Building or Construction Contract

KNOW ALL MEN BY THESE PRESENTS :

This Agreement, made and entered into in the City of Davao, this 12th day
of June, 2009, by and between Roldan O. Roldan, of legal age, OWNER, and
Alex E. Labiano, of legal age and a resident of the same City, hereinafter called
the CONTRACTOR,

Witnesseth:

That for and in consideration of the sum of One Hundred Thousand

Pesos (P 100, 000.oo) which the OWNER agrees to pay unto the CONTRACTOR,
the said CONTRACTOR agrees and undertakes to construct and build for the
OWNER a house of stong materials, the plan and specifications of which are
hereto attached and made parts of this contract, marked Annex “A” and Annex
“B”, respectively.

The CONTRACTOR agrees to pay for all permits and licenses necessary for
this construction;

That the OWNER shall pay the sum of Five Hundred Thousand Pesos
Only (500, 000.oo) to the CONTRACTOR in Cash or in check in equal
installments as follows:

One Hundred thousand Pesos (P 100,000.oo): when the foundations, posts,

floor joist, roof framing, and all
bolts are in place, accordingto the plan
and specifications;

One Hundred thousand Pesos (P 100,000.oo): when the corrugated G.I.

Rooffing, window sills, window
heads, studdlings (interior and exterior),
and the septic tank are completed, according to
the plan and specifications;
 One Hundred thousand Pesos (P 100,000.oo): when all plumbing (with water
test), window grillings, doors,
ceiling and first coating of paint
have been duly done and constructed;

One Hundred thousand Pesos (P 100,000.oo): when the paintings and all the
details according to the plan
and specifications have been terminated;

One Hundred thousand Pesos (P 100,000.oo): when the final certificate is

issued and delivered to the
OWNER.

The CONTRACTOR agrees to finish the construction of the said house within
Sixty (60) working days, counted from the day the permit for the construction
has been issued by the corresponding authorities; and should the said
CONTRACTOR fail to finish the house within the said period, he (the
CONTRACTOR) shall indemnify the OWNER the sum of One Thousand Two
Hundred Pesos Only P1,250.oo for each day of delay, as liquidated damages.

Signed in Davao City this 12th day of June 2009.

_____________________ _____________________
(OWNER) (CONTRACTOR)

Signed in the presence of:

____________________

____________________
 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

C i t y o f D a v a o ) S. S.

BEFOR ME, this 12th day of June, 2009, in the City of Davao, Philippines,
personally appeared________, with Driver's License No. ______, issued on
_____ by the Land Transportation Office at _______, Known to me to be the
same person who executed the foregoing instrument, and acknowleged to me
that the same is his/her free and voluntary act and deed.

IN WITNESS WHEREOF, I have here unto set my hand and seal, on the
day___, year _____ and place above written.

DOC NO.256 NAME

PAGE NO.53 Commission No. 000-2009
BOOK NOI.46 Notary Public – City of Davao
SERIES OF 2009 Until December 31, 2010
BT Law Office
245-B Juan Dela Cruz Street, 8000 Davao City
PTR No.7300000 – 01-0509 Davao City
IBP Member No. 740000 -12-06-08- Davao City Chapter
Bar Roll No. 46000 - Book No. XIX – Page No. 000
MCLE Compliance No. III – 0000600- 08-19-08