CONSTRUCTION CONTRACT AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Contract is made and executed this 14th day of February 2017 in the City of Quezon
by and between:

JOYWIDE DEVELOPMENT CORPORATION, a corporation duly organized and

existing under and by virtue of the laws of the Philippines, with principal office and
postal address located at 154 D. Tuazon St. Sta. Mesa Heights, Quezon City. represented
herein by its President, Philip Gosiaco, hereinafter referred to as the OWNER;

- and -

VITORIA CONSTRUCTION AND DEVELOPER INC., a corporation duly

organized and existing under and by virtue of the laws of the Philippines, with principal
office and postal address located at #11 VICTORIA AVE., BARANGAY SAN
ISIDRO, BROOKSIDE SUVD., CAINTA, RIZAL represented herein by its Vice-
President, MR. LEO LEI hereinafter referred to as the CONTRACTOR;

WITNESSETH:

WHEREAS, the OWNER in its desire to start the construction OF PROPOSED

OFFICE AND DORMITORY BUILDING located at 165 QUIRINO HI-
WAY,BRGY. BAESA, QUEZON CITY has subjected the award of Contract for the
complete construction of the aforesaid project which was subjected to a bidding that were
participated in by several pre-qualified contractors;

WHEREAS, the OWNER after evaluating the bids submitted by the participating
bidders has determined that the CONTRACTOR has submitted the most advantageous
quotation for undertaking the various work components of the Project;

WHEREAS, the CONTRACTOR having represented and warranted itself to

possess the necessary expertise, experience, manpower, technical and financial resources
as well as the management and supervisory capabilities to undertake the PROJECT, has
manifested its intention to construct the PROJECT for the OWNER under the terms and
conditions as may mutually agreed upon by both parties;

WHEREAS, on the basis of such manifestation and representation made by the

CONTRACTOR to the OWNER, the latter cognizant of the former's competence as a
reliable CONTRACTOR with a good track record as has been established during the
pre-qualification and contract negotiation stages, has agreed to engage the services of the
CONTRACTOR to undertake the aforesaid PROJECT subject to terms and conditions
hereinafter set forth;

WHEREAS, the OWNER has engaged the services of ENGR. CAMILO

CASTRENCE JR. herein referred to as ARCHITECT/ENGINEER (AE) who prepared
the plans, specifications, working drawings, and other pertinent contract documents for
the PROJECT;

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 NOW THEREFORE, for and in consideration of the foregoing premises, and the
mutual covenants and stipulations herein set forth, the parties hereto have agreed and do
hereby mutually agreed as follows:
ARTICLE I
CONTRACT DOCUMENTS

1. The contract Documents shall consist of this Agreement and the following
documents which are hereto incorporated and made integral parts hereof:

a) Annex-A, Approved Construction Drawings and Technical Specifications

as prepared by the ARCHITECT/ENGINEER

b) Annex-B, Instructions to Bidder, Contractor's Bid Proposal including bid

schedule and detailed unit price estimates.

c) Annex-C, Agreed Contract Work Breakdown based on the Lump-Sum

Contract Amount Agreed.

d) Annex-D, CONTRACTOR's Table of Organization for the PROJECT

with its manpower loading chart.

e) Annex-E, CONTRACTOR's duly approved Construction Schedule in the

form of bar chart with S-curve and/or PERT-CPM Network Chart that
shall be submitted prior to the signing of contract.

Annexes D & E above may be modified from time to time during the construction
base on the remaining contract duration, subject to the approval of the OWNER.

f) Annex-F, Contractor’s All Risk Insurance as covered in Article IX hereof.

2. The other documents which hereafter may be mutually agreed upon by and
between the OWNER and CONTRACTOR and signed by both of them, whether
prepared before or after the signing of the foregoing documents, shall likewise
form part of the Contract Documents.

ARTICLE II
SCOPE OF WORK, WARRANTIES &
RESPONSIBILITIES OF THE CONTRACTOR

1. The CONTRACTOR shall not change or alter the plans and specifications
without prior written approval of the OWNER. A mere act of tolerance by
OWNER shall not constitute or be deemed an approval.

