CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

I, MS. TESS BUZZ, of legal age, single with postal address at Iloilo City
hereinafter known as the MORTGAGOR, and Rizal Commercial Banking
Corporation, Inc., Jaro Branch, through its Branch Manager Mr. William Ong,
with postal address at corner E. Lopez and Seminario Streets, Jaro, Iloilo City,
hereinafter known as the MORTGAGEE,

WITNESSETH:

That the MORTGAGOR is indebted unto the MORTGAGEE in the sum

of EIGHT HUNDRED THOUSAND (₱800,000.00), Philippine Currency,
receipt of which is acknowledged by the MORTGAGOR upon the signing
of this instrument, payable within a period specified in the provision below;

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 :Vessel Vessel/ Motor Number: 8-2482

SERIES : 2011 SERIAL/CHASSIS NO. : #463894
TYPE OF BODY: Sedan PLATE NO. TUJN 09483
YEAR MODEL : 2010 FILE NO. JSKN90223

MODE OF PAYMENT
The Borrower shall pay and liquidate the Loan within five (5) years
from and after the initial Drawdown date. Sixty percent (60.0%) of the total
drawn amount.

The Borrower shall give the Lenders written notice of such prepayment
not less than ten (10) days prior to the proposed prepayment date, which
notice, once given, shall be irrevocable and binding on the Borrower;

The Borrower shall give the Lenders written notice of such prepayment
not less than ten (10) days prior to the proposed prepayment date, which
notice, once given, shall be irrevocable and binding on the Borrower; amount
of the Loan plus any accrued but unpaid interest, penalties and other charges
(where applicable);The amount payable in respect of each prepayment shall
be the full or partial outstanding principal.
 ATTORNEY’S FEES

The Borrower shall reimburse the Lenders on demand for all

reasonable attorney’s fees and expenses, including without limitation, filing
fees and fees and expenses of counsel incurred in the enforcement of any of
the Loan Documents from and after the occurrence of an Event of Default.
Such expenses shall be reimbursed whether or not they arise during the term
of this Agreement, or the Lenders demand acceleration of the Loan or take
other action (including judicial remedies) to enforce the provisions of the
Agreement.
It is hereby agreed and understood that the amounts that may be
reimbursable under this Section 9.01 are only those that were actually
incurred by the Lenders and supported by proper documentation and/or
receipts, provided that, in the case of attorney’s fees, the reimbursable amount
shall in no case exceed the equivalent of five percent (5%) of the outstanding
principal balance of the Borrowing.

VENUE OF SUITS
The Borrower irrevocably agrees that any legal action, suit or
proceeding arising out of or relating to this Agreement may be instituted in
any competent court in Makati City, Metro Manila, Republic of the
Philippines, and by execution and delivery of this Agreement, the Borrower
submits to and accepts with regard to any such action or proceeding for itself
and in respect of its properties or assets, generally and unconditionally, the
jurisdiction of any such court. Notwithstanding the foregoing, the right of the
Borrower to bring suits, actions or proceedings arising out of or relating to
this Agreement in the courts of any other competent jurisdiction shall not be
affected.

FORCE MAJEURE

In the event that as a result of fire, typhoon, earthquake, act of

government or state, war, civil commotion, insurrection or any other event
which is beyond the control of the Borrower, the Borrower’s conduct of its
business or operations is severely curtailed in such manner as to materially
and adversely affect its ability to meet its obligations under this Agreement,
the Borrower may notify the Lenders of the said fact in writing within fifteen
(15) Days from the occurrence of the event and request for a meeting with the
Lenders to discuss the Borrower’s circumstances.

That the condition of this obligation is that,

should the MORTGAGOR perform the obligation to pay the hereinabove
cited indebtedness of Eight Hundred Thousand Pesos (₱800,000.00),
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,

th
this 17 day of April 2020 at Iloilo City, Philippines.

Sgd:

TESS BUZZ WILLIAM ONG

MORTGAGOR PNB-Jaro Branch Manager
MORTGAGEE

IN THE PRESENCE OF:

REA MALCAMPO JULO TALEON

Witness Witness

AFFIDAVIT OF GOOD FAITH

WE, the undersigned MORTGAGOR and MORTGAGEE, swear that

the foregoing chattel mortgage is made and executed for the purpose of
securing the obligation specified herein, and for no other purpose, and that
the same is a just and a valid obligation, and not one entered into for the
purpose of fraud.

Sgd:

MS. TESS BUZZ MR. WILLIAM ONG

MORTGAGOR RCBC-Jaro Branch Manager
MORTGAGEE
 SUBSCRIBED AND SWORN TO BEFORE ME, a notary
public in and for Tanjay City, Negros Oriental this 11th day of
November 2014. Affiant personally came and appeared with
Competent Evidence of Identity issued by the National Statistics
Office on October 12, 2014 at Dumaguete City Philippines, bearing
his photograph and signature, known to me as the same person who
personally signed the foregoing instrument before me and avowed
under penalty of law to the whole truth of the contents of said
instrument.

Sgd:
ATTY. REYNIL C. ARCIDE
Affiant

Doc. No. 231 Commission Serial No. 1234333

Page No. 21 Notary Public for: Tanjay City, Negros Oriental
Book No. 231 Until December 31, 2014
Series of 2014 Office: Magallanes St. Tanjay City, Negros Oriental
Roll No. 102803
IBP Lifetime Roll No. 64824; __12/06/2012 ; Negros Oriental
PTR No. 1234222; 12/06/2012: Negros Oriental
MCLE Compliance Cert. No. 123-5473; 10/04/2011