DEED OF EQUITABLE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This instrument made and executed at Tacloban City, Leyte,

Philippines this 21st day of April 2017 by MA. ALETH G. COBACHA,
of legal age, Filipino, and residing at Brgy. 8-A, Romualdez St.,
Tacloban City, herein after referred to as Mortgagor and NORHATA
B. DECA of legal age, married to CANDAO H. AMEN, Filipino and a
resident of T. Claudio St., Tacloban City, hereinafter referred to as
the MORTGAGEE;

WITNESSETH:

That herein mortgagor is the absolute owner and possessor of

two (2) storey house situated at Brgy. 8-A, Romualdez St., Tacloban
City constructed in Lot No. 1, as described under OCT P-553;

That herein mortgagor hereby transfers by way of Equitable

Mortgage of two (2) storey house to herein mortgagee for a total
mortgage amount of ONE HUNDRED THOUSAND PESOS
(P100,000.00) Philippine currency;

That herein mortgagor hereby reserves the right to payback the

sum of ONE HUNDRED THOUSAND PESOS (P100,000.00)
within TWO (2) years from the execution of these instrument, in
which case if payment is so made these contract shall be deemed
automatically cancelled and of no further force and effect; otherwise,
this mortgage shall just continue in its effectivity until such time said
sum above mention shall have been fully paid.

That effective May 16, 2017 the herein Mortgagee shall take
possession of the said property;

That the mortgagee shall use the property for residential

purpose only, however if the mortgagor use the same for illegal
purpose, the mortgagor shall be absolved of any responsibility and
obligation;

That herein mortgagee shall not and cannot introduce

permanent improvements, renovations or alterations without the
consent of the MORTGAGOR;

That all other non-permanent improvements introduced by

mortgagee upon expiration of the period shall be detached by the
mortgagee without destroying the original structure of the house or
be reimbursed by mortgagor at her option;
 -2-

That in case of fire, the mortgagee may opt to construct a

house or left the premises and in the latter option, the lot wherein
the house was constructed shall be automatically be the subject of
the mortgage. In case the mortgagee construct a house, expenses
thereof shall be reimbursed by the mortgagor;

That Mortgagee agreed to pay P200.00 monthly to the

Mortgagor for water consumption equivalent to four (4) persons only.
In excess of it a proportionate amount shall be charged;

That electric consumption shall be determined through a sub-

meter and for the exclusive account of the mortgagee;

IN WITNESS WHEREOF, said mortgagor has hereto signed

this document this ___________________ at Tacloban City, Leyte,
Philippines.

MA. ALETH G. COBACHA NORHATA B. DECA

Mortgagor Mortgagee

Signed in the presence of:

1. ____________________ 2. _______________________

Republic of the Philippines)

CITY OF TACLOBAN ) s.s.
x-------------------------------x

BEFORE ME this ________________ at Tacloban City

personally appeared the above-named parties with their
corresponding proof of identities

Ma. Aleth G. Cobacha VOTER’S ID NO. VIN:3747-0021A-

L0268MGC2000
Issued at: Tacloban City

Norhata B. Deca
_______________________________________

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

instrument and they acknowledged to me that the same are their
own act and voluntary deed.

WITNESS MY HAND AND SEAL on the date and place

above-written.
Doc. No. ____
Page No. ____
Book No. ____
Series of 2017