OFFICE OF THE PRESIDENT NATIONAL HOUSING AUTHORITY MEMORANDUM CIRCULAR NO. _ 2628 AMENDMENT TO MEMORANDUM CIRCULAR NO. 1297: AMENDATORY AND ADDITIONAL GUIDELINES AND PROCEDURES FOR THE LAND ACQUISITION AND BANKING PROGRAM OF THE NATIONAL HOUSING AUTHORITY Pursuant to Board Resolution No. 5759 dated 19 May 2014, the following amendment to Memo Circular No. 1297: Amendatory and Additional Guidelines and Procedures for the Land Acquisition and Banking Program of the National Housing Authority particularly on Price Negotiation is hereby issued 1, AMENDMENT Section 1.2: Price Negotiation and Section 3.5.2: Land Acquisition through Purchase: Procedures and Time Frame For acquisition of lands through purchase, the acquisition price shall be negotiated with the landowner based on the lowest current appraised market value as determined by two (2) accredited appraisers hired by NHA, provided that the result of negotiation shall be submitted to the Board for approval. Should negotiations with landowner fail, NHA shall exercise its power of eminent domain. 2. EFFECTIVITY This Memorandum Circular shall take effect immediately. “a guidance of all concerned. TTY. baro M. CRUZ, General Manager 10 June 2014 (Quezon Memonal Eliptcal Road. Diliman, Quezon City 1100 Te. Nos, 928-4561 10 66; wera nha gov phOFFICE OF THE PRESIDENT NATIONAL HOUSING AUTHORITY EXCERPT FROM THE MINUTES OF THE NATIONAL HOUSING AUTHORITY BOARD OF DIRECTORS MEETING NO. 459 HELD ON 19 MAY 2014 RESOLUTION NO. 5759 19 May 2014 Series of 2014 RESOLVED, that the proposed amendment to Memorandum Circular No. 1297 dated 16 March 1998 Prescribing the Guidelines for the Land Acquisition and Banking Program of the National Housing Authority, particularly Section 1.2 -- to read as follows: for acquisition of lands through purchase, the acquisition price shall be negotiated with landowners based on the lowest current appraised market value as determined by two (2) accredited appraisers hired by NHA be, as it is hereby, APPROVED, subject to further approval by the Board of the negotiation with the landowner, and RESOLVED, FURTHER, that should negotiations with landowners fail, exercise its power of eminent domain, APPROVED by the NHA Board of Directors on 19 May 2014 CERTIFIED CORRECT: IA MAGBALEKA 0, SIACON ting Corporate Secretary, ‘Quezon Memorial liptical Road, Diiman, Quezon Cy 1100 Te Nos, 926-456 to 66; waw.nha.govph NHA shall