Building or Construction Contract KNOW ALL MEN BY THESE PRESENTS: This AGREEMENT, made and entered into in the City of Manila , this _____th day of _________, 19_____ , by and between _______________, of legal age, OWNER, and ______, also of legal age and resident of same _______________, hereinafter called the CONTRACTOR, Witnesseth: That for and in consideration of the sum of ____________________ 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 strong materials, the plan and specifications of which are hereto attached and made parts of this contract, marked Annex "A" and Annex "B", respectively. That the CONTRACTOR agrees to pay for all permits and licenses necessary for this construction; That the OWNER shall pay the sum of  ________________ to the CONTRACTOR in ____________________ equal installments as follows: P ________ when the foundations, posts, floor joists, roof framing, and all bolts are in place, according to the plan and specifications; P __________ when the corrugated G.I. roofing, window sills, window heads, studdings (interior and exterior), and the septic tank (pozo septico) are completed, according to the plan and specifications; P ________ when all plumbing (with water tests), window grillings, doors, media-aqua, ceiling of first and second floors, built-ins, bookcases, and first coat­ing of paint have been duly done and con­structed; P _______ when the painting and all the details according to the plan and specifications have been termi­nated; when the final certificate is issued and delivered to the OWNER. P_______ when the final certificate is issued and delievered to the OWNER.                      The CONTRACTOR agrees to finish the construction of said house within ________________ working days, counted from the day the permit for the construction has been issued by the corresponding authorities; and should said CONTRACTOR fail to finish the house within the said period, he (the CONTRACTOR) shall indemnify the OWNER the sum of P __________ for each day of delay, as liquidated damages. Signed in , this _________ day of _____________,  19 _____. ______________________________                      ________________________________              (Owner)                                                            (Contractor) Signed in the presence of: _________________________ _______________________                                                                ACKNOWLEDGMENT