DEED OF UNDERTAKING

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF UNDERTAKING (the “DEED”) made and executed by:

______________________________________, a corporation organized and existing under Philippine laws, with principal
office at _______________________, represented herein by its President, ______________________, who is duly authorized for
this purpose (as evidenced by the Secretary’s Certificate/Board Resolution attached as ANNEX “D”) hereinafter referred
to as the “DEVELOPER”.
- with the conformity of -

___________________________ of legal age, single/married to _______________, Filipino citizen, with postal address at
____________________________________, and hereinafter referred to as the “PURCHASER/BORROWER”.

WITNESSETH, THAT:

WHEREAS, the DEVELOPER has applied for purchase of receivables originating from Real Estate Mortgage (REM) account/s
by National Home Mortgage Finance Corporation ("NHMFC") under the Housing Loan Receivables Purchase Program ("HLRPP");

WHEREAS, under the HLRPP, part of the requirements is the submission of the Transfer Certificate of Title (TCT) for the
corresponding property/ies subject of the purchase;

WHEREAS, the DEVELOPER cannot submit the TCT(s) for the property/ies (registered in the name of the
PURCHASER/BORROWER), which is subject of the purchase because the same is/are still to be submitted to the Bureau of Internal
Revenue ("BIR") and thereafter to the Registry of Deeds ("RD") having jurisdiction over the same, for the issuance of
individual/subdivided/new TCT(s) in the name of the PURCHASER/BORROWER;

WHEREAS, the DEVELOPER has agreed to execute an undertaking to deliver to NHMFC within Twelve (12) months from
the execution of this Deed (the “PERIOD”), the corresponding TCT(s) for the property/ies subject of the purchase;

WHEREAS, the DEVELOPER and the PURCHASER/BORROWER, have entered into a Loan and Mortgage Agreement over a
real estate property (the “PROPERTY”) specifically identified as:

Project Name :
Location :
Lot/Block :
Lot/Unit Area :

NOW THEREFORE, for and in consideration of the foregoing the DEVELOPER hereby agrees and undertakes as follows:

1. The DEVELOPER hereby undertakes and binds itself to inform NHMFC of the availability of, and to release and deliver to
the NHMFC within Twelve (12) months from the execution of this Deed (the “PERIOD”), the (1) original Transfer Certificate(s) of
Title (the “TCT") in the name of the BORROWER, free from any lien and/or encumbrance, including the corresponding (2) tax
declaration/s, (3) updated tax receipt/s; and (4) tax clearance/s (the “DOCUMENTS”) covering the PROPERTY purchased by the
BORROWER from the DEVELOPER;

2. The DEVELOPER hereby undertakes and binds itself to release and deliver to the NHMFC prior to the effectivity and upon
submission of this Deed to NHMFC for conformity, the following:

(1) original copy/ies of the Deed of Absolute Sale covering the PROPERTY subject of this DEED, executed
by and between the DEVELOPER or owner of the PROPERTY and the PURCHASER/BORROWER;

(2) the original TCT(s) covering the PROPERTY, which shall be released and submitted by NHMFC together
with/assisted by the DEVELOPER, to the RD concerned, for the issuance of individual/subdivided/new CCT(s); and

(3) the Land Registration Authority ("LRA") copy/ies of the TCT(s) covering the PROPERTY subject of this
DEED.

3. The DEVELOPER undertakes and binds itself to release and deliver to the NHMFC one (1) post-dated check ( PDC), dated
one year after take-out, to serve as guaranty to ensure performance by herein DEVELOPER of its obligations under this DEED. The
amount of the PDC shall cover the Outstanding Principal Balance ("OPB")/Take-out value under the Purchase of Loan Agreement
("PLA"), minus the HOLD-OUT amount as set forth under No. 4 hereof;

4. The DEVELOPER agrees that NHMFC shall be entitled to hold out/retain twenty percent (20%) (" HOLD-OUT") of the
OPB/Take-out value under the PLA, which shall be released in full to the DEVELOPER upon release and delivery by the
DEVELOPER to the NHMFC within the agreed PERIOD, of the DOCUMENTS;

5. The DEVELOPER undertakes to purchase ("BUY BACK") from the NHMFC the REM account/s, in the amount of the Take-
out value (minus the HOLD-OUT amount and all principal payments made by the BORROWER). For this purpose, the DEVELOPER
shall issue, in favor of NHMFC, another (second) Check amounting to the Take-out value minus the HOLD-OUT amount and all
principal payments made by the BORROWER (as computed by NHMFC based on NHMFC's policies and guidelines). The PDC (first
Check) shall be returned to the DEVELOPER upon payment to/encashment of the second Check/credit to the account of/receipt by
NHMFC of the "BUY BACK" amount;

