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CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:


This CHATTEL MORTGAGE executed in the City of Zamboanga, Philippines, by and between:

_____________________________________, Filipino, of legal age, married, with residence at postal address at


Mampang,, Zamboanga City, hereinafter referred to as the MORTGAGEE.

-
In favor of -
-
_____________________________________, Filipino, of legal age, single/married, with residence and postal address

at _____________________________, Zamboanga City, and hereinafter referred to as the MORTGAGOR.

WITNESSETH: That -
1. The MORTGAGOR hereby hypothecates and conveys by way of Chattel Mortgage unto the MORTGAGEE, his
successors and assigns, the following described personal property situated at ____________________, Zamboanga
City, and now in the possession of the Mortgagor, to wit:
Make and type : __________________________
Engine Number : __________________________
Chassis Number : __________________________
Color : ____________
Plate Number : ____________
C.R. No. :__________________________
O.R. No. : __________________________

2. This mortgage is given as security for the payment of a loan obtained by the MORTGAGOR from the
MORTGAGEE, or any renewal or extension thereof in the form of additional loans or promissory notes, as the case
may be, in the initial amount of ____________________________________ THOUSAND
PhPESOS(PhP___,000.00), Philippine Currency, and payable in accordance with the terms and conditions of that
certain Promissory note executed by the Mortgagor in favor of the Mortgagee under Account
Number:____________________;

3. In case the MORTGAGOR fails to pay any of the installments, or to pay interest that may due as provided in the
same promissory note/s. The whole amount remaining unpaid shall immediately become due and payable at the
option of the MORTGAGEE, and this mortgage on the property herein above-described may be foreclosed by the
MORTGAGEE, and in such case the MORTGAGOR further agrees to pay the MORTGAGEE additional sum of
33% of the principal due and unpaid, as liquidated damages, which sum shall be added to the principal sum for
which is given as security, and shall become part thereof and likewise secured by this mortgage, and the
MORTGAGOR hereby waives reimbursement of all amount paid by him to the MORTGAGEE;

4. It is understood and agreed between the parties hereto that, should all or any of the properties mortgaged herein be
lost, destroyed or damaged for any reason whatsoever, the MORTGAGOR agrees to give, immediately thereafter, to
the MORTGAGEE, sufficient additional security as the MORTGAGEE may determine to cover the balance of the
amount which may at the time be owed to the MORTGAGEE under the said Promissory Note, and should the
MORTGAGOR FAIL to give said additional security, then and in that case the whole amount unpaid under the said
Promissory Note shall become due and payable, together with the 33% of the principal due and unpaid, as liquidated
damages as herein stipulated; and its is further understood and agreed that the property herein mortgaged shall be
considered as lost for all intents and purposes if the MORTGAGOR fails to produce the same, or any part thereof, on
demand.

__________________________ _______________________
MORTGAGOR MORTGAGEE
ID No: _____________________ ID No. _____________________
Issued by: _________________ Issued by: __________________
Issued on: _________________ Issued on : _________________
Issued at: Zamboanga,City Issued at: Zamboanga City

SIGNED IN THE PRESENCE OF:

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___________________________ and _________________________

5. It is further understood and agreed between the parties hereto that in case of default on the part of the
MORTGAGOR in the payment of any amount in accordance with said Promissory Note, the property herein
mortgaged shall be delivered on demand, to the MORTGAGEE in the city of Zamboanga or any place designated
by the MORTGAGEE free of all charges lien and encumbrances and should the MORTGAGOR fails to deliver the
said property to the MORTGAGEE on demand, and in that case the MORTGAGEE is hereby authorized to enter the
premises where the mortgaged property maybe located and have it brought to Mortgagor’s premises by the use of
force if necessary, without need for any order of any court or any other power or permission other than herein
granted, and the expenses and all actions in locating and bringing it to such premises or to the designated place shall
be for the account of the MORTGAGOR and considered done with his consent and authority, and shall be included
in the sum for which mortgaged is given as security, it being understood that in such case the MORTGAGEE shall
have the option of selling the said property either at public or private sale at the City, the MORTGAGOR hereby
waiving all his rights to any notice of such sale and all other rights he has under the Chattel Mortgage Law as well as
to any and all actions or claims against the MORTGAGEE arising or that may arise from the latter’s taking
possession of the property. Provided, that should the MORTGAGOR fail to deliver the property herein mortgaged
on demand, the same shall be considered an admission and confession by the MORTGAGOR that he has removed,
sold or pledged the property mortgaged in violation of Article 319 of the Revised Penal Code;

