CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Chattel Mortgage, made by and between:

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

resident of _____________, Philippines (hereinafter known as the
MORTGAGOR);

- and -

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

resident of _____________, Philippines (hereinafter known as the
MORTGAGEE);

WITNESSETH; That:

The MORTGAGOR is indebted unto the MORT-GAGEE in the

sum of _____________ (P__________), Philippine Currency,
receipt of which is acknowledged by the MORTGAGOR upon the
signing of this instrument, payable to the order of the MORGAGEE without
need of prior demand or notice within a period of _____________
(years/months/weeks/days), at _____________ (P__________)
(monthly/weekly/daily) starting on _____________ and on every
_____________ thereafter until fully paid, with interest thereon at the
rate of _____________ (______%) percent per (month/annum).

NOW, THEREFORE, for and consideration of the afore-mentioned

indebtedness, and to assure the performance of said obligation to pay, the
MORTGAGOR hereby conveys by way of CHATTEL MORTGAGE unto the
MORTGAGEE, (his/her) heirs, successors and as signs, the following personal
property now in the possession of said MORTGAGOR:

(Description of the Subject Personal Property)

That it is the condition of this Mortgage that should the MORTGAGOR

perform the obligation to pay the afore-cited
indebtedness of _____________ together with accrued interest thereon,
within the agreed term, this Chattel 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 have hereunto set their hands, this
_____________ at _____________, Philippines.

MORTGAGOR MORTGAGEE

With my Marital Conformity:

Mortgagor's Spouse

SIGNED IN THE PRESENCE OF:

_________________ _________________

(ACKNOWLEDGMENT)

AFFIDAVIT OF GOOD FAITH

We, the undersigned MORTGAGOR and MORTGAGEE hereby jointly and

severally swear that we executed the foregoing Chattel Mortgage in order to
secure the indebtedness therein cited and for no other purpose or purposes
contrary to law.

MORTGAGOR MORTGAGEE

(JURAT)