KNOW ALL MEN BY THESE PRESENTS:

This Contract is entered into by and between:

MS. EVELYN V. ROSE, resident of Lanang, Davao City, hereinafter referred to as the OWNER; and

MR. NOEL Y. NICOLAS, married, and resident of Davao City, registered owner of C.C. NICOLAS POOL AND SPA
BUILDER, with business address at Rambutan Street, Bajada, Davao City hereinafter referred to as the CONTRACTOR;

WITNESSETH:

1. The OWNER shall hire the services of the CONTRACTOR for the construction of the THREE STOREY
RESIDENTIAL BUILDING located at Las Terrazas Subdivision, Maa, Davao City as per agreed detailed plan and
specifications attached hereinafter referred to as the PROJECT;

2. CONTRACTOR may at its discretion engage subcontractors to perform work hereunder, provided CONTRACTOR
shall fully pay said subcontractor and in all instances remain responsible for the proper completion of this Contract;

3. The CONTRACTOR shall handle the cash management which includes payment of the purchase of all materials and
payment of the salaries of workers and other related expenses that concerns the PROJECT;

4. The OWNER will hand to the CONTRACTOR the cash needed for a specific period;

5. CONTRACTOR shall at its own expense obtain all permits necessary for the work to be performed;

6. CONTRACTOR warrants that it is adequately insured for injury to its employees and others incurring loss or injury as
a result of the acts of CONTRACTOR or its employees and subcontractors;

7. OWNER has entered into an agreement with Ramon P. Tanglao (“Architect”) the object of which is the performance
of architectural services for the PROJECT. CONTRACTOR shall consult with Architect in connection with the
preparation of all designs and drawings and shall ensure the constructional feasibility of the PROJECT.

8. The CONTRACTOR shall follow the specification of project as designed and in consultation with the Architect and as
per signed and approved project proposal by the OWNER;

9. The CONTRACTOR will submit to the OWNER the summary of expenses with its corresponding support on a
monthly basis;

10. The OWNER agrees that for and in consideration of the performance by the CONTRACTOR of the work phases of
construction, the OWNER shall pay the CONTRACTOR the five (5) percent of the total expenses incurred on a
quarterly basis. “Total Expenses” shall refer only to the cost of labor and materials;

11. The CONTRACTOR shall complete the work within a period of 400 days commencing __________.

12. All work shall be completed in a workmanship like manner and in compliance with all building codes and other
applicable laws. To the extent required by law all work shall be performed by individuals duly licensed and authorized
by law to perform said work.

13. CONTRACTOR agrees to remove all debris and leave the premises in broom clean condition.

14. Failure of CONTRACTOR to comply with the above stipulations shall make him liable up to the total amount of the
Contract Price.

15. Other matters not agreed upon shall be subject to the pertinent provisions of the Civil Code of the Philippines.

IN WITNESS WHEREOF, we have hereunto set our hands on the _____ day of ________, 2009, in the City of Davao,
Philippines.