This DEED, made and entered by and between:

                     _____________, of legal age, Filipino, single/married and residing at _______ and hereinafter referred to as the VENDOR,

                     _____________, of legal age, Filipino, single/married and resident of _______ and hereinafter referred to as the VENDEE,

           WHEREAS, the VENDOR is the owner in fee simple of that certain property with all the improvements thereon, situated at _____ covered by Transfer Certificate of Title No. ____ of the Register of Deeds of Quezon City and more particularly described as follows:

           WHEREAS. the above described property is presently mortgaged in favor of _______ to secure payment of an original obligation in the principal sum of ________PESOS (P____), Philippine Currency, contracted by the VENDOR from the aforenamed mortgagee under the terms and conditions set forth in the said instrument of mortgage executed on ______, 2001 ratified before Atty. ______, Notary Public in and for _______as per Doc. No. ___; Page No. ____; Book No. ____; Series of 2001 of his notarial register, which original mortgage obligation has been reduced to P_______ as of ________;

           THAT _____________________ (specify other stipulations)

           WHEREAS, the VENDOR has offered to sell and the VENDEE has agreed to buy the above-described property with all the improvements thereon for the total consideration of ___________ PESOS (P_______), Philippine Currency, payable in the manner set forth hereinbelow;

           NOW, THEREFORE, for and in consideration of the sum of _______PESOS (P_____) paid to and the receipt whereof is hereby acknowledged by the VENDOR from the VENDEE, the said VENDOR does hereby SELL, TRANSFER and CONVEY, in a manner absolute and irrevocable, unto the VENDEE, his heirs, successors and assigns the real property above described together with all the improvements existing thereon, free and clear of all liens and encumbrances except the mortgage as may be subsisting in favor of ________; and

           The VENDEE does hereby accept this sale and binds himself to assume as he assumes the payment of the unpaid balance of the mortgage indebtedness of the VENDOR amounting to ______PESOS (P______) in favor of the aforenamed ________mortgagee by virtue of the mortgage instrument executed on ______, 2001 and does hereby further agree to be bound by the precise terms and conditions therein contained.

          IN WITNESS WHEREOF, the parties hereto have hereunto set their hands on the ____day of _______, 2003 at Quezon City, Philippines.