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CERTIFICATION
This certification is being issued to the Social Housing Finance Corporation for the
processing of substitution and in compliance with SHFC Corporate Circular No. 16-046, Series
of 2016 regarding the Amendments to the Guidelines on Substitution of MBs.
If is understood that any false statement herein shall invalidate the above-stated
Substitution and render the same null and void.
ROY A. HICALDE
President