Original Certificate of Title: THOUSAND (50, 000) SQUARE METERS More or

CONTRACT OF ANTICHRESIS
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT OF ANTICHRESIS, made and executed by and between:
RODRIGO PANELO, of age, single, residing at Blk 3, Lot 12, Sunny Meadows
Subdivision, Kidapawan City hereinafter called the DEBTOR; and
HENRY SEE, of age, single, residing at Blk 1, Lot 21, Moonwalk St., Bulong
Subd., Kidapawan City, hereinafter called the CREDITOR;
WITNESSETH
That the DEBTOR hereby acknowledges to be indebted to the CREDITOR in the

principal sum of FIFTEEN MILLION PESOS (P15, 000, 000, 000.00) due and payable
since April 30, 2020, with interest at the rate of Six (6) percent per annum & from April
30, 2018, the date of the loan;
That the accrued interest alone now due and payable on the principal amounts to
Two Million Six Hundred Ninety Nine Thousand Eight Hundred Sixty Five Pesos (P
2, 699, 865) as of March 31, 2021;
That the total amount owing by the DEBTOR to the CREDITOR, including the
interest is Seventeen Million Six Hundred Ninety Nine Thousand Eight Hundred
Sixty Five (P 17, 699, 865) as of this date.
That the DEBTOR, in order to be able to pay the CREDITOR, is the owner in fee
simple of a five hectare (5 has) Rice Farm and five hectares (5 has) Coconut Farm
respectively, situated in Brgy. Mua-an, Kidapawan City, and a 500 square meters parcel
of land with a Commercial Building in Poblacion Kidapawan, more particularly
described as follows, to wit:
Original Certificate of Title

No. V-8296
“Lot No. 2061, Pls-222”
“a parcel of land containing an area of FIFTY

THOUSAND (50, 000) SQUARE METERS more or
less, being a portion of Lot No. 2061, Pls-222 situated at
Brgy. Mua-an, Province of Cotabato, Island of
Mindanao, with a total area of Ninety Nine Thousand
Nine Hundred Ninety Four (99, 994) square meters,
more or less and covered by Original Certificate of Title
No. V-8296”

No. V-838949
“Lot No. 2062, Pls-222”
“a parcel of land containing an area of FIFTY

THOUSAND (50, 000) SQUARE METERS more or
less, being a portion of Lot No. 2062, Pls-222 situated at
No. V-8296”

No. V-86464748
“Lot No. 3333, Pls-222”
“a parcel of land containing an area of FIVE

HUNDRED (500) SQUARE METERS more or less,
being a portion of Lot No. 3333, Pls-222 situated at
No. V-8296”
That the CREDITOR by virtue hereof shall have the right to cultivate, and receive
the fruits of, the above-described land, with the obligation of applying the net proceeds
thereof to the extinguishment of the above-mentioned loan;
That the net market value of the fruits obtained or harvested at the time of the
application thereof to the interest and principal shall be the measure of such application
of payments;
That the parties hereby agree that the DEBTOR shall not reacquire the possession
and enjoyment of the above-described property without first having totally paid what he
owes the CREDITOR: Provided, however, that in no case shall the right of possession
and enjoyment on the part of the CREDITOR continue for more than _______________
years, after which the right of possession and enjoyment shall revert automatically to the
DEBTOR, without prejudice on the part of the CREDITOR to avail himself of the other
remedies provided for by existing law.
IN WITNESS WHEREOF, the parties hereto have hereunto signed this contract
the day and year first above written, in the municipality of 17th day of April, at
Kidapawan City province of North Cotabato, Philippines.
HENRY SEE RODRIGO PANELO

(Creditor) (Debtor)
Passport No. 554735485085 Drivers License 724876539
SIGNED IN THE PRESENCE OF:
LENIE R. GO SARA D. ROBREDO

(Witness) (Witness)
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)

PROVINCE OF COTABATO )S.c.
CITY OF KIDAPAWAN )
x----------------------------------------x
BEFORE ME, this 17th day of April at Kidapawan City, Cotabato, Philippines,
personally appeared the above-named parties, who purports to be the same persons who
executed the foregoing instrument and they acknowledged to me that the same is their
own free will act and deed.
This Deed of USUFRUCT consists of three (3) pages including the page where
this acknowledgment is written and signed by the parties in the left side of every page
hereof.
WITNESS MY HAND AND OFFICIAL SEAL.
Doc. No: ____; ATTY. LAVINIA HERBERT

Page No. ____; Roll No. 63851
Book No. ____; Notarial Commission No. 116-2017/ 31Dec2018
Series of 2021. TIN No. 293548217/ PTR NO. 8289305-03Jan2018
IBP NO. 1085804/North Cotabato-05January2018
Date of Admission to the Bar: 16 October 2014
MCLE Compliance No. V - 0010135
0994004000- [email protected]

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CONTRACT OF ANTICHRESIS

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF ANTICHRESIS, made and executed by and between:

That the DEBTOR hereby acknowledges to be indebted to the CREDITOR in the

Original Certificate of Title

“a parcel of land containing an area of FIFTY

Original Certificate of Title

“a parcel of land containing an area of FIFTY

Original Certificate of Title

“a parcel of land containing an area of FIVE

HENRY SEE RODRIGO PANELO

SIGNED IN THE PRESENCE OF:

LENIE R. GO SARA D. ROBREDO

REPUBLIC OF THE PHILIPPINES)

WITNESS MY HAND AND OFFICIAL SEAL.

Doc. No: ____; ATTY. LAVINIA HERBERT

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