CERTIFICATE

FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\01N
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 30 November 2002
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date November 22, 2002, ref.No. 052/dpr-ak/XI/2002, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 2,300,000,000.00 97.57%
months by Employer - TOTAL before PPN 10%
b. Total approved VO 57,252,530.26 2.43%
Update contract value 2,357,252,530.26 100.00%
SUBSEQUENT CHARGE ORDER before PPN 10%

c. Last Month Progress 0.00 0.00%

NUMBER APPROVED d. This Month Progress 469,225,000.97 19.91%
V.O. (DATED) e. Achieved progress (d - c) 469,225,000.97 19.91%
002-C/BR/X/2002 20-Nov-02 190,819,864.28 133,567,334.02 f. Deduct advanced payment -91,565,709.52 (-e% x DP.)
g. Retention 5% -23,461,250.05 (-5% x e.)
Total recommended to be paid 354,198,041.40 (e+f+g)

By word:

TOTAL 190,819,864.28 133,567,334.02

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.
 CERTIFICATE
FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\01N
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 26 December 2002
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date November 22, 2002, ref.No. 052/dpr-ak/XI/2002, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 2,300,000,000.00 97.57%
months by Employer - TOTAL before PPN 10%
b. Total approved VO 57,252,530.26 2.43%
Update contract value 2,357,252,530.26 100.00%
SUBSEQUENT CHARGE ORDER before PPN 10%

c. Last Month Progress 469,225,000.97 19.91%

NUMBER APPROVED d. This Month Progress 1,252,918,987.51 53.15%
V.O. (DATED) e. Achieved progress (d - c) 783,693,986.54 33.25%
002-C/BR/X/2002 20-Nov-02 190,819,864.28 133,567,334.02 f. Deduct advanced payment -152,931,953.27 (-e% x DP.)
g. Retention 5% -39,184,699.33 (-5% x e.)
Total recommended to be paid 591,577,333.94 (e+f+g)

By word:

TOTAL 190,819,864.28 133,567,334.02

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.
 CERTIFICATE
FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\01N
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 26 December 2002
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date November 22, 2002, ref.No. 052/dpr-ak/XI/2002, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 2,300,000,000.00 97.56%
months by Employer - TOTAL b. Total approved VO 57,590,510.99 2.44%
c. Update contract value 2,357,590,510.99 100.00%
d. Phase III 3 Room 210,441,910.06
SUBSEQUENT CHARGE ORDER e. Total contract 19 Room 2,147,148,600.93 (c - d)

f. Down Payment 19 Room 397,272,727.27

NUMBER APPROVED g. Payment 1st 354,198,041.40
V.O. (DATED) h. Payment 2nd 591,577,333.94
002-C/BR/X/2002 20-Nov-02 190,819,864.28 133,567,334.02 i. Payment 1st VO 127,221,158.00
Summary VO 17-Feb-03 273,340,552.84 273,002,572.11 j. Total 1,470,269,260.62 (f + g + h + i)
k. Retention 5% -107,357,430.05 (-5% x e.)
Total recommended to be paid 569,521,910.26 (e-j+g)

By word:
Five hundred sixty nine million five hundred twenty one thousand
nine hundred ten rupiah point twenty six
TOTAL 464,160,417.12 406,569,906.13

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.
 CERTIFICATE
FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\01N - 3
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 10 April 2003
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date April 10, 2003, ref.No. 013/dpr-ak/IV/2003, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 2,300,000,000.00 95.65%
months by Employer - TOTAL 464,160,417.12 406,569,906.13 b. Total VO Ph. 1 & 2 57,590,510.99 2.40%
c. Total VO Ph. 3 47,020,144.91 1.96%
d. Update contract value 2,404,610,655.90 100.00%
SUBSEQUENT CHARGE ORDER e. Contract value Ph. 1 & 2 2,147,148,600.93
f. Contract value Ph. 3 257,462,054.97 (d - e)