6. The MORTGAGEE shall have the right to purchase the mortgaged property, or any part thereof at the Public
Auction held for the purpose of foreclosure of this mortgage and to have the amount of its bid applied to the
payment of the obligations secured by the mortgage. The MORTGAGEE may without the consent to the
Mortgagor /Maker assign his rights under this agreement to any third party who shall exercise all the rights of the
MORTGAGEE, and it is hereby agreed that any and all questions a rising under the Chattel Mortgage may be
submitted, at the option of the ASSIGNEE, to a court of competent jurisdiction in Zamboanga City.

7. The MORTGAGOR agrees to repair or cause to be repaired the above-mentioned chattels and notice is hereby given
to the whole world. that the MORTGAGEE will not be responsible for, nor can the chattels, or any part thereof, be
held under lien for and indebtedness whatsoever outside of the debt herein secured, and the MORTGAGOR agrees
not to pass possession of the chattels to another person for any purpose whatsoever during the effectively of this
mortgage.

8. The MORTGAGOR agrees that its address stated herein shall, in the event of the foreclosure of this mortgage,
his/her postal address indicated herein shall be considered as the MORTGAGOR’S abode for the purpose of service
of the notice of foreclosure upon said MORTGAGOR.

9. The MORTGAGOR agrees to execute and deliver unto the MORTGAGEE such further documents as may, from
time to time, be required by the MORTGAGEE to give full force and validity to this mortgage, and to furnish all
documentary stamps necessary for this transaction and to pay all fees and expenses for the execution, registration
and cancellation of this documents and all other documents executed in connection therewith.

10. The obligation hereby undertaken, if made by more than one MORTGAGOR, is joint and several (solidarity).

11. If any condition of this mortgage is held invalid or contrary to law, the validity of the other conditions of this
mortgage shall not be affected thereby;

12. The conditions of this mortgage is such that, if the MORTGAGOR, his heirs, executors or administrators or assigns,
shall well and truly perform the full obligations above stated according to the terms thereof, then this mortgage shall
be null and void; otherwise, it shall remain in full force and effect.

Executed at Zamboanga City, Philippines this ___ day of _____________, 201__.

__________________________ _______________________
MORTGAGOR MORTGAGEE
ID No: _____________________ ID No. _____________________
Issued by: _________________ Issued by: __________________
Issued on: _________________ Issued on : _________________
Issued at: Zamboanga,City Issued at: Zamboanga City

SIGNED IN THE PRESENCE OF:

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___________________________ and _________________________

-Acknowledgment -
Republic Of The Philippines . . .)
City Of Zamboanga. . . . . . . . . )S.S.
x- - - - - - - - - - - - - - - - - - - - x )
BEFORE ME, on the date and place first above-written, PERSONALLY APPEARED the
above-named persons, exhibiting competent evidence of their identities by presenting their
respective Identification cards as indicated below their respective names, known to me and to me
known to be the same persons who executed the foregoing instrument, and acknowledged to me that
the same is their own free and voluntary act and deed.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal on
the day, year, and place above-written.

Doc. No:______
Page No: _______ administering officer
Book No: _______
Series of 2019

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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 in the condition thereof, and for no other purpose, and that
the same is a just and valid obligation and one not to entered into for the purpose of
fraud.
In witness whereof, we herein set our hands this _____ th day of __________,
2018 at Zamboanga City, Philippines.

__________________________ _______________________
MORTGAGOR MORTGAGEE
ID No: _____________________ ID No. _____________________
Issued by: _________________ Issued by: __________________
Issued on: _________________ Issued on : _________________
Issued at: Zamboanga,City Issued at: Zamboanga City

SIGNED IN THE PRESENCE OF:

___________________________ and _________________________

-Oath-
Republic of the Philippines … .)
City of Zamboanga . .. . . . . . .. )
x - - - - - - - - - - - - - - - - - - - x)
SUBSCRIBED AND SWORN to be before me at Zamboanga City,
Philippines. Parties exhibited competent evidence of their identities through the
Identification Cards indicated below their respective names.

Doc. No:_______
Page No: _______ administering officer
Book No: _______
Series of 2019

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