AMENDMENT OF REAL ESTATE MORTGAGE WITH PROMISSORY NOTE

KNOW ALL MEN BY THESE PRESENTS:

This AMENDMENT OF REAL ESTATE MORTGAGE with PROMISSORY NOTE

made and executed by and between:

BEVERLY GRACE Z. BATUHINAY, married to LEO N. BATUHINAY, Filipino,

both of legal age and with residence and postal address at Barangay Apokon,
Tagum City, Davao del Norte, Philippines, hereinafter referred to collectively as
MORTGAGOR;

-AND-

RV Bayanihan Lending Corporation, a corporation duly organized and existing

according to the laws of the Republic of the Philippines with office address at
#1336 Sobrecarey St., Magugpo Poblacion, Tagum City, herein represented by
Rodrigo G. Po Sr., hereinafter known as the MORTGAGEE;

WITNESSETH:

WHEREAS on July 19, 2017, the parties entered into a real estate
mortgage involving a parcel of land lawfully belonging to MORTGAGOR, located
in Barangay Apokon, Tagum City and more particularly described as follows:

Transfer Certificate of Title No. T-180476

A parcel of land (LOT 2-B, PSD-11-069653) being a portion of Lot 2, Blk.

2, Psd-72520, situated in the Barrio of Magugpo, City of Tagum,, Province of
Davao del Norte, island of Mindanao. Bounded on the NE., along line 4-1 by lot
2-A of the subd. Plan; on the SE., along line 1-2 by Road; and on the SW., along
line 2-3 by Lot 2-C of the subd. Plan; on the NW., along line 3-4 by Lot 393
(portion) Cad-276. Beginning at a point marked “1” on plan being S. and
containing an area of THREE HUNDRED FIFTY SEVEN (357) square meters,
more or less.

WHEREAS, the above-described property was used to secure the

payment of a loan accommodation in the sum of Five Hundred Seventy Five
Thousand (575,000) Pesos, which mortgage was duly recorded as Doc No. 468
Page No. 94, Book No. XII, Series of 2017 of the notarial book of NIEL JOHN A.
VILLARICO, and duly annotated in the memorandum of encumbrance of the
afore-stated title as EPEB No. 2017009950.

WHEREAS, the MORTGAGOR has requested an additional loan

amounting to One Hundred Eighty Thousand (180,000.00) PESOS, and the
MORTGAGEE has agreed to increase the same subject to a monthly interest of
(3%) per month, or as specified in the promissory notes or other evidence of
indebtedness secured by this mortgage’’

PROMISSORY NOTE. This mortgage likewise stands as security for the

Promissory Note secured by the MORTGAGORS, as follows:

For Value received, I/We jointly and severally promise to pay

RV Bayanihan Lending Corporation, or order the sum of SEVEN
HUNDRED FIFTY FIVE THOUSAND PESOS (Php 755,000.00)

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 with monthly interest on unpaid balances at the rate of Three
Percent (3%) per month, payable in SIX (6) MONTHS with monthly
installments of _____________________________
(PhP___________) PESOS; the first payment to be made
on__________________ and every _____________________
thereafter until the full payment has been made.

In case of any default in payments as herein agreed that the

entire balance of his note shall become immediately due and
payable. Each party to this promissory Note, whether a member or
co-maker or guarantor, separately waives presentment of demand
or protect.

It is further agreed by party hereto, that in the event that no

monthly payment shall be made, a penalty of one (1%) per month,
on the entire amount due shall be collected.

In case judicial action of this obligation or any part of herein,

the debtor waives all rights under the provisions of Rule 3, Section
13 and Rule 39, Section 12 of the rules of court.

BEVERLY GRACE Z. BATUHINAY ____________________________

Signature of Borrower/Maker Address

LEO N. BATUHINAY __________________________

Signature of Spouse Address

WHEREAS, the parties have agreed to extend the period of amendment

of real state mortgage with promissory note for Six (6) months, or until October
11, 2018;

NOW THEREFORE, for and in consideration of the above premises, the

parties have hereto agreed to amend said real estate mortgage by increasing the
principal amount of the loan/credit accommodation from Five Hundred Seventy
Five Thousand (575,000.00) Pesos to Seven Hundred Fifty Five Thousand
(755,000.00) Pesos subject to the foregoing terms and conditions.

