Affidavit of Explanation. Bacduyan.10.2019

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Republic of the Philippines)

La Trinidad, Benguet) s.s


x- - - - - - - - - - - - - - - - -x

AFFIDAVIT OF EXPLANATION

I, Joseph O. Bacduyan, of legal age, married, Filipino, and a resident of Banig, Tawang,
La Trinidad, Benguet, after having been duly sworn to in accordance with law, do hereby
depose and state, THAT:

1. I am a mortgagor of Credit Masters & Lending Investors Corp., a duly and organized
and existing under the laws of the Republic of the Philippines, with office address at
Upper Cruz, La Trinidad, Benguet, Philippines. The Deed of Real Estate Mortgage
was docketed as Document No. 326; Page No. 66, Book No. 1, Series of 2006 of
Notary Public, Miller E. Quintin;

2. Sometime on December 3, 2018, I was able to satisfy all my mortgage obligations


under the afore-said deed. Hence, the same was cancelled as per Cancellation of
Real Estate Mortgage docketed as Doc. No. 87, Page 18, Book No. V, Series of
2018 of Notary Public Atty. Cyrus C. Calaya, dated on even date;

3. I was only given two (2) original copies of the said Cancellation of Real Estate
Mortgage by Credit Masters & Lending Investors Corporation. Thereafter, I was
about to process the cancellation of the same with the Office of the Register of
Deeds of La Trinidad, Benguet. I was then required to submit at least a copy of the
original document.

4. However, I was unable to produce or comply with the same as the original copies
were already given to the Credit Masters and Lending Investors Corp. which cannot
give their original file copy while the other was given/surrendered to Engr. Reynaldo
Guives, as one of the necessary supporting documents for my application for
registration or titling with the appropriate government agencies over the land subject
of the mortgage, which copy he cannot likewise produce or return as of the time of
my application for cancellation;

5. This said document has not been used for any fraudulent or illegal purposes but due
solely to the foregoing.

6. I hereby undertake that I shall be solely responsible for the contents of this Affidavit
and hereby release and shall not hold liable the government, in general or the
Register of Deeds of La Trinidad, Benguet, in particular of any liability that may arise
from the contents hereof;

7. Finally, I am executing this affidavit to attest to the truthfulness of the foregoing facts
and for all legal intents and purposes it may serve well.

IN WITNESS WHEREOF, I have hereunto set my hand this 15th day of October
2019 at La Trinidad, Benguet, Philippines.

Joseph O. Bacduyan
Affiant
OSCA ID No. 11841

SUBSCRIBED AND SWORN to before me a Notary Public for and in La Trinidad,


Benguet, Philippines this 15th day of October 2019 by the above Affiant exhibiting to me his ID
with picture above his name and identified by me to be the same person who personally signed
before me the foregoing Affidavit.

ATTY. CYRUS C. CALAYA


Doc. No. 290; Notary Public until Dec. 31, 2019
Page No. 56; PTR No. BGTCF5358129; January 4, 2019
Book No. VI; IBP Lifetime No. 08051, at Pasig City
Series of 2019. Roll No. 52590, May 12, 2006; Manila
S & B Bldg., FA 224, Km. 4, La Trinidad, Benguet

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