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    Pledge

    Uploaded by

    Drew Reyes
    1. Ydrel Obsioma pledges his red Honda motorcycle with engine and chassis numbers to Dan Oliver Carreon as collateral for a PHP40,000 loan. 2. The pledge will be void if Obsioma repays the loan within 3 months, otherwise Carreon can claim the motorcycle. 3. Even if Obsioma sells the motorcycle, the new owner takes it subject to the pledge, and Carreon retains possession until the promissory note is paid.

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    Pledge

    Uploaded by

    Drew Reyes
    573 views2 pages
    1. Ydrel Obsioma pledges his red Honda motorcycle with engine and chassis numbers to Dan Oliver Carreon as collateral for a PHP40,000 loan. 2. The pledge will be void if Obsioma repays the loan within 3 months, otherwise Carreon can claim the motorcycle. 3. Even if Obsioma sells the motorcycle, the new owner takes it subject to the pledge, and Carreon retains possession until the promissory note is paid.

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    1. Ydrel Obsioma pledges his red Honda motorcycle with engine and chassis numbers to Dan Oliver Carreon as collateral for a PHP40,000 loan. 2. The pledge will be void if Obsioma repays the loan within 3 months, otherwise Carreon can claim the motorcycle. 3. Even if Obsioma sells the motorcycle, the new owner takes it subject to the pledge, and Carreon retains possession until the promissory note is paid.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    573 views2 pages

    Pledge

    Uploaded by

    Drew Reyes
    1. Ydrel Obsioma pledges his red Honda motorcycle with engine and chassis numbers to Dan Oliver Carreon as collateral for a PHP40,000 loan. 2. The pledge will be void if Obsioma repays the loan within 3 months, otherwise Carreon can claim the motorcycle. 3. Even if Obsioma sells the motorcycle, the new owner takes it subject to the pledge, and Carreon retains possession until the promissory note is paid.

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    © All Rights Reserved
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    of 2

    CONTRACT OF PLEDGE

    KNOW ALL MEN BY THESE PRESENTS:


    I, YDREL OBSIOMA, Filipino, of legal age, single, and a resident of Gun-ob,
    Lapu-Lapu City, Cebu (hereafter referred to as PLEDGOR) am the absolute owner of
    the following described motor vehicle:
    Make
    ----------------- Honda Motorcycle
    Engine No.
    ----------------- Ix250de-000491
    Chasis No.
    ----------------- Ix250de-000129
    Plate No.
    ----------------- MD-6636
    Color
    ----------------- Red
    Certificate of Registration
    ----------------CR No. 23647890
    Issued by
    ----------------LTO, Lapu-Lapu City
    Official Receipt No.
    ----------------- 37833546
    That for and in consideration of the sum of Forty Thousand Pesos
    (Php40,000.00), Philippine Currency, which I have received from DAN OLIVER
    CARREON, Filipino, of legal age, single, and a resident of Basak, Lapu-Lapu City
    (hereafter referred to as PLEDGEE ) , I, the said PLEDGOR, do hereby pledge unto
    said PLEDGEE the above-described motorcycle together with all its accessories,
    provided that should I pay the said loan within a period of three (3) months from the
    date of this contract, then this contract of pledge would be without any legal effect,
    otherwise it may be proceeded in the manner prescribed by law.
    During the existence of said pledge, the PLEDGEE hereby consents, that the
    thing pledged may be alienated by the PLEDGOR or owner, subject to the pledge. The
    ownership of the thing pledged is transmitted to the vendee or transferee as soon as
    it is alienated, however, the PLEDGEE shall remain in possession of such until the
    principal obligation (by virtue of a Promissory Note attached herewith and made an
    integral part hereof as Annex A) is extinguished.
    IN WITNESS WHEREOF, we have hereunto affixed our signatures this 30 th day
    of June 2014 in the City of Lapu-Lapu, Philippines.

    YDREL OBSIOMA
    Pledgor

    DAN OLIVER CARREON


    Pledgee

    SIGNED IN THE PRESENCE OF:

    ______________________

    _____________________

    ACKNOWLEDGMENT
    REPUBLIC OF THE PHILIPPINES
    CITY OF LAPU-LAPU

    }
    } s.s

    BEFORE ME this 30th day of June, 2014 in the City of Lapu-Lapu, personally
    appeared YDREL OBSIOMA, exhibiting his Community Tax Certificate Number
    12895671 issued in Gun-ob, Lapu-Lapu City on January 5, 2014, and DAN OLIVER
    CARREON exhibiting his Community Tax Certificate No. 7891011 issued in Basak,
    Lapu-Lapu City on February 3, 2014, known to me to be the same persons who
    executed the foregoing document and they acknowledged that the same is their free
    and voluntary act and deed.

    This document consists of two (2) pages including the page on which this
    acknowledgment is written, all signed by the parties and the instrumental witnesses
    on every page thereof.
    WITNESS MY HAND AND NOTARIAL SEAL.

    CONCHITA R. PO
    Notary Public
    My commission expires
    on December 31, 2015
    PTR No. 906760 issued Jan. 3, 2014
    IBP No. 918300 Roll No. 13466
    Doc. No. ____
    Page No. ____
    Book No. ____
    Series of 2014

    PROMISSORY NOTE
    June 30, 2014
    P 40,000
    Lapu-Lapu City, Cebu, Philippines
    Three (3) months after date, I promise to pay, for value received, to DAN
    OLIVER CARREON or order the sum of FORTY THOUSAND (40,000) PESOS,
    with interest at 3 percent per annum after maturity until paid.

    YDREL OBSIOMA
    Maker

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