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REAL ESTATE MORTGAGE With Spa To Sell MP

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24 views3 pages

REAL ESTATE MORTGAGE With Spa To Sell MP

Uploaded by

Cali Bugan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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DEED OF REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Mortgage of Real Property, made and executed by and between:

______________________________________, of legal age, Filipino and with residence at


______________________________________, Philippines, hereinafter referred to as Mortgagor,

and

______________________________________, also of legal age, Filipino and with residence at

______________________________________, Philippines, hereafter referred to as Mortgagee.

WITNESSETH:

That for and in consideration of the loan of _____________________________________,


Philippine currency, extended by the Mortgagee to the Mortgagor, payable on or before
_______________________,20____, with _________% interest thereon per MONTH, and to secure
payment of thereof, the Mortgagor hereby transfers, conveys by way of mortgage unto and in favor of
the Mortgagee, his heirs, successors and assigns, a parcel of land, together with all improvements
therein situated, as well as any and all improvements that may hereinafter be built therin, covered by
TCT No. _____________________ of the Registry of Deeds for _________, and which parcel of land is
more particularly described as follows:

(Technical Description of the Property)

of which Mortgagor is the absolute owner.

It is the essence of this contract of mortgage that if the Mortgagor pays the obligations together
with the interests thereon, secured by this mortgage, when the same become due, the mortgage shall
become null and void and of no effect.

However, if the Mortgagor fails to pay his principal obligations on due date and the matter is
referred to counsel for enforcement, the Mortgagor agrees to pay attorney’s fees of P250,000.00 and
other expenses related thereto. In this connection, effective upon the breach of any condition or
stipulation of the mortgage or upon the cancellation of this mortgage for causes attributable to the
Mortgagor, the Mortgagee or his lawful representative or the sheriff is hereby appointed attorney-in-
fact of the Mortgagor with full powers and authority, take actual possession of the mortgaged
properties , without the necessity of any judicial order or any other permission or power, to remove,
sell, or dispose of the mortgaged properties or any improvements attached thereto, belonging to the
Mortgagor; to execute bills of sale or agreement that may be deemed convenient. The payment of any
expenses advanced by the Mortgagee in connection with the purposes herein indicated is hereby
secured by this mortgage. The Mortgagee is hereby authorized to apply the proceeds of the sale and
disposal of the properties mortgaged to pay taxes, assessments, and all incidental expenses and
obligations, including attorney’s fees in the amount stipulated, and to pay the original obligations and
interests thereon. The Mortgagor hereby ratifies all that the Mortgagee or his representative or the
sheriff may do and execute under this power of attorney. This power shall remain in full force and effect
during the lifetime of this mortgage.
Executed this ______ day of __________, 20___ at _________________, Philippines.

______________________________ _______________________________

Mortgagor Mortgagee

WITH MY MARITAL CONSENT

__________________________

Mortgagor’s Wife

SIGNED IN THE PRESENCE OF:

___________________________ ___________________________

REPUBLIC OF THE PHILIPPINES)


CITY OF SANTIAGO ) Sc.
x------------------------------------x

ACKNOWLEDGMENT

BEFORE ME, this ______ day of ________________, 2010 in the City of Santiago,
personally appeared:

Name Competent Evidence of Identity Place and Date of Issue

_______________________ __________________________ ___________________

_______________________ __________________________ ___________________

known to me to be the same persons who executed the foregoing instrument, and acknowledged
that the same are their free act and deed.

This Instrument, consisting of ______ (____) page/s, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page thereof
by _____________ and ________________ and their witnesses, and sealed with my notarial
seal.

IN WITNESS WHEREOF, I have hereunto set my hand on the date and place above
written.

Doc. No. ______;


Page No. ______;
Book No.______;
Series of 2010.

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