REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This MORTGAGE, made and executed by Mr. A,
MORTGAGOR(S) in favor of Mr. B, called as the MORTGAGEE.

called

the

WITNESSETH
1. That at as security for the payment of the loan or advance in the
principal sum of one hundred thousand pesos ( P 100,000.00) and such other
loans, advances already obtained, or still to be obtained by the MORTGAGOR
as MAKERS or GUARANTORS from the MORTGAGEE plus interest at the rate
of 18% per annum, payable on the dates mentioned in the corresponding
promissory notes, the MORTGAGORS hereby transfer(s) or conveys(s) to
MORTGAGEE by the way of first mortgage the parcel(s) of land described
hereunder, together with the improvements now existing or which may
hereafter be made thereon, of which the MORTGAGORS represents and
warrants that the MORTGAGORS is/are the absolute owner(s) and that the
same is/are free from all liens and encumbrances:

2. That in case of non-payment or violation of the terms of this

mortgage or any of this provision, this mortgage shall be immediately
foreclosed judicially or extra-judicially as provided by law, and MORTGAGEE is
hereby appointed Attorney-in Fact of the MORTGAGORS with full powers and
authority to take possession of the mortgaged property/ies without the
necessity of any judicial order or any other permission or power, and to take
any legal action that may be necessary to satisfy the mortgaged debt, but if
the MORTGAGORS shall well and truly fulfill the obligation above stated
according to the terms thereof, then this mortgage shall become null and
void;
3. That if by reason of incurable defects, this Mortgage cannot be
recorded in the Register of Deeds, the Obligations therein secured shall
immediately become due, payable and defaulted;
4. That when the property/ies mortgaged is/are not registered under
the Torrens System nor the Spanish mortgage law, the parties agree to
register this instrument in the Register of Deeds of the City of Cebu in
accordance with the provision of Act No. 3344, provided that when the
corresponding title(s) to the property/ies is/are issued while this Mortgage
subsist, this instrument shall serve as authority for the Register of Deeds to
annotate this mortgage on the corresponding certificate(s) of title; and
provided further that the Mortgagor obligates himself to notify the
Mortgagee/Bank as soon as he receives the certificate(s) of title to the
property/ies.
5. That there is no other deed of instrument affecting the property
described above pending registration in the Office of the Register of Deeds.
6. And that in case of judicial execution of the obligation hereby
secured or any part of it, the MORTGAGORS waives all the rights under the
provisions of Rule 39, section 12 of the Rules of Court.

With full knowledge of the above stipulations, I/We hereby affix my/our
signature(s)/right thumb mark(s) on this document at Cebu City, Philippines
this 02 of October 2008.
Mr. A
Mortgagor
Mr. B
Mortgagee
Signed/Thumb Mark in the Presence of:
Mr. X
Witness
REPUBLIC OF THE PHILIPPINES )
CITY OF CEBU

Mr. Y
Witness
) S. S.

At the locality above mentioned, this 02 day of October, 2008

personally appeared the following:
NAME
CTC NO./IDs
DATE and PLACE OF ISSUE
Mr. A
Mr. B
Mr. X
Mr. Y
Known to me to be the same person(s) who executed the foregoing
instrument(s) and acknowledge that the same is, his/their free and voluntary
act and deed. This instrument refers to a mortgage of one (1) parcel of land
described on the face hereof, and is/are signed by the mortgagor(s) and their
witnesses.
IN WITNESS HEREOF, I have set my hand and affixed my seal on the
date and at the place above stated.

Doc No.
Page No.
Book No.
Series of 2008