HQP-HLF-007

(HL Restructuring - HDMF Circular No. 300)

________________
(Branch)

NOTICE OF APPROVAL

_____________________
Date
HL Account No. ____________
_________________________
_________________________
_________________________

Dear ____________________;

We are pleased to inform you that your application for Pag-IBIG Housing Loan
Restructuring and Penalty Condonation has been approved on ___________________ in the
amount of _________________________________________________ (P____________)
Philippine Currency.

In line with this approval, you are hereby requested to sign and return to us the attached
Promissory Note and Loan Restructuring Agreement as well as the Deed of Revocation of
Notice of Cancellation (if applicable) within fifteen (15) days upon receipt of this notice.
Otherwise, the said approval shall be deemed cancelled.

Your monthly amortization shall be __________________________________________

_______________________________________________________ (P__________________),
with subsequent payments every ________ day of the month until the loan is fully paid. In
addition, if you are presently employed. You are hereby requested to pay your first monthly
amortization in advance directly to the Fund.

Should you fail to pay the monthly amortization and/or other loan obligations when due,
you shall pay a penalty at a rate of 1/20 of 1% of the amount due for every day of delay until full
settlement thereof. In the event of default, unpaid monthly payments shall continue to be
charged with a penalty at a rate of 1/20 of 1% of the amount due for every day of delay until full
settlement thereof. In addition, all penalties condoned (if any) shall be restored and shall
become due and demandable together with the outstanding loan, accrued interest, penalties,
fees and other charges. Simultaneously, HDMF shall immediately institute foreclosure
proceedings.

Conversely, should you make accelerated payments, the amount you paid in excess of
the required monthly amortization (excluding membership contributions) shall be treated as
future amortization, unless you expressly request otherwise upon payment and provided the
amount is equivalent to at least one (1) monthly amortization, the said amount may be applied
to the principal.

To ensure proper implementation, please notify us immediately of any changes in your

billing address. Should you have any query/clarification regarding this notice, please visit our
office or coordinate with Mr./Ms. ___________________________ of the ________________ at
telephone no/s. _____________________ or email at ________________.

Very truly yours,

_____________________________
HDMF Authorized Signatory
Conforme:

__________________________________
Signature of Borrower over Printed Name

(Revised/December 2011)