If for any reason excess loan proceeds are erroneously credited to my bank

If for any reason excess loan proceeds are

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If for any reason excess loan proceeds are erroneously credited to my bank account/cash card, I hereby authorize HDMF to debit/deduct the excess amount from my account without need of further notice of demand. Should my account balance be insufficient, the HDMF has the right todemand for the excess amount to be refunded. I certify that the information given and any or all statements made herein are true and correct \0 the best of my knowledge and belief. I hereby certify under pain of perjury that my signature and thumbmarks appearing herein are genuine and authentic. LEFTTHUMBMARKOF APPLICANT RIGHTTHUMBMARKOF APPLICANT For value received, I promise to pay on due date without need of demand to the order of HDMF with principal office at the Atrium of Makati, Makati Ave., City of Makati the sum of Pesos: (P ) Philippine Currency, with the interest rate of 10.75% p. a. for the duration of the loan. I hereby waive notice of demand for payment and agree that any legal action, which may arise in relation to this note, may be instituted in the proper court of Makati City. Finally, this nole shall likewise be subject to the following terms and conditions: 1. The borrower shall pay the amount of Pesos: -----,--,.,...,.,..,::..,--,-,-;;c,.,--;--,-:-::-:,.,-" (P ) through payroll deduction over a period of 24 months. In case of resignation/separation from the employer, suspension from work, leave of absence without pay, or insufficient monthly net take home pay prior to full payment of this loan, monthly/full payments should be made directly to the HDMF office where the loan was released. 2. Payments are due on or before the of the month starting on and 23 succeeding months thereafter. 3 "p'--a-ym-e-nt'--s-m-a-dC-e-'b'--y-tC'"h-e-;b-o-rr-o-wer after due date shall be applied in the following order of priorities: Penalties,interest, and principal. 4. A penalty of 1/2%of any unpaid amount shall be collected from the borrower for every month of delay. Signed in the presence of' Witness (Si nature over Printed Name) VERIFIED VWness Si nature over Printed Name) FROM(Mo./Yr.) IN THE EVENT OF THE APPROVAL OF MY APPLICATION FOR MULTI-PURPOSE LOAN, I HEREBY AUTHORIZE HDMF TO CREDIT MY LOAN PROCEEDS THROUGH MY PAYROLL BANK ACCOUNT THAT I HAVE INDICATED ON THE RIGHT PORTION. BANK ADDRESS [] Signature of Applicant over Printed Name This office agrees to collect the corresponding monthly amortizations on this loan and the monthly contributions of herein applicant through payroll deduction, together with the employer counterpart contributions, and remit said amounts to HDMF on or before the scheduled day of every month, for the duration that the loan remains outstanding. However, should we deduct the monthly amortization due from the applicant's salary but failed to remit it on due date, this office agrees to pay the corresponding penalties equivalent to 1/2% of any unpaid amount for every month of delay.
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  • Fall '15
  • Debt, Default, HDMF

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