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Chattel Mortgage Without Separate Promissory Note
Chattel Mortgage Without Separate Promissory Note
CHATTEL MORTGAGE
- and -
WITNESSETH; That:
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:
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 have hereunto set their hands, this _____________ at
_____________, Philippines.
MORTGAGOR MORTGAGEE
_________________ _________________
(ACKNOWLEDGMENT)
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
(JURAT)