2. The CONTRACTOR shall furnish and supply the complete labor, equipment,
tools and implements supervision necessary to undertake the smooth
implementation and completion of the Project in accordance with the prescribed
plan and specifications and as directed by the Contract Documents, except as
otherwise stipulated herein.

3. The CONTRACTOR’s basic scopes of work shall be that which are reflected in
Annex-C hereof entitled Agreed Contract Work Breakdown. The quantities and
unit prices of work items listed in Annex-C are shown therein only for the
purpose of facilitating the evaluation of periodic work accomplishment for
computing progress payments. Hence, any variances between these quantities and
the actual quantities of works, and between these unit prices and the actual cost of
the respective work items shall not affect or alter the lump-sum contract price
stipulated in Article IV herein.

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4. CONTRACTOR shall likewise be responsible for the following;

a) Construction of temporary facilities such as offices, bunkhouses and

warehouse for the storage of construction materials needed for the
execution of its work. The said facilities shall be provided and be made
usable for the whole course of the construction duration.

b) Maintain the general cleanliness and sanitation of the site and undertake
clearing of site and removal of construction debris during the entire
contract period resulting from its work. After the final completion but
before acceptance of the work and final settlement had been made
between the parties, the CONTRACTOR shall forthwith remove all
surplus materials, scaffoldings, apparatus, machinery, tools and equipment
not part of the work furnished or supplied by its work and leave the work
free and clean of all obstructions and hindrances.

5. The CONTRACTOR shall hire all workers for the construction work and shall be
solely responsible for the payment of their wages. In case of any accident or
injury that may happen in the course of the construction, the CONTRACTOR
shall comply with the Worker’s Compensation Act, the Minimum Wage Law and
all other laws, ordinances and regulations

6. CONTRACTOR shall employ sufficient number of men at all times, maintain an

adequate supply of tools and equipment to carry out the various phases of the
work in accordance with the agreed program of work subject to any exception
which may be mutually agreed upon in writing by both parties.

7. The CONTRACTOR shall diligently supervise the construction until completion

and it shall assign a Project Manager who will make a daily monitorial visit of the
Project to ensure proper work and schedule implementation and a full time
competent civil engineer who shall act as Project Supervisor. In addition, the
CONTRACTOR shall also employ a competent general construction foreman on
full-time to duly supervise the workmen under this Contract. The OWNER and
the CONSTRUCTION MANAGER reserves the right to reject for reasonable
causes any person or persons employed by the CONTRACTOR for the
construction work and the omission of the OWNER to exercise such right shall
not in any way relieve the CONTRACTOR of its responsibility to fulfill its
undertakings.

8. The CONTRACTOR shall during the term of this Contract coordinate with the
work of the other tradesmen or specialty contractors of the other Construction
Packages in addition to its own, but shall not supervise work of the other trade
contractors.

9. In case of any defect(s) on workmanship or materials which may be apparent in

the course of the construction, the CONTRACTOR, upon the request of the
OWNER/CONSTRUCTION MANAGER/ARCHITECT/ENGINEER, shall at its
own expense, tear down and replace such portion of the work done and/or
materials installed that, as in the OWNER’s reasonable opinion, are unsound or
defective, without prejudice to the provision 9.0 of this Article.

10. The CONTRACTOR guarantees that any damages resulting from such defects
shall be corrected without expenses to the OWNER. If the CONTRACTOR fails
to correct or repair the defects within seven (7) calendar days from the receipt of
written notice thereof from the OWNER or the CONSTRUCTION MANAGER,
the OWNER or the CONSTRUCTION MANAGER may have the work or repair
done by another contractor at the expense of CONTRACTOR or with expenses
collective from the Retention Money.
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11. The CONTRACTOR shall be responsible for any and all damages to, and for the
necessary repair of public streets, sidewalks, curbs and pavements, developments
by other contractors and other properties, whether public or private, occasioned
by their use or opening in connection with or as a consequence of the PROJECT
that are attributable to the CONTRACTOR; shall make good the same to the
lawful satisfaction of the proper authority of party, and hereby holds the OWNER
free and harmless from any such damage or repair.

