REAL ESTATE MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This MORTGAGE made and executed by

SPOUSES ALVIN HIPOLITO & JANICE HIPOLITO, of legal age, married, and a resident of _
Bonifacio St., Cabu, Cabanatuan City, Nueva Ecija herein called the Mortgagor

–and -

SPOUSES JEFFREY BULOS & GLAIZA BULOS, Filipino, of legal age, single/married, and a
resident of Entablado, Cabiao, Nueva Ecija herein called the Mortgagee;

W I T N E S S E T H:

1. That as security for the payment of the loan in the principal sum of THREE HUNDRED THOUSAND
PESOS (Php 300,000.00), and such other loans or advances already obtained, or still to be obtained by
the MORTGAGOR(s) as MAKER(s), CO-MAKER(s), or GUARANTOR(s) from the MORTGAGEE plus
interest at the rate of five percent (5%) per month, payable on the dates mentioned in the corresponding
loan agreement, the MORTGAGOR(s) by way of first mortgage, mortgages the parcel(s) of land
described hereunder, together with the improvements now existing, or which may hereafter be made
thereon, of which MORTGAGOR(s) represents and warrants that MORTGAGOR(s) is/are absolute
owner(s) and that the said parcel of land is/are free from all liens and encumbrances.

2. The MORTGAGOR hereby transfer and convey by way of mortgage unto the MORTGAGEE, their
heirs, successors, executors, administrators or assigns the following parcel of land covered by and
described in Transfer Certificate of Title No. 046-2018003862 issued by the Office of the Registry of
Deeds of Cabanatuan City, Nueva Ecija which title is attached hereto as Annex 1. 2.
Transfer Certificate of Title No. 046-2018003862

“A Parcel of Land (Lot 18, Blk. 4 of the cons.-subd. Plan PCS-03-007815, being a portion of
cons. Of lots 893-F, 893-G, 893-I PSD-03-028126 L.R.C. Rec. No.) situated in the Bo. of Cabu, City of
Cabanatuan. Bounded on the NE., along line 1-2 by lot 17, on the SE., along line 2-3 by Lot 16, both
Blk. 4; on the SW., along line 3-4 by Road Lot 4; and on the NW., along line 4-1 by Lot 20, Blk. 4, all of
the Cons.-subd. Plan. Beginning at a point marked “1” on plan, being X X X X Containing an area of
one ONE HUNDRED TWENTY (120sq.mtrs.) more or less.”

3. That if the obligations herein secure, or any of the amortization of such indebtedness should be unpaid
when due or upon non-compliance with any of the conditions and stipulations herein agreed, or if the
MORTGAGOR or the person availing of the credit accommodations herein secured shall, during the
time the mortgage is in force, instituted solvency proceedings or be involuntarily declared insolvent, or
if the proceeds of this loan/credit line should be used or applied for purposes other than those
specified herein, or if this mortgage cannot be recorded in the corresponding Registry of Deeds, then all
the obligations secured by this mortgage and all the amortization thereof shall immediately become
due, payable and defaulted and the MORTGAGEE may immediately foreclose this extra judicially in
accordance with Act No. 3135, as amended, and for the purpose, the Mortgagor hereby names,
constitutes and appoints the Mortgagee as it’s Attorney-in-Fact, to enable it to extra judicially foreclose
the herein Mortgage and as well as to sign all documents and perform any act requisite and necessary
to accomplish said purpose and to appoint its substitutes as such attorney-in-fact with the same powers
as above-specified.

4. In case of judicial foreclosure the MORTGAGOR hereby consents to the appointment of the
MORTGAGEE and/or its duly authorized representative or of any of its designates as receiver, without
any bond, to take charge of the mortgage property at once, and to hold possession of the same and the
rents, benefits and profits derived from the mortgaged property before the same, less the costs and
expenses of the receivership; the MORTGAGOR hereby agrees further that, in all cases, attorney’s fees
is hereby fixed at 25% of the total indebtedness then unpaid, which in no case shall not be less than Php
5,000.00 exclusive of all cost and fees allowed by law, and the expenses of collection shall be the
obligation of the MORTGAGOR and shall with priority, be paid to the MORTGAGEE out of any sums
realized from the sale of said property and this mortgage shall likewise stand as security therefor.
5. It is hereby agreed that the period or periods granted for the payment of the amortization and/or
obligations secured by this mortgage is for the mutual benefit of both MORTGAGOR and the
MORTGAGEE. The MORTGAGEE may be a bidder at the sale of the properties hereby mortgage to it,
whether under foreclosure proceedings, or under the powers of sale herein provided, or otherwise. The
remedy of the MORTGAGEE under the powers of sale hereby conferred upon it shall be, and is in
addition to and cumulative with such right of action as the MORTGAGEE may have in accordance
with the present or any future laws of the Philippines.

6. It is hereby agreed that in the case of foreclosure of this mortgage under Act No. 3135, the auction sale
shall be held at the capital province; and in case of judicial execution of this obligation or any part of it,
the debtor waive all their rights under the provisions of Rule 39 Section 12 of the Rules of Court, Art.
232 of Republic Act No. 386, known as the Civil Code of the Philippines, and the proper venue of the
foreclosure suit thereto corresponding, where the mortgage may institute the foreclosure suit is the
Court of Regional Trial Court of Gapan City or elsewhere at the election of said MORTGAGEE;

7. It is of the essence of this contract that if the MORTGAGOR fails to pay the principal obligation then
this mortgage shall be foreclosed and the abovementioned property/ies shall be sold in accordance
with law; but, if the MORTGAGOR pay said obligation together with the interests, then this mortgage
shall become null and void and of no effect.

In Witness Whereof, we have hereunto set our hands this December_________, 2019 at
_______________________________________, Philippines.

_____________________ _____________________
ALVIN HIPOLITO JANICE HIPOLITO
Mortgagor Mortgagor

____________________ ______________________
JEFFREY A. BULOS GLAIZA N. BULOS
Mortgagee Mortgagee
Witnesses:
_____________________ _______________________

ACKNOWLEDGEMENT

Republic of the Philippines)

________________________) S.S
X-------------------X

BEFORE ME, a Notary Public for _________________________ this _________________________

personally appeared:

Name Evidence of Identity Date/Place Issued

ALVIN HIPOLITO_______________________________________________________________
JANICE HIPOLITO______________________________________________________________
JEFFREY A. BULOS______________________________________________________________
GLAIZA N. BULOS______________________________________________________________

All known to me and to me known to be the same persons who executed the foregoing real estate
mortgage and who acknowledged the same to be their free voluntary act and deed, and that of the
entities represented. This document refers to a loan agreement which consists of two (2) pages
including this page on which this Acknowledgement is written, and duly signed by the parties
together with their instrumental witnesses on each and every page hereof.

WITNESS MY HAND AND SEAL on the date and place first above written.

Doc. No. _____; Notary Public

Page No. ____;
Book No. ____;
Series of 2020