REAL ESTATE MORTGAGE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Real Estate Mortgage Agreement executed by and between:
PAULINE KATE J. VILLAR, Filipino, of legal age, single, and with address at 2
Petunia St., Doňa Manuela Subdivision, Las Piňas City, hereafter called
the Debtor/Mortgagor;
– and –
ARJAN JIWATRAMANI CHANDUMAL, Filipino, of legal age, married to RAMA
ARJAN JIWATRAMANI, Indian national, of legal age, and both are resident of
PH2B-1 Block 1, L15 Pigeon St., Gatchalian Subdivision, Las Piňas City, hereafter
called the Creditor/Mortgagee;

W I T N E S S E T H : That –

1. The Property. – The property subject of this contract is a Three Hundred

(300) square meter parcel of land covered by Transfer Certificate Of Title
No. 010-2017000327 Registry Of Deeds For Paraňaque City, together with
all the improvements thereon, if any, herein collectively referred to as
the Property.
A certified true copy of the TCT is hereto attached as Annex A for reference
purposes.
2. The Loan. – Debtor/Mortgagor PAULINE KATE J. VILLAR has obtained a loan
four (4) – month loan from the Mortgagee in the sum of ONE MILLION SIX
HUNDRED THOUSAND PESOS (Php. 1,600,000.00) subject to the terms and
conditions hereunder prescribed, to wit:
2.1. The loan shall be payable on or before April 18, 2019.
2.2. It shall bear interest at the rate of five percent (5 %) per month payable
automatically without need of any form of demand every 18th day of the month
corresponding to the month for which the interest is due. A delay in payment of
interest or bounced check shall entitled the Creditor/Mortgagee to a penalty of
one percent (1%) of the Php. 1,600,000.00 principal amount per month until full
payment of the interest due.

REAL ESTATE MORTGAGE AGREEMENT PAGE 1 OF 4

 However, for the initial month of the loan, the Creditor/Mortgagee shall
deduct ten percent (10%) outright with five percent (5%) as advance interest
payment for December 18, 2018- January 17, 2019 while another five percent
(5%) shall serve as the broker's fee. The Creditor/Mortgagee shall also deduct Ten
Thousand Pesos (Php. 10,000.00) as lawyer's fee. Other expenses for
documentation and registration of this contract, with Official Receipt, shall be
paid by the Debtor/Mortgagor upon demand.
2.3. The Debtor/Mortgagor agreed that the Creditor/Mortgagee has the right of
first refusal and the right to purchase the subject property when the loan remains
unpaid on April 18, 2019 or when the Debtor/Mortgagor decides to sell the
property prior to the end of the contract period at the rate based on the zonal
value of the property as of December 2018 with each party bearing their own tax
liabilities under the law. The Debtor/Mortgagor shall pay the capital gains tax
while the Creditor/Mortgagee shall shoulder the documentary stamp tax, transfer
taxes, and other registration expenses.
2.4. Failure and/or refusal or the Debtor/Mortgagor to pay four (4) consecutive
monthly interests shall automatically make the principal loan of ONE MILLION SIX
HUNDRED THOUSAND PESOS (Php. 1,600,000.00) due and demandable, without
any need of demand, together with the unpaid interest and penalty, if any.
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 subject property with Transfer
Certificate Of Title No. 010-2017000327 Registry Of Deeds For Paraňaque
City in favor of Creditor/Mortgagee, under the following terms and
conditions:
3.1. The mortgage shall secure the payment of the loan due, together with the
unpaid interest and penalty, 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 pre- pay and/or comply with 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 extra-judicially, at his option, foreclose
the mortgage on the property in accordance with law.
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.

REAL ESTATE MORTGAGE AGREEMENT PAGE 2 OF 4

 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 Debtor/Mortgagor .
5. The parties agree that all court actions concerning this Agreement shall be
brought before the proper courts of Makati City to the exclusion of any
other venue.
6. If any one or more of the provisions 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, the Parties affixed their signatures this ______th day of
________________ 2018 in ___________ City.

Signed:

_____________________ _____________________
PAULINE KATE J. VILLAR ARJAN JIWATRAMANI CHANDUMAL
(Mortgagor) (Mortgagee)

_____________________
RAMA ARJAN JIWATRAMANI
(Spousal Consent of Mortgagee)

Signed in the presence of:

_____________________ _____________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
) S.S.
x––––––––––––––––––––––x
BEFORE ME personally appeared:

REAL ESTATE MORTGAGE AGREEMENT PAGE 3 OF 4

 PERSONS ID
1.
2.
3.
4.
5.
presenting their competent evidence of identity, known to me and to me known
to be the same persons who executed the foregoing Real Estate Mortgage
Agreement, together with the instrumental witnesses, and they acknowledged to
me that the same is their knowing, free and voluntary act and deed.
This document relates to the mortgage of a parcel of land registered under
Transfer Certificate Of Title No. 010-2017000327 Registry Of Deeds For
Paraňaque City and consists of ____ (___) pages, including this page, each of
which had been signed by the Parties and their instrumental witnesses.
WITNESS my signature and notarial seal this ___ day of _________ 2018.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2018.

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