Sample Real Estate Mortgage Agreement Philippines

3.1. The mortgage ensures payment of the loan at the same time as the possibly unpaid interest. 3.3. If the debtor/Mortgagor pays and/or fulfils its obligations arising from this deed, this mortgage no longer has any power and effect. However, if, for whatever reason, the debtor/Mortgagor refuses and/or refuses to pay and/or honour all of his obligations, the creditor/Mortgagee may, at his choice, close the mortgage on the property in court or out of court under the law. 3.4. If the creditor/Mortgagor refers to a lawyer the recovery of an amount due under this mortgage agreement, the debtor/Mortgagor is required to obtain the first 20 per cent (20%) to pay. of the amount owed. This document refers to the mortgage of a property listed in the TCT number of the City`s Register of Deeds and consists of pages that have been signed by the parties and their relevant witnesses. Discussed in: Understanding Mortgage Contracts in the Philippines 3.2. If the term of the loan is extended on the basis of a mutual agreement between the parties, this mortgage is a permanent guarantee for the commitment/debtor/mortgagor to the creditor/mortgage, without the need for a new real estate mortgage contract.

3. The mortgage. – For and taking into account the loan covered in paragraph 2 and as collateral, the debtor/Mortgagor herein constitutes a real estate mortgage on the land in favour of the creditor/mortgage, under the following conditions: [NOM], Filipino, former) age, married and with the address to IN WITNESS WHEREOF, we have laid their hands, which is the condition of that mortgage. that, if MORTGAGOR fulfils the obligation to pay the aforementioned debt of – at the same time as the accrued interest, this real estate mortgage will be discharged within the agreed time and will be immediately cancelled and ineffective, otherwise it will remain fully in force and will remain fully in force and will be subject to enforcement in the prescribed and formal manner. NOW, THEREFORE, for and taking into account the aforementioned debt, and to ensure the performance of this payment obligation, AND DELIVER, through MORTGAGE, transmits to MORTGAGEE, its heirs, successors and in sign, the following ground, as well as all improvements found and present, including: 2.1. The loan is repayable on December 15, 2019 or before December 15, 2019. 5. The parties agree that all legal proceedings relating to this agreement will be brought before the competent courts of the city of Quezon or the city of Makati, to the exclusion of another location.

x — – – – – – – – – x WITNESS my signature and my notarized seal on this ___th day of 2017. – The subject of this contract is a piece of land that is described as follows: _______die parties have their signatures on this ______th day of 2.3. The amounts accrued through the interest payments are also covered by the audits of the P__________ of each P_____________ and the main loan of the P_____________, by a pre-eded examination of December 15, 2019. (individual age /married/widow) and residents of MORTGAGOR; MortGAGOR is indebted to THE MORTGAGEE in the sum of `P__________`, the Philippine currency, whose receipt is recognized by mortGAGOR at the signing of this instrument, payment on order of the MORGAGEE without prior request or termination within a period of `P__________` and on each – and on each – until the full payment, with interest on the price per month.