Академический Документы
Профессиональный Документы
Культура Документы
-and-
WITNESSETH:
WHEREAS, the SHFC is the lead government agency that implements the Community
Mortgage Program (CMP) of the national government, the primary objective of which is to assist
residents of blighted or depressed areas to own the lots they occupy, or where they choose to
relocate to, and eventually improve their neighborhood and homes to the extent of their
affordability.
6.7. In case of extrajudicial foreclosure under Act 3135, as amended, the auction
shall take place in the city or the province where any of the mortgaged
property is located. Effective upon the breach of any condition of this
Mortgage, the ACCOMMODATION MORTGAGOR and/or
ACCOMMODATED DEBTOR-MORTGAGOR hereby appoints the
CREDITOR-MORTGAGEE as their attorney-in-fact of, with full power of
substitution and authority to perform such acts as may be necessary to
dispose of the mortgaged property in accordance with the provision of Act
No. 3135 as amended, and pending such disposition to perform all other acts
of administration and management in the manner most advantageous to and
for the best interest of the CREDITOR-MORTGAGEE. The latter hereby
reserves its right to bid at the appropriate public auction.
3
benefits and profits derived from the Mortgaged Property before the sale, less
the cost and expenses of receivership.
6.9. In case of judicial execution of this obligation or any part of it, the venue for
the foreclosure suit is the Regional Trial Court of Makati or elsewhere at the
option of the CREDITOR-MORTGAGEE.
6.14. This Mortgage shall be binding upon the parties herein and their successors-
in-interest and assigns.
4
IN WITNESS WHEREOF, we have hereunto set our hands this _____ day of
_________________ 20____, at ________________________.
SOCIAL HOUSING
FINANCE CORPORATION __________________________
Creditor-Mortgagee Accommodation Mortgagor
______________________ ________________________
President
__________________________
Accommodated Debtor-Mortgagor
By:
___________________________
President
_________________________ ___________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
CITY OF ) S.S.
known to me and to me known to be the same person who executed the foregoing instrument and
acknowledged to same to be their free and voluntary act and deed as well as that of the
corporation herein represented.
This instrument refers to a Real Estate Mortgage over _____ parcel/s of land with all the
buildings and improvement thereon and consisting of five (5) pages, including this page wherein
the Acknowledgment is written, signed by the parties and their witnesses and sealed with my
notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal at
the place on the date abovementioned.
Doc. No.____;
Page No.____;
Book No. ____;
Series of 20___.