DEED OF REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This contract of REAL ESTATE MORTGAGE made and executed by

JOHN Y. DEPP, Filipino, single, with residence and postal address at Tigkan,
Naujan, Oriental Mindoro, hereinafter called and referred to as MORTGAGOR,
in favor COVID U. CORONA, Filipino, of legal age, single and with residence
and postal address at Bulusan, Calapan City, Oriental Mindoro, hereinafter called
and referred to as MORTGAGEE.

WITNESSETH:

THAT the mortgagor is the true, lawful and registered owner of a parcel of
land together with all the improvements therein, covered by and registered under
Transfer Certificate Title No. T-2639 of the Register of Deeds of Calapan,
Oriental Mindoro, and which property is particularly described as follows:

Transfer Certificate of Title No. T-2639

Registry of Deeds for the Province of Oriental Mindoro

“A parcel of land (Lot 3948-A-2 of the subdivision plan (LRC) Psd-

75376, being a portion of Lot 3948-A, described on plan, Psd 63162,
LRC (GLRO) Rec. No. H. Pat. ), situated in the Bo. of Tigkan, Mun.
of Naujan, Prov. Of Or. Mindoro, Island of Mindoro.-x-x-x-x-x-x--,
containing an area of FORTY THOUSAND (40,000) SQUARE
METERS.”

THAT this real estate mortgage is given as security for the payment of the
mortgagee of a certain promissory note dated April 20, 2020 for the sum of FIVE
HUNDRED THOUSAND PESOS (P500,000.00), with no interest thereon account
of the close family relationship between the parties, provided that the said amount
is paid on or before April 20, 2021, according to the terms thereof and in the
words and figures as follows:

“FOR VALUE RECEIVED, I, JOHN Y. DEPP, of legal age, Filipino, and

residing at Tigkan, Naujan, Oriental Mindoro, do hereby promise to pay COVID
U. CORONA or order the sum of FIVE HUNDRED THOUSAND PESOS
(P500,000.00) on or before April 20, 2021, with no interest, without the need of
express demand, with the understanding that to enforce the payment of this
promissory note in case of failure to pay on agreed due date, we execute likewise
a Deed of Real Estate Mortgage on our real estate property, with all
improvements therein, in favor of said COVID U. CORONA.”

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 sum with accrued interest, 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, and in order to enforce the
payment of the said obligation, the mortgagee is herein granted power and
authority to foreclose the above-described property extrajudicially, and for this
purpose, the herein mortgagee is hereby given the power and authority to be as she
is hereby appointed as ATTORNEY-IN-FACT of the mortgagor to enforce the
said extrajudicial foreclosure. In such case, the mortgagor shall be charged 25% of
the unpaid principal and interest as attorney’s fee, plus cost of foreclosure, in
addition to the principal loan and all unpaid interest and penalties.

THAT for and in consideration of the loan of FIVE HUNDRED

THOUSAND PESOS (P500,000.00), Philippines Currency, which the Mortgagor
has obtained from the mortgagor hereby transfers and conveys by way of
mortgage unto the mortgagee, her heirs, successors, administrators and assignors,
a parcel of land together with all the improvements therein found, situated in
Tigkan, Naujan, Oriental Mindoro, as above described.

IN WITNESS WHEREOF, the parties have hereunto set their hands this
March 21, 2020 in the Municipality of Calapan, Oriental Mindoro, Philippines.

JOHN Y. DEPP CORONA U. COVID

MORTGAGOR MORTGAGEE

Signed in the presence of:

______________________ ______________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CALAPAN CITY ) S.S.

BEFORE ME, a Notary Public for and in the City of Calapan, personally
appeared:
 
Name                           ID Number               Date/Place Issued   
 
COVID U. CORONA           PRC ID: 0106477      Jan. 15, 2019 / Quezon
City
JOHN Y. DEPP                 PRC ID: 0106479      Jan. 18, 2018 / Quezon
City
 
Known to me and to me known to be the same persons who executed the
foregoing instrument and acknowledged to me that the same are their free act and
voluntary deed.
 
This instrument, consisting of 3 pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every
page thereof by the concerned parties and their witnesses, and sealed with my
notarial seal.

 
ATTY. SAV U. GUTIERREZ
NOTARY PUBLIC
Until December 31, 2021
Roll No. 77790
IBP No. 093459 10-18-19
PTR No. 0556040 01-13-20

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