CONTRACT AGREEMENT

This Construction Contract (the “Contract”) is made as of this ___ day of __________, ______, by and
between ________Construction and Development Corporation, who desires to provide Construction
services ___________________________________ [Owner] who desires to obtain such services from
________Construction and Development Corporation.

WITNESSETH:

In consideration for the mutual promises set forth below, the parties agree as follows:

1) Scope of Work

Construction and Development Corporation will provide materials, services, and labor for the
construction of “______________________________” located at: _________________________, herein
referred to as “Worksite.”

This includes necessary labor and site management, building and construction materials, and required
tools and machinery needed for construction as stipulated in the attached Bill of Quantities.

The Owner shall be responsible for obtaining the necessary permits, licenses, and other documents in
connection with the construction of the Worksite and the operation of their business and the use of their
premises.

2) Contract Price

The Owner shall pay Construction and Development Corporation the sum of Pesos
(Php)____________________ for the material and labor to be performed under the Contract, subject to
any additions and/or deductions made pursuant to authorized change orders.

3) Completion Time

The parties agree that time is of the essence, and therefore the work to be performed under this Contract
shall be completed within _____ Calendar Days upon issuance of “Notice to Proceed” (NTP), collection
of Downpayment, and approval of Building Permits by the requisite authorities.

The Owner further undertakes to uphold the Contractor's right to have peaceful uninterrupted work during

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the course of construction. Any disturbance or discontinuance of construction caused beyond the
Contractor’s reasonable control (e.g., Design Changes, Late Delivery of Owner-Supplied Materials,
Third-Party Disturbances) shall confer no right to the Owner as against the Construction and
Development Corporation.

4) Payments

Payments of the Contract price shall be paid in the following manner:

30% Downpayment, remaining balance by progress billing made by Construction and Development
Corporation until turnover/completion of project.

100% Full payment expected to be completed by Owner upon turnover/completion of project.

If __________________________[Owner] fails to pay for the services when due, Construction and
Development Corporation has the option to treat such failure to pay as a material breach of this
Contract, and may seek judicial relief/legal remedies and/or cancel this Contract. Venue of such court
action for judicial relief shall be exclusively in the courts of Quezon City.

5) Compliance

Construction and Development Corporation shall provide the Services in a workmanlike manner, and
in compliance with all the specifications identified on plans or Site Instructions when applicable with
corresponding documentations.

6) Subcontractors

Construction and Development Corporation may engage subcontractors to perform work at its
discretion hereunder, provided Construction and Development Corporation shall pay said
subcontractor and in all instances remain responsible for the proper completion of this Contract.

7) Modifications

All changes to Services shall be in writing and signed by both Owner and Construction and
Development Corporation. Additional works will not be engaged upon without express written consent

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from the Owner.

8) Integration

This Contract contains the entire Contract of the parties, and there are no other promises or conditions in
any other contract whether oral or written concerning the subject matter of this Contract. Any
amendments must be in writing and signed by each party. This Contract supersedes any prior written or
oral agreements between the parties.

Signed this _____ day of _____________, ________.

____________________________

Owner/Authorized Representative
Complete Name/Signature