materials, equipment, labor and other obligations.

The CONTRACTOR shall thereupon issue either a

written acceptance or a written rejection, stating its reasons in the latter case.

2. No acceptance from the CONTRACTOR shall be effective and binding upon the PARTIES unless the
same is embodied in a formal written form. Conditional acceptance or one that is less than full does not
constitute effective acceptance within the contemplation of the Contract. Supervision or direction of
work, granting of an extension of time, or any other act on the part of the CVONTRACTOR which are in
the exercise of its general rights and prerogatives as project-owner, shall not be construed as
acceptance unless such is the clear and unequivocal intention of the CONTRACTOR. Upon full settlement
by the CONTRACTOR of the SUB CONTRACTOR’S final bill, the latter shall execute an affidavit of release
waiver and quitclaim, attesting that the latter is accepting the final payment in full settlement of all
claims for all work done, materials supplied, equipment utilized, labor used, and obligations incurred.

ARTICLES XVII – NON-WAIVER

1. No failure to enforce any provisions of the Contract or tolerance provisions shall be construed as
waiver of the CONTRACTOR’S rights under the Contract. No inspection made by the CONTRACTOR or of
any of its employees or representative or any action thereby ordered by the CONTRACTOR to be taken
on the basis of such inspection, or any order by the CONTRACTOR for the payment of money, or any
extension of the Contract time granted by the CONTRACTOR, or any seizure/confiscation made by the
CONTRACTOR or its employees or representatives, shall be construed as a waiver by the CONTRACTOR
of any of the provisions of this CONTRACT or any right of action available to the CONTRACTOR under the
Contract or applicable laws, rules and regulations, for any breach of this CONTRACT or such laws, rules
and regulations.

2. The right of action accruing to the CONTRACTOR herein mentioned shall be in addition to other
remedies available to the CONTRACTOR under existing laws for breach of this CONTRACT.

ARTICLE XVIII – LITIGATION

1. Any dispute arising out of or in connection with the Contract shall be referred to and resolved by the
Construction Industry and Arbitration Commission (CIAC). The PARTIES hereby agree that the place of
arbitration shall be the CIAC office in Makati City. This is without prejudice to the right of either of the
PARTIES to have recourse to remedial measures allowed under applicable laws, rules and regulations.

2. In the event of court litigation involving this Contract, venue shall be in the proper courts of
Pampanga to the exclusion of all other courts.

3. Disputes regarding the enforcement and interpretation of the provisions of the Contract shall be
resolved in accordance with applicable laws, rules and regulations of the Republic of the Philippines.

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ARTICLE XX – OWNER’S REPRESENTATIVES

1. This PROJECT shall be in the name of _____________________________.

2. The PARTIES Authorized Representatives for all purposes relating to the implementation of this
Contract shall be the following persons:

a. Representatives of the CONTRACTOR : _____________________________.

b. Representatives of the SUB CONTRACTOR : _________________________.

3.The above-authorized representative shall act singly, jointly or in collaboration with each other for
purposes of implementing the project.

4. Any change in the designation of the PARTIES respective representatives shall not be deemed
effective unless made in writing and duly relayed to the other party.

5. Any act done by either of the PARTIES though a person other than its duly designated or authorized
representative may not deemed binding upon the other party, unless ratified by the latter directly or
indirectly.

ARTICLE XX – EFFECTIVITY

1. This Contract shall become effective and binding upon the signing hereof-as well as the other
Contract Documents forming integral parts thereof, by the PARTIES respective duly authorized
representatives.

2. All other agreements, whether simultaneously or subsequently executed by the PARTIES in the course
of the implementation, whether by way of addendum, supplement, amendment, revision, or otherwise,
shall be deemed incorporated into the Contract, provided the same is duly signed by the parties through
their duly authorized representatives.

IN WITHNESS WHREOF, the PARTIES hereunto signed this contract on this____ day of _____________
at _____________________________.

BY: BY:

CET COSMO CONSTRUCTION INC. MB TAYAWA CONSTRUCTION

LIM EUN HEA MODESTO “MARK” B. TAYAWA

CEO CEO

____________________________ _____________________________
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 ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES

CITY OF ______________ S.S.

BEFORE ME, a Notary Public, and for _________________, Philippines, this ________ day of
____________ 2019, personally appeared the following:

NAME C.T.C Date/Place Issued

____________________ ____________________ _____________________

____________________ ____________________ ______________________

Both known to me and to me known be the same persons who executed the foregoing instrument and
they acknowledge to me that the same are their free and voluntary acts and deeds and those of the
companies they present.

AND FURTHER CERTIFY that this instrument consists of _____ pages duly signed by the parties amd their
witnesses on every page, and sealed with my notary seal.

WITNESS MY HAND AND SEAL on the date and the space first above written.

Doc. No. ____:

Book No. ____:

Page No. ____:

Series of 2019

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