RESERVATION AGREEMENT

I hereby manifest my intention and offer to purchase from CEBU LANDMASTERS, INC. (the "Seller") the following property
(the "Property") and request that the same be reserved for my purchase:

UNIT NUMBER : TOWER 2 ; 8C UNIT TYPE : STUDIO UNIT

PROJECT : CASA MIRA TOWERS - UNIT AREA : 20 SQM.
LABANGON

For a purchase price of Two Million, Ninety One Thousand, Two Hundred Twenty Seven Pesos And
Ninety Five Centavos. (Php 2,091,227.95 ), (the "Purchase Price") inclusive of VAT (if applicable),
reservation fee, transfer and registration charges, and all other charges as hereinafter specified, to be paid by
me in the manner chosen by me as indicated in the Term Sheet, which is attached hereto and made integral
hereof as Annex "A", I hereby request that the Property be reserved for me and for this purpose I enclose
herewith the amount of : PhP 15,000.00 as reservation fee (the "Reservation Fee"). I understand that the
Purchase Price is valid only for the preferred payment scheme and for the manner of payment stated in Annex
"A" and should I decide to change the same, such change shall be effective only upon written approval of the
Seller and shall result in the change of the Purchase Price with a re-documentation fee of Php 100,000.00,
such being an amendment of Annex "A". I further understand and agree that my reservation for the Property is
subject to the following:

TERMS AND CONDITIONS

1. The reservation for the Property is good only for a period of thirty (30) calendar days from payment of the
Reservation Fee or up to (the "Reservation Period"). Should I decide to cancel my reservation or I
fail or be unable to pay any of the amounts due on their respective due dates, as stipulated in Annex "A", whether such
failure or inability is due to my decision not to proceed with my purchase or due to a delay in the release of the loan
proceeds to be used to finance my purchase of the Property, or for any other reason, I agree that my reservation shall
lapse and my Reservation Fee shall be forfeited in favor of the Seller. I likewise agree that if I request changes or
adjustments in the payment schedule, I will pay all associated costs therefor, including costs for changing or pull-out of
checks;

2. In the event I avail myself of bank financing for the Purchase Price or any portion thereof, I shall be solely
responsible for filing the requisite loan application form prescribed by the bank together with all the necessary supporting
documentary requirements therefor, but the processing and actual release of the loan proceeds must be within the
payment period and scheme indicated in Annex "A"; otherwise the Seller shall be entitled to 2% interest on any
outstanding balance following the lapse of the payment period, computed every month until fully paid. For the avoidance
of doubt, the Seller shall assume that I will pay in cash any outstanding balance at the date of turnover;

3. In case of my failure to pay any of the amounts due or comply with my undertakings hereunder, or execute the
Contract to Sell and/or Deed of Absolute Sale for the Property, or submit the necessary documents as specified herein, or
comply with the terms of my purchase, the Seller shall have the option to cancel this sale. If I have paid at least twenty-
four (24) months of installments, any refund due shall be equivalent to the cash surrender value as provided for under
R.A. 6552 (Maceda Law); otherwise, I expressly agree that any refund due shall be less the following deductions:

(a) an amount equivalent to fifty percent (50%) of the total amount paid as liquidated damages;
(b) penalties accrued as of the date of cancellation;
(c) real estate broker's commission and incentives, if any;
(d) taxes paid; and
(e) any unpaid charges on the unit;

4. I hereby undertake to supply the Seller with all the documents necessary for the drafting of my Contract to Sell,
as listed under "OTHER REQUIREMENTS" below, and to execute the same upon my payment of the downpayment, and
the Deed of Absolute Sale upon my full payment of the Purchase Price and all amounts due on my purchase of the
Property, such contract and deed being in the form and under the terms prescribed by the Seller;

