REAL ESTATE MORTGAGE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Real Estate Mortgage Agreement executed by and between:

____________________________, Filipino, of legal age, widow and Lucas, La

Trinidad, Benguet, hereafter called the Debtor/Mortgagor;

-and-

ENBC Lending Investors Inc (ENBC), a corporation duly incorporated under the
laws of the Philippines with principal office address at GF Insular Life Bldg.,
Abanao Extension Corner Legarda Road, Baguio City herein represented by its
CHIEF OPERATIONS OFFICER SHERYL C. GONAN hereafter called the
Creditor/Mortgagee;

WITNESSETH: That-

I. THE PROPERTY

The property subject of this contracts is a parcel of land, more particularly

described as follows:

TAX DECLARATION OF REAL PROPERTY

RESIDENTIAL LAND
ARP NO: 2018-01-001-185423 PROPERTY INDEX NO. 102-01-001-06-L840
LOCATION: CORNER ALLEY AND QUIRINO HIGHWAY IRISAN/QUEZON HILL

AREA: TWO HUNDRED FIFTY (250) SQUARE METERS

II. THE LOAN

Debtor/Mortgagor has obtained a loan from the Creditor/Mortgagee in the sum

of ________________________( ___________________) subject to the terms and
conditions hereunder prescribed, to wit:

A. The loan shall be payable on or before ___________;

B. It shall bear interest at the rate of _______________ (___%) per annum payable
every ______ day of the month corresponding to the month for which interest is
due;

C. Failure and/or refusal of the Debtor/Mortgagor to pay the amount due on or

before ________________ included the interest therein, said obligation shall
become automatically due and demandable.

III. THE MORTGAGE

For and in consideration of the loan stated in paragraph 2 hereof and by way of
security therefor, the Debtor/Mortgagor hereby constitutes a Real Estate
Mortgage on the Property in favour of Creditor/Mortgagor, under the following
terms and conditions:
A. The mortgage shall secure the payment of the loan, together with the unpaid
interest, if any.

B. In case the maturity of the loan is extended, upon mutual agreement in

writing of the parties, this mortgage shall be a continuing security for the
obligation/s of the Debtor/Mortgagor to the Creditor/Mortgagee without the
necessity of executing a new contract of real estate mortgage.

C. If the Debtor/Mortgagor shall well pay and/or comply with his all and every
obligation under this Real Estate Mortgage Agreement, then this mortgage shall
cease to have any force and effect. However ,if the Debtor/Mortgagor shall fail
and/or refuse, for any reason whatsoever, to fully pay and/or comply with all or
any of his said obligations, the the Creditor/Mortgagee may judicially or
extrajudicially, at his option, foreclose the mortgage on the property in
accordance with law.

D. In case collection of any amount due under this mortgage agreement is

referred to a lawyer by the Creditor/Mortgagee, the Debtor/Mortgagor is under
obligation to pay the former twenty percent (20%) of the amount due.

IV. EXPENSES

Expenses for notarial fees shall be for the account of the Debtor/Mortgagor. All
other expenses for the registration with the appropriate office/ the Register of
Deeds shall be for the account of the Creditor/Mortgagee

V.

The parties agree that all court actions concerning this Agreement shall be
brought before the proper courts of Baguio City or La Trinidad to the exclusion of
any other venue.

VI.

If any one or more of the provisions of this agreement is declared invalid or

unenforceable, in any respect under any applicable law, the validity, the
legality, or enforceability of the remaining provisions contained herein shall not
in any way be affected or impaired.

IN WITNESS whereof, the parties affixed their signatures this ____________

day of _________________ 2018 in the City of Baguio.

ENBC as represented by SHERYL C. GONAN

Debtor/Mortgagor Creditor/Mortgagee

ACKNOWLEDGEMENT

Republic of the Philippines}

In the City of Baguio }

BEFORE ME personally appeared:

PERSONS IDENTIFICATION
1.
2.

presenting their competent evidence of identity, known to me and tome

known to be the same persons who executed the foregoing Real Estate
Mortgage Agreement and they acknowledged to me that the same is their
knowing, free and voluntary act and deed.

This document related to the mortgage of a parcel of land registered

under TCT No. T- 66235 of the Registry of Deeds Baguio City and consists of three
(3) pages, including this page, each of which had been signed by the parties
and their instrumental witnesses.

WITNESS my signature and notarial seal this _____ day of _______________ 2018

Doc. No. ___

Page No. ___
Book No. ___
Series of 2018.