LOAN AND DISCLOSURE AGREEMENT
This Loan Agreement is entered into by and between:
STREETCORNER LENDING CORP. DOING BUSINESS UNDER THE NAME AND STYLE OF “AKULAKU” (“Lender”) with address at 24TH Floor IBP Tower Doña Julia Vargas and Jade Drive Ave Brgy. San Antonio Pasig City
and
{NAME OF BORROWER} with address at {ADDRESS} and with registered email address of {EMAIL ADDRESS} (“Borrower”) hereby agree to enter into this Loan Agreement this {DATE}.
The Borrower and Lender may be collectively referred to as the “Parties” and individually as “Party.”
In consideration of the Parties’ mutual rights and obligations, the Parties execute this Agreement as follows:
1. Loan Disclosure Statement
The Lender hereby extends to the Borrower a Loan in the principal amount of {Principal} Pesos, PHP: {Principal} in the following manner:

a. Interest Rate Per Month: {Monthly Interest Rate}
b. Service Fees: {Service Fees}
c. No. of Installments: {Period}
d. Installment Amount: {Monthly Installment Amount}
e. Payment of installments shall start on: {Loan Payment Start Date}
f. Payment of installment shall end on: {Loan Payment End Date}
g. Effective Interest Rate Per Month: {Monthly Effective Interest Rate}
2. Method of Loan disbursement. Loan shall be disbursed through fund transfer to Borrower’s designated e-wallet.
3. REPAYMENTS
a. PAYMENT DUE DATE OF MONTHLY INSTALLMENTS
Each monthly repayment shall be made on or before the Due Date. The first monthly payment will be paid based on the schedule provided in the Payment Schedule as displayed in the Tiktok App or any other platform the borrower may have used to access Akulaku’s services.
b. PREPAYMENT
You may prepay the Outstanding Balance in full or prepay more than the monthly payment due before payment due dates at any time without premium or penalty. All prepayments shall first be applied to any:
i. late payment fees or in due;
ii. then to outstanding late installment amounts due;
iii. thereafter to the Outstanding Balance.
Any such prepayment that exceeds monthly repayment or any prepayment in parts shall be deemed to be advance payment. Such amounts of advance payment if sufficient to cover the monthly prepayment(s) will extend the schedule Due Date (Monthly Due Date) to a later date.
c. APPLICATION OF PAYMENT
Any and all payments made by you shall be applied on the following items in the order they are listed:
i. Any stamp duty or other charges permitted by law.
ii. In payment of enforcement expenses
iii. Late payment penalties
iv. Past due unpaid items from the oldest due date to the latest in the following order of items:
a. Fees
b. Interest
c. Principal
4. LATE PAYMENT FEE
Upon failure of the User for any cause whatsoever to pay any of the payments when due (single or installment payment), the User hereby acknowledges that the entire outstanding balance of the Loan Amount shall, without need of demand, immediately become due and demandable. A late payment fee of 5% of the outstanding principal
and interest will be charged on the 3rd day after the payment due date. And if the user still does not pay for the outstanding principal and interest, a cumulative late payment fee of 5% of the outstanding principal and interest will be charged on the 17th day of the following month. The Loan Agreement and/or the Loan transaction of the User shall be governed by the laws of the Republic of the Philippines.
5. COLLECTION OF PAYMENT
a. Upon the occurrence of an event of default, as described in the previous section, Akulaku may, at its sole discretion and without need of notice or demand, take such action and exercise such remedies in order to protect and enforce its rights under this Agreement and applicable laws.

b. In the event of delay or failure on your part to settle payment of my obligation, you hereby acknowledge and authorize Akulaku, through its Collection Department or a debt collections agency, to contact you personally or through your emergency contacts, or character references, using any and all information you have entered via the Tiktok App or any other platform the borrower may have used to access Akulaku’s services or which have been obtained from you in any other way in the course of submitting your loan application such as, among others, those gathered through our verification process to determine your eligibility for the loan. Akulaku reserves its right to contact you, in accordance with applicable regulations, by any method necessary including, but not limited to, by letter, email, phone call, SMS or by sending private messages to your social media accounts.

