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    Deed

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    JimBoy Dimaano
    This document is a conditional deed of sale with assumption of mortgage between Reggie Hipolito Palma as the vendor and Linfil Rodrigo Devillena as the vendee for a 2020 Ford Ranger. The vendee agrees to pay 650,000 PHP for the vehicle and assume the mortgage of 20,692 PHP per month until October 2025. Failure of the vendee to pay for two consecutive months will allow the vendor to repossess the vehicle without court intervention and void the agreement. The ownership of the vehicle and registration will only be fully transferred to the vendee upon full payment of the total amortization to the bank.

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    Deed

    Uploaded by

    JimBoy Dimaano
    28 views1 page
    This document is a conditional deed of sale with assumption of mortgage between Reggie Hipolito Palma as the vendor and Linfil Rodrigo Devillena as the vendee for a 2020 Ford Ranger. The vendee agrees to pay 650,000 PHP for the vehicle and assume the mortgage of 20,692 PHP per month until October 2025. Failure of the vendee to pay for two consecutive months will allow the vendor to repossess the vehicle without court intervention and void the agreement. The ownership of the vehicle and registration will only be fully transferred to the vendee upon full payment of the total amortization to the bank.

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    This document is a conditional deed of sale with assumption of mortgage between Reggie Hipolito Palma as the vendor and Linfil Rodrigo Devillena as the vendee for a 2020 Ford Ranger. The vendee agrees to pay 650,000 PHP for the vehicle and assume the mortgage of 20,692 PHP per month until October 2025. Failure of the vendee to pay for two consecutive months will allow the vendor to repossess the vehicle without court intervention and void the agreement. The ownership of the vehicle and registration will only be fully transferred to the vendee upon full payment of the total amortization to the bank.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    28 views1 page

    Deed

    Uploaded by

    JimBoy Dimaano
    This document is a conditional deed of sale with assumption of mortgage between Reggie Hipolito Palma as the vendor and Linfil Rodrigo Devillena as the vendee for a 2020 Ford Ranger. The vendee agrees to pay 650,000 PHP for the vehicle and assume the mortgage of 20,692 PHP per month until October 2025. Failure of the vendee to pay for two consecutive months will allow the vendor to repossess the vehicle without court intervention and void the agreement. The ownership of the vehicle and registration will only be fully transferred to the vendee upon full payment of the total amortization to the bank.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    CONDITIONAL DEED OF SALE WITH ASSUMPTION OF MORTGAGE

    KNOW ALL MEN BY THESE PRESENTS:

    This CONDITIONAL DEED OF SALE WITH ASSUMPTION OF MORTGAGE made executed by and between,
    PALMA, REGGIE HIPOLITO with home address at BLOCK 4 LOT 9 CALABRIA STREET VILLA ROMA
    PHASE 3 SAOG MARILAO BULACAN hereinafter referred to as VENDOR Owner –
    DEVILLENA, LINFIL RODRIGO of legal age with residence and postal address at PUROK 3 PORAC BOTOLAN
    ZAMBALES hereinafter referred to as VENDEE
    WITHNESSETH
    That for and in consideration of the sum of 650,000 Philippine Currency, the receipt whereof is hereby
    acknowledged and confessed in hand, paid to VENDOR by the VENDEE to the formers entire satisfaction, by these
    presents, the VENDOR does hereby CONDITIONALLY SELLS, TRANSFERS and CONVEYS, unto the VENDEE
    his/her heirs and assigns that certain motor vehicle more particularly described as follows:
    MODEL/TYPE 2020 FORD RANGER 2.0L WILDTRAK 4X2 AUTOMATIC
    COLOR SABER
    ENGINE NO. YM2QW081008
    CHASI NO. MNCUMFF40LW081008
    CS NO. / PLATE NO. C3C043
    Of which motor vehicle, the VENDOR is the true and lawful owner EXCEPT THE MORTGAGE with and the
    VENDEE shall continue paying the mortgage of Php 20,692.00 without demand every 20th day of the month starting
    MARCH 2021 until OCTOBER 2025 with loan account number _____________________
    That FAILURE OF THE VENDEE TO PAY in Two (2) CONSECUTIVE MONTHS shall give the VENDOR the right to
    immediately take re possession of the motor vehicle without court intervention, consider this CONDITIONAL DEED OF
    Sale terminated by default.
    Vendee agrees to pay 10% interest of the total monthly amount due for delayed payment or returned
    checks. If in case a Check has returned due to insufficient funds, said check will again be redeposit without due notice to
    the VENDEE. If a CHECK has returned due to a CLOSED ACCOUNT even on its 1 st month or a month due the
    VENDOR will have to pull out the VEHICLE without any court litigation or intervention. Said Vehicle will remain under
    the custody of the VENDOR until such checks have been replaced with well-funded Checks within 15 calendar days and
    accrued monthly balance be paid in full.. After which this agreement is deemed VOIDED and all payments made by
    VENDEE is deemed forfeited in favor of the VENDOR. In such case VENDEE hereby agrees by default that no case can
    be filed against the VENDOR.
    A YEARLY Comprehensive insurance is under the Vendee account to be paid every OCTOBER 10th of the
    following year. The amount is given a month prior to its due date which is being given and mandated by the Bank.
    That only after FULL PAYMENT of the total amortization from the Bank that this agreement becomes
    ABSOLUTE and the Motor Vehicle’s registration and full ownership will be fully transferred to the VENDEE.
    IN WITNESS WHERE OF, we have hereunto set our hand this 18th FEBRUARY 2021

    _______________________________ _______________________________
    PALMA, REGGIE HIPOLITO DEVILLENA, LINFIL RODRIGO
    VENDOR VENDEE

    Signed in presence of:

    _______________________________ _______________________________
    DIMAANO, JIMBOY JOAQUIN LUZANA, RAYMART CANILLO

    REPUBLIC OF THE PHILIPPINES)


    PROVINCE OF _________) S.S
    City/ Municipality of _________)
    Before me, A Notary Public for and in the City/Municipality of __________________appeared
    _______________________and ___________________________made known to me to be the same person who executed
    the foregoing deed of sale of motor vehicle with assumption of mortgage and they acknowledge before me that the same
    is their free and voluntary act and deed.
    Parties and witnesses signed hereof.
    Witness my hand and seal this day ______________________ at ______________________ City.

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