JOINT VENTURE AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Agreement made and entered into by and between:

MONOLITHIC CONSTRUCTION & CONCRETE PRODUCTS, INC. a corporation duly

organized and existing under and by virtue of the laws of the Republic of the Philippines with
principal address at #15 Aquarius St., GSIS Matina Crossing, Talomo District, herein
represented by its Owner/Authorized Managing Officer, hereinafter called to as the First Party;

- and -

MG Samidan Construction a sole proprietorship duly organized and existing under and by virtue
of the laws of the Republic of the Philippines with Principal address at Km 100 Sinto, Bauko,
Mountain Province, herein represented by its Owner/Authorized Managing Officer, hereafter
called to as the Second Party;

WITNESSETH: That -

WHEREAS, MONOLITHIC CONSTRUCTION & CONCRETE PRODUCTS, INC. and MG SAMIDAN

CONSTRUCTION are Joint Venture and awarded the project: ORGANIZATIONAL OUTCOME 1:
Ensure Safe and Reliable National Road System – Asset Preservation Program –
Rehabilitation/Reconstruction of Roads with Slips, Slope Collapse, and Landslide –
Tertiary Roads Itogon – Dalupirip – Sn Manuel Bdry Road KO275+510 – KO275+635,
KO275+690 – KO275+810 and Itogon, Benguet with contract number 21P00041;

WHEREAS, the parties agreed that First Partial Payment for the said project will be deposited to
MONOLITHIC’S Account at LANDBANK with Account No. 2981-0958-66;

NOW THEREFORE, for and consideration of the foregoing promises and mutual covenants
hereinafter set forth, the Joint Venture have agreed to establish, as they hereby establish and
constitute by and between themselves, a JOINT VENTURE for the exclusive purpose of Depositing
the First Partial Payment For the above-mentioned project.

IN WITNESS WHEREOF, the parties, hereto have set their hands this, 26th day of January, 2022 at
Baguio City, Philippines.

MONOLITHIC CONSTRUCTION &

CONCRETE PRODUCTS, INC. MG SAMIDAN CONSTRUCTION

By: By:

RUBEN G. SANTOS MARJORIE O. SAMIDAN

Authorized Managing Officer Authorized Managing Officer

SIGNED IN THE PRESENCE OF

___________________ ____________________
 ACKNOWLEDGMENT

Republic of the Philippines )

BAGUIO CITY ) S.S.

This day personally appeared before me the following:

Name I.D.# Date/Place Issued

Ruben G. Santos NPDL: L02-62033135 ________________
Marjorie O. Samidan TIN 168-060-684-000 4-25-1996/Mt. Province

both known to me as the same persons who executed this foregoing instrument and they
acknowledged to me that the same is their own true and voluntary act and deed and the
company/firm they respectively represent.

WITNESS MY HAND AND SEAL this 26th day of January, 2022 at Baguio City, Philippines.

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