A.

Condition Precedent

Before undertaking the renovation, the Unit Owner must submit to the Declarant or the
Condominium Corporation his plans for approval (which approval must be in writing).
The Declarant or the Condominium Corporation reserves the right to reject or amend
such plans where it finds that the plans will adversely affect the structural integrity of the
Building or otherwise violate the provisions of this Master Deed.

The Unit Owner must also pay to the Declarant or Condominium Corporation the sum
equivalent to ten percent (10%) of the cost of renovation work, or the sum of One
Hundred Thousand Pesos (P1000,000.00), whichever is higher, as construction deposit
which will answer for any damage to the Building or any part thereof, including units
owned by the Unit Owner, less any charges for damages, after the completion of the
renovation work.

Finally, the Unit Owner and/or his contractor must obtain the appropriate government
permits and insurance policy/ies from a reputable insurance company acceptable to the
Declarant or the Condominium Corporation. Such policy or policies should answer for
damage the Building or any Unit therein, third party liability, workman’s compensation,
and the like.

B. No Changes or Deviations from Plans Allowed

Once approved, the Unit Owner shall not change or deviate from the plan, except with
the prior written approval of the Declarant or the Condominium Corporation. The
Declarant or the Condominium Corporation reserves the right to inspect at any time the
renovation work done in the Unit to ensure compliance with the approved plans.

C. Compliance with Rules and Regulations/Fit-out Guide

The Unit Owner and his contractor, as well as the employees of the latter, shall comply
with the Rules and Renovation Work and/or Fit-Out Guide to be Promulgated hereafter
by the Declarant and/or the Condominium Corporation.

D. Subdivision and Consolidation of Units

The Units are specifically designated, described and defined in Section 2, Part I of this
Master Deed. No Unit Owner shall be allowed to subdivide hid Unit into smaller Units
and/or create individual Units, or to consolidate two (2) or more adjoining Units to create
one Unit, unless he obtains the prior written approval of the Declarant or the
Condominium Corporation as required in subparagraph A of this Section.

Section 5. Limitation on the Use of Units and the Common Areas.

The use of the Units and the Common Areas shall be subject to the following limitations:

A. No Unit Owner or Purchaser shall occupy or use or allow his Unit or to be occupied or
used for any purpose other than as residential dwelling.

B. The Common Areas shall be free from any and all obstructions at all times and this
restriction shall be true to all the portions in the Project that are used for ingress, egress
or as access to any portion of the Project, especially the fire exit areas. Nothing shall be
stored in any part of these areas without prior written approval and consent of the
Declarant or the Condominium Corporation.

C. Nothing shall be stored, kept or done in or within the Unit or in the Common Areas which
will increase or otherwise affect the rate of insurance on the Project and/or shall result in
the cancellation of the insurance taken on the Project.

D. Except for Commercial Units, if any, no sign of any kind, apart from the Unit number,
shall be displayed to the public view in or from any Unit or the Common Areas. The signs
of Commercial Units shall be in accordance with guidelines issued by the Declarant or
the Condominium Corporation.

E. Every Unit Owner or Purchaser shall be obliged to keep and maintain his Unit in good
and sanitary condition and repair. The Unit Owner or Purchaser shall not allow any foul
 or offensive odor to emanate from his Unit, nor allow the infestation thereof by insects or
vermin. No noxious or offensive substance shall be stored or kept, or any activity done
or carried on within the Unit or the Common Areas as shall affect the integrity of the
Project and the Buildings, or which may annoy or disturb the peace and quite of the
other units or their occupants.

F. Nothing shall be done or placed in the Unit or in the Common Areas which shall impairs
the structural integrity of the Building or change the appearance of any portion of the
Project.

G. The space between the underside of the concrete ceiling and the upper side of the
finished ceiling in a Unit (the “Servient Unit”) shall be subject to the easement in favor of
the Condominium Corporation of other Units of the same or adjoining floors, acting
through wires, ducts, cables, conduits, public utility lines, pipes and other facilities. This
easement shall be exercised in a manner that will least inconvenience or interfere with
the use and enjoyment of the Servient Unit.

