MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement made and entered into this ______ day of ______________________ 2014 at Tuguegarao City, Philippines by and between:

The PROVINCIAL GOVERNOR OF CAGAYAN with principal office at the Capitol Hills, Tuguegarao City, Cagayan, herein represented by its Provincial Governor Honorable Alvaro T. Antonio, and herein referred to as the First Party;

and

Municipality of Iguig, Ajat, Iguig, Cagayan represented herein by its Barangay Chairmain, Anita Guim and herein referred to as the Second Party;

-WITNESSETH-

WHEREAS, under Section 33 of RA 7160 otherwise known as the Local Government Code of 1991, Local Government Units may undertake cooperative undertakings for their common benefit;

WHEREAS, the Provincial Governor of Cagayan sees the importance of such joint undertaking for effective governance and in promoting general welfare;

WHEREAS, the Provincial Governor of Cagayan is extending a financial assistance to the Second Party for the

NOW THEREFORE, for and in consideration of the concerns and purposes of the two parties, they voluntarily agree and stipulate the following terms and conditions:

Section 1. The Project. This MOA governs the implementation for the _______________________________________ of Ajat, Iguig, Cagayan;

Section 2. Release and use of Project Fund. The first party shall release to the second party the fund within 21 days from the signing of this MOA. The second party shall use the project only for the above-mentioned project;

Section 3. Period of Implementation. The project has to be implemented within 21 days from the release of the project to the second party;

Section 4. Monitoring. The first party shall monitor the implementation of the project in conformity with the approved program of work and specification submitted;

Section 5. Return of Unused Funds. In the event that the funds will not be totally utilized for the project, the second party shall return the balance to the first party within (30) days from the completion of the project;

Section 6. Report and Liquidation. The second party shall provide the first party with the appropriate report and implementation and will liquidate the project funds with (30) days from completion of the project. The second party, upon request of the first party shall make available papers, documents, reports and records relating to the project for inspection and examination.

Section 7. Amendment. Any modification or amendment of the terms, conditions and covenants of this Memorandum of Agreement in order to be valid and binding must be mutually agreed upon in writing by the parties.

Section 8. Affectivity. This agreement shall take effect on the date of signing hereof by the parties concerned and shall be determined upon satisfactory fulfillment of all terms and conditions embodied herein.

IN WITNESS THEREOF, the parties hereto affix their signatures on this instrument in Tuguegarao City, Philippines this _____ day of _____________________ 2014.

Provincial Governor of Cagayan(First Party)

HON. ALVARO T. ANTONIOGovernor

Municipality of IguigAjat, Iguig, Cagayan

(Second Party)

ANITA GUIMBarangay Chairman

Witnesses

1. ______________________ 2. ______________________ 3. ______________________Republic of the Philippines )Province of Cagayan ) S. S.City of Tuguegarao )

Acknowledgement

Before me, this _______ day of _________________________ 2014, personally appeared:

NAME

________________________

COMMUNITY TAX #

________________________

DATE & PLACE ISSUE

_________________________who personally made known to me to be the same persons who signed this instrument and acknowledged that this is their effect and deed.

WITNESS MY HAND AND NOTARIAL seal, this ___ day of _____________________ 2014 at ____________________________, Philippines.Doc. No. Page No. Book No. Series of 2014.