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REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

THAT FOR AND IN CONSIDERATION OF THE SUM OF SIX HUNDRED THOUSAND


PESOS (P600,000.00), Philippine Currency, receipt of a part of which is hereby
acknowledged from SOFIA P. MARTINEZ and DANILO F. MARTINEZ, both of legal
age, Filipinos and residents of Safad, Lanao del Norte, Philippines, and I, GAVIOLA M.
MALAQUE, likewise, of legal age, Filipino and a resident of Baranagay Maranding,
Lala, Lanao del Norte, Philippines, by these presents constitutes a Real Estate
Mortgage over our real estate property under Transfer Certificate of Title No. 149-
2018000362, described with particularity, as follows:

“A parcel of land situated in Maranding, Lala, Lanao del Norte


more particularly described as Lot No. 450-C-6-B-5, Plan No. PSD-10-
072604, and a portion of Lot 450-C-6-B with PSD-12-002023 located at
Purok Bulahan, Brgy, Maranding, Lala, Lanao del Norte, containing an
area of TWO HUNDRED FORTY-ONE SQUARE METERS (241 sqm.)
including all improvements thereon.”A copy of the said title is
hereunto attached in this document.

The parties, as to the payment of the MORTGAGE CONSIDERATION agreed


that the FIRST PAYMENT amounting to THREE HUNDRED THOUSAND PESOS (P
300,000.00) will be paid by the MORTGAGEE to the MORTGAGER upon the signing of
this deed. The SECOND PAYMENT amounting to (P 300,000.00) will be paid on or
before JUNE 9,2019. As such, the total mortgage consideration should be SIX
HUNDRED THOUSAND PESOS (P 600,000.00)

It is further agreed that the amount secured by the herein MORTGAGE shall
earn an interest of three (3%) percent monthly and that the same shall be deemed
automatically extinguish and without any force and effect upon payment of said
amount, including earned interest, within the period of TWO (2) years from date
hereof.

Furthermore, it is agreed that the parties will allow a NINETY (90)-day grace
period for the payment of the consideration and interest from the lapse of the TWO
(2) years.

Lastly, it is agreed upon that the MORTGAGEE will cause the cancellation of
the Memorandum of Encumbrance annotated at the back of the Transfer Certificate
of Title subject of this deed.

That in case of non-payment or violation of the terms of this mortgage, or


any of the provisions of Republic Act No. 720, as amended, this Mortgage shall be
immediately foreclosed, judicially or extra-judicially as provided by law and the
MORTGAGEE is hereby appointed Attorney-In-Fact of the MORTGAGOR with full
power and authority to take possession of the mortgaged properties, without the
necessity of any judicial order or any other permission or power, and to take any
other legal action that may be necessary to satisfy the mortgaged debt, but if the
MORTGAGOR shall well and truly fulfill the obligation above-stated, according to the
terms thereof, then this mortgage shall become null and void.

IN TESTIMONY WHEREOF, we have hereinto affixed our signatures this day 9th
day of February 2019 in the Province of Lanao del Norte, Philippines.

GAVIOLA M. MALAQUE
2

Mortgagee

SOFIA P. MARTINEZ DANILO F. MARTINEZ


Mortgagor Mortgagor

SIGNED IN THE PRESENCE OF

_____________________ ____________________

REPUBLIC OF THE PHILIPPINES )


Lala, Lanao del Norte ) S.S
X----------------------------X

ACKNOWLEDGEMENT

BEFORE ME, a Notary Public, for and in the City of Cebu, personally
appeared the following:

 GAVIOLA M. MALAQUE
ID number:

 SOFIA P. MARTINEZ
ID number:

 DANILO F. MARTINEZ
ID number:

with their respective Identification nos. indicated below their names, known to me
and to me known be the same persons who executed the foregoing Real Estate
Mortgage and they acknowledged before me that the same is their free and
voluntary act and deed.

That this instrument consisting of three (3) pages including the page
whereon the acknowledgement is written has been signed at the left hand margin by
the parties and their instrumental witnesses.

WITNESS MY HAND AND SEAL THIS 9th day of February 2019 in Province of
Lanao del Norte, Philippines.

DOC NO. ______


PAGE NO. _____
BOOK NO. _____
SERIES OF 2019.

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