COURT OF APPEALS
336 SCRA 324
FACTS: EVERTEX secured a loan from PBC, guaranteed by a real estate
and chattel mortgage over a parcel of land where the factory stands,
and the chattels located therein, as included in a schedule attached
to the mortgage contract. Another loan was obtained secured by
a chattel mortgage over properties with similar descriptions listed in
the first schedule. During the date of execution of the second
mortgage, EVERTEX purchased machineries and equipment.
The RTC held that the lease and sale were irregular as it involved
properties not included in the schedule of the mortgage contract.
HELD: