FIL-LAND REALTY, INC.
SALES POLICY 


ARTICLE V - QUOTA

A) FOR Area Sales Director:

1. An Area Sales Director shall be required to maintain a P3.0M
   monthly production quota. This amount, however, may be adjusted
   by the Company from time to time.  
2. He shall also maintain a manpower quota of five(5) Producing
   Branch Manager who in turn should have five(5) active producing
   agents each. For purposes of this paragraph, an active 
   producing agent is one who has sold at least one (1) lot or unit
   in the preceding month.

B) FOR Branch Managers:

1. A Branch Manager on his first month should have a production of 
   at least one (1) option sale, on the second month two (2) option
   sales and on the third and every month thereafter three (3) 
   option sales.
2. He should always maintain a staff of five (5) producing agents.
3. He should see to it that he maintains a maximum  back-out sales
   ratio of 10% of his option sales for each month.

C) PENALTIES:  

1. For Area Sales Directors - If an Area sales Director fails to  
   meet his quota for one (1) month, he shall receive a warning 
   note from the his VP-Sales office. If on the 4th month, he still
   fails to meet the quota, a second (2nd) warning note shall be  
   issued to him. If still on the 5th month, the Area Sale director
   fails to meet the quota, management shall be free to take 
   whatever  action It feels appropriate.

2. FOR Branch Managers - If for two(2) consecutive months the Branch
   Manager fails to meet the quota, he will be given a first (1st )
   warning. If still on the third (3rd) month he fails to meet the 
   quota, he will be issued a second (2nd) warning. If on the 
   fourth (4th) month he still fails to meet the quota, a final 
   warning shall be given. If on the fifth (5th ) month his 
   production still falls below quota, the Branch Manager shall be
   reclassified to the rank of Sales Executive. In which case, he 
   will be assigned to one of the Area's Branch Managers and his 
   agents will be distributed among the other Branch Mangers by his
   Area Sales director.

ARTICLE VI - INTRA-AREA RELATIONSHIP

If an agent wishes to transfer to another Branch Manager of the same
Area, a written approval of his Branch Manager and Area Sales Director
shall be required. Any verbal agreement for such transfer shall be 
invalid and will not be recognized by the Sales Division Office.  A
valid transfer should be properly recorded in the Sales office. 

Any agent who directly or indirectly violates the above rule and 
transfers  his sales to another Branch Manager within  the  same
Area shall be dismissed from the Company upon proper written 
recommendation of his immediate Branch Manager and of the Area Sales
Director. A dismissed Agent may appeal his case to the Arbitration
Committee.
A dismissed Agent or Branch Manager cannot be employed in any other
Area of the Company. 
Any Area Sales Director or Branch Manager who Violates this rule
shall be subject to disciplinary action ranging from suspension to 
termination. Relatives of dismissed Agents or Branch Managers within
the 3rd Civil degree whether by Consanguinity or affinity are 
likewise barred from later becoming agents and from selling the 
Company's project(s). The only exception to this rule is when such
relative is already connected with the Company prior to the agent's
dismissal.

Spouses and collateral relatives within the 3rd civil degree of any
Agent or Branch Manager who join as agents of the Company have to 
affiliate in the same Branch or Area where the spouses or relative
belongs.

If an Agent sells projects other than those carried by the Company,
said Agent shall be dismissed and all his pending commissions shall
be forfeited in favor of the Company by way of penalty. 
____________________________________________________________________

ARTICLE VII - INTER-AREA POLICY


No Agent or Branch Manager shall be allowed to transfer to another
Area without the express approval of the Area Sales Director in the
case of Branch Manager, or the Branch Manager in the case of Agents.
Any  approval of transfer shall first be communicated to the Sales 
Office before its effectivity. 
In case of irreconcilable and serious conflict (the nature of which
shall be determined at the discretion of Management), between a 
Branch Manager and an Area Sales Director, the transfer may be 
allowed by their VP-Sales over the objection of the Area Sales 
Director as he case may be. 

In case of marriage of an Agent or Branch Manager with  another 
member of the sales force, either spouse shall be allowed to join 
his or her spouse in the other Branch or Area where the latter 
belongs. The choice shall strictly be between the spouses.

