REAL ESTATE MORTGAGE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Real Estate Mortgage Agreement executed by and between:

____________________, Filipino, of legal age, and a resident at

______________________, hereafter called the Debtor/Mortgagor;

– and –

_____________________________, Filipino, of legal ageand a resident of

_________________________________, hereafter
called the Creditor/Mortgagee;

W I T N E S S E T H : That –

1. The Property. – The Property subject of this contract is a parcel of land, more particularly
described as follows:

Transfer Certificate Of Title No. _____________________

Registry Of Deeds For City of Manila

(TECHNICAL DESCRIPTION)

together with all the improvements thereon, herein collectively referred to as

the Property.

2. The Loan. – Debtor/Mortgagor has obtained a loan from the Mortgagee in the sum of Ten
Million Pesos (₱10,000,000.00) subject to the terms and conditions hereunder prescribed,
to wit:
2.1. The loan shall be payable in full on or before ______________________.
2.2. The loan shall bear monthly interest at the rate of four percent (4%) per month,
payable every end day of the month corresponding to the month for which interest is
due with advance interest.
2.3. All checks shall be payable to _____________________ including interest and
fees applicable if any;

3. The Mortgage. – For and in consideration of the loan stated in paragraph 2 hereof and by
way of a security therefor, the Debtor/Mortgagor hereby constitutes a real estate
mortgage on the Property in favor of Creditor/Mortgagee, her heirs, successors or assigns,
under the following terms and conditions:

3.1. The mortgage shall secure the payment of the loan, together with the unpaid
interest, if any.
3.2. In case the maturity of the loan is extended, upon mutual agreement in writing
of the Parties, this mortgage shall be a continuing security for the obligation/s of
the Debtor/Mortgagor to the Creditor/Mortgagee without the necessity of executing
a new contract of real estate mortgage.
3.3. If the Debtor/Mortgagor shall pay and/or comply with his all and every
obligation under this Deed, then this mortgage shall be fully discharged and cease to
have any force and effect, otherwise, it shall remain in full force and effect and shall
be enforceable in the manner provided by law.
3.4 If the Debtor/Mortgagor shall fail and/or refuse, for any reason whatsoever, to
fully pay and/or comply with all or any of his said obligations, then

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 the Creditor/Mortgagee may judicially or extrajudicially, at his option, foreclose the
mortgage on the property in accordance with law. The Creditor/Mortgagee is hereby
appointed attorney-in-fact of the Debtor/Mortgagor, with full power and authority to
take actual possession of the mortgaged property at once, and to forthwith foreclose
this mortgage judicially, or to sell the above-described properties extra-judicially in
accordance with law, and take such other actions as she may be deem necessary to
recover the amount due; and in the event of such judicial or extra-judicial foreclosure
or other legal action, the Creditor/Mortgagee shall be entitled to compensation for
expenses, attorney’s fees and costs of collection, which is stipulated to be twenty-five
percent (25%) of the indebtedness then unpaid but not less than P50,000.00

4. Expenses. – Expenses for notarial fees shall be for the account of the Debtor/Mortgagor.
All other expenses for the registration with the appropriate office / the Register of Deeds
shall be for the account of the Creditor/Mortgagee.

5. The parties agree that all court actions concerning this Agreement shall be brought before
the proper courts of City of Manila or Quezon City to the exclusion of any other venue.

6. If anyone or more of the provisions of this Agreement is declared invalid or unenforceable,

in any respect under any applicable law, the validity, legality or enforceability of the
remaining provisions contained herein shall not in any way be affected or impaired.

IN WITNESS whereof, the Parties affixed their signatures this ______ day of ________________
2019 in ___________ City.

Mortgagor Mortgagee

Signed in the presence of:

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