NOTICE OF APPROVAL. SHORT-TERM MEMBER LOAN (STML) PENALTY CONDONATION PROGRAM, lstalment Term) Your application for the Short-Term Member Loan (STML) Penalty Condonation Program has been approved. 1) 50% Downpayment + 50% of the total consolidated loan (sum of outstanding principal and interest ofall qualified delinquent loan/s) in a single ‘payment transaction amounting to _ EIGHT THOUSAND EIGHT HUNDRED TWELVE PESOS AND SIXTY-TWO CENTAVOIS (PHP 8,812.62), on or before 12/22/2021 2) 50% Installment Payment (Restructured Loan, 3% interest p.a,) (RL1) + Monthly installment amounting to_ONE THOI RED EIGHTY-ONE PESOS AND SIXTY-FIVE CENTAVO/S _ (PhP 1,481.65), (Amount of Monthly Amortization) from [02/28/2022] to [07/31/2022] + A penalty of 1% per month shall be charged against RL1’s unpaid amortization after its due date during RLI's payment term. 30% of penalty amounting to _ FIVE THOUSAND ONE HUNDRED FORTY-THREE PESOS AND SIXTY-EIGHT CENTAVOIS _ (PhP 5,143.68) shall be condoned upon full payment of the 50% downpayment on or before {12/22/2021 while the remaining 50% penalty shall be fully condoned upon full settlement of the RL on or before [07/31/2022] ‘The balance of RL should be zero at the end of the term. Otherwise, the unpaid principal of RL1 and the proportionate balance of condonable penalty shall become part of new principal under Restructured Loan 2 (RL2) and shall immediately be due and demandable. Unpaid RL2 shall charged a 10% interest per annum until fully paid, Further, failure to pay the Consolidated Loan in full on or before due date or any partial payment made for the Consolidated Loan under this 50° downpayment scheme shall result to the cancellation of the Penalty Condonation Application, without prejudice to resubmission of the applica ‘within the availment period, and no penalty shall be condoned. However, any partial payment made for the eancelled application shall be treatec regular payment and shall be applied to your oldest outstanding short-term member loan in the following order of priority: penalty fist, then to interest and last to principal. Any excess after posting of payment shall be applied to the second oldest outstanding short-term member loan and