J.A.B. Bulao & Associates

For advice on forms, you may contact J.A.B. Bulao & Associates at jabblaw@yahoo.com or send a message to  Cell No. 09155205254. Our Address is at BSA Tower, 108 Legaspi St., Makati City (in front of Greenbelt 5).

DEED OF SALE WITH MORTAGE

KNOW ALL MEN BY THESE PRESENTS:

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,

WITNESSETH: THAT—

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 ______________

WITH OUR MARITAL CONSENT:

          ______________________             ________________________

                   Wife of Vendee                                 Wife of Vendor

SIGNED IN THE PRESENCE OF:

______________________________          ­­­­­­­­_______________________________

ACKNOWLEDGMENT

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_____

SPECIAL POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS:

That I, __________________________, of legal age, single, Filipino citizen and resident of ______________________________________________, do hereby name, constitute and appoint _______________________________, of legal age and resident also of __________________________________, to be my true and lawful attorney-in-fact, for me and in my name, place and stead, to do and perform the following special powers, to wit:

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

_____________________________________________________________

HEREBY GIVING AND GRANTING unto my said attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in and about the premises as fully to all intents and purpose as I might or could do if personally present and acting in person; and

HEREBY RATIFYING AND CONFIRMING all that my said attorney-in-fact shall lawfully do and cause to be done under by virtue of these presents.

IN WITNESS WHEREOF, I have hereunto set my hand at ____________, Philippines, on this ____________ day of ________________, 20______.

____________________

                                                          Principal

Conforme:

______________

          Attorney-in-fact

SIGNED IN THE PRESENCE OF:

____________________________             ___________________________

ACKNOWLEDGMENT

Republic of the Philippines

Makati City                  ) S.S.

BEFORE ME, a Notary Public in and for Makati City, Philippines, this ______________ personally appeared:

Name                             Res. Cert.             Date/Place Issued

_________________           ____________          _________     _______

_________________           ____________          _________     _______

known to me 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 have hereunto set my hand affixed my notarial seal on the date and at the place first above written.

Doc No. _________

Page No._________

Book No. ________

Series of 20____.

For advice on forms, you may contact J.A.B. Bulao & Associates at jabblaw@yahoo.com or send a message to  Cell No. 09155205254. Our Address is at BSA Tower, 108 Legaspi St., Makati City (in front of Greenbelt 5).

ESCROW AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This ESCROW AGREEMENT, made and entered into in the ____________, Philippines, by and between _________________, single/married to ____________, of legal age, _________ citizen, and with residence and postal address at ____________, hereinafter called the VENDOR,

– and –

______________________, single/married to __________________,  of legal age and postal address at _______________, hereinafter called the  ESCROW AGENT.

WITNESSETH: THAT-

WHEREAS, under date of _____________, 20___, the VENDOR executed in favor of the VENDEE for the price of ______________PESOS(P_________), Philippine currency, a deed of sale conveying to the latter certain real property situated in _______ and covered by Original/Transfer Certificate of Title No. ____________, which deed of sale, accompanied with the corresponding owner’s duplicate certificate of title and another pertinent papers, has been delivered in escrow to the ESCROW AGENT, the receipt whereof is hereby acknowledged by the latter;

WHEREAS, under date of ____________, 20_____, in fully payment of the agreed purchase price set forth in said deed of sale, the VENDEE has deposited in escrow to the ESCROW AGENT the sum of ____________PESOS (P_________), Philippine currency, the receipt whereof is likewise acknowledged by the latter; and

WHEREAS, for the final consummation of the above transaction the parties hereto have obligated themselves individually to comply with certain conditions more particularly stipulated hereunder;

NOW, THEREFORE, for and in consideration of the premises, and more specifically the mutual commitments herein set forth, the parties hereto have voluntarily agreed and covenanted as follows:

1. THAT the VENDOR or his duly authorized representative shall take charge of the filing and registration of the aforementioned deed of sale in the proper office of the Register of Deeds after the same shall have been examined by the VENDEE, and, once registration thereof has been accomplished, said VENDOR shall deliver to the ESCROW AGENT a copy of the documents as registered, together with the corresponding certificate of title duly issued in the name of the VENDEE;

1. THAT, upon receipt of the aforementioned title and other papers by the ESCROW AGENT, the latter shall pay to the VENDOR or his duly authorized representative the full amount deposited in escrow, representing the agreed purchase price, and the certificate of title and other pertinent papers turned over to the VENDEE;

1. THAT, if for any reason there should be any legal impediment to bar the registration of the aforementioned deed of sale, it shall be obligation of the ESCROW AGENT to deliver the VENDOR and to the VENDEE all the papers and cash deposit respectively belonging to them held in escrow;

1. (Other conditions and stipulations, if any.)

1. THAT the ESCROW AGENT, cognizant of the foregoing terms and conditions above stipulated, does hereby agree to acts as depository for the VENDOR and the VENDEE, and to discharge the duties and perform the undertaking in accordance therewith; and

1. THAT, the service fee to be due and payable to the ESCROW AGENT in any events shall be for account of the VENDOR.

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

___________________________              ____________________________

Vendee                                                       Vendor

                                      ________________________

                                                Escrow Agent

SIGNED IN THE PRESENCE OF:

_____________________________           _____________________________

ACKNOWLEDGMENT

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 _______

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