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Deed of Mortgage
Deed of Mortgage
-and-
Judith, Filipino, of legal age, single/married, and a resident of Blk 9, Lot 15,
Phase II, Kalapati St. DDF Subd, Mandug, Davao City herein called the
MORTGAGEE;
W I T N E S S E T H:
1. That as security for the payment of the loan in the principal sum of
Five Hundred Thousand Pesos (Php 500,000.00), and such other loans or
advances already obtained, or still to be obtained by the MORTGAGOR(s) as
MAKER(s), CO-MAKER(s), or GUARANTOR(s) from the MORTGAGEE plus
interest at the rate of 4 % per month, payable on the dates mentioned in the
corresponding loan agreement, the MORTGAGOR(s) by way of first mortgage,
mortgages the parcel(s) of land described hereunder, together with the
improvements now existing, or which may hereafter be made thereon, of which
MORTGAGOR(s) represents and warrants that MORTGAGOR(s) is/are absolute
owner(s) and that the said parcel of land is/are free from all liens and
encumbrances. The MORTGAGOR hereby transfer and convey by way of
mortgage unto the MORTGAGEE, their heirs, successors, executors,
administrators or assigns the following parcel of land covered by and described
in Transfer Certificate of Title No. 1234 issued by the Office of the Registry
of Deeds of Kidapawan, North Cotabato which title is attached hereto as Annex 1.
further that, in all cases, attorney’s fees is hereby fixed at 25% of the total
indebtedness then unpaid, which in no case shall not be less than Php 5,000.00
exclusive of all cost and fees allowed by law, and the expenses of collection shall
be the obligation of the MORTGAGOR and shall with priority, be paid to the
MORTGAGEE out of any sums realized from the sale of said property and this
mortgage shall likewise stand as security therefor. It is hereby agreed that the
period or periods granted for the payment of the amortization and/or
obligations secured by this mortgage is for the mutual benefit of both
MORTGAGOR and the MORTGAGEE. The MORTGAGEE may be a bidder at
the sale of the properties hereby mortgage to it, whether under foreclosure
proceedings, or under the powers of sale herein provided, or otherwise. The
remedy of the MORTGAGEE under the powers of sale hereby conferred upon it
shall be, and is in addition to and cummulative with such right of action as the
MORTGAGEE may have in accordance with the present or any future laws of the
Philippines. It is hereby agreed that in the case of foreclosure of this mortgage
under Act No. 3135, the auction sale shall be held at the capital province; and in
case of judicial execution of this obligation or any part of it, the debtor waive all
their rights under the provisions of Rule 39 Section 12 of the Rules of Court, Art.
232 of Republic Act No. 386, known as the Civil Code of the Philippines, and the
proper venue of the foreclosure suit thereto corresponding, where the mortgage
may institute the foreclosure suit is the Court of First Instance now Regional
Trial Court of Davao city or elsewhere at the election of said MORTGAGEE;
In Witness Whereof, we have hereunto set our hands this December 18,
2015 at Davao City, Philippines.
Jonathan Judith
Mortgagor Mortgagee
_______________________
Husband of Mortgagor
ACKNOWLEDGEMENT
BEFORE ME, a Notary for and in the RTC of Cebu City this ______
personally appeared:
ID Number
1.Name
2, Name
All known to me and to me known to be the same persons who executed the
foregoing real estate mortgage and who acknowledged the same to be their free
voluntary act and deed, and that of the entities represented.
WITNESS MY HAND AND SEAL on the date and place first above written.
Doc. No. __
Page No. __;
Book No. __;
Series of 2022.