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The Personal Loan Note Agreement is a fundamental document used in Philippine lending transactions to formalize personal loans between lenders and borrowers. This document is essential when individuals seek personal financing from banks, financial institutions, or private lenders. It must comply with Philippine banking regulations, particularly the Truth in Lending Act and Central Bank guidelines, while incorporating civil law requirements for contract formation. The agreement typically includes comprehensive details about the loan amount, interest calculations, payment schedules, default provisions, and remedies. It's designed to protect both lender and borrower interests by clearly documenting all aspects of the lending relationship, from disbursement to final repayment.

1. Parties: Identifies the Lender and Borrower with their complete legal names, addresses, and contact information

2. Background: Brief context of the loan arrangement and the parties' intention to enter into this agreement

3. Definitions: Defines key terms used throughout the agreement including 'Principal Amount', 'Interest Rate', 'Payment Date', etc.

4. Loan Details: Specifies the principal amount, interest rate, and term of the loan as required by the Truth in Lending Act

5. Repayment Terms: Details the payment schedule, method of payment, and calculation of installments

6. Interest and Charges: Comprehensive breakdown of interest calculation, late payment charges, and other applicable fees

7. Representations and Warranties: Borrower's declarations regarding their capacity to enter into the agreement and accuracy of provided information

8. Events of Default: Lists circumstances that constitute default and their consequences

9. Remedies: Outlines the Lender's rights and remedies in case of default

10. Governing Law: Specifies that Philippine law governs the agreement

11. Execution: Signature blocks and execution requirements