MORTGAGE CONTRACT

KNOW ALL MEN BYTHESE PRESENT:

This MORTGAGE made and executed by:

JOSEPH DUMULONG, Filipino, of legal age, residing at 16 Property St., GSIS Village,

Brgy. Sangandaan, Project 8, Quezon City herein called the MORTGAGOR

And

JOHN KYLE ESTARO, Filipino, of legal age, residing at 51 Branches St., GSIS Village,
Brgy. Sangandaan, Project 8, Quezon City herein called the MORTGAGEE

WITNESSETH:

That the Mortgagor borrows from the Mortgagee the amount of TWENTY
THOUSAND PESOS (Php20,000) which was accepted and handed over by the
mortgagee today (September 22, 2021) as evidenced by his signature hereof. Such
debt shall be repaid after ONE (1) Week (September 29, 2021).

As security for such indebtedness, the mortgagor mortgages the vehicle

described below:

Brand: Toyota
Model: Vios 1.3 E Gas
Plate Number: XCZ2854
Color: Gray

The said vehicle is the real property of the mortgagor and has no other debt,
legal case or, mortgage liability.

As interest on said indebtedness, the mortgagor authorizes the mortgagee to (1)

use the vehicle, (2) impose 20% interest in the first week and 10% interest in each
week that passes. The interest shall be paid every week.
 In case of non-compliance with the payment of interest, the Mortgagor will be
required to repay all of the outstanding debt.

In case of non-compliance with the payment of the debt within ONE (1) Week,
the Mortgagor will be required to pay additional THREE THOUSAND PESOS
(Php3,000)

The mortgagor has agreed that if such events happen, such as typhoons,
earthquakes, and other natural disasters, the mortgagee WILL NOT BE LIABLE for any
loss or damage brought by any of the said events.

In the event that the mortgagor pays the said debt within the stipulated time, this
deed will become invalid and void. but if it is unable to pay, this document shall take
effect and be enforced in the manner prescribed by law.

As to amendment, the mortgagor may request a legal document that changes the
terms of this contract (in accordance with the agreement of the mortgagee and
mortgagor) by modifying the terms and conditions in case the said terms in this contract
cannot be complied with by the mortgagor.

This agreement was signed and dated on the 22nd day of September, 2021

Signed and dated by both parties; each party receives a signed original

MORTGAGOR MORTGAGEE

SIGNED IN THE PRESENCE OF:

Signature over Printed Name Signature over Printed Name