Assumption of Mortgage (Naguit)
Assumption of Mortgage (Naguit)
Assumption of Mortgage (Naguit)
SPS. JAIME S. SICAT and GINA P. SICAT, both of legal age, Filipino Citizens and
with residence and postal address at No. 07 Las Vegas Street, Villa Purisima, Sindalan,
City of San Fernando, Pampanga, hereinafter called the VENDORS.
– and –
ARTURO L. NAGUIT, of legal age, single, Filipino Citizen, and with residence
and postal address at 322 San Nicolas, Minalin, Pampanga, hereinafter called
the VENDEE.
WITNESSETH: THAT-
WHEREAS, the VENDORS are the owner of certain parcel of land with all the
improvements existing thereon, situated at Brgy. of Maimpis, Municipality of San
Fernando, Province of Pampanga, specifically described as follows:
WHEREAS, the VENDORS have offered to sell and the VENDEE has agreed to
buy the above-described parcels of land with all the improvements thereon for the
total price of Php1,500,000.00 payable in the manner and form set forth
hereinbelow:
The VENDEE 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 amounting to Php________________________ for the loan and as
of this date 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 VENDEE 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
____________________________.
Vendee Vendee
TIN: _________________ TIN: __________________
ARTURO L. NAGUIT
Vendor
SIGNED IN THE PRESENCE OF:
_____________________ _____________________
ACKNOWLEDGMENT
known to me to be the same persons who executed the foregoing instrument and
they acknowledged to me that the same is their free and voluntary act and deed.