PROMISSORY NOTE

WITH REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This REAL ESTATE MORTGAGE, made and executed in Naval, Biliran, Philippines
on _____ day of ___________________,by and between:

___________________________, of legal age, Filipino citizen, married to

_________________________, with residence and postal address at
____________________________________________, hereinafter referred to as the
“MORTGAGOR”,

-in favor of–

_____________________, of legal age, married to

_______________________, with residence and postal address at
_____________________________, hereinafter referred to as the “MORTGAGEE.”
WITNESSETH:

THAT for value received, the MORTGAGOR promises to pay the MORTGAGEE the
sum of PESOS: ONE MILLION PESOS (Php1,000,000.00) within _______ (____) year
from date hereof, with interest thereon at ________ percent (______) per month, until
the principal is fully paid.

THAT the MORTGAGOR, as security for the prompt payment of said loan hereby
transfers and conveys, by way of mortgage, unto the MORTGAGEE, his heirs, assigns
and successors, a parcel of land, with improvements thereon, registered under his
name, which property is particularly described as follows (the “Mortgaged Property”):

TRANSFER CERTIFICATE OF TITLE NO. _______

TECHNICAL DESCRIPTION

THAT if any time the MORTGAGOR fails or refuses to pay the obligation herein
secured, or to comply with any of the conditions and stipulations herein agreed, then all
the obligations of the MORTGAGOR secured by this mortgage shall immediately become
due, payable and defaulted and the MORTGAGEE may immediately foreclose this
mortgage judicially in accordance with the Rules of Court, or extra-judicially sell the
Mortgage Property under Act 3135, as amended. For the purpose of extrajudicial
foreclosure, the MORTGAGOR hereby appoints the MORTGAGEE as his Attorney-in-Fact
to sell the Mortgaged Property under Act 3135, as amended, to sign all documents and
perform any act requisite and necessary to accomplish said purpose and to appoint its
substitute Attorney-in-Fact with the same powers as above specified. However, if the
MORTGAGOR shall pay the MORTGAGEE the obligations secured by this mortgage,
together with interests, penalty and other expenses on or before the date they are due,
then this mortgage shall be null and void; otherwise, it shall remain in full force and
effect.
 IN WITNESS WHEREOF, the parties hereto attached their signatures on the date
and place first above-written.

________________________ ________________________
Mortgagor Mortgagee

With my marital consent:

________________________
Wife

SIGNED IN TE PRESENCE OF:

___________________________ ___________________________

ACKNOWLEDGMENT

Republic of the Philippines )

) S.S.

BEFORE ME, this _______ day of _________________________, 2017, at the

_________________________ Philippines, personally appeared, the following:

NAME VALID GOV’T IDs

known to me and to me known to be the same persons who executed the foregoing
instrument, and acknowledged that the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL.

NOTARY PUBLIC
Until December 31, 20_____

Doc. No. ______

Page No. ______
Book No. ______
Series of 2017.