Affidavit of Consolidation
Affidavit of Consolidation
2. That on 19 November 1992 and 30 March 1993, Sps. Reynaldo T. Nava and
Eldeliza A. Nava obtained a loan with University Savings and Loan Bank in the
amount of Five Hundred Thousand Pesos (P500,000.00) and Two Hundred Fifty
Thousand Pesos (P250,000.00), respectively;
3. That as a security for the payment of the said loan, Sps. Nava executed a Real
Estate Mortgage (REM) in favour of the University Savings Bank (formerly
University Savings and Loan Bank) over the real property embraced in and
covered by Transfer Certificate of Title No. 138322 and registered under the
spouses name which property is more particulary described as follows:
A parcel of land (LOT 21, Blk 5-F of the subd., plan (LRC) Psd 110835 Sheet 1,
being a portion of Blk 3-K (LRC) Psd-108692, LRC Rec. No. 6137), situated in the
Mun. Of Muntinlupa, Prov. Of Rizal, Isalnd of Luzon. Bounded on the NE., points
5 to 6 by Lot 25; on the SE., by points 6 to 1 by Lot 24; and points 1 to 2 by Lot 22;
on the SW., points 2 to 3 by Lot 19, and on the NW., points 3 to 5 by Street Lot 3,
all of the subd., plan. Beginning at a point marked “1” on the plan being S. 74 deg
43”W., 418.96 m. From Mon. 51, Muntinlupa Estate; Xxxxxxxxxxxxxxxxxxx
containing an area of TWO HUNDRED SIXTY TWO (262) SQUARE METERS,
more or less.”
5. That the City Sheriff of Muntinlupa City sold the above-described property with all
the improvements and buildings thereon to the undersigned Affiant as the highest
bidder for the sum of One Million Five Hundred Sixty Five Hundred Eighty Seven
Pesos and Eighty Nine Centavos (P1,560,587.89), Philippine Currency
That the one (1) year period for redemption has already expired without the Mortgagor or
any person in his representation having exercised their right of redemption over the said
property and therefore, the consolidation of title and ownership over the said property in
favor of the undersigned Affiant is proper and in accordance with law;