| HOME DEVELOPMENT MUTUAL FUND | Makati, Metro Manila HDMF CIRCULAR NO. 100-A TO : ALL CONCERNED SUBJECT : AMENDMENT TO THE GUIDELINES ON THE RESTRUCTURING OF LOAN ARREARAGES Pursuant to Board Resolution No. 640, Series of 1992, approving management’s proposal that the restructured loan be classified as a second mortgage, Section 0.2 of Circular No. 100 is hereby amended to read as follows: C, REQUIREMENTS FOR AVAILMENT 2. Loan Classification The loan arrearages to be restructured shall be considered as an additional loan and shall be covered by a new Loan and Mortgage Agreement, and a new Promissory Note, separate and distinct from the original Promissory Note of the borrowers. Signature of the owner of the collateral in the new Loan Agreement and Promissory Note is a must. This Circular takes effect immediately. Makati, Metro Manila 20 July 1993 ZORAYDA AMELL. ‘ALONZO