USUFRUCT AGREEMENT

This USUFRUCT AGREEMENT, hereinafter referred to as the “Agreement”, is made and

executed by:

_____________________, spouses, resident of __________________________________,

hereinafter referred to as the BLDG. & LAND OWNER);

-and-

________________________________________, a corporation duly organized and existing

under the laws of the Republic of the Philippines with present address at
________________________________________represented by its President,
_________________________(hereinafter referred to as the USUFRUCTUARY);

WITNESSETH:

WHEREAS, the OWNER owns a parcel of land consisting of

SQUARE METERS ( sq. m.) which is a portion of TCT No.
registered with the Registry of Deeds for ,
containing a total area of SQUARE METERS ( sq.
m.), more or less situated at

WHEREAS, the USUFRUCTUARY is a corporation duly organized and existing under the
laws of the Republic of the Philippines, upon agreement with the landowner, is currently
occupying the property located at ________________________________;

WHEREAS, the OWNER is a private individual, by tolerance, is hereby bestowing the right
to use and enjoy the property, provided, that all necessary improvements for preservation
of the said property, including the payment of electricity and water shall be shouldered
by the usufructuary;

WHEREAS, the USUFRUCTUARY, shall bear the burden of preservation of 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 of the mutual
covenants hereinafter contained, the parties hereby agree as follows:
1. TERM. The term of the usufruct shall be for a period of ______ (____) years from
the signing of this Agreement unless the PARTIES pre - terminate the same on the
following grounds:

1.1. The USUFRUCTUARY buys the land from the OWNER;

1.2. The USUFRUCTUARY violates any of the conditions stated herein;
 2. PURPOSE OF THE USUFRUCT- the USUFRUCT is allowed full use or perpetual
right of use through gratuitous act as long as the property is to be solely and exclusively
used as the site for the usufructuary’s main purpose;

3. OWNERSHIP- while the usufruct and/or the beneficial use of the property is transferred
to _____________________________the ownership and title remains with and
continues to be in the name of the ________________.

4. OTHER TERMS AND CONDITIONS

4.1. The property shall be used exclusively by

______________________________________ site for its purpose, however,
when the primary purpose for its establishment cease to exist, the landowner can
use the property and any of its improvement introduced free of charge.

4.2. This Agreement shall be binding upon the parties hereto and their
successors-in- interest.

4.3. In case of breach of any terms of the Agreement, dispute and/ or litigation
arising from this agreement, the venue of actions shall be filed in the proper
courts.

IN WITNESS WHEREOF, the herein parties have set their hands this
day of at , Philippines.

__________________________
OWNER ___________ CONSTRUCTION SERVICES
CORPORATION
Gov’t issued ID No. _____________ Represented by:
Gov’t issued ID No._____________
____________________
President
Gov’t issued ID

___________________________
Director
Gov’t issued ID
 ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

City ) S.S.

BEFORE ME, a Notary Public for and in the above jurisdiction this day of
personally appeared:

Name Government Valid Place and Date of Expiration Date

ID Issue

Known to me to be the same persons who executed the foregoing instrument, consisting of three
(3) pages, including this page wherein this acknowledgement is written, signed by parties and
their instrumental witnesses and sealed with my notarial seal. This agreement refers to as the
USUFRUCT AGREEMENT and acknowledged to me that the same are their own free voluntary
acts and deeds as well as of the Corporation and the USUFRUCTUARY herein represented.

WITNESS MY HAND AND SEAL on the date, year and place first above written.

Doc. No. ;
Page No. ;
Book No. ;
Series of 20
.