DEED OF CHATTEL MORTGAGE

KNOWALL MEN BY THESE PRESENTS:

That I, JOHN DELA CRUZ, of legal age, married and resident of

9000 Hormiga Street, Cebu 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, Cebu 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 Cebu City, Philippines.

JOHN DELA CRUZ

Mortgagor

With my marital consent:

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.

JOHN DELA CRUZ PEDRO DELOS SANTOS

Mortgagor Mortgagee
 SIGNED IN THE PRESENCE OF:

MARIA MAKALINAW JUAN FLORES

Witness Witness

ACKNOWLEDGMENT

Republic of the Philippines)

City of Cebu ) 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

JOHN DELA CRUZ SSS I.D. No. 123 1-1-11/Cebu

PEDRO DELOS SANTOS SSS I.D. No. 222 2-1-11/Cebu
MARIA DELA CRUZ SSS I.D. No. 333 3-1-11/Cebu
MARIA MAKALINAW SSS I.D. No. 444 4-1-11/Cebu
JUAN FLORES SSS I.D. No. 555 5-1-11/Cebu

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.