REPUBLIC OF THE REPUBLIC)

Baguio City )S.S

DEED OF UNDERTAKING
KNOW ALL MEN BY THESE PRESENTS:
I, Juan Llano of legal age, Filipino, single/married, with postal and business address at 43
Mabini Street, Baguio City, after having been duly sworn in accordance with law hereby depose
and state:
1. That I am the President Ser-Bisyo Realty Corporation with office address at Rm 214
2nd Floor, Lopez Building, Session Road, Baguio City.

2. That I am Authorized to execute and sign the Deed of Undertaking evidenced by a

Secretary Certificate dated July 6,2013; as well as to perform any and all such acts
may be necessary and required to carry out the purpose and intent of this Deed;

3. That we are the Developer of the housing Sure- Lot Subdivision located at Irisan,
Baguio City.

4. That the properties for takeout as enumerated below, have a deficiency on the
(Documentary Deficiencies/Technical Deficiencies/Project Development Extension).

HOUSING NAME OF NAME OF LACKING

APPLICATION BORROWER/BUYER PROJECT DOCUMENTS/D
NO. (if any) (Last Name, First Name, (if any) EFICIENCY STATUS/REMARKS
Name Extension, Middle
Name)

Johnson Micah 1. Tax declaration On Process

of House
Sure-Lot
SUBDIVISION

That it satisfies the conditions set by PAG-IBIG Fund allowing takeout even if there is no
full compliance with the documentary and technical requirements.
5. That Ser-Bisyo Realty Corporation undertakes the compliance of the
abovementioned deficiency within sixty(60) working days from the date of takeout.

6. That we hereby authorized the Fund to deduct three percent (3%) of the loan amount
from the takeout proceeds due to us as cash retention for this undertaking.

7. That we have understood that the cash retention shall only be releases to us upon
compliance of the above mentioned deficiency.

8. That if at the time of compliance for the above mentioned deficiency we have a
buyback obligation with the Fund, the cash retention shall be applied first to our
overdue buyback obligation and any excess shall be released to us;

9. That in case we fail to comply with the deficiency within the prescribed period five,
we shall buyback the affected accounts.

10. That we are executing this Deed to attest to the truth the foregoing fact and for
whatever legal purposes or intent this may duly serve.
IN WITNESS WHEREOF, I have hereunto set my hand this ___________________ day of
_______, 2019 at Baguio City, , Philippines.

JUAN S. LLANO
Developer/Affiant

SUBSCRIBED AND SWORN to before me in the City of Baguio, this _______ day of
____________ 2019, by Juan S. Llano who has satisfactory proven to me his identity through
his____________________________ No. ________________ valid until _________________,
that he/she is the same person who personally signed before me the foregoing Deed of
Undertaking and acknowledgement that he/she executed the same.

NOTARY PUBLIC

Doc. No. : _____

Page No. : _____
Book No. : _____
Series of : _____