REPUBLIC OF THE PHILIPPINES)

MUNICIPALITY OF SAN JUAN ) SS.

PROVINCE OF LA UNION )

AFFIDAVIT OF PRE-TERMINATION

WE, the Board of Directors of the FEDERATION OF SENIOR

CITIZENS ASSOCIATION OF THE PHILIPPINES (FESCAP) – San Juan, La
Union Chapter with business office address at San Juan LGU Compound, Ili
Sur, San Juan, La Union, Philippines and the Officers of TARABAY SENIOR
CITIZENS ASSOCIATION – San Juan, La Union, with business office
address also at San Juan LGU Compound, Ili Sur, San Juan, La Union,
after having been sworn in accordance with law hereby depose and say:

1. That the Federation of Senior Citizens Association of the Philippines

(FESCAP) – San Juan, La Union Chapter through its pet project, TARABAY
SENIOR CITIZENS ASSOCIATION of San Juan, La Union made a TIME
DEPOSIT placement evidenced by the bank’s Certificate of Time Deposit
bearing Serial Nos. PHP 1548176 with the DEVELOPMENT BANK OF THE
PHILIPPINES (DBP) – San Fernando City, La Union on the date it was made
on January 12, 2021 depositing the amount of ONE MILLION FORTY ONE
THOUSAND THREE HUNDRED FORTY PESOS ONLY (PHP 1,041,340.00)
Philippine currency, repayable on July 20, 2021, or 189 days after the date,
and upon the return of subject Certificate properly endorsed;
(Copy of the Certificate of Time Deposit as described from the foregoing is herewith
attached and marked as ANNEX “A” and hereby made integral part hereof).

2. That on the said maturity date (July 20, 2021), TARABAY SENIOR
CITIZENS ASSOCIATION – San Juan, La Union was not able to withdraw its
placement; thus, the depository bank (DBP-SFLU) automatically renewed
the time deposit placement (inclusive of interest earned) for the same period,
and interest rate as the original placement starting from the maturity date of
the first-time deposit placement of TSCA-SJLU pursuant to its standing
policy on the matter;

3. That as a result of the on-going COVID-19 pandemic, several members

of the association died resulting to increase in the death benefit claims
among surviving beneficiaries of deceased members; thus, to remedy our
need for cash flow to pay our members’ beneficiaries, we are constraint to
pre-terminate our time deposit placement with the depository bank,
Development Bank of the Philippines (DBP) - SFLU

4. That WE, the Board of Directors and Officers of the FEDERATION OF

SENIOR CITIZENS ASSOCIATION OF THE PHILIPPINES (FESCAP) – San
Juan, La Union Chapter and the TARABAY SENIOR CITIZENS
ASSOCIATION of San Juan, La Union, respectively are executing this
affidavit to attest to the veracity of all the above facts in support of our
application/request to PRE-TERMINATE our time deposit placement with
the subject depository bank (DBP) and be allowed to withdraw in full
inclusive of all accrued interest income it has earned thus far; and for all
other legal intents and purposes it may serve.

IN WITNESS WHEREOF, WE have hereunto signed our names below,

this __day of ________________,2021 in San Juan, La Union,
Philippines. Page 1/3
Affidavit of Pre-Termination
 SUBSCRIBED AND SWORN to before me, this ___ day of ___________
2021 in San Juan, La Union affiants exhibited to me their competent proof
of identities as shown below their printed names and signatures above.

________________________________
Notary Public

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