SALE WITH ASSUMPTION OF MORTGAGE

This Sale is made and executed this ___ day of _________ in the City of __________ by
and between:
_________________, Filipino, of legal age, married/ single and residing at
______________, hereinafter referred to as the VENDOR;and
__________, Filipino, of legal age, married/ single and residing at __________,
hereinafter referred to as the VENDEE;

That the Vendor is the owner of a parcel of land situated in ___________ Philippines,
and more particularly described as follows:

(Description of Property)

That for and in consideration of the sum of ____________ Pesos, receipt of which in full
is hereby acknowledged by the Vendor, said Vendor hereby sells, transfers and conveys unto the
Vendee, his heirs, legal representatives, or assigns, the above-mentioned property together with
all the improvements found therein.

That said property is mortgaged by the Vendor in favor of _______ as evidenced by a

Deed of Mortgage executed on ___________ by and between said Vendor and said __________
and acknowledged before Notary Public _________, of _________ on ___________ and entered
in his notarial register as Doc No. _________; Page No. ______; Book No._______; Series of
_____; copy of which is mortgage deed is herewith attached and marked as Annex “A” and made
an integral part hereof.

That, as part of the consideration of this sale, the Vendee agrees to assume as he hereby
assumes, all the duties and obligations of the Vendor imposed upon the latter in the
aforementioned Deed of Mortgage, as if the present Vendee were the mortgagor in said
Mortgage Deed.

IN WITNESS WHEREOF, etc.

With My Consent:
_______________
Mortgagee-Creditor

Witnesses:

_______________________ ________________________

(ACKNOWLEDGMENT)