DEED OF SALE with ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Absolute Sale is made and entered into by and between:

ELMA L. DALE, married, of legal age, Filipino, and a resident of Blk 2,

Lot 4, Silveria Drive, Dumaguete City, Negros Oriental, hereinafter called the
SELLER, and JANET JUMENTO PELICANO, married, of legal age, Filipino,
and a resident of Ajong, Sibulan, Negros Oriental, hereinafter called the BUYER.

WITNESSETH:

That the SELLER is the owner of ONE (1) unit CHANGAN SUV-CS35
PLUS bearing Engine No. JL473ZQ9NM0AD017746; Chassis No.
LS5A3DKR5NA006874; PLATE NO. GAR1432; File No. 0701-00001339619;
COLOR: WHITE with Certificate of Registration No. 235274826;

That the SELLER, desires to SELL, CEDE, TRANSFER, AND CONVEY

his ONE (1) Changan SUV-CS35, as well as the rights and obligations
appurtenant thereto, unto the said BUYER, her heirs and assigns, the above-
described vehicle, in a manner absolute and irrevocable;

That the BUYER is willing to buy and acquire the vehicle under the terms
and conditions set forth herein;

NOW, THEREFORE, for and in consideration of the premises and mutual

covenants herein, the parties hereby agree as follows:

Sale. – Subject hereof, the Seller, for valuable consideration, hereby

unconditionally sells, cedes, transfers, and conveys, and the Buyer hereby
purchases, the Subject vehicle, free and clear from any and all liens or
encumbrances;

Purchase Price. – As full payment for the vehicle, the Buyer shall pay the Seller
the full amount of SIX HUNDRED FIFTY SEVEN THOUSAND TWO HUNDRED
PESOS (₱657,200.00), Philippine currency, and the Seller warrants and
represents that the vehicle is free and clear from any and all liens and
encumbrances, and that she has full power and authority to transfer the same.
The SELLER will warrant and forever defend the same unto the said BUYER, her
heirs, and assigns against any claims of third persons whomsoever;

That the foregoing consideration shall be paid as follows:

a. ONE HUNDRED SEVENTY THOUSAND PESOS (PHP 170,000.00)

actually received by the Seller from the Buyer;

b. TWENTY THREE THOUSAND TWO HUNDRED PESOS (PHP

23,200.00) representing the Vendor’s monthly mortgage obligations and
has been paid on 21 months and the remaining monthly of 39 months
payable on the vehicle to be assumed by the Buyer. In the event that the
Buyer fails to pay three (3) consecutive monthly installments, the Seller
has the right to immediately take possession of the vehicle;

The sale and transfer of the vehicle from the Seller to the Buyer shall be subject
to the following conditions:

a. Buyer shall assume the loan obligations as security therefore, hence

the acquisitions by the Buyer of the vehicle described above is subject
to the bank mortgage lien now and existing therein in favor of the BPI
Bank, Dumaguete City;
 b. The Promissory Note, the Loan and Mortgage Agreement executed by
the Seller in favor of the BPI Bank, Dumaguete City shall bind the
Buyer in the same manner and condition as if they were the original
parties to the said agreements.

IN WITNESS WHEREOF, the parties have hereunto set their hands on

________________________ in the City of Dumaguete, Philippines.

SELLER:

ELMA L. DALE
Driv. Lic. No. G08-21-001090

BUYER:

JANET JUMENTO PELICANO

UMID ID No. CRN-0033-7156373-6

SIGNED IN THE PRESENCE OF:

_________________________ ______________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

City of Dumaguete ) S.S.

BEFORE ME, a Notary Public for and in Dumaguete City, Negros Oriental,
personally appeared the above parties with their competent evidences of identity
under their names respectively.

KNOWN TO ME AND TO ME KNOWN to be the same persons who

executed the foregoing instrument and acknowledged to me that the same is
their free act and voluntary deed. This Deed of Sale consisting of three (3)
pages, including the page on which this instrument is written, has been signed on
the left-hand margin on each and every page thereof by the 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.

Doc. No. _______;

Page No. ______;
Book No._______;
Series of 2024.

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