LOAN AGREEMENT with

CHATTEL MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:

This Real Estate Mortgage, made by and between:

____________________, of legal age, Filipino, and with address at

___________________ (hereinafter known as the MORTGAGOR);

-and-

____________________, of legal age, Filipino, and with address at

__________________________ (hereinafter known as the MORTGAGEE);

WITNESSETH; That:

The MORTGAGOR is indebted unto the MORTGAGEE in the sum of FIVE PESOS
(PhP5,000,000.00), receipt of which is acknowledged by the MORTGAGOR upon the signing of this
instrument, payable to the order of the MORTGAGEE without need of prior demand or notice within a
period of one year, starting ________________ and on every 30 th of the month thereafter until fully paid,
with interest thereon at the rate of _______ percent (3%) per month.

NOW, THEREFORE, for and consideration of the aforementioned indebtedness, and to assure the
performance of said obligation to pay, the MORTGAGOR does hereby convey and deliver by way of
MORTGAGE unto the MORTGAGEE, his heirs, successors and assigns, the following parcel of land,
together with all the improvements founds and standing thereon, more particularly described as follows:

1. TCT No. ________ – Lot ____ of the subdivision plan (LRC) ___________________, situated in
_________________, containing an area of ___________ (____) SQUARE METERS.

That it is the condition of this Mortgage that should the MORTGAGOR perform the obligation to
pay the aforesaid indebtedness of PhP_____________together with accrued interest thereon, within the
agreed term, this Real Estate 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 our hands, this ______ day of ___________,
20__ at ___________________, Philippines.

________________________ ________________________
Mortgagor Mortgagee

With my Marital Conformity:

___________________
Mortgagor’s Spouse

SIGNED IN THE PRESENCE OF:

___________________________ ___________________________

1
 ACKNOWLEDGEMENT

BEFORE ME, personally appeared:

Name Govt. issued I.D. I.D. No.

1.
2.

They are known to me to be the same persons who presented the foregoing contract and
acknowledged to me that the signatures they affixed in it are their voluntary acts for the purposes stated in
their document.

SIGNED AND SEALED in ______________, ______________________, 20__.

NOTARY PUBLIC
Doc. _____;
Page ______;
Book ______;
Series of 20____.

2
 Date: ____________________

Principal Amount: Php ___________________

PROMISSORY NOTE
For the value received, the undersigned ______________________, referred to as the “Maker”, residing at
_________________________________________________________, promises to pay to
________________________ or order, hereinafter referred to as the “Holder”, with address at
______________________________, the principal amount of _______________________________
Pesos (Php _____________________) together with a stipulated interest of ___% of the principal amount
per month from the date hereof until the sum owed is paid in full. The principal together with its principal
shall be payable as stated on the succeeding page of this promissory note.

If the Holder has not received the full amount of any monthly payments after the, the Maker shall
owe a late payment fee to the Holder of 1% of the principal loan amount, due immediately in addition to the
previously owed balance. If the owed balance and late fees is not paid promptly and immediately, the
Holder may, at his/her option, declare the Note in Default.

It is further agreed upon that if court’s action is resorted, the payment of Twenty Five Percent
(25%) of the total amount due, shall be collected by way of attorney’s fees and cost of suit.

The terms and conditions of this Promissory Note shall inure to the benefit of and shall be binding
and severally upon the successors, assigns, heirs, survivors and personal representatives of the Maker and
Holder and shall inure to the benefit of any Holder, legal representatives, successors and assigns.

In connection with my promissory note/loan application, we executed a Real Estate Mortgage in

order to secure my obligation.

This Promissory Note is ABSOLUTE and IRREVOCABLE until the total obligation is fully paid.

Executed this ____ day of _________ 20____ at _________________, Philippines.

_______________________
MAKER
Witnesses:

______________________ _______________________

SUBSCRIBED AND SWORN to before me this _____ day of ______________________, affiant

exhibiting to me affiant exhibiting to me his/her issued government valid ID
____________________________________ issued on ___________ at _________________.

Doc No.______;
Page No._____;
Book No._____;
Series of 20___.

3
 ACKNOWLEDGEMENT RECEIPT

I, _________________________ received the amount of

__________________________ PESOS (Php____________________.00) from MRS. MA.
GRACIA F. PADILLA this ____ day of ______________ 20___ at
_________________________, Philippines.

_______________________

Witnesses:

___________________ _____________________

SUBSCRIBED AND SWORN to before me this _____ day of ______________________,

affiant exhibiting to me affiant exhibiting to me his/her issued government valid ID
____________________________________ issued on ___________ at
_________________.

Doc No.______;
Page No._____;
Book No._____;
Series of 20___.