CONTRACT AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Contract Agreement (hereinafter referred to as “Contract”) made and entered into
th
this 14 day of February 2024 by and between,

KRISTINE S. CO, Filipino and with office address at 28 th Floor The Upper Class Tower
Quezon Avenue corner Scout Reyes, Barangay Paligsahan, Quezon City (hereinafter referred to
as “Owner”)
And

DISKARTE MANILA AIR-CONDITIONING SYSTEM SERVICES represented by

JONATHAN DE LEON OLIVAR, Filipino and with office address at 126 Upo Street, Napico
Manggahan Pasig City (hereinafter referred to as “Contractor”).

WHEREAS the Contractor warrants being qualified to provide and perform the
Assembly and Installation of Kitchen Cabinets and Accessories.

NOW THEREFORE, in consideration of the mutual premises herein contained, the

Owner and Contractor agree to meet and satisfy all terms and general conditions of this contract
as follows:

I. DESCRIPTION OF THE WORK

A. The Contractor does hereby covenant and agree to furnish all labor, tools,
equipment, and to faithfully perform the work within the time period of
THIRTY (30) Calendar Days upon receipt of the downpayment in strict
accordance with the detailed description of work (hereinafter referred to as the
“Project”) and subject to, and in strict conformance with all of the conditions,
covenants, stipulations, terms and provision contained in this contract.

B. All of the representations, rights, and obligations of the Owner and Contractor
are embodied in the Contract and any prior oral or written agreement not
 included herein shall not be binding upon or inure to the benefit of any of the
parties.

C. This Contract includes and covers the following scope of work:

LOCATION: Grand Hyatt Bonifacio Global City, Taguig City

1. HANGING CABINETS – Includes assembly, mocked up and installation

of hanging cabinets, doors panels and accessories which shall include
testing and commissioning;

2. KITCHEN COUNTER CABINETS - Includes assembly, mocked up and

installation of hanging cabinets, doors panels and accessories which shall
include testing and commissioning;

3. ELECTRICAL AND PLUMBING – Installation of electrical and

plumbing devices with the proper and appropriate electrical voltage
requirements; and

4. GENERAL REQUIREMENTS – mobilization and demobilization,

transportation and supervision of the project.

II. COMPENSATION AND METHOD OF PAYMENT

A. Upon execution of the Contract, the Owner will obligate the necessary funds
to pay the downpayment amounting to 25% of the total cost of the Project.

B. The Owner agrees to pay the Contractor for the full and faithful performance
of the work pursuant to this Contract PROVIDED that the project was
faithfully performed and complied with each and every obligation imposed
upon the Contractor by the Contract and the terms of the proposal, as accepted
by the Owner.

C. Downpayment shall be 25% of the total project cost equivalent to PESOS:

ONE HUNDRED THOUSAND PESOS and 0/100 (Php100,000.00).

D. Second and Partial Billing shall be 60% of the total project equivalent to
PESOS: TWO HUNDRED FORTY THOUSAND and 0/100
(Php240,000.00). This amount shall be released upon Eighty-Five Percent
(85%) project completion.
 E. Third and Final Billing shall be the remaining 15% of the total project cost
equivalent to PESOS: SIXTY THOUSAND and 0/100 (Php60,000.00). This
amount shall be released upon One Hundred Percent (100%) project
completion.

III. GENERAL CONDITIONS

A. Proposal. This contract includes the Contractor’s proposal, has been properly
signed and dated by the Contractor, and the Owner by signing this Contract,
accepts the said Contractor’s proposal which becomes part of this Contract.

B. Manpower and tools/equipment shall be supplied by the Contractor. Materials

necessary for the completion of the project shall be supplied by the Owner.

C. Excess materials, scraps, forms, and other temporary structure being

delivered, installed, deployed and constructed on site by the Contractor are
properties of the Owner.

D. First day of the Project shall commenced immediately upon payment of the
required downpayment abovementioned.

E. Project Time Extension shall be granted to the Contractor for the accumulated
unworkable days due to force-majeure and other adversities beyond the
control of the Contractor.

F. Damages/Repairs. The Contractor must take every reasonable effort to protect

the possessions of the Owner that remain in the work area from loss or
damage. Any portion of the property damaged by the Contractor during the
course of the work must be repaired at no additional cost to the Owner. The
term “damages” shall include, but not limited to, any damage caused by the
contract operation or workers during the construction to adjoining properties
or to public spaces.