Section 6. House Rules and Regulations.

The use, occupancy and enjoyment of each Unit, whether by the Unit Owner, Purchaser
or his family, lessee, employees or guests shall likewise be subject to such rules and
regulations (“House Rules and Regulations”) as the Condominium Corporation may,
from time to time, make, issue, promulgate and enforce for the convenience of all the
Unit Owners in the Project and for its efficient and beneficial management and operation.

Section 7. Penalties for Violations and Procedure for the Imposition Thereof.

The Board of Trustees shall have the power to determine reasonable remedies and
sanctions, including but not limited to the imposition of fines and interest charges as
provided in this Master Deed, for violation of the Master Deed or any rule or regulation
promulgated and adopted by the Declarant or the Condominium Corporation, It shall also
prescribe the corresponding procedure for implementing said remedies taking into
consideration the gravity of such violation or violations, The exercise of this power shall
be without prejudice to any judicial and extra-judicial remedies under the law. Any
amount due and forthcoming as, and by way of, reparation or restitution, interests, fines
and/or penalties for any violation shall be considered an obligation of the Unit the non-
payment of which will constitute a lien on the Unit and title thereof.

In the event that any Unit Owner or Purchaser, his tenant or lessee, fails or refuses to
comply with any limitation, restrictions, covenant or conditions of the Master Deed, or
with the House Rules and Regulations, or other resolution passed by the Board of
Trustees within the time fixed in the notice given to said Unit Owner, Purchaser, tenant or
lessee, the Board of Trustees or its duly authorized representative, shall have the right:

A. To enter, without prior written notice, the Unit of such violating Unit Owner,
Purchaser, tenant or lessee in which or as to which such violation exists and to
summarily abate and remove, at the expense of such Unit Owner, Purchaser, tenant
or lessee, any structure, thing or condition constituting the violation and the Board or
its duly authorized representatives shall not thereby be deemed guilty of trespass
and unlawful taking.

B. To enjoin, abate or remedy the continuance of such breach or violation by

appropriate legal proceedings.

C. To summarily cut off of discontinue all basic utilities to the Unit such as water,
electricity or emergency power, as well as deactivate the access cards of the Unit
Owner, Purchaser, tenant or lessee until he shall have complied with the limitation,
restriction, covenant or conditions of the Master Deed, the House Rules and
Regulations, or other resolution passed by the Board of Trustees, and until such
breach or violation thereof be remedied to the satisfaction of the Condominium
Corporation.

D. If the breach or violation is committed by a tenant, lessee or guest of the Unit Owner
or Purchaser, to require the Unit Owner to demand that the tenant, lessee, guest or
 any person having access to the premises, to vacate the Unit and leave the premises
of the Project.

E. To ban temporarily or permanently such Unit Owner, Purchaser, tenant or lessee

from the Common Areas and impose such other restrictions as may be reasonable
under the circumstances.

F. To assess against the violating Unit Owner or purchaser, or his tenant or lessee, all
the expenses incurred by the Declarant or Condominium Corporation in the
abatement of the violation, including interests, costs and attorney’s fees.

By way of penalty, the Board may, in its discretion, also impose upon the violating
Unit Owner or Purchaser, his tenant or lessee, liquidated damages in such amount
as it may deem proper according to the gravity of the violation but not exceed twenty
percent (20%) per month of the amount due from the date of violation until such
amount is fully paid.

In addition to the foregoing, the Board may, in its discretion, impose such other
penalties, restrictions, punishments, fines, and consequences as they may deem
reasonable and appropriate for the nature and gravity of the breach or violation
committed by the Unit Owner, Purchaser, tenant or lessee, for purposes of protecting
the interests of all Members, and subject only to limitations under applicable law.

Section 8. Waivers.

