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DEED OF SALE WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED, made and executed in ________________, Philippines, by and between:

______________________ married to __________________, of legal age, Filipino Citizens and


with residence and postal address at
_____________________________________________, hereinafter called the VENDOR.

and

_______________________, of legal age, single, Filipino Citizen, and with residence and
postal address at ___________________________________________________________, and
hereinafter called the VENDEE.,

WITNESSETH:

WHEREAS, the VENDOR is the owner of certain parcels of land with all the
improvements existing thereon, situated at Molino, Bacoor, Cavite, specifically
described as follows:

TCT No. ___________

TCT No. _____________

WHEREAS, the above-described properties are presently mortgaged to BDO


BANK to secure the payment of two loans: the first with an original obligation in the
principal sum of PHP 500,000 and the second with an original obligation of PHP
300,000.00 contracted by the VENDOR from the aforenamed mortgagee under the
terms and conditions set forth in two instruments of mortgage

Loan No. _______________ executed on __________________ before


__________________________, Notary Public for and in __________________, as per Doc. No.
___________, Page No. _________, Book No. _________, Series of _______________ of his notarial
register and

Loan No. _________________) executed on _______________________ before


__________________________, Notary Public for and in ____________, as per Doc. No. ___________,
Page No. _________, Book No. _________, Series of _______________.
WHEREAS, the VENDOR has offered to sell and the VENDEE has agreed to buy
the above-described parcels of land with all the improvements thereon for the total
price of TEN MILLION PESOS (PHP 10,000.00.00) payable in the manner and form
set forth hereinbelow:

NOW, THEREFORE, for and in consideration of the sum of TEN MILLION


PESOS (PHP 10,000.000.00), Philippine currency, the said VENDOR does hereby sell,
transfer and convey, in a manner absolute and irrevocable, unto the VENDEE, his
heirs and assigns the real property above described together with all the
improvements existing thereon, free and clear of all liens and encumbrances
excepting the mortgagee as may be subsisting in favor of BDO Bank; and

In addition to the contract price of TEN MILLION PESOS (PHP 10,000,000.00)


The VENDEE binds himself to assume as she hereby assumes the payment of the
unpaid balance of the above-described mortgage in indebtedness of the VENDOR
amounting to FIVE HUNDRED THOUSAND PESOS for the first loan and THREE
HUNDRED THOUSAND PESOS for the second loan as of this date in favor of the
aforenamed mortgagee and does hereby further agree to be bound by the precise
terms and conditions therein contained.

The VENDOR shall secure the approval of the Mortgagee to the assumption
by the VENDEE of the mortgages over the subject parcels of land.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands at
the place first above written, on this __________________ at ____________________________.

_____________________ _______________________
VENDOR VENDEE

With my marital consent:

_____________________________

SIGNED IN THE PRESENCE OF:

_____________________ _____________________

ACKNOWLEDGMENT

Republic of the Philippines)


Metro Manila )

BEFORE ME, a Notary Public in and for Metro Manila, Philippines, this
___________________ personally appeared the following who presented to me their
__________ IDs as valid and acceptable proof of their identity.

_______________________________________________________________________________________________
_______________________________________________________________________________________________

known to me to be the same persons who executed the foregoing instrument and
she acknowledged to me that the same is their free and voluntary act and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial


seal on the date and at the place first above written.

Doc. No. _______;


Page No. _______;
Book No. ______;
Series of 2017.

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