EXTRA JUDICIAL FORECLOSURE.docx

REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT 10th Judicial Region Office of the Clerk of Court & Ex- Officio Sheriff Malaybalay City

_________________________________ Petitioner- Mortgagee,

FILE NO.: Extra- Judicial Foreclosure of Real Estate Mortgage under Act No. 3135

-Versus_________________ Mortgagor/s ×--------------------------------------------------------/

PETITION FOR EXTRA-JUDICIAL FORECLOSURE OF REAL ESTATE MORTGAGE

THE SHERIFF Malaybalay City

Greetings:

We hereby deliver to you as Annex “A” the attached photocopy of the Real Estate Mortgage dated June 21, 2013 which was executed by ___________, Filipino citizen of legal age, widow and a resident of Impalambong, Malaybalay City, Bukidnon in favor of former Asian Hills Bank Inc. now ________________., a Corporation duly organize and existing under and by virtue of the Philippine laws with the principal and branch office at Malaybalay City, Bukidnon, as MORTAGEE, over parcels of land, together with all the improvements existing thereon, more particularly described as follows: TRANSFER CERTIFICATE OF TITLE NO. T-84630 Lot No. 2158, Pls-800 “A Parcel of land (Lot No. 2158, Pls-800, situated in the Barrio of Natid-asan, Municipality of Malaybalay, Province of Bukidnon, Island of Mindanao. Bounded on the N., along lines 1-2-, by Lots 2156 and Lots 2157; On the E., along line 304, by Lot 2159; on the S., along line 4-5, by Reforestation Administration; and on the W., along line 5-1, by Lot 2155, all of Pls-800, containing an area of THIRTY THREE THOUSAND TWO HUNDRED (33,200) SQUARE METERS, more or less, registered in the name of Mortgagor and declared for Taxation purposes under Tax Declaration No. E-038642 including its existing and future improvements found and maybe introduced thereon;

To secure the payment of the indebtedness and/or obligation/s of the MORTGAGOR/S. We hereby request you to foreclose the said Real Estate Mortgage [Annex “A”] hereof, and in support thereof, we state the following;

1. The terms and conditions of Real Estate Mortgage [Annex “A”] has never been changed or modified, whether tacitly or expressly, by any agreement made after the execution thereof;

2. The principal obligation secured by said mortgage which has become overdue as of December 24, 2013 has remained unpaid up to the present despite repeated demands in violation of the terms of the mortgage deed; 3. The Mortgagor has not executed a second or subsequent mortgage over the mortgaged property and the improvement thereon with the knowledge and consent of the Mortgagee; 4. To the best of our knowledge, the Mortgaged property is subject to no prior mortgage or any lien whatsoever, and is now in the possession and full control of the abovenamed Mortgagor; 5. Under the terms and conditions of the Real Estate Mortgage, the Mortgagee is entitled to extra judicially foreclose the mortgaged property. 6. By the terms and conditions of the Real Estate Mortgage referred to above, the principal obligation of the Mortgagor which has become overdue as of December 24, 2013 is in the amount of FIVE HUNDRED EIGHTY EIGHT THOUSAND SEVEN HUNDRED FIFITY PESOS ONLY (P 588,750.00), inclusive of past due interest, penalty charge and service charge but exclusive of Attorney’s Fee representing 10% of the total obligation due, other charges and expenses of foreclosure. Also enclosed and made integral parts of this petition are: a) b) c) d)

Promissory Note as Annex “B” Demand Letter dated February 13, 2014 as Annex “C” Statement of Account as Annex “D” Copy of Transfer Certificate of Titles No. T-84630 as Annex “E”

Wherefore, we hereby request that you sell at public auction the above-mentioned Real Property together with all the improvements thereon, describe in the Real Estate Mortgage [Annex “A”] in accordance with law, particularly the provision of Act No. 3135, as amended.

Please furnish us and the Mortgagor/s with copies of your Notice of Sale at least fifteen (15) days before the date of sale.

Very truly yours,

________________________ Manager Company

VERIFICATION/ CERTIFICATION

Republic of the Philippines City of Malaybalay

) ) S.S.

I, MA. CRISTINA B. BALINGIT, of legal age, under oath, depose and state that: 1.) I am the Branch Manager of D’ Asian Hills Bank, Inc.-Malaybalay Branch, Bukidnon, petitioner-mortgagee herein; 2.) I caused the preparation and filling of the foregoing petition, and read and understood the same; 3.) All the allegations therein contained are true and correct of my own knowledge and/ or based on authentic records of this petition. 4.) I hereby certify that I have not commenced any other action or proceeding involving the same issues in the Supreme Court, the Court of Appeals, or different Division thereof, or before any other tribunal or agency, and to the best of my knowledge, no such action or proceeding is pending in the Supreme Court, the Court Of Appeals or any Division thereof before any other tribunal or agency. 5.) If I should learn that a similar action or proceeding has been filed or is pending before the Supreme Court, the Court of Appeals or any other tribunal or agency, I undertake to report that fact within five (5) days therefrom to the Court or agency wherein the original pleading and sworn certification has been filed.

MA. CRISTINA B. BALINGIT

Affiant

SUBSCRIBE AND SWORN TO before me this day of __________ 2014 at Malaybalay City, Philippines, affiant exhibiting to me her competent evidence of identity with Valid I.D no. ___________ issued by D’ Asian Hills Bank, Inc.