Deed of Real Estate Mortgage

DEED OF REAL ESTATE MORTGAGE KNOW ALL MEN BY THESE PRESENTS: This Deed of Real Estate Mortgage, made and executed by and between: MA. ANTONETTE M. MABBUN, of legal age, single, and a resident of Unit 626, #98 Cityland 8, Buendia Avenue, Makati City, Philippines, hereinafter known as the MORTGAGOR; - and NADINE E. CHAN, of legal age, single, and a resident of Unit 25G, 5 th Avenue Place, 5th Avenue, Fort Bonifacio Global City, Philippines, hereinafter known as the MORTGAGEE; WITNESSETH That: That for and in consideration of the loan of THREE HUNDRED THOUSAND PESOS (Php300,000.00), Philippine Currency, extended by the MORTGAGEE to the MORTGAGOR, payable to the order of the MOTRGAGEE without need of prior demand or notice within a period of two (2) years, at TWELVE THOUSAND FIVE HUNDRED (Php12,500.00) per month starting on April 25, 2011 and on every 25th of the month, thereafter until fully paid, with interest thereon at the rate of twelve percent (12%) per annum, and to secure payment thereof, the MORTGAGOR hereby transfers, conveys by way of MORTGAGE unto and in favor of the MORTGAGEE, her heirs, successors and assigns, a parcel of land, together with all the improvements found and standing thereon, covered by TCT No. T-9817, and which parcel of land is more particularly described as follows: TECHNICAL DESCRIPTION TCT No. T-9817 CITY OF TAGAYTAY A parcel of land (Lot 10-B, of the subdivision plan (LRC) Psd-229279, being a portion of Lot 10, Psu-82838, Amd. 4., LRC Record No. 49057), situated in the Barrio of Birinayan, Municipality of Talisay, Province of Batangas, Island of Luzon. Bounded on the NE., points 14 to 1; and 1 to 4 by property of Angel T. Limjoco; on the SE., points 4 to 5 by Lot 10-D; on the SW., and SE., points 5 to 7 by Lot 10-A, both of the subdivision plan; on the SW., points 7 to 9 by property of Agapito Rodriguez; and on the NW., points 9 to 12 by Lot 11, points 12 to 13 by Lot 9, and points 13 to 14 by Lot 7, . . . containing an area of NINE HUNDRED THIRTY SEVEN THOUSAND EIGHT HUNDRED FOURTEEN (937,814) SQUARE METERS, more or less... of which MORTGAGOR is the absolute owner. It is the essence of this contract of mortgage that if the MORTGAGOR fails to pay his principal obligations on due date and the matter is referred to counsel for enforcement in court, the MORTGAGOR agrees to pay

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attorney’s fees of Php300,000.00 and expenses of litigation of Php50,000.00 or a total of Php350,000.00, and to have said parcel of land be subject to foreclosure in the manner and form accordance with law, to answer for such obligations; but if the MORTGAGOR pays the aforecited indebtedness, together with the interests thereon, within the agreed term, this mortgage shall be discharged and shall at once become null and void and of no effect whatsoever. IN WITNESS WHEREOF, the parties have hereunto set their hands, this 27th day of February 2011 at Makati City, Philippines.

_______________________________ MORTGAGOR

_______________________________ MORTGAGEE

IN THE PRESENCE OF: _______________________________

_______________________________

ACKNOWLEDGEMENT REPUBLIC OF THE PHILIPPINES) _____________________________ ) SS. BEFORE ME, a Notary Public for and in the City of Makati, Metro Manila, this 27th day of February, 2011, personally appeared the following parties, with their respective Community Tax Certificate (CTC)/ Tax Identification Numbers (TIN) indicated as follows:

CTC Number/ TIN

D a t e / P l a c e I s s u e

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d

MA. ANTONETTE M. MABBUN

0006362 0/ TIN 244-875894

1 2 9 1 1 / M a k a ti

NADINE E. CHAN

0007866 7/TIN 245-856876

2 /0 2 1 1 / M a k a ti

Known to me and to me known to be the same persons who executed the foregoing Deed of Real Estate Mortgage and acknowledged to me that the same is their free and voluntary act and deed.

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

NOTARY PUBLIC

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KENT LILEO C. TONG NOTARY PUBLIC FOR MAKATI CITY UNTIL DECEBER 31, 2011 6th FLOOR CITIBANK CENTER 6741 PASEO CENTER MAKATI CITY ROLL NO. 56881/01-09-09 PTR NO. 1677015/02/06/10 1BP NO. 07834LT/0114/RIZAL CHAPTER

Doc. No._____; Page No._____; Book No._____; Series of 2010