WITNESSETH:

WHEREAS, (state the rationale for the project and the background of the project)

WHEREAS, on <<date>>, the LGU obtained the approval of the_______for the financing and construction of the PUBLIC MARKET under a Build-Transfer-Operate Agreement in line with RA 7718 (the BOT Law) and its IRR;

(Note: for the list of approving entity, please refer to Section 2.7.b of the IRR of the BOT Law)

WHEREAS, the PROPONENT has been selected by the LGU to undertake the financing and construction of the PUBLIC MARKET on the terms and conditions set forth in this Agreement as a result of a competitive public bidding process conducted by the LGU under the applicable provisions of the BOT Law;

NOW, THEREFORE, for and in consideration of the above premises and the mutual obligations, commitments and undertakings assumed and accepted hereunder, the PARTIES agree as follows: