G.R. No. 192877. March 23, 2011.
FACTS
Spouses Ochoa mortgaged their real properties located in Paranaque City in favor of China Banking Corporation. The parties agree that the necessary action for the foreclosure of the mortgage shall be instituted at China Banking’s option which is in the RTC – Makati City. However, Petitioners insist that it was error for the CA to rule that the stipulated exclusive venue of Makati City is binding only on petitioners’ complaint for Annulment of Foreclosure, Sale, and Damages filed before the Regional Trial Court of Parañaque City, but not on respondent bank’s Petition for Extrajudicial Foreclosure of Mortgage, which was filed with the same court.