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WITNESSETH; That:
The MORTGAGOR is indebted unto the MORTGAGEE in the sum of FOUR MILLION
THREE HUNDRED THOUSAND PESOS (P4,300,000.00), Philippine Currency,
receipt of which is acknowledged by the MORTGAGOR upon the signing of this
instrument, payable to the order of the MORGAGEE without need of prior demand or
notice within a period of ONE (1) YEAR, at _____________ (P__________)
(monthly/weekly/daily) starting on _____________ and on every _____________
thereafter until fully paid, with interest thereon at the rate of 1.2% per month.
That it is the condition of this Mortgage that should the MORTGAGOR perform the
obligation to pay the afore-cited indebtedness of FOUR MILLION THREE HUNDRED
THOUSAND PESOS (P4,300,000.00) together with accrued interest thereon, within the
agreed term, this Real Estate Mortgage shall be discharged and shall at once become
null and void and of no effect whatsoever, otherwise, it shall subsist and remain in
full force and effect and may judicially or extrajudicially, at her option, foreclose the
mortgage on the property in accordance with law foreclosure in the manner and form
prescribed by law.
IN WITNESS WHEREOF, we have have hereunto set their hands, this _____________
at _____________, Philippines.
_____________ _____________
Mortgagor Mortgagee
______________
Mortgagor's Spouse
_________________ __________________
ACKNOWLEDGMENT
Name ID
This document relates to the mortgage of a parcel of land registered under TCT No. T-
_______ of the Registry of Deeds for ___________ 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 _______th day of ______________ 2019.