CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Chattel Mortgage, made by and between:

_____________, of legal age, (single / married / widow),

and a resident of _____________, Philippines (hereinafter
known as the MORTGAGOR);

- and -

_____________, of legal age, (single / married / widow),

and a resident of _____________, Philippines (hereinafter
known as the MORTGAGEE);

WITNESSETH; That:

The MORTGAGOR is indebted unto the MORT-GAGEE in the sum of

_____________ (P__________), Philippine Currency, receipt of which is acknowledged
by the MORTGAGOR upon the signing of this instrument, payable to the order of the
MORGAGEE without need of prior demand or notice within a period of _____________
(years/months/weeks/days), at _____________ (P__________) (monthly/weekly/daily)
starting on _____________ and on every _____________ thereafter until fully paid, with
interest thereon at the rate of _____________ (______%) percent per (month/annum).

NOW, THEREFORE, for and consideration of the afore-mentioned

indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR
hereby CONVEYS by way of CHATTEL MORTGAGE unto the MORTGAGEE,
(his/her) heirs, successors and as-signs, the following personal property now in the
possession of said MORTGAGOR:

(Description of the Subject Personal Property)

That it is the condition of this Mortgage that should the MORTGAGOR perform
the obligation to pay the afore-cited indebtedness of _____________ together with
accrued interest thereon, within the agreed term, this Chattel Mortgage shall be
discharged and shall at once become null and void and of no effect whatsoever,
otherwise, it shall subsist and remain in full force and effect and be subject to foreclosure
in the manner and form prescribed by law.

IN WITNESS WHEREOF, we have hereunto set their hands, this

_____________ at _____________, Philippines.

MORTGAGOR MORTGAGEE
With my Marital Conformity:

MORTGAGOR'S SPOUSE

SIGNED IN THE PRESENCE OF:

__________________ __________________

(ACKNOWLEDGMENT)

AFFIDAVIT OF GOOD FAITH

We, the undersigned MORTGAGOR and MORTGAGEE hereby jointly and

severally swear that we executed the foregoing Chattel Mortgage in order to secure the
indebtedness therein cited and for no other purpose or purposes contrary to law.

MORTGAGOR MORTGAGEE