REPUBLIC OF THE PHILIPPINES
)
CITY OF CEBU
) S.S REAL ESTATE MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:
This Real Estate Mortgage, made by and between: Ben Ferrer, of legal age, (single / married / widow), and a resident of 181-P Elizabeth Pond Ext. St., Cebu City, Philippines (hereinafter known as the MORTGAGOR); - and -
Banco de Oro Escario Branch, a corporation duly organized and existing under the laws of the Philippines with office of business at 231 Escario St., Cebu City, Philippines (hereinafter known as the MORTGAGEE); WITNESSETH; That:
The MORTGAGOR is indebted unto the MORTGAGEE in the sum of TWO HUNDRED TEN THOUSAND PESOS (P 210, 000), Philippine Currency, receipt of which is acknowledged by the MORTGAGOR upon the signing of of this instrument, payable to the order of the MORGAGEE without need of prior demand or notice n otice within a period pe riod of SEVEN (7) MONTHS, at THIRTY THOUSAND PESON (P 30, 000) per month starting on July 1, 2012 and on every 30 th of the month thereafter until fully paid, with interest thereon at the rate of ONE PERCENT ( 1%) per month. NOW, THEREFORE, for and consideration of the afore-mentioned indebtedness, and to assure the performance of said obligation to pay, the MORTGAGOR does hereby convey and DELIVER by way of MORTGAGE MORTGAGE unto the MORTGAGEE, the following parcel of land, together with all the improvements found and standing thereon, more particularly described as follows: TCT No. T-9132 A PARCEL PARCEL OF LAND LAND (Lot 32 of the consolidation-subd consolidation-subdivision ivision plan plan (LRC) (LRC) Pcs-5141, Pcs-5141, being a portion of the consolidation of Lots 1 and 2, Psu-112287 Amd., LRC (GLRO) Rec. No. N-17511), situated in Escario St., Cebu City, Philippines. Bounded on the NE., points 3 to 6, by Lot 85; on the S., points 6 to 1 by Lot 30; on the SW., points 1 to 2, by Lot 31; and on the N., points 2 to 3 by Lot 35, all of the consolidation-subdivision plan. Beginning at a pont marked "1" on plan, being N. 51 deg. 36' E., 1321.76 m. from B.L.L.M. No.1, Cebu City, Cebu xxxxxxxx (a copy of which title is hereto attached as Annex "A")
That it is the condition of this Mortgage that should the MORTGAGOR perform the obligation to pay the afore-cited indebtedness of TWO HUNDRED TEN THOUSAND PESOS (P 210, 000) together with accrued interest thereon, within the agreed term, this Real Estate Mortgage shall be discharged and shall at once become null and void and of no effect
whatsoever, otherwise, it shall subsist and remain in full force and effect and be subject to foreclosure in the manner and form prescribed by law. IN WITNESS WHEREOF, we have have hereunto set their hands, this 1, 2012 at the City of Cebu , Philippines. Ben Ferrer
at July
Jane Gonzales Branch Manager, Banco de Oro
MORTGAGOR
MORTGAGEE
With my Marital Conformity: Anna Ferrer SIGNED IN THE PRESENCE OF: Mark Tolentino
Andrea
Salazar
ACKNOWLEDGMENT BEFORE ME, a Notary Public for and in the City of Cebu this 1 st day of July 2012, personally came and appeared: Name Competent Evidence of Identity Place Issued/Validity Period Mark Tolentino Cebu City – 06/ 20/12 Driver’s License No. 95904604 Andrea Salazar Cebu City – 05/ 14/12 Driver’s License No. 35983935735 known to me and to me known to be the same persons who executed the foregoing Real Estate Mortgage and they acknowledged to me that the same is their free and voluntary act and deed. WITNESS MY HAND AND SEAL, at the date and place first above written. Doc. No. 4; Page No. 8; Book No.3; Series of 2012.