5. I understand and agree that this Agreement only gives me the right to purchase the Property, subject to the
fulfillment of the conditions stated herein, and no other right, title, or ownership over the Property is vested upon me by
the execution of this Agreement; thus, the Seller retains title and ownership of the Property until I shall have fully paid all
amounts due to the Seller under the terms hereof;
6. Documentary stamp taxes, registration fees, transfer taxes, costs, other incidental but necessary expenses, and
any other tax imposed, whether presently or in the future, in connection with the sale of the Property, the execution,
notarization, and registration of the Contract to Sell and the Deed of Absolute Sale, and the transfer, conveyance and
issuance of the TCT or CCT and Tax Declaration covering the Property in my name shall be for my account. Real
property taxes, association dues, rates and assessments which shall be imposed on or which shall accrue in relation to
the ownership of the Property shall be pro-rated between the Seller and me for the purpose of making me liable only for
the portion of such taxes or assessments that correspond to the period from the date of turnover of the Property to me or
the date of execution of the Deed of Absolute Sale, whichever is earlier. From such date, all real property taxes,
association dues, fees, and assessments which shall be due on the Property, if any, shall be for my sole account;

7. I understand and agree that my purchase of the Property is subject to the covenants and restrictions specified in
the Project's Master Deed with Declaration of Restrictions, which will be annotated on the corresponding certificate of title
of the Property as a lien thereon, and which covenants and restrictions I undertake to faithfully and strictly comply with.
My undertaking and confirmation herein constitutes an essential consideration of the sale by the Seller of the Property to
me and all other agreements executed in connection therewith;

8. I also hereby authorize the Seller to organize the governing condominium corporation and to automatically make
me a member thereof upon my full payment of the Purchase Price, and I undertake to abide by its rules and regulations
and comply with its membership requirements;

9. I understand and agree that the Seller may, at its discretion following my submission of a request in writing, allow
me to make significant changes to my payment terms and/or personal information, subject to the fulfillment of the
following conditions: (a) I am not in default in the performance of my obligations hereof, (b) I shall pay the administrative
or processing fees prescribed by the Seller of Php 100,000.00, and or any other costs that might or have been incurred;
(c) I shall submit and/or execute such amendatory and other documents as may be necessary or required to effect the
transfer or change in payment terms; and (d) I agree that any and all taxes, costs, and government assessments (if any),
arising or resulting from any such changes, shall be for my sole account and for which I hereby undertake to indemnify
the Seller. I further undertake not to hold the Seller liable and waive any claim or right that I may be entitled to, under law
or equity, to be compensated for such as but not limited to damages, costs, and expenses which I may incur in
connection with any delay in the processing of the certificate of title to the Property subject of this reservation by reason of
the implementation of this paragraph;

10. I understand and agree that the terms and conditions in the Contract to Sell and Deed of Absolute Sale shall
govern the sale of the Property, and that I cannot assign or otherwise transfer my rights and obligations therein without
prior written consent of the Seller. Any attempted assignment without the required prior written consent shall be void and
of no force and effect;

11. I warrant that the information which I provided herein, whether personal or corporate, is true and correct as of the
date hereof and agree to directly and personally inform the Seller in writing of any changes in my personal data such as
but not limited to name, address, and/or status. It is understood that the Seller shall have the right to rely solely on the
information provided by me and shall not be held responsible for any error, non-communication or miscommunication in
the personal information given by me. I also warrant that the funds used and to be used in purchasing the Property is, has
been, and will be obtained through legitimate means and do not and will not constitute all or part of the proceeds of any
unlawful activity. I hereby hold the Seller free and harmless from any incident, claim, action, or liability arising from the
breach of my warranties herein, and hereby authorize the Seller to provide to any government body or agency any
information pertaining to this sale and purchase transaction if so warranted and required under existing laws;

