Chattel Mortgage Sample 5q2x5k

CHATTEL MORTGAGE KNOW ALL MEN BY THESE PRESENTS: I, Denize C. Dangz of legal age, single, with postal address at 123 Upper Pinget, Baguio City known as the MORTGAGOR, and Jacquelyn F. Maliaman of legal age, single, with postal address at 234 Dreamland Subdivision, Baguio City known as the MORTGAGEE, witness: That the MORTGAGOR is indebted to the MORTGAGEE in the sum of FOUR MILLION PESOS (P 4,000,000.00), Philippine Currency, receipt of which is acknowledged by the MORTGAGOR upon the g of this instrument, payable within a period of 7 years from the release of the borrowed amount. The payment shall be in instalment basis, that is, Php 20,000.00 every 15th and 30th day of the month. The MORTGAGOR agrees to pay an interest of 3% per month. That for, and consideration of , this indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR hereby conveys by way of CHATTEL MORTGAGE unto the MORTGAGEE, his heirs and assigns, the following personality now in the possession of said MORTGAGOR MAKE : MERBENZ SERIES : E350 TYPE OF BODY : 4dr. YEAR MODEL : 2015

MOTOR NO.

:94215678654325

SERIAL/CHASSIS NO. : AAA15678654325 PLATE NO. : ABC 8123 FILE NO. : 1234-54321

That the condition of this obligation is that should the MORTGAGOR perform the obligation to pay the previously cited indebtedness of FOUR MILLION PESOS (Php 4,000,000.00) together with accrued interest thereon, this chattel mortgage shall at once become null and void and of no effect whatsoever, otherwise, it shall remain in full force and effect. IN WITNESS WHEREOF, the parties have hereunto set their hands, this ____day of ____________ 20___ at ____ Philippines.

_______________________________ MORTGAGOR

_______________________________ MORTGAGEE

IN THE PRESENCE OF: _______________________________

_______________________________

ACKNOWLEDGEMENT

Republic of the Philippines) Baguio City) S.S BEFORE ME, personally appeared: Name Denize C. Dangz Jacquelyn F. Maliaman

CTC Number 10000000 10000000

Date/Place Issued Jan 01, 2016 / Baguio City Jan 11, 2016 / Baguio 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 is their free and voluntary act and deed. WITNESS MY HAND AND SEAL, on the date and place first above written.

NOTARY PUBLIC Doc. No.______; Page No. ______; Book No.______; Series of 20__.