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The document is an affidavit of conformity signed by an individual third party mortgagor. In the affidavit, the mortgagor states that they own a property covered by a title, and consent to mortgage the property in favor of a bank as security for a loan taken out by a relative who is the borrower. The mortgagor acknowledges understanding the loan agreement and promissory note, and agrees to be bound by the terms of the mortgage. The mortgagor also agrees the lien on the property extends to any loan renewals or restructurings, and waives claims against the bank if foreclosure occurs.
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Sample Affidavit of Conformity for Third Party Mortgages
The document is an affidavit of conformity signed by an individual third party mortgagor. In the affidavit, the mortgagor states that they own a property covered by a title, and consent to mortgage the property in favor of a bank as security for a loan taken out by a relative who is the borrower. The mortgagor acknowledges understanding the loan agreement and promissory note, and agrees to be bound by the terms of the mortgage. The mortgagor also agrees the lien on the property extends to any loan renewals or restructurings, and waives claims against the bank if foreclosure occurs.
The document is an affidavit of conformity signed by an individual third party mortgagor. In the affidavit, the mortgagor states that they own a property covered by a title, and consent to mortgage the property in favor of a bank as security for a loan taken out by a relative who is the borrower. The mortgagor acknowledges understanding the loan agreement and promissory note, and agrees to be bound by the terms of the mortgage. The mortgagor also agrees the lien on the property extends to any loan renewals or restructurings, and waives claims against the bank if foreclosure occurs.
MAKATI CITY) S.S. AFFIDAVIT OF CONFORMITY I/We,_____________________, of legal age, Filipino, and presently residing at _________________________, after being duly sworn to in accordance with law, hereby depose and say, that: I/We am/are the owner/s of that certain property covered by TCT No.___________, of the land records of______________, together with the improvements thereon (the Mortgaged Property); I/We hereby give my/our consent to mortgage the abovementioned property in favor of the _____________(BANK)_____________ as security for the loan of ________ (the Borrower), who is my/our (state degree of ascendancy or descendancy, ex., father, mother, brother, sister son, daughter, which should be limited to second degree of blood relationship); I/We has/have read all the provisions of the Third Party Mortgage, the Loan Agreement and the Promissory Note/s executed by the Borrower and understood the consequences of my/our giving conformity to the mortgage and agree to be bound by the provisions thereof; The lien constituted on the Mortgage Property by virtue of my/our having constituted a mortgage therein extends to any rollover, renewal, restructuring, etc., provided, however, that our prior written consent or conformity to any subsequent transaction by the Borrower is first obtained; I/We will not benefit, directly or indirectly from the proceeds of the loan; In the event of foreclosure, I/We hereby recognize the validity of the foreclosure and waive any and all claims or causes of action arising from the exercise made by the ___________(BANK)_________ of its right under the terms of the Mortgage Contract/Term Loan Agreement and the covering Promissory Note/s. This Affidavit is being executed to attest to the foregoing facts and in compliance with the requirements prescribed by the ____(BANK)_________. IN WITNESS WHEREOF, I/we has/have hereunto set our hand this____ day of______, at________, Philippines. Affiant/s SUBSCRIBED AND SWORN TO before me this day of ___________ at____ , Affiant exhibited to me their Comm. Tax Cert. No._________issued at_____on__________. Notary Public Until December 31, 2006 Doc. No._____ Page No._____ Book No._____ Series of 200__.
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