DEED OF SALE OF MOTOR VEHICLE WITH ASSUMPTION OF

MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Sale of Motor Vehicle with Assumption of Mortgage (hereinafter the “Deed”) was made and
executed by and between:

______________________________, of legal age, married, Filipino, with

residence and postal address at
____________________________________________, hereinafter
called the VENDOR;

-and-

______________________________, of legal age, Filipino, married, with

residence and postal address at
___________________________________________________,
hereinafter called
the VENDEE;

WITNESSETH:

That for and in consideration of the sum of ____________________________ (PhP___________),

wherein the amount of ________________________ (PhP_______) as down payment, and the
remaining balance of ______________________________ (PhP______________), which shall be paid
thru the issuance of postdated checks, are hereby acknowledge from the VENDEE, by and to
the partial satisfaction of the VENDOR, said VENDOR HEREBY SELLS, TRANSFERS and
CONVEYS unto the VENDEE the motor vehicle described as follows:

MAKE
SERIES
TYPE OF BODY
YEAR MODEL
MOTOR NO.
CHASSIS NO.
PLATE NO.
COLOR

of which the VENDOR is the absolute owner;

That the cash down payment of _____________________________ (P_________) as stated

above covers one (1) year insurance up to _______________ while the succeeding annual insurance
renewal shall be for the account of the VENDEE;

That the VENDEE shall bear the yearly registration costs beginning ________________;

That the VENDOR hereby warrants that the said motor vehicle is still under mortgaged with
__________________;

That the VENDEE agreed to pay the remaining balance of ______________________________

(P____________) thru the issuance of ___________ (__) postdated checks in favor of the VENDOR,
upon execution of this document, to cover the monthly payments from ______________ to
_______________;
That each postdated check shall cover the monthly amortization of _______________________ only
(PhP___________), due every _____ day of the month;

That failure on the part of the VENDEE to fund the post dated checks on or before the stated amortization
date, the VENDEE shall be charged with ___% penalty per month;

That in the event that the VENDEE failed to pay the amortization for two (2) consecutive months, the total
outstanding balance, inclusive of penalties, shall be due and demandable.

IN WITNESS WHEREOF, the parties hereby affixes their signature this ____day of ________,
____________ at _____________________City.

_____________________ _____________________
VENDOR VENDEE

SIGNED IN THE PRESENCE OF:

_________________________ _________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

) S.S.

Before me, a Notary Public for and in the above jurisdiction this ___day of _______
personally appeared the following:

Name Competent Evidence of Identity Date/Place of Issue

_____________________ _________________________ _______________________

_____________________ _________________________ _______________________

known to me and to me known to be the same person who executed the foregoing instrument
and acknowledged to me that the same is their true and voluntary act and deed; and the
voluntary act and deed of the sole proprietorship/partnership/corporation herein represented.

Witness my hand and seal on the date and place first above given.

Doc No. ___

Page No. ___
Book No. ___
Series of ____ .