Deed of Sale With Assumption of Mortgage

DEED OF SALE WITH ASSUMPTION OF MORTGAGE
KNOWN ALL MEN BY THESE PRESENTS:
This DEED made and executed in____________________________________________________

by and between:
AMBERNE B. HABLO, Filipino, of legal age, single, with residence at San Juan St., Purok Tambi-
Palad, Brgy. 10, Bacolod City, Negros Occidental, herein referred to as the VENDOR.
-and-
ALVIN S. ERNAL and KATHERINE N. ERNAL, Filipino, of legal age, married, with residence at Villa
Villeta, Brgy. Estefania, Bacolod City, Negros Occidental, herein referred to as the VENDEE.
WITNESSETH: THAT –
WHEREAS, the VENDOR has availed of housing loan for

___________________________________________________________ (P___________________).
Under the Pag-Ibig Fund.
WHEREAS, as security for said loan, the VENDOR has executed a first real estate/mortgage over
a certain parcel of house and lot together with the house improvements constructed thereon covered
by TCT/CCT No. 092-2018007493 of the Registry of Deeds for BACOLOD CITY NEGROS OCCIDENTAL in
favor of ________________________ (Originator), by virtue of the Loan and Mortgage Agreement
(LMA) entered in the Notarial Public ___________ and docketed as Doc. No._______; Page
No._________;
Book No. __________; Series of 20_______, copy of which is hereto attached as “ANNEX A”;
WHEREAS, PAG-IBIG FUND purchased the aforesaid mortgage from

__________________________________________________________________________________
(Originator), as evidenced by the Purchase of Loan Agreement entered in the Notarial Register of Notary
Public ____________________, and docketed as Doc No. ___________; Page No ___________: Book
No.__________; Series of 20_______, a copy of which is hereto attached as “ANNEX B”;
WHEREAS, the VENDOR desires to sell, cede, convey and transfer absolutely in favor of the
VENDEE all his/her rights and interests over the Property and the VENDEE is willing to buy the same
subject to the existing mortgage constitute over the Property;
NOW, THEREFORE, for and in consideration of the foregoing premises, the parties
hereto agree as follows:
1) For and in consideration of EIGHTY THOUSAND PESOS ONLY(P80,000.00), VENDOR by these presents
hereby transfers and conveys unto VENDEE all his/her rights and interests in and over the property
described in Transfer Certificate of Title No.092-2018007493 of the Registry of Deeds for BACOLOD
CITY NEGROS OCCIDENTAL including all the improvements thereon, as follows:
TRANSFER CERTIFICATE OF TITLE NO.092-2018007493
2) The foregoing consideration shall be paid as follows:

a) ______________________________________________________________________________
(P______________________) actually received by the VENDOR from the VENDEE.
b) ______________________________________________________________________________
(P______________________) representing the VENDOR’s outstanding mortgage obligations on
the property to be assumed by the VENDEE.
3) The sale and transfer of the Property from the VENDOR to the VENDEE shall be subject to the
following conditions:
a) VENDEE and his co-borrower/s shall assume the loan obligations as security therefore, hence,
the acquisition by the VENDEE of the Property described above is subject to the superior
mortgage lien now and existing therein in favor of ____________________ (Originator), its
assignee or transferee, the Pag-Ibig Fund.
b) The Promissory Note, the Loan and Mortgage Agreement executed by the VENDOR and his/her
co-borrower/s in favor of ________________________________ (Originator) or its Assignee,
the Pag-Ibig Fund, shall bind the VENDEE and his/her co-borrower/s in the same manner and
condition as if they were the original parties to said agreements; however, should there be a
separate Promissory Note executed by the VENDEE and his/her co-borrower/s, the Loan and
Mortgage Agreement executed by the VENDOR and his/her co-borrower/s shall nonetheless be
binding upon the VENDEE and his/her co-borrower/s in the same manner.
c) All actions, remedies, equities, as well as any other rights of resources enforceable by the
Originator or the Pag-Ibig Fund against the VENDOR and his/her co-borrower/s, shall now and
hereafter be enforceable against the VENDEE and his/her co-borrower/s.
IN WITNESS WHEREOF, we have hereunto set our hands, this _________ day of ________ 20___
at the Province/City of __________________, Philippines.
________________________________ ________________________________
VENDOR VENDEE
With my Marital Consent: With my Marital Consent:
________________________________ ________________________________
________________________________ ________________________________
Co-Borrower Co-Borrower
With our Conformity:

PAG-IBIG
By: _____________________________
SIGNED IN THE PRESENCE
________________________________ ________________________________
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
Province/City of ____________) S.S.
At the above stated locality, on this ___________ day of _______________, 20 _______,

before me personally appeared:
Gov’t Issued ID Date/Place Issued
_________________________ ______________ ___________________
_________________________ ______________ ___________________
_________________________ ______________ ___________________
_________________________ ______________ ___________________
Known to me to be the same person who executed the foregoing instrument and acknowledged
the same to be their free and voluntary act and deed as well as that of the Corporation herein
presented.
This instrument refers to a Deed of Sale with Assumption of Mortgage consisting of two
pages signed by the parties and their witnesses and sealed with mu notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal at the
place on the date abovementioned.
NOTARY PUBLIC
DOC. NO. _________________

PAGE NO. _________________
BOOK NO. ________________
SERIES OF ________________

Deed of Sale With Assumption of Mortgage

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DEED OF SALE WITH ASSUMPTION OF MORTGAGE

KNOWN ALL MEN BY THESE PRESENTS:

This DEED made and executed in____________________________________________________

WHEREAS, the VENDOR has availed of housing loan for

WHEREAS, PAG-IBIG FUND purchased the aforesaid mortgage from

2) The foregoing consideration shall be paid as follows:

With our Conformity:

SIGNED IN THE PRESENCE

At the above stated locality, on this ___ day of _, 20 _,

DOC. NO. _________________

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