Republic of the Philippines)

City of __________________) S.S

AFFIDAVIT OF UNDERTAKING

I, JASMIN C. TUMACAO, Filipino, of legal age, for and in behalf of

LIWANAG MANAGEMENT AND DEVELOPMENT CORPORATION (LMDC), a
corporation duly organized, existing under and by virtue of the laws of the
Republic of the Philippines, with office address at 1319 M. Adriatico St., after
being sworn to in accordance with law, depose and state.
1. That I am the Corporate Secretary and General Manager, as well as duly
authorized representative of LIWANAG MANAGEMENT AND
DEVELOPMENT CORPORATION (LMDC) .
2. That I have been duly authorized by the Board of the Directors of
LIWANAG MANAGEMENT AND DEVELOPMENT CORPORATION (LMDC) to
execute this affidavit of Undertaking in compliance with the requirements
of Security Bank Corporation .
3. That LIWANAG MANAGEMENT AND DEVELOPMENT CORPORATION
(LMDC) has only one (1) bank account with Security Bank;
4. Based on the Corporation’s Articles of Incorporation (AOI), it is engaged
in the business of development and construction of real state projects of all
kinds.
5. The corporation does not have any “Real State Projects” or “Real State
Development Estate Projects.” such as subdivision, condominiums,
townhouses, memorial parks, columbaria and other similar projects at the
moment.
6. At the present, the Corporation is engaged in Leasing of Real Properties.
7. Since the Corporation is currently not into “Construction and
Development of “Real Estate Projects” or Real Estate Development
Project”, and it is our position that it is not required to secure a Housing
and Land Use Regulatory Board (HLURB) permit and Anti-Money
Laundering Council (AMLC) Certificate of Registration at this time.
8. Nonetheless, the Corporation undertakes to submit Housing and Land Use
Regulatory Board (HLURB) and Anti-Money Laundering Council (AMLC)
Certificate of Registration to Security Bank should we implement any
“Real Estate Projects” or “Real Estate Development Projects” or when
so required by the nature of business.
9. In order to allow the opening of the said bank account, we hereby release,
waive, quitclaim and forever discharge, Security Bank, its successors-in-
interest, members, directors, officers, employees, agents and
representatives from any all claims, losses or damages, or otherwise,
arising out of, in connection with or incidental to its reliance on this
Affidavit and our representation concerning the nature of our business.
10. We undertake to pay, reimburse and indemnify Union Bank, its
successor-in-interest, members, directors, officers, employees, agents and
representatives of whatever claim made against Security Bank, its officers
and/or employees, by any person or entity, as a result of opening the
Corporation’s account without the Housing and Land Use Regulatory
Board (HLURB) AND Anti-Money Laundering Council (AMLC) Certificate
of Registration.
 11. That I am executing this Affidavit to attest to the truth of the
foregoing and for whatever legal intents or purposes it may serve.

IN WITNESS WHEREOF, I have hereunto set my hand this

_____________________________ in ___________________, Philippines.

JASMIN C TUMAGCAO
Affiant

SUBSCRIBED AND SWORN to before me this ________________________in

the City of _________________, Philippines, affiant exhibited to me his/her
competent proof of identity indicated as _______________ valid until
______________________.

Doc. No. _____. NOTARY PUBLIC

Page No. _____.
Book No. _____.
Series of 2023.