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-and-
WITNESSETH that –
WHEREAS, the OWNER, by these presents offers for the use of the
USUFRUCTUARY the abovementioned real property to where the proposed
Ulangoan National High School will be erected;
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Deed of Grant of Usufructuary Rights between Banwaon Community and Department of Education
WHEREAS, the USUFRUCTUARY accepts the above-stated offer of
the OWNER;
1. TERM- The term of the usufruct shall be for a period of Twenty Five
(25) years, renewable at the discretion of the OWNER, the
USUFRUCTUARY is hereby given the right and privilege to exclusively
use the site where the proposed Ulangoan National High School will
be erected;
2. OWNERSHIP- while the usufruct and/or the beneficial use of the site
is transferred to USUFRUCTUARY, the ownership and title of site
remains with and continues to be in the name of the OWNER. Upon
expiration or non-renewal of the contract, improvements introduced on
the site shall accrue to the OWNER;
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Deed of Grant of Usufructuary Rights between Banwaon Community and Department of Education
New Civil Code of the Philippines, the applicable provisions of which
are incorporated herein and deemed part of the provisions of this
Deed;
5. The parties and its successors in interest shall at all times exercise
good faith in the performance of their obligations and the exercise of
their rights under this DEED and no termination hereof shall be availed
except in case of a serious and material breach, so that no party may
be unduly deprived of its rights under this contract.
IN WITNESS WHEREOF, the herein parties have set their hands this
______ day of ____________ 2017 in ________________________,
Agusan del Sur.
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Deed of Grant of Usufructuary Rights between Banwaon Community and Department of Education
ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in the Municipality of Prosperidad, Province
of Agusan del SUR, this ___________________________________ , 2017, personally appeared:
who has satisfactorily proven to me their identity through their identifying documents
written below their name and signature, that they are the same persons who executed and
voluntarily signed the foregoing Deed of Grant of Usufructuary Rights, duly signed by their
instrumental witnesses at the spaces herein provided which he/she/they acknowledged to
me as his/her free and voluntary act and deed.
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Deed of Grant of Usufructuary Rights between Banwaon Community and Department of Education