AUTHORITY TO DEDUCT FROM BARANGAY OFFICIAL MONTHLY

HONORARIUM
(Of the Principal Borrower and/or Co-borrower)

To Whom It May Concern:

In consideration of the loan granted to me, ________________________________,

as the principal borrower; and,
_________________________________________________, as the co-maker/ co-
borrower, by the ____________________________________ Cooperative, in the
amount of ____________________________ Pesos (Ps. ___). I/We hereby
authorized you to deduct from the undersigned principal borrower’s
Honorarium every __________________, the amount of
__________________________ Pesos (Ps. __________) as payment of the loan
amortization that is due to said cooperative until the loan including its
Interests and penalty are fully paid. I/We hereby further authorize the
Barangay Council/Treasurer/Cashier to withhold any funds due me/us in case
of my/our separation from my/our work until such time when all obligations
to the Cooperative have been fully paid.

In case the principal fails to pay the obligation, this authority is automatically
applied to the co-borrower.

Respectfully yours,

___________________________ _______________________________
Name and Signature of Employee/ Name and signature of the Co-Borrower
Principal Borrower

Date:_________________ Date:______________________
(For the Barangay Treasurer/Cashier of the Principal Borrower)

The Barangay Treasurer/Cashier

Barangay___________________

Dear Sir/ Madam,

By request of Mr. / Ms. ___________________(member-borrower) of ________________

Cooperative to deduct a certain amount of his/her Honorarium as payment of the
loan s/he obtained, I hereby agree and abide by such request.

Sincerely yours,

__________________________
Barangay Cashier/Treasurer

Date______________________

----------------------------------------------------------------------

(For the Barangay Treasurer/Cashier of the Co-maker)

The Barangay Treasurer/Cashier

Barangay___________________

Dear Sir/ Madam,

In favor of the request of Mr. / Ms. ___________________(co-borrower) to deduct a

certain amount of his/her Honorarium as the co-maker in payment of the loan of
___________________ at the _____________________ Cooperative, I hereby agree and
am willing to abide as stated above.

Sincerely yours,

__________________________
Barangay Treasurer/Cashier
Date:______________________

MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This MEMORANDUM OF AGREEMENT, entered into by and between:

PAGLAUM MULTI-PURPOSE COOPERATIVE,_________Branch, __________,

Misamis Occidental represented by___________________, of legal age, Filipino, _________,
residing at_______________________________ hereinafter called the FIRST PARTY,

BARANGAY OFFICIALS of Barangay__________________________ enumerated and named

below, all of legal ages and residents of said Barangay, hereinafter called the SECOND PARTY;
and

__________________ , of legal age, Filipino, married, Barangay Treasurer of

Barangay_______________________________, hereinafter called the THIRD PARTY,

WITNESSETH

That, the FIRST PARTY has granted a loan to the SECOND PARTY for the amount and
the terms and conditions contained in their Loan Agreements, copies of which are annexed
hereto and make an integral part hereof,

That, in consideration of the said loan and to secure its payments, the SECOND PARTY
hereby assigns and transfers to the FIRST PARTY the amount equivalent to the monthly
amortizations of said loan from the monthly salary/honorarium of the SECOND PARTY, and
for this purpose the latter do hereby grant the THIRD PARTY full power and authority
automatically deduct and retain the aforesaid monthly amortizations for remittance to the FIRST
PARTY;

That, in pursuance to the foregoing authority, the THIRD PARTY hereby undertakes to
make the said automatic deductions, and do hereby bind himself/herself to be severally and
solidarily liable with the SECOND PARTY, in the event of non-remittance to the FIRST
PARTY of amounts remains thus deducted and retained.

That, if the SECOND PARTY shall pay or cause to be paid to FIRST PARTY the total
amount of the aforementioned loan within the term or period above agreed together with interest
thereon and stipulated, then this Agreement shall thereby be discharged; otherwise, it shall
remain in full force and be foreceable in the manner prescribed by law.
 That, in case of separation/termination from the service prior to loan maturity, the
Council shall withhold the amount due to Paglaum MPC coming from all moneys, bonuses,
retirement and other benefits accruing to the Barangay official and remit the amount collected to
Paglaum MPC.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands on
________________, at _____________________________________.

_____________________________ ______________________________
FIRST PARTY SECOND PARTY

SECOND PARTY:

NAME SIGNATURE

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

_____________________________ ______________________________

SIGNED IN THE PRESENCE OF:

1._________________________________ 2.____________________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF MISAMIS OCCIDENTAL ) S.S.
MUNICIPALITY OF _________________ )

BEFORE ME, at___________________, Misamis Occidental , personally the following

persons with their respective Community Tax Certificate; to wit:

Name CTC No. Date Issued Place Issued

1.________________ _____________ ____________ ____________

2. _______________ _____________ ____________ ____________

3._______________ _____________ ____________ ____________

4.________________ _____________ ____________ ____________

5.________________ _____________ ____________ ____________

6. ________________ ______________ _____________ ____________

7._________________ ______________ _____________ ____________

8. _________________ ______________ _____________ ____________

9._________________ ______________ _____________ ____________

10.________________ ______________ _____________ ____________

known to me and to me known to be the same persons who executed the foregoing instrument
and acknowledged the same as their own free and voluntary act and deed.

The foregoing instrument, entitled Memorandum of Agreement, consisting of three (3)

pages including this whereon the Acknowledgement is written, has been signed on each and
every page by the parties and witnesses and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my my hand on the ___________ day of

________________________ at __________________________, Misamis Occidental.
DOC. NO.________
PAGE NO.________
BOOK NO._______
SERIES OF_______