I, ____________________________, expressly state and depose that:

1.   I have an existing loan obligation with TELEMCO;

2.   I shall pay the loan faithfully herein applied in accordance with its terms and conditions, among others, includes the inclusive of interest, insurance, deposit and whatever penalties imposed, if any;

3.   I expressly authorize my employer to deduct whatever due and demandable amount that I have to TELEMCO and further voluntarily authorize the same to remit any and all deductions made in relation to said loan obligation to TELEMCO which shall be applied to my loan obligation;

4.   If my membership in the TELEMCO is voluntarily withdrawn due to separation or retirement from employment with the above employer, I expressly authorize and consent that TELEMCO shall have the first lien on the amount payable to me by my employer. All outstanding loan balances to TELEMCO shall be due and demandable without need of any form of demand, and that any and all uncollected salary/wages, the 13th month, honoraria, and all other forms of compensation due to me by my employer shall be automatically applied by the same employer to my loan obligation with TELEMCO;

5.   In the event that I separate/retire/leave from employment but continue with my membership in the TELEMCO, I voluntarily authorize and consent that TELEMCO shall have the first lien on the amount payable to me by my employer and be authorized to collect all uncollected salary/wages, the 13th month, honoraria, and all other forms of compensation due to me and apply any and all collections to my existing obligation which shall become due and demandable without need of any form of demand;

6.   If there's still a loan balance after all deductions, I undertake to continue to pay thru post-dated checks or over the counter payments, with a co-maker and collateral in the form of real estate property. The designated co-maker and collateral assigned is subject to approval by TELEMCO before the same are considered. The post-dated checks/over the counter payments shall immediately be made by me under Numbers 4 and 5 above;

7.   That the loan proceeds shall be subject to the payment of the required fees, deposit and outstanding loan balances or overdue instalment payments I have with the TELEMCO and I also commit to use the proceeds of this loan for the purpose indicated in my loan application. I likewise undertake and bind myself that should I, for whatever reason, use part of the whole loan proceeds other than the purpose which I indicated in my loan application, the whole loan becomes due and demandable without need of any form of demand, the terms of payment indicated above notwithstanding;

8.   That the net proceeds of my loan can be deposited on my current bank account or GCash account on record with the TELEMCO, provided that it is subject to applicable fees.

9.   That in the event of the loan herein applied for becomes in default. I hereby voluntarily consent and authorize that the loan or any outstanding balances shall constitute a lien compensation I have with my employer/agency or whatever accrued benefits is due to me in the form of commutation of leave credits and similar benefit pursuant to the provision of Article 58 of R.A. 9520 or Cooperative Code of the Philippines of 2008 and any and all proceeds thereon shall be automatically applied by the same employer to my loan obligation with TELEMCO;

10.   That this undertaking shall serve as an instrument authorizing my employer or my office/agency/institution to effect payment/deduction of whatever loan obligation I have with the TELEMCO through salary deduction or commutation of my leave or terminal benefit or similar benefits and the same shall be remitted to TELEMCO to be applied to my existing loan obligation;

11.   I am fully aware that in the event my loan is in default, it may be referred to the Credit Information System for information and viewing by other Financial Institution and I hereby acknowledge and authorize: 1) the regular submission and disclosure of my basic credit data (as defined under Republic Act 9510 and its Implementing Rules and Regulations) to the Credit Information Corporation (CIC) as well as any updates or corrections thereof; and 2) the sharing of my basic credit data with other lenders authorized by the CIC, and credit reporting agencies duly accredited by the CIC;

12.   In case of collection suit, I expressly consent that the digital and/or printed copy of this loan application can be used as supporting document in the case filed against me and may be considered as primary proof of my loan obligation as my digital signature appearing herein is my true, correct and genuine signature, voluntarily affixed by me;

13.   I hereby agree and authorize TELEMCO to immediately charge my loan in default against my/our deposits Time or Savings deposit amortization and interest from my/our deposits;

14.   By agreeing herein, I expressly consent for the lawful collection, processing, use, sharing, storage, retention or destruction and for other lawful or legal purposes, of all personal data pertaining to you in line with your application for loan and the servicing requirements thereof, in accordance with Republic Act No. 10173 or the Data Privacy Act of 2012 and its implementing rules and regulations.

15.  That all notices regarding the loan application, default status and other notices will be sufficient and a binding notice if they are sent to the member through his cellphone number, different social media accounts, or postal address available in his loan application.

16.  Finally, I have read and understood all the terms and conditions regarding this loan;