DEED OF ASSIGNMENT

KNOW EVERYONE BY THESE PRESENTS:

This Deed of Assignment made and executed by:

HOMER B. ABAD, of legal age, Filipino, single, and a resident of

Block 8, Don Andres, Ipil, Zamboanga Sibugay, Philippines, hereinafter
referred to as the “ASSIGNOR”

-in favor of-

JOSEPH A. BUENAVISTA, of legal age, Filipino, single and a

resident of Block 1, Buug, Zamboanga Sibugay, Philippines hereinafter
referred to as the “ASSIGNEE”

WITNESSETH: That –

WHEREAS, the ASSIGNOR has secured a loan from the ASSIGNEE

and as a security for the payment thereof, mortgaged a certain parcel of land,
together with all the building and/or improvements thereon, the land more
particularly described as follows:

“A PARCEL OF LAND (Lot 32 BLK 10 of consolidation and

subdivision plan (LRC) Pcs-10432, LRC Rec. No. 123) situated at
Nazareth Drive, Barangay Culianan, Zamboanga City. Bounded on the
SE., along lines 1-4; 4-6 by Lot 70, Lot 71; on the SW., along line 7-8
by Lot 62, all of Moragas Estate; on the NW., & NE., along lines 4-5-
6-7-1 by Lot 63-B of the subdivision plan X xxx Containing an area of
ONE THOUSAND TWO HUNDRED (1,200) SQUARE METERS, more
or less.”

of which real estate the ASSIGNOR is the registered owner, his title thereto
being evidenced by Transfer Certificate Title No. 16-06754 of the Zamboanga
Sibugay Register of Deeds; a copy of which is attached herewith as Annex
“A” and made an integral part thereof.

WHEREAS, in order to settle the said loan, the ASSIGNOR has

offered to assign, transfer and convey by way of dation in payment the above-
mentioned property in favor of the ASSIGNEE in full acquittance of his
obligation with the latter, which offer was accepted by the ASSIGNEE.

NOW THEREFORE, for and in consideration of the foregoing

stipulations and covenants and for the full acquaintance of the obligation of
the ASSIGNOR in favor of the ASSIGNEE secured by the real estate
mortgage aforementioned, the ASSIGNOR does hereby ASSIGN,
TRANSFER and CONVEY the aforementioned parcel of land together with
all the improvements found thereon in favor of the ASSIGNEE, free from all

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liens and encumbrances, except those already annotated prior the registration
of the mortgage as aforementioned.

HOMER B. ABAD JOSEPH A. BUENAVISTA

Assignor Assignee

SIGNED IN THE PRESENCE OF:

ACKNOWLEDGEMENT

Philippines }
Ipil, Zamboanga Sibugay} S.S.

BEFORE ME, a Notary Public for and in Ipil, Zamboanga Sibugay, this
December 14, 2018 personally appeared the following:

NAME: PRC No.

HOMER B. ABAD 102-378-38

JOSEPH A. BUENAVISTA 262-892-58

known to me and to me known to be the same person who executed the

foregoing instrument and acknowledge to me that the same is their free act
and voluntary deed.

This instrument, consisting of three (3) pages, including the page on

which this acknowledgement 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.

WITNESS MY HAND AND SEAL this December 14, 2018 in Ipil,

Zamboanga Sibugay.

Doc. No. 1356; OLIVIA CHAN

Page No. 02; Notary Public for Zamboanga Sibugay
Book No. VI; Until December 31, 2018
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Series of 2018. XYZ Commercial, ZSP
Roll of Attorneys No. 23587
IBP No. 822274; 02-01-17
PTR No. 3545692; 02-01-17
MCLE No. 001919; 06-0516
Commission Serial No. 26

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