NUMBER APPROVED g. Last Month Progress 0.00 0.00%

V.O. (DATED) h. This Month Progress 73,983,573.43 28.74%
30/BR/III/2003 5-Mar-03 257,462,055.03 210,441,910.12 i. Achieved progress (d - c) 73,983,573.43 28.74%
j. Deduct advanced payment -18,025,133.02 (-i% x DP.)
k. Retention 5% -3,699,178.67 (-5% x i.)
Total recommended to be paid 52,259,261.74 (i+j+k)

By word:
Fifty two million two hundred fifty nine thousand
two hundred sixty one rupiah point seventy four
TOTAL 257,462,055.03 210,441,910.12

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.
 CERTIFICATE
FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\02N - 3
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 23 May 2003
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date May 23, 2003, ref.No. 052/dpr-ak/V/2003, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 2,300,000,000.00 95.65%
months by Employer - TOTAL 464,160,417.12 406,569,906.13 b. Total VO Ph. 1 & 2 57,590,510.99 2.40%
c. Total VO Ph. 3 47,020,144.91 1.96%
d. Update contract value 2,404,610,655.90 100.00%
SUBSEQUENT CHARGE ORDER e. Contract value Ph. 1 & 2 2,147,148,600.93
f. Contract value Ph. 3 257,462,054.97 (d - e)

NUMBER APPROVED g. Last Month Progress 73,983,573.43 28.74%

V.O. (DATED) h. This Month Progress 236,320,683.30 91.79%
30/BR/III/2003 5-Mar-03 257,462,055.03 210,441,910.12 i. Achieved progress (d - c) 162,337,109.87 63.05%
j. Deduct advanced payment -39,551,320.16 (-i% x DP.)
k. Retention 5% -8,116,855.49 (-5% x i.)
Total recommended to be paid 114,668,934.22 (i+j+k)

By word:
One hundred fourteen million six hundred sixty eight thousand
nine hundred thirty four rupiah point twenty two
TOTAL 257,462,055.03 210,441,910.12

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.
 CERTIFICATE
FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\03N - 3
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 14 June 2003
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date June 14, 2003, ref.No. 029/dpr-ak/VI/2003, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 2,300,000,000.00 96.02%
months by Employer - TOTAL 464,160,417.12 406,569,906.13 b. Total VO Ph. 1 & 2 57,590,510.99 2.40%
c. Total VO Ph. 3 37,743,184.91 1.58%
d. Update contract value 2,395,333,695.90 100.00%
SUBSEQUENT CHARGE ORDER e. Contract value Ph. 1 & 2 2,147,148,600.93
f. Contract value Ph. 3 updat 248,185,094.97 (d - e)

NUMBER APPROVED g. Down Payment 3 Room 62,727,272.73

V.O. (DATED) h. Payment 1st 52,259,261.74
30/BR/III/2003 5-Mar-03 257,462,055.03 210,441,910.12 i. Payment 2nd 114,668,934.22
36/BR/IV/2003 1-May-03 9,548,040.00 18,825,000.00 j. Total 229,655,468.69 (g+h+i)
k. Retention 5% 12,409,254.75 (-5% x f.)
Total recommended to be paid 6,120,371.54 (f-j-k)

By word:
Six million one hundred twenty thousand three hundred
seventy two rupiah point fifty four
TOTAL 267,010,095.03 229,266,910.12

