Republic of the Philippines)

Province of Bulacan ) S.S

DEED OF SALE OF MOTOR VEHICLE

WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This deed made and entered into by and between:

VIRGINIA JOVEN LICARDO, of legal age, married with residence and postal
address at Tierra de Sta. Maria, Pulong Buhangin, Sta. Maria, Bulacan, hereinafter
referred to as the FIRST PARTY;
and

ISAGANI MALLE DIMAPILIS, likewise of legal age, married, with residence

and postal address at Green Valley, Pulong Buhangin, Sta. Maria, Bulacan, hereinafter
referred to as the SECOND PARTY;

WITNESSETH:

Whereas, the FIRST PARTY is the true and absolute owner of one motor vehicle
more particularly described as follows:

MAKE : HYUNDAI FILE NO. : 1301-00000664349

YEAR/MODEL: 2016 CHASSIS NO. : KMHCT41UAGU100036
CS NO. : MP 4348 ENGINE NO. : D4FBGU617482

Whereas, said motor vehicle is currently mortgaged with Philippine Savings

Bank, the FIRST PARTY has already paid the monthly installments for 33 months; hence
at present there is still has an outstanding balance of 26 months amounting in FIFTEEN
THOUSAND PESOS (P15,000.00);

Whereas, the FIRST PARTY is desirous of selling the aforesaid motor vehicle
and the Vendee is likewise willing to purchase the same;

Whereas, considering that said vehicle is presently mortgaged, upon signing of

this deed, the SECOND PARTY shall assume the FIRST PARTY obligation pertaining
to said mortgage;

NOW, THEREFORE, for and in consideration of the sum of FOUR

HUNDRED NINETY THOUSAND PESOS (P490,000.00), Philippine Currency,
the FIRST PARTY hereby agrees to ASSIGN and TRANSFER unto said
SECOND PARTY, all my rights, interest and participation in the said motor
vehicle, under the following terms and conditions:

·0 THAT the aforementioned consideration shall be paid by the

SECOND PARTY to the FIRST PARTY in the following manner:

·1 The amount of FOUR HUNDRED FIFTY THOUSAND PESOS

(P150,000.00) by way of down payment shall be paid at the
time of execution of this document;
·2 That SECOND PARTY will shoulder the remaining
amortization of the car loan obtained by the FIRST PARTY from
Philippine Savings Bank in the amount of FIFTEEN
THOUSAND PESOS (P 15,000.00) by installment per month.
·3 That upon full payment the Deed of Absolute Sale and all
Transfer documents required by LTO shall be accomplish upon
the full payment of the whole purchased price.
·4 That if the SECOND PARTY fails to pay the monthly
installment for two consecutive months or more than two
consecutive months the FIRST PARTY shall have the option to
cancel or rescind this agreement without need of Court order and the
previous payments of the SECOND PARTY shall be declared
forfeited.
·5 That the SECOND PARTY shall be responsible for the payment of
Comprehensive Insurance and maintenance expenditures;
IN WITNESS WHEREOF, we have hereunto set our hand this
____________________ at Sta. Maria, Bulacan.

___________________________
___________________________
VIRGINIA JOVEN LICARDO ISAGANI MALLE
DIMAPILIS
Vendor Vendee

SIGNED IN THE PRESENCE OF:

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

PROVINCE OF BULACAN ) S.S.

Before me appeared personally _______________ on this ____________________,

showing their identification documents, the following:
Name ID No. / Issued by Date/Place
of Issue
Gracelyn C. Dela Cruz C07-09-001394/ LTO
Ronaldo F. Delos Reyes

Known to me to be the same persons who executed the foregoing DEED OF SALE OF
MOTOR VEHICLE WITH ASSUMPTION OF MORTGAGE, and they
acknowledge the same as their free act and deed.

This instrument consists of two (2) pages upon which this acknowledgement is written.
WITNESSMY HAND AND SEAL on this ____________________at Sta. Maria,
Bulacan.

Doc No. _____

Page No. _____
Book No. _____
Series of 2 0 1 7