TUY AND COMMUNITY MULTI-PURPOSE COOPERATIVE

TMVCMPC VILLAGE Brgy. Luna Tuy, Batangas

EXCERPT FROM THE MINUTES OF THE SPECIAL BOARD MEETING OF TUY AND
COMMUNITY MULTI-PURPOSE COOPERATIVE HELD ON JUNE 9, 2018 AT TCMPC
BOARD ROOM, TCMPC VILLAGE BRGY. LUNA, TUY, BATANGAS.

PRESENT:

MARIA LOURDES T. SANCHEZ BOD Chairperson

GINA M. ASEREMO BOD Vice Chairperson
APOLONIO B. DEL LEOLA BOD Member
NANCY C DEL FINADO BOD Member
PERLA M. ANGCAYA BOD Member
JOSELYN D. ORENCE BOD Secretary

ABSENT:

NONE

RESOLUTION NO. 6.3 SERIES OF 2018

“A RESOLUTION APPROVING THE STANDARDIZED POLICIES, REQUIREMENTS AND

PROCESS FOR LOT AQCUISITION and LOT SAVINGS IN TCMPC HOLY SPIRIT
VILLAGE- TCMPC HOUSING DIVISION.”

WHEREAS; the policies approved were thought through and considered the state of affairs of both the
members and the cooperative for continuous organization of principles in housing division;

WHEREAS; the sale of any lots of the real state subdivision owned and to be developed by Tuy and
Community Multi-Purpose Cooperative, shall be subject to following requirements, conditions and
process to wit:
1. VENDEE must be a regular member of TUY AND COMMUNITY MPC with good standing
and shall bind himself to strictly comply with the following essential conditions which are
enforceable by the VENDOR, TUY AND COMMUNITY MPC:

a) Duly accomplished APPLICATION FOR MEMBERSHIP form

b) Membership fee of P 500.00

2. VENDEE shall present a VALID ID and TIN

3. Duly accomplished BUYER’S INFORMATION SHEET.

WHEREAS; the following are the terms and conditions of sale to wit:

TERMS and CONDITIONS OF SALE:

1. Reservation fee of five thousand pesos (P 5,000.00) will be paid upon reservation of any
commercial of residential lots. Reservation fee is valid for 30 days only and is non-refundable in
any case.
2. Subsequent to 30 days of reservation of lot, a 20% down payment of the total contract
price of the commercial or residential lots is payable within twenty-four (24) months, in
consecutive equal instalments. Reservation fee is part of the down payment. Failure to start
down payment after 30 days will be subject to forfeiture of the reservation fee.
3. Following the completion of the down payment, TUY AND COMMUNITY MPC –
HOLY SPIRIT VILLAGE will issue a contract to sell which will be signed by the VENDOR and
the VENDEE.
4. The principal balance of 80% is subject to terms of payment available:
5. IN HOUSE payment through TUY AND COMMUNITY MPC:
 a) Maximum of 5 years with interest rate of 13% per annum- diminishing balance.
b) If the term chosen is 1 year (12 months) only, the principal balance is at 0%
interest.

6. The full payment of the lot, TUY AND COMMUNITY MPC – HOLY SPIRIT
VILLAGE will then initially issue a DEED OF ABSOLUTE SALE and CERTIFICATE OF
OWNERSHIP to the VENDEE. Turnover of the certificate of title will be made, once separate
title is already available

7. In any case that the VENDEE opted to discontinue the purchase of lot, the VENDOR has
the the right to reimburse the fifty (50%) percent (principal only, excluding interest) of whatever
the VENDEE to convey the same subject to reimbursement to VENDEE of 50% of whatever he
has paid (on account of the principal);

8. The terms of condition of sale is subject to change depending on the demand on the time
the lot was purchased.

WHEREAS; the deposit of savings for the lot which the member intends to buy on the condition that a
certain subdivision phase is still on process of documentation, the following terms and conditions are
subject, to wit:

1. The supposed VENDEE must be a regular member of TUY AND COMMUNITY MPC
with good standing in order to avail of savings for a certain lot if intent to buy and shall
bind himself to strictly comply with the following essential conditions which are
enforceable by the VENDOR, TUY AND COMMUNITY MPC:

a. Duly accomplished APPLICATION FOR MEMBERSHIP form

b. Membership fee of P 500.00

2. VENDEE shall present a VALID ID and TIN

WHEREAS; the following are the terms and conditions of sale to wit:

1. Member shall save at least an amount of five thousand pesos (P 5,000.00) as an intent of
the member to buy a certain lot to TUY AND COMMUNITY MPC in their
“PABAHAY ACCOUNT” savings passbook;

2. Subsequent to the initial savings, the member shall save for two years (2 years)
which eventually be the down payment for the lot which the members intend to
buy;

3. Following the 24-month period, the member shall save either one to five years (1-5
years) which eventually count as the principal amortization of the lot which the members intend
to buy;

4. In the event that the member has fully saved for the intended lot to purchase, TUY AND
COMMUNITY MPC shall initially issue a CERTIFICATE OF OWNERSHIP
while the documentation such as conversion, license to sell and subdividing of title
is still on process;

5. Following the completion of all necessary documents, TUY AND COMMUNITY MPC
shall withdraw all the savings from the “PABAHAY ACCOUNT” savings
passbook and then shall issue an official receipt with the withdrawn savings as
payment to the lot which the member intended to purchase;

6. In the instance that the member decided to discontinue from intending to purchase the lot,
TUY AND COMMUNITY MPC shall withdraw the savings from “PABAHAY
ACCOUNT” savings in parts based on the savings the member have deposited
monthly until the whole amount is fully withdrawn.

7. The terms of condition of savings is subject to change depending on the demand on

the time the lot was intended to be purchased.
NOW, THEREFORE: upon the motion of Director Nancy Delfinado and duly seconded by
Director Apolonio De Leola, be it resolved and hereby resolved, that the abovementioned
standardized policies, requirements and process for lot acquisition and lot savings with TCMPC HOLY
SPIRIT VILLAGE- TCMPC HOUSING DIVISION.

RESOLVED FURTHER; that copies of this resolution be forwarded to HOUSING OFFICE

OF TUY AND COMMUNITY MPC.

UNANIMOUSLY APPROVED.

JOSELYN D. ORENCE
BOD – Secretary

Attested:

MARIA LOURDES T. SANCHEZ

BOD Chairperson

GINA M. ASEREMO APOLONIO B. DE LEOLA

BOD Vice Chairperson BOD Member

NANCY C. DEL FINADO PERLA M. ANGCAYA

BOD Member BOD Member