Deed Of Usufruct 6v2i57

DEED OF USUFRUCT KNOW ALL MEN BY THESE PRESENTS: This DEED is made and executed by and between: _____________________ by between:

______________________________________, a government entity duly organized and existing under the laws of the Republic of the Philippines, represented by _______________________, _______________________________-, with office address at __________________________________, hereinafter referred to as the ______________________; And ____________________________ _________________________________, a government entity duly organized and existing under the laws of the Republic of the Philippines, represented by ___________________________________ ____________________, hereinafter referred to as the _____________________;

WITNESSETH: WHEREAS, the _____________ is the absolute owner of a parcel of land more particularly described as follows: DESCRIPTION OF LAND

WHEREAS, ________________, by these presents offers for the use of the ______________ the abovementioned parcel of land; WHEREAS, ______________ accepts the offer of the ________________ with gratitude and deep appreciation; NOW THEREFORE, as an act of liberality and generosity, the _________ hereby voluntarily and freely transfers and conveys, by way of USUFRUCT to the ________________, which the ____________ hereby accepts and has taken legal possession of the vehicles and hereby expresses his appreciation and gratefulness for the kindness and generosity of _____________, for and in consideration foregoing premises and of the mutual covenants hereinafter contained, the parties hereby agree to the following and conditions: 1. TERM – _________________ is allowed full use or perpetual right of use through gratuitous act as long as the property is to be solely and exclusively used as the site for the delivery of social services and public assistance;

2. OWNERSHIP – while the usufruct and/or the beneficial use of the vehicles is transferred to ___________________, the ownership and title remains with and continues to be in the name of the ________________-; 3. OTHER AND CONDITIONS: a. The property shall be used exclusively by _____________________ as a future site for the delivery of social services and public assistance, however, when the primary purpose for its establishment cease to exist, _______________ can use the property and any of its improvement introduced free of charge; b. _________________, upon proper coordination with the ______________, may introduce facilities and/or improvement that may be necessary for the proper and beneficial use of the property; IN WITNESS WHEREOF, the herein parties have set their hands this ______ day of _________________________ 2015 at ________________________________.

FIRST PARTY

SECOND PARTY

Represented by:

Represented by:

________________________

________________________

Signed in the Presence of: _____________________________

_____________________________

ACKNOWLEDGMENT Republic of the Philippines) Province of ___________ ) s.s. City of _______________ )

BEFORE ME, this ______ day of ___________________ 2015, at __________________________, personally appeared the following persons, to wit: NAME __________________

CTC NO.

PLACE ISSUED

DATE ISSUED

__________________ Known to me to be the same persons who executed the foregoing Deed and who acknowledged to me that the same is their free and voluntary act and deed of the entities that they represent in this instance. WITNESS MY HAND AND SEAL at the place and on the date first above-written. Doc. No. _______ Page No. _______ Book No. _______ Series of 2015.