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Compromise Agreement

This document is a compromise agreement between Juliet Feliciano and D' Asian Hills Bank regarding a property owned by Feliciano. The property, a 100 square meter parcel of land in Barangay 9, Malaybalay City, Bukidnon, was previously mortgaged to the bank to secure a loan. Under this new agreement, Feliciano will pay the bank a total of 140,000 Philippine pesos, with an initial payment of 124,000 pesos and the remaining 16,000 pesos to be paid within two months, to settle the loan. Both parties agree to comply with the terms and that this agreement will not affect any other cases between them.

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1K views2 pages

Compromise Agreement

This document is a compromise agreement between Juliet Feliciano and D' Asian Hills Bank regarding a property owned by Feliciano. The property, a 100 square meter parcel of land in Barangay 9, Malaybalay City, Bukidnon, was previously mortgaged to the bank to secure a loan. Under this new agreement, Feliciano will pay the bank a total of 140,000 Philippine pesos, with an initial payment of 124,000 pesos and the remaining 16,000 pesos to be paid within two months, to settle the loan. Both parties agree to comply with the terms and that this agreement will not affect any other cases between them.

Uploaded by

DamanManda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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COMPROMISE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:


This COMPROMISE AGREEMENT is executed in the City of Malaybalay,
Bukidnon, Philippines, by and between:
JULIET FELICIANO, of legal age, Filipino, married to GEORGE FELICIANO,
and a resident of Barangay 9, Malaybalay City, Bukidnon, hereinafter referred to as
the MORTGAGOR;
-ANDD ASIAN HILLS BANK, INC. (A RURAL BANK), a rural banking corporation
duly organized and existing under the laws of the Republic of the Philippines with
principal office at the 2nd Floor DAHBI Centre, Fortich Street, Malaybalay City,
Bukidnon and hereby represented by its Vice President Administration,
PATROCINIO A. ROXAS, of legal age, Filipino and a resident of Patag, Cagayan de
Oro City, Misamis Oriental, hereinafter referred to as the MORTGAGEE;
WITNESSETH:
WHEREAS, the MORTGAGOR is the rightful owner of a parcel of land
situated in BARANGAY 9, MALAYBALAY CITY, BUKIDNON and covered by TRANSFER
CERTIFICATE OF TITLE NO. T-105925, containing an area of ONE HUNDRED (100
sqm.) square meters, more or less;
WHEREAS, the above-mentioned property was mortgaged in favor of the
MORTGAGEE in support for an application of loan;
NOW THEREFORE, in consideration of the foregoing and the further
covenants hereinafter set forth, the parties agree as follows:
1. The total consideration shall be ONE HUNDRED FORTY THOUSAND PESOS
(Php 140, 000. 00), PHILIPPINE CURRENCY, in accordance with the following
schedule:
a. Initial payment ONE HUNDRED TWENTY FOUR THOUSAND PESOS
(P 124, 000.00) shall be paid to the MORTGAGEE upon signing and due
execution of this COMPROMISE AGREEMENT;
b. Second payment the balance of SIXTEEN THOUSAND (P 16, 000.00)
shall be paid by the MORTGAGOR to the MORTGAGEE within two (2)
months without interest;
2. This COMPROMISE AGREEMENT shall not affect nor prejudice any case or
cases between the parties not specifically referred to herein.
3. The signatories to this COMPROMISE AGREEMENT hereby represent and
warrant that they are duly authorized to execute this Agreement.
4. The foregoing covenants are not contrary to law, morals, or public policy and
the parties bind themselves to comply strictly with their undertakings.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures,
this _______ day of ___________________ at ________________, Philippines.
D ASIAN HILLS BANK, INC.,
FELICIANO
MORTGAGEE
Represented by:
PATROCINIO A. ROXAS
Vice President Administration

JULIET
MORTGAGOR

Witnesses:
____________________________

____________________________

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