DEED OF ASSIGNMENT AND TRANSFER OF RIGHTS

 
 
KNOW ALL MEN BY THIS PRESENTS:
 
        This deed, made and entered into this ___ day of February, 2020 at the City of
Santa Rosa, Laguna by and between:
 
ZORAHAYDA DIZON VALENTIN, of legal age, married and with
residence address at B405 L3 55 Street, Brgy. Balibago, Santa Rosa
City, Laguna hereinafter referred to as the "ASSIGNOR"
 
-and-
 
ANNABELLE ROSIMO VILLAREAL, of legal age, and with residence at
B1 L2 Buena Rosa 4, Brgy. Labas, Santa Rosa City, Laguna, hereinafter
referred to as the "ASSIGNEE".
 
WITNESSETH that -
 
        WHEREAS the ASSIGNOR is the registered owner of a motor vehicle which is
more particularly described as follows:

MAKE: TOYOTA
SERIES: FORTUNER 4X2 V A/T
MODEL: 2018 TOYOTA FORTUNER 4X2
MOTOR NO: 2GDC225220
CHASSIS NO: MHFGB8GS1H850458
COLOR: PEARL WHITE
PLATE NO: DAF4983

         WHEREAS, the ASSIGNOR has offered to assign all his rights, title and
interest over the above unit, as referred in said Contract to Sell and the ASSIGNEE
hereby accepts the assignment in accordance with the terms herein set forth;

WHEREAS, the ASSIGNOR hereby warrant that said motor vehicle is still
mortgaged with Eastwest Bank in the amount of One Million One Hundred Thirty
Nine Thousand Seven Hundred Pesos (Php 1,139,700.00).

NOW THEREFORE, for and in consideration of the sum of THREE

HUNDRED TWENTY THOUSAND (Php 320,000) Philippine Currency as
ASSUMPTION FEE, the ASSIGNOR hereby SELLS, TRANSFERS AND CONVEYS
and by these presents have SOLD, TRANSFERRED AND CONVEYED unto said
ASSIGNNEE who likewise agree to buy the aforesaid property the of the covenants
hereinafter set forth:
 1. The total consideration shall be THREE HUNDRED TWENTY THOUSAND
(Php 320,000) Philippine Currency, payable as follows:
a. The amount of THREE HUNDRED TWENTY THOUSAND (Php
320,000)  shall be paid in TWO (2) instalments in equal amount of
ONE HUNDRED SIXTY THOUSAND PESOS (Php 160,000) upon
signature of this contract and on February 28, 2020 the remaining
ONE HUNDRED SIXTY THOUSAND PESOS (Php 160,000) shall be
paid in full;
b. The Assignor shall turnover the motor vehicle upon payment of the
stipulated amount above;
c. The Assignor guarantees the Assignee that the motor vehicle is on
good running condition and free from hidden defects upon assumption
of the unit;
d. The Assignee assumes the liability of payment for the monthly
amortization of the said motor vehicle amounting to THIRTY SEVEN
THOUSAND NINE HUNDRED NINETY (Php 37,990).
2. During the tenure of the foregoing instrument and before the full payment
of the total price, the registration of the motor vehicle unless still covered
by the Car Dealer Company, insurance fees and other expenses for the
maintenance of the motor vehicle shall be borne by the ASSIGNEE;

3. Upon full payment of the total price, the ASSIGNOR shall sign and execute
a DEED OF ABSOLUTE SALE in favor of the ASSIGNEE. The
ASSIGNOR shall likewise execute and/or deliver any and all documents,
including but not limited to the original copy of Certificate of Registration,
and all other documents necessary for the transfer of ownership to the
ASSIGNEE. Expenses paid for the transfer of ownership of the subject
motor vehicle shall be borne by the ASSIGNEE.
 
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this
___th day of February, 2020 at Santa Rosa City, Laguna, Philippines.

 
ZORAHAYDA DIZON VALENTIN                    ANNABELLE ROSIMO
VILLAREAL
ASSIGNOR                                       ASSIGNEE   
 
Signed in the presence of:
 
 
       __________________________      ___________________________
 
 ACKNOWLEDGEMENT
 
Republic of the Philippines )
CITY OF SANTA ROSA ) S.S
 
BEFORE ME, a notary for and in the City of Santa Rosa, personally appeared:
 
          Name                  CTC Number                Date/Place Issued    
 
 
known to me and to me known to be the same persons who executed the foregoing
Deed of Assignment and transfer of Rights and acknowledged to me that the same is
their free and voluntary act and deed.
 
WITNESS MY HAND AND SEAL, on the date and place first above written.
 
 
Notary Public
Doc.  No.______;
Page No. ______;
Book No.______;
Series of 2020.