6. The DEVELOPER undertakes to BUY BACK the REM account/s within thirty (30) days from the date of demand by the
NHMFC;

7. The DEVELOPER agrees that in case of "BUY BACK" the HOLD-OUT amount (as set forth in No. 4 hereof) shall no longer
be released to it and shall be forfeited in favor of NHMFC;

8. The DEVELOPER agrees that it shall "BUY BACK" the REM account/s under the following circumstances:

(a) In the event the original TCT(s) and the DOCUMENTS are not available and delivered within the PERIOD due to
cause attributable, in whole or in part, to the fault of the DEVELOPER; or

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 (b) The BORROWER defaults within the PERIOD in the payment of his/her monthly amortizations and other loan
obligations for three (3) consecutive months and the default is due to cause attributable, in whole or in part, to the
fault of the DEVELOPER.

9. The DEVELOPER agrees that its failure to BUY BACK the REM account/s within thirty (30) days from the date of demand
by the NHMFC, shall subject the DEVELOPER to a penalty of one tenth of one percent (1/10 of 1%), per day of delay, computed on
the basis of the OPB/Take-out value;

10. It is understood that upon full payment by the DEVELOPER of such amount under No. 5 hereof, the PLA as well as the
Promissory Note(s) and any and all collateral documents, shall be delivered by the NHMFC to the DEVELOPER within three (3) days
from such payment. After such payment, the NHMFC waives any cause of action arising from the PLA, the Promissory Note(s), and
this DEED, with respect/limited to the particular account/s repurchased;

11. In case the TCT(s) and the DOCUMENTS are delivered by the DEVELOPER to the NHMFC within the PERIOD, and the
NHMFC accepts the full compliance with the requirements/conditions, then this DEED shall have no further force and effect. In
addition, the PDC submitted by the DEVELOPER to NHMFC will be returned and the twenty percent (20%) HOLD-OUT will be
released to the DEVELOPER;

12. DEVELOPER and PURCHASER/BORROWER hereby agree and constitute the NHMFC or any of its duly authorized
representative to be their lawful representative/attorney-in-fact, who is hereby given and granted full authority to transact with, make
follow-ups, claim and accept delivery of/with respect to the subject TCT(s) from, the RD or any other government agency/office
concerned as well as acknowledge receipt thereof, sign and execute any and all agreements/deeds, instruments and documents
pertaining to the release of the TCT(s) subject of this DEED, and do all acts and things as may be requisite, necessary or proper under
the premises and for the accomplishment of the foregoing purposes, as fully to all intents and purposes as DEVELOPER and/or
PURCHASER/BORROWER might or could lawfully do;

13. The DEVELOPER represents and warrants to the NHMFC that all appropriate/necessary corporate and legal actions
have been taken by it to authorize the execution and delivery of this DEED and all other documents related/incidental thereto, and
the performance of any provisions, conditions and covenants or other terms hereto agreed upon;

14. The DEVELOPER agrees and undertakes to shoulder all the costs, taxes and expenses for the processing and transfer of
the corresponding TCT(s), from the owner to the PURCHASER/BORROWER's name; and

15. The DEVELOPER further represents and warrants that there are no other documentary requirements or monetary
obligations that are still uncomplied or unpaid by the PURCHASER that will preclude the transfer of the corresponding TCT(s) in the
PURCHASER’s name.

IN WITNESS WHEREOF, we have hereunto affixed our signatures at _______________________ on _________________ (take-out
date).

____________________________________
Developer
By:

(Name)
President

CONFORME:

PURCHASER/BORROWER: With my marital consent:

(Name here) (Name of Spouse here)

NATIONAL HOME MORTGAGE FINANCE CORPORATION

By:

ROSABELLA C. JOSE
Vice President, Securitization Group

Signed in the Presence of:

Name of witness here Mark Natalio M. Sumisim

ACKNOWLEDGEMENT
Republic of the Philippines)
__________________________) S.S.

Before me, a Notary Public, personally appeared the following:

Name Proof of identity Expiration date

Rosabella C. Jose TIN 120-738-728 n/a

who are known to me to be the same persons who executed the foregoing Deed of Undertaking consisting of four (4) pages including
this page on which this acknowledgment is written and they acknowledged to me that the same is their free and voluntary act and
deed and that of the corporations herein represented.

Witness my hand and seal this _____ day of __________ 2018, at __________________.

Doc. No. ;
Page No. ;
Book No. ;
Series of 2018 .
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