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    Affidavit of Undertaking

    Uploaded by

    nemo_nadal
    The document is an affidavit of undertaking signed by a representative of a company that received a developmental loan from Pag-IBIG Fund. It commits to returning individual land titles for subdivision lots within a specified period and outlines penalties for failure to do so, including paying a daily penalty fee and having loan proceeds applied to penalties owed. It was signed and notarized to legally attest to the commitments made regarding the loan and land title return process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Affidavit of Undertaking

    Uploaded by

    nemo_nadal
    347 views2 pages
    The document is an affidavit of undertaking signed by a representative of a company that received a developmental loan from Pag-IBIG Fund. It commits to returning individual land titles for subdivision lots within a specified period and outlines penalties for failure to do so, including paying a daily penalty fee and having loan proceeds applied to penalties owed. It was signed and notarized to legally attest to the commitments made regarding the loan and land title return process.

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    doa with assignment

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    rem

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    The document is an affidavit of undertaking signed by a representative of a company that received a developmental loan from Pag-IBIG Fund. It commits to returning individual land titles for subdivision lots within a specified period and outlines penalties for failure to do so, including paying a daily penalty fee and having loan proceeds applied to penalties owed. It was signed and notarized to legally attest to the commitments made regarding the loan and land title return process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    347 views2 pages

    Affidavit of Undertaking

    Uploaded by

    nemo_nadal
    The document is an affidavit of undertaking signed by a representative of a company that received a developmental loan from Pag-IBIG Fund. It commits to returning individual land titles for subdivision lots within a specified period and outlines penalties for failure to do so, including paying a daily penalty fee and having loan proceeds applied to penalties owed. It was signed and notarized to legally attest to the commitments made regarding the loan and land title return process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    REPUBLIC OF THE PHILIPPINES

    _____ -'-- ) SS.


    ~. Ai:'P!t~OVED: '!j7J.r1.!.~ .
    t Date

    I --
    '~
    ._-- -.
    AFFIDAVIT OF UNDERTAKING f{CSEARDCE~lp&I' RLf\~IL;~.:r'PMENT
    I
    -----_ \. 11._.,.
    .._--_ ...__ ._------,.....
    j

    I, _~ , of legal age, Filipino, single/married, and resident of


    ____________________ , depose and state that:

    1. I am the (Position ) of ( Name of Company ), a


    private corporation duly organized and existing under the laws of the Republic of the
    Philippines, with principal place of business located at
    ___________________ , authorized by the Board of
    Directors to transact, negotiate, conclude, enter into and execute agreements and
    other documents with Pag-IBIG Fund regarding its approved developmental loan in
    the amount of (PhP .00). This is evidenced by
    the corresponding Board Resolution/Special Power of Attorney, a copy of which is
    attached and made an integral part hereof.

    2. That under Section 3.2 of the Loan Agreement with Promissory Note dated
    _____ , (the Loan Agreement) the Pag-IBIG FUND agrees to lend to
    ________ (the BORROWER) the owner's duplicate copy of TCT/CCT
    No. covering the land subject of the mortgage which secures the
    developmental loan so that the said certificate of title may be cancelled and replaced
    with individual titles corresponding to the smaller lots into which the land shall have
    been subdivided in accordance with the approved subdivision plan, provided that the
    annotation of the Real Estate Mortgage and Assignment of Take-Out Proceeds on
    the mother title shall be reproduced and carried over on each of the said individual
    certificates of title.

    3. That I hereby commit to return the same within (_) days from the
    date the said certificate of title was released to our company's authorized
    representative for the purpose mentioned above.

    4. That should our company fail to return the individual certificates of title
    corresponding to the individual lots after the lapse of the period agreed upon, for
    whatever reason, except Force Majeure, the same shall constitute an event of
    default which shall warrant the application of Section 6.2 of the Loan Agreement. In
    addition, our company shall be liable to pay a penalty of one-twentieth of one
    percent (1/20 of 1%) of the gross loan vale of the unreturned CCTs or TCTs
    released by the Pag-IBIG FUND per day of delay.

    5. Further, our company agrees that the Pag-IBIG FUND, at its discretion, may apply
    all of the take-out proceeds to the payment of the monthly installment due and to the
    penalty mentioned above. Any unpaid penalty at maturity date shall be capitalized
    and form part of the principal outstanding balance of the loan.

    6. I am executing this undertaking to attest to the truth of the foregoing and for
    whatever legal purpose this may serve.
    IN WITNESS WHEREOF, I have hereunto affixed my signature this day
    of , in _

    Affiant

    SUBSCRIBED AND SWORN to before me this day of _


    ___ , by , who has satisfactorily proven to me his/her
    identity through his valid until
    _______ , that he is the same person who personally signed before me the
    foregoing Affidavit of Undertaking and acknowledged that he/she voluntarily executed
    the same for himself and that that of the business entity herein represented.

    NOTARY PUBLIC

    Doc. No. __
    Page No. __
    Book No. --
    Series of __

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