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Sample Promissory Note with Acceleration Clause and Attorney's Fees

Promissory Note

October 1, 2013     P50,000.00                                   Makati City, Philippines

        I, Anne Kurtis, Filipino citizen, of legal age and resident of Manila promise to pay Bong Nabaro or order the sum of P50,000.00 in five equal monthly installments commencing on October 1, 2013, payable not later than the 20th day of each month, with compounded interest at ten percent (10%) per annum; that in the event that I fail to pay any of the monthly payments, the entire balance shall immediately become due and payable; and that in the event of a suit to enforce the promissory note, I promise to pay P5,000.00 as attorney’s fees; and that said action shall be filed in an appropriate court in Makati City.


Anne Kurtis



 

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