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 10th day of July, 2025 by and between:
QUEENIE JOY T. FAELNAR, of legal age, single, Filipino, and with
residence and postal address at Block 18 Lot, 6, Silvercreek Subdivision, Carmen,
cagayan de Oro City, hereinafter referred to as the "SELLER/VENDOR";
-AND-
MARIVIE B. DELA VICTORIA, of legal age, married to DARYL FRED F.
DELA VICTORIA, Filipino and with residence and postal address at Purok 3, Bauk-
Bauk, Balingoan Misamis Oriental, 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 : TOYOTA
SERIES : AVANZA E 1.3 CVT
MODEL : 2025
COLOR : GREENISH GUN METALLIC
BODY : MPV
ENGINE NO : 1NRY304908
CHASSIS NO : MHFAA1BYR0029116
PLATE NO : KBB 8408
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 MAYBANK, with remaining balance of EIGHT HUNDRED
SEVENTEEN THOUSAND THREE HUNDRED THIRTEEN PESOS AND FIFTY-
FIVE CENTAVOS (817,330.55), with monthly amortization amounting to TWENTY
THREE THOUSAND SIX HUNDRED EIGHT PESOS (23,608.00) payment due every 2nd of
the month for 49 months and that will defend the title and rights of the VENDEE from
any claims of whatever kind or nature from third persons.
NOW THEREFORE, for and in consideration of the sum of TWO HUNDRED
THOUSAND PESOS (200,000.00) 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
who likewise agree to buy the aforesaid property the of the covenants hereinafter set
forth, as follows:
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1. The total consideration shall be EIGHT HUNDRED SEVENTEEN
THOUSAND, THREE HUNDRED THIRTEEN PESOS AND FIFTY-FIVE
CENTAVOS (817,330.55) Philippine Currency, payable as follows:
a) The amount of EIGHT HUNDRED SEVENTEEN THOUSAND,
THREE HUNDRED THIRTEEN PESOS AND FIFTY-FIVE
CENTAVOS (817,330.55), shall be paid in forty-nine (49) monthly
installment in equal amount of TWENTY THREE THOUSAND SIX
HUNDRED EIGHT PESOS (23,608.00) starting on August 2, 2025 and to
be paid in full on or before August 2, 2029;
b) Monthly installment payment shall be made by The monthly
mortgage shall be paid through any method to Maybank, under the
account name Queenie Joy Faelnar, with account number 10510266605
until fully paid in the year 2029;
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 [Link] 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. 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 the BUYER/VENDEE.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this
_______________________, 2017 at Cagayan de Oro City, Philippines.
QUEENIE JOY T. FAELNAR MARIVIE B. DELA
VICTORIA
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 __________________,2025 personally
appeared the following:
Name ID Number Date/Place Issued
QUEENIE JOY T. FAELNAR
MARIVIE B. DELA VICTORIA
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 2025.