PROPOSED CONSTRUCTION AGREEMENT

Made as of the --th day of -- in the year of Two Thousand and Twelve,

Between

Mr. & Mrs. --, (Owner) with residence address at -- and with email address --@yahoo.com

and

Philippines Construction and Management Corporation (contractor)

with office address at GF, PCPD Bldg., 2332 Chino Roces Ave. Extension, Makati 1231

The Project is:

Proposed Two (2) Storey Residential Building with a total floor area = -- square meter and a One (1)
Storey Residential Building with a total floor area = -- square meter based on the plans submitted and
approved by Owner. Project is located --.

ARTICLE 1
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THE CONTRACT DOCUMENTS

1.1 The Contract Documents consist of this Agreement are Drawings, Specification, Cost Breakdown
(attached), Construction Schedule, signed and sealed by respective professional architect, civil engineer,
sanitary engineer, electrical engineer and mechanical engineer, all approved by Owner. The Contract
represents the entire and integrated agreement between the parties hereto and supersedes prior
negotiations, representations or agreements, either written or oral.

ARTICLE 2
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THE WORK OF THIS CONTRACT

2.1 The Contractor shall execute the entire Construction Work described in the Contract Documents,
except for Work not indicated in the Cost Breakdown or other Contract to be the responsibility of others.

2.2 Costs of materials as enumerated and required in the Cost Breakdown and Materials Specifications
and Building Permits are all included in this Contract.

2.3 Cost of Labor to complete the construction and installation in the highest acceptable quality of all
items found in Paragraph 2.2 are also included.

2.4 Other costs including tools, equipment, transportation, and other incidental cost to complete
Paragraph 2.2 and 2.3 are incorporated herein.
2.5 The contractor will provide preconstruction services to come up with the schematic designs,
preliminary drawings, final drawings, materials specifications, cost estimates, construction schedule,
building permit forms, all signed and sealed by respective trade professionals.

ARTICLE 3
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DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION

3.1 The date of commencement is the date from which the Owner remits his/her full construction down
payment to the Contractor, or it shall be the date of this Agreement, as first written above, or upon receipt
of the Notice to-Proceed from Owner, which ever comes later.

3.2 The Contractor shall achieve Substantial Completion (90%) of the entire Work after One Hundred
Eighty (180) days reckoned from Paragraph 3.1.

ARTICLE 4
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CONTRACT SUM, DOWNPAYMENT, PRECONSTRUCTION FEE AND PROGRESS PAYMENTS

4.1 The Owner shall pay the Contractor in current funds for the Contractor's performance of the Contract
the total sum of PHILIPPINE PESOS: EIGHT MILLION THREE HUNDRED THOUSAND SIX HUNDRED
SIXTY THREE ONLY (PHP 8,300,663.00)

SCHEDULE OF PAYMENTS

4.2 The 1ST down payment for the preparation of blue prints to be prepared and signed by respective
professionals (Architect, Structural Engineer, Sanitary Engineer, Electrical Engineer and Mechanical
Engineer) and processing of Building Permits, is equivalent to PHILIPPINE PESOS: FOUR HUNDRED
NINETY FIVE THOUSAND THREE HUNDRED TWENTY TWO & 17/100 ONLY (PHP 495,322.17).

4.3 The 2nd down payment intended for the construction of the two (2) residential buildings which is
equivalent to 50% of the remaining contract amount is PHILIPPINE PESOS: THREE MILLION NINE
HUNDRED TWO THOUSAND SIX HUNDRED SEVENTY & 42/100 ONLY (PHP 3,902,670.42) and is due
before the start of the construction. Validity of our offer is good until --.

PROGRESS PAYMENTS

4.4 Based upon the weighted percentage progress of the works, a Progress Accomplishment Billing will
be submitted to the Owner by the Contractor, and the Owner shall make progress payments on account
of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents.

4.5 Progress Accomplishment Billing shall be every fifteen (15) days. or as follows:

Progress Accomplishment # 1, March 30,2011, Construction Stage and Hence forth- 1st Billing
Progress Accomplishment # 2, April 15,2011
Progress Accomplishment # 3, April 30,2011
Progress Accomplishment # 4, May 15,2011
Progress Accomplishment # 5, May 30,2011
Progress Accomplishment # 6, June 15,2011
Progress Accomplishment # 7, June 30,2011
Progress Accomplishment # 8, July 15, 2011
Progress Accomplishment # 9, July 30, 2011
Progress Accomplishment # 10, August 15,2011
Progress Accomplishment # 11, August 30,2011
Last Progress Accomplishment # 12, September 15, 2011

4.6 Provided the Progress Accomplishment is received by the Owner or her representative in person or
thru emails not later than the day specified above, the Owner shall make payment to the Contractor not
later than seven (7) days thereafter.

4.7 With each Progress Accomplishment Billing, the Contractor shall submit pictures or evidence required
by the Owner to substantiate the actual progress of the Project.

4.8 Should the progress or any other payments becomes due and unpaid within seven (7) days, the
Contractor has the right to pullout any equipment/manpower/materials from the site and any re-
mobilization after will be charge for the account of the Owner.

ARTICLE 5
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CHANGES IN THE WORK

5.1 In calculating adjustments to this Contract, the term "unit cost" as used in the attached Cost
Breakdown shall form as the basis of cost adjustments or at mutually agreed prices.

ARTICLE 6
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SUBCONTRACTS AND OTHER AGREEMENTS

6.1 Those portions of the Work that the Contractor does not customarily perform with the Contractor's
own personnel shall be performed under subcontracts or by other appropriate agreements with the
Contractor. The Contractor shall not be required to contract with anyone to whom the Owner has
reasonable objection.

ARTICLE 7
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MISCELLANEOUS PROVISIONS

7.1 Payments due and unpaid under the Contract shall bear interest from the date payment is due at the
rate stated below, or in the absence thereof, at the legal rate prevailing (not less than 10% per annum)
from time to time at the place where the Project is located.
7.2 Delay in payments shall be considered time extension of the Contract equivalent to the number of
days delayed by these payments.

7.3 The work may not be terminated by the Owner without due cause.

7.4 The warranty for the buildings applies only when the project is fully paid.

This Agreement is entered into as of the day and year first written above and is executed in at least three
original copies of which one is to be delivered to the Owner, one to the Contractor.

_________________ ___________________

ACKNOWLEDGEMENT

Subscribe and Sworn to before me this Construction Agreement to be their lawful and willful act and both
exhibited to me their Community Tax Certificates indicated below their names above. This document is
composed of 3 pages including this acknowledgement and sketch plan.

Notary Public
Series 2012
Book No.
Page No.
Document No.