Coa Circular 94-013

Rev. 04.24.12

MEMORANDUM OF AGREEMENT

MARIANO T. CUENCO

Deputy Administrator

Corporate Resources &

Financial Services

KNOW ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement made and entered into by and between:

NATIONAL ELECTRIFICATION ADMINISTRATION, a government corporation created and established by Presidential Decree No. 269, as amended, with principal office at the #57 NEA Building, NIA Road, Government Center, Diliman, Quezon City, and represented in this Act by its Administrator,______ ________ or Deputy Administrator, ___MARIANO T. CUENCO___ hereinafter called “NEA”.

-and-

_____________ ____ELECTRIC COOPERATIVE, INC., an electric cooperative duly organized, incorporated and registered pursuant to Presidential Decree No. 269, as amended, and with principal office at _________________________, and represented in this Act by its President, _______________________, or General Manager, _________________________________, hereinafter called the “RECIPIENT”.

WITNESSETH: That-

WHEREAS, the RECIPIENT seeks financial assistance from the government by way of grant/subsidy to fund electrification projects and to finance rehabilitation of distribution lines and/or systems damaged by typhoons, earthquakes and other related natural calamities;

WHEREAS, Presidential Decree No. 269, as amended, mandates NEA to implement rural electrification program on an “area-coverage” basis;

WHEREAS, there is a need for government to subsidize cost relative to the cost of fuel and minor repairs/maintenance and/or vehicle rentals directly used in the project, installation and construction of distribution facilities that will extend electric service to unenergized barangays or sitios, and rehabilitation of distribution lines and/or systems damaged by typhoons, earthquakes and other related calamities;

WHEREAS, NEA has agreed to provide grant/subsidy to the RECIPIENT under the...