DEED OF SALE WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF SALE WITH ASSUMPTION OF MORTGAGE is made

and entered into by and between:

_________________________, Filipino, of legal age, single/married to

__________________, with residence and postal address at
______________________________________ and hereinafter called the
“VENDOR”.

- and -

_________________________, Filipino, of legal age, single/married to

__________________, with residence and postal address at
______________________________________ and hereinafter called the
“VENDEE”.

WITNESSETH:

WHEREAS, the VENDOR is the lawful owner of a parcel of land,

including all the improvements existing thereon, situated at
_____(location of property) and further specified as House Model
__________ with a an area of ____ Square meters, more or less, covered by
Original/Transfer Certificate of Title No. _________ of the Register of
Deeds of _____________, and more particularly described as follows:

Transfer Certificate of Title

No.: ________________

________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

WHEREAS, the above described property is presently mortgaged in

favor of Home Development Mutual Fund (Pag-IBIG Fund);

WHEREAS, the VENDOR has offered to sell and the VENDEE has
agreed to buy the above-described land, with all the improvements
thereon, and assign all his/her/their rights, title and interest over the
property and the VENDEE accepts the transfer and assignment in
accordance with the terms herein set forth;

NOW THEREFORE, the parties hereby agree as follows:

That for and in consideration of the sum of PESOS:

___________________________ (Php_____________) Philippine currency,
receipt whereof is hereby acknowledged by the VENDOR, the said
VENDOR does hereby SELL, TRANSFER and CONVEY, in a manner
absolute and irrevocable, unto the VENDEE, his/her/their heirs and
assigns the real property above-described together with all the
improvements existing thereon, free and clear of all liens and
encumbrances except the mortgage as may be subsisting in favor of Pag-
IBIG fund and
the VENDEE does hereby accept this sale and binds
himself/herself/themselves to assume as he/she/they hereby assumes
the payment of the unpaid balance of the mortgage indebtedness of the
VENDOR in favor of Pag-IBIG fund, and does hereby further agree to be
bound by the precise terms and conditions therein contained.

It is likewise agreed that the capital gains tax, documentary stamp

tax, transfer taxes and other fees/expenses incident to the registration
and transfer of the title to the VENDEE shall be borne by the VENDOR.

The VENDOR hereby authorizes the VENDEE to transact with Pag-

IBIG Fund and/or its assigns with respect to the property as new owners
thereof and the VENDOR hereby confirms that Pag-IBIG fund may
transact with the VENDEE, including the delivery of the original Transfer
Certificate of Title No. ________________ issued by the Registry of Deeds of
__________________. The VENDOR hereby provides notice to Pag-IBIG
fund that they may deal with the VENDEE as the new owner of the
above-mentioned property.

Likewise, this deed serves to release Pag-IBIG fund and/or their

shareholders, directors, officers, agents, employees, representatives, or
successors-in-interest from any claim or cause of action whatsoever
against them with respect to any matter incident to or arising out of the
property or the Loan and Mortgage Agreement and the VENDOR agrees
to hold them harmless from any and all suits or claims in relation to or
arising out of the property, including the delivery of the title to the buyer.

IN WITNESS WHEREOF, the parties have hereunto set their hands

and signed this ___ day of ___________________ at the City of General
Trias, Cavite.

______________________________ ______________________________
Vendor Vendee

TIN NO. _____________________ TIN NO. _____________________

With marital consent: With marital consent:

______________________________ ______________________________

TIN NO. _____________________ TIN NO. _____________________

Signed in the presence of:

______________________________ ______________________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

CITY OF GENERAL TRIAS, CAVITE ) S.S.

BEFORE ME, a Notary Public for and in the City of General Trias,
Cavite, this _____ day of __________________, personally appeared the
following persons:

Name Competent Evidence of

Identity
with no.

______________________________ ______________________________
______________________________ ______________________________
______________________________ ______________________________
______________________________ ______________________________

known to me to be the same persons who executed the foregoing

Deed of Sale with Assumption of Mortgage, which instrument consists of
three (3) pages, including this page on which this acknowledgement is
written and signed at the left margin of each and every page by the
parties executing this instrument and their witnesses and sealed with my
notarial seal and said parties acknowledge to me that the same is their
free and voluntary act and deed.

WITNESS MY HAND AND SEAL on the date and in the place first
above written.

NOTARY PUBLIC

Doc. No. ______;

Page No. ______;
Book No. ______;
Series of 2019.