12. In case of dispute arising out of or relating to this Agreement, I agree to finally settle the same with the Seller by
arbitration conducted in Cebu City, Philippines, in accordance with the Philippine Arbitration Law (Republic Act No. 876),
by an arbitrator mutually agreed by me and the Seller, and we shall bear equally the cost of arbitration (exclusive of legal
fees and expenses I personally incurred, which I shall bear separately). The decision of the arbitrator shall be final and
binding upon me and the Seller and enforceable in any court of competent jurisdiction located in Cebu City, Philippines.
Notwithstanding the foregoing, in the event of breach by a party of its obligations hereunder, the non-breaching party may
seek injunctive relief in any court of competent jurisdiction located in Cebu City, Philippines and the parties hereby
consent to the jurisdiction and venue of such courts. If any provision of this Agreement is determined by an arbitrator or
any court of competent jurisdiction to be invalid or unenforceable, then the remaining provisions of this Agreement shall
nevertheless be given full force and effect and be interpreted as broadly as possible to give full effect to the intentions of
the parties in entering into this Agreement.
 I signify my conformity to the foregoing and certify that all information provided above are true and correct.

DENNIS L. BUAGAS CLEMEN D. BUAGAS

Signature over Printed Name Signature over Printed Name

Date:

SALES & MARKETING: SELLER:

Agent Broker
NIÑA ABELLA :
_ ________________________ _ Nam e _J_O_H_N_P_A_U_L__P_. B_O_ R__R_O_M_E_O
Nam e_ _A__C_H_E_L__O_R_'_S_R__E_A_L_T_Y__AND BROKERAGE
B
INC.
Signature over Printed Nam e (complete broker accreditation name)

Group:___________________ Broker Number ________________

Date: Mobile No.________________ Mobile No. ________________

OTHER REQUIREMENTS - The following requirements are to be submitted by the buyer prior to the
execution of the Contract to Sell or the Deed of Absolute Sale, as applicable:

 FOR INDIVIDUAL BUYERS

1. If the property is purchased by a minor, the parent/guardian must submit 3 certified true copies of the
final and executory order of the court approving the posting of the bond required under Article 225 of
the Family Code and, as applicable, the court order appointing the representative as guardian.
2. If a married buyer wants to indicate that there is a separation of properties between himself/herself
and his/her spouse, he/she must submit 3 certified true copies of the final and executory decision of
the court granting the separation of properties.
3. If the buyer is legally separated, or his/her marriage has been annulled or declared null and void, he/she
must submit 3
certified true copies of the final and executory decision of the court granting the legal separation or
annulment or declaring the marriage null and void .
4. If the buyer is transacting through an attorney-in-fact, the buyer must execute a special power of attorney
(SPA) bearing the
signature of the buyer, the specimen signature of the attorney-in-fact, and the latter’s authority to
transact for and on behalf of the buyer. If the buyer is unable to personally obtain the certificate of
title, the SPA shall include the authority of the attorney- in-fact to receive the certificate of title on
behalf of the buyer. The SPA shall be signed by all the buyers (if more than one).
*3 original and notarized copies; if accomplished abroad, all copies must be
notarized and consularized 5. A photocopy of passport for foreigner(s) and
Filipino(s) living and/or working abroad.
6. If the buyer resides outside the Philippines but the document is signed in Philippines, a
photocopy of the page in passport showing date of entry in the Philippines must be submitted.
7. Tax Identification Number (TIN)
validation – E TIN printout 8. 2
Valid government or company –
issued ID’s

 FOR CORPORATE BUYERS

1. 2 valid government or company-issued ID’s for Authorized Company Representative

2. 2 copies of the Certificate of Registration, Articles of Incorporation/Partnership/Association and By-
Laws of the corporation as registered in the Securities and Exchange Commission duly certified by
the Securities and Exchange Commission or the
Corporate Secretary of the Corporation.
3. 2 originals of the Secretary’s Certificate, attested under oath, of the valid resolution of the Board
of Directors/ Governors/ Trustees authorizing the purchase and mortgage ( if through
financing) of the property and its terms designating and
appointing the official authorized to negotiate and sign documents on behalf of the corporations.
4. 2 original and notarized copies of a certification under oath by the corporate secretary of the
corporation as to the nationality of its stockholders.
5. If the buyer resides outside the Philippines but the document is signed in the Philippines, a
photocopy of the page in the authorized signatory’s passport showing date of entry in the
Philippines must be submitted.