12. The CONTRACTOR shall put up and maintain adequate protection of all its
works from damages and shall protect the property and equipment whether owned
or rented by the OWNER, as well as all materials furnished and delivered to it by
the OWNER from injury of loss arising in connection with this Contract until
final acceptance of the PROJECT by the OWNER.

13. The CONTRACTOR represents that it had and shall maintain throughout the
period of this Contract, adequate capitalization, financial capability, technical
know-how and manpower to undertake and complete the PROJECT.

14. The CONTRACTOR warrants that it shall have obtained any and all clearances
and approvals other than permits, from the proper authorities in accordance with
its undertaking, if necessary or required.

15. The CONTRACTOR shall provide everything necessary or appropriate towards

the proper accomplishment and completion of the PROJECT according to the true
intent and meaning of the drawings, plans and specifications and other Contract
Documents taken together, whether the same may or may not be particularly
shown on the drawings or described in the specifications; provided that, the same
is reasonably inferred therefrom. If the CONTRACTOR finds any discrepancy in
the drawings or between the drawings and specifications, the CONTRACTOR
shall immediately refer the same to the ARCHITECT/ENGINEER who shall
finally decide on what shall be followed. It is understood that such discrepancy in
the plans, specifications and actual condition were anticipated by the contractor
during the bidding and before the awarding of the contract.

16. The CONTRACTOR hereby recognizes the position of trust and confidence
reposed on it by the OWNER under this Contract and agrees to furnish its best
skill and judgment to cooperate with any of the OWNER’s authorized
representatives in furthering efficient business administration and superintendent
in the performance of this construction and to secure the execution of this
Contract in the soundest way, in the most expeditious and economical manner,
consistent with the interest of the OWNER.

17. The CONTRACTOR shall pay all lawful fees including sidewalk or roadway
utilization fees, and for all damages for sidewalks, streets, any public utilities or
properties.

18. The CONTRACTOR shall secure all certificates of inspection or testing that may
be required by authorities having jurisdiction over the work.

ARTICLE III
THE RIGHTS AND RESPONSIBILITIES OF THE OWNER

1. The OWNER shall have the right to supply the CONTRACTOR with additional
drawings, instructions and documents as it may deem necessary for proper and
adequate prosecution of the PROJECT.

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2. The OWNER may rescind, terminate or cancel the Contract without incurring any
liability whatsoever to the CONTRACTOR, his bondsmen, employees, or third
parties by giving fifteen (15) days notice in writing to the CONTRACTOR upon
any of the following grounds;

a) The OWNER discovers that the CONTRACTOR (a) has violated or is

violating any of the conditions of the Contract, or any Contract
Documents, or of CONTRACTOR’s warranties; (b) has abandoned the
PROJECT or without the prior written consent of the OWNER has
assigned the execution of the PROJECT to others; (c) is not performing
his obligations of executing the PROJECT in good faith, or in accordance
with the plans and specifications; (d) is not making such progress in the
execution of the work so as to ensure its completion within the period
stipulated; or (e) has shown himself incapable of doing or incompetent to
do the PROJECT;

b) The OWNER decides to suspend or discontinue the execution of the work

stated, described, or provided for in the Contract by reason of problems
encountered by the OWNER whatever may be the cause. In such a case
the CONTRACTOR shall be entitled to due compensation for work
accomplished up to the time the contract is rescinded.

c) When the CONTRACTOR fails to provide a qualified superintendent or

competent workmen; or

d) When the CONTRACTOR fails to make prompt payment to workmen.

In any of the above cases the OWNER shall first give the CONTRACTOR a
fifteen (15) days written notice indicating the violation and demanding
correction/remedy thereof.

3. In case of rescission/cancellation/termination of Contract, the OWNER may retain

all amounts due the CONTRACTOR for approved billings and the retention
money and apply them to the payment of all damages sustained by the
CONTRACTOR to the OWNER.

