Real Estate Mortgage Sample
Sample Document for a Real Estate Mortgage in the Philippines...
REAL ESTATE MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:
This Real Estate Mortgage, Mortgage, made made by and between: between: JULIO VALIENTE, VALIENTE, of legal age, single, and a resident of 123 ORACION Village, Cebu City, Philippines (hereinafter known as the MORTGAGOR); - and -
MARCIAL ZIGOMAR, of legal age, single, and a resident of 321 CARBON Village, Cebu City, Philippines (hereinafter known as the MORTGAGEE);
WHEREAS, the MORTGAGOR is the absolute and registered owner of a parcel of land situated at Barangay of Calindagan, Dumaguete City, Province of Negros Oriental, Is. of Negros., covered by Transfer Certificate Certificate of Title No. 38400 of the Registry of Deeds for Dumaguete City; WHEREAS, the MORTGAGOR is indebted to the MORTGAGEE in the principal sum of Five hundred thousand pesos (Php 500,00.00), Philippine currency, under and by virtue of a Promissory Note (“Note”) attached herewith and made an integral part hereof as Annex “A”; WHEREAS, the MORTGAGOR has agreed to secure the payment of the Note to the MORTGAGEE by means of a good and valid mortgage upon the property herein described below; NOW, THEREFORE, for and consideration of the afore-mentioned indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR does hereby convey and DELIVER by way of MORTGAGE unto the MORTGAGEE, his heirs, successors and as signs, the following parcel of land, together with all the improvements found and standing thereon, more particularly described as follows:
TRANSFER CERTIFICATE OF TITLE No. 38401
“A PARCEL OF LAND Lot 69 Blk 69 of consolidation subdivision plan (LRC) Pcs-12345, being a portion of the consolidation of Lots 1234-A and 1234-B (LRC) Psd-78945 situated in the Barangay of Calindagan, Dumaguete City, Province of Negros Oriental, Is. of Negros. Bounded on the E., along Line 1-2 by Zigomar St., on the S., along line 2-3 by Lot no. 6541, Cid Estate, on the W., along line 3-4 by irrigation canal and Lot no. 7894 and on the N., along line 4-1 by Lot no. 4562 both of the Cid Estate beginning at a p oint marked “1” on plan, being N 21 deg. 58’E, 457,000 m. from no. 22 Cid Estate; thence S. 9 deg. 40’E, 23. 9 m. to the point 2; S. 78 deg 57’W., 26.1 m. to point 3; containing an area of (2,222) square meters.”
That it is the condition condition of this Mortgage that should the MORTGAGOR MORTGAGOR perform the obligation obligation to pay the afore-cited indebtedness of P2,000,000.00 P2,000,000.00 together with accrued interest thereon, within the agreed term, this Real Estate Mortgage shall be discharged and shall at once on ce become null and an d void and of no effect ef fect whatsoever, wh atsoever,
otherwise, it shall subsist and remain in full force and effect and be subject to foreclosure in the manner and form prescribed by law.
IN WITNESS WHEREOF, we have have hereunto set their hands, this 1 st day of March, 2017 at Cebu City, Philippines.
SIGNED IN THE PRESENCE OF: ________________________
Republic of the Philippines) City of Cebu ) S.S. BEFORE ME personally appeared: Name
Julio Valiente Marcial Zigomar
SSS I.D. No. 123 SSS I.D. No. 222
all known to me to be the same persons who executed the foregoing instrument and hereby acknowledged to me that the same is their free and voluntary act and deed. This instrument consisting of two (2) pages, including this page on which this acknowledgment is written refers to a REAL ESTATE MORTGAGE and has been signed by the parties and their witnesses and sealed with my notarial seal. WITNESS MY HAND AND NOTARIAL SEAL, on this 1st day of March 2017, Cebu City. CEDRIC MICHAEL CID Notary Public For and within the territorial jurisdiction of RTC Cebu City, San Fernando and Carcar Notarial Commission No.293 Valid Until Dec 31, 2017 Doc. No. 1
IBP no. 998563 Lifetime, Cebu City
Page No. 4
Attorney’s Roll no. 58988
Book No. 2
PTR no. 8123688, Jan 3, 2017, Cebu City
Series of 2017
Bldg. 69, 193 Pelaez St., San Antonio, Cebu City