SPOUSES HUMBERTO P. DELOSSANTOS AND CARMENCITA M. DELOS SANTOS, Petitioners, vs.METROPOLITAN BANK AND TRUST COMPANY, Respondent.D E C I S I O NBERSAMIN, J.:A writ of preliminary injuntion to enjoin an impendin! e"trajudiial forelosure sale is issued only upon a lear s#owin! of a violation of t#e mort!a!or$s unmista%a&le ri!#t.'(#is appeal is ta%en &y t#e petitioners to review and reverse t#e deision promul!ated on )e&ruary '*, +,,+,+ w#ere&y t#e Court of Appeals -CA. dismissed t#eir petition for ertiorari t#at assailed t#e denial &y t#e Re!ional (rial Court in Davao City -R(C. of t#eir appliation for t#e issuane of a writ of preliminary injuntion to prevent t#e e"trajudiial forelosure sale of t#eir mort!a!ed asset initiated &y t#eir mort!a!ee, respondent /etropolitan 0an% and (rust Company -/etro&an%..Anteedents)rom Deem&er *, '**1 until /ar# +,, '**2, t#e petitioners too% out several loans totalin! P'+,,,,,,,,.,, from /etro&an%, Davao City 0ran#, t#e proeeds of w#i# t#ey would use in onstrutin! a #otel on t#eir 3,45s6uare5meter parel of land loated in Davao City and overed &y (ransfer Certifiate of (itle No. I5+'2,7* of t#e Re!istry of Deeds of Davao City. (#ey e"euted various promissory notes overin! t#e loans, and onstituted a mort!a!e over t#eir parel of land to seure t#e performane of t#eir o&li!ation. (#e stipulated interest rates were '4.748 per annum for t#e lon! term loans -maturin! on Deem&er *, +,,1. and ++.+,98 per annum for a s#ort term loan of P9,9,,,,,,.,, -maturin! on /ar# '+, '***..3 (#e interest rates were fi"ed for t#e first year, su&jet to esalation or de5esalation in ertain events wit#out advane notie to t#em. (#e loan a!reements furt#er stipulated t#at t#e entire amount of t#e loans would &eome due and demanda&le upon default in t#e payment of any installment, interest or ot#er #ar!es.9On Deem&er +7, '***, /etro&an% sou!#t t#e e"trajudiial forelosure of t#e real estate mort!a!e4 after t#e petitioners defaulted in t#eir installment payments. (#e petitioners were notified of t#e forelosure and of t#e fored sale &ein! s#eduled on /ar# 7, +,,,. (#e notie of t#e sale stated t#at t#e total amount of t#e o&li!ation was P'1,9'9,2,'.31 as of Oto&er +1, '***.1On April 9, +,,,, prior to t#e s#eduled forelosure sale -i.e., t#e ori!inal date of /ar# 7, +,,, #avin! &een meanw#ile reset to April 1, +,,,., t#e petitioners filed in t#e R(C a omplaint -later amended. for dama!es, fi"in! of interest rate, and appliation of e"ess payments -wit# prayer for a writ of preliminary injuntion.. (#ey alle!ed t#erein t#at /etro&an% #ad no ri!#t to forelose t#e mort!a!e &eause t#ey were not in default of t#eir o&li!ations: t#at /etro&an% #ad imposed interest rates -i.e., '4.748 per annum for two lon!5term loans and ++.+,98 per annum for t#e s#ort term loan. on t#ree of t#eir loans t#at were different from t#e rate of '9.748 per annum a!reed upon: t#at/etro&an% #ad inreased t#e interest rates on some of t#eir loans wit#out any &asis &y invo%in! t#e esalation lause written in t#e loan a!reement: t#at t#ey #ad paid P+,41',447.27 instead of only P',2,+,217.,, &ased on t#e stipulated interest rates, resultin! in t#eir e"ess payment of P742,1*,.27 as interest, w#i# s#ould t#en &e applied to t#eir arued o&li!ation: t#at t#ey #ad re6uested t#e redution of t#e esalated interest rates on several oasions &eause of its dama!in! effet on t#eir #otel &usiness, &ut /etro&an% #ad denied t#eir re6uest: and t#at t#ey were not yet in default &eause t#e lon!5term loans would &eome due and demanda&le on Deem&er *, +,,1 yet and t#ey #ad &een payin! interest on t#e s#ort5term loan in advane.(#e omplaint prayed t#at a writ of preliminary injuntion to enjoin t#e s#eduled forelosure sale &eissued. (#ey furt#er prayed for a jud!ment ma%in! t#e injuntion permanent, and diretin! /etro&an%, namely; -a. to apply t#e e"ess payment of P742,1*,.27 to t#e arued interest: -&. to pay P'4,,,,,.,, for t#e losses suffered in t#eir #otel &usiness: -. to fi" t#e interest rates of t#e loans: and -d. to pay moral and e"emplary dama!es plus attorneyor &an% #ar!es #erein5stipulated, durin! t#e term of t#is Promissory Note, its e"tension, renewals or ot#er modifiations, may &e inreased, dereased, or ot#erwise #an!ed from time to time &y t#e &an% wit#out advane notie to me>us in t#e event of #an!es in t#e interestrates presri&ed &y law of t#e /onetary 0oard of t#e Central 0an% of t#e P#ilippines, in t#e redisount rate of mem&er &an%s wit# t#e Central 0an% of t#e P#ilippines, in t#e interest rates on savin!s and time deposits, in t#e interest rates on t#e 0an%