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.
 CERTIFICATE
FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\VO 01N - 3
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 26 December 2002
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date May 23, 2003, ref.No. 053/dpr-ak/V/2003, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 0.00 0.00%
months by Employer - TOTAL before PPN 10%
b. Total approved VO 50,596,533.40 100.00%
Update contract value 50,596,533.40 100.00%
SUBSEQUENT CHARGE ORDER before PPN 10%

c. Last Month Progress 0.00 0.00%

NUMBER APPROVED d. This Month Progress 36,657,275.61 72.45%
V.O. (DATED) e. Achieved progress (d - c) 36,657,275.61 72.45%
016/BR/XII/2003 5-Mar-03 2,392,855.00 1,486,996.60 f. Deduct advanced payment 0.00 (-e% x DP.)
027/BR/II/2003 5-Mar-03 899,000.00 4,200,000.00 g. Retention 5% -1,832,863.78 (-5% x e.)
032/BR/IV/2003 22-Mar-03 11,000,000.00 0.00 Total recommended to be paid 34,824,411.83 (e+f+g)
033/BRIV/2003 24-Mar-03 41,991,675.00 0.00

By word:
Thirty four million eight hundred twenty four thousand
four hundred eleven rupiah point eightty three
TOTAL 56,283,530.00 5,686,996.60

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.
 CERTIFICATE
FOR PAYMENT
design
PROJECT: BATHROOM RENOVATION CERTIFICATE NO.: AKK\VO 02N - 3
(Name, Address) ALAM KULKUL BOUTIQUE RESORT
Jl. Pantai Kuta, Legian - Bali DATE OF ISSUANCE: 14 June 2003
PROJECT NO.: 01
TO: ALAM KULKUL BOUTIQUE RESORT CONTRACTOR: BP. I MADE DAPIR
(Employer) JL. PANTAI KUTA, LEGIAN - BALI CONTRACT FOR: BATHROOM RENOVATION PROJECT

CONTRACT DATE: 12 September 2002

In accordance with this Contract and the attached Application for payment date June 14, 2003, ref.No. 030/dpr-ak/VI/2003, the Contractor is entitled
to payment in the amount stipulated below. The present status of the account for this Contract is as follows:
ADDITION RP. DEDUCTION RP.
Change order approved in previous a. Original Contract 0.00 0.00%
months by Employer - TOTAL before PPN 10%
b. Total approved VO 101,360,321.36 100.00%
Update contract value 101,360,321.36 100.00%
SUBSEQUENT CHARGE ORDER before PPN 10%

c. Last Month Progress 36,657,275.61 36.17%

NUMBER APPROVED d. This Month Progress 85,786,158.36 84.63%
V.O. (DATED) e. Achieved progress (d - c) 49,128,882.75 48.47%
016/BR/XII/2003 5-Mar-03 2,392,855.00 1,486,996.60 f. Deduct advanced payment 0.00 (-e% x DP.)
027/BR/II/2003 5-Mar-03 899,000.00 4,200,000.00 g. Retention 5% -2,456,444.14 (-5% x e.)
032/BR/IV/2003 22-Mar-03 11,000,000.00 0.00 Total recommended to be paid 46,672,438.61 (e+f+g)
033/BR/IV/2003 24-Mar-03 41,991,675.00 0.00
026/BR/I/2003 22-May-03 28,214,787.96 0.00
035/BR/IV/2003 1-May-03 8,049,000.00 0.00
037/BR/VI/2003 3-Jun-03 14,500,000.00 0.00
By word:
Forty six million six hundred seventy two thousand
four hundred thirty eight rupiah point sixty one
TOTAL 107,047,317.96 5,686,996.60

SUPERVISOR: CONTRACTOR: EMPLOYER:

Signed: Signed: Signed:

Name: Name: Name:

Date: Date: Date:

This certificate is negotiable. It is payable only to the payee herein and its issuance, payment and acceptance are without prejudice to any rights of the Employer or Contractor
under their contract. If application for payment or other application form containing satisfactory evidence of payment for work previously completed DOES NOT ACCOMPANY
THIS CERTIFICATE, the Contractor shall first provide the equivalent certification by completing and executing the following:

The undersigned that the works covered by this Certificate for Payment has been completed in accordance with the Contract Documents, that all amounts have been paid for
for which previous Certificate for Payment issued and payments received, and that the current payment shown herein is now due.