4. The OWNER shall exercise the right to approve the workmanship of the
CONTRACTOR.

5. The OWNER shall have the right to inspect the work being done by the
CONTRACTOR to insure that the said work is being done properly in accordance
with the prescribed plans and specifications. Work that will be covered before it
is done should be up for inspection and work covered without such inspection,
may be ordered uncovered at the CONTRACTOR's expense. Work found not to
have been done correctly may be condemned and ordered re-done. Even if work
had passed inspection, but before final acceptance, if the OWNER suspects that
the work was done not in accordance with the plans and specifications, it may be
removed or even torn down. The CONTRACTOR is obliged to comply with this
order. If the inspection later should show that the work is not correctly done, the
CONTRACTOR shall pay for the cost of removal and reconstruction; if not, the
CONTRACTOR shall be paid the cost incurred and if warranted, an extension of
contract time.

6. The OWNER can exercise his right to change his mind by ordering changes in the
CONTRACTOR's scope of work through alterations, additions, or deletions of
some items of work which he feels would serve his best interest.

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7. The OWNER is entitled to indemnity from the CONTRACTOR for all losses and
all claims, demands, suits, actions, recoveries, and judgment of every nature and
description brought or recovered against him, by reason of any act or omission of
the CONTRACTOR, his agents or employees, in the execution of the work or
guarding of it.

ARTICLE IV
CONTRACT PRICE AND MANNER OF PAYMENT

1. For and in consideration of the full, faithful and complete performance of the
works called or under this Agreement, the OWNER shall pay the
CONTRACTOR the lump sum amount of PESOS: SIXTY MILLION PESOS.
(P 60,000,000.00)

2. Representations for the processing of all permits, should there be, are already
anticipated and included in the proposal.

3. The above Contract Price shall not be subjected to escalation due to any
fluctuations in the prices of labor, materials and equipment. All costs and
expenses over and above the agreed Contract Price shall be for and the sole
account of the CONTRACTOR.

4. The above Contract Price is exclusive of 12% VAT.

5. The OWNER shall pay the CONTRACTOR the down payment the amount of
PESOS: EIGHTEEN MILLION PESOS. (P 18,000,000.00) representing Thirty
Percent (30%) of the total contract amount.

6. The OWNER shall pay the CONTRACTOR the balance of the Contract
Price through monthly progress billings based on the periodic actual work
accomplished by the CONTRACTOR as certified and duly endorsed for
approval by the Construction Manager, payable within SEVEN (7) calendar
days after presentation of a corresponding billing and complete supporting
documents. The aforesaid billings shall be subjected to pro rata deduction of
liquidation of the down payment and Ten Percent (10%) retention. The TEN
percent (10%) shall be released after sixty days, upon submission of
Guarantee Bond, As-built plans and Occupancy Permit.

ARTICLE V
CONTRACT PRICE ADJUSTMENT

1. The Owner may, without invalidating this Agreement, order at any time in
writing, additional work or alterations by correcting, altering, or deducting from
the work to be undertaken by the Contractor. All such work shall be evidenced by
Change Order forms signed by the Owner and shall be executed under the
conditions hereof and of the Contract Documents.

2. No claims of additions or deductions to the Contract price herein stipulated by a

reason of extra work or alteration shall be valid unless ordered in writing by the
Owner/Architect. The value of any extra work or alterations shall be separately
agreed upon by the parties in writing.

3. Should the Owner require the Contractor to perform additional and/or extra work
or to omit or reduce any work, the cost of additional and/or omitted or reduced
work shall be computed based on actual accomplishment and agreed unit prices.

Formulations for the change order cost derivation are as follows:

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 a. For additional works: prevailing unit cost of materials, equipment rentals and
labor plus 12% mark-up corresponding to the profit, taxes and miscellaneous
costs. Prices of materials shall be based on the prevailing market prices at the
time the work order is made.

b. For deductive works: As per contract unit cost of materials, equipment rentals,
and labor less 6% mark-up. Prices of materials shall be based at the time the
bid was submitted by the Contractor.

4. Any value of Change Orders approved shall be considered as part of the Contract
and to be included in the progress billings.

