MEMORANDUM OF AGREEMENT

KNOW TO ALL MEN BY THESE PRESENTS:

This Memorandum of Agreement made and executed by and

between:

ROMMEL D. ESPIA, of legal age, Filipino and a resident of

384 6th st., Guingona Subd., Butuan City, herein called the First
Party ; and

ROS BUILDERS CONSTRUCTION, a corporation duly organized and

existing under the rules of the Republic of the Philippines,
under DTI Certificate of Registration No. 02107968,1 with office
address at San Francisco, Agusan del Sur, represented by its
proprietor, MARCELINO P. ALAB, hereinafter referred to as the
SECOND PARTY ;

WITNESSETH:

WHEREAS, the FIRST PARTY has a housing project, situated at

Patin-ay, Prosperidad, Agusan del Sur, with 164 projected number
of housing units ;

WHEREAS, the FIRST PARTY, is in need of a construction

company to realize the said housing construction project ;

WHEREAS, the SECOND PARTY, possess all the qualifications

and none of the disqualifications in providing the services
needed in the said construction ;

WHEREAS, the FIRST PARTY and SECOND PARTY, in unison is

willing to come into agreement subject to several terms and
conditions ;

NOW, THEREFORE, for and in consideration of the foregoing,

the parties hereby agree to the following terms and conditions
stipulated hereunder :

1. That the SECOND PARTY shall provide hardware and

construction materials, during the existence of the said
project or otherwise stated, the contractor ;

2. That in the event the project is not finished for the

period of four (4) years, this contract shall be
renewable upon mutual agreement of both parties;

1
Annex “A”
 3. That the FIRST PARTY shall likewise provide heavy
equipments for embankment and development of
area/subdivision, which shall be subject to rentals ;

4. That the billings of the materials delivered to the FIRST

PARTY or to the site, shall be done every fifteenth day
of the month and by which amount, FIRST PARTY shall be
oblige to pay at a price consistent with the current
local market ;

5. That the parties shall observe good faith and fidelity in

the performance of their respective duties and
obligation.

IN WITNESS WHEREOF, the parties have hereunto affixed their

hands this 18th day of December 2013, in San Francisco, Agusan
del Sur, Philippines.

ROMMEL D. ESPIA ROS BUILDERS CONSTRUCTION

(First Party) (Second Party)

Rep. By:

MARCELINO P. ALAB
Proprietor
Signed in the presence of :
____________________ _____________________
REPUBLIC OF THE PHILIPPINES )
PROVINCE OF AGUSAN DEL SUR )
MUNICIPALITY OF SAN FRANCISCO )SS

ACKNOWLEDGMENT

BEFORE ME, this 18th day of December 2013 at San Francisco,

Agusan del Sur, personally appeared the above-named persons
represented to me to be the same persons who executed the
foregoing instrument, and they acknowledged to me that the same
are their free acts and deeds.

The parties and their witnesses at the left margin of each

and every page have signed this instrument consisting of 2 pages
including this page hereof.

WITNESS MY HAND AND SEAL, the day, year and place above-
mentioned.

LEON O. MONTILLA, JR.

Notary Public
Until December 31, 2013
Doc. No. IBP Lifetime No. 03110
Page No. PTR No. 4728703 on 1-8-13
Book No. 143 At Agusan del Sur
Series of 2013 Roll No. 44691