SHFC-F-03 DEED OF ASSIGNMENT KNOW ALL MEN BY THESE PRESENTS: This Agreement made and executed by and between: (Com Inercinafier referred to as the ASSIGNOR IN FAVOR OF- THE SOCIAL HOUSING FINANCE CORPORATION (SHFC), a private corporation duly organized and existing under and by virtue of Philippine laws, with principal office at renee eee eee represented herein by its duly authorized President, » hereinafter referred to as the ASSIGNEE; WITNESSETH: For and in consideration of the Loan granted by the ASSIGNEI to the ASSIGNOR, = inthe ~— principal = amount’ of @. ine Currency, under the terms of the Loan Agreement executed by the parties which is incorporated hereto by reference, ASSIGNOR hereby assigns unto the ASSIGNEE, its Suecessors-in-Interest, all its rights, title and interest in and over the Lease/Purchase Agreement executed by the ASSIGNOR with its members-beneficiaries, alist of which together with the related documents, is hereto attached as Schedule “1” hereof. THIS AGREEMENT SHALL BE SUBJECT TO THE FOLLOWING CONDITIONS/WARRANTIES: 1, That the ASSIGNOR shall undertake the risk of collection of the amounts due under the Lease/Purchase Agreements which ASSIGNOR shall hold in trust and for the benefits of the ASSIGNEE; 2. The ASSIGNOR warrants the following; a) It is the sole and absolute owner of the receivables under the Lease/Purchase Agreements, free from all liens amd encumbrances, and has the absolute right to transfer the same to the ASSIGNEE. b) Each receivable assigned represents the lease/purchase transaction of the lot subject matter of the lease/purchase agreement between the ASSIGNOR and ‘the member-beneficiary. ©) Each lessee/vendee has the capacity to contract and is qualified beneficiary under Social Housing Finance Corporation’s (SHFC) Community Mortgage Program. d) The receivables assigned are genuine, obligations of the member-beneficiaries. ©) The acceptance of the receivables assigned herein is premised on the inducement and assurance by the ASSIGNOR that the receivables shall be duly honored and liquidated on the due dates thereof. 3. In case of breach of any of the warranties specified above, or in the event of default in the payment of the receivables under the Lease/Purchase ‘Agreement, on the due dates thereof, the ASSIGNEE shall have the option to: legal and subsistinga) sell back to the ASSIGNOR the receivables assigned which are ited by the breach, and the ASSIGNOR shall buy back the outstanding receivables due, including accrued interests, penalties or other surcharges, as stated in the lease/purchase agreement; b) | declare the entire account due and demandable under each assigned receivables and foreclose the mortgage in the unit awarded to the ‘member/beneficiaries. 4. The ASSIGNOR appoints SHFC as its attorney-in-fact with full authority to receive payment from members/beneficiaries, execute, or sign document of sale in favor of the fully paid beneficiaries, in cases where the designated officers of the community association failed or refused to execute such document. 5. The ASSIGNOR shall cause the annotation of this instrument in the ‘TCT’s involved and carried over to the unitized or individual Title. IN WITNESS WHEREOF, I (We) have hereunto affixed my (ou ignature this day of, at COMMUNITY ASOCIATION ‘SOCIAL HOUSING FINANCE ASSIGNOR CORPORATION ASSIGNEE, SIGNED IN THE PRESENCE OF: ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES ) )Ss. Before me, a Notary Public, for and in the above jurisdiction, this day of, 200___, personally appeared: CTC No. ISSUED ON/AT who are known {o me and by me known to be the same persons who exccuted the foregoing Deed of Assignment consisting of ‘C_) pages including this page and they acknowledged to me that the same Is thelr free act and deed as well as the free act and deed of the corporations they respectively represent. WITNESS MY HAND AND SEAL on the date and at the place above written. NOTARY PUBLIC