REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This REAL ESTATE MORTGAGE (REM for brevity) made and
entered into this __ day of ____________ at _____________ by and
between:
A, Filipino, of legal age, married, and a resident of Brgy. San Antonio
Kalayaan, Laguna, Philippines (hereinafter referred to as the MORTGAGOR);
- and B, Filipino, of legal age, single, and a resident of Brgy. San Antonio
Kalayaan, Laguna, Philippines (hereinafter referred as the MORTGAGEE);
WITNESSETH; That:
WHEREAS, the MORTGAGOR is indebted unto the MORTGAGEE in the
amount of TWO HUNDRED FIFTY THOUSAND PESOS (Php 250,000.00),
receipt of which is acknowledged by the MORTGAGOR upon the signing of
this REM, payable to the MORTGAGEE without need of prior demand or
notice within a period of thirty (30) days from December 31, 2036 or 30
years after the execution of this REM;
WHEREAS, in the event of non-payment or failure to pay in full the
amount agreed upon by parties, the MORTGAGOR agrees and binds himself
to pay the prevailing rate of legal interest, reckoned from the date of last
agreed payment and until the amount is fully paid.
WHEREAS, in the event that the MORTGAGOR decides to preterminate this REM, the MORTGAGOR binds himself to be liable to the
MORTGAGEE and agrees to pay the latter the amount of TWO HUNDRED
FIFTY THOUSAND PESOS (Php 250,000.00) plus the fair market value of
the improvements made and introduced thereon by the MORTGAGEE;
WHEREAS, the MORTGAGOR admits, acknowledges, and recognizes
that he has full power and authority to sign and enter into this REM on
behalf of his other co-owners, thereby expressing their conformity and
consent with this REM;
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 assigns, a portion of land with an
area of FIVE THOUSAND THREE HUNDRED TWENTY square meters (5,320
sq. m.) which is part and parcel of Lot No. 2593-pt., which has a total area
of 15,960 sq.m., covered under TCT No. ____________, situated at
________________________, together with all the improvements found
and standing thereon, more particularly described in TCT NO. __________,
as follows:

North: Lot No. 2593-pt

East: Lot No. 2592

South: Lot No. 2993-pt

West: Lot No. 2594

That this REM is subject to the condition that should the MORTGAGOR
perform the obligation to pay the afore-cited indebtedness of TWO
HUNDRED FIFTY THOUSAND PESOS (Php 250,000.00) together with
accrued interest thereon, if any, within the agreed term, this REM shall
automatically be terminated, becomes null and void, and of no effect
whatsoever. Otherwise, it shall subsist and remain in full force and effect,
subject to foreclosure in the manner and form prescribed by law.
The MORTGAGOR and the MORTGAGEE hereby declare that they
understand thoroughly the above provisions and agree to sign to abide by
such provisions. They shall each retain a copy of this contract for future
reference.
IN WITNESS WHEREOF, parties hereunder have signed this
agreement as of the day and year first written above, and the person
executing this agreement on behalf of each party represents and warrants
that this agreement has been authorized by all necessary parties, hence, is
valid, binding, and enforceable against each and every party hereunder.
B
Mortgagee

A
Mortgagor (Co-owner)

___________________
Co-owner

_________________
Co-owner

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
_____________________________

S.S.

BEFORE ME, a Notary Public for the ______________ this day of

__________2016 personally appeared:
Name

ID Number

Issued at

Issued on

who are known to me to be the same persons who executed

the foregoing instrument and acknowledged to me that the
same is their own free voluntary act and deed. The instrument
consists of THREE (3) pages including the page on which this
acknowledgement is written, and each page of which is duly

signed by the parties.

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

NOTARY PUBLIC
Doc. No. ___
Page No. ___
Book No.____
Series of 2016