DEED OF SALE OF MOTOR VEHICLE WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED   OF   SALE   OF   MOTOR   VEHICLE   WITH   ASSUMPTION   OF

MORTGAGE  is  made and executed this 8th day of October, 2017 by and between:

ATTY. JURIL BROKA PATIÑO, of legal age, married to LILIBETH

ESTOMO PATIÑO, Filipino, and with residence and postal address at Block 6 Lot,
Miramonte Subdivision, Pit-os, Cebu City, hereinafter referred to as the
"SELLER/VENDOR";
-AND-
ANNA MARIE PARAS, of legal age, married to ALEXANDER V. PARAS,
Filipino and with residence and postal address at 111 Lot 2, Phase 1 Softouchn
Subdivision, Upper Calajoan, Minglanilla, Cebu, hereinafter referred to as the
"BUYER/VENDEE".
WITNESSETH:
WHEREAS, the SELLER/VENDOR is the registered owner of a motor vehicle
which is more particularly described as follows:
MAKE : HYUNDAI
SERIES : EON 0.8L GLS MT
MODEL : 2016
COLOR : MIDAS GOLD
BODY : SUB COMPACT
ENGINE NO : G3HAFM394464
CHASSIS NO : MALA351AAGM434230
PLATE NO : MP 0704
T. PLATE : ADM 9317

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER

/VENDOR has agreed to sell the above mentioned motor vehicle under the terms and
conditions herein below set forth;

WHEREAS,  the SELLER/VENDOR hereby warrant that said motor vehicle is
still mortgaged with BANK OF THE PHILIPPINE ISLANDS, with remaining balance of
FIVE   HUNDRED   FIVE   THOUSAND   AND   NINE   HUNDRED   EIGHT
PESOS (P505,908.00), with monthly amortization amounting to  TEN THOUSAND NINE
HUNRED NINETY EIGHT PESOS payment due every 13th  of the month starting October
2017 up to July 2021 and that will defend the title and rights of theVENDEE from any
claims of whatever kind or nature from third persons.
NOW THEREFORE, for and in consideration of the sum of FIFTY-THOUSAND
PESOS (Php: 50,000.00) Philippine Currency as ASSUMPTION FEE, the
SELLER/VENDOR   hereby SELLS,   TRANSFERS AND   CONVEYS   and   by   these
presents have SOLD, TRANSFERRED AND CONVEYED unto said BUYER/VENDEE

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who likewise agree to buy the aforesaid property the of the covenants hereinafter set
forth, as follows:

1. The total consideration shall be FIVE HUNDRED FIVE THOUSAND AND

NINE   HUNDRED   EIGHT   PESOS (P505,908.00) Philippine Currency,
payable as follows:

a) The amount of FIVE HUNDRED FIVE THOUSAND AND NINE

HUNDRED EIGHT PESOS (P505,908.00), shall be paid in forty-six
(46) monthly installment in equal amount of TEN THOUSAND NINE
HUNDRED NINETY-EIGHT PESOS (P10,998.00) PESOS starting on
October 13, 2017 and to be paid in full on or before July 13, 2021;
b) Monthly installment payment shall be made by issuing a post-dated
checks equivalent to at least six months for the first six months and
another six months post-dated for the succeeding until fully paid on
July 13, 2021;
c) In the event that the BUYER/VENDEE fails to pay two (2)
consecutive monthly installments, the SELLER/VENDOR has the right
to immediately take possession of the motor vehicle and rescind this
contract without reimbursement to the BUYER.VENDEE any amount
paid relative to this contract after oral or written demand for payment
shall be exhausted first by SELLER/VENDOR.
2. During the tenure of the foregoing instrument and before the full payment of
the total price, the registration of the motor vehicle unless still covered by the
Car Dealer Company, insurance fees and other expenses for the maintenance of
the motor vehicle shall be borne by the BUYER/VENDEE;

3. Possession to the subject property shall be delivered by the

SELLER/VENDOR to the BUYER/VENDEE on or before October 13, 2017;

4. Upon full payment of the total price, the SELLER/VENDOR shall sign and
execute a DEED OF ABSOLUTE SALE in favor of the BUYER/VENDEE.
The SELLER/VENDOR shall likewise execute and/or deliver any and all
documents, including but not limited to the original copy of Certificate of
Registration, and all other documents necessary for the transfer of ownership
to the BUYER/VENDEE. Expenses paid for the transfer of ownership of the
subject motor vehicle shall be borne by the3 BUYER/VENDEE.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this 8th
day of October, 2017 at Cebu City, Philippines.

ATTY. JURIL BROKA PATIÑO ANNA MARIE PARAS

SELLER/VENDOR BUYER/VENDEE

SIGNED IN THE PRESENCE OF:

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 __________________________ ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CEBU CITY ) SS.

BEFORE ME, a Notary Public, this 8th day of October ,2017 personally
appeared the following:
Name ID Number Date/Place Issued
ATTY. JURIL PATIÑO G06-08-010199 Oct. 30, 2014 / Cebu City
ANNA MARIE PARAAS G06-94-034438 July 21, 2015/Cebu City
This instrument, consisting of three (3) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page
thereof by the concerned parties and their witnesses, and sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place
above written.

Notary Public
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 2017.