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Addendum
NEA contract of loan addendum
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CONTRACT OF LOAN
(Addendum/Amendment)
MARIANO T. CUENCO
Deputy Administrator
Corporate Resources &
Financial Services
KNOW ALL MEN BY THESE PRESENTS:
This ADDENDUM, made and entered into this ____ day of __________________
, 20_____ at ___________________________ by and between:
NATIONAL ELECTRIFICATION ADMINISTRATION, a government
corporation created under Presidential Decree No. 269, as amended, represented herein
by __MARIANO T. CUENCO__ with office address at NIA Road, Government Center,
Diliman, Quezon City, hereinafter referred to as “NEA’
_____________________
General Manager
_____________________
President
SONIA B. SAN DIEGO
Director
Finance Services Department
-and_______________________ ELECTRIC COOPERATIVE, INC., a
cooperative organized and existing pursuant to Presidential Decree No. 269 as
amended, with office address at
_____________________________________
herein represented by _______________________________ herein referred to
as “BORROWER”
WITNESSETH
WHEREAS, the BORROWER has an existing loan with NEA as evidenced by
the Contract of Loan dated _ ____________ ______ _ hereto attached as Annex “A”
and hereinafter referred to as the First Contract;
WHEREAS, in addition to such, the BORROWER is also a recipient of
_____________________________________________________________
______________________________ (P_____________) with NEA.
TERMS AND CONDITIONS
NOW THEREFORE, for and in consideration of the mutual covenants herein
contained, NEA and BORROWER agree as follows:
NEA agrees to release an additional loan to the BORROWER in the amount of
_____________________________________________________________
______________________________ (P______________) from the balance
of the First Contract as ____________________ at an interest rate of nine percent (9%)
per annum;
A.
The reduced interest rate from 10% per annum to 9% per annum is
made pursuant to NEA Board Resolution No. 7, series of 2008 and Section 2, Article VII
of the First Contract.
B.
The BORROWER shall pay the principal and interest of the new loan
within _ _______ _ year/s from ____________ or until _______________.
C.
In case of default, the BORROWER has a grace period of ______ _
month/s within which to pay the loan amount;
D.
It is understood that all terms and conditions under Article I to Article VII
embodied in the First Contract shall as far as applicable be deemed embodied in the new
loan/addendum;
E.
The Mortgage executed pursuant to the First Contract shall also stand as security
for the new loan/addendum.
F.
Other Conditionalities:
1.
Issuance of Post Dated Check (PDC)
NATIONAL ELECTRIFICATION
ADMINISTRATION
By:
ELECTRIC COOPERATIVE, INC.
By:
MARIANO T. CUENCO
Deputy Administrator
Corporate Resources and
Financial Services
_______________________
President
WITNESSES:
SONIA B. SAN DIEGO
Director
Finance Services Department
MA
______________________
General Manager
MARIANO T. CUENCO
Deputy Administrator
Corporate Resources &
Financial Services
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
__________________________)
BEFORE ME, a Notary Public for and in ___________________________,
Philippines, on this ______ day of ______________________, 20____ personally
appeared:
SONIA B. SAN DIEGO
Director
Finance Services Department
Name
Comm. Tax
Cert. No.
Date/Place Issued
MARIANO T. CUENCO
known to me and to me known to be the same persons who executed the foregoing
Addendum and who acknowledged to me that the same is their true and voluntary act
and deed and the true and voluntary act and deed of the Offices they respectively
represent.
I CERTIFY that this Contract consists of 3 pages including this page
whereupon this Acknowledgment is written each page duly signed by the PARTIES and
their instrumental witnesses at the left-hand margin except page 2 which is signed at
the foot thereof.
WITNESS MY HAND AND SEAL on the date and at the place first above-
_____________________
General Manager
_____________________
President
written.
________________________
Notary Public
Until December 31, 20___
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____
