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KASABUTAN

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elpedang
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18 views

KASABUTAN

Uploaded by

elpedang
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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HOME MORTGAGE AGREEMENT

EVERYONE SHOULD KNOW:

This agreement is made between:

, legal age, Filipino and residing in Km. 4, Brgy. Luna, Surigao City, herein referred to as
(“NAGSANLA”);

And

, legal age, Filipino and residing in Km. 4, Brgy. Luna, Surigao City, herein referred to as
(“PINAGSANLAAN”).

CERTIFIES:

That the FIRST PARTY is the owner of the HOUSE located in Km. 4, Brgy. Luna,
Surigao City.

That the FIRST PARTY has agreed with the SECOND PARTY to MORTGAGE the
said house for the amount of FIFTY THOUSAND (PHP 50,000.00) given on August 6, 2024,
proof of his signing this document.

1. That this agreement is valid for a period of (10) years starting on August 7 and ending on the
same day of the following year 2034, when the full amount (PHP 50,000.00) will be refunded;

2. That as interest on the borrowed money the SECOND PARTY will temporarily live and take
care of the said house free of charge while this agreement exists;

3. That if the SECOND PARTY wants to make changes or repairs to the room, it is appropriate
to talk to the owner, the cost will be discussed by both parties;

4. That if something is damaged in the house during his stay, the SECOND PARTY is obliged
to have it repaired before leaving, unless the damage is caused by natural calamities or chance;

5. That if the due date arrives and it has not yet been paid, this AGREEMENT will continue or
may be renewed depending on the agreement of the two parties;
6. That if the SECOND PARTY changes its mind not to complete the contract, the first party
will be given sufficient time, depending on the agreement of the two parties to TRANSFER
THE MORTGAGE TO ANOTHER;

7. That in case the owner wants to redeem the said MORTGAGE HOUSE, the full amount (PHP
50,000.00) will be returned.

8. That the house is not mortgaged to others and cannot be mortgaged to others by the FIRST
PARTY while this agreement exists, as well as to the SECOND PARTY while it is mortgaged to
him.

9. That this agreement which they have made will be voluntarily and strictly observed according
to existing law and in the presence of witnesses.

IN WITNESS WHEREOF, we have hereunto signed our names this August 6, 2024 here in the
City of Surigao.

_______________________________ ______________________________

Second Party (PINAGSANLAAN)

SIGNED IN FRONT OF:

_______________________________ ______________________________
WITNESS WITNESS

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