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Adjustment of Condominium Dues
magie - Tuesday, Dec 31, 2013, 12:00 AM


I, JOSELITO JOHN G. BLANDO of legal age, Filipino citizen, with address at the 15th Floor, Picadilly Star Building, 4th Avenue corner 27th Street, Bonifacio Global City, Taguig City, Metro Manila 1634, after having been duly sworn to in accordance with law, depose and state:

1. I am the duly appointed Corporate Secretary of GRASS RESIDENCES CONDOMINIUM CORPORATION, a corporation duly organized and existing under the laws of the Philippines.

2. At a special meeting of the Board of Directors of the Corporation held at its principal office on 20th December 2013 the following resolution was approved by the majority of the Board of Directors present:

(Adjustment of Condominium Dues)

WHEREAS, the rate of condominium dues was increased from Php60.00 to Php100.00/sq.m. effective August 2013 to December 2014 by the previous Board of Directors.

RESOLVED, as it is hereby resolved, that the majority of the members of the Board of Directors agreed to adjust the Condominium Dues based on the Operational and Capital Expenses (OpEx, CapEx) computation from Php100.00/sq.m. to Php70.00/sq.m. inclusive of VAT starting January 2014 billing until December 2014 or otherwise determined by the Board of Directors.

RESOLVED FURTHER, as it is hereby resolved, that the penalty of non-payment and late payments of Condominium Dues for every billing period shall be charged with two percent (2%) of the sum of the condominium dues and water consumption.

RESOLVED FINALLY, that the foregoing resolutions shall continue to be in full force and effect until a certified true copy of a resolution of the Board of Directors of the Corporation revoking the above declarations is executed.
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