Sample Deed of Usufruct Over a Real Property

D EED OF G RANT OF U SUFRUCTUARY R IGHTS KNOW ALL MEN BY THESE PRESENTS: This Deed of Grant of Usufructuary Rights entered into by and between: RYLAI CRESTFALL, of legal age, Filipino, single, and a resident of Bacolod City, Philippines, hereinafter referred to as the " GRANTOR"; - and KARDEL SHARPEYE, of legal age, Filipino, married, and a resident of Bacolod City, Philippines, (hereinafter referred to as the " GRANTEE"); WITNESSETH that – WHEREAS, the GRANTOR is the true and registered owner of a certain parcel of land situated at Barangay Villamonte, Bacolod City, Philippines, more particularly described as follows: Transfer Certificate of Title No. T-786563 A parcel of land (Lot 2442 of the Cadastral Survey of Bacolod), with the improvements thereon, situated in the City of Bacolod. Bounded on the N., and NE., by Lot No. 2441; on the SW., by Lot 2444; and on the W., by Lot No. 2444; and on the W., by Lot 2443. xxx containing an area of THREE THOUSAND FIVE HUNDRED AND EIGHTY-THREE (3,583) Square Meters, more or less. WHEREAS, the GRANTOR desires to give to the GRANTEE the right of usufruct over the said real property with the latter having the full right to the use and enjoyment of the fruits of the property in return for his assuming the obligation to preserve the property during the term of the usufruct. NOW THEREFORE, for and in consideration of the mutual agreements, covenants and stipulations hereinafter set forth, the GRANTOR hereby transfers and conveys unto

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the GRANTEE by way of USUFRUCT the aforedescribed parcel of land, subject to the following terms and conditions: 1. This grant of Usufruct shall be valid and binding during the lifetime of the GRANTEE and his descendants subject to the condition that they shall actually be in possession and residing in the premises covered by the grant; 2. The GRANTEE shall pay and be liable for all taxes, licenses, permits, duties, levies and such other charges as the Government or any of its instrumentalities and agencies may impose by reason of and arising out of this agreement and its implementation, including the real property taxes; 3. The GRANTEE may build and construct any building or improvement on the property subject of this grant provided that the GRANTEE hereby agrees and binds himself to insure at his expense the building, furnishing and equipment built or placed thereon against loss by fire, typhoon, flood or other similar natural events. In no case shall the GRANTOR be liable for any loss, damage or injury that may arise by reason of the use and enjoyment of the fruits of said property by the GRANTEE; 4. The GRANTEE shall defray all expenses for building and maintenance including cost of power, water, telephone and other utilities attached, connected or related to the operation of the improvement introduced on the property subject of this agreement; 5. The GRANTEE shall, at his own expense, make all necessary repairs to keep the premises and all its equipment and facilities from deteriorating in value or condition during the term of the grant; 6. The GRANTEE shall not lease any part or portion of the premises or the whole thereof, without the express consent of the GRANTOR; 7. The GRANTOR hereby covenants with the GRANTEE that the latter shall peaceably hold and enjoy the full use and possession of the premises during the period of the grant. The GRANTEE, her representatives, agents and

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employees shall have complete and unimpeded access to and from the premises at any time;

8. The GRANTOR may immediately recover possession the aforedescribed real property, including all permanent structures and improvements introduced thereon, without obligation to reimburse the herein GRANTEE, and terminate the usufruct should the GRANTEE violate any of the provisions of this Deed or fail to comply with its obligations as a usufructuary as provided in the New Civil Code of the Philippines, the applicable provisions of which are incorporated herein and deemed part of the provisions of this Deed. IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this ____________________ in Bacolod City, Philippines.

RYLAI CRESTFALL SHARPEYE Grantor

KARDEL Grantee

SIGNED IN THE PRESENCE OF:

____________________

____________________

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ACKNOWLEDGMENT Republic of the Philippines ) City of Bacolod ) S.S. x--------------------x BEFORE ME, a Notary Public for and in the City of Bacolod, personally appeared, RYLAI CRESTFALL with Community Tax Certificate No. _______________ issued on _______________ at _______________, and KARDEL SHARPEYE with Community Tax Certificate No. _______________ issued on _______________at _______________, both whom I have identified through competent evidence of identity and who represented to me that their respective signatures on the foregoing instrument were voluntarily affixed by them for the purposes stated in the instrument and who declared that they have executed the foregoing instrument as their free and voluntary act and deed. This Instrument consists of only four (4) pages, including this page in which this acknowledgment is written, duly signed by the parties and their instrumental witnesses on each and every page hereof. WITNESS MY HAND AND SEAL ____________________ in Bacolod City, Philippines.

this

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Doc. No.______; Page No. ______; Book No. ______; Series of 2016.