Undertaking.docx

For Developer with incomplete documentary/technical requirements And housing project with incomplete development REPUBLIC OF THE REPUBLIC) ________________________)S.S DEED OF UNDERTAKING KNOW ALL MEN BY THESE PRESENTS: I, _______________________ of legal age, Filipino, single/married, with postal and business address at ____________________ after having been duly sworn in accordance with law hereby depose and state: 1. That I am the President _____________________ with office address at _____________________________________. 2. That I am Authorized to execute and sign the Deed of Undertaking evidenced by a Secretary Certificate dated July 6,2013; as well as to perform any and all such acts may be necessary and required to carry out the purpose and intent of this Deed; 3. That we are the Developer of the housing ________________ located at ___________________________________________ 4. That the properties for takeout as enumerated below, have a deficiency on the (Documentary Deficiencies/Technical Deficiencies/Project Development Extension).

HOUSING APPLICATION NO. (if any)

NAME OF BORROWER/BUYER (Last Name, First Name, Name Extension, Middle Name)

RIVERA, DEO G.

NAME OF PROJECT (if any)

LACKING DOCUMENTS/D EFICIENCY

STATUS/REMARKS

NORTH FORBES SUBDIVISION

That it satisfies the conditions set by PAG-IBIG Fund allowing takeout even if there is no full compliance with the documentary and technical requirements. 5. That _____________________________ undertakes the compliance of the abovementioned deficiency with __________________(60) working days from the date of takeout. 6.

That we hereby authorized the Fund to deduct _________________percent (3%) of the loan amount from the takeout proceeds due to us as cash retention for this undertaking.

7. That we have understood that the cash retention shall only be releases to us upon compliance of the above mentioned deficiency. 8. That if at the time of compliance for the above mentioned deficiency we have a buyback obligation with the Fund, the cash retention shall be applied first to our overdue buyback obligation and any excess shall be released to us; 9. That in case we fail to comply with the deficiency within the prescribed period five, we shall buyback the affected accounts. 10. That we are executing this Deed to attest to the truth the foregoing fact and for whatever legal purposes or intent this may duly serve.

For Developer with incomplete documentary/technical requirements And housing project with incomplete development

IN WITNESS WHEREOF, I have hereunto set my hand this ___________________ day of _______, 20___ at ________________________________________________, Philippines.

_________________________ Developer/Affiant

SUBSCRIBED AND SWORN to before me in the City/Municipality of ___________________________ this _______ day of ____________________, by _____________________________________________ who has satisfactory proven to me his/her identity through his/her ____________________________ No. ________________ valid until _________________, that he/she is the same person who personally signed before me the foregoing Deed of Undertaking and acknowledgement that he/she executed the same.

NOTARY PUBLIC

Doc. No. : _____ Page No. : _____ Book No. : _____ Series of : _____