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ReI?ublic of the Philippines CITY OF SANTA ROSA

. Province of Laguna

OFFICE OF THE SANGGUNIANG PANLUNGSOD

EXCERPT FROM THE MINUTES OF 5TH REGULAR SESSION OF SANGGUNIANG PANLUNGSOD OF CTIY OF SANTA ROSA, LAGUNA HELD ON MONDAY, AUGUST 6, 2007 AT THE LEGISLATIVE BUILDING.

Present:

1. Hon. MANUEL G. AUPON

2. Hon. LUISITO B. ALGABRE 3. Hon. MYTHOR C. CENDANA 4. Hon. MA. THERESA C. AALA 5. Hon. ARNEL DC. GOMEZ 6. Hon. JOSE C. CARTANO 7. Hon. ANTONIA T. LASERNA 8. Hon. ARTURO M. TIONGCO 9. Hon. RONALD IAN A. DE GUZMAN

10. Hon. PAULINO Y. CAMACLANG, JR. 11. Hon. RAYMOND-RYAN F. CARVAJAL

Absent:

1. Hon. ROMEO P. AALA

*****************

- Vice-Mayor, Presiding Officer

- Member - Member - Member - Member - Member - Member - Member - Member - Member - Member

- Member

RESOLUTION NO. 103-2007 " (On Motioned by the Committee on Laws and Government)

A RESOLUTION authorizing Mayor Arlene Arciltas-Nazareno to sign a MEMORANDUM OF AGREEMENT relative to the Salary Loan Program extended by the Development Bank of the Philippines to the officer and employees of the City Government of Santa Rosa.

UNANIMOUSLY APPROVED.

C E RT I F IC AT I O N:

I hereby certify to the correctness of the quoted resolutJ9Ri. /

· CYNTH~~GOMEZ · Secretary to t";feM Sang. Panlungsod

~j)y -03~ APPROVED:

' J ARL¥rffAR~-~RENO

City Mayor

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' DEVELOPMENT BANK OF JHE PHILIPPINES ,. Sta Rosa, Laguna Branch .f

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This Memorandum of Agreement (the "Agreement") made and executed by and between:

The Development Bank of the Philippines, a financial institution created and operating purs1Jant to the provisions of Executive Order No. 81 dated December 3, 1986, as amended with principal office at the DBP Building, Sen. Gil Puyat Avenue. Makat1 City. Metro Manila, hereinafter referred to as the "DBP'".

and

CITY OF ST A. ROSA, LAGUNA a government instrumentality duly organized and existing under the laws of the Philippines, with principal office at City of Sta. Rosa, Laguna, hereini;lfter referred to as the ',' Participant"

WITNESSETH :

WHEREAS, DBP has launched a program (the "Program") of providing financial assistance in the form of salary loans to qualified officers and employees of the Participant (the "Borrower') in accordance, with the Salary Loan Program Guidelines for Officers and Employees of the LGUs. Government Agencies/Offices/Corporations (the "Program Guidelines"}, a copy of which is hereto attached and made integral part hereof, ·

WHEREAS, in consideration of DBP's agreement to extend salary loans to its offic~i" and employees ('the Loan"), the Part1c1pant has agreed to perform certain obligations relative to its accreditation, the eligibility of such officers and employees, and the remittance to DBP of t:- ~ mr.·nthly amortizations due, in accordance with the Program Guidelines and the terms and conditions set fortl·,

NOW. THEREFORE, for and in consideration of the above premises, the parties hereby agree, as follows: 1. OBLIGATIONS OF THE PARTICIPANT

The Participant obligates itself and agrees that during the term of this Agreement it shall:

a) Screen qualified applicants and ensure that the salary application forms ("Salary Application / Agreement Forms") are duly accomplished

b) Identify the duly authorized and responsible officers or employees who will indorse and -sign the pertinent loan documents required by DBP .

c) Certify that each applicant and co-maker possesses the necessary qualifications of an eligible borrower and co-maker.

d) Collect or cause the collection of the amort1zat1ons due form the Loans of Borrowers ~hrough automatic payroll deductions commencing on the payroll month immediately follow::-ig the dote of release of the Loans.

e) Remit to DBP the amort,zat,ons due from the Borrower within three(3) banking days from due · date;

f) Withold and remit the corresponding amount due to DBP from all monies and benefits accruing to any Borrower who has been terminated / separated from the service .

g) Open a deposit account with DBP in accordance with paragraph 11, No. 2 of the Program Guidelines, and

h) Undertake to continue supporting fund generation efforts of the Bank and maintain the required Average Daily Balance (ADB) for its deposit accounts under the Program.

