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WHEREAS, the LANDOWNER, by tolerance, is hereby bestowing the right to use and

enjoy the property provided that all the necessary improvements for preservation of the
said property shall be shouldered by the usufructuary;

WHEREAS, the USUFRUCTUARY, shall bear the burden of preserving the


property, ensuring its usefulness for the future use of the landowner, maintaining
peaceful existence within the property and paying all necessary expenses for the
preservation and improvements of the said property.

NOW, THEREFORE, for and in consideration of the foregoing premises and the
mutual covenants, stipulations and agreements, the LANDOWNER and the
USUFRUCTUARY have agreed, as they do hereby agree, and contracted as follows:

1. The LANDOWNER gives the USUFRUCTUARY the exclusive right to use


the Subject as garage/parking lots for free and without any consideration. This
right shall be terminated only in the event that the LANDOWNER should need
the Subject Property for any purpose, and only upon giving of a notice in writing
to the USUFRUCTUARY.

2. The LANDOWNER shall remain as the owner of the Subject Property and
shall assume the payment of real property taxes.

3. The USUFRUCTUARY has the obligation to maintain the Subject Property


in a condition suitable for the use contemplated in this Agreement.
4. The Subject Property shall be for the exclusive use of the members of the
USUFRUCTUARY. It cannot be used by any other persons and for any other
purpose.