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Reservation Agreement

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MOUNTAIN HAVEN

RESERVATlON AGREEMENT

Application Date:

Reservation No.:

MOUNTAIN HAVEN DEVELOPMENT,

INC.

2ndFloor Lam Building, F. Torres Street, Davao City

Gentlemen:

I I We

, herebyoffer to buy from

MOUNTAINHAVENsituatedin Eden,Toril,DavaoCity,anopenlotwiththe followingspecifications:

PHASE

NO.

BLK

NO.

LOT

NO.

LOT

AREA

PRICE/SQM

(wI VAT)

TOTAL SELLING

PRICE (wI VAT)

-

-

under the following payment terms and conditions:

I am depositing the sum of

as reservation fee for the property. The said amount will

form part of the down payment. I understand and agree

that this

Reservation is non-transferable and the

reservation payment is non-refundable. In the event that the property is found to be unavailable for sale

to me due to technical reasons or due to a prior sale commitment or transaction with another party, the

same having been offered to me by mistake or inadvertence, I agree to a) have the property exchanged

with another of equal area or value, or b) cancel this Reservation Agreement, subject to the

reimbursement of all payments previously made by me by reason of this Reservation, without interest.

Any provision to the contrary notwithstanding, I hereby agree and acknowledge that MHDI has the right to

cancel and rescind this reservation for any cause whatsoever at any time before the issuance of my

Contract to Sell by giving written notice of its intention to do so and refunding to me all payments made by

virtue hereof, without interest. Further, MHDI shall have the right to automatically cancel my reservation

without further notice and forfeit as liquidated damages my reservation fee and all other payments I have

made in the event I fail to pay any obligations within the prescribed period as follows:

Down payment

-

calendar days after payment of Reservation Fee

Amortizations

-

90 days from the date prescribed on the Payment Guidelines duly signed

and acknowledged by me.

I hereby further understand that any representation or warranty made to me by the agent who handled

this sale, which is not embodied herein, shall not be binding unless reduced into writing and confirmed by

MHDI through its duly authorized representatives. This agreement states the entire understanding both

parties entered hereto and any stipulation, condition, representation or warranty, oral or otherwise not

contained in this Reservation Agreement or incorporated herein by reference shall not be binding. This

Agreement shall not be considered as changed, modified, altered or in any way amended by acts of

tolerance unless such changes, modifications or amendments are made in writing and signed by MHDI.

This reservation is subject to final approval by MHDI and is not valid unless the required Reservation Fee

is paid in full. The check should be made payable to MOUNTAIN HAVEN DEVELOPMENT, INC.

Payments will only be honored if actually received by the Treasurer of MHDI. Buyers are instructed to

demand for the property receipts whenever making payments.

I agree to pay in addition to the purchase price and interest (if applicable), the following: the documentary

stamps, transfer fee tax, science stamps, execution fees of this contract as well as those of the

corresponding Deed of Absolute Sale, the registration fees of the latter and all other expenses as agreed

in the Contract to Sell.

All late payments will be charged a five percent.(5%) penalty per month, which may be imposed without

prior notice to me.

In this act of offering to purchase a property at Mountain Haven, I likewise submit that I shall abide by the

Deed of Restrictions of the subdivision, the general provisions and conditions of which are as follows:

1.

Every Person who purchases a lot in Mountain Haven whether from the SELLER or Second Party

shall pay to the SELLER, in trust for Mountain Haven Homeowners Association, Inc. (MHHAI), a non-

refundable membership initiation fee equivalent to P 50.00/sqm multiplied by the area of the lot

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Reservation Agreement

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2

purchased, in accordance with the board resolution of the homeowners' association board as

attached. This is payable before the release of the Contract to Sell (for term buyers) or Deed of

Absolute Sale (forcash buyers).

2.

Building&ArchitectureDesign Parameters

a) Residential Lot Limitation. Only one private single-family residential house shall be

constructed on each lot or building site although accessory quarters for household help,

garage, garden structures (trellises & gazebos) and farm-related structures may be built,

assuming allrestrictions on easements and setbacks willnot be violated.

b) AllowableBuildinoArea. The total buildingfootprintor buildable area devoted to buildings

and structures withina lot shall not exceed lWENTY (20 %) PERCENT of the total lot area,

subject to the provisions on setbacks willnot be violated.

c) Setbacks and Easements. The followingsetbacks fromthe property line (measured fromthe

surface of the walll column or any projection of the house to the property line) should be

strictlyfollowed(except forthose lotswith pre-specified setback and easements):

.

.

Five (5) meters for any buildingstructure or other appurtenance adjacent or fronting

the street oranycommonarea.

.

Two (2) meters for any buildingstructure or other appurtenance adjacent to another

lot.

d) Buildino Heioht Restrictions.

No structure shall be more than NINE ( 9 ) meters in height

measured from any point of a structure

over the delivered grade line directly beneath it,

whether upslope or downslope. This shall apply to all structures, except for those lots with

pre-specified building height restrictions.

e) Buildina Materials and Architecture. All buildings must be of a type of architecture that is in

harmony with the surrounding landscape, amenities and homes in the vicinity as intended by

the Developer. In no case and under no circumstances shall the resulting building cause the

depreciation of property values

and the general aesthetic

appeal of the area. The plans and

specifications of the

building and any other structure or any subsequent

additions thereto

constructed within the property must comply with all the existing laws, ordinances and/or

regulations governing the construction of residences and must be subject to written approval

by MHHAI prior to submission to the government agencies for building permit application.

