REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This is a real estate mortgage executed by and between:
NJJS DEVELOPERS INC., a corporation duly organized and existing under the laws of the Philippines,
with principal office at 15th floor Ayala Tower 1, 7500 Ayala Avenue corner Paseo de Roxas Avenue,
Makati City, Philippines, represented by its President, Mr. Michael Edgardo Cruz, herein after referred to
as the MORTGAGOR
MS. BIANCA B. SALVADOR, 25 years old, single, residing at 323 Leviste St. Makati City,
herein after referred as the BUYER.
-andBANK OF THE PHILIPPINE ISLANDS, a corporation duly organized and existing under the laws of
the Philippines, with the principal office at 109 Paseo De Roxas Corner Dela Rosa Street, Makati,
Philippines, represented by its President, Cezar Cosing, hereinafter referred to as the MORTGAGEE
WITNESSETH: That
The MORTGAGOR is the absolute owner of a parcel of land situated at Viridian Tower 31 st Street corner
2nd Avenue, Crescent Park West, Bonifacio Global City, Taguig City with the TCT Title No. 3342543 of
the Registry of Deeds of Taguig City.
Pursuant to the terms of the FIRST LOAN AGREEMENT executed by the MORTGAGOR and the
MORTGAGEE and in order to secure the obligations of the MORTGAGOR in favor of the
MORTGAGEE in the amount of amount of P120,000,000.00 ONE HUNDRED TWENTY MILLION
PESOS, including interest, penalties and other charges accruing, for the following property:

UNIT NO.
5001-A

CCT NO.
004-2013031019

AREA
400 square meters

PARKING SLOT NO.

No. 70 Basement 3

CCT NO.
004-2013030306

AREA
12.50 square meters

(Hereinafter mentioned as UNIT 5001)

In the event that the property is sold to the BUYER, the BUYER shall assume the obligations secured in
UNIT 5001 by way of SUPPLEMENTAL MORTGAGE to the MORTGAGEE, its successors-in-interest
or assignees, except the right granted by the MORTGAGOR under the LEASE/PURCHASE
AGREEMENT executed with its member-beneficiary.
The MORTGAGOR shall not be released from his liability but shall be liable jointly and severally with
the transferee unless expressly released therefrom from writing under existing policy of the
MORTGAGEE.

In case the MORTGAGOR and/or the BUYER violates the terms and conditions of the aforesaid Loan
Agreement or if he fails to perform any of the conditions stipulated herein, the MORTGAGEE may in
addition to whatever legal remedies it may have by law or agreement, declare the obligations secured by
this mortgage due and payable, and upon failure to receive full payment, the MORTGAGEE may proceed
to judicially or extrajudicially foreclose this mortgage.
In case of extrajudicial foreclosure under Act 3135, as amended, the auction shall take place in the city of
Taguig. Effective upon the breach of any condition of this Mortgage, the MORTGAGEE is hereby
appointed as attorney-in-fact of the MORTGAGOR, with full power of substitution and authority to
perform such acts as may be necessary to dispose of the mortgaged property in accordance with the
provisions of Act No. 3135 as amended, and pending such disposition to perform all other acts of
administration and management in the manner most advantageous to and for the best interest of the
MORTGAGEE. This MORTGAGEE hereby reserves its right to bid at the appropriate public auction.
If it becomes necessary for the MORTGAGEE to institute any legal action or proceedings, judicial or
extrajudicial, to enforce this mortgage, the MORTGAGOR shall pay the Mortgagee as attorneys fee a
sum equivalent to at least twenty five percent (25%) of the total amount due plus all expenses of such
action or proceedings.
If the mortgage cannot be recorded in the corresponding Register of Deeds, the obligations secured shall
immediately become due, payable and defaulted.
IN WITNESS WHEREOF, we have set our hands this day of December 2, 2014, at the Taguig City.

MORTGAGOR

BUYER

By: MICHAEL EDGARDO CRUZ

BIANCA SALVADOR

President

MORTGAGEE
By: Cezar Cosing
President

In the Presence of:

Jeff Viaz

Jonathan de Guzman

REPUBLIC OF THE PHILIPPINES )

CITYOF TAGUIG) S.S.
ACKNOWLEDGMENT

On this day, in the City of Taguig before me personally appeared:

Name

Competent Evidence of Identity

MICHAEL
EDGARDO CRUZ

Drivers license No. N024-2345-5543

Place and
Issuance

date

of

Makati January 12, 2014

BIANCA SALVADOR TIN No. 342-573-876-000

CEZAR COZING

TIN No. 543-324-566-000

Makati
2009

February

18,

Makati July 30, 1990

as the parties to the instrument REAL ESTATE MORTGAGE consisting of 3 pages, including this
acknowledgment, and acknowledged that the same was executed in their free act and deed as well as the
corporation that each represents herein.
IN WITNESS WHEREOF, I set unto my hand and affix my notarial seal on the date and place mentioned
above.
NOTARY PUBLIC
Doc. No. 77;
Page No. 144;
Book No. 12;
Series of 2014.