To whom must the performance bond required under PD 957 be made payable?

The performance bond required under PD 957 must be made payable to the Housing and Land Use Regulatory Board (HLURB). This is crucial because the HLURB acts as the regulatory authority overseeing housing development projects and ensuring that developers adhere to the standards and conditions set forth in their licenses and permits.

Making the bond payable to the HLURB provides a level of security for both the buyers and the government, ensuring that funds are available in case the developer fails to comply with the requirements of the development. This can include the completion of infrastructure, provision of amenities, and adherence to zoning laws, among other responsibilities. If a developer defaults on these obligations, the HLURB can utilize the bond to ensure that the necessary actions are taken to rectify the situation, protecting the interests of home buyers and the integrity of the housing market.

The other choices suggest payment to various parties that may not directly enforce compliance or protect the interests regulated by PD 957, making the HLURB the most appropriate choice in the context of overseeing the duties prescribed under this law.