Each owner is required to provide their own lightning arrestor and water tank. The roof shall

be designed in such a way that it collects water for non-drinking

use.

Water tanks shall be

located and constructed in such a way that it remains inconspicuous from the road and it

blends with the surrounding architectural theme. There shall be no guarantee on the

regularity

or potability

of the water supply.

t)

Fillino and Cuttino of Lots.

The original construction line or the original grade of the lot

delivered to the owner is intended, as much as possible, to be the final grade or slope of the

lot. As such, materially altering the grade and condition of the lot is prohibited; except for

conditions that must first be approved by MHDIIMHHAI in writing.

g) Fences. Fences of natural material are encouraged. Solid masonry walls fronting the street

and common areas shall have a maximum height of One

(1.0)

meter, and Two (2) meters for

fences not fronting the street. This shall be measured from the natural ground level, and

provided with enough weep holes to allow the unimpeded flow of run-off water.

h) Seetic Tank Provision. Every building constructed shall be provided with a 3-chamber septic

tank per government specifications to be kept at all times in sanitary condition.

3.

Construction / Renovation Guidelines.

Construction of any structure on the lots may commence

only after the owner has paid fifty percent (50 %) of the total contract

price

of the lot and when house

plans have been approved by the developer and/or MHHA.

a) Construction Fee. A non-refundable Construction Fee of Two Thousand Five Hundred

Pesos (P2,500.00) will be charged per owner when he decides to construct his house. Said

fee shall cover the cost of reviewing the architectural plans by the Developer-Contractor.

b) Guarantee Deeosit. The Owner shall put up a refundable guarantee deposit of Fifty

Thousand Pesos (P50,OOO.00)that will be used in case damage on the subdivision

amenities was caused by the construction or any activity related thereto. Said deposit shall

be refunded back to the buyer upon full completion of the house.

I further state that the foregoing information I am herein providing are

trueandcorrect,as follows:

BUYER

SELLER

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Reservation Agreement

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3

NAME OF BUYER

(First Name)

(Middle Name)

(Last Name)

Citizenship

CivilStatus

ADDRESS (CheckMailing Address)

CJResidence

CJBusiness

SSS/Passport No/Drivers License No. :

Date / Place Issuedl Expiry :

TINNo.:-

Home Phone No:

E-Mail Add

Mobile:

Fax No:

Business Phone.

Birth

Date

Place of Birth :

Name of Spouse:

(First Name)

(Middle Name)

(Last Name)

TIN:

Mobile:

E-Mail Add:

BirthDate

Place of Birth :

SSS/Passport No/Drivers License No. :

Date/ PlaceIssued/ Expiry

:

Name of Father

(First Name)

(Middle Name)

(Last Name)

Birthdate

Birthplace

Name

of Mother

(Middle Name)

(Last Name)

(First Name)

Birthdate

Birthplace

FOR OFFICE USE ONLY

Block No. :

Lot No.

.

Lot

Area:

Term:

PriceI sqm

.

Selling Price:

Interest Rate:

Percent of D.P. .

D.P. Discount

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Reservation

Agreement

Page4

r:J ATTORNEY

-

IN

-

FACT

(First Name)

(Middle Name)

(Last Name)

Residence Address :

Business Address.

Citizenship:

SSSlPassport NolDriversLicense No.:

Date / Place Issued/ Expiry .

Civil Status

TINNo.

E-MailAddress:

Home Phone No:

Business Phone:

Mobile:

Fax No:

Place of Birth:

BirthDate

Occupation:

Employer/Business:

Nature of Business:

r:J FOR CORPORATION

Name of Corporation:

Business Address:

Name of Representative:

(First Name)

(Middle Name)

(Last Name)

Position:

SSSlPassport No/Drivers License No. :

Date I Place Issued/ Expiry .

Corporate TINNo.:

E-MailAdd:

TINof Representative:

Business Phone:

Nature of Business :

FaxNo:

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Reservation Agreement

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5

IMPORTANT:

Please provide us with the following documents to expedite processing of Contract to Sell :

FOR CORPORATE BUYERS :

.

(:J SEC Registration

.

0 Articles of Incorporation & By-Laws

.

0 Notarized Board Resolution to Purchase Property

FOR ATTORNEY-IN-FACT:

.

(:J NotarizedSpecial PowerofAttorney

FOR NATURAL BORN FILIPINO WHO HAVE ACQUIRED ALIEN CITIZENSHIP

.

0 Affidavitof Natural BornCitizen

.

(:J BirthCertificate

.

(:J Photocopy ofCurrent Passport

BUYER(Signature over printed name)

TIN

Approved by:

Agent:

Martin Y. Pineda

President

MOUNTAIN HAVEN DEVELOPMENT

INC.

(Signature over Printed Name)

SIGNED INTHE PRESENCE OF:

ACKNOWLEDGEMENT

REPUBLICOF THEPHILIPPINES}

CITY

OF

DAVAO}S.S.

BEFORE ME, a Notary Public, for and in the above jurisdiction, this

, personallyappeared the following:

day of

Name

SSS/PRC/Drivers Licensel Passport No.

DateExpiry

Mountain Haven Development, Inc. SSS No. 09-1538018-7

MartinY. Pineda

SSS No. 03-8173427-3

Known to me and to me known to be the same persons who executed the foregoing instrument consisting of five (5)

pages includingthis

page wherein the acknowledgement clause is written and acknowledged the same to be their

own and voluntary act and deed, as well as that ofthe corporation herein represented.

WITNESS

MY HAND

AND SEAL and at the place first above written.

Doc. No.

Page No.

Book No.

Series of

10/18/07