You are on page 1of 2

Promissory Note With Mortgage KNOW ALL MEN BY THESE PRESENTS: FOR VALUE RECEIVED, I/WE jointly and

severally promise to pay ______________ (Lender-Mortgagee), of legal age, Filipino, married and with postal address at _______________, the principal amount of _______________ Philippine Currency subject to the following terms: The amount of PhP5,000.00 as interest thereon payable every end of the month beginning October 31,2007 until August 31, 2008; The amount of PhP50,000.00 on or before September 30, 2008 or within one (1) year from date hereof. The loan is subject to renewal or extension for another period at the option of the Lender and the Borrower.

Date: ___________, Muntinlupa City, Philippines

________________ Borrower/Mortgagor With my marital consent: _____________________ That I, _______________, (Borrower-Mortgagor), of legal age, Filipino, married to ______________ and with residence and postal address at ______________ is the true and absolute owner of that property located at _____________, as evidenced by Declaration of Real Property under Tax Dec. No. _____ and particularly described as a residential house of strong materials under a G.I. roofing with a floor area of ____ square meters more or less, and the lot upon which it is erected. That for and in consideration of the loan obtained by the BorrowerMortgagor from the Lender-Mortgagee in the amount of _______________, and as security for the payment of aforesaid loan, hereby TRANSFER, ASSIGN and CONVEY by way of first mortgage in favor of _______________ (LenderMortgagee), her heirs, successors-in-interest and assigns, all my title, rights, interests, participation and claims of ownership and possession over the aforedescribed property together with all the improvements thereon if any. That I warrant the validity and legitimacy of my rights, claims, title, ownership and possession over the above-described real property, and that it is free of any lien and/or encumbrances. That this mortgage shall continue to be valid and binding as against the Mortgagor over the mortgaged property, for the abovementioned principal loan and interest thereon if any, including renewals, extension, increases and all and any other loan obligation owed by the herein Mortgagor to the Mortgagee,

IN WITNESS WHEREOF, I have hereunto signed this presents this ___day of __________, 2007 at ___________, Philippines.

_________________ Mortgagor With my marital consent: ___________________ SIGNED IN THE PRESENCE OF: __________________________ ____________________

ACKNOWLEDGEMENT REPUBLIC OF THE PHILIPPINES) Makati City )S.S. BEFORE ME, personally appeared ______________ exhibiting their Community Tax Certificate No. ______ issued on ______ at _______, known to me to be the same person who executed the foregoing instrument and who acknowledged to me that the same is his own free and voluntary act and deed. WITNESS MY HAND AND OFFICIAL SEAL, this 19th day of September , 2007 at the place first above written.


Doc. No. ______ Page No. ______ Book No. ______ Series of 2007