DEED OF GRANT OF USUFRUCTUARY RIGHTS

This Deed of Grant of Usufructuary Rights (this Deed) is entered into

this 7th day of September 2015, by and between:
___________________,Filipino, of legal age, single/married,
and a resident of ______________________________, (together
with his successors and assigns, the GRANTOR);
- and a laundry service company licensed and registered under
Philippine
laws,
with
legal
address
at
________________________________
(together with his
successors and assigns, the GRANTEE).

WHEREAS, the Grantor is the registered owner of a parcel of

land