REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

I, CHRISTINE ARGUELLES, of legal age, married to Reynaldo Arguelles, and

a resident of Senator Ninoy Aquino, Sultan Kudarat, Philippines, FOR and in
consideration of the sum of TWO HUNDRED FORTY THOUSAND PESOS ONLY ( P
240,000.000) Philippine Currency, received from ROSANA LANUZA, also of legal age,
Filipino, single and a resident of Davao City, do hereby mortgage unto said ROSANA
LANUZA, that certain parcel of land situated in Barangay Malegdeg, Municipality of
Sen. Ninoy Aquino, Province of Sultan Kudarat, Island of Mindanao and more
particularly described as follows:

ORIGINAL CERTIFICATE OF TITLE NO.A-01600

“ A parcel of land ( lot 588,Pls-604-D of Sultan Kudarat Resettlement

Project No.2). Bounded on the E; points 1-2 by lot 589, on the S; points 2-3 by Road, on
the W., points 3-4 by lot 587, and on the N; points 4-1 by lot 599, all of the subdivision
plan; Beginning at appoint marked “1” on plan being N 04 deg. 54’ E; 7881.00 m. from
No.1, Pls-604-D to corner 1;Containing an area of ONE HUNDRED THOUSAND
(100,000) SQUARE METERS’

That the above described portion of land are owned under the name of
ALFREDO LACASANDILE, ET AL., and I am one of those co-owners who owns a
portion of that land in an area of TWO (2 ) HECTARES.

CERTIFICATE OF REGISTRATION CR NO. 71134367

MAKE TYPE OF BODY MOTOR NO. CHASSIS NO.

Fuso Dump truck 6d15-348542 FK416h-52052

That this motor vehicle is registered under the name of MOUNTAIN LIGHT
ACADEMY INC.

PROVIDED, nevertheless, that if I shall pay or cause to be paid to said ROSANA

LANUZA, the aforementioned amount of TWO HUNDRED FORTY THOUSAND
PESOS ONLY (P 240,000.00) together with the interest thereon, then this mortgage shall
thereby be discharged, otherwise, it shall remain in full force and enforceable in the
manner provided by law.
 IN WITNESS WHEREOF, I have hereunto set my hand this _____th day of
___________ 2004 at Davao City, Philippines.

CHRISTINE ARGUELLES
- Mortgagor –

WITH MY MARITAL CONSENT:

REYNALDO ARGUELLES
- husband -
SIGNED IN THE PRESENCE OF:

___________________________________& __________________________________

A C K N O WL E D G M E N T

REPUBLIC OF THE PHILIPPINES)

CITY OF DAVAO - - - - - - - - - - - -)S.S.
X - - - - - - - - - - - - - - - - - - - --- - - - X

BEFORE ME, on this ______th day of ____________at Davao City, Philippines,

personally appeared CHRISTINE ARGUELLES, with her CTC No. _____________,
issued on ____________at ________________known to me to be known to me the same
person who executed the foregoing instrument and she acknowledged to me her free act
and voluntarily deed.

WITNESS MY HAND AND NOTARIAL SEAL on the date and place first
above written.

CHANYEOL PARK
Notary Public
Until December 31, 2005
PTR NO. 00000, 1-7-2004
IBP OR NO. 60000, 1-9-2004
ROLL NO. 00000
Doc. No.___________;
Page No. __________;
Book No. XX11 ;
Series of 2004 .