MINUTES OF JOINT MEETING BETWEEN DEARBC HOUSING COMMITTEE AND AGD3 CORPORATION AT

SENTRO RESTAURANT, CAGAYAN DE ORO CITY, MISAMIS ORIENTAL.

PRESENT:

AGD3 CORPORATION:

1. Ali Dan G. Dumalahay - Chairman of the Board, AGD3 Corp.

2. Corazon Martinez - CFO, ALDUMA Pacific Builders, Inc.
3. Ruby Jean Tupas - General Manager, AGD3, CDO Branch
4. Engr. Josephus Ravanera - EVP, ALDUMA Pacific Builders, Inc.
5. Jovani G. Undag - Executive Secretary/Moderator

DEARBC
1. AIDA CERIALES
2. KAREN
3. JOEL ZACAL
4. ATTY. JAY BAGO
5. ATTY. KRISTINE R. BAGO
6. ENGR.
7. ATTY.

DEARBC , AGD3 JOINT Meeting No. 001

Series 2019

I. INVOCATION
Invocation is lead by MS. CORAZON MARTINEZ.

II. PRESENTATION OF AGD3 CORPORATION BY CHAIRMAN OF THE BOARD ALI DAN G.

DUMALAHAY

AGD3 Corporation ALI DAN G. DUMALAHAY presented to the DEARBC the updates and
proposal for San Antonio Homes, a DEARBC Housing project. Upon presentation of the
chairman, the following updates, proposal and concerns arose:

1. MARKETING STRATEGIES - is to be handed to AGD3 Corporation but the DEARBC may

have difficulty in providing some important clients’ details specially phone numbers. The
DEARBC however promised to provide AGD3 Corporation the details of clients that are
available for them to make available.

2. START OF COLLECTION OF EQUITY - the DEARBC and AGD3 Corporation agreed that
there is a need for them to start collecting the equity portion from the DEARBC Housing
clients. AGD3 will bill the DEARBC on a monthly basis.

3. MONTHLY MEETING BETWEEN AGD3 CORPORATION AND DEARBC – AGD3 Corporation

asked DEARBC that the two entities should conduct monthly meeting for updates, issues
and other concerns regarding the SAN ANTONIO HOMES SUBDIVISION PROJECT.
DEARBC agreed to have a monthly meeting with the AGD3 Corporation.

4. THIRD TRANCHE EARLIER OR SOONER RELEASE – AGD3 Corporation proposed that the
third tranche of payment from DEARBC be released earlier due to the reasons that some
of the clients transferred from their reserved units to another location on the
subdivision that costed the AGD3 Corporation labor, building materials and general
efforts in providing for the building of the reserved units. The DEARBC also agreed but
they need to take it to the board for approval.

5. DUPLEX DESIGN - AGD3 Corporation presented the new DUPLEX designs and DEARBC
agreed the new DUPLEX designs for implementation.
 a. Due to new DUPLEX designs, the housing mix of the project and its cost has also
changed. AGD3 Corporation and DEARBC agreed on the new housing mix and
total project cost of the SAN ANTONIO HOMES.

6. WATER SYSTEM PROJECT FOR SAN ANTONIO HOMES - AGD3 Coporation presented the
Water system for construction and that they can chose to hand over the said project to
the DEARBC. DEARBC requested that they might take with another contractor and
asked also quotation from SpeedDrill for comparison purposes. AGD3 Corporation will
give a copy of quotation.

7. SHOPHOUSES – AGD3 Corporation proposed to the DEARBC that there is a need for
them to bill the SHOPHOUSES for its construction for it is part of the phase 1 of the
project. DEARBC, however, requested that the shophouses shall be constructed with the
original plan and costs and that half of the total ShopHouses shall be constructed first.
The AGD3 Corporation and DEARBC agreed that only half shall be constructed.

8.