LOAN AGREEMENT WITH CHATTEL

MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Agreement is made, executed and entered into by:

Mr. Johnson Hilton a resident of No. 12 Free Village Quezon City,

hereunto referred as DEBTOR.
and

Mr. Manny Ningil a resident of No. 19 Fetch Subdivision, hereunto

referred as CREDITOR.

WITNESSETH:

Whereas, the Debtor has a loan to the Creditor in the amount of Three
Hundred Thousand Pesos and due on November 1, 2019;

Whereas, a demand letter was served and received by Mr. Carl Grant,
the representative of the Debtor on November 15, 2019; and

Whereas, on January 17, 2020, the parties agreed to compromise.

NOW THEREFORE, the parties agreed

The Debtor agrees:

1. To pay the loan in installment basis either by cash or fund
transfer of Fifty Thousand Pesos each due on February 15, 2020, March 1,
2020, March 15, 2020, April 1, 2020, April 15, 2020 and May 1, 2020; and

2. That as security the Debtor will surrender to the Creditor the

Original Receipt and Certificate of Registration (ORCR) of his 2016 Toyota
Furtuner.

The Creditor agrees:

1. That he will extend the maturity date of the loan without
additional interest;

2. That he will accept the payment in cash or fund transfer on the

agreed date; and
Agreement to Pay Loan
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 3. Upon full payment he will return the ORCR 2016 Toyota
Furtuner.

MANNY NINGIL JOHNSON HILTON

Creditor Debtor

           
SIGNED IN THE PRESENCE OF:
 
_________________________ _______________________
 

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
_____________________________ )  SS.
 
BEFORE ME, a Notary Public for and in Quezon City ,  personally
appeared:

Name CTC Number Date/Place Issued

JOHNSON HILTON 10000004 June 2020 / Quezon City
MANNY NINGIL 20000007 June, 2020 / Quezon City

Known to me and to me known to be the same persons who executed

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

This instrument, consisting of 2 pages, including the page on which

this acknowledgment is written, has been signed on the left margin of each
and every page thereof by the concerned parties and their witnesses, and
sealed with my notarial seal.

WITNESS  MY HAND AND SEAL on this 6th day of June 2020 at
Quezon City.

Notary Public
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.

Agreement to Pay Loan

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