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REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This REAL ESTATE MORTGAGE, made and


executed by and between:

IDA DE MATA JAPON, MORTGAGOR, Filipino, of


legal age, married to GIL D. JAPON, with postal
residence address at Kalye Putol, Flores Street, Piot
Sorsogon City; and

FE LABITAG CRISOLOGO, Filipino, of legal age,


married with post-office address at Brgy. Abuyog,
Sorsogon City.

-Witnesseth-

That the MORTGAGOR does hereby convey by


way of REAL ESTATE MORTGAGE unto the
MORTGAGEE the following described real property,
situated in Brgy. Piot, Sorsogon CIty, together with all
improvements, to wit:

TCT NO. T-38025

A parcel of land [ Lot 3867-F-, Pad-


03011767 of the subdivision survey
being a portion of Lot 3867-F (LRC) Pad-
40937 situated in the Poblacion City of
Sorsogon, Province of Sorsogon, island
of Luzon, bounded on the S.S., along
line 5-1 by Lot 3867-F-6, prop of Lez
Zulueta; on the S.S., along line 1-2-3 b
y Lot 3867-F-3, prop of B. Zulueta, all of
Pad-05-011767; on the N.E.; along line
3-4 by Lot 3895, Cad-192. Sorsogon
Cadastre and on the N.E., along line 4-5
by Lot 3867-F (LRC) Ped-40937,
containing an area of THREE HUNDRED
FIFTY FIFVE (335) square meters.

of which real property the MORTGAGOR is the owner


in fee simple by virtue of the Deed of Absolute Sale
executed by the original owner Luz Celie Berina unto
her mother MATILDE E. DE MATA, the latter in turn
having sold unto her the said property. Her title thereto
being evidenced by undivided Transfer Certificate of
Title No. TCT NO. 38025, of the land registry of the
Province of Sorsogon; [A machine copy of the said Deed
of Absolute Sale is hereto attached and marked as
ANNEX A]

That this real estate mortgage is given as a


security for the payment to the mortgagee of a certain
promissory note, dated May 30, 2016 for the sum
SEVENTY THOUSAND PESOS [Php70,000.00], sans
interest provided that the Mortgagor shall be leasing
from the Mortgagee the subject residential property on
a monthly basis of TWO THOUSAND
(Php2,000.00)PESOS, according to the terms thereof
and in words and figures herein below indicated forming
part of this Real Estate Mortgage Agreement.

That the conditions of this REAL ESTATE


MORTGAGE are such that if the mortgagor shall well
and truly pay or cause to be paid unto the mortgagee
the aforesaid sum, sans interest, then this mortgage
shall be of no force and effect; OTHERWISE, the same
shall remain in full force and effect and shall be
enforceable in the manner provided by law.

That this mortgage shall be governed by the


following terms and conditions:

1. This mortgage shall be valid and effective


for a period of one year [12] months upon the
date of execution, in consideration of the loan,
receipt of which is hereby acknowledged upon
signing this document;

2. That the mortgagor shall pay the


mortgagee the amount of SEVENTY THOUSAND
[PHP70,000.00] PESOS at the end of the twelve
month period;

3. That there shall be no monthly interest to


be paid by the mortgagor, instead the latter shall
pay the mortgagee the amount of TWO
THOUSAND (Php2,000.00) PESOS as RENTAL
for the property held in mortgage on or before the
15th of every month, considering that the
mortgagor will be utilizing the subject property
during the validity and existence of the mortgage
agreement;
4. That the Mortgagor-Lessor shall pay the
initial rent of TWO THOSAND (Php2,000.00)
PESOS, two months after the signing of this
Mortgage or on or before August 15, 2016;

4. That any violation of the terms and


conditions of this mortgage agreement shall
automatically cause the indebtedness as due and
demandable. Said loan shall be due and
demandable without further recourse and without
need of further demand.

5. Further, in case a suit may arise by reason


of nonpayment of the entirety of the loan, shall
authorize herein Mortgagee to call the ENTIRE
indebtedness as due and demandable without
further demand and recourse by foreclosure,
judicial or extrajudicial, and/or by way of collection
suit, at the election of the Mortgagor;

IN WITNESS WHEREOF, we have hereunto set


our hands this 30th day of May, 2016, at Sorsogon City,
Province of Sorsogon Philippines..

IDA D. JAPON FE L. CRISOLOGO


Mortgagor Mortgagee

Signed in the presence of:

_______________________ _______________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES]


CITY OF SORSOGON ] Sc.

BEFORE ME, a Notary Public for and within the


locality of the above-mentioned, personally appeared
IDA DE MATA JAPON, Mortgagor, with government
issued ID No. _________________________, and MRS. FE L.
CRISOLOGO, Mortgagee, with government issued ID
No. ________________
known to me and to me known to be the same persons
who executed the foregoing instrument &
acknowledged to me that the same is their free
voluntary act and deed.

WITNESS MY HAND AND NOTARIAL SEAL, on


the date, year and place above-written.

Doc. No. ____;


Page No. ____; NOTARY PUBLIC
Book No. ____;
Series of 2016.