FORM NO. 92.

Purpose Clause

MUTUAL BUILDING AND LOAN ASSOCIATION

XXXXX

1st. — That the purposes for which said association is formed are to loan to its
stockholders for building and other purposes such part of the capital thereof as may be deemed
expedient, and upon such terms as may be determined by the Board of Directors, which loans
shall be secured by first mortgage on reed estate to the value of at least double the amount
loaned, or by the stock of such stockholders, in which case the amount loaned shall not exceed
80% of the amount actually paid in on such stock, together with the accrued earnings or
dividends thereof.

2nd. — The amount of capital stock of this Association shall be TWO MILLION PESOS,
Philippine currency, divided into 10,000 shares of the par value of P200.00 each, which shares of
stock shall be of those classes designated as Class “A,” Class “B,” and Class “C” and shall be
issued in the proportion demanded by subscribing stockholders.

Class “A” Stock of this Association shall be paid in by the holder in monthly
installments of One Peso per share and shall mature and be payable to such holder at the
face value in cash when the amount paid in and the pro-rata share of profits in excess of
expenses and membership fees, and any losses which may occur, equals P200.00.

Class “B” Stock of this Association shall consist of fully paid-up coupon shares
issued at par and which shares may be surrendered by the holder at any time after one
year from the date of issuance upon his giving 60 days previous notice to the Secretary in
writing. There shall be attached to the share certificates, coupon warrants for such rate of
interest payable at such time, as the Board of Directors may prescribe. Upon the maturity
of the last coupon, the holder shall be entitled to receive the value of his certificate,
together with any profits credited to the same over and above the amounts paid on the
coupon warrants. In the case of surrender of coupon shares, the holder shall be entitled
only to the amount paid thereon together with accrued and unpaid coupons.

Class “C” Stock shall be issued only to borrowers on mortgage security and in
conjunction with loans made on the definite contract plan, which shall consist of shares
of monthly installments of P5.00 per share for the period of five years, which monthly
installments for the full period of the loan shall be deemed to cover both principal and
interest. Such stock shall participate pro-rata in the net profits subject to distribution as
dividends, and upon repayment of the loan with which it is pledged, shall be withdrawn
at regular withdrawal value as established by the Board of Directors.

3rd. — All stockholders of this Association shall pay such membership fees, fines and
forfeitures as may be provided by the Board of Directors.

4th. — That the amount of said capital stock which has been actually subscribed is
_________________ and the following are the names of the persons by whom the same has been
subscribed and the number and class of shares subscribed by each:
Name of
Subscribers No. of Shares Class Amount
_________________ _________________ _______________ ________________
_________________ _________________ _______________ ________________
_________________ _________________ _______________ ________________
_________________ _________________ _______________ ________________
_________________ _________________ _______________ ________________

5th. — The stock subscribed under Class “B” as above set forth, has been paid in
advance, and the proceeds thereof will be paid in the manner hereinbefore described.

6th. — The capital stock not subscribed shall remain in the future Treasury subject to
subscription fro time to time until the full amount thereof may be disposed of.