In the event of promotion of a Branch Manager to Area Sales 
Director all agents of the Branch Manager may elect within five (5)
days from the latter's promotion either to transfer with their 
Branch Manager in the Area in which the latter may have been 
appointed as Area Sales Director or to stay with their present Area.
 
In case of "Return Agents" or Branch Managers who used to sell for
FIL-LAND REALTY, INC. said agents or Branch Managers may affiliate
with any Branch or Area of his choice provided he has not been  
selling any of the Company's project(s) for a period  of one (1) 
year reckoned from the last sale he made or if there be  none, from
date of his application or appointment as Agent or Branch Manager.
No Area Sales Director or Branch Manager can claim an agent as his 
unless he can show an application form duly signed and accomplished
 by the Agent and properly approved by the President.

___________________________________________________________________

ARTICLE VIII ­ POLICY ON SALE OF SUBDIVISION LOTS AND HOUSE & LOTS

Sale of all lots or units shall be on a first come first served 
basis. Only payment of a reservation or option money and approval
of the Reservation Application/Agreement shall effectively reserve
a lot or unit for a particular buyer.

No option or reservation money shall be accepted by the Company 
without an accomplished and signed Reservation Application/Agreement.
In the same token no Reservation Application/Agreement shall be 
approved without prior payment of reservation or option money.
 
If a buyer puts an option or reservation money on one or more lots
or units one Reservation Application /Agreement shall be prepared
for each lot or unit. A buyer must purchase all the lots or units 
on which he had put an option or reservation money otherwise the 
option or reservation money paid for the abandoned Lot/unit shall 
be forfeited. An option reservation money or partial down payments
shall be forfeited in case of non-payment of the installments on 
the downpayment or balance on the scheduled dates provided in the 
Reservation Application or Agreement. 

An  Agent  who closes a sale (payment  of  reservation money and 
signing of Reservation Application / Agreement can call the Sales
Office for temporary reservation of the lot or unit purchased. He 
has one (1) hour from the time he makes the call to bring the money
to the Sales Office for recording. If within the said period the 
Agent fails to report and deliver the payment to the Sales Office
said unit or lot shall be re-opened for sale no renewal of 
telephone reservations shall be entertained for one and the same lot
or unit by the same party involved. 

An option money or partial down payment paid for a particular lot 
in a subdivision or unit cannot be transferred or applied to another
lot or unit in another project (subdivision) unless with the written
approval of FIL-LAND REALTY, INC. 

The amount of the reservation or option money for a lot or unit or 
house & lot package in any of FIL-LAND REALTY, INC. Projects is 
determined by the Management and the same is announced thru an 
official memorandum from the Office of the President . 
            
A reservation or option shall effectively reserve the lot or unit
for a maximum period of 60 days from date of payment. The amounts 
and periods for reservations may change whenever Management deem it
proper to change them. Partial option money may be accepted on a 
case to case basis subject to the approval of the Management and/or
policy that  the Company may implement later on.

The maximum period for payment of the full down payment for all lots
or units shall be 60 days and in four (4) semi-monthly  split 
payments.

To illustrate; if the down payment is P 64,800 of  the project, the
down payment breakdown shall be as follows:

BREAKDOWN :

1. date of RA           :    P    5,000.00
2. within 15 days       :    P   14,950.00
3. within 30 days	:    P   14,950.00
4. within 45 days	:    P   14,950.00
5. within 60 days	:    P   14,950.00
                          ---------------------
			     P   64,800.00

     1. Option money to be paid upon date of reservation.
     2. (1/4) of the balance of the down payment shall be paid on 
        the 15 th day from the date of reservation.
     3. Another (1/4) of the balance of the downpayment shall be 
        paid on the 30 th day from date of reservation.
     4. Another (1/4) of the balance of the downpayment shall be
        paid on the 45 th day from date of reservation. 
     5. The last (1/4) installment of the balance of the downpayment
        shall be paid on the 60 th day from date of reservation.

The above rule and illustration sets the maximum period for payment
of downpayment. The period however may be shortened by the Agent 
depending on the arrangement made with the buyer.  The Agent is 
given discretion to shorten the period.