ARTICLE VI
CONTRACT TIME

1. Since time is of essence in this Contract, the Works called for herein shall be
completed up to a maximum of 10 months reckoned from release of Building
Permit or one (1) month after release of down payment of contract,
whichever comes first. Failure of the CONTRACTOR to complete the said
works within the stipulated time frame shall make him liable for the
payment of liquidated damages.

The CONTRACTOR may request the OWNER for an extension of the Contract
Time in the occurrence of events of force majeure, or acts of God which include
earthquakes, floods, typhoons, cyclones, revolution, war, tidal wave, and other
cataclysmic phenomena which are beyond the control of the CONTRACTOR; or
should delay in work be incurred by act, delay of the OWNER, the
ARCHITECT/ENGINEER or other persons employed by the OWNER including
delay in the delivery of OWNER-Furnished materials and in progress payments.

This request for extension shall be filed and submitted in writing by the
CONTRACTOR within fourteen (14) calendar days from the occurrence of any
one or more events mentioned above, the OWNER shall decide within ten (10)
calendar days from receipt of such written request, with due regard to the facts
and circumstances and of the merits or lack of merits, thereof, as the case may be,
grant or deny the said request. Should the Contractor failed to officially request
an extension due to any events mentioned above within fifteen (15) calendar
days reckoned from its occurrence, such shall not be given merits if claimed by
the Contractor later as a reason to justify the delays.

Regardless of the decision of the OWNER on this matter, the CONTRACTOR

shall proceed with its work with such determination without prejudice to the
provision on Arbitration.

2. Notwithstanding the foregoing, no time extension on the time duration shall be

granted in any of the following instances:

a) Ordinary unfavorable weather conditions - monsoon rain;

b) Non-availability of equipment that are supposed to be furnished by the

CONTRACTOR;

c) Labor problems or disputes involving the CONTRACTOR’s employees,

workers or personnel or those of its subcontractors, agents, or supplier;
and

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 d) When the reason given for a request for extension had already been
considered in the determination of another previous request for time
extension.

e) Deletion of work described in the plan and specification; the Contractor

shall carry out the requirements of the Owner and shall perform the
deletion work in a satisfactory and workmanlike manner and to the
satisfaction of the Owner within the prescribed time frame.

ARTICLE VII
FAILURE TO COMPLETE THE WORK/LIQUIDATED DAMAGES

1. Should the CONTRACTOR fail to complete the PROJECT within the specified
schedule as per original work required or within the period of extension
granted by the OWNER, the CONTRACTOR agrees;

a) To pay the OWNER the Lump sum amount of PESOS: THREE

THOUSAND (Php. 3,000), for each day of delay including Sundays and
holidays as liquidated damages. To be entitled to such liquidated damages,
the OWNER need not prove that it has incurred actual damage. Payment
of such liquidated damages shall not in any manner relieve the
CONTRACTOR from its obligations and responsibilities under this
Agreement; and .

b) To allow the OWNER and/or another CONTRACTOR chosen by the

OWNER to accomplish and finish the PROJECT as provided for in
Article VIII herewith.

2. It is further agreed and understood that the right of the OWNER to liquidated
damages shall be without prejudice to its rights of remedies against the
CONTRACTOR provided elsewhere in this Agreement or to which the OWNER
maybe entitled in law of equity.

3. The OWNER may deduct any amount that may be due under Article VII, Section
1.a above from the retention stated in Article IV, Section 6.0 above.

ARTICLE VIII
DEFAULT OF CONTRACTOR

1. Any or all the following conditions shall constitute DEFAULT of the

CONTRACTOR;

Should CONTRACTOR;

a) file a petition for suspension of payment or for insolvency;

b) be placed under receivership or arrange with or assign in favor of its

creditor or agree to carry out its obligations under this Agreement under a
committee or inspection of its creditors;

c) go into liquidation (other than voluntary liquidation for purposes of

amalgamation or reconstruction);

d) assign any or all parts of this Agreement without the prior written
consent of the OWNER;

e) have an execution levied on its goods or assets;