WHEREAS, the MORTGAGOR shall insure, during the life of this

mortgage, at his own expense, the property(ies) subject of mortgage, against fire
and earthquake, for such amount, and with an insurance company(ies) as are
satisfactory to the MORTGAGEE, endorsing and delivering to the mortgagee all
corresponding policies. Any additional insurance on the property(ies) herein
described shall only be contracted with the express consent of the mortgagee.

WHEREAS, in the event that the MORTGAGOR shall fail or refuse to pay
the obligations herein secured, or any of the amortizations of such indebtedness
as they fall due, or to fail to comply with any of the conditions and stipulations
herein agreed, or shall, during the time of this mortgage is in force, instituted
insolvency proceedings or be involuntarily declared insolvent, or shall use the
proceeds of the loans/accommodations for purposes other than those
specified/approved, or if this mortgage cannot be recorded in the Registry of
Deeds, then all the obligations secured by this mortgage and all amortizations
thereon shall immediately become due, payable and defaulted, and the
MORTGAGEE may, at its election, immediately foreclose this mortgage judicially
in accordance with the Rules of Court, or extra-judicially in accordance with Act

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3135, as amended. The MORTGAGOR hereby agrees further that in all cases,
attorney’s fees shall hereby be fixed at twenty (20%) per cent of the unpaid
indebtedness, including interest, which attorney’s fees shall in no case be less
than Five Thousand (P5,000.00) Pesos, exclusive of all costs and fee imposed
by law. All expenses for collection shall be shouldered by the MORTGAGOR, and
shall, with priority, be paid to the MORTGAGEE, and this mortgage shall likewise
stand as security therefor.

It is expressly understood that the remedy of the MORTGAGEE under the

powers of sale hereby conferred upon it shall be and is in addition to the rights of
action existing or may exists under the laws of the Republic of the Philippines.

WHEREAS, the parties agree that all correspondence relative to this

mortgage, including all demand letters, summons, subpoenas, or notifications of
any judicial or extra-judicial actions shall be sent to the MORTGAGOR in the
address herein stated, or to any address which may be given by the mortgagor in
writing after the constitution of this mortgage. It is agreed that the mere fact of
sending via registered mail, or personal service in the address indicated shall
constitute valid and sufficient notice. The fact that no communication is actually
received by the mortgagor, or that the correspondence has been returned
unclaimed, or refused to be received, shall not excurse nor relieve the mortgagor
from the effect of such notice.

WHEREAS, it is hereby agreed that in case of foreclosure of this

mortgage under Act 3135, as amended, the auction sale shall be held at the
capital of the province or city where the property is under jurisdiction.

WHEREAS, all other terms and conditions of the real estate dated March
29, 2016 in so far as are consistent with this amendment, are hereby confirmed,
ratified and continued in full force and effect/ and that the parties hereto agree
that this amendment be made an integral part of the said real estate. This
Amendment and the March 29 Real Estate Mortgage state the entire agreement
between the parties. Any addition or modification to this mortgage contract must
be made in writing and signed by the parties. If any of the provisions of this
contract are found to be unenforceable, the remainder shall be enforced as fully
as possible and the unenforceable provision(s) shall be deemed modified to the
limited extent required to permit enforcement of the contract as a whole.

IN WITNESS WHEREOF, the MORTGAGORS and the MORTGAGEE, have

hereunder set their hands this ___________________ at Tagum City, Davao del
Norte, Philippines.

BEVERLY GRACE Z. BATUHINAY RV Bayanihan Lending Corporation

Mortgagor Mortgagee
TIN: 196-633-615

LEO N. BATUHINAY
Mortgagor Represented by:
TIN: 940-668-943 RODRIGO G. PO SR.,
Driver’ Lic. No. L06-75000674
Valid Until 03-13-19

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 SIGNED IN THE PRESENCE OF:

_________________ and ___________________

ACKNOWLEDGMENT

Republic of the Philippines )

Province of Davao del Norte ) S.S.
City of Tagum )

BEFORE ME, a Notary Public for and in the Province of Davao del Norte,
came and appeared the MORTAGOR and MORTGAGEE, known to me and to
me known to be the same persons who executed the foregoing instrument
relating to the Amendment of Real Estate Mortgage consisting of FOUR (4)
pages, including this acknowledgment, which they acknowledged before me as
their free and voluntary act and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my

notarial seal, this __________________ at Tagum City, Philippines.

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of 2017.

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