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The Personal Property Loan Agreement is a crucial document used in Philippine lending transactions where borrowers seek financing using personal property as collateral. This agreement is essential for both financial institutions and borrowers engaging in secured lending transactions under Philippine jurisdiction. It must comply with various regulations including the Civil Code of the Philippines, the Truth in Lending Act, and the Personal Property Security Act. The document typically includes detailed terms about the loan amount, interest rates, repayment schedule, security arrangements, and enforcement rights. It's particularly important for protecting the lender's interests while ensuring transparent and fair terms for the borrower, as required by Philippine consumer protection laws. The agreement should be carefully drafted to ensure enforceability and include all mandatory disclosures required by Philippine banking regulations.

1. Parties: Identifies and provides full details of the Lender and Borrower, including their addresses and legal capacity

2. Background: Sets out the context of the loan agreement and the parties' intention to enter into the lending arrangement

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Loan Amount and Purpose: Specifies the principal amount of the loan and its intended use

5. Interest Rate: Details the interest rate, calculation method, and payment frequency

6. Repayment Terms: Outlines the repayment schedule, payment methods, and duration of the loan

7. Security Interest: Describes the personal property being used as collateral and the security arrangement

8. Representations and Warranties: States the parties' assertions regarding their capacity and authority to enter into the agreement

9. Borrower's Covenants: Lists the borrower's ongoing obligations regarding the loan and collateral

10. Events of Default: Defines circumstances constituting default and their consequences

11. Remedies: Outlines the lender's rights and remedies in case of default

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

13. Execution: Formal signing section with spaces for signatures, witnesses, and notarization