DEED OF SALE OF MOTORCYCLE VEHICLE

WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF SALE OF MOTORCYCLE VEHICLE WITH ASSUMPTION OF

MORTGAGE is made and executed this _____th day of _______________, 2022 by and
between:

_______________________________________________, of legal age,

married to __________________________________________, Filipino, and with
residence and postal address at
______________________________________________________________ hereinafter
referred to as the "SELLER/VENDOR";
-AND-
__________________________________________, of legal age, Filipino and
with residence and postal address at
__________________________________________________________, hereinafter
referred to as the "BUYER/VENDEE".
WITNESSETH:
WHEREAS, the SELLER/VENDOR is the registered owner of a motor vehicle
which is more particularly described as follows:
MAKE : HONDA
SERIES : _______________________________
YEAR MODEL : ___________
COLOR : _______________________________
BODY : MOTORCYCLE
ENGINE NO : _______________________________
CHASSIS NO : _______________________________
PLATE NO : __________________
ODO METER : _____________ km
MV FILE NUMBER : _________-______________

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER

/VENDOR has agreed to sell the above mentioned motor vehicle under the terms and
conditions herein below set forth;
WHEREAS, the SELLER/VENDOR hereby warrant that said motor vehicle is
still mortgaged with
_______________________________________________________________________,
with remaining balance of
________________________________________________________________________ 
(PHP _____________________), with monthly amortization amounting to
__________________________________________________________________________________
(Php _________________) payment due every _____ of the month starting
__________________ up to _______________________________ and that will defend
the title and rights of the VENDEE from any claims of whatever kind or nature from third
persons.

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 NOW THEREFORE, for and in consideration of the sum of
___________________________________________________ (Php: ______________)
Philippine Currency as ASSUMPTION FEE, the SELLER/VENDOR hereby SELLS,
TRANSFERS AND CONVEYS and by these presents have SOLD, TRANSFERRED
AND CONVEYED unto said BUYER/VENDEE who likewise agree to buy the aforesaid
property the of the covenants hereinafter set forth, as follows:
1. The total consideration shall be
_______________________________________________________________ 
(PHP _______________) Philippine Currency, payable as follows:
a) The amount of
_________________________________________________________ 
(PHP ________________), shall be paid in _____________________
(____) monthly installment in equal amount of
___________________________________________________ (Php _________)
PESOS with REBATE amounting to Php _____ pesos if paid on time
starting on _______________________________and to be paid in full
on or before ________________________________.
b) Monthly instalment payment shall be paid thru
_________________________________________________________
payment center partners like
_________________________________________________________
until fully paid on ______________________________.
c) In the event that the BUYER/VENDEE fails to pay TWO (2) months
instalment, the SELLER/VENDOR has the right to immediately take
possession of the motor vehicle and rescind this contract without
reimbursement to the BUYER.VENDEE any amount paid relative to
this contract after oral or written demand for payment shall be
exhausted first by SELLER/VENDOR.
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
Motorcycle Dealer Company, insurance fees and other expenses for the
maintenance of the motor vehicle shall be borne by the BUYER/VENDEE;
3. Possession to the subject property shall be delivered by the
SELLER/VENDOR to the BUYER/VENDEE on or before
___________________________;
4. Upon full payment of the total price, the SELLER/VENDOR shall sign and
execute a DEED OF ABSOLUTE SALE in favor of the BUYER/VENDEE.
The SELLER/VENDOR 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 BUYER/VENDEE. Expenses paid for the transfer of ownership of the
subject motor vehicle shall be borne by the BUYER/VENDEE.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this
_____ day of February, 2021 at Quezon City, Philippines.

_______________________________ __________________________
SELLER/VENDOR BUYER/VENDEE

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________

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 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CEBU CITY ) SS.

BEFORE ME, a Notary Public, this _____ day of _________________, ______

personally appeared the following:
Name ID Number Date/Place Issued
___________________ _______________
___________________ ______________________

This instrument, consisting of three (3) pages, including the page on which this
acknowledgment is written, has been signed on the left or right margin of each and every
page thereof by the concerned parties and their witnesses, and sealed with my notarial
seal.
IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place
above written.

Notary Public
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 2017.