REPUBLIC OF THE PHILIPPINES

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 above-mentioned 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 a 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. T-92579 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 T-92580, 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.