ADJUDICATION TO LAND WITH DEED OF USUFRUCT

KNOW ALL MEN BY THESE PRESENTS:

We, siblings ALEXANDER I. ZONIO, ARTURO I. ZONIO and ADELAIDA I

ZONIO, both of legal age, Filipinos and with postal address at Poblacion, Libacao,
Aklan, who are herein after-called as NAKED OWNERS, after adjudicating to
ourselves, in accordance with the Rule 74 of the Rules of Court, all the property
left by our deceased father ENRICO Z. ZONIO, who died intestate without any
known debt but has left some property, among which is a certain parcel of land,
containing a total area of 2.1969 hectares, located in Calacabian, Libacao, Aklan,
designated as No. 562 declared in the name of our deceased father, ENRICO Z.
ZONIO under ARP No. 05-006-000377, do hereby enter into this DEED OF
USUFRUCT with MUNICIPALITY OF LIBACAO, hereinafter-called as
USUFRUCTUARY, to be represented by its incumbent Municipal Mayor CHARITO I.
NAVAROSA, also a Filipino citizen, of legal age, married and a resident of
Poblacion, Libacao, Aklan, in the following manner:

That for and in consideration of herein NAKED OWNERS support to the

noble objective of the USUFRUCTUARY for the development of the community of
the municipality of Libacao, Aklan through the construction of barangay/access
road with bridges traversing barangay Calacabian to barangay Magugba, both
situated in Libacao, Aklan, the NAKED OWNERS do hereby jointly, willingly and
voluntarily permit and allow the USUFRUCTUARY to utilize a considerable portion
of their above-mentioned parcels of land to be used as access road, measuring
10 meters in width, or covering a total area of _1,324_ square meters, as may
be determined by Geodetic Engineer after survey. That this stipulation, however,
is subject to the condition that should said portion of land be no longer used or
has been abandoned by the USUFRUCTUARY for such intended purpose, the
same shall automatically revert back to the full legal possession and ownership of
NAKED OWNERS. Photocopies of herein-mentioned Tax Declarations are hereto
attached for perusal and reference;

That the NAKED OWNERS hereby affirm that this deed is not made with
intent to deceive creditors, if there is any, and that they have reserved for
themselves and their family sufficient funds and property to maintain a livelihood
in consonance with their economic standing in their locality;

That the USUFRUCATUARY hereby expressly manifests its thanks and

gratitude for the liberality of the NAKED OWNERS.

That the subject property has not been registered under the Spanish Law
nor under Act 496, as amended, it is hereby agreed that this instrument be
registered in accordance with law.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures

this _______ day of __________ at Kalibo, Aklan, Philippines.

Donors:

ALEXANDER I. ZONIO ARTURO I. ZONIO

NAKED OWNER NAKED OWNER
I.D. No.________ I.D. No.__________
Issued on ________ Issued on ________
At _______________ At _______________

ADELAIDA I ZONIO
NAKED OWNER
I.D. No. _____
Issued on______
At___________
 -2-

With my acceptance:

MAYOR CHARITO I. NAVAROSA

(For USUFRUCTUARY: MUNICIPALITY OF LIBACAO, AKLAN)
I.D. No. ____________
Issued on ______________
At Libacao, Aklan, Philippines

Signed in the presence of:

1.________________________ 2.______________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

PROVINCE OF AKLAN )
MUNICIPALITY OF KALIBO) S.S

BEFORE ME, a Notary Public, this __ day of ____________, at Kalibo,

Aklan personally appeared above-named persons with their respective
identifications, are personally known and fully identified to me to be as the same
persons who executed the foregoing instrument, consisting of two (2) pages
including this page and that they acknowledged to me that the same is their free
act and deed.

WITNESS my hand and seal.

________________
Doc. No._____; Notary Public
Page No. ___; My commission expires until
Book No. ____; December 31, 20__
Series of 2017.