Republic of the Philippines
REGIONAL TRIAL COURT
Office of the Executive Judge/ Ex-Officio Sheriff
Batangas
IN RE: EXTRAJUDICIAL
FORECLOSURE OF MORTGAGE
LUZON DEVELOPMENT BANK,
Petitioner/Mortgagee,
-versus - EJF NO.
_______________
MENA ROBLES VDA. DE CUSI &
ROMWAR R. CUSI ,
Respondents/Mortgagors.
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PETITION
COMES NOW Petitioner/Mortgagee Luzon
Development Bank through the undersigned Counsel and
unto this Honorable Court most respectfully states that:
1. Petitioner/Mortgagee is a domestic corporation duly
organized and existing under Philippine laws with
principal business address at LDB Corporate Center,
National Highway, Paciano Rizal, Calamba City,
Laguna, duly represented by its President, Gerardo T.
Auson, Jr. Copy of the Secretary’s Certificate is
attached hereto as Annex “A” , to form part hereof.
2. Respondents/Mortgagors Sps. Mena Robles VDA. De
Cusi and Romwar Cusi, both of legal age, Filipino
citizens, with postal address at San Andres Proper,
San Andres Uno ,Bauan, Batangas, where they may
be served with notices and other court processes.
3. Respondents/Mortgagors Sps. Mena Robles VDA. De
Cusi and Romwar Cusi obtained a loan from
Petitioner/Mortgagee under a Term Loan Agreement
dated January 10, 2012(Annex “B”), on which they
executed and delivered Promissory Note No. 2014-
110-103-005780 dated April 7,2014 (Annex “C”) and
Disclosure Statement (Annex “D”), and secured the
same with Real Estate Mortgage Agreement (Annex
“E”) over a parcel of land, with all the buildings and
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improvements thereon, registered under the name
Mena Robles VDA. De Cusi covered by Tax
Declaration No. 05-0029-00278 (Annex “F”), located
at San Andres Proper, Bauan, Batangas, for the sum
of ONE MILLION EIGHT HUNDRED FIFTY THOUSAND
PESOS (Php1,850,000.00), Philippine Currency.
4. Respondents/Mortgagors defaulted in the payment of
their monthly loan amortizations on July 8, 2017,
causing their total loan obligation due and
demandable plus accrued interest, penalties and
other charges.
5. By the terms and conditions of the Term Loan
Agreement, Promissory Note, Disclosure Statement
and Real Estate Mortgage Contract, the total amount
of the due and demandable loan obligation of
Respondents/Mortgagors Real Estate Mortgage
including interest, penalties and other bank charges
as of May 16, 2018 is amounting to ONE MILLION ONE
HUNDRED NINETY FIVE THOUSAND FIVE HUNDRED
SIXTY ONE PESOS and 76/100 (P1,195,561.76).
Attached is a copy of Statement of Account marked
as Annex “G”.
6. Verbal demands were made by Petitioner/Mortgagee
to Respondents/Mortgagors to pay their loan
obligation. Despite verbal demands,
Respondents/Mortgagors’ loan obligation remain
unpaid. Thereafter, written demands were made by
Petitioner/Mortgagee to Respondents/Mortgagors
asking the latter to pay in full their total loan
obligation. However, despite receipt of the final
demand letter from the Bank Collection and Legal
Department, Respondents/Mortgagors unjustifiably
and unreasonably refused to settle their loan
obligation. Copies of the Letters from Bank Collection
and Legal Department are attached hereto as
Annexes “H-series”.
7. The Real Estate Mortgage Contract, provides that:
“In the event the MORTGAGOR defaults in the
obligations hereby secured, breaches or fails to
comply with any of the terms and conditions
stipulated in this mortgage or in the separate credit
line/loan documents evidencing the obligations
hereby secured, or if the MORTGAGOR dishonors or
does not abide by the powers of attorney herein
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granted in favor of the MORTGAGEE, or institutes
suspension of payments or insolvency proceedings or
is involuntarily declared insolvent, or if this mortgage
cannot be Recorded in the Registry of Deeds, or
should any other event of default under the credit
line/ loan document evidencing the Line/ Loan
hereby secured occur (hereinafter referred to as
“events of default”), the MORTGAGEE may foreclose
this mortgage extrajudicially in accordance with Act
No. 3135, as amended by P.D. 1529, or judicially in
accordance with Rules of Court. In case of
extrajudicial foreclosure, the right of redemption of
the MORTGAGOR shall be governed by Section 47 of
The General Banking Law of 2000 (Republic Act No.
8791).”
8. In view of the violation of the terms and conditions of
said note and Real Estate Mortgage, the
aforementioned property subject of the Real Estate
Mortgage may now be sold at public auction.
PRAYER
`WHEREFORE, it is respectfully prayed that the
subject Real Estate Mortgage of Respondents/Mortgagors
over the property covered by Tax Declaration No. 05-0029-
00278 as well as the improvements thereon, located at
San Andres Proper, Bauan, Batangas, and registered with
the Office of the Registry of Deeds of Batangas City, be
extra-judicially foreclosed and sold pursuant to Act 3135,
as amended.
Other reliefs just and equitable are likewise prayed
for.
June 11, 2018 , Calamba City for Batangas City.
ATTY. MIGUEL RUPERTO RICO D. QUILAB
Counsel for the Defendant
Roll No. 67488
Temporary IBP No. I3I; 01/09/2018; Cagayan De Oro City
PTR No. 3675217A; 12/27/2017 (for 2018);Cagayan De Oro
City
MCLE Exempt (admitted to the Bar on May 2017)
LG/F Somerset Condominium, Olympia Tower,
Makati Avenue cor. Sto. Tomas Street,
Urdaneta Village, Makati City
Mobile No. 09152700570
Email: miguelrrq@gmail.com
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