DEED OF SALE WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED, made and executed in ________________, Philippines, by and

between:

SPS. JAIME S. SICAT and GINA P. SICAT, both of legal age, Filipino Citizens and
with residence and postal address at No. 07 Las Vegas Street, Villa Purisima, Sindalan,
City of San Fernando, Pampanga, hereinafter called the  VENDORS.
 
– and –
ARTURO L. NAGUIT, of legal age, single, Filipino Citizen, and with residence
and postal address at 322 San Nicolas, Minalin, Pampanga, hereinafter called
the  VENDEE.

WITNESSETH: THAT-

WHEREAS, the VENDORS are the owner of certain parcel of land with all the
improvements existing thereon, situated at Brgy. of Maimpis, Municipality of San
Fernando, Province of Pampanga, specifically described as follows:

TRANSFER CERTIFICATE OF TITLE No. 567671

“A parcel of land (lot 2, blk. 14 of the cons.-subd. Plan, Pcs-03-

003179, being a portion of cons. Lots 1-17, blk. 1, lots 1-16, blk. 2, lots
1-24, blk. 3, lots 1-26, bl. 4, lots 1-28, blk. 5, lots 1-22, bl. 10, lots 1-15,
blk. 11, lots 1-16, bl. 12, lots 1-28, blk. 13, lots 1-15, blk. 14, lots 1-52, blk.
15, 1-25, blk. 16, lots 1-16, blk. 17, lots 1-22, blk. 18, lots 1-22, blk.19, lots
1-16, blk. 20, lots 1-7, blk. 21, (LRC) Pcs-12600 & Rd. lot 1-20, all of
(LRC) Pcs-12600, LRC Rec. No. ), situated in the Bo. of Maimpis,
Mun. of San Fdo., Prov. of Pamp. xxx xxx xxx containing an area of
TTWO HUNDRED FORTY (240) SQUARE METERS.”

WHEREAS, the above-described properties are presently mortgaged to HOME

DEVELOPMENT MUTUAL FUND to secure the payment of loan: in the principal sum of
Php1,449,700.00 contracted by the VENDORS from the aforenamed mortgagee
under the terms and conditions set forth in two instruments of mortgage, with (Loan
No. _______________) executed on __________________ and ratified before
__________________________, Notary Public in and for ____________, as per Doc.
No. ___________, Page No. _________, Book No. _________, Series of
_______________ of his notarial register.

WHEREAS, the VENDORS have offered to sell and the VENDEE has agreed to
buy the above-described parcels of land with all the improvements thereon for the
total price of Php1,500,000.00 payable in the manner and form set forth
hereinbelow:

NOW, THEREFORE, for and in consideration of the sum of Php1,500,000.00,

Philippine currency, the said VENDORS does hereby sell, transfer and convey, in a
manner absolute and irrevocable, unto the VENDEE, his heirs and assigns the real
property above described together with all the improvements existing thereon, free
and clear of all liens and encumbrances excepting the mortgagee as may be
subsisting in favor of HOME DEVELOPMENT MUTUAL FUND; and

The VENDEE does hereby accept this sale and binds herself to assume as she
hereby assumes the payment of the unpaid balance of the mortgage in indebtedness
of the VENDORS amounting to Php________________________ for the loan and as
of this date in favor of the aforenamed mortgagee and does hereby further agree to
be bound by the precise terms and conditions therein contained.

The VENDORS shall secure the approval of the Mortgagee to the assumption
by the VENDEE of the mortgages over the subject parcel of land.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands at
the place first above written, on this __________________ at
____________________________.

JAIME S. SICAT GINA P. SICAT

Vendee Vendee
TIN: _________________ TIN: __________________

ARTURO L. NAGUIT
Vendor
 SIGNED IN THE PRESENCE OF:

_____________________ _____________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

) SS.
 
BEFORE ME, a Notary Public in and for Makati City, Philippines, this
___________________ personally appeared:

Name: Competent ID. No. Date / Place Issued

JAIME S. SICAT
GINA P. SICAT
ARTURO L. NAGUIT

 
known to me to be the same persons who executed the foregoing instrument and
they acknowledged to me that the same is their free and voluntary act and deed.

IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my notarial

seal on the date and at the place first above written.

Doc. No. _______;

Page No. _______;
Book No. _______;
Series of ________.