EXERPT FROM THE MINUTES OF THE SPECIAL MEETING OF THE BOARD OF DIRECTORS OF GVJ

BUILDERS and CONSTRUCTION SUPPLY CORPORATION, HELD IN ITS OFFICE AT TALAVERA,

BALAMBAN, CEBU ON JANUARY 24, 2021 AT 8:00 AM.

BOARD RESOLUTION NO. 0001

RESOLUTION GIVING AUTHORITY TO CIRILO PAEL TECSON TO OBTAIN A LOAN ON BEHALF OF GVJ
BUILDERS and CONSTRUCTION SUPPLY CORPORATION FROM 1 ST VALLEY BANK INC., A
DEVELOPMENT BANK.

WHEREAS, In a Special Meeting of the Board of Directors of GVJ BUILDERS and CONSTRUCTION
SUPPLY CORPORATION held in its office at Talavera, Balamban, Cebu, on January 24, 2021 at 8:00
am, the following agenda were taken, to wit:

1) To authorize and to do the following:

a) Authorize Cirilo Pael Tecson on behalf of GVJ BUILDERS and

CONSTRUCTION SUPPLY CORPORATION to enter, obtain and sign a loan
agreement with 1st Valley Bank, Inc., A Development Bank;

b) To be the representative of GVJ BUILDERS and CONSTRUCTION SUPPLY

CORPORATION in this loan transaction, with the authority to borrow up
to the amount of Php 2,000,000.00

c) To sign any documents in relation to this loan;

d) The loan shall be covered by Real Estate Mortgage over two (2) parcels
of titled land plus improvements thereon, identified as follows:

e) Transfer Certificate of Title No. 113-2018000942, Lot Number 4, Pcs-07-

006975, issued by the Register of Deeds of Toledo City with a total area
of ONE THOUSAND EIGHT HUNDRED SEVENTY SEVEN (1,877) square
meter more or less;

Owner: SPOUSES CIRILO P. TECSON and SARAH P. TECSON

Tax declaration No. 2018-149017-01318

2) To do any and all powers conferred upon him, by the Corporation.

WHEREAS, the authority herein granted is sufficiently beneficial to and is in furtherance of

the business and interest of the Corporation;

WHEREAS, Director moves the approval of the above-enumerated

agenda;

WHEREAS, Director seconded the said motion and resolved that the said act
affirmed and confirmed;

WHEREAS, as severally moved and jointly seconded by the majority of the member present,
it was;
 RESOLVED by the Officers and Board of Directors of GVJ BUILDERS and CONSTRUCTION
SUPPLY CORPORATION as it is hereby resolved to authorize Cirilo Pael Tecson to obtain a loan from
1st Valley Bank Incorporated subject to all conditions sets therein, and to represent the
corporation, sign all the necessary documents in relation thereto.

NOW, THEREFORE, TO BE IT RESOLVED, as it hereby resolved the approval of the said

agenda.

DONE this 24th day of August, 2018 at Dumlog, Toledo City,

I HEREBY CERTIFY that this true and correct Board Resolution, duly approved and adopted
this _____ day of January 2021, at Dumlog, Toledo City.

Witness whereof, this certification has been signed this _____ day of January 2021, at
Dumlog, Toledo City

__________________________________
Corporate Secretary
GVJ BUILDERS and CONSTRUCTION SUPPLY CORPORATION

SUBSCRIBED and SWORN to before me this ____ day of February 2021 at Toledo City
Philippines.

Attested by;

__________________ __________________
Member of the Board Member of the Board