No limitations, restrictions, covenants or conditions herein expressed, nor any rules and
regulations hereafter promulgated, shall be considered as waived notwithstanding the
failure of the Declarant or Condominium Corporation to enforce the same and
irrespective of the number of violations made. A waiver to be valid and binding shall be
made in writing and approved by the Declarant or Condominium Corporation.

Section 9. Insurance.

The Declarant or Condominium Corporation shall, for its benefit and for the benefit of all
the Unit Owners in the Project or their mortgages, if any, or as their interests may
appear, obtain and maintain at all times fire insurance coverage with such extended
coverage as is common, usual and customary for similar or like project within the area,
for the full reinstatement of the Project, The value or amount of insurance to be taken for
the Project shall be such amount as shall be considered to be within the coverage as
determined by a reputable appraisal company availed of the Condominium Corporation.
With the conformity of the insurance company concerned, the amount of insurance taken
for the Project may be revised or amended, increased or decreased as circumstances
may require always considering the mutually beneficial result for the maintenance of
such insurance. Th policy of policies shall provide that the proceeds thereof be made
payable to the Condominium Corporation as trustee for the Unit Owners or their
respective mortgagees, if any, and subject to the limitation imposed by law, shall also
provide for a separate loss payable endorsement in favor of any of the mortgagees of a
Unit therein as their interests may appear and in favor of the Condominium Corporation,
as provided in Section 6, Part 1 hereof.

The premium on such policy shall be assessed against each Unit Owner and Purchaser
in proportion to their interest and collected in accordance with standard collection
procedure adopted by the Condominium Corporation, The authority to adjust losses
under the policy or the policies shall be vested in the Condominium Corporation,
provided, however, that an aggrieved Unit Owner may ask that the determination and/or
the adjustment of losses under the policy of policies be referred to a reputable insurance
adjuster acceptable to both parties.

Section 10. Additional Insurance.

Nothing herein contained shall be construed to prohibit any Unit Owner from taking out
an insurance coverage for his Unit and/or the improvement or contents therein, provided,
however, that the additional insurance that will be secured for the Unit and/or the
improvement or contents thereof shall not diminish or decrease the amount of insurance
for the Project, the other Units and the Common Areas, nor will such additional insurance
diminish or decrease the responsibility and/or liability of the Unit Owner in his share in
 the premiums for the insurance coverage for his Unit shall be understood to be guided
by the conditions of this Section. He shall be required to notify the Condominium
Corporation of such an insurance policy within a reasonable time from the issuance
thereof and insofar as practicable, a copy of said policy shall be filed with the
Condominium Corporation.

Section 11. Insurance Claims: Dissolution, Reconstruction.

Unless the conditions for the dissolution of the Condominium Corporation exist as
required by the Condominium Act and required vote of the Condominium Corporation
members decide for dissolution, the proceeds of the insurance policy shall be used for
the reconstruction or repair of the Project or any part or parts thereof. Reconstruction or
repair as used in the present context shall mean restoring the Project or parts thereof to
the same condition with the area of each Unit and the Common Areas having the closest
approximation possible to their horizontal and vertical boundaries as before.

If the insurance proceeds are insufficient to cover the cost of reconstruction or reparation
of the damage done to the Unit or the Common Areas, the deficiency shall be covered by
any fund of the Condominium Corporation existing or from any special fund formed for
capital expenditure. In the event that a deficiency still exists even with said funds, a
special assessment shall be made and/or funds shall be raised in such manner and in
such times that shall be determined in a special meeting of the Members of the
Condominium Corporation called for the purpose.

In the event that reconstruction is not resorted to by the Condominium Corporation and
the dissolution of the Condominium Corporation is opted, then the proceeds of the
insurance policy or policies, as the case may be, shall be paid to the Unit Owners or their
mortgagees, if any, the latter getting only such amount that shall correspond to the
mortgage loan or as can be accommodated with the pro-rata proceeds the mortgagor of
the Unit. It is understood that the distributions or division of the proceeds to the Unit
Owner or his mortgagee, if any, shall be done only after the accountabilities of the
Unit with the Condominium Corporation before the dissolution are fully satisfied.

