DEED OF SALE WITH ASSUMPTION OF MORTGAGE

 
KNOW ALL MEN BY THESE PRESENTS:
 
PRINCESS RACHEL ORBASE BALBIDO, legal age, Filipino citizen and with postal and residence
address at 919-C San Antonio St. San Andres Malate Manila PHL 1004, hereinafter referred to as the
“SELLER/VENDOR”;
-AND-
 
        _________________________________________________, of legal age, Filipino, and with residence and
postal address at ___________________________________, hereinafter referred to the "BUYER/VENDEE"

WITNESSETH; 
 
        WHEREAS, the SELLER/VENDOR is the absolute and registered owner of a real estate property
consisting of a LOT AREA OF ONE HUNDRED (100) SQUARE METERS located at LANCASTER NEW
CITY, SOMERSET 9 BLOCK 09 LOT 41 BRGY. PASONG CAMACHILE 1, GEN. TRIAS, CAVITE, and
covered by Transfer Certificate of Title No. 057-2016073569;

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER /VENDOR has agreed to sell

the above-mentioned property under the terms and conditions herein below set forth;
 
THAT the said property is mortgaged by the SELLER in favor of BDO UNIBANK INC. as evidenced by
the DEED OF MORTGAGE

        NOW THEREFORE, for and in consideration of the total sum of ________________________________

(PHP _________________) the VENDOR hereby SELLS, TRANSFER AND CONVEYS by way of Deed of
Sale and Assumptions of Mortgage, all their proprietary rights and interest over the said property including
improvement thereon, in favor of BUYER, their heirs, assigns and/or successors-in-interest under the following
terms and conditions: 
 
1. The total consideration shall be ______________________________________ (Php: ____________)
Pesos, Philippine Currency, which shall be paid under the following terms and conditions:

1.1 Down Payment of the CASH AMOUNT of _____________________________ (P______________)

PESOS shall be paid to the SELLER/VENDOR under the following terms and conditions:

a. First Payment: _________________________ (P_______________) PESOS upon signing of this

Contract and upon presentation of the documents mentioned under 2.1 of paragraph 2.

b. Balance: ________________________ (P_____________) PESOS payable in _______ (__)

monthly installments with the first (1st) monthly installment to commence on ______________

1.2 The DIFFERENCE AMOUNT which is the REMAINING BANK LOAN BALANCE in the amount
of __________________________________________ (________________) and is being paid at
EIGHTEEN THOUSAND NINESEVEN PESOS 73/100 (P18, 097.73) monthly for a period of
______________________ (_____________) YEARS shall be assumed by the BUYER/VENDEE and
shall be paid to the BDO. Where the property has been mortgaged;

2. DOCUMENTS NEEDED AND OR REQUIRED:

2.1. During signing of this Deed of Sale with assumption of mortgage:

a. Contract to Sell executed between PRO-FRIENDS, INC. and the SELLER;
b. Notarized Special Power of Attorney issued by the SELLER in favor of the BUYER for whatever
purposes ___________________________
c. Open Deed of Absolute Sale signed by the SELLER and BUYER;
d. Other documents required and/or necessary for the transfer of the title to the BUYER

3. The BUYER shall transfer possession of the above property to the SELLER upon execution of this
contract. Thus allowing vendee to move-in in the property.
4. The SELLER shall likewise assist, cooperate, execute and or deliver any and all documents necessary for
the release of the title from the bank upon full payment, as well as the transfer of ownership from SELLER
to BUYER.
5. That the herein parties have understood the advantages, disadvantages as well as the risk involve in
selling/buying a property thru assume balance, but nevertheless hereby enters into this contract voluntary
and willingly.
6. Should any provision of this contract be declared by the court to be null and void, the nullity shall not affect
the validity of this transaction or any provision herein which shall then be considered as valid and binding
between parties herein
8. A Deed of absolute Sale shall be executed upon full payment to mortgagee;

9. The SELLER will only shoulder or update the maintenance dues and monthly amortization past due up to
_________________.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this _____ day of _________ 20__
at Makati City, Philippines.
 
         
PRINCESS RACHEL ORBASE BALBIDO
Seller/Vendor

_______________________________ ______________________________
Buyer/Vendee Buyer/Vendee

SIGNED IN THE PRESENCE OF:

__________________________               ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________) SS.

BEFORE ME, a Notary Public, this ______ day of __________ 20__, personally appeared the following:
 
Name GOVT ID
PRINCESS RACHEL ORBASE BALBIDO CRN: 0111-6332990-2
_____________________________________ __________________
_____________________________________ __________________

This instrument, consisting of 2 page/s, including the page on which this acknowledgment is written, has been
signed on the left margin of each and every page thereof by the concerned parties and their witnesses, and sealed
with my notarial seal.
 
IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place above written.
 

 Notary Public
                               
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__