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KNOW ALL MEN BY THESE PRESENTS:

THIS AMENDMENT TO THE REAL ESTATE MORTGAGE AGREEMENT


(“Amended REM”) is entered into this _______________________, at Baguio City by and
between:

____________________ , of legal age, ……………………………………………………


hereinafter referred to as MORTGAGOR;

- And -

___________________ represented by her attorney-in-fact _________________


(SPA is attached as Annex “A”), of legal age, …………………………………….. hereinafter
referred to as MORTGAGEE;

WITNESSETH:

WHEREAS, the MORTGAGOR obtained a LOAN from MORTGAGEE in the amount


of FIVE HUNDRED THOUSAND PESOS payable after six (6) months from date of LOAN
with interest of FIVE (5) percent.

WHEREAS, the said loan was secured by a Real Estate Mortgage (REM) dated
__________ executed on the land covered by Transfer Certificate of Title (TCT)
No._________ and the same REM was duly registered. Copies of the Real Estate
Mortgage, and Transfer Certificate of Title are attached as Annex “B” and “C” respectively;

WHEREAS, MORTGAGOR has incurred default in the payment of the agreed


monthly installments and failed to settle the entire obligation at the agreed term even
after demand. A copy of the demand letter is attached as Annex “D”;

NOW THEREFORE, the parties hereby agree as follows:

1. The total/aggregate loan of the MORTGAGOR now amounts to SIX HUNDRED


FIFTY THOUSAND PESOS (Php 650,000) with FIVE (5) percent INTEREST payable
within a period of THREE (3) months starting from the December 25, 2019;

2. The aggregate loan shall be secured by the property identified in the above-
mention Real Estate Mortgage dated ______________ previously executed by the
same parties which shall stand as collateral for the aggregate loan.
3. It is further agreed that all the other terms, conditions, and warranties contained
in the Real Estate Mortgage dated ___________ shall form part of this agreement.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered as of the date as above stated.

____________________
ABEGAIL
Mortgagor

_________________
EFREN

FOR and IN BEHALF OF:

AMELYN WATKINS
Mortgagee

SIGNED IN THE PRESENCE OF:

________________________ ________________________

ACKNOWLEDGEMENT