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This DEED, made and executed in the _____________________ Philippines, by and between—

____________________________, of legal age, single/ married to ___________________________________ citizen, and with residence and postal address at ________________________, hereinafter the VENDOR,

— and —

____________________________, of legal age, single/ married to ________________________________  citizen, and  with residence and postal address at _________________________, hereinafter the VENDEE,


WHEREAS, the VENDOR is the owner in fee simple of that certain parcel of land, together with all the buildings and improvements existing thereon, situated at ___________________, and more particularly described in Original/Transfer Certificate of Title No. __________ issued by the Register of Deeds of ___________, as follows:­­­­­­­­­­­­­­­­­­­


(Description appearing in the title)

WHEREAS, the VENDOR has offered to sell and the VENDEE has agreed to buy the above-described properly at a price payable under the terms and conditions herein set forth;

NOW, THEREFORE, for and in consideration of the total agreed purchase price of ________________________________PESOS (P_____________________), Philippine currency, part of which amounting to __________________________________ PESOS (P_________________) has upon the execution of this instrument been paid to the VENDOR by the VENDEE, the said VENDOR does hereby sell, transfer and convey unto the said VENDEE, his/her heirs and assigns the above-described real property, including the buildings and improvements existing thereon, free and clear of any lien or encumbrance, except such as herein  otherwise stated:

That to secure the payment of the aforementioned balance of the purchase price and such other obligations as may arise hereunder, the VENDEE does hereby constitute a first mortgage on the real property above described and object of this sale in favor of the VENDOR, his/her heirs and assigns;

That it is principal condition of this mortgage that if the VENDEE shall well and truly pay or cause to be paid to VENDOR the obligations set forth hereinabove on the dates therein stipulated, then this mortgage shall be of no further force and effect; otherwise, the same shall remain in full force and be subject  to foreclosure in the manner provided by law; and in the latter event, the VENDOR shall have the option to proceed judicially or extrajudicially and in the latter case said VENDOR shall be, as he/she is hereby, appointed attorney-in-fact of the VENDEE with special power of sale, and thereupon proceed to sell the mortgaged property at public auction in accordance with the procedure prescribed by Act 3135, as amended by Act 4118, and out of the proceeds thereof recover the obligations secure by this mortgage and other legal expenses incident to foreclosure, including attorney’s fees in a sum equivalent 10% of the obligations secured but in no case to be less than P___________________.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands at the place first above written on this __________day of ___________________, 20____.

          ______________________             _______________________

                   Vendee                                                Vendor

          TAN ___________                                       TAN ______________


          ______________________             ________________________

                   Wife of Vendee                                 Wife of Vendor


______________________________          ­­­­­­­­_______________________________


Republic of the Philippines                        ]

Province of _____________________________ |SS.

City/ Municipality of ____________________)

BEFORE ME, a Notary Public in and for _____________ City, Philippines, this _____ day of _________________, 20____  personally appeared:

          Name                             Res. Cert.             Date/Place Issued

_________________           ____________          ________________


________________             ____________          ________________


all known to me and to me known to be the same persons who executed the foregoing instrument and they acknowledged  to me that the same is their free and voluntary act and deed.

IN TESTIMONY WHEREOF, I hereunto set my hand and affix my notarial seal on the date and at the place first above written.

Doc No. _______

Page No._______

Book No. ______

Series of 19_____