Isefa Homeowners' Association, Inc.

January 16, 2020 CERTIFICATE OF TAX EXEMPTION NO. CMP-002-20 CERTIFICATE OF TAX EXEMPTION issued to Name of Seller TIN Address AAA as represented by Atty-in-fact BBB 000-000-000 _______________________ -and- Name of Homeowners Association (HOA) TIN Address Isefa Homeowners' Association, Inc. 000-000-000 Km. 5, Zone 7, Brgy. San Felipe, Naga City This certifies that the Deed of Absolute Sale entered by the Seller and the HOA dated July 17, 2018 over a parcel of land described below, to wit: Transfer Certificate of Title Area (sq.m.) Transferred (sq.m.) Area of CMP (sq.m.) Location 39361 20,000 18,622 18,622 Barrio of Pacol, City of Naga, Island of Luzon being a Community Mortgage Program (CMP), 1 is not subject to capital gains tax pursuant to Section 32 (b) of Republic Act (RA) No. 7279 or the Urban Development and Housing Act of 1992. The transaction is, however, subject to documentary stamp tax under Section 196 of the 1997 Tax Code, as amended. It is, however, understood that this Certificate of Tax Exemption is never intended and shall not be construed as giving authority to the concerned Register of Deeds to effect transfer of the land title in the name of the buyer without the necessary certificate of authority to register issued by this Bureau. In this regard, this Certificate shall be presented to the Revenue District Office (RDO) concerned in order for the latter to issue the Certificate Authorizing Registration (CAR). The CAR shall only be issued after the submission of the requirements provided under Revenue Memorandum Order (RMO) No. 15-2003. The Bureau of Internal Revenue (BIR) shall conduct verification and post-audit that the actual occupants of the property transferred under the CMP are qualified beneficiaries and therefore, the seller is entitled to exemption from capital gains tax or income tax imposed under Sections 24 (D) (1) and/or 27 (D) (5) the 1997 Tax Code, as amended. This Certificate is being issued on the basis of the facts and documents as represented and submitted. However, if upon investigation, the BIR ascertains that the facts are different, then this Certificate shall be considered null and void. Issued this 16th day of January, 2020. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue Footnotes 1. Shall be proportionately distributed to the association's qualified member-beneficiaries (See Annex).