DEED OF SALE with ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF SALE with ASSUMPTION OF MORTGAGE is made, executed and

entered into by:

SPS. MARVIN TABITA DE STA. CRUZ and JENNYBETH TABANG DE

STA. CRUZ, both of legal age, Filipinos, and with residence and postal address at
#829-H Road 3, EP Village, Brgy. Aguinaldo, Quezon City 1100, hereinafter
referred to as the VENDORS;

-AND-

SPS. JORDANNA P. LIWAG and CHRISTOPHER RAY LIWAG, both of legal

age, Filipino citizens and with residence and postal address at 792 Lopez Jaena
St., Caridad, Cavite City 4100, hereinafter referred to as the VENDEES.

WITNESSETH;

WHEREAS, the VENDORS are the registered owners of a parcel of land with
improvements located at Block 6 Lot 5 Brighton Phase 5, Brgy. Pasong
Camachile, Gen. Trias, Cavite 4107 and covered by Transfer Certificate of Title
No. ______ containing a total area of SIXTY FOUR (64) SQUARE METERS, more
or less, and more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE NO. _____

_____________________________________________________________________________

WHEREAS, the above-described property are presently mortgaged to

BANCO DE ORO with a loan amount of Two Million One Hundred Eighty Five
Thousand and Fifty Six Pesos (Php 2,185,056.00);

WHEREAS, the VENDEES has offered to buy and the VENDORS have
agreed to sell the above-described parcel of land with all the improvements
thereon for the full down payment of TWO HUNDRED SIXTY THOUSAND PESOS
(Php 260,000.00) Philippine Currency to be paid on/or before MARCH 15, 2020;

WHEREAS, the VENDEES may assume the first payment of monthly

amortization starting on January 23, 2020, and every 23rd of the month thereafter
in the amount of NINETEEN THOUSAND FOUR HUNDRED NINETY-THREE
PESOS and SIXTY-ONE CENTS (Php 19,493.61) for fifteen (15) years or until
fully paid;

WHEREAS, the VENDEES has agreed to assume, as they hereby assume,

all the duties and obligations of the VENDORS imposed upon the latter in the afore-
mentioned DEED OF MORTGAGE, as if the present VENDEES were the
MORTGAGOR in the said DEED OF MORTGAGE;

NOW THEREFORE, for and in consideration of the sum of TWO

HUNDRED SIXTY THOUSAND (Php 260,000.00) Philippine Currency, hand paid
by the vendee to the vendors, the VENDORS DO HEREBY SELL, TRANSFER,
and CONVEY by way of Absolute Sale unto the said VENDEES, her heirs and
assigns, the certain parcel of land together with all the improvements found
thereon, free from all liens and encumbrances excepting the mortgagee as may
be subsisting in favor of BANCO DE ORO; and

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 The VENDEES does hereby accept this sale and binds herself to assume
as she hereby assumes the payment of the unpaid balance of the mortgage in
indebtedness of the VENDORS in favor of the aforenamed mortgagee and does
hereby further agree to be bound by the precise terms and conditions therein
contained;

The VENDORS shall secure the approval of the Mortgagee to the

assumption by the VENDEES of the mortgages over the subject parcel of land.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands
at the place first above written, on this _______________________ at
________________________________.

________________________________ ________________________________
MARVIN T. DE STA CRUZ JENNYBETH T. DE STA CRUZ
Vendor Vendor

_____________________________ ______________________________
JORDANNA P. LIWAG CHRISTOPHER RAY LIWAG
Vendee Vendee

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

City of Cavite ) SS.

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

Name Proof of Identity/Number

MARVIN T. DE STA CRUZ Driver’s License No. N03-07-019182
JENNYBETH T. DE STA CRUZ AFP ID No. DN19-E-8538
JORDANNA P. LIWAG Company ID No. 1638 (NETSUITE)

Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same are their free act and voluntary
deed.

This instrument, consisting of two (2) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every
page thereof by the concerned parties and their witnesses, and sealed with my
notarial seal.

WITNESS MY HAND AND SEAL on this ___________________ at City of

Cavite.

Notary Public

Doc. No. ........;

Page No. .......;
Book No. .......;
Series of 2020.

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