AGREEMENT BETWEEN OWNER AND CONTRACTOR

This Agreement between the owner and Contractor is effective (date: Upon signing of
contract)

BETWEEN: ROGELIO ANGELES herein referred as the First party, an

individual/company with hi/her main address located at

(ANTAZO VILLAGE, BATINGAN,BINANGONAN RIZAL )

And: EXACT BUILDERS herein referred as the Second Party, a company

organized and existing under the laws of the Philippines, with its main
office located at

(MALOLOS, BULACAN)

WHEREAS, the FIRST PARTY finds that the SECOND PARTY is qualified to perform
the work, all relevant factors considered, and that such performance will be in
furtherance of the Owner’s benefit.

NOW, THEREFORE, in consideration of the mutual covenants set forth herein and
intending to be legally bound, the parties hereto agree as follows:

1. MATERIAL AND LABOR PROVIDED

The Second Party agrees to provide all of the materials and labor required to
perform the following work for:

[Construction of Fencing and Demolition]

as shown by the drawing(s) and described in the specifications prepared by EXACT

BUILDERS and provided by the First Party, which are identified by the signatures of
the parties to this agreement and which form a part of this agreement.

The Second Party agrees to provide and pay for all materials, tools and equipment
required for the prosecution and timely completion of the work. Unless otherwise
specified, all materials shall be new and of good quality.

In the prosecution of the work, the Contractor shall employ a sufficient number of
workers skilled in their trades to suitably perform the work.

2. PAYMENT

The First Party hereby agrees to pay the Contractor, for the aforesaid materials and
labor, the sum of TWENTY SIX MILLION TEN THOUSAND PESOS
(26,010,000.00), in the following manner:

[50% Down payment 40% Progress Billing and 5% Retention)

3. COMPLETION OF THE WORK

The Contractor agrees that the various portions of the above-describe work shall be
completed on or before the following date/s

[ Upon Downpayment ]

and the entire above-described work shall be completed no later than

[ 30 days tentative will be based on how quickly public officials and law
enforcement removal of tenants].

4. MODIFICATIONS TO THE WORK

All changes and deviations in the work ordered by the First Party must be in
writing, the contract sum being increased or decreased accordingly by the Second
Party. Any claims for increases in the cost of the work must be presented by the
Second Party to the First Party in writing, and written approval of the First Party
shall be obtained by the Second Party before proceeding with the ordered change or
revision.

5. ACCESS

The First Party, his/her representative and public authorities police and sheriffs
office shall at all times have access to the work and expect full support the
demolition of informal settlers.

6. CONFORMITY WITH DRAWINGS AND SPECIFICATIONS

The Contractor agrees to re-execute any work which does not conform to the
drawings and specifications, warrants the work performed, and agrees to remedy
and defects resulting, from faulty materials or workmanship which shall become
evident during a period of one year after completion of the work.

7. INSURANCE COVERAGE

The First Party agrees to maintain full insurance on the above-described work
during the progress of the work, in his own name and that of the Second – Party.

8. DELAYS

In any event the Contractor is delayed in the prosecution of the work by acts of God,
fire, flood or any other unavoidable casualties; or by labor strikes, late delivery of
materials; or by neglect of the First Party; the time for completion of the work shall
be extended for the same period as the delay occasioned by any of the
aforementioned causes.
9. INDEMNIFICATION

In the event the work is delayed due to neglect of the Second Party, the Second Party
agrees to pay the First Party the sum of .01% of total contract per MONTH as
liquidated damages until such time as the work is completed. The first party or the
second party has the right to terminate the contract if the work is not done well or
the first party is delay or not paying in accordance to the agreed terms of payment.

10. NO ASSIGNMENT

Neither the First Party nor the Second Party shall have the right to assign any rights
or interest occurring under this agreement without the written consent of the other,
nor shall the Contractor assign any sums due, or to become due, to him under the
provisions of this agreement

11. SCOPE OF WORKS

 Demolition of existing houses of informal settlers with support of public

official and law enforcement.
 Clearing of site debris
 Installation of Steel corrugated Fence (4.2 hectares)

12. ATTORNEY’S FEES

Attorney’s fees and court cost shall be paid by the defendant in the event the
judgement must be, and is, obtained to enforce this agreement or any breach thereof.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
day and year first above written.

FIRST PARTY SECOND PARTY

ROGELIO ANGELES JEAN NIKOLAI B. CASIBANG

Owner COO/VP for operations
Exact Builders
 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES}

PROVINCE OF BULACAN} S.s

Before me, a Notary Public for an in the above jurisdiction, on this __day of MARCH personally
appeared, the persons named below who have exhibited to me competent proof of their identities:
Name Competent Evidence of Identity Date/Place Issued

1.

2.

3.

4.

Known to me and known be the same persons who executed the foregoing
Agreement and acknowledged to me that the same is their own free and voluntary act
and deed.

WITNESS MY HAND AND SEAL on this _____ day of _______ at

____________________, Philippines

NOTARY PUBLIC

Doc No.______

Page No.______

Book No,______

Series No.______