Professional Documents
Culture Documents
Usufruct
Usufruct
-and-
WITNESSETH:
1. TERM. The term of the usufruct shall be for a period of 10 years but
subject of extention upon agreement of two parties from the signing of
this Agreement unless the PARTIES pre - terminate the same on the
following grounds:
4.3. The USUFRUCTUARY shall pay the real estate taxes due on
the property upon construction of their housing units/ buildings
as well as the taxes due on housing units/ building constructed;
4.10. The USUFRUCTUARY shall not use the property for any
unlawful or illegal act.
5. RIGHTS AND OBLIGATIONS OF THE LAND OWNER
6.1 This Agreement shall be binding upon the parties hereto and
their successors-in-interest.
LANDOWNER USUFRUCTUARY
__________________ ___________________
JOINT ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
CITY OF ILOILO )SS.
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