CONTRACT AGREEMENT

THIS CONTRACT OF AGREEMENT MADE AND EXECUTED this ___ day of

_________ year 2018 by and between, ________________hereinafter referred to as the OWNER
and ___________________hereinafter referred to as the CONTRACTOR.

WITNESSETH
That, for and in consideration of the unit prices quoted in the submitted Construction/Contract
Cost, the Parties hereto covenant and agree to with each other, as follows:

1. That, the OWNER awards to the CONTRACTOR the Construction of the following
projects with its corresponding contract amount. That, the OWNER agreed to award the
Contract of the Project in the total amount of TWO MILLION TWO HUNDRED
THOUSAND PESOS (PHP 2,200,000.00) which includes all materials and labor
required by the project.

LISTS OF PROJECTS AMOUNT

A. Construction of Three-Bedroom Residential Unit 1,730,000.00
Floor Area = 91.65sq.m
B. Construction of Garage and Concreting of Pavement 140,000.00
Floor Area = approximately 50sq.m.
C. Construction of Service Area 80,000.00
Floor Area = 25.5sq.m.
D. Construction of one unit Stall with Comfort Room, 200,000.00
Kitchen Sink and individual Septic Tank
Floor Area = 12sq.m.
E. Fence with railings and service gates 50,000.00
Length = 10.00m, Height = 1.80m

2. That, the CONTRACTOR shall furnish all Scope of Works included in the Specifications
attached to this contract. The OWNER shall be charged with additional construction cost
for additional scope of works.
Any Items of Work included in the Contract when already executed and shall be subject
for alteration shall also have its equivalent charge.

3. That, within Seven calendar days of signing this Contract, the OWNER will give the
CONTRACTOR a Notice to Proceed and shall make available to the CONTRACTOR the
Initial Fund for the PROJECT. The CONTRACTOR, shall within Seven days commence
work upon receipt of the Notice to Proceed.

4. That, the PROJECT covered by this contract shall be completed within 90 Calendar
Days.

Start of Construction : March 08, 2018

Date of Completion : not later than July 08, 2018

 5. That, the OWNER agrees to give to the CONTRACTOR the Contract Amount in the
following terms:

First Payment (40% of Total Contract Cost) ;

March 05, 2018 - 880,000.00 Php

Second Payment (30% of Total Contract Cost) :

April 19, 2018 - 660,000.00 Php

Third Payment (20% of Total contract Cost) :

May 31, 2018 - 440,000.00 Php

Final Payment upon Completion (10% of Total Contract Cost) :

July 12, 2018 - 220,000.00 Php

6. That, the CONTRACTOR shall strictly comply and observe all standard specifications of
materials and provide quality workmanship to the PROJECT.

IN WITNESS WHEREOF, the parties hereto have hereunto affixed their respective
signature, on the date herein before written at________________________________.

_________________________________ _______________________________

OWNER CONTRACTOR

Signed in the Presence of:

____________________________________ ____________________________________

WITNESS WITNESS