For the guidance of all concerned, Section B.1 Item c of MC # 27 S. 1991 is hereby amended to read as follows:

c. The equity participation of the IA shall be THIRTY PERCENT (30%) of the remaining balance of the amortization amount plus any back accounts, if there are any, including surcharges;

This memorandum takes effect immediately.

Adopted: 3 Oct. 1991

(Sgd.) JOSE B. DEL ROSARIO, JR.
Administrator