G. Supervision. The supervision of all work, including coordination of all

portions of the work under the Contract must be provided by the Contractor.
The Contractor shall ensure discipline and order among all employees of
Contractor. Workers shall be competent and capable of performing the work
assigned to them.

H. Change Orders. This Contract may be amended by change order at any time
provided that the change order makes specific reference to this Contract and is
executed in writing by both the Contractor and owner. The change order will
not invalidate this Contract, nor relieve or release the Contractor or the Owner
 from their respective obligations under this Contract. Any work performed by
the Contractor without written authorization of the Owner is at the
Contractor’s own risk.

I. Inspection and Final Payment. Periodic inspection shall be performed by the

Owner or his authorized representative. Upon completion of work pertaining
to this contract, the Contractor shall notify and arrange for an inspection of the
work by the Owner or his authorized representative. If all work is
satisfactorily completed, in the reasonable judgment of the Owner, the Owner
shall prepare a completion permit. Should an inspection reveal that the work is
not completed and/or is not satisfactory; the Owner shall notify the Contractor
of the deficiencies through a “Final Punch List” and will request that
Contractor indicated what action will be under taken to complete the work. No
final payment shall be authorized by the Owner until the work is completed,
and re-inspection by the Owner.

J. Standard of Work and Codes. The Contractor shall perform all work in a good
and workmanlike manner.

K. Clean-Up. On a daily basis, the Property must be kept free from the
accumulation of waste materials and rubbish. All tools, equipment and surplus
materials must be neatly stored and orderly.

L. Guarantees and Warranties. The Contractor warrants and guarantees to the

Owner that all Contractor supplied materials are of good quality, free from
faults and defects except for the Owner supplied materials. All work not
conforming to these standards shall be considered defective. The work
performed by the Contractor is to be guaranteed for a period of One (1) year
from the date of final acceptance of all the work required by the Contractor.

M. Damages. The Contractor shall be liable for damages equivalent to the total
payment made, plus the cost of suit, in the event that the products provided are
deemed "defective products." This includes, but is not limited to, improper
installations and unsatisfactory project completion.

N. Dispute Resolution. Should any dispute arise concerning (a) the intent or
meaning of the project described, (b) the quality of workmanship or materials,
(c) the value of any work, (d) payment for work, or (e) for other reasons
pertaining to the terms and conditions of the Contract, the parties agree that all
disputes and claims must be brought exclusively before the Court of Quezon
City, Metro Manila.
 O. Miscellaneous. This Contract becomes effective and binding when signed by
the Contractor and the Owner.

IV. TERMINATION BY OWNER FOR CAUSE

A. The Owner shall have the right to terminate this Contract by notice to the
Contractor in writing should the latter (a) fail to start or make satisfactory
progress on the work to be performed under this Contract, (b) failure to
comply with to written order of the owner which are consistent with terms of
the Contract, (d) perform a new unsatisfactorily such work as has been
rejected by the owner, (e) carry on the work in a manner contrary to this
contract, or (f) otherwise fail to perform its obligations under this Contract.

B. The mailing of such notice shall constitute as notice to the Contractor under
the terms of the Contract. Upon receiving said notice, the Contractor must quit
any work in progress or any parts specified in said notice. The Owner shall
therefore have the right to contract another Contractor, and the total cost for
the completion thereof shall be accounted to Contractor as a form damages,
provided that it is within the terms and conditions of this Contract.

V. NOTICES

Notices to the parties shall be in writing and directed as follows:

Owner: Kristine S. Co
Chief Compliance Officer PPC One Estate Corporation

Contractor: Jonathan De Leon Olivar

Diskarte Manila Technical and Construction Services

IN WITNESS WHEREOF, the parties have caused this Contract to be signed and duly
attested to by witnesses.

Kristine S. Co Jonathan De Leon Olivar

Owner Contractor

Signed in the Presence of:

________________________ ________________________
 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

QUEZON CITY, METRO MANILA) S.S.

BEFORE ME, this ____ day of ___________ 2024, personally appeared be

known to be the same person who executed the foregoing instruments consisting of ___ pages
whereon the acknowledgment is written and acknowledged to me that the same is their free will
and deed, exhibiting to me their Driver’s Licensed as follows:

Jonathan D. Olivar NO3-19-007165 04-29-2033

Kristine S. Co _____________ __________

WITNESS MY HAND AND NOTARIAL SEAL on the date of the place first above written.

Doc. No. ___;

Page No. ___;
Book No. ___;
Series of 2024.