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 f) fail to provide qualified superintendent and competent workmen;

g) fail to promptly pay its workmen;

2. The CONTRACTOR shall also be in default if the CONTRACTOR;

a) has abandoned the Agreement; or

b) without reasonable excuse has failed to commence the work or has

suspended the progress of the work for ten (10) calendar days after
receiving from OWNER written action that said materials of work had
been condemned and rejected by the OWNER/CONSTRUCTION
MANAGER/ARCHITECT under these conditions; or

c) despite previous warning by the OWNER in writing, is not executing the

work in accordance with this Agreement or is persistently or flagrantly
neglecting to carry out is obligations under this Agreement.

3. The following procedure shall be followed in determining whether this

Agreement may be terminated under the immediately preceding clauses;

If the CONTRACTOR is behind schedule by more than ten percent (10%), he will
be required to revise this Critical Path Method (CPM) Network to reflect a new
program of work that will insure the completion of the PROJECT as scheduled. If
he is delayed again by another five percent (5%) based on the revised CPM
Network, then the OWNER may terminate this Agreement under the immediately
preceding clauses.

4. If the CONTRACTOR refused or failed to execute the work or any separable part
thereof with such diligence as will insure its completion within the time specified
in this Agreement, or any extension thereof, or failure to complete said work
within such time, also constitute default of the CONTRACTOR.

5. Should any or all of the grounds enumerated above exist, OWNER, after giving
fifteen (15) calendar days written notice and without the necessity of any judicial
process of action in law, enter upon the site and the works and expel the
CONTRACTOR therefrom immediately, without voiding this Agreement, or
releasing the CONTRACTOR from any of its obligations or liabilities under this
Agreement, or affecting the rights and powers conferred on the OWNER by this
Agreement. OWNER itself may complete the works. All essential equipment
belonging to the CONTRACTOR as may be needed for the completion of the
PROJECT in accordance with the plans and specifications and related documents
shall, at the option of the OWNER, remain in the place of work until reasonably
completed under the circumstances.

ARTICLE IX
INSURANCE

1. All kind of insurances and SOP Permits are to be shouldered by the OWNER.

ARTICLE X
COMPLETION AND FINAL ACCEPTANCE

1. When the work required and called for under this Contract is completed,
completion means 100% completed with Occupancy Permit, water and electricity,
with all the materials per contract installed, tested, and without defects, the
CONTRACTOR shall notify the OWNER in writing and request for a final
inspection, which inspection shall be conducted and completed by the OWNER
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 within seven (7) calendar days from receipt of the CONTRACTOR's Request-for
Inspection letter.

2. Should the work be found satisfactorily done, the OWNER/CONSTRUCTION

MANAGER/ARCHITECT shall, within three (3) calendar days from the last day
of inspection, issue the Certificate of Completion of the Project, and the balance
of payment found to be due less the five percent retention.

3. If the work is found defective, however, the OWNER/CONSTRUCTION

MANAGER/ARCHITECT shall, within three (3) calendar days from the last day
of inspection, advise the CONTRACTOR of the defects by issuing an Official
Punch List.

4. Upon the correction of the items contained in the Official Punch List, the
CONTRACTOR shall again inform the OWNER in writing and request for an
inspection to be completed within seven (7) calendar days from the receipt of the
said notice.

5. Should the correction made by the CONTRACTOR of the items contained in the
Official Punch List be found satisfactory, the balance of payment found to be due,
the CONTRACTOR shall be paid immediately and the OWNER shall, not later
than seven (7) calendar days after the last day of inspection, issue the Certificate
of Final Acceptance.

