DEED OF SALE WITH MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF SALE WITH MORTGAGE, made and executed by and between (Full name of vendor), Filipino, of legal age, single (or married to ______________), with residence and post-office address at ___________________, hereinafter called the VENDOR-MORTGAGEE, and (Full name of vendee), Filipino, of legal age, single (or married to ______________), with residence and post-office address at ____________________, hereinafter called the VENDEE-MORTGAGOR, Witnesseth:

That the VENDOR-MORTGAGEE is the owner in fee simple of a certain parcel of land together with all the buildings and improvements thereon, situated in ___________, his title thereto being evidence by Transfer (or Original) Certificate of Title No. _____ of the Registry of Deeds of ____________ which land is more particularly described as follows, to wit:

(Description of land)

That for and in consideration of the sum of __________ PESOS (P_________), Philippine currency, of which amount the sum of ____________________ PESOS (P________) has been paid by the VENDEE-MORTGAGOR and receipt whereof is hereby acknowledged by the VENDOR-MORTGAGEE, the said VENDOR-MORTGAGEE does hereby SELL, TRANSFER, and CONVEY unto the said VENDEE-MORTGAGOR the above-described real estate together with all the buildings and improvements thereon, free from all liens and encumbrances whatsoever;

That it is hereby agreed and stipulated that the UNPAID BALANCE of _______________ PESOS (P_______), Philippine currency, of which amount the sum of __________________ PESOS (P_________) shall be paid by the VENDEE-MORTGAGOR to the VENDOR-MORTGAGEE at the latter’s residence, as follows, to wit:

(here state manner of payment)

That, in order to guarantee the fulfillment of the above obligations, the VENDEE-MORTGAGOR does hereby MORTGAGE unto the VENDOR-MORTGAGEE, his heirs and assigns, the real estate herein above described, together with all the buildings and improvements thereon, under the express stipulation that if the said VENDEE-MORTGAGOR shall well and truly pay or cause to be paid unto the VENDOR-MORTGAGEE the aforesaid obligations, then this MORTGAGE shall be of no further force and effect; otherwise, the same shall remain in full force and effect and shall be enforceable in the manner prescribed by law.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands this ______ day of _________, 20 _____, in ______________, Philippines.

Signed in the presence of:

REPUBLIC OF THE PHILIPPINES)

CITY/MUNICIPALITY OF ______) SS.

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in the (Province/City/Municipality) of _____________, personally appeared _____________ with Community Tax Certificate No. _____________ issued on _____________ at _____________ (and Tax Identification No. (T.I.N.) _____________), known to me and to me known to be the same person who executed the foregoing instrument which (he/she) acknowledged to me as (his/her) free and voluntary act and deed, consisting of only ______ (____) page/s, including this page in which this Acknowledgement is written, duly signed by (him/her) and (his/her) instrumental witnesses on each and every page hereof.

WITNESS MY HAND AND SEAL this _____________ at _____________, Philippines.

NOTARY PUBLIC

Doc. No. ______;

Page No. ______;

Book No. ______;

Series of ______;