REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:
This REAL ESTATE MORTGAGE is made and executed by and between:
THE MORTGAGOR: SIMON B. ITBAYAT, of legal age, Filipino, single,
and a resident of Brgy. Matina Crossing,Davao City, Philippines;
- and THE MORTGAGEE: DAVAO BASIC CREDIT COMPANY (DBCC), with
office address at Block 189, Stall 154, Central Market, Davao City, Philippines,
herein represented by its President, RAMON C. BAUTISTA, by virtue of a
Secretary’s Certificate;
WITNESSETH:
That the MORTGAGOR does hereby convey by way of REAL ESTATE
MORTGAGE unto the MORTGAGEE, the following described real property,
situated at Buhangin, Davao City, Philippines, together with all the
improvements, to wit:
ORIGINAL CERTIFICATE OF TITLE NO. P-22031
Lot No.
Location

Area

:
Lot No. 31, Csd-11-009576-D
: Buhangin, Davao City, Philippines, Beginning at a
point marked “1” of Lot No. 31, Csd-11-009576-D,
being S. 89-53 E., 3755.98 m. from MBM #18, Cad.
276, Davao City Cadastre
: FORTY NINE THOUSAND EIGHT HUNDRED
EIGHTY SEVEN (49,887) square meters, more or
less.

of which real property the MORTGAGOR is the registered owner in accordance
with the provisions of the Land Registration Act, her title thereto being evidenced
by ORIGINAL CERTIFICATE OF TITLE NO. P-22031 of the Registry of Deeds
for the Province of Davao del Norte.
That this real estate mortgage is given as security for the payment to the
MORTGAGEE of an obligation to the MORTGAGOR in the principal amount of

FIVE HUNDRED THOUSAND PESOS (P500,000.00) with a monthly interest of
two (2%) percent pursuant to a promissory note.
That the conditions of this REAL ESTATE MORTGAGE are such that if the
MORTGAGOR shall well and truly pay or cause to be paid unto the
MORTGAGEE the aforesaid amount, then this mortgage shall be of no further
force and effect, OTHERWISE, the same shall remain in full force and effect and
shall be enforceable in the manner provided by law.
IN WITNESS WHEREOF, we have hereunto affixed our signatures this 1st
day of January 2015 at Davao City, Philippines.

DBCC herein represented by:

SIMON B. ITBAYAT
Mortgagor

RAMON C. BAUTISTA
President- DBCC
Mortgagee

Signed in the presence of:

______________

_________________

Republic of the Philippines…….. }
IN THE CITY OF DAVAO…………………….. }S.s.
x--------------------------------------------------/
ACKNOWLEDGMENT

BEFORE ME, this 1st day of January 2015 at Davao City,Philippines,
personally appeared:
Name
SIMON B. ITBAYAT
RAMON C. BAUTISTA

Competent Evidence of Identity
Senior Citizen Id No. 1709582
SSS ID No. 09-1458959-4

known to me to be the same persons who executed the foregoing instrument
and they acknowledged to me to be their free and voluntary act and deed.
This instrument consisting of two (2) pages including the page on which
acknowledgment is written has been signed on the left of each and every page
thereof by the parties and their witnesses.
WITNESS MY HAND AND NOTARIAL SEAL.

ATTY. HAZEL YVETTE M. SARNO
SARNO LAW
McArthur Highway, Brgy. Matina,
Davao City, Philippines
Roll No. 11111
PTR No. 098765 August 18, 2018, Davao City
IBP No. 536425 Lifetime

Doc. No. ______;
Page No. ______;
Book No. _____;
Series of 2015.