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DEED OF CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This CHATTEL MORTGAGE, made and executed by __ (mortgagor)__, Filipino, of legal age, single (or married to __________________) , with residence and postoffice address at _______________________ hereinafter called the MORTGAGOR in favor of __(mortgagee)__, Filipino, of legal age, single (or married to ____________________), with residence and post-office address at __________________ hereinafter called the MORTGAGEE,

Witnesseth:

That the MORTGAGOR does hereby convey by way of chattel mortgage unto the MORTGAGEE the following described personal property, situated and ordinarily kept at ___________________ and presently in the possession of the said MORTGAGOR, to wit:

(Specify and describe the article or articles mortgaged.)

That this CHATTEL MORTGAGE is given as security for the payment to the MORTGAGEE, of a certain promissory note, dated ____________________, for the sum of _____________ PESOS (P___________), with interest thereon at the rate of __________________ (__%) per centum per annum, according to the terms thereof, and in the words and figures following:

(Copy the promissory note)

That the condition of this CHATTEL MORTGAGE is such that if the said MORTGAGOR, his heirs, executors, or administrators shall well and truly perform the full obligation above stated according to the terms thereof, then this CHATTEL MORTGAGE shall be null and void; otherwise, it shall remain in full force and effect and shall be enforceable in the manner provided for by law. IN WITNESS WHEREOF, the MORTGAGOR has hereunto set his hand, this __ of ______________, 2007, in _________________, Philippines.

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________________________ (Mortgagor)

Signed in the presence of: _________________________

_________________________

ACKNOWLEDGMENT

Affidavit of Good Faith WE, the undersigned MORTGAGOR and MORTGAGEE, severally swear that the foregoing chattel mortgage is made and executed for the purpose of securing the obligation specified therein, and for no other purpose, and that the same is a just and valid obligation, and one not entered into for the purpose of fraud.

_______________________ (Mortgagor)

______________________ (Mortgagee)

JURAT

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