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7/25/2019 REM _ Sample
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REAL ESTATE MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:
I,_______________ married to ___________, Filipino, of legal age,
and a resident of ________________________, herein referred to as
MORTGAGOR/S;
The spouses____________________ and _______________________, of
legal ages, Filipinos, married to each other and with residence and post
office address at No. _________________________________, herein referred toas MORTGAGEE;
WITNESSED, THAT:
WHEREAS, theMORTGAGOR/Sis the registered owner of a
parcel of land situated in the ________________________________, embraced
and covered by Transfer Certificate of Title No. _____________________, andmore particularly described as follows to wit:
TRANSFER CERTIFICATE OF
TITLE No. ___________________
A parcel of land (Lot 223-B, Psd-112402-033018, being a portion of
Lot 223, Psd-64862, situated in the _____________________. Bounded on the
NE., along line 5-6 by Lot 224, Psd-64862; on the SE., along line 6-1 by Lot
223-A; along line 1-2 by 223-C, along line 2-3 by Lot 223-D, all of the
subdivision plan; on the NW., along line 4-5 by lot 222; Psd-64862.
Beginning at a point marked 1 on plan being S. 70 deg. 56E., 2, 085.63
m. from MBM No. 8, Cad-102. Thence.
N. 85 deg. 37 W., 23.12 m. to point 2;
S. 79 deg. 57 W., 4.81 m. to point 3;
N. 13 deg. 50W., 35.28 m. to point 4;
N. 89 deg. 22W., 59.82 m. to point 5;
S. 61 deg. 05 E., 17.71 m. to point 6;S. 55 deg. 05 W., 47.67 m. to point of beginning and
containing an area of ONE THOUSAND NINE HUNDRED TWO (1,902)
SQUARE METERS, more or less/. Points referred to are indicated on the
plan and are marked on the grounds as follows: All points by P.S. Cyl.
Conc. Mons. 15 x 40 cms. Bearings true. Date of original Survey, February
1916- May 1920 and that of the subdivision survey. August 22, 1992,
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executed by Geodetic Engineer Mario N. Alaba, and approved on
September 17, 1992. ;
WHEREAS, theMORTGAGOR/Sexpresses their intent toLEND,BORROWandMORTGAGEan amount of money and offers their parcel of
land as a collateral thereof and that theMORTGAGEEaccepts their
offer;
WHEREAS, for and in consideration of a loan in the sum ofTWO
HUNDRED THOUSAND PESOS (Php 200,000.00)Philippine currency,
to me in hand paid by the MORTGAGEE SPOUSES ___________________
and ___________________, do herebyCONVEY,by way of Mortgage, unto
the said SPOUSES ___________________, their heirs and assigns, theRIGHTSover the above mentioned parcel of land, together with all the
buildings and improvement thereon, if any, and bind themselves with
the terms and conditions thereof in the following manner, to wit:
1.That we,_________________shall pay or caused to be paid to
said SPOUSES ________________, their heirs or assigns, the said
sum ofTWO HUNDRED THOUSAND PESOS (Php
200,000.00), with in the period of TWO (2) years commencing
from the time of the signing, execution and notarial public of
this Real Estate Mortgage;
2.The said principal amount ofTWO HUNDRED THOUSAND
PESOS(Php 200,000.00)shall accrue an interest ofTWO
PERCENT (2%)or(Php 4,000.00 per month),payable at the
time said obligation is due or demandable the month after the
execution of this Real Estate Mortgage, whichever the parties
may agree and conform thereto;
3.TheMORTGAGOR/Sshall surrender by way of deposit, the
Original Copy or Owners Duplicate Copy of the said parcel of
land to theMORTGAGEEand that registration of title shall be
claimed only after the payment and satisfaction in FULL of the
said loan;
4.That failure on the part of theMORTGAGOR/Sto pay the
whole principal obligation and the corresponding interests on
the agreed period of time shall mean that the Real EstateMortgage shall be enforceable in the manner as provided for
under the law;
5.That, in connection of said failure of payment, the
MORTGAGOR/Shereby agree that theMORTGAGEEor their
heirs and assigns, may enforce their rights herein without
judicial proceedings by causing the above described property to
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be sold at public auction in the City of Davao where the said
property is situated, after giving notice of sale for 20 days
posted in at least three public places of the said City, said sale
to take place on a business day between 9:00 A.M. and 4:00
P.M. at the City Hall of said City, under the direction of the
notary public of said City, Justice or Auxillary Justice of the
Peace of the City, or provincial sheriff. In accordance with Act
No. 3135, as amended by Act No. 4118.
IN WITNESS WHEREOF, I have hereto set my hand this ________
day of ____________, 2015 in Davao City Philippines.
\
____________________ ________________________ MORTGAGOR/S MORTGAGEE
Competent Proof of Identity: Competent Proof of Identity:
______________________________ ______________________________
______________________________ ______________________________
Signed in the presence of:
___________________________ __________________________
A C K N O W L E D G M E N T
REPUBLIC OF THE PHILIPPINES
________________________________) S.S.
BEFORE ME, this ____ day of _____________, 2015 in the_______________________, personally appeared the above named persons
exhibiting their competent proofs of identity as shown above, known to
me to be the same person who executed the foregoing instrument, and he
acknowledged to me that the same is free act and deed.
This instrument consisting of two (2) pages, including the page on
which this acknowledgement is written, has been signed on the left
margin of each and every page thereof by the parties and their witnesses,
and sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand, the day,
year, and place above written.
Doc. No. _____;
Page No._____;
Book No._____;
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Series of 2015.