REPUBLIC OF THE PHILIPPINES

TENTH JUDICIAL REGION

REGIONAL TRIAL COURT OF BUKIDNON
BRANCH ____, MALAYBALAY CITY

IN RE: PETITION FOR ISSUANCE

OF WRITS OF POSSESSION OVER
REAL PROPERTIES COVERED BY
TRANSFER
CERTIFICATES
OF
TITLE NOS. T-92579 and T-92580
OF THE REGISTRY OF DEEDS FOR
MALAYBALAY CITY.
MC CASE NO. _________

EQUITABLE PCI BANK

Petitioner.
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EX-PARTE PETITION
Petitioner, EQUITABLE PCI BANK (hereafter the Bank), by
counsel, respectfully states:

1. The Bank is a duly organized and existing corporation

engaged in the business of banking with principal office at the
Equitable PCI Bank Tower I, Makati Avenue, Makati City. It may be
served with processes of this Honorable Court through its counsel
at the address stated below.

For purposes of this action, the Bank has authorized its

Assistant Vice President, PAULINO L. YUSI, to institute the

foregoing Petition for Issuance of a Writ of Possession. A copy of

the Secretarys Certificate confirming such authority is hereto
attached as Annex A.
2. On November 7, 1996, SPOUSES JESUS RAGSAC and FE
RAGSAC, both of legal ages, Filipinos, with address at Valencia,
Bukidnon, Philippines, and LEONAH FEY M. RAGSAC, a minor,
Filipino, and resident of Valencia Bukidnon, Philippines, where
they may be served with the Honorable Courts processes,
(hereinafter referred to as the Mortgagor) executed a Deed of Real
Estate Mortgage over two parcels of land described in and covered
by Original Certificates of Title Nos. P-987 and P-964, in favor of
the Bank, to secure payment of certain loans and other credit
accommodations initially pegged at THREE HUNDRED FIFTY
THOUSAND PESOS (P350,000.00) and such other obligations of
the DEBTORS/MORTGAGORS, obtained from the MORTGAGEE,
which actual availments are evidenced by Promissory Notes Nos.
96-110 and 97-032, executed by the DEBTORS/MORTGAGORS in
favor of the respective CREDITORS in the principal amounts of
P150,000.00 and P200,000.00, respectively.

3. The said instrument of Real Estate Mortgage was duly

registered and annotated in the said Certificates of Title on
November 7, 1996.

4. On failure of the Mortgagor to pay the loan when the same

became due and payable and/or to comply with the terms and
conditions stipulated in the credit instruments, despite demands
for full payment made upon it, the Bank foreclosed the mortgage
and caused the mortgaged properties covered by the abovementioned certificates of title to be sold at public auction to the
highest bidder in cash, in accordance with the provisions of Act
3135, as amended, to satisfy the mortgage indebtedness.

5. On 20th day of December 2002, after due notice and after

complying with the formalities required by law, the Provincial
Sheriff of Malaybalay City sold the mortgaged properties covered by
the above-mentioned certificates of title, at public auction and the
same were sold to the Bank as the highest bidder for PESOS: FIVE
HUNDRED NINETY SEVEN THOUSAND FOUR HUNDRED FORTY
(PHP 597,440.00), which was credited to the partial satisfaction of
the total indebtedness and the corresponding Certificate of Sale
dated January 23, 2003 was issued in favor of the Bank.

A copy of the Certificate of Sale is hereto marked and

attached as Annex B and made an integral part hereof.

6. The Certificate of Sale was duly registered and annotated in

the certificates of titles with the Registry of Deeds for the Province
of Bukidnon on March 3, 2003.

7. The Mortgagor failed to redeem the foreclosed properties

within

the period

of

redemption

granted

them

and

as

consequence thereof, absolute ownership over the above-mentioned

parcels of land was consolidated in favor of the Bank.

8. Thereafter, the Bank filed an Affidavit of Consolidation

with the Office of the Register of Deeds, requesting the Office to
make the corresponding note of consolidation, to cancel Original
Certificates of Title Nos. P-987 and P-964, and in lieu thereof, to
issue a new Transfer Certificates of Title in the name of the
purchaser, the Bank. A copy of the Affidavit of Consolidation is
attached hereto and made an integral part hereof as Annex C.

9. On 11 October 2004, the Register of Deeds for the

Province of Bukidnon issued Transfer Certificates of Title Nos. T92579 and T-92580, in the name of the Bank, after its ownership
over the parcels of land, covered by the same, was consolidated in
its favor. A copy of the said titles are hereto attached and made an
integral part hereof as Annexes D and D-1.

10. Pursuant to Section 7 of Act 3135, as amended, the

Bank, being a purchaser of the foreclosed properties and absolute
registered owner thereof, is entitled to the possession thereof, as a
matter if right, and to the issuance of the writ of possession prayed
for in this petition.

PRAYER

WHEREFORE,

above

premises

considered,

petitioner

EQUITABLE PCI BANK most respectfully prays of this Honorable

Court to issue a Writ of Possession directing the Ex-Office Sheriff
of this Honorable Court or any of his/her deputies to break open
any enclosed fence, door or window to purposely oust therefrom
any and all persons occupying the above-mentioned property
described in Transfer Certificates of Title Nos. T-92579 and T92580, and to install herein petitioner in actual possession of the
said properties together with all the buildings and improvements
existing thereon.

Petitioner likewise prays for such other relief and remedies,

just and equitable under the premises.

RESPECTFULLY SUBMITTED, this 15th day of July 2006,

Cagayan de Oro City, Philippines.