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