Credit Surety Agreement

SURETY AGREEMENT KNOW ALL MEN BY THESE PRESENTS :

 This Surety Agreement Agreement is entered entered into by and between: METRO METRO CEBU CEBU COOPRE COOPRENEUR NEURS S SUR SURETY ETY FUND FUND, a nonnon-pr prof oftt trus trustt FUND FUND duly duly regis egiste terred with with the the Bur Burea eau u o !nter !nterna nall "e#en e#enue ue,, with with prin prin$i $ipa pall o%$e o%$e at $&o $&o NAT NAT'' ''( ( Netw Networ or) ) *isa *isaya yas, s, +eso +eson n Buil Buildi ding ng,,  a)osalem St, 'ebu 'ity, represented represented by its 'hairman, Reynaldo A. Gandionco, hereinater reerred to as the . SURETY/

-andCEBU PEOPLES PEOPLES MULT!"PURPOS T!"PURPOSE E COOPERA COOPERAT!#E T!#E , a $oop $ooper erat ati# i#e e duly duly orga organi ni0e 0ed d unde underr 'o 'oop oper erat ati# i#e e 'o 'ode de o the the 1hil 1hilip ippi pine nes s and and registered with the 'ooperati#e De#elopment Authority, with prin$ipal o%$e at 1asil, 'ebu 'ity, represented by its 'hie 23e$uti#e (%$er, Maca$io G. %&e'edo , hereinater reerred to as the  (ENDORSER/

-in a#or oLAND LAND BANK BANK OF PH!L PH!L!P !PP! P!NE NES S , a go#er go#ernme nment nt fnan$i fnan$ial al instit instituti ution on organi0ed and e3isting pursuant to "epubli$ A$t 4566, as amended by "epubli$ A$t 7897 dated 4 February ;88