DEED OF USUFRUCT AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This USUFRUCT AGREEMENT is made and executed by and
between MAE CLAIRE C. FERNANDEZ , of legal age , married , Filipino
and a resident of Cebu City hereinafter referred to as the OWNER;
-and
The MUNICIPALITY OF INOPACAN, LEYTE , a municipal
corporation duly created and existing under the laws of the Republic of the
Philippines , represented by the Local Chief Executive - Hon. AZUCENA
P.MIRAMBEL M.D., F.P.O.G.S herein referred to as the USUFRUCTUARY.
WITNESSETH:
WHEREAS the USUFRUCTUARY aims to construct a WATER
RESERVOIR in order to address the problem on water at Tinago , Inopacan,
Leyte ;
WHEREAS, the OWNER has a real property situated at Brgy. Tinago,
Inopacan, Leyte particularly described as follows :
North South
East West
WHEREAS the OWNER recognizes and supports the noble task of the
USUFRUCTUARY in its effort in rehabilitating and expanding water supply
system ;
WHEREAS, the OWNER, by these presents agrees for the use of the
USUFRUCTUARY a THIRTY SIX (36 ) - square meter portion of the lot
mentioned above , a copy of the Sketch Plan is attached as Annex “A" its
contents are incorporated to form part hereof;

WHEREAS, the USUFRUCTUARY in appreciation and gratitude of

the generosity of the OWNER , in return supplies 50 - cubic meter of water
monthly;
 WHEREAS, pursuant to Resolution No. __________, dated
________________ of the Sangguniang Bayan , The Local Chief Executive -
Mayor Hon. AZUCENA P. MIRAMBEL , F.P.O.G.S , has been authorized to
sign, execute and deliver this USUFRUCT AGREEMENT for and in behalf
of the Municipality of Inopacan, Leyte ;
NOW THEREFORE, for and in consideration of the foregoing
premises , and by mutual agreement and stipulation , hereinafter set forth
the OWNER and the USUFRUCTUARY have agreed on the following terms
and conditions, to wit :
COMMENCEMENT – The period of the usufruct shall commence
upon the execution and signing of this Contract :
TERM - The usufruct shall be for a period of twenty (20) years and
may be extended after the lapse of the original period for such time and
conditions as maybe agreed upon by the parties. The Parties further agree
that the usufruct shall continue to exist even after the death of the
OWNER ,but before the expiration of the period of the contract herein
indicated. Heirs, assigns and/or successors -in – interest of the OWNER
shall recognize and comply with the obligation of the OWNER as herein
provided.

IN WITNESS WHEREOF, the herein parties have set their hands this __ day
of_______ 2021 at _____________________, Philippines.

AZUCENA P. MIRAMBEL
CITY GOVERNMENT OF GENERAL SANTOS GENERAL SANTOS CITY

Owner
Represented by:
RONNEL C. RIVERA

City Mayor
MULTI PURPOSE COOPERATIVE
Usufructuary
Represented by:
NELSON P. SUNIO
Chairman, GSCGEMPC
SIGNED IN THE PRESENCE OF:
_____ _ __ .and _________ _
2

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
PROVINCE OF LEYTE )
MUNICIPALITY OF
x- - - - - - - - - - - - - - - - - - - - - - - - x

BEFORE ME, this __ ____________________________at

___________________________________________,personally appeared the following
persons, to wit :
Name Competent Evidence of Identity

MAE CLAIRE C. FERNANDEZ

AZUCENA P. MIRAMBEL

Known to me to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their free and voluntary act and deed, this contract
consisting of _____( ) pages, including the page on which this Acknowledgement is
written, signed by the Parties and their instrumental witnesses.

WITNESS MY HAND AND SEAL at the place and on the date first above-
written.

Doc. No.
Page No. __
Book No.
Series of 2021.