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WITNESSETH:
2. That this real estate mortgage is given as security for the payment to the
MORTGAGEE of a loan dated _________________ for the sum of
_________________________________ (Php ______________), PROVIDED,
HOWEVER, that if said ________________shall pay or cause to be paid to said
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_____________________his heirs or assigns, the said sum within the period of
_____________________ from and after the execution of this MORTGAGE
together with the interest thereon at the rate of ______________________, this
MORTGAGE shall be discharged and of no effect; OTHERWISE, it shall
remain in full force and effect and shall be enforceable in the manner
provided for by law.
3. That in case of default of payment, the MORTGAGEE can seek the remedy of
EXTRA-JUDICIAL FORECLOSURE after a notice of demand has been served
to the MORTGAGOR.
____________________ ____________________
Mortgagor Mortgagee
____________________ ____________________
ACKNOWLEDGEMENT
Name ID
____________________________ ___________________________________
____________________________ ___________________________________
Known to me and to me known to be the same persons who executed the foregoing
instrument and acknowledged to me that the same is their free and voluntary act and
deed.
WITNESS MY HAND AND SEAL, on the date and place first above written.
Notary Public
Doc. No.______;
Page No. ______;
Book No.______;
Series of 20__.
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