Loan Restructuring Agreement (1)

LOAN RESTRUCTURING AGREEMENT KNOW ALL MEN BY THESE PRESENTS: This Agreement made and entered into by and between: DRUGMAKER’S LABORATORIES, INC., a corporation duly organized and existing under the laws of the Republic of the Philippines with principal office located at E & E Industrial Complex, Narra Road, Brgy. San Antonio, San Pedro, Laguna, represented herein by its _____________________, and hereinafter referred to as “DMLI”, -and____________________, hereinafter referred to as the “BORROWER”, Witnesseth- that: WHEREAS, DMLI and the BORROWER entered in a Contract of Loan dated ___________________ in the amount of _______________ to _________________________, hereinafter referred to as the “Contract”; WHEREAS, by virtue of the contract, the BORROWER has incurred amortization arrearages to DMLI in the amount of ________________________ as of___________________; WHEREAS, the BORROWER has requested DMLI that it be allowed to restructure its present amortization arrearages by paying in equal monthly installments in the amount of ___________ per month beginning _______________ and ending ____________________ at interest rate of _________ per annum. WHEREAS, DMLI has agreed to the proposed restructuring scheme of the BORROWER. NOW, THEREFORE, for and in consideration of the foregoing premises, the parties hereby agree as follows: 1. The Parties agree and undertake that the BORROWER’s overdue account as of ____________________ amounting to _________________ consisting of the principal and interest shall be restructured and become the new principal. 2. The Parties further agree and undertake that the BORROWER shall commence paying the said restructured loan to DMLI by paying in

2 equal monthly installments in the amount of ___________ per month beginning _______________ and ending ____________________ at the interest rate of ____________ per annum. 3. The Parties agree that the amortizations shall be applied first to the interest due, if any, and then to the principal. 4. As and by way of security/collateral for the payment of the said restructured loan, the BORROWER agrees and undertakes to mortgage to and in favor of DMLI the BORROWER’s __(description of property to be mortgaged)_____________, and to execute and sign the necessary document (real estate and/or chattel mortgage) evidencing the mortgage, which shall be delivered to and in favor of DMLI. 5. It is understood that the BORROWER shall be deemed in default in the event he/she failed to pay one (1) or more monthly amortization on demand or at maturity. 6. The Parties agree that in case of default of the BORROWER, DMLI may undertake any of the following: a) Declare the remaining unpaid balance of the loan to be immediately due and payable and the stipulated interest thereon; and/or b)

To foreclose the mortgage pursuant to Section 4 hereof.

7. A surcharge rate of __________ per annum shall be applied on defaulted amortization/s. 8. Except for the above, all other terms and conditions of the Contract are deemed incorporated in this Agreement. 9. Nothing herein shall be interpreted to mean as a limitation of the right of DMLI to exact or collect payment by other means. IN WITNESS WHEREOF, the Parties have hereto set their hands this __________________ in ______________________. Drugmaker’s Laboratories, Inc.

____________________ BORROWER

By: _________________________ SIGNED IN THE PRESENCE OF: _______________________

_________________________

3 ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES ) ) s.s. BEFORE ME, a Notary Public for and in _______________, personally appeared this __________________, the following persons exhibiting to me their respective Government Issued I.D.s as proof of their identities, to wit: Name

Gov’t Issued I.D.

_____________________ _____________________ _____________________

____________ ____________ ____________

Date/Place of issue __________________ __________________ __________________

all known to me and to me known to be the same persons who executed the foregoing instrument consisting of three (3) pages including this page in which their acknowledgement is written and acknowledged to me that the same is their own free and voluntary act and deed and that of the Corporation they represent. WITNESS MY HAND AND SEAL on the date and place abovementioned. Doc. No. _____; Page No. _____; Book No. _____; Series of 2016.