DEED OF REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS

This Real Estate Mortgage is executed and entered by and

among:

AILEEN B. LAURON, of legal age, single, Filipino, and resident of

Brgy. Pagsulhugon, Babatngon, Leyte and hereinafter referred to as
the hereinafter referred to as the MORTGAGOR;

-and-

JAKE S. LUSABE, of legal age, single, Filipino, and a resident

of Brgy. Naga-asan, Babatngon, Leyte and hereinafter referred to as
the MORTGAGEE;

WHEREAS, the MORTGAGOR is the lawful owner of a parcel

of land situated at Brgy. Pagsulhugon, Babatngon, Leyte designated
as Cad. Lot No. 000594-556-9966, covered by Tax Declaration No.
1543241, which is more particularly described as follows:

“A parcel of Land, situated at Brgy. Pagsulhugon,

Babatngon, Leyte, containing an area of 5,000 sq.ms.
bounded on the North by Cad. Lot No. 4325; on the
South by Cad Lot No.9653; on the East by Cad. Lot No.
1254; on the West by Cad. Lot No. 7654; covered by
Tax Declaration No. 1543241, declared in the name of
Aileen B. Lauron.”

WHEREAS, the MORTGAGEE is interested in the mortgage of

5000 square meters, more or less, portion of the described parcel of
land.

WHEREAS, the MORTGAGOR agrees to convey unto the

MORTGAGEE the 5000 square meters portion of the described
parcel of land including all improvements thereon, hence the same
mutually agrees to enter into this Real Estate Mortgage under the
following terms and conditions:

NOW THEREFORE, for and in consideration of the following,

the parties hereto agree:

TERMS and CONDITIONS

That this Real Estate Mortgage is given as security for the

payment to the MORTGAGEE of certain amount loaned in the sum of
One Hundred Ninety Thousand (P 190, 000.00) PESOS;
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 That the period by which this Real Estate Mortgage shall be
effective is Five (5) years, reckoned from the execution of this contract.

That the mortgagee shall occupy the portion of the above-

described parcel of land, which is subject of this mortgage;

That the Mortgagor shall pay the amount loaned on or before

the stipulated expiration of this mortgage with 3% monthly interest;

That the mortgagee is the priority in the event that if mortgagor

decide to sell the mortgage property;

That if the mortgagor pays the total amount loaned with interest
the mortgagor shall redeem the mortgaged property. This
conveyance shall at once become null and void and of no effect
whatsoever. Otherwise, it shall have full force and effect;

It is hereby agreed by the parties that possession of the

property shall be surrendered to the MORTGAGEE who shall be
entitled to the occupation of the property;

That the conditions of this Real Estate Mortgage are such that if
the MORTGAGOR shall well and truly pay or cause to be paid after
the period stipulated unto the MORTGAGEE the aforesaid sum, then
this mortgage shall be of no further force and effect; OTHERWISE,
the same shall remain in full force and effect and shall be enforceable
in the manner provided by law.

IN WITNESS WHEREOF, the parties have hereunto affixed their

th
signatures this 19 day of August 2022 at Babatngon, Leyte,
Philippines.

AILEEN B. LAURON
Mortgagor
ID No: Driver’s License No. 00018755
Issued by and at: LTO Tacloban City, December 5, 2021

JAKE S. LUSABE
Mortgagee
ID No: PRC ID No. 00043456
Issued by and at: PRC Tacloban, January 1, 2022

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 SIGNED IN THE PRESENCE OF:

KATHERINE L. MARGA NICAH L. CORRE

Witness Witness

ACKNOWLEDGMENT

Republic of the Philippines )

Province of Leyte )S.S
Municipality of Babatngon )

BEFORE ME, personally appeared the herein parties, all

known to me and to me known to be the same persons who executed
the foregoing instrument, and who acknowledged to me that the
same is their free and voluntary act and deed. This instrument,
consisting of Three (3) pages, including the page on which this
acknowledgement is written, has been signed on the left margin of
each and every page thereof by the parties hereto and their
witnesses, and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto affixed my notarial

seal, on the day, year and place above written.

Doc. No.: _____;

Page No.: _____;
Book No.: _____;
Series of 2022

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 ACKNOWLEDGMENT RECEIPT

I, AILEEN B. LAURON, of legal age, single, Filipino, and

resident of Brgy. Pagsulhugon, Babatngon, Leyte as the hereinafter
referred to as the MORTGAGOR, acknowledge receipt of ONE
HUNDRED NINETY THOUSAND (P 190, 000.00) Philippine
Currency from JAKE S. LUSABE, of legal age, single, Filipino, and
a resident of Brgy. Naga-asan, Babatngon, Leyte and hereinafter
referred to as the MORTGAGEE, as payment for the mortgage of a
portion of parcel of land consisting of 5000 square meters, portion of
Cad. Lot No. 000594-556-9966 and located at Brgy. Pagsulhugon,
Babatngon, Leyte which is more particularly described as follows;

“A parcel of Land, situated at Brgy. Pagsulhugon,

Babatngon, Leyte, containing an area of 5,000 sq.ms.
bounded on the North by Cad. Lot No. 4325; on the
South by Cad Lot No.9653; on the East by Cad. Lot No.
1254; on the West by Cad. Lot No. 7654; covered by
Tax Declaration No. 1543241, declared in the name of
Aileen B. Lauron.”

IN WITNESS WHEREOF, I have hereunto set my hand this

th
19 day of August 2022 at Babatngon, Leyte, Philippines.

AILEEN B. LAURON
MORTGAGOR

Signed in the Presence of:

KATHERINE B. MARGA NICAH B. CORRE

Witness Witness

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 th
SUBSCRIBED AND SWORN to before me this 19 of August
2022 here in the Municipality of Babatngon, Leyte, Philippines.

Doc. No. ___

Page No. ___
Book No. ___
Series of 2022