Section 12. Real Property taxes and Other Impositions.

Each Unit Owner shall be solely responsible for the real property taxes and assessments
accruing on his Unit. The real property taxes accruing on the common areas of the
Project shall be paid by the Condominium Corporation and the amount thus paid shall be
correspondingly shared by the Unit Owners or Purchasers in the Project by following the
formula:

Amount of Percentage (%) of obligation of Share of each

Taxes due on x each Unit Owner as provided = Unit Owner in
the Project For in Sec. 5, Part I taxes

Considering that the Condominium Corporation will hold title to the land on which the
Project is constructed and the Common Areas in the Projects, the real property tax
declaration on the said areas shall be in the name of the Condominium Corporation and
the corresponding taxes thereon shall be shared by all the Unit Owners and Purchasers
in the Project following the formula as indicated above.

In the event that individual assessments for each Unit in obtained, taxes thereon shall be
paid by the Unit Owner or Purchaser directly to the Local Government Unit (LGU)
concerned, and only the real estate taxes and other impositions on the lot and the
Common Areas shall be paid by the Condominium Corporation and the cost thereof
shared by the Unit Owners or Purchasers in the Project.

Section 13. Mortgage Protection.

Notwithstanding all other provisions hereof:

A. Any registered mortgage over the Unit shall be considered to be superior over that of an
unregistered lien. It is provided that the dues forthcoming from the Unit arising out of any
assessment, whether regular or special, or any amount due to the Condominium
Corporation, if still unpaid at any foreclosure proceedings shall at all times be satisfied
before any new evidence of ownership and/or title is issued in the recourse against the
mortgagor for the full amount paid by such mortgage to the Condominium Corporation
relative to the accounts of the subject Unit with the Condominium Corporation.
 B. In the disposition of a Unit, a Unit Owner or Purchaser shall first settle any accountability
with the Condominium Corporation, such as but not limited to the payment of regular or
special assessments, share in the cost of real estate taxes, share in the cost of
insurance premium, and any other charges as the case may be, before the
Condominium Corporation can issue a Certificate of Management required by the
Register of Deeds for a transfer of the Unit.

Section 14. Termination of Declarant’s Responsibility.

Upon the issuance of the certificate of occupancy or occupancy permit for the Project,
the Declarant shall submit to the Condominium Corporation on (1) complete set of “as
built” plans and drawings for the entire Project as certified by the architect and
engineers. From and after the turnover by the Declarant of the common Areas and
facilities of the Project to the Condominium Corporation, the Declarant shall be relieved
from the performance of any further duty or obligations hereunder and the Condominium
Corporation shall be obliged to perform all such duties and obligations of the Declarant.
The Declarant shall assign to the Condominium Corporation all assignable
manufacturers’, contractors’ and sub contractors’ guarantees and the Declarant shall not
be liable for any defects covered by such assigned bonds, warranties and guarantees.
The foregoing notwithstanding, the Declarant shall not be liable in any case for any
defect in construction unless duly notified thereof in writing within six (6) months from the
date of issuance of the certificate of occupancy.

Section 15. Annexation of Additional Lots/Subdivision of Property.

Should, in the future, the Declarant develops additional lots to the Property for the
purpose of, among others, making the same part of the Project, such additional lots may
be annexed to the Property and brought within the jurisdiction of the Condominium
Corporation in accordance with the Condominium Act.

Annexation shall be accomplished by a duly recorded Declaration of Annexation

executed by the Declarant and by the Owner of the annexed lots. The Declaration of
Annexation shall describe the lot annexed and shall state that annexation is being made
pursuant to the provisions hereof for the purpose of annexing the lots so described to the
Property and extending the jurisdiction of the Condominium Corporation to cover the
same. Any Declaration of Annexation recorded in accordance with the terms hereof shall
be conclusive in favor of all persons who rely thereon in good faith. From and after the
annexation, the lots annexed shall be subject to the jurisdiction of the Condominium
Corporation pursuant to the terms hereof.

