( Name of insurance Company - heading ) Premium : P

Doc stamp :
INDEMNITY BOND
EVAT :
( SURETY BOND ) LGT :
NOTARY :
( Indemnity Bond pursuant to Sec.12 of Executive Order OTHERS ___ :__________________
No. 1035 ) TOTAL : PhP

KNOW ALL MEN BY THESE PRESENTS:

That we EMELIANA B. DEDAL of Brgy. Marao, Inopacan, Leyte as Principal and
(name of insurance ) a corporation duly organized and existing under and by virtue of
the laws of the Philippines , as Surety , are held and firmly bound unto the
MUNICIPALITY OF INOPACAN, LEYTE as oblige for the sum of Pesos ( Nineteen
Thousand Two Hundred Pesos ) ( PhP 19,290.00) , Philippine Currency , for the
payment of which sum, well and truly to be made, we bind ourselves, our heirs ,
executors, administrators, successors and assigns jointly and severally, firmly by these
presents :
WHEREAS, the above bounded Principal as obligor entered a Deed of Absolute Sale
with the Municipality of Inopacan, Leyte for the sale of a parcel of portion of land
situated in Brgy. Marao, Inopacan, Leyte;

WHEREAS, the obligee requires indemnity security in the above sum to secure the full
and faithful transfer of ownership from the obligor to the obligee;

WHEREAS, this Indemnity Bond is issued in compliance of EO 1035 under Sec. 12.
Indemnity Bond for Untitled Lands. In case where the property acquired is untitled, the
government implementing agency/instrumentality concerned shall require the land owner to
post an indemnity or property bond, the amount of which shall be fixed by the
Provincial/City/Municipal Treasurer concerned on the basis of the market value as determined
by the assessor and as appearing on the current tax declaration of the property. This requirement
shall be dispensed with where the claim for payment does not exceed P50,000.

WHEREAS the Sale of the portion of a parcel of land exceeded P 50,000.00;

WHERAS, based on the Market Value of the property the liability of the surety
company shall in no case exceed the sum of Nineteen Thousand Two Hundred Pesos ).
In case of default or failure of the Principal , the Obligee shall notify the Surety by
sending a Notice of Claim along with the supporting documents to prove default
and /or failure to comply of the Principal ;

NOW THEREFORE, if the Principal shall well and truly perform and fulfill all the
undertakings, covenants, terms and conditions in EO No.1035
The liability of Surety bond under this bond shall remain valid until the name in the tax
declaration or title be in the name of the Municipality of Inopacan, Leyte.

IN WITNESS WHEREFORE , We have set our hands and signed our names this
_______________________ at _________________________

EMELIANA B. DEDAL (InsuranceCompany )

Principal

Signed in the Presence of ____________________ _________________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
PROVINCE OF )
MUNICIPALITY OF
x- - - - - - - - - - - - - - - - - - - - - - - - x
BEFORE ME, this __ ____________________________at
___________________________________________,personally appeared the following
persons, to wit :
Name Competent Evidence of Identity

EMELIANA B. DEDAL

______( rep. of insurance company )

Known to me to be the same persons who executed the foregoing instrument

and acknowledged to me that the same is their free and voluntary act and deed, this
contract consisting of _____( ) pages, including the page on which this
Acknowledgement is written, signed by the Parties and their instrumental witnesses.
WITNESS MY HAND AND SEAL at the place and on the date first above-
written.

Doc. No.
Page No. __
Book No.
Series of 2021.