Sample Mortgage Contract

REAL ESTATE MORTGAGE AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Real Estate Mortgage Agreement executed by and between:
JENNEVY B. LOMIBAO, Filipino, of legal age, single and with address at Zone 6, Barangay Tan-ag Ibaba,
Lopez, Quezon, hereafter called the Debtor/Mortgagor;
– And –
REYNALDO A. RELOCANO, Filipino, of legal age, single, and a resident of Zone 6, Barangay Tan-ag Ibaba,
Lopez, Quezon, hereafter called the Creditor/Mortgagee;
W I T N E S S E T H : That –
1. The Property. – The Property subject of this contract is a parcel of land, more particularly
described as follows:
Transfer Certificate Of Title No. 0003620
Registry Of Deeds For Lopez, Quezon
[COPY TECHNICAL DESCRIPTION FROM THE TITLE]
Together with all the improvements thereon, herein collectively referred to as the Property.
2. The Loan. – Debtor/Mortgagor has obtained a loan from the Mortgagee in the sum of Five
Hundred Thousand Pesos (P 500,000.00) subject to the terms and conditions hereunder
prescribed, to wit:
2.1. The loan shall be payable on or before 15 December 2021.
2.2. It shall bear interest at the rate of twelve percent (12%) per annum payable every 15 th day of
the month corresponding to the month for which interest is due.
2.3. The amounts due by way of interest payments shall be covered by [number] (__) postdated
checks of P__________ each and the principal loan of P_____________ shall also be covered by
a postdated check dated 15 December 2019.
2.4. Failure and/or refusal or the Debtor/Mortgagor to pay two (2) consecutive monthly interests
(or when the checks are dishonored) shall automatically make the principal loan of
P________________ due and demandable, together with the unpaid interest, if any.
3. The Mortgage. – For and in consideration of the loan stated in paragraph 2 hereof and by way
of a security therefor, the Debtor/Mortgagor hereby constitutes a real estate mortgage on the
Property in favor of Creditor/Mortgagee, under the following terms and conditions:
3.1. The mortgage shall secure the payment of the loan, together with the unpaid interest, if any.
3.2. In case the maturity of the loan is extended, upon mutual agreement in writing of the Parties,
this mortgage shall be a continuing security for the obligation/s of the Debtor/Mortgagor to the
Creditor/Mortgagee without the necessity of executing a new contract of real estate mortgage.
3.3. If the Debtor/Mortgagor shall well pay and/or comply with his all and every obligation under
this Deed, then this mortgage shall cease to have any force and effect. However, if the
Debtor/Mortgagor shall fail and/or refuse, for any reason whatsoever, to fully pay and/or
comply with all or any of his said obligations, then the Creditor/Mortgagee may judicially or
extrajudicially, at his option, foreclose the mortgage on the property in accordance with law.
3.4. In case collection of any amount due under this mortgage agreement is referred to a lawyer by
the Creditor/Mortgagor, the Debtor/Mortgagor is under obligation to pay the former twenty
percent (20%) of the amount due.
4. Expenses. – Expenses for notarial fees shall be for the account of the Debtor/Mortgagor. All
other expenses for the registration with the appropriate office / the Register of Deeds shall be
for the account of the Creditor/Mortgagee.
5. The parties agree that all court actions concerning this Agreement shall be brought before the
proper courts of Quezon city or the city of Makati to the exclusion of any other venue.
6. If anyone or more of the provisions of this Agreement is declared invalid or unenforceable, in

any respect under any applicable law, the validity, legality or enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired.
IN WITNESS whereof, the Parties affixed their signatures this ______th day of ________________ 2017
in ___________ City.
Signed:
(Mortgagor) (Mortgagee)
Signed in the presence of:
_____________________________ ___________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)

) S.S.
X––––––––––––––––––––––x
BEFORE ME personally appeared:
PERSONS ID
[NAME] Driver’s License No. ___________
[NAME] Driver’s License No. ___________
Presenting their competent evidence of identity, known to me and to me known to be the same persons
who executed the foregoing Real Estate Mortgage Agreement and they acknowledged to me that the
same is their knowing, free and voluntary act and deed.
This document relates to the mortgage of a parcel of land registered under TCT No. _______________ of
the Registry of Deeds for ___________ City and consists of ____ (___) 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 _________ 2017.
Doc. No. ____;
Page No. ____;
Book No. ____;
Series of 2017.
Atty. Francesco C. Britanico

Sample Mortgage Contract

Uploaded by

Copyright:

Available Formats

Sample Mortgage Contract

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Sample Mortgage Contract

Uploaded by

Copyright:

Available Formats

What is the purpose of the document?

What are the terms of the loan?

REAL ESTATE MORTGAGE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Real Estate Mortgage Agreement executed by and between:

Transfer Certificate Of Title No. 0003620

Registry Of Deeds For Lopez, Quezon

[COPY TECHNICAL DESCRIPTION FROM THE TITLE]

6. If anyone or more of the provisions of this Agreement is declared invalid or unenforceable, in

Signed in the presence of:

REPUBLIC OF THE PHILIPPINES)

BEFORE ME personally appeared:

[NAME] Driver’s License No. ___________

[NAME] Driver’s License No. ___________

Doc. No. ____;

Page No. ____;

Book No. ____;

You might also like