DEED OF RECONVEYANCE

KNOW ALL MEN BY THESE PRESENTS:

I/WE_________________________________________________ of legal age, Filipino,

with postal address at: __________________________________________ recites:

1. The VENDOR hereby assigns, transfer and convey unto and in my/our favor a
“Deed of Absolute Sale” dated _______, acknowledged before ______________,
a Notary Public for and in _____________, and entered into his Notarial Registry
as Document No. ____, Page No. _____, Book No. ______, Series of ____,
affecting a ___________ more particularly describe as follows:

The above-describe ____________ shall hereinafter be referred to as “Subject

Property”.

2. Of the total contract price provided in the “Deed of Absolute Sale”, I/We have an
outstanding obligation in the amount of
PESOS:_____________________________________________
(Php________________), which I/we intend to be paid out of the proceeds of
the loan which I/we applied for with ___________.

3. To secure my/our said loan, a mortgage was constituted on the Subject Property
in favor of _____________________________________.

4. The transfer of title to the Subject Property in my/our name was made by
___________ relying on my/our undertaking that my/our aforesaid outstanding
obligation shall be paid in full from the proceeds of my/our loan.

5. However, for various reason, I/we failed to pay in full my/our outstanding
obligation to the _________________.

NOW THEREFORE, premises considered I/we hereby RECONVEY absolutely and

unconditionally unto ________ the Subject Property, together with all the improvements
thereon.

I/we acknowledge that the payments I/we have so far made be applied to the broker’s
commission, registration and transfer taxes, fees, charges and other expenses that may
have been incurred, or will be incurred, by the ___________ by reason of the Deed of
Absolute Sale and this Deed of Reconveyance, Should my/our payments be not
sufficient for the said expenses, I/we hereby undertake to reimburse ______________
for the deficiency.

Finally, I /we hereby release and forever discharge ____________________ from any
and all claims and demands whatsoever, and I/we bind and obligate myself/ourselves to
indemnify ______________ for any and all liabilities, arising wholly, partially, or directly
from the Deed of Absolute Sale and other documents executed in connection thereto.

IN WITNESS WHEREOF, the VENDOR and VENDEE or through their respective

representatives have hereunto signed this instrument on this ____ day of ____________ 2005 at
________________.
 _______________________________
VENDOR
By:

_________________________________
Chairman of the Board

_______________________________________
VENDEE
By:

____________________________
President

SIGNED IN THE PRESENCE OF:

_______________ _______________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

) S.S.

BEFORE ME, a Notary Public and in the City of __________ this ____ day of
____________ 200__ personally appeared the following:

Name Comm. Tax Cert. No. Date/ Place Issued

know to me to be the same persons who executed the foregoing instrument and acknowledged
to me that the same is their free voluntary act and deed as well as of that corporations herein
represented.

This instrument refers to a Deed of Conveyance consisting of three (3) pages including
this page wherein the acknowledgment is written and signed by the parties and their
instrumental witnesses.

WITNESS MY HAND AND SEAL on the date and place first above written.

Doc. No. ;
Page No. ;
Book No. ;
Series of 2008.