G.R. No. 139437 - Langkaan Realty Development, Inc. vs. United Coconut Planters Bank

Petitioner Langkaan Realty Development, Inc. (LANGKAAN) was the registered owner of a 631,693 square meter property located at Langkaan, Dasmarinas, Cavite, evidenced by Transfer Certificate of Title No. 111322.
On April 8, 1983, LANGKAAN executed a Real Estate Mortgage in favor of private respondent United Coconut Planters Bank (UCPB) to secure a loan obtained by Guimaras Agricultural Development, Inc. (GUIMARAS) amounting initially to ₱3,000,000.00.
A subsequent loan of ₱2,000,000.00 by GUIMARAS increased the total obligation to ₱5,000,000.00, with the mortgage covering all obligations before, during, or after its constitution.
The mortgage contract contained an acceleration clause whereby any default in payment rendered all obligations due and payable and allowed for immediate foreclosure by UCPB.

GUIMARAS eventually defaulted on its loan obligation, triggering the foreclosure provisions.
On July 28, 1986, UCPB filed a "Petition for Sale under Act No. 3135, as amended" with the RTC of Imus, Cavite.
A Notice of Extra-judicial Sale was issued on August 4, 1986 by the Acting Clerk of Court II and Ex-officio Sheriff, indicating the sale would be held on August 29, 1986, at the main entrance of the RTC of Imus.
The notice was published in the "Record Newsweekly" and certified to have been duly posted in multiple public places.

On August 29, 1986, the property was sold at public auction for ₱3,095,000.00, with UCPB emerging as the highest bidder.
Failing to redeem the property during the redemption period, LANGKAAN’s title was consolidated in UCPB's name on December 21, 1987, and a new Transfer Certificate of Title (No. T-232040) was issued to UCPB.
On March 31, 1989, LANGKAAN, through its counsel, made an offer to buy back the foreclosed property for ₱4,000,000.00, which was subsequently rejected by UCPB in a letter dated May 22, 1989.
On May 30, 1989, LANGKAAN filed a Complaint for Annulment of the Extra-judicial Foreclosure and Sale and of TCT No. 232040 with the RTC of Imus, which later resulted in a ruling in favor of UCPB.
The Court of Appeals affirmed the RTC decision en banc and later denied LANGKAAN’s Motion for Reconsideration in a resolution dated July 28, 1999.

The sole issue raised by LANGKAAN centered on allegations of non-compliance with the posting and publication requirements under Act No. 3135.
Additionally, the petitioner argued that the extra-judicial foreclosure sale was held in an improper venue.
LANGKAAN contended that the sale should have been held in Trece Martires City (the provincial capital) as per the stipulation in the mortgage contract, or at the municipal building of Dasmarinas under Act No. 3135.
The respondent, UCPB, maintained that the sale was properly conducted at the RTC of Imus, relying on Supreme Court Administrative Order No. 7 issued pursuant to Section 18 of B.P. Blg. 129.

Whether the posting and publication requirements under Act No. 3135 were properly complied with despite alleged errors and defects in the Notice of Sale.
Whether the minor clerical discrepancies in the Notice of Sale, including errors in designation and technical description, affect the sufficiency and validity of the notice.

Whether the extra-judicial foreclosure sale should have been held at Trece Martires City, as stipulated in the mortgage contract, or at the municipal building of Dasmarinas, as provided under Act No. 3135.
Whether the sale conducted at the RTC of Imus, as per Administrative Order No. 7 and Section 18 of B.P. Blg. 129, is legally sustainable despite the specific contractual stipulation.
Whether the petitioner’s subsequent failure to object to the venue amounts to a waiver of its right to challenge the sale’s venue.