TERMS OF AGREEMENT

This agreement is written regarding the completion of the “1-Storey Residential

Building” located at Poblacion, Tampilisan, Zamboanga del Norte and constructed
between the period of July __, 2022 until its completion on December __, 2022 a total
of __ Calendar days. This agreement is being entered by DBT ArkiCon Const. Services,
the Contractor hereon referred to as Party A and Kylla Ruth Benlot, the Owner, hereon
referred to as Party B.
1. This agreement takes into account the Original Contract Amount agreed by
both parties of Nine Hundred Twenty Two Thousand Eight Hundred Pesos only (PHP
922,800.00). As a condition to the posting of the outstanding payment of Forty Six
Thousand One Hundred and Forty Pesos only (PHP 46,140.00) which amounts to 5%
of the original Contract Amount, Party A releases Party B from any legal liens and
Party A hereby declares that Party B has fulfilled their contractual obligations. Party A
requires Party B to pay this amount on or before the _________ of __, 20__ after the
completion of the works.
2. Party A guarantees the structural integrity of the building and is still liable for
any defect in the Work up to one year of the posting of the final payment, if:
1. the defect is hidden;
2. the Owner’s acceptance of the Work was made with reservations to
specific portion of the Work;
3. inferior work apparent upon inspection by the Owner; and
4. hidden defect discovered within the warranty period or within one year
from the final payment.
3. Party A, the Contractor, is likewise liable for damages if the edifice falls, within
fifteen years from completion of the structure, on account of defects in the construction
or the use of materials of inferior quality or due to any violation of the terms of the Con-
tract as provided in Article 1723 of the Civil Code of the Philippines.

The Contractor, Party A The Owner, Party B