DEED OF CHATEL MORTGAGE

(First paragraph format is the same as real estate mortgage)

That the MORTGAGOR is indebted unto the MORTGAGEE in the sum of

____PESOS (P______), Philippine Currency, receipt of which is acknowledged by the
MORTGAGOR upon the signing of this instrument, payable within a period of ____ ( )
years, with interest thereon at the rate of ____ ( ) per cent, per annum;

That for and in 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 personal
property now in the possession of said MORTGAGOR:

(describe personal property mortgaged)

That the condition of this obligation is that should the MORTGAGOR perform the
obligation to pay the herein-above indebtedness of _____, 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 on the ___ day
of January, 2001 at Quezon City, Philippines.

Signature of Mortgagor

SIGN IN THE PRESENCE OF: __________ __________

AFFIDAVIT OF GOOD FAITH

We severally swear that the foregoing mortgage is made for the purpose of securing
the obligation specified in the conditions thereof, and for no other purpose, and that the
same is a just and valid obligation, and one not entered in for the purpose of fraud.

Signature of Mortgagee Signature of Mortgagor

ACKNOWLEDGMENT

***This form is executed in the same way as a real estate

mortgage except that the mortgage given is in the form of
personal property and this mortgage must incorporate an Affidavit of Good Faith.

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 -ACKNOWLEDGMENT-

REPUBLIC OF THE PHILIPPINES )

CITY/MUNICIPALITY OF ___________ ) S. S.

BEFORE ME, a Notary Public for and in the Province/City of _______________ this ____
day of ________, 19 ____, personally came and appeared _____________________ with
Community Tax Certificate No. A- _________________ issued on __________________ at
__________________, and Taxpayer’s Identification No. ___________________ known to me
and to me known to be the same person who executed the foregoing instrument which he
acknowledged before me as his free and voluntary act and deed.

WITNESS MY HAND AND SEAL, this ______ day of __________ , 19 ____ at

______________________.

Doc. No. _____;

Page No. _____;
Book No. _____; Notary Public
Series of 2000. Until December 31, 2000
PTR No. ________________ (date & place of issue)
Roll of Atty. No. ____________
IBP Receipt No. ____________ (date & place issue)