2. OBLIGATIONS OF THE BANK

DBP obligates itself and agrees to provide the Participant, from time to time, with the following:

a) A copy each of the Sala1 y loan Application / Agreement Forms duly accomplished and signed ·

b) A copy of each of the Special Powers of Attorney executed by the Borrowers 1n favor of the DBP. authorizing the latter to collect and receive payment for the amortization du~ from the Borrower; and ·

c) A list of Participant's officers and employees whose Salary Loan Applic3tions/Agreement Forms have been approved, stating among others the amounts approved. the dates of approval, and the sch·edules of amortization payments, and

d) Written notice of !he Borrower's accounts in arrears .

-Page 2 of 3, Memorandum of Agreement - Salary Loan Program

3. OTHER CONDITIONS

A. Limitation on Total Outstanding Loans - The Participants shall open and maintain a deposit account with DBP with an Average Daily Balance (ADB) of at least PESOS: ONE MILLION (R- 1,000;000,.QQL The total outstanding loans granted to the employees and officers of the Participant under the Program shall in no case exceed sixty (60%) percent of the total deposit ADB of the Participant's deposits during the past three(3) months reckoned from the preceding month end. ·

B. Past Due Accounts/ Cancellation of Facility

In the event the Participant fails to remit to DBP any amortization due,

a. its account shall be considered past due;

b. its accreditation shall be automatically suspended.

c. eligibility of its officials and employees to participate in the. Program shall automatically be suspended and shall be reinstated on ly after all payments due and corresponding penalties are updated.

C. Determination of Eligibility - Any provision of this Agreement to the contrary notwithstanding , the determination of the eligib ility of the Participant and/or Borrower under this Program shall be solely determined by DBP.

IN WITNESS WHEREOF, the parties through their respective authorized represeotatives have hereunto signed this Agreement this day of , at ___ _ ______ _

DEVELOPMENT BANK OF .THE PHILIPPINES By .

SVP ANTOLINA Gi. BUTALID - - ~ - ­Signature over Printed Name

Head, SRMO Luzon Urban Beltway Designation

CITY OF STA. ROSA, LAGUNA

By:

HON. ARLENE ARCILLAS- NAZARENO Signature over Printed Name

Cit~or Designation

LAURA A. SY Signature over Printed Name

City Treasurer Designation

SIGNED IN T H E PRESENCE OF:

MA. ANGELA A. HOMBREBUENO Signature over Printed Name

NELIA F. CARVAJAL Signature over .Printed Name

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_i:iage 3 of 3, _Memorandum of Agreement - Salary Loan Program

ACKNOWLEDGMENT

REPU13LIC OF THE F)HILIPPI NES ) Province of Laguna ) S S City of Sta. Rosa )

At the above. stated locality, on this day of ________ _ before me personally appeared:

Name ANTOLINA G. BUTALID

-·- . - · -·--- -ARLENE ARCILLAS- NAZARENO'

.. ···- . -· -. -- -· ·---·· - -· LAURA A. SY .. -- ~ ·-·- - -- -··- ----

In thei, capacity as:

_ H_e_a<\ ~~_MO ~-uzgn Ur~a_!2~eltw9J_ _

__ City M~or_ _ _ ______ ___ - - - -~-

Community Certificate No. Date/Place Issued

of the

of the

Development Bank of the Philippines

City of Sta. Rosa, Laguna

City_Jreasurer __ - -- ····----·----- of the City of Sta. Rosa. Laguna

Known to me to be the same persons who executed the foregoing instrumerit and acknowledged the same to be their free and voluntary act and deed as well as those of the corporation and instrumentali ty of the Government herein represented.

This instrument refers to a MEMORANDUM OF AGREEMENT, consisting of three (3) pages including this page where on this acknowledgment 1s written, signed by the parties and their witnesses on the signature page hereof and initialed on the pages and sealed with my notarial seal.

Doc. l\lo. Notary Public Page No. ___________ _ _ Book No.

-··· -- --SERIES OF 2007.