CONTRACT AGREEMENT

THIS AGREEMENT, made this ___ day of ________________ 20____ between ANTONIO
ABAN, JR., with address at Mahusay St., Fiesta Communities, Mabalacat, Pampanga
hereinafter called the “CLIENT” and EL CONCAR, with main office address at Unit 101-A, Dizon
Arcade, Pandan, Angeles City hereinafter called the “CONTRACTOR”.

WHEREAS, the CLIENT is desirous that the CONTRACTOR execute DESIGN AND BUILD OF
BUNGALOW HOUSE EXTENSION, hereinafter called the “WORK” and the CLIENT has
accepted the Calculated Bid of the CONTRACTOR for the execution and completion of the
WORK at the calculated bid prices shown in the attached bid quote, or a total contract price of
ONE MILLION TWO HUNDRED THOUSAND AND 0/100 CENTAVOS (P 1,200,000.00)

WHEREAS, the WORK in this project as covered by this contract shall be completed within
Three (3) Months in accordance with the provision of the Bid Documents.

NOW THIS CONTRACT AGREEMENT WITNESSETH AS FOLLOW:

1. In this contract agreement, words and expressions shall have the same meaning as are
respectively assigned to them in the conditions of contract hereinafter referred to.

2. The following documents shall be attached, deemed to form, and be read and construed
as part of this contract agreement, to wit.

(a) General and Special Conditions of Contract;

(b) Drawings / Plans;
(c) Scope of works;
(d) Bid Data Sheet, if any;
(e) Addenda and/or Supplemental Bid Bulletins, if any;
(f) Notice of Award of Contract and the Bidder’s conforme thereto, if any;
(g) Other contract documents that may be required by existing laws and/or the CLIENT.

3. In consideration of the payment/s to be made by the CLIENT to the CONTRACTOR as

hereinafter mentioned, the CONTRACTOR hereby covenants with the CLIENT to execute
and complete the WORK and remedy any defects therein in conformity with the
provisions of this contract in all respects.

4. In consideration of the execution and completion of THE WORK and the remedying of
defects by the CONTRACTOR, the CLIENT hereby covenants to pay the CONTRACTOR
the contract price or such other sum as may become payable under the provisions of
this contract at the times and in the manner prescribed by this contract.

5. Progress Payment: The CONTRACTOR shall, at intervals of 30% work progress,

determine the value of WORK carried out. An initial down-payment of 30% of the total
contract shall be released by the CLIENT to the CONTRACTOR after signing the contract
papers and presentation of all documents. The next progress billings upon valuation of
completed works shall be released by the CLIENT to the CONTRACTOR at 60% and 90%
project completion, respectively. The remaining payment of 10% of the contract price
shall serve as the retention money and shall be released by the CLIENT to the
CONTRACTOR after the turnover date.
 6. The Construction Date: The WORK will commence on December ___, 2018 and will
conclude on or before March ___, 2019.

7. Venue of Action: In case of any litigation arising from this Contract, venue shall be at
the proper courts of Angeles City.

IN WITNESS WHEREOF, the parties thereto have caused this CONTRACT AGREEMENT
to be executed the day and year first before written.

Signed:

ANTONIO ABAN, JR. DARREN CARLOS H. DELA CRUZ

Owner / Client Principal Civil Engineer

JOSHUA R. SOLIMAN
Operations Manager

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES

City of__________________

BEFORE ME, a Notary Public for and in ____________this ___ day of _____________,
personally appeared the following with their Government ID’s to wit:

known to me and to me known to be the same persons who executed the foregoing Contract of
Service and acknowledge to me that the same is free and voluntary act.

WITNESS MY HAND AND NOTARIAL SEAL this ___ day of ________, 2018 at
__________.

Doc. No. ____

Page No. ____

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