REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

THIS CONTRACT, made and entered into by and between:
GREGORIA A. GALARRITA, of legal age, Filipino, surviving spouse of the late
Dominador Galarrita and a resident of Alubijid, Misamis Oriental, herein-after referred
to as the MORTGAGOR;
and
ATTY. ADRIAN L. BARBA, of legal age, Filipino, married and a resident of Apovel
Subd., Bulua, Cagayan de Oro City, hereinafter referred to as the MORTGAGEE.

Witnesseth:
That the MORTGAGOR does hereby convey by way of REAL ESTATE MORTGAGE
unto the MORTGAGEE, for an in consideration of a loan in the sum of TWO HUNDRED
THOUSAND (Php 200,000.00) PESOS, the following described real property, situated in
Loguilo, Alubijid, Misamis Oriental, containing an area of 1,471 sq. m. and denominated
as Lot 11294-G under Tax Declaration No. 0817000703848 of the Municipal Assessor of
Alubijid, Misamis Oriental, more particularly described as:
Boundaries:
North: Lot No. 04, 05
East: Lot No. 05

South: Provl Road

West: Lot No. 07

of which real property the Mortgagor is the successor-in-interest, being the surviving
spouse of late Dominador Galarrita, the registered owner of the untitled agricultural
land;
That this real estate is given as security for the payment of the mortgage within a
period of three (3) years from the execution hereof;
By these presents, the PARTIES hereby covenant and agree that the loan shall
bear no interest during the three (3) year period; HOWEVER, the mortgagee shall
assume and take over the enjoyment and possession of the agricultural land subject of
the real estate mortgage and until the amount of the loan shall have been fully paid and
settled;

That the conditions of the real estate mortgage are such that if the Mortgagor shall
well and truly pay or cause to be paid unto the Mortgagee the aforesaid amount, then
this mortgage shall be of no further force and effect; OTHERWISE, the same shall
remain in force and in effect and shall be enforceable in the manner provided by law.
That further, this real estate mortgage shall prevail over a previous real estate
mortgage docketed as Doc. No. 20, Page No. 4, Book No. 2 Series of 2013 and notarized
by Atty.Erwin B. Bucio, MSCRIM, executed by the same parties and witnesses to the
said previous real estate mortgage.
IN WITNESS WHEREOF, the Parties have hereunto affixed their signatures this
___________ day of _________ 2013 at Cagayan de Oro City, Philippines.

GREGORIA A. GALARRITA
MORTGAGOR

ATTY. ADRIAN L. BARBA

MORTGAGEE

Signed in the presence of:

VICTOR O. TUBAC

DEMI A. GALARRITA

Republic of the Philippines)

City of Cagayan de Oro )S.S.
BEFORE ME, this __________ day of __________ 2013 at the City of Cagayan de
Oro, appeared Gregoria A. Galarrita, with CTC No. _____________ issued on ___________
at _________________________ and Atty. Adrian L. Barba, with CTC No. ____________
issued on _____________ at __________________________; known to me known to be the
same persons who executed the foregoing Real Estate Mortgage, consisting of two (2)
pages, including this page, and they acknowledged to me the foregoing agreement is
their voluntary act and free deed.
WITNESS MY HAND AND SEAL, the date, place aforegiven.
Doc No. _____.
Page No. ____.
Book No. ____.
Series of 2013.