Form No.

14 --
SALE WITH MORTGAGE (TO SECURE PAYMENT OF BALANCE)

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT made and executed this ........................................................ .

………….day of .................19……….. .., at ............................... by and
between: ................................................... of legal age, single/married to............ Filipino,
with residence and post- office address at
……………………………………....................... hereinafter known as the VENDOR,
and .....................................................:....., of legal age, single/married
to................................................................. Filipino, with residence and post-office
address at ..................................................... hereinafter known as the VENDEE,
witnesseth:

1.  That  the  VENDOR  is  the  registered  owner  in  fee simple of a parcel of land,
known as Lot No. …………….......... of the Cadastral Survey of ............................... and
covered by OCT/TCT No. ............................... of the Registry of Deeds 
of .................................. and more particularly described as follows

(Copy technical description as appearing on Certificate of Title).

2. That FOR AND IN CONSIDERATION OF the sum of ...........................................

(P........................), Philippine Currency, the first payment in the amount
of .............................................. (P.......................), of which is hereby acknowledged to
have been received by the VENDOR to his full satisfaction from the VENDEE, the
VENDOR hereby SELLS, TRANSFERS, AND CONVEYS unto the VENDEE, his heirs
and assigns, the above-described realty, together with all  the improvements existing
thereon, free from all liens and encumbrances, except as hereinafter stated;

3. That the parties hereby agree that the remaining balance of the consideration, in the
amount of ……………............ shall be paid in equal installments, as follow

(State date and place of payment) ;

4. That to insure the payment of the remaining balance on the dates above-stated, and
until the same shall have been fully satisfied, the VENDEE hereby constitutes a
Mortgage on the above realty in favor of the VENDOR, subject to the condition that
should the VENDOR cause to be paid or delivered unto the VENDEE the remaining
balance in the amount of ................................................ then the Mortgage shall be
considered as discharged and of no more force nor effect; otherwise, the same shall
continue in  full force and effect, and shall be enforceable in the manner and form
provided by law.

IN WITNESS WHEREOF, the parties have hereunto set their hands, this .....................
day of................... 19…………....., at ...........................................
......................................................             ……………………………...............
VENDOR                   VENDEE

SIGNED IN THE PRESENCE OF:

...............................................................    ………………………………………

..
(ACKNOWLEDGMENT  Form No. 1)