Chattel Mortgage

CHATTEL MORTGAGE KNOW ALL MEN BY THESE PRESENTS: This contract of CHATTEL MORTGAGE is entered into by and between: ABDUL KIMAR, of legal age, Filipino, married and a resident of Pabalan Village, Digos City, Davao del Sur, hereinafter referred to as the First Party Mortgagor; ELLEN ADARNA, likewise of legal age, Filipino, single and a resident of Digos City, Davao del Sur, hereinafter referred to as the Second Party Mortgagee; WITNESSETH That the first party mortgagor is an owner of a motor vehicle more particularly described as follows to wit: Make/Series : TOYOTA Plate No. : MAZ-954 Motor No. : 4K-6587540 Chassis No. : EVER9435507-C Type : JEEP MV File No. : 1220-96570 CR No. : 9064962-4 OR No. : 6525131-4 That the MORTGAGOR is indebted unto the MORTGAGEE in the sum of FIFTEEN THOUSAND PESOS (P15,000.00), Philippine Currency, receipt of which is acknowledged by the MORTGAGOR upon the signing of this instrument, payable on or before February 11, 2011, with interest thereon at the rate of ten (10) % per month of ONE THOUSAND FIVE HUNDRED PESOS, Philippine Currency; That for, and in consideration of this indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR hereby convey by way of CHATTEL MORTGAGE unto the MORTGAGEE, her heirs and assigns, the above-described motor vehicle which is now in the possession of the MORTGAGOR; That the condition of this CHATTEL MORTGAGE is that should the MORTGAGOR perform the obligation to pay the hereinabove cited indebtedness of FIFTEEN THOUSAND

PESOS (P15,000.00) together with the CORRESPONDING monthly interests for six (6) months, this chattel mortgage shall at once become null and void and no effect whatsoever, otherwise, it shall remain in full force and effect; That upon full payment thereof, the MORTGAGEE shall cause for the execution of Release of Chattel Mortgage; That however, if the MORTGAGOR cannot pay the loan and all the corresponding interests upon the due date, the MORTGAGEE shall proceed to EXTRA-JUDICIAL FORCLOSE the mortgage under the law on EXTRAJUDICIAL FORECLOSURE; That this mortgage contract was executed in good faith for the benefit of both parties; In witness whereof, we have hereunto set our hands this 6th day of January 2017 at Digos City, Davao del Sur, Philippines. ABDUL KIMAR

ELLEN

ADARNA Mortgagor SSS ID No. 09-1498948-2 __________________________

Mortgagee

page two/chattel mortgage…/ rosales to ticong …/ With my Marital Consent: VIRGILIO ROSALES __________________ Signed in the presence of: BARUC

PEDRO ANOD

PATRIA

Witnesses NOTARIAL ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES) PROVINCE OF DAVAO DEL SUR ) CITY OF DIGOS ) S.S. X - / Before me this 6th day of January 2017 at Digos City, Davao del Sur, Philippines, personally appeared the parties

of this instrument with their CTC/ID/Licence Nos. as above indicated, all known to me and to me known to be the same persons who executed the foregoing instruments and they acknowledged to me that the same is their free act and voluntary deed. This instrument consists of two (2) pages including the page on which this acknowledgement is written has been signed by the parties including the instrumental witnesses; In witness whereof I have hereunto set my hand and affixed my notarial seal on the date and place above written.

Doc No. ____ Page No. ____ Book No. ____ City Series of 2017 City 6, 2010 Digos City

JAMES L. DECOLONGON Notary Public Until December 31, 2017 Roll No.: 82714 IBP No. 631820, January 6, 2014, Digos PTR No.080324 January 6, 2014 Digos TIN: 290-937-407 January

AFFIDAVIT OF GOOD FAITH We severally swear that the foregoing Chattel Mortgage is made 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 not one entered into for the purpose of fraud. ABDUL KIMAR ADARNA Mortgagor

ELLEN Mortgagee

SUBSCRIBED AND SWORN to before me this6th day of January 2017 in Digos City, Davao del Sur, Philippines. Affiants exhibited to me their Valid Identification as above indicated.

Doc No.

____

JAMES L. DECOLONGON Notary Public Until December 31, 2017

Page No. ____ Book No. ____ City Series of 2017 City 6, 2010 Digos City

Roll No.: 82714 IBP No. 631820, January 6, 2014, Digos PTR No.080324 January 6, 2014 Digos TIN: 290-937-407 January