• CHERYL G. CRUZ
The initial 296 units at the Asenso Yuhum Residences-Arao in Barangay Vista Alegre, Bacolod City, will be registered and titled with the Registry of Deeds and the City Assessor, in the name of Home Development Mutual Fund (HDMF), or Pag-IBIG Fund.
Bacolod Mayor Alfredo Benitez has been authorized by the Sangguniang Panlungsod to enter into a memorandum of agreement with the HDMF and private sector proponent WRS Holdings Inc., Scheirman Construction Consolidated Inc., and RS Realty Concepts Developers Inc. on the registration and titling, prior to the turnover of units to awardees.
Benitez earlier said the first four buildings with 296 units, under the Pambansang Pabahay Para Sa Pilipino (4PH) program, will be turned over this month.
“The registration and titling of the units directly in the name of HDMF is in accordance with laws and regulations, and not intended to or does not violate any statute or regulation of any government agency or instrumentality,” the proposed MOA state.
The flagship 4PH program of the Marcos administration aims to provide affordably-priced homes and lower monthly amortization costs for members of Pag-IBIG Fund.
“In the event that the registration and titling of the units directly in the name of HDMF shall be declared invalid or illegal, the LGU and private sector proponent shall immediately cure the invalidity or illegality, and indemnify HDMF for whatever damages which the latter may incur as a result…” the MOA added. | CGC
