CERTIFICATION OF TRUTH, ACCURACY AND COMPLETENESS

I hereby warrant to the truth, accuracy, completeness and authenticity of all data/information furnished herein as of the date of this application submission to the best of my knowledge. Any misdeclaration hereto will automatically cause the disapprovalof this application.

 

AUTHORIZATION TO CONDUCT CREDIT/BACKGROUND INVESTIGATION

I hereby authorize GSAC or any of its representative to conduct any credit investigation,obtain personal and credit information about me from my employer and credit bureau, or credit reporting agency, any person who has or may have any financial dealings with me, or from any references I have provided. Any personal and credit information obtained may be disclosed from time to time to credit bureaus or credit reporting agencies in relation to R.A. 10173, otherwise knownas the "Data Privacy Act of 2012".

 

PROMISSORY NOTE

For value received, the undersigned promise to pay Gubat St. Anthony Cooperative the sum of (see approved amount below) Pesos with a zero percent interest for a term of (see approved term below) months commencing on the first due date indicated in the attached amortization schedule, which will form part of this note, until fully paid. It is to my full knowledge and understanding that this note shall be subject to the following conditions:

1. Failure to pay this note or any installment thereof, when due and without need for prior notice or demand, shall constitute for purpose of any action of any kind instituted against me/us by GSAC and shall render the entire amount owing due and demandable. A penalty charge, as determined by GSAC, per month shall be charged on all delayed or unpaid installments. All payments made after due date shall be applied in the following order of collection: Penalty, first; Interest, second; Principal, third;

2. In the event of default, I hereby authorize GSAC at its option and without prior notice and approval from the member to set-off or apply to the payment base on the order of collection any monies, securities and things of value which may be in its possesion, on deposit or otherwise belonging to me. I also authorize GSAC to apply whatever benefits due me to settle the said obligation;

3. In case this note is referred to an Attorney for Collection or Legal Action, I bind ourselves to pay the attorney's fees equivalent to TWENTY PERCENT (20%) of our outstanding obligation to any holder hereof, exclusive of costs and expenses of litigation; but, in no case, less that FIVE THOUSAND PESOS (Php 5,000);

4. All correspondence relative to this Note including demand letters, summons, or notification of any judicial or extrajudicial actions shall be sent to me at the address herein indicated and the mere act of sending any correspondence by mail or personal delivery to said address shall be valid and effective notice to me, for all legal purposes, and that if it has been returned to GSAC, shall not relieve me from the effect of such Notice;

5. Each party to this note whether as maker, co-maker, endorser or guarantor, severally waives presentment of payment, demand, protest and notice of protest and dishonor of the same and agree that any legal action which may arise in relation to this note shall be instituted in the Municipality/City where the branch office of GSAC is located;

I shall abide with all appliicable rules and regulations that the Board of Directors may promulgate from time to time.