The Declaration of Annexation contemplated above may contain such complementary

additions and modifications of the covenants, conditions and restrictions contained in this
Master Deed with Declaration of Restrictions as may be necessary to reflect the different
character, if any, of annexed lot. In no event, however, shall such Declaration of
Annexation revoke, modify or add to the covenants establishment by this Master Deed
with Declaration of Restrictions (except as otherwise allowed by this Master Deed with
Declaration Of Restrictions).

On the other hand, in the event that the Declarant decides to discontinue with the
development of any of the subsequent phases of the Project prior to it having obtained
the relevant license(s) to sell thereof, the Project referred to herein shall consist of the
developed phases of the Project and the Declarant shall, without need for obtaining any
consent from the Unit Owners or the Condominium Corporation: (i) cause the subdivision
of the lots for the purpose of conveying to the Condominium Corporation only that
portion of the lots on which the developed phase or phases has or have (as applicable)
been constituted; and (ii) amend this Master Deed with Declarant under Section 16(E)
hereof.

Section 16. Miscellaneous Provisions.

A. Eminent Domain.

In case of expropriation of all or any portion of the Common Areas of the Project, any
award received on account thereof shall be paid to the Condominium Corporation and
shall be paid by the Condominium Corporation to the Unit Owners in accordance with
 their respective interest in the Corporation as determined in Section 6, Part I of this
Master Deed.

B. Obligations of a Purchaser of a Unit.

From and after the date of issuance of the certificate of occupancy of the Building, the
purchaser under a deferred payment plan (Contract to Sell) who has not yet completed
his payments but has taken possession of the Unit shall be liable like any Unit Owner for
any and all obligations, assessments and taxes provided for in this Master Deed.

C. Enforcement.

The Condominium Corporation shall have the right to enforce by proceedings in law or in
equity, all restrictions, conditions covenants, reservations, liens and charges now or
hereafter imposed by the provisions of this Master Deed, or any amendment and/or
supplement thereto, including the right to prevent any further violation of any such
restrictions thereto, including the right to prevent any further violation of any such
restrictions, conditions, covenants or reservations and the right to cover damages or
assess expenses from an erring Unit Owner or Purchaser for any violation. The
Condominium Corporation shall also be empowered, to the extent provided for in the By-
laws, to impose separate assessments on some or any one of the affected Unit Owners
or Purchasers to cover the costs of any suit, attorney’s fees or litigation expenses.

Failure by the Condominium Corporation to enforce any covenant, conditions or

restriction herein contained in any instance or any particular occasion shall not be
deemed a waiver of any breach of the same covenant, condition or restrictions.

D. Severality.

The invalidity of any one of the covenants, conditions or restrictions provided herein as
declared by final and executory judgement shall not in any way affect any other
provisions which shall remain in full force and effect.

E. Special Power of Attorney

The Declarant is hereby appointed and empowered by each Unit Owner as their agent
for the purpose of (i) changing the name of the Project, (ii) determining the locations of
the parking slots assigned to the Units within the Project, (iii) amending, modifying or
revising any Annex or provision hereof of this Master Deed for the purpose of having the
Annex or provision hereof conform to the final building plans and specifications “as-built’
plans for the project; and (iv) exercising any other rights or powers incidental or related
to any of foregoing purposes as may be necessary to effect such purpose, including the
execution of the necessary amendment or supplement to this Master Deed and other
documents as may be required for such purposes, and the registration thereof on the
transfer certificates of title corresponding to the Project. This special power of attorney
shall be deemed coupled with an interest and hence irrevocable. The matters in respect
of which the Declarant has been granted a special power of attorney shall be reasonably
decided or determined at its discretion.