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X MORTGAGES
Form No. 2--Real Estate Mortgage Without Separate Promissory Note
(Real Estate
Mortgage Without Separate Promissory Note)
REAL ESTATE MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:
This Real Estate Mortgage, made by
and between:
_____________,
of legal age, (single / married / widow),
and a resident of _____________,
Philippines (hereinafter known as the MORTGAGOR);
- and -
_____________,
of legal age, (single / married / widow),
and a resident of _____________,
Philippines (hereinafter known as the MORTGAGEE);
WITNESSETH; That:
The MORTGAGOR is indebted unto the MORTGAGEE in
the sum of _____________ (P__________),
Philippine Currency, receipt of which is acknowledged by the
MORTGAGOR upon the signing of this instrument, payable to the order
of the MORGAGEE without need of prior demand or notice within a
period of _____________
(years/months/weeks/days), at
_____________ (P__________)
(monthly/weekly/daily) starting on
_____________
and on every _____________
thereafter until fully paid, with interest thereon at the
rate of _____________ (______%)
percent per (month/annum).
NOW, THEREFORE, for and consideration of
the afore-mentioned indebtedness, and to assure the performance of
said obligation to pay, the MORTGAGOR does hereby
convey and DELIVER by
way of MORTGAGE unto the MORTGAGEE,
(his/her) heirs, successors and assigns, the following
parcel of land, together with all the improvements found and
standing thereon, more particularly described as follows:
(Technical Description of Property)
That it is the condition of this Mortgage that
should the MORTGAGOR perform the obligation to pay the afore-cited
indebtedness of _____________
together with accrued interest thereon, within the agreed term, this
Real Estate Mortgage shall be discharged and shall at once become
null and void and of no effect whatsoever, otherwise, it shall
subsist and remain in full force and effect and be subject to
foreclosure in the manner and form prescribed by law.
IN WITNESS WHEREOF, we have have hereunto
set their hands, this _____________
at _____________,
Philippines.
MORTGAGOR MORTGAGEE
With my Marital Conformity:
Mortgagor's Spouse
SIGNED IN THE PRESENCE OF:
__________________ __________________
(ACKNOWLEDGMENT)
Form No. 3--Release of Mortgage
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