ARTICLE XI
ARBITRATION

1. Matters concerning any dispute, controversy or differences between the parties

arising out of this Agreement that may not be resolved by them to their mutual
satisfaction, shall be submitted to an Arbitration Committee, composed of three
(3) members chosen as follows: One (1) member shall be chosen by the OWNER,
and One (1) member shall be chosen by the CONTRACTOR. The said two (2)
members in turn shall select a third member acceptable to both of them. The
arbitration process shall be initiated by either party serving upon the other party a
written demand for arbitration in accordance with this Agreement within fifteen
(15) calendar days from the occurrence of any dispute, difference or controversy.
The demand shall set forth the nature of controversy, the amount involved, if any,
the relief sought, and the name of the arbitrator appointed by the party on whom
demand is served to name its arbitrator within fifteen (15) calendar days from
receipt thereof. The two (2) arbitrators must agree upon the third arbitrator within
ten (10) calendar days from the notice of appointment. The decision of the
Arbitration Committee shall be final and binding upon OWNER and the
CONTRACTOR. Matters not otherwise provided for shall be governed by the
provision of the Arbitration Law (Republic Act 876) the cost of arbitration shall
be borne jointly by both the CONTRACTOR and the OWNER on an equal basis.

2. In case of litigation respecting the composition, proceedings or award of

Arbitration Committee, venue shall be in the proper court of Valenzuela City. In
such case, the prevailing party shall be entitled to collect from the other a sum
equivalent to twenty-five percent (25%) of the total amount due, as and for
attorney's fee.

3. Matters not covered by the above provisions shall be completed and

supplemented by the General Conditions of Contract.

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 ARTICLE XII
MISCELLANEOUS

1. SUBCONTRACTING OF THE PROJECT: The CONTRACTOR shall not

assign, sublet or sub-contract any portion of the PROJECT covered by this
Agreement except upon prior written approval by the
OWNER/CONSTRUCTION MANAGER/ARCHITECT. Any such assignment,
sub-lease or subcontracting shall be subject to the pertinent provision of this
Agreement. Violation of this provision shall constitute a ground for the
termination of this Agreement by the OWNER.
2. WARRANTY WORKS: The CONTRACTOR guarantees the quality of the
workmanship under this Agreement for a period of twelve (12) months from the
issuance of Certificate of Final Acceptance of the project. In this connection, the
CONTRACTOR agrees to undertake, as warranty works, the correction of all the
defects attributable to the CONTRACTOR's fault appearing after the completion
of the PROJECT.

3. COMPLIANCE WITH LAWS, ORDINANCES, ETC.: The CONTRACTOR

shall comply with all the laws, ordinances, rules and regulations of both the
National and Local Government which have been approved or may have been
approved before the completion of the PROJECT, applicable to and binding upon
the parties hereto.

4. INTERPRETATION OF THIS AGREEMENT: In interpreting and construing the

provisions of this Agreement and in determining the intention of the parties
hereto, resort shall be made to the CONTRACT DOCUMENTS. In line
therewith, this Agreement and the CONTRACT DOCUMENTS shall be
interpreted and construed together so as to give harmonious effect to their
respective provisions: Provided that, in the event or irreconcilable conflict
between the provisions of this Agreement and those of the CONTRACT
DOCUMENTS, the provisions of this Agreement shall prevail.

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IN WITNESS WHEREOF, the parties hereto have set their hands on the date of and
place first above written:

(Owner) (Contractor)

By : ________________________ __________MR. LEO LEI__________

Joywide Development Corporation Vitoria Construction & Developer Inc.

SIGNED IN THE PRESENCE OF:

________________________ _______________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

___________________________

BEFORE ME, at the above-stated place, this ____th day of _________ 2017 personally
appeared ____________ with Residence Certificate No. _____________ issued at
_________City on ____th day of ________ 2017 in his capacity as President of
_______________ and Leo Lei with Residence Certificate No. __________ issued at
________ City on ___th day of _________ 2017 in his capacity as Vice President of
Vitoria Construction & Developer Inc. known to be the same persons who executed the
foregoing instrument and acknowledged to me that the same is their free act and deed, as
well as the act and deed of the companies they represent.

This instrument consists of thirteen (12) pages, including the page on which this
acknowledgment is written, duly signed by the signatories and their witnesses on each
page thereof.

WITNESS MY HAND AND SEAL on the date the place first stated.

NOTARY PUBLIC

PTR NO. : _____________

Place : _____________
Date : _____________
TIN : _____________

Document No. : ______________

Page No. : ______________
Book No. : ______________
Series of 2012

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