c. Finally, you agree to pay all reasonable legal fees, collection and enforcement charges to the extent permissible by law, in addition to other amounts due. You likewise warrant that you have obtained the consent of your emergency contacts and character references to use their information for the purposes mentioned in this clause (6.b).
6. GENERAL TERMS
a. No waiver
Our failure to enforce this Agreement shall not constitute a waiver of these terms, and such failure shall not affect our right to later enforce this Agreement.
b. Severability
If at any time any provision of this Agreement become illegal, invalid or unenforceable in any respect, the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby, and shall continue in force as if such illegal, invalid or unenforceable provision was severed from this Agreement.
c. Rights of third parties
A person or entity who is not a party to this Agreement shall have no right to enforce any term herein, regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description. For the avoidance of doubt, nothing in this clause shall affect the rights of any permitted assignee or transferee of this Agreement.
d. Governing law
This Agreement shall be governed by and construed in accordance with Philippine law and you hereby submit to the exclusive jurisdiction of the courts of Pasig City.
e. Disputes
If any dispute or claim arises from or in connection with this Agreement or your use of your the Tiktok App or any other platform the borrower may have used to access Akulaku’s services (“Dispute”), the relevant parties shall first attempt to resolve the Dispute through amicable negotiations. You agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated or representative action.
In any event and to the fullest extent permitted by applicable law, you may not make any claim against the Indemnities under this Agreement after one year from the date of occurrence of the matter giving rise to the claim.
f. Injunctive Relief
We may seek immediate injunctive relief if we make a good faith determination that a breach or non-performance is such that a temporary restraining order or other immediate injunctive relief is an appropriate or adequate remedy.
g. Correction of errors
Any typographical, clerical or other error or omission in any acceptance, invoice or other document on our part shall be subject to correction without any liability on our part.
h. Entire agreement
This Agreement shall constitute the entire agreement between you and us relating to the subject matter hereof and supersedes and replaces in full all prior understandings, communications and agreements with respect to the subject matter hereof.
i. Binding and conclusive
You acknowledge and agree that any records (including records of any telephone conversations relating to the Tiktok App or any other platform the borrower may have used to access Akulaku’s services (if any) maintained by us and/or our service providers relating to or in connection with the Tiktok App or any other platform the borrower may have used to access Akulaku’s services, shall be binding and conclusive on you for all purposes whatsoever and shall be conclusive evidence of any information and/or data transmitted between us and you. You hereby agree that all such records are admissible in evidence and that you shall not challenge or dispute the admissibility, reliability, accuracy or the authenticity of such records merely on the basis that such records are in electronic form or are the output of a computer system, and you hereby waive any of your rights, if any, to so object.
j. Sub-contracting and delegation
Akulaku reserve the right to delegate or sub-contract the performance of any of our functions or obligations in connection with Tiktok App or any other platform the borrower may have used to access Akulaku’s services, to any service provider, subcontractor and/or agent on such terms as we may deem appropriate.

k. Assignment
You may not assign your rights or transfer your obligations under this Agreement without our prior written consent. We may assign our rights or transfer our obligations under this Agreement to any third party at our sole discretion.
l. Force Majeure
Akulaku shall not be liable for non-performance, error, interruption or delay in the performance of our obligations under this Agreement (or any part thereof) or for any inaccuracy, unreliability or unsuitability of Tiktok App or any other platform the borrower may have used to access Akulaku’s services if this is due, in whole or in part, directly or indirectly to an event or failure which is beyond our reasonable control.
m. Akulaku is regulated by the Securities and Exchange Commission (“SEC”).

I ACKNOWLEDGE THAT I HAVE READ THIS LOAN AND DISCLOSURE AGREEMENT PRIOR TO SUBMITTING MY LOAN APPLICATION AND THAT I UNDERSTAND AND FULLY AGREE TO ITS TERMS AND CONDITIONS.