Repayment Agreement

1. Background and Acknowledgement. The Seller agreed to sell one (1) purebred Ragdoll cat (the "Animal") to the Buyer for a total price of Twenty-Five Thousand Pesos (₱25,000.00). The Buyer has paid a downpayment of Three Thousand Pesos (₱3,000.00) prior to the date of this Agreement, which the Seller hereby acknowledges as received. The remaining balance of Twenty-Two Thousand Pesos (₱22,000.00) (the "Principal") is the subject of this Agreement.

2. Repayment Schedule. The Buyer shall repay the Principal in four (4) installments of ₱5,500.00 each, due every fifteen (15) days beginning April 5, 2026. The final installment is due on May 20, 2026, at which point the balance is fully settled.

3. Zero Interest. No interest shall be charged on the outstanding balance, provided each installment is received by its due date.

4. Late Payment Penalty. If any installment is not received on its due date, a penalty of One Hundred Pesos (₱100.00) per day shall accrue on that installment from the day after the due date until it is paid in full. Each overdue installment tracks its own penalty independently from its own due date. Penalties do not reduce the remaining principal or affect the due dates of subsequent installments.

5. How Penalties Accumulate. For clarity: if Payment 1 (due April 5) and Payment 2 (due April 20) are both unpaid as of April 23, the total penalties are — Payment 1: 18 days × ₱100 = ₱1,800; Payment 2: 3 days × ₱100 = ₱300. Total penalties: ₱2,100, in addition to the ₱11,000 in outstanding principal.

6. Collateral. As security for the outstanding balance, the Buyer offers the following personal property:

The Buyer warrants that they are the registered owner of this vehicle and that it is free of any other encumbrance or lien at the time of signing.

7. Collateral Remedy. If the Buyer misses two (2) consecutive scheduled installments, the Seller shall have the right — though not the obligation — to take possession of the motorcycle described in Clause 6 as full or partial settlement of the outstanding balance. The Seller may exercise this right at their sole discretion; choosing not to exercise it on one occasion does not waive the right on any future occasion. Should the Seller exercise this right, both parties shall agree in writing on the vehicle valuation and how any remaining balance or surplus shall be handled.

In addition, if any portion of the Principal or accrued penalties remains unpaid after June 20, 2026, the Seller shall have the right — though not the obligation — to take possession of the collateral vehicle as full or partial settlement of the outstanding balance, regardless of the payment history up to that date.

8. Mode of Payment. Payments shall be made via GCash or bank transfer to the Seller's designated account. The Buyer shall retain proof of each transaction. The Seller shall acknowledge receipt upon confirmation of each payment.

9. Modifications. Any change to this Agreement must be made in writing and acknowledged by both parties. The loss or destruction of this document does not void the obligation.

10. Governing Law. This Agreement is governed by the laws of the Republic of the Philippines. Disputes not resolved amicably shall be brought before the proper courts of Cavite, Philippines.