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Sample Format for CA Board Resolution of Defaulting Members - Step 1

SHFC sample format for step one of CA board resolution of defaulting members

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COMMUNITY ASSOCIATION LETTERHEAD
ADDRESS
CONTACT TELEPHONE/CELL NUMBER

BOARD RESOLUTION NO. _____, Series of 200___
WHEREAS, the following member-beneficiaries of the CA NAME defaulted in the
payment of their monthly amortizations under the Community Mortgage Program:
Name of MemberBeneficiary

Name of
Spouse

Block
No.

Lot
No.

Months
In Arrears

1. Juan dela Cruz
2.
3.
4.
5.
WHEREAS, the above-named member-beneficiaries were reminded to comply
with their obligations through demand letters duly served to them but failed to
update/pay for their arrearages;
WHEREAS, in a meeting held on _______________, the Board of Directors of
CA NAME, on motion of Director _______________ and duly seconded by Director
_______________ moved for the declaration of their accounts in default and to
consequently terminate their Lease Purchase Agreement;
WHEREAS, the Board of Directors of CA NAME in a majority vote decided to
approve their substitution;
NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED to
terminate the Lease Purchase Agreements of the above named member-beneficiaries.

CERTIFICATION
I, _______________, the duly elected Secretary of _______________ do
hereby certify that the Board of Directors in a meeting held on _______________,
approved the foregoing resolution in favor hereof.
____________________
Secretary
APPROVED:
____________________
Board of Director

____________________
Board of Director

____________________
Board of Director

____________________
Board of Director

____________________
Board of Director

____________________
Board of Director

ATTESTED BY:
____________________
President

Page 2 of Board Res. No. _____, Series of ______

Republic of the Philippines ) S.S.
_____________________ )

SUBSCRIBED AND SWORN to before me, a Notary Public for and in
____________________ this _______ day of ____________________ exhibiting to me
their Community Tax Certificate Number/s under their names.

NOTARY PUBLIC
Doc. No. ______
Page No. ______
Book No. ______
Series of ______
 
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