Deed of Chattel Mortgage

DEED OF CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

          That I, JUAN DELA CRUZ, of legal age, married and resident of 9000 Hormiga Street, Makati City, for and in consideration of the loan of FIVE HUNDRED THOUSAND PESOS (P500,000.00), granted to me by PEDRO DELOS SANTOS, also of legal age, married and resident of 800 Theresa Street, Makati City, to be paid one (1) year from date hereof, have transferred and conveyed by way of chattel mortgage unto said PEDRO DELOS SANTOS, his heirs, successors and assigns, free from all liens and encumbrances that certain motor vehicle, presently in my possession, more particularly described as:

                    MODEL/MAKE : 2011 Isuzu

                    COLOR : Black

                    BODY : Canter

                    MOTOR NO. : 123456

                    SERIAL/CHASSIS NO. : 789666

                    PLATE NO. : XYZ-123

of which I am the true and absolute owner by title thereto, being evidenced by Registration Certificate of Motor Vehicle No. 1122 issued in my name by the Land Transportation Office on July 6, 2011.

This chattel mortgage has been executed in order to secure the full and faithful payment of my obligation to PEDRO DELOS SANTOS in accordance with the terms and conditions of this instrument. Upon payment, this contract shall become null and void; otherwise, it shall continue in full force and effect and may be foreclosed in accordance with law.

          IN WITNESSS WHEREOF, I have hereunto signed this deed of chattel mortgage, this 5th day of May 2013 at Makati City, Philippines.

                                                           JUAN DELA CRUZ

                                                                                      Mortgagor                                                                             

With my marital consent (if married):

 MARIA DELA CRUZ

   Mortgagor’s wife

AFFIDAVIT OF GOOD FAITH

      We, the undersigned MORTGAGOR and MORTGAGEE, severally swear that the foregoing chattel mortgage is made and executed for the purpose of securing the obligation specified therein, and for no other purpose, and that the same is a just and valid obligation, and one not entered into for the purposes of fraud.

JUAN DELA CRUZ           PEDRO DELOS SANTOS

                                               Mortgagor                          Mortgagee

   

SIGNED IN THE PRESENCE OF:

MARIA MAKILING                      JUAN TAMAD

   Witness                                  Witness

ACKNOWLEDGMENT

Republic of the Philippines)
City of Makati                  ) S.S.

BEFORE ME, a Notary Public, for and in the City of Makati, this 25th day of June 2013 personally appeared:

                         Name                       Identification Card        Issued On/At

             JUAN DELA CRUZ                    SSS I.D. No. 123         1-1-11/Makati
             PEDRO DELOS SANTOS           SSS I.D. No. 222         2-1-11/Makati
             MARIA DELA CRUZ                  SSS I.D. No. 333          3-1-11/Makati  
             MARIA MAKILING                    SSS I.D. No. 444          4-1-11/Makati 
             JUAN TAMAD                           SSS I.D. No. 555          5-1-11/Makati

        all known to me to be the same persons who executed the foregoing instrument and hereby acknowledged to me that the same is their free and voluntary act and deed.

      This instrument consisting of two (2) pages, including this page on which this acknowledgment is written refers to a DEED OF CHATTEL MORTGAGE and has been signed by the parties and their witnesses and sealed with my notarial seal.

               WITNESS MY HAND AND NOTARIAL SEAL.

Doc. No. ____
Page No. ____
Book No. ____
Series of 2013.