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Amendment to Real Estate Mortgage Agreement

SHFC amendment form to real estate mortgage agreement

Your Browser Doesn't Support Canvas. Showing the Text Content of the PDF Instead: AMENDMENT TO REAL ESTATE
MORTGAGE AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
THIS AMENDMENT TO THE REAL ESTATE MORTGAGE AGREEMENT
(“Amended REM”) is entered into this __________________, at Makati City by and between:
SOCIAL HOUSING FINANCE CORPORATION, a private corporation duly
organized and existing under Philippine laws, with principal office address at
BDO Plaza, 8737 Paseo de Roxas, Makati City, represented herein by its
President, ______________________________________, (hereinafter, “SHFC”);
-and_______________________________________, a homeowners association duly
organized and existing under Philippine laws with HLURB Certificate of
Registration No. ________, with address at ___________________, represented
herein by its President, _____________________________ (hereinafter, “HOA”).

WITNESSETH:

WHEREAS, the Parties executed a Loan Agreement dated __________________, to the
HOA in the amount of ______________________________________________ (PhP_______)
to finance the land acquisition of the HOA;
WHEREAS, the said loan was secured by a Real Estate Mortgage (REM) dated
__________ executed on the land covered by Transfer Certificate of Title (TCT) No._________
with an area of _________ square meters and same was duly annotated at the back of said
property. A copy of the REM is attached as Annex “A” and made as an integral part of this
Agreement;
WHEREAS, the HOA applied for additional loans with SHFC as follows:
PURPOSE
House Construction
Site Development
TOTAL LOAN

AMOUNT

NOW THEREFORE, the parties hereby agree as follows:
1.
The total loan amount of the HOA with SHFC now amounts to
________________________________________ (PhP______). The aggregate loan shall
be secured by the property identified in the Real Estate Mortgage dated ______________
previously executed by the same parties which shall stand as collateral for the aggregate
loan.
2.
The additional site development and house construction loan shall bear six
percent (6%) interest per annum and shall be payable within the remaining term of the
Loan Agreement for land acquisition. The amortization payments for the additional loan
shall be added to the unpaid balance for the land acquisition, if any.
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3.
It is further agreed that all the other terms, conditions, and warranties
contained in the Real Estate Mortgage dated ___________ shall form part of this
agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered as of the date as above stated.

SOCIAL HOUSING FINANCE
CORPORATION

_____________________________
HOA

by:

by:

_____________________________
President
Government ID No. _____________

______________________________
President
Government ID No. _____________

SIGNED IN THE PRESENCE OF:

________________________

________________________

ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )
MAKATI CITY
) S.S

BEFORE ME, a Notary Public for and in the above jurisdiction this day of
_________________ personally appeared:
Name

Government Valid
ID

Place and Date of
Issue

Expiration Date

Known to me to be the same persons who executed the foregoing instrument, consisting of two
(2) pages, including this page wherein this acknowledgement is written, signed by the parties and
their instrumental witnesses and sealed with my notarial seal. This document refers to an
AMENDMENT TO REAL ESTATE MORTGAGE AGREEMENT, and acknowledged to me
that the same are their own free voluntary acts and deeds as well as of the Corporation and the
HOA herein represented.
WITNESS MY HAND AND SEAL on the date, year and place first above written.
Doc. No. __;
Page No. __;
Book No. __;
Series of 20___.

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