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SECOND REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This MORTGAGE made and executed by

Jonathan Filipino, of legal age, married, and a resident of Brgy. ____,

Marilao, Bulacan herein called the MORTGAGOR;

-and-

Judith, Filipino, of legal age, single/married, and a resident of Brgy.

____, Marilao, Bulacan herein called the MORTGAGEE;

W I T N E S S E T H:

1. The Property. – The Property subject of this contract is a parcel of

land, more particularly described as follows:

Transfer Certificate Of Title No. __________

Registry Of Deeds For _________ City

[COPY TECHNICAL DESCRIPTION FROM THE TITLE]

together with all the improvements thereon, herein collectively referred

to as the Property.

2. The Loan. – Debtor/Mortgagor has obtained a loan from

the Mortgagee in the sum of _____________ Pesos (P__________) subject
to the terms and conditions hereunder prescribed, to wit:

2.1.   The loan shall be payable on or before __ December ______.

2.2.  It shall bear interest at the rate of twelve percent (12%)

per annum payable every 15th day of the month corresponding
to the month for which interest is due.

2.3.  The amounts due by way of interest payments shall be

covered by [number] (__) postdated checks of P__________ each
and the principal loan of P_____________ shall also be covered by
a postdated check dated __ December 2020.

2.4.  Failure and/or refusal or the Debtor/Mortgagor to pay

two (2) consecutive monthly interests (or when the checks are
dishonored) shall automatically make the principal loan of
P________________ due and demandable, together with the unpaid
interest, if any.

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3. The Mortgage. – For and in consideration of the loan stated in

paragraph 2 hereof and by way of a security therefor,
the Debtor/Mortgagor hereby constitutes a real estate
mortgage on the Property in favor of Creditor/Mortgagee, under
the following terms and conditions:

3.1.  The mortgage shall secure the payment of the loan,

together with the unpaid interest, if any.

3.2.  In case the maturity of the loan is extended, upon mutual

agreement in writing of the Parties, this mortgage shall be a
continuing security for the obligation/s of
the Debtor/Mortgagor to the Creditor/Mortgagee without the
necessity of executing a new contract of real estate mortgage.

3.3.  If the Debtor/Mortgagor shall well pay and/or comply

with his all and every obligation under this Deed, then this
mortgage shall cease to have any force and effect. However, if
the Debtor/Mortgagor shall fail and/or refuse, for any reason
whatsoever, to fully pay and/or comply with all or any of his
said obligations, then the Creditor/Mortgagee may judicially or
extrajudicially, at his option, foreclose the mortgage on the
property in accordance with Republic Act No. 3185 and other
existing laws.

3.4.  In case collection of any amount due under this mortgage

agreement is referred to a lawyer by the Creditor/Mortgagor,
the Debtor/Mortgagor is under obligation to pay the former
twenty percent (20%) of the amount due.

4. Expenses. – Expenses for notarial fees shall be for the account of

the Debtor/Mortgagor. All other expenses for the registration with
the appropriate office / the Register of Deeds shall be for the
account of the Creditor/Mortgagee.

5. Subordination. This Mortgage shall be subordinate only to a First

Mortgage (the “First Mortgage”) executed and delivered on this
date by Borrower to [INSERT NAME OF OTHER CREDITOR.], (“the
First Mortgage Lender”), encumbering the Mortgaged Property
and securing that certain First Promissory Note (the “First Note”)
of even date herewith by Borrower in favor of First Mortgage
Lender.

Copy of the First Mortgage and First Note is hereto attached as

ANNEX “A” and “B”;

6. Subject to the First Mortgage, the MORTGAGOR hereby transfer and

convey by way of mortgage unto the MORTGAGEE, their heirs,
successors, executors, administrators or assigns the following
parcel of land covered by and described in Transfer Certificate of

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Title No. 1234 issued by the Office of the Registry of Deeds of

____________________ which title is attached hereto as ANNEX “C”.

7. That if the obligations herein became unsecured, or any of the

amortization of such indebtedness should be unpaid when due or
upon non-compliance with any of the conditions and stipulations
herein agreed, or if the MORTGAGOR or the person availing of the
credit accommodations herein secured shall, during the time the
mortgage is in force, instituted solvency proceedings or be
involuntarily declared insolvent, or if the proceeds of this
loan/credit line should be used or applied for purposes other than
those specified herein, or if this mortgage cannot be recorded in
the corresponding Registry of Deeds, then all the obligations
secured by this mortgage and all the amortization thereof shall
immediately become due, payable and defaulted and the
MORTGAGEE may immediately foreclose this extrajudicially in
accordance with Act No. 3135, as amended, and for the purpose,
the Mortgagor hereby names, constitutes and appoints the
Mortgagee as it’s Attorney-in-Fact, to enable it to extrajudicially
foreclose the herein Mortgage and as well as to sign all documents
and perform any act requisite and necessary to accomplish said
purpose and to appoint its substitutes as such attorney-in-fact
with the same powers as above-specified.

8. In case of judicial foreclosure the MORTGAGOR hereby consents to

the appointment of the MORTGAGEE and/or its duly authorized
representative or of any of its designates as receiver, without any
bond, to take charge of the mortgage property at once, and to hold
possession of the same and the rents, benefits and profits derived
from the mortgaged property before the same, less the costs and
expenses of the receivership; the MORTGAGOR hereby agrees
further that, in all cases, attorney’s fees is hereby fixed at
25% of the total indebtedness then unpaid, which in no case
shall not be less than Php 5,000.00 exclusive of all cost and fees
allowed by law, and the expenses of collection shall be the
obligation of the MORTGAGOR and shall with priority, be
paid to the MORTGAGEE out of any sums realized from the sale
of said property and this mortgage shall likewise stand as
security therefor. It is hereby agreed that the period or
periods granted for the payment of the amortization
and/or obligations secured by this mortgage is for the
mutual benefit of both MORTGAGOR and the MORTGAGEE.

9. The MORTGAGEE may be a bidder at the sale of the

properties hereby mortgage to it, whether under foreclosure
proceedings, or under the powers of sale herein provided, or
otherwise. The remedy of the MORTGAGEE under the powers of
sale hereby conferred upon it shall be, and is in addition to and
cumulative with such right of action as the MORTGAGEE may
have in accordance with the present or any future laws of the
Philippines.
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10. It is hereby agreed that in the case of foreclosure of this

mortgage under Act No. 3135, the auction sale shall be held at the
capital province; and in case of judicial execution of this
obligation or any part of it, the debtor waive all their rights under
the provisions of Rule 39 Section 12 of the Rules of Court, Art. 232
of Republic Act No. 386, known as the Civil Code of the
Philippines, and the proper venue of the foreclosure suit thereto
corresponding, where the mortgage may institute the
foreclosure suit is the Regional Trial Court of Malolos City or
elsewhere at the election of said MORTGAGEE;

11. It is of the essence of this contract that if the MORTGAGOR fails

to pay the principal obligation then this mortgage shall be
foreclosed and the above- mentioned property/ies shall be sold in
accordance with law; but, if the MORTGAGOR pay said obligation
together with the interests, then this mortgage shall become null
and void and of no effect.

12. The parties likewise agree that all court actions concerning this
Agreement shall be brought before the proper courts of Bulacan to
the exclusion of any other venue.

13. If any of the provision of this Agreement is declared invalid or

unenforceable, in any respect under any applicable law, the
validity, legality or enforceability of the remaining provisions
contained herein shall not in any way be affected or impaired.

In Witness Whereof, we have hereunto set our hands this

_________________ at ___________, Philippines.

Jonathan Judith
Mortgagor Mortgagee

With my marital
consent:

Signed In The Presence Of: &

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REPUBLIC OF THE PHILIPPINES )
Province of Bulacan )s.s
______________________________ ).

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public for ______________________ this ___day

of _______________________ personally appeared:

ID Number
Jonathan
Judith

All known to me and to me known to be the same persons who executed

the foregoing real estate mortgage and who acknowledged the same to
be their free voluntary act and deed, and that of the entities
represented.

This document refers to a loan agreement which consists of five

(5) pages including this page on which this Acknowledgement is
written, and duly signed by the parties together with their instrumental
witnesses on each and every page hereof.

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

Doc. No.
Page No. ;
Book No. ;
Series of 2020