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Security Interest

This security agreement creates a security interest in a movable asset owned by the Grantor in favor of the Secured Creditor. The Grantor agrees to encumber the asset to secure payment of 100,000 Philippine pesos owed by the Grantor to the Secured Creditor under a prior agreement from (date). Both parties signed the agreement which was notarized, acknowledging their signatures and the creation of the security interest over the movable property.

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Atty. Anthony Frayna
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128 views

Security Interest

This security agreement creates a security interest in a movable asset owned by the Grantor in favor of the Secured Creditor. The Grantor agrees to encumber the asset to secure payment of 100,000 Philippine pesos owed by the Grantor to the Secured Creditor under a prior agreement from (date). Both parties signed the agreement which was notarized, acknowledging their signatures and the creation of the security interest over the movable property.

Uploaded by

Atty. Anthony Frayna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SECURITY AGREEMENT

This security Agreement (the “Agreement”) made and executed on this _____ day of
______________2022 at ____________________, by and between:

(name of Grantor), of legal age, single/married to ______________________ residence and


postal address at ________________________, hereinafter referred to as “GRANTOR”

-and-

(name of SECURED CREDITOR), of legal age, single/married to ___________________ with


residence and postal address at, hereinafter referred to as “SECURED CREDITOR”

WITNESSETH:

1. The GRANTOR agrees to create a security interest over the movable property described below,
in favor of the SECURED CREDITOR, to secure its obligation to pay ONE HUNDRED TRHOUSAND
PESOS ( Php 100,000.00 ) under (description of the agreement from which the obligation
arises, including the date the agreement was entered into)

2. The security interest covered under this Agreement shall cover the movable property described
below:
(Description of encumbered asset, for example located at……, manufactured by ….., with
serial number……)

IN WITNESS WHEREOF, the parties hereunto set their hands on this _____ day of
______________ at _______________________.

Name of GRANTOR name of SECURED CREDITOR

Signed in Presence of:

___________________________ __________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )


PROVINCE OF ALBAY )
TABACO CITY ) S.S

BEFORE ME, a Notary Public for and in Tabaco City and Albay Province this _____ day of
_____________ 20__ personally appeared:

NAME COMPETENT EVIDENCE OF EXPIRY DATE


IDENTITY
Grantor
Secured Creditor
Known to me as the same persons who executed the foregoing Agreement and acknowledged
to me that the same is their free and voluntary act and deed or that of the principals represented by
them.

I further acknowledge that this instrument, including the foregoing Agreement and this page on
which this Acknowledgement is written, consists of two (2) pages, all signed by the parties and sealed
with my notarial seal.

WITNESS MY HAND AND SEAL on the date and place above written.

NOTARY PUBLIC

Doc. No. _________


Page No. _________
Book No._________
Series of 2022

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