CHATTEL MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:
That I, (NAME OF MORTGAGOR-DEBTOR), of legal age, married to (NAME OF SPOUSE), and a resident of (Place of Residence), for and in consideration of the loan of (AMOUNT OF LOAN IN WORD) PESOS (PhP Amount in Figure), Philippine Currency, granted to me by (NAME OF MORTGAGEE-CREDITOR), of legal age, single, and a resident of (Place of Residence), payable in THREE (3) YEARS from date of signing of this agreement, hereby TRANSFER and CONVEY by way of Chattel Mortgage unto said mortgagee-creditor, his heirs, successors and assigns, that certain motor vehicle, free from all liens and encumbrances, and is at present in my possession at my place of residence, more particularly described as follows:
Model/Make No./Color :
Chassis No. :
Engine No. :
of which I am the true and absolute owner by title thereto, being evidenced by Registration Certificate of Motor Vehicle No. _________ issued in my name by the Land Transportation Office on ___________.
This Chattel Mortgage has been executed in order to secure the full and faithful payment of my obligation to (NAME OF MORTGAGEE-CREDITOR) 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 that the property above-stated may be foreclosed in accordance with law.
IN WITNESS WHEREOF, I have signed this document on (Date of Signing) at (Place of Signing).
(NAME OF MORTGAGOR-DEBTOR)
AFFIDAVIT OF GOOD FAITH
We severally swear that Mortgagor and Mortgagee have executed the foregoing Chattel Mortgage in order to guarantee as good and binding the obligations mentioned above and is not intended to defraud creditors.
NAME OF MORTGAGOR-DEBTOR NAME OF MORTGAGEE-CREDITOR
Signed in the presence of: ______________________ ______________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
CITY OF ________________ ) S.S.
BEFORE ME, a Notary Public for and in the City of ________________, this day of (Date of Notarization), personally appeared:
Name Government Issued ID Date/place of Issue
to me known and known to me to be the same persons who signed and executed the foregoing Agreement and each acknowledged to me that the same is executed as his/her free and voluntary act and deed.
IN WITNESS WHEREOF, I have hereunto affixed my signature and notarial seal in (Place of Notarization), (Date of Notarization).
Notary Public
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____.
