Date : _____

To: (Home Development Mutual Fund)

RE : Assignment of Contact

Dear _________________:

This notice is in reference to the contract described in the attached

document. (Please see the attachment.)

Please be advised that as of (date of assignment), all interest and

rights under this contract which were formerly owned by (name and
address of assignor) have been permanently assigned to (name and
address of assignee).

Please be advised that all of the obligations and rights of the former
party, the assignor, to this contact are now the responsibility of the
new party to this contract.

(Name and signature of the Assignor)

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 ________________________ _______________________________________, hereinafter called the VENDEE.,
WITNESSETH: THAT-
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. T- _____________
“A parcel of land . . “

TCT No. _____________

A parcel of land . . .
WHEREAS, the above-described properties are presently mortgaged to RCBC SAVINGS BANK to secure
the payment of two loans: the first with an original obligation in the principal sum of P725,000.00
and the second with an original obligation of P953,000.00 contracted by the VENDOR from the
aforenamed mortgagee under the terms and conditions set forth in two instruments of mortgage,
the first one (Loan No. _______________) executed on __________________ and ratified before
__________________________, Notary Public in and for ____________, as per Doc. No. ___________, Page
No. _________, Book No. _________, Series of _______________ of his notarial register and the second
one (Loan No. _________________) executed on _______________________ and ratified before
__________________________, Notary Public in and for ____________, 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 P3,300,000.00 payable in the
manner and form set forth hereinbelow:
NOW, THEREFORE, for and in consideration of the sum of P3,300,000.00, Philippine currency, the
said VENDOR does hereby sell, transfer and convey, in a manner absolute and irrevocable, unto the
VENDEE, her 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 RCBC SAVINGS BANK; and
The VENDEE does hereby accept this sale and binds herself to assume as she hereby assumes the
payment of the unpaid balance of the mortgage in indebtedness of the VENDOR amounting to
P335,336.26 for the first loan and P517,669.59 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 SELLER shall secure the approval of the Mortgagee to the assumption by the BUYER 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 ____________________________.
_____________________ _______________________
TIN: _________________ TIN: __________________
Vendor Vendee
With my marital consent:
____________________
TIN: _______________
Spouse of Vendor

SIGNED IN THE PRESENCE OF:

_____________________ _____________________

ACKNOWLEDGMENT
Republic of the Philippines)
Makati City ) SS.

BEFORE ME, a Notary Public in and for Makati City, Philippines, this ___________________ personally
appeared:
Name: Res. Cert. No./ Date/Place Issued
Passport No.
___________________ _______________ _____________________
___________________ _______________ _____________________

___________________ _______________ _____________________

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 TESTIMONY 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 _________.