On my dealings with farmers on my Farmers Loan Venture, I have written the agreements myself, para makatipid sa lawyers expense. Sana naman eh.. tama ang pagkakagawa ko, although I am hoping that not one of my clients will reneged on our agreements. Pero, in this business dapat sigurista ka. There should be a guarantee of some sort whenever you release an amount for any venture.
Dahil baka may gumaya sa venture ko among my readers, I will post a sample of the agreement, I have made baka makatulong. Ito:
REAL ESTATE MORTGAGE/LOAN GUARANTEE
KNOW ALL MEN BY THESE PRESENTS:
This REAL ESTATE MORTGAGE, made executed by and between:
Pangalan ng Umutang. (mortgagor), Filipino of legal age, single with postal address at Address ng Umu-utang;
Pangalan ko. (mortgagee), Filipino, of legal age, single, with postal address at Address ko, Philippines.
That the MORTGAGOR does hereby convey by way of REAL ESTATE MORTGAGE unto the MORTGAGEE the following described real property situated in Location ng Lupa, together with all the improvements, to wit:
(see attach documents)
of which real property, the MORTGAGOR is the registered owner in accordance with the provisions of the Land Registration Act, his title thereto being evidenced by Transfer Certificate of Title No. __T-5011________, of the Registry of Deeds of Province of xxxx.
That this real estate mortgage is given as security for a loan from the mortgagee in the sum of One Hundred Thousand Pesos (P 100,000.00) with interest thereon at the rate of Sixty Five Sacks of unhusked rice/palay per cropping, which is twice a year for a total of 130 sacks of unhusked rice per year.
That the MORTGAGOR will hold the land title with him and cultivate/till the land provided the MORTGAGOR promises to pay the loaned sum plus interests to the mortgagee. In the same manner, that the MORTGAGOR promises to convey, deliver the said real state to the mortgagee, if and when the MORTGAGOR fails to pay the loaned sum plus interests.
That this real estate mortgage will be in effect for at least two years or until the mortgagor paid the full amount of the loaned sum of One Hundred Thousand Pesos (P 100,000.00) with interest to the mortgagee.
That the conditions of the REAL ESTATE MORTGAGE are such that if the mortgagor shall well and truly pay then this mortgage shall be of no further force and effect, otherwise, the same shall remain in full force and effect and shall be enforceable in the manner provided by law.
IN WITNESS WHEREOF, the mortgagor has hereunto set his hands this 28TH day of June, 2006 in xxxx City, Philippines.
SIGNED IN TIHE PRESENCE OF: