KEDSER LOAN SERVICE

Rm. 110 Synita Bldg., Kayang St.

Baguio City, Philippines
Tel. No. (074) 442-0821

REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:
This Real Estate Mortgage made and executed by:
____________________________________________________, of legal age, Filipino citizen, single/married to
__________________________________________________, also of legal age, Filipino citizen, and both residents of
________________________________________________________________, herein referred to as the MORTGAGOR/S
in favor of
KEDSER LOAN SERVICE, a company duly organized and existing under and by virtue of the laws of the
Philippines, with principal office and place of business at Rm 110 Synita Bldg., Kayang Street, Baguio City,
represented by its Financial Adviser, JUANITA C. AYOCHOK, of legal age, married, Filipino citizen, a resident of No.
196 Upper Pinget, Baguio City, herein referred to as the MORTGAGEE
WITNESSETH THAT:
For and in consideration of the loan of Pesos _____________________________________________________________
(PhP_____________________), obtained from the MORTGAGEE as evidenced by the Promissory Note dated
__________________________, a copy of which is hereto attached as Annex A and made an integral part hereof, and
to secure the payment of the same, the MORTGAGOR/S does/do hereby transfer and convey by way of Real Estate
Mortgage unto the MORTGAGEE that certain parcel/s of land, together with all the buildings and improvements
now existing or which may hereafter be erected or constructed thereon, more particularly described as follows:

of which the MORTGAGOR declares that he/she/they is/are the absolute owner/s thereof. However, if the
MORTGAGOR/S shall pay to the MORTGAGEE the obligation secured by this Real Estate Mortgage when due,
together with the stipulated interest and the penalties, and keep and perform all the covenants and agreements
herein contained for the MORTGAGOR/S to keep and perform, then this mortgage shall be void; otherwise it shall
remain in full force and effect.
This Mortgage is constituted under the following conditions:
1.

During the term and existence of this Mortgage, the MORTGAGOR/S shall not sell, mortgage, or in any
other way encumber or dispose of the property/ies herein mortgaged without the written consent of the
MORTGAGEE. The MORTGAGOR/S shall duly pay and discharge, at their maturity, all lawful taxes or
assessments levied or assessed upon the mortgaged property/ies.

2.

The MORTGAGOR/S shall furnish all documentary stamps necessary for this transaction and pay all fees
for the preparation and registration of this document and the documents connected herewith; and in
default thereof, the MORTGAGEE may, at its option, furnish such documentary stamps and pay such
preparation and registration fees, and any and all sums paid by such MORTGAGEE shall be repayable on
demand with legal interest thereon, the repayment thereof to be likewise secured by this Mortgage.

3.

The MORTGAGOR/S shall commit no waste upon the mortgaged premises and shall suffer no part thereof
to be expropriated by the National or by any Provincial or Municipal Government, or other entity or

persons, without applying the entire proceeds therefrom, or so much thereof as may be necessary to the
liquidation of the indebtedness herein and hereby secured.
4.

In case of default on the part of the MORTGAGOR/S to pay his/her/their obligation on the due date
mentioned in Annex A hereof, then the MORTGAGEE shall have a right, at its election, to foreclose to
foreclose this mortgage either judicially or extra judicially, and to that end, the MORTGAGEE is hereby
appointed attorney-in-fact of the MORTGAGOR/S, with full power of substitution to enter upon and take
possession of the mortgaged property/ies without need of any order of any court or any authority other
than that herein granted, and to sell and dispose of the same to the highest bidder at public auction after
publication of notice, in accordance with the provisions of Act No. 3135 of the Philippine Legislature. In
such case and until the mortgaged property/ies is sold, the MORTGAGEE is authorized: (a) to hold and
retain possession of the of said property/ies; (b) to collect all rents due on the same and apply such rents
to the payment of the indebtedness hereby secured; and (c) to perform all other acts of administration and
management in the most and advantageous manner for the best interest of the MORTGAGEE.

In case of sale pursuant to the provisions of this paragraph, such sale, whether made to the MORTGAGEE
or any other person or persons, the MORTGAGEE is hereby expressly authorized and empowered at such sale to
execute and deliver, on behalf of the MORTGAGOR/S or in his/her/their name/s and stead, such deed of
conveyance as may be necessary or proper for the purpose of vesting in the purchaser at such sale full, complete
and absolute title to the property/ies so sold, free from all liens and encumbrances whatsoever.
The proceeds of the sale of the mortgaged property/ties shall be applied in the following order:
(a) to the payment of the expenses and costs of the foreclosure and sale, including the attorneys fees as
provided in Annex A hereof;
(b) to the satisfaction of all interests and charges accruing upon the obligation herein and hereby secured;
(c) to the satisfaction of the principal amount of the obligations herein and hereby secured;
(d) to the satisfaction of all other obligations owing by the MORTGAGOR/S to the MORTGAGEE; and
(e) the balance, if any, to be delivered and paid to the MORTGAGOR.
5.

The MORTGAGEE may be a bidder at the sale of the property/ies hereby mortgaged to it whether under
foreclosure proceedings, or under the powers of sale herein provided, or otherwise.

6.

Should the MORTGAGEE become involved in any litigation which may have relation with any or all the
properties mortgaged by virtue of this instrument, all expenses of the MORTGAGEE in such litigation,
including a reasonable amount for attorneys fees to be determined by the MORTGAGEE, shall be paid by
the MORTGAGOR and this mortgage shall stand as security thereof.

7.

Effective upon the breach of any condition of this Mortgage, and in addition to the remedies herein
stipulated, the MORTGAGEE is hereby appointed attorney-in-fact of the MORTGAGOR/S with full power
and authority to take actual possession of the mortgaged property/ies without the necessity of any judicial
order or any other permission or power; to remove, sell or dispose of the mortgaged property/ies or any
building or improvement in, on or attached to it belonging to the MORTGAGOR/S, or take any other legal
action that may be deemed necessary; to lease any of the mortgaged property/ies and collect rents therefor;
to execute bills of sale, leases or agreements that may be deemed convenient; to make repairs or
improvements on the mortgaged property/ies, and pay the same and perform any other act which the
MORTGAGEE may deem convenient for the proper administration of the mortgaged property/ies. The
payment of any expenses advanced by the MORTGAGEE in connection with the purpose indicated is also
guaranteed by this mortgage. Any amount received from the sale, disposal or administration of the
mortgaged property/ies may be executed by the MORTGAGEE by virtue of these powers and is hereby
ratified.

8.

All correspondence relative to this mortgage, including demand letters, summons, subpoenas, or
notifications of any judicial or extrajudicial action shall be sent to the MORTGAGOR/S at _________________
___________________________________________________ or at the address that may hereafter be given in
writing by the MORTGAGOR/S to the MORTGAGEE. The mere act of sending any correspondence by mail
or by personal delivery to the said address shall be valid and effective notice to the MORTGAGOR/S for all
legal purposes, and the fact that any communication is not actually received by the MORTGAGOR/S, or
that it has been returned unclaimed to the MORTGAGEE, or that the MORTGAGOR/S is/are not known at
the address given, or that the address is fictitious or cannot be located, shall not excuse or relieve the
MORTGAGOR/S from the effects of such notice.

9.

If this mortgage cannot be recorded in the corresponding registry of deeds, the obligations herein secured
shall immediately become due, payable and defaulted.

10. In case of judicial execution of this obligation or any part of it, the MORTGAGOR/S waive/s all
his/her/their rights under the provisions of Rule 39, Section 12 of the Rules of Court.
11. This Real Estate Mortgage shall be effective and binding upon the parties hereto, their heirs, successors
and assigns.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands this _______ day of _____________
200____ in the City of Baguio, Philippines.

_______________________________________
Mortgagor

KEDSER LOAN SERVICE

_______________________________________
Mortgagors Spouse

JUANITA C. AYOCHOK

By:

Signed in the presence of:

_________________________________________

_________________________________________

CERTIFICATION
I/We, the MORTGAGOR/S, hereby certify that there exists no other transaction or document affecting the
above-described property/ies, which has been previously presented for but presently pending registration in the
Office of the Register of Deeds of _________________________________________. I/We further certify the foregoing
mortgage is made for the purpose of securing the obligation specified in the conditions thereof, and that the same
is not entered into for the purpose of fraud.

_______________________________________
Mortgagor

KEDSER LOAN SERVICE

_______________________________________
Mortgagors Spouse

JUANITA C. AYOCHOK

By:

Signed in the presence of:

_________________________________________

_________________________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
DONE: IN THE CITY OF BAGUIO)S.S.
BEFORE ME, a Notary Public for and in the City of Baguio, Philippines, personally appeared:
Name
_________________________________
_________________________________
_________________________________
_________________________________

TIN #
______________________
______________________
______________________
______________________

Comm. Tax Cert. #

________________________
________________________
________________________
________________________

Date & Place of Issue

____________________________
____________________________
____________________________
____________________________

all known to me to be the same persons who executed the foregoing instrument acknowledging to me that the same
is their free, true and voluntary act and deed.
This instrument refers to a REAL ESTATE MORTGAGE consisting of _____________ pages including this
page on which this acknowledgment is written, signed by the parties and their instrumental witnesses on each and
every page hereof.
WITNESS MY HAND AND SEAL this ________ day of __________________________ 200____ in the City of
Baguio, Philippines.

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