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DEED OF CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

That I, PEDRO DELOS SANTOS, of legal age, married and resident of


#009 La Paloma Subdivision, Tisa, Cebu City for and in consideration of the loan of
THREE MILLION PESOS (P3,000,000.00), granted to me by JUAN DE LA
CRUZ, also of legal age, married and resident of Pelaez Extension, Brgy.
Sta. Cruz, Cebu City, to be paid three (3) years from date hereof, have
transferred and conveyed by way of chattel mortgage unto said JUAN DE
LA CRUZ, his heirs, successors and assigns, free from all liens and
encumbrances that certain motor vehicle, presently in my possession, more
particularly described as:

MODEL/MAKE : 2011 TOYOTA VIOS


COLOR : White
MOTOR NO. : 123456
SERIAL/CHASSIS NO. : 789666
PLATE NO. : XYZ-123

MODEL/MAKE : 2010 TOYOTA VIOS


COLOR : White
MOTOR NO. : 78910
SERIAL/CHASSIS NO. : 1212451
PLATE NO. : XLL 563

MODEL/MAKE : 2010 TOYOTA VIOS


COLOR : White
MOTOR NO. : 654123
SERIAL/CHASSIS NO. : 798765
PLATE NO. : YCA 794

of which I am the true and absolute owner by title thereto, being evidenced
by Registration Certificate of Motor Vehicle No. 1122, 1354, 4578 issued in
my name by the Land Transportation Office on July 6, 2011, January 5,
2010 and March 15, 2010 respectively.

This chattel mortgage has been executed in order to secure the full
and faithful payment of my obligation to PEDRO DELOS SANTOS in
accordance with the terms and conditions of this instrument. Upon payment,
this contract shall become null and void; otherwise, it shall continue in full
force and effect and may be foreclosed in accordance with law.
In view of this instrument, I hereby appoint herein mortgagee as my
Attorney-in-Fact with authority to enter the premises of MY garage and take
actual possession of the mortgage chattels without court order to sell said
property to any party should I fail to settle upon maturity date.

In case, mortgagee shall institute proceedings in Court for the


foreclosure of the mortgage, he shall be entitled to the appointment of a
Receiver without a bond.

IN WITNESSS WHEREOF, I have hereunto signed this deed of


chattel mortgage, this 20th day of August 2011 at Cebu City, Philippines.

PEDRO DE LOS SANTOS


Mortgagor

With my marital consent (if married):

MARIA DE LOS SANTOS


Mortgagor’s wife

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
purposes of fraud.

JUAN DELA CRUZ PEDRO DELOS SANTOS


Mortgagee Mortgagor

SIGNED IN THE PRESENCE OF:

MARIA MAKILING JUAN TAMAD


Witness Witness
ACKNOWLEDGMENT

Republic of the Philippines)


City of Makati ) S.S.

BEFORE ME, a Notary Public, for and in the City of Makati, this day of
20th August 2011 personally appeared:

Name Identification Card Issued


On/At

JUAN DELA CRUZ SSS I.D. No. 123 1-1-11


PEDRO DELOS SANTOS SSS I.D. No. 222 2-1-11
MARIA DELA CRUZ SSS I.D. No. 333 3-1-11
MARIA MAKILING SSS I.D. No. 444 4-1-11
JUAN TAMAD SSS I.D. No. 555 5-1-11

all known to me to be the same persons who executed the


foregoing instrument and hereby acknowledged to me that the same is their
free and voluntary act and deed.

This instrument consisting of two (2) pages, including this page on


which this acknowledgment is written refers to a DEED OF CHATTEL
MORTGAGE and has been signed by the parties and their witnesses and
sealed with my notarial seal.

WITNESS MY HAND AND NOTARIAL SEAL.

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Series of 2013.