(Release of Chattel Mortgage on Motor Vehicle)

RELEASE OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

I, _____________, of legal age, Filipino, (single / married / widow), and a resident of

_____________, Philippines,

WITNESSETH:

That I am the Mortgagee in that Deed of Chattel Mortgage executed by _____________

on _____________ and registered as Doc. No. ______; Page No. ______; Book No. ______;
Series of ______, in the Notarial Register of Notary Public _____________;

That having this date received the full amount of __________________________

(P__________), in Philippine Currency, from the Mortgagor, which is in full and complete
settlement of the obligation secured by the said mortgage, I do hereby forever RELEASE,
DISCHARGE, AND CANCEL the aforementioned Mortgage, covering the motor vehicle that is
more particularly described as follows:

Make: _____________ Motor No.: _____________

Series: _____________ Chassis No.: _____________
Type of Body: _____________ Plate No.: _____________
CR No.: _____________ MVRR No.: _____________

IN WITNESS WHEREOF, I have hereunto set my hand, this _____________ at

_____________, Philippines.

MORTGAGEE

SIGNED IN THE PRESENCE OF:

__________________ __________________

(ACKNOWLEDGMENT)