Real Estate Mortgage Agreement: FLORY JOY ALVARO, Filipino, of Legal Age, Married and With Address at Purok

REAL ESTATE MORTGAGE AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Real Estate Mortgage Agreement executed by and between:
FLORY JOY ALVARO, Filipino, of legal age, married and with address at Purok
2, Taloto District, Tagbilaran City, Bohol, hereafter called the Debtor/Mortgagor;
– and –
BETHUEL NUEZ, Filipino, of legal age, married, and a resident of Purok 5,

Manga District, Tagbilaran City, Bohol, hereafter called the Creditor/Mortgagee;
W I T N E S S E T H : That –
1. The Property. – The Property subject of this contract is a parcel of land, more
particularly described as follows:
Transfer Certificate Of Title No._1111111
Registry Of Deeds For Tagbilaran City
[COPY TECHNICAL DESCRIPTION FROM THE TITLE]
together with all the improvements thereon, herein collectively referred to as the
Property.
2. The Loan. – Debtor/Mortgagor has obtained a loan from the Mortgagee in the
sum of TWO HUNDRED THOUSAND Pesos (P200,000) subject to the
terms and conditions hereunder prescribed, to wit:
2.1. The loan shall be payable on or before 15 December 2020.
2.2. It shall bear interest at the rate of twelve percent (12%) per annum payable
every 15th day of the month corresponding to the month for which interest is due.
2.3. The amounts due by way of interest payments shall be covered by [number]
(__) postdated checks of P__________ each and the principal loan of
P200,000shall also be covered by a postdated check dated 15 December 2020.
2.4. Failure and/or refusal or the Debtor/Mortgagor to pay two (2) consecutive
monthly interests (or when the checks are dishonored) shall automatically make the
principal loan of P200,000 due and demandable, together with the unpaid interest,
if any.
3. The Mortgage. – For and in consideration of the loan stated in paragraph 2

hereof and by way of a security therefor, the Debtor/Mortgagor hereby constitutes
a real estate mortgage on the Property in favor of Creditor/Mortgagee, under the
following terms and conditions:
3.1. The mortgage shall secure the payment of the loan, together with the unpaid
interest, if any.
3.2. 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.
3.3. If the Debtor/Mortgagor shall well pay and/or comply with his all and every
obligation under this Deed, 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, then
the Creditor/Mortgagee may judicially or extrajudicially, at his option, foreclose
the mortgage on the property in accordance with law.
3.4. In case collection of any amount due under this mortgage agreement is
referred to a lawyer by the Creditor/Mortgagor, the Debtor/Mortgagor is under
obligation to pay the former twenty percent (20%) of the amount due.
4. 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.
5. The parties agree that all court actions concerning this Agreement shall be
brought before the proper courts of Tagbilaran City to the exclusion of any other
venue.
6. If anyone or more of the provisions of this Agreement is declared invalid or

unenforceable, in any respect under any applicable law, the validity, 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 25th day of
February 2019 in Tagbilaran City.
Signed:
FLORY JOY ALVARO BETHUEL NUEZ

(Mortgagor) (Mortgagee)
Signed in the presence of:
ALEXIS TING
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
) S.S.
x––––––––––––––––––––––x
BEFORE ME personally appeared:
PERSONS ID
FLORY JOY ALVARO PRC License No. 0123456
BETHUEL NUEZ PRC License No. 987654
presenting their competent evidence of identity, known to me and to me 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 relates to the mortgage of a parcel of land registered under TCT
No. _______________of the Registry of Deeds for TagbilaranCity 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 25th day of February 2019.
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2017.

Real Estate Mortgage Agreement: FLORY JOY ALVARO, Filipino, of Legal Age, Married and With Address at Purok

Uploaded by

Copyright:

Available Formats

Real Estate Mortgage Agreement: FLORY JOY ALVARO, Filipino, of Legal Age, Married and With Address at Purok

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Real Estate Mortgage Agreement: FLORY JOY ALVARO, Filipino, of Legal Age, Married and With Address at Purok

Uploaded by

Copyright:

Available Formats

REAL ESTATE MORTGAGE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Real Estate Mortgage Agreement executed by and between:

BETHUEL NUEZ, Filipino, of legal age, married, and a resident of Purok 5,

Transfer Certificate Of Title No._1111111

Registry Of Deeds For Tagbilaran City

[COPY TECHNICAL DESCRIPTION FROM THE TITLE]

2.1. The loan shall be payable on or before 15 December 2020.

3. The Mortgage. – For and in consideration of the loan stated in paragraph 2

6. If anyone or more of the provisions of this Agreement is declared invalid or

FLORY JOY ALVARO BETHUEL NUEZ

Signed in the presence of:

REPUBLIC OF THE PHILIPPINES)

BEFORE ME personally appeared:

FLORY JOY ALVARO PRC License No. 0123456

BETHUEL NUEZ PRC License No. 987654

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

Doc. No. ____;

Page No. ____;

Book No. ____;

You might also like