Promissory Note With Collateral Template for Philippines

1. Parties: Identification of the Maker (debtor) and Payee (creditor) with complete names and addresses

2. Promise to Pay: Unconditional promise to pay a specific sum of money, including the principal amount in both numbers and words

3. Payment Terms: Details of payment schedule, interest rate, maturity date, and method of payment

4. Collateral Description: Specific description of the property being pledged as collateral, including identifying details and location

5. Security Interest: Creation and terms of the security interest in the collateral

6. Default Provisions: Definition of events of default and consequences, including collateral seizure rights

7. Representations and Warranties: Maker's declarations regarding ownership and condition of collateral

8. Notice Requirements: How and where notices between parties must be delivered

9. Signature Block: Space for signatures, dates, and witnesses as required

1. Schedule A - Collateral Details: Detailed inventory and description of all collateral items including serial numbers, locations, and conditions

2. Schedule B - Payment Schedule: Amortization table or detailed payment schedule if installment payments are involved

3. Schedule C - Collateral Valuation: Current valuation of collateral items and appraisal details if required

4. Appendix 1 - Photos of Collateral: Photographic evidence of collateral condition at time of agreement

5. Appendix 2 - Title Documents: Copies of relevant ownership documents for the collateral