To the TAFARMCO Board of Directors:

Sirs/Madams,

I request that my membership with Taloy Farmers MPC will be granted as Regular member. Should my application be approved, I will do my duties and responsibilities as a member prescribed by the TAFARMCO By-Laws and obey the rules and regulations provided by RA 9520, the decisions of the General Assembly, Board of Directors, policies and decisions that maybe promulgated by the Cooperative Development Authority (CDA). I hereby further pledged to:

• Attend and finished the prescribed Pre Membership Education Seminar (PMES)
• Pay the membership fee of P 150.00
• Subscribed at least 100 shares with P100.00 par value payable in a regular installment basis until fully paid
• Continue to contribute at least 50% to my share capital of the annual interest on capital and patronage refund (IC/PR) due to me; and
• Comply with the membership and subscription agreement

MEMBERSHIP AND SUBSCRIPTION AGREEMENT

I, hereby agree to be a member of the TALOY FARMERS MULTIPURPOSE COOPERATIVE. I have completed the PMES as prescribed for prospective members and I understand the purposes and objectives of the cooperative.

In connection with such membership, I hereby agree to the following terms and conditions:

1. To comply with provisions of Articles of Cooperation and By-Laws and policies set by the Board of Directors and the General Assembly as well as acts of duly constituted authorities, and failure on my part to do so, TAFARMCO as its option may demand for fines, suspend, or expel me from membership whereupon all my shareholdings shall be answerable for my liabilities to the cooperative;
2. Attend all meetings, conferences and seminars as required by the Board of Directors and failure on my part to do so, unless previously excused by the Directors or to the fine set at forth by the Board of Directors in resolution;
3. To participate in the THRIFT and SAVINGS program by:
   • Subscribing at least one hundred (100) shares at one hundred pesos (PhP100.00) par value and paying it in lumpsum or in a regular installment basis until fully paid.
   • Continuously save to the cooperative;
4. To pay a membership fee of one hundred fifty pesos (Php 150.00);
5. To comply with the directives of duly constituted authorities as well as decisions of the Board of Directors regarding the operating policies of Taloy Farmers MPC.

The provisions of this agreement, Articles of Cooperation and By-Laws have been explained to me. I understand them and agree to abide with them.

In all of the above undertakings, I am aware that the Board of Directors may impose sanctions against me or perform any acts necessary to make the sanctions effective without going to court.