M ORTGAGE L OAN A GREEMENT

KNOW BY ALL THESE MEN PRESENTS:

This agreement made and entered into by and between:
xxx, of legal age, Filipino, and with residence at xxx, Philippines, hereinafter referred to as
the BORROWER;
- and -
xxx, of legal age, Korean, and a resident of xxx, Philippines, hereinafter referred to as
LENDER;

WITNESSETH:
WHEREAS, the BORROWER hereby offers to the LENDER to borrow an amount of xxx
and set as collateral a motor vehicle, and the LENDER hereby accepts the offer thereto;
NOW, THEREFORE, for in and consideration of the foregoing premises, the parties hereby
agree and mutually enter into this covenant with the following terms and conditions, THAT:
1. Loan Amount. Lender agrees to loan Borrower the principal sum of xxx (the “Loan”),
and in accordance with the terms set forth below.
The amount of xxx shall be paid through CASH by the LENDER to the BORROWER.
2. Interest. The BORROWER shall pay the LENDER an interest of xxx per month based
on the principal amount of xxx. The interest shall become due, and shall be duly paid by
the borrower, every xxx day of the month.

3. Security. The loan is secured by collateral. BORROWER agrees that until the Loan
together with interest is paid in full, the Loan will be secured by a chattel mortgage for
which the BORROWER hereby agrees to set as collateral her motor vehicle more
particularly described as follows:

MAKE/SERIES : xxx
TYPE OF BODY : xxx
PLATE NO. : xxx
MOTOR NO. : xxx
CHASSIS NO. : xxx
ENGINE NO. : xxx

and BORROWER hereby grants to LENDER a security interest in and to such property,
BORROWER hereby surrenders a copy of the Original Official Receipt and Certificate of
Registration to the LENDER.

4. Payment of the Principal. The BORROWER hereby promises to pay the principal
amount in full on or before xxx. Failure to pay thereof entitles the LENDER to exercise
her rights against the BORROWER accordingly.

IN WITNESS WHEREOF, the PARTIES hereto have hereunto set their hands this
____________ at _________________, Philippines.

xxx xxx

1
 BORROWER LENDER

SIGNED IN PRESENCE OF:

_______________________ -and- _______________________

Republic of the Philippines]

xxx CITY ] ss.
**************************

ACKNOWLEDGEMENT

BEFORE ME, a notary public for __________________, on _______

_________________________ 2022, personally appeared the following persons bearing their
respective valid identifications as competent proof of their identity:

xxx ID:
Valid until:
xxx ID:
Valid until:

They represented before me to be the same persons who executed the foregoing instrument
consisting of two (2) pages (including this acknowledgement page) they and their witnesses duly
signed. They likewise acknowledged to me they have read and understood its contents and that its
execution and signing are their free act and deed.

WITNESS MY HAND AND SEAL.

Doc. No.______;
Page No. _____;
Book No. _____;
Series of 2022.