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MEMORANDUM OF AGREEMENT This Memorandum of Agreement made and executed by and between

Samahang Kapatatirang Kababaihan ng Pulilan is hereby registered with the Cooperative Development Authority in accordance with RA 9520 with address at 185 St.. Joseph St.., Dampol 2nd A, Pulilan, Bulacan herein after referred to as “SKKP MPC” and represented by its General Manager Carmelita G. Santos -And-

WITNESSTH: That WHEREAS, in order to provide financial assistance to the officers and employees of qualified government or private entities/agencies to its Personnel in accordance with the Salary Loan Services guidelines

WHEREAS, in consideration of the Cooperative’s agreement to extend the loan to the qualified personnel , the Entity/Agency agrees to effect the necessary pay check/payroll Deductions against the salaries of the personnel, and to remit the same to Cooperative for application to that payment of the of the Loan in accordance with Salary Loan Service Guidelines, and subject to the term and conditions hereinafter set forth. NOW, THEREFORE, for and in consideration of the above premise, the Cooperative and Entity/Agency hereby agree as follows:

SECTION 1: COVENANT OF ENTITY/AGENCY This Entity/Agency covenants and agrees that during the terms of this agreement the Entity/Agency shall: (A) Certify that the borrower and co-maker possess the necessary qualifications of an Eligible Borrower or Co-maker in accordance with the program guidelines. (B) Collect or cause the collection o f the installment/amortizations due on the loan from the Borrower through payroll deduction to commence on the payroll date immediately succeeding the date of loan was granted.

Remit to the cooperative amount deducted from the borrower every 10th of the succeeding month after each payroll deduction date. For the purposes, the Entity/Agency to issue and deliver its check covering the accumulated amortizations payments made deducted from the borrower’s payroll. The cooperative shall issue a receipt for each remittance. (C) In case of transfer of assignment of the borrower, where he no longer receives his salary from his former work station. Loan shall be transferred to the cooperative’s servicing branch nearest to the Borrower’s new work station. To facilitate collection, the Entity/Agency shall instruct the Disbursing Officer of the new work station where the borrower is based, to deduct every payday the appropriate amortization from the salary of the borrower and within three (3) banking days from every payday, to remit the amount to the cooperative where the account is transferred.

CARMELITA G. SANTOS

CLARITA D. FELICIANO

LAURA P. REYES