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DEED OF PERPETUAL EASEMENT



KNOW ALL MEN BY THESE PRESENTS

This DEED OF PERPETUAL EASEMENT entered into by and between

NPC IRISVILLE HOMEOWNERS ASSOCIATION, INC. [NIHAI], the registered
association of residents of NPC Irisville Subdivision, Irisan, Baguio City, Philippines,
represented herein by its President, ENGR. JAIME ABAD, of legal age, married, Filipino, and
with address at Jade Street, NPC Irisville Subdivision, Philippines, hereinafter called the
GRANTOR; and,

STAY CONSTRUCTION, a sole proprietorship business enterprise represented by its
owner, TERIO A. YUBOS, of legal age, Filipino, and with address at MB032 Puguis, La
Trinidad, Benguet, Philippines, hereinafter referred to as the GRANTEE.

WITNESSETH

WHEREAS, the GRANTOR is the owner of road lots located at NPC Irisville
Subdivision, Irisan, Baguio City, Philippines, covered by Transfer Certificates of Title Numbers
______________, ___________, __________, and which are more particularly described as
follows

[Insert complete Technical Descriptions of the Road Lots]

WHEREAS, the GRANTEE is the owner and developer of parcels of landlocked lands
covered by Transfer Certificate/s of Title Number/s ________________________, and which are
presently being developed to form a full-fledged subdivision;

WHEREAS, the GRANTEE has expressed its desires to utilize the above described road
lots of the GRANTOR as an easement of right of way to and from the GRANTEEs landlocked
properties;

WHEREAS, the GRANTOR has manifested its willingness to enter into an easement
agreement for the use of its said properties as such, subject to the terms and conditions set forth
herein.

NOW THEREFORE, in view of the foregoing premises, the GRANTOR and the
GRANTEE agree as follows

1. The GRANTOR hereby grants and conveys, unto the GRANTEE, its heirs, assigns,
and successors-in-interest, a non-exclusive perpetual easement of right of way to utilize the
above-described road lots covered by Transfer Certificates of Title Numbers ______________,
___________, __________ for purpose of ingress and egress for vehicular and pedestrian traffic
over, through and across the road lots and the sidewalks, paths, lanes and walks, thereof, if
there are any, as well as for the installation and maintenance of utilities as may be required to
adequately serve the needs of the GRANTEE its heirs, assigns, and successors-in-interest.

2. The GRANTEE may, upon not less than three [3] months prior notice to, and
arrangements with the GRANTOR, construct, operate and maintain within the above-described
road lots, certain improvements that would inure to its benefit, such as, but not limited to,
electricity and telecommunications cables, pipelines, and other means of access to utility
services.

3. The GRANTEE agrees to assume the sole responsibility for the construction,
operation and maintenance of said improvements within the road lots. It agrees to answer for
any and all damages that the GRANTOR, its members, officers, employees, heirs, assigns, and
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successors-in-interest, may sustain as a result of the construction, operation, maintenance, or
presence of said improvements.

4. The GRANTEE agrees to defend, indemnify and hold harmless Grantor, its officers,
agents employees, from and against all claims, demands, judgments, costs and expenses
[including reasonable attorneys fees] which may arise by reason of injury to any person or
damage to any property attributable to the negligence of the GRANTEE, its officers, agents,
employees, heirs, assigns, and successors-in-interest in connection with GRANTEEs
construction, operation, use, and maintenance of said improvements.

5. The GRANTEE shall allow the GRANTOR, its members, heirs, assigns, successors-
in-interest, guests and invitees, to have fair and reasonable vehicular and pedestrian access
over, through and across, the GRANTEEs own roadways situated within the limits of the
GRANTEEs aforestated properties covered by Transfer Certificate/s of Title Number/s
________________________.

6. Annual government taxes over the above-described road lots subject of the
perpetual easement shall be shared equally by the GRANTOR and the GRANTEE. Such taxes
shall be paid not later than the first month of every year.

7. The GRANTOR and the GRANTEE hereby agree to share equally in the cost of
maintaining and repairing the above described road lots subject of the perpetual easement so as
to keep them in good and safe condition. In the event that the GRANTEE or the GRANTOR or
their respective officers, agents, employees, heirs, assigns, and successors-in-interest, guest, or
invitee solely causes damage to the road lots or any part thereof, other than by ordinary wear
and tear, the GRANTEE or the GRANTOR, as the case may be, shall be required to repair such
damage and bear the cost thereof exclusively. The terms maintenance and repair shall
include, but not be limited to, repairing the road surface, adding stone, clearing obstructions,
grading or scraping the road as necessary, cleaning or recutting ditches as necessary, trimming
brush along the roadside, unplugging or opening culverts or drainpipes, and performing any
and all other necessary work required to maintain the road in a condition that will allow for
reasonable and safe access for standard passenger vehicles.

8. In the event that the GRANTEE fails to contribute its share in the annual government
taxes or in the other costs and expenses required to be paid under this agreement, the
GRANTOR may, but shall not be obligated to, pay all of such taxes, costs and expenses and
recover from the GRANTEE its share thereon, together with interest at the highest rate allowed
by law. The GRANTOR shall also have the right to proceed in law or in equity, including the
right to specific performance, to enforce its rights under this deed.

9. The GRANTOR shall be entitled to injunctive and other equitable relief in the event
of, or to prevent, a breach of any provision of this Agreement by the GRANTEE. Similarly, the
GRANTEE shall be entitled to injunctive and other equitable relief in the event of, or to prevent,
a breach of any provision of this Agreement by the GRANTOR. Resort to such equitable relief,
however, shall not be construed to be a waiver of any other rights or remedies that the
GRANTOR or GRANTEE may have for damages or otherwise. The various rights and
remedies of the GRANTOR and the GRANTEE under this agreement or otherwise shall be
construed to be cumulative, and no one of the them shall be exclusive of any other or of any
right or remedy allowed by law.

10. The GRANTEE shall be responsible for, and it does hereby agree to indemnify the
GRANTOR against, any and all losses, damages, and expenses [including attorneys' fees]
which the GRANTOR may sustain or incur resulting from any act or failure to act [whether
negligent, dishonest, or otherwise] by the GRANTEE or by any of the GRANTEE's
employees or other representatives [whether or not acting within the scope of employment]
relating to this Agreement.

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11. This deed shall not be terminated by the merger or consolidation of either the
GRANTOR or GRANTEE into or with any other entity. All of the provisions of this agreement
shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, if
any, successors, and assigns. Waiver by one party hereto of breach of any provision of this deed
by the other shall not operate or be construed as a continuing waiver.

12. Philippine laws shall govern the validity of this deed, the construction of its terms
and the interpretation of the rights and duties of the parties hereto. Any controversies arising
out of the terms of this deed or its interpretation shall be settled in the courts or mediation
centers located in Baguio City, Philippines, and the judgment upon award may be entered in
any court having jurisdiction thereof.

13. The GRANTEE shall not assign any of its rights under this agreement, or delegate
the performance of any of its duties hereunder, without the prior written consent of the
GRANTOR.

14. No amendment, change or modification of this deed shall be valid unless in writing
signed by the parties hereto. This deed and any exhibit attached constitute the entire
understanding and agreement of the parties, and any and all prior agreements, understandings,
and representations are hereby terminated and canceled in their entirety and are of no further
force and effect. If any provision of this deed, or any portion thereof, is held to be invalid and
unenforceable, then the remainder of this agreement shall nevertheless remain in full force and
effect.

IN WITNESS WHEREOF, the parties have hereunto set their hands this ____ day of
October 2011, at Baguio City, Philippines.


NPC IRISVILLE HOMEOWNERS STAY CONSTRUCTION
ASSOCIATION, INC. [NIHAI] Grantee
Grantor

Represented by Represented by


ENGR. JAIME ABAD TERIO A. YUBOS
President Owner
ID __________________ ID __________________


_________________________________ _________________________________
Witness Witness

REPUBLIC OF THE PHILIPPINES | S. S.
DONE: IN THE CITY OF BAGUIO |

BEFORE ME this ____ day of ___________________ 2011, in the City of Baguio,
Philippines, personally appeared the above-named persons along with their respective
identification documents, representing themselves to me to be the same persons who executed
the foregoing instrument referring to a Deed of Perpetual Easement consisting of ____ pages
and they acknowledged to me that the same is their own free act and deed.

WITNESS MY HAND AND SEAL.

Doc. No.
Page No.
Book No.
Series of 2011