CONSTRUCTION AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Construction Agreement is entered into this (insert date) by and between:

(state name of corporation), a corporation organized

and existing under the laws of the Philippines, with
business address at (insert address) herein duly
represented by its (insert position of signatory), (insert
name of signatory), hereinafter referred to as the
Owner;

- and –

(state name of corporation), a corporation organized

and existing under the laws of the Philippines, with
office address at (insert address) herein duly
represented by its (insert position of signatory), (insert
name of signatory), hereinafter referred to as the
Contractor.

Witnesseth:

WHEREAS, Owner requires the services of a duly licensed, qualified and competent
contractor for construction works as set forth in this contract.

WHEREAS, Contractor represents that it has the expertise, experience and resources to
provide the services required by the Owner.

NOW THEREFORE, the parties agree as follows:

1. For and in consideration of the sum of (state amount of contract) (Php______)

which the Owner agrees to pay to Contractor, Contractor agrees and
undertakes to do the following construction works:

1. Retouching on the plastering and painting of machine room;

2. Retouching of unassigned units;
3. Construction of parking slot (Parking Slot no. 62);
4. Repair of ceiling of mezzanine;
5. Repair and painting of ceiling of penthouse lobby;
6. Retouching of the electrical openings of the fire exit stairs;
7. Repairs of roof deck tiles and washout;
8. Retouching of unassigned units with hairline cracks;
9. Repair of damaged ceiling of unassigned units;
10. Installation of vinyl tiles at the service elevators;
11. Repair of ceiling, master bedroom, bedrooms 1 & 2 and utility room of unit
11-D;
12. Repair of ceiling of unit 3-F;
13. Retouching of masonry works, floor topping and tile works of penthouse A;

the plan and specifications of which are attached and made integral parts of this contract
as Annex “A”.

2. The Contractor shall give his personal superintendence to the work and furnish
all the labor and appliances required for the full performance of the construction
 works specified above; that all labor shall be performed in the most acceptable
manner by skilled workmen and the workmanship shall be subject to the approval
of the Owner’s engineer.

3. All the materials employed in the construction works specified above shall be
provided by the Owner in accordance with the plan and specifications.

4. The Owner shall pay the Contractor the contract amount as follows:

Due Date No. of Amount

months/days
First Upon completion of the Xxx Xxx
Payment construction works stated in
no. 1 to no. 4 as enumerated
above;

Second Upon completion of the Xxx Xxx

Payment construction works stated in
no. 5 to no. 8 as enumerated
above;

Third Upon completion of the Xxx Xxx

Payment construction works stated in
no. 9 to 12 as enumerated
above;

Fourth Upon completion of the Xxx Xxx

Payment construction works stated in
no. 13 as enumerated above;

Fifth Upon the final evaluation and Xxx Xxx

Payment approval by the Owner of the
construction works in
accordance with the plan and
specifications.

Total Xxx Xxx

4. The Contractor agrees to finish said construction works within (state period of
construction) (____) working days, counted from the date of signing of this
contract; and should the Contractor fail to finish the house within said period, the
Contractor shall penalty equivalent to the rate of 1% per month and other
damages which the latter maybe entitled under the law, in addition to the above
interest.

5. This Agreement constitutes the entire understanding between the parties and
may only be modified, altered or amended only with the prior written consent of
the party of or parties against whom, such modification, alteration, or amendment
shall take effect.

IN WITNESS WHEREOF, the parties have executed this Agreement on the date and
place above specified.

Owner Contractor
 SIGNED IN THE PRESENCE OF:

______________________________ ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

)S.S.

BEFORE ME, this (insert date) in (insert place), personally appeared:

Name CTC No. Issued at Issued on

known to me to be the same persons who executed the foregoing instrument consisting
of (state number of pages) (__) pages including this Acknowledgment, and who
acknowledged to me that the same is their voluntary and free act and deed and those of
the parties represented.

IN WITNESS WHEREOF, I set my hand and affix my notarial seal on the date and place
above written.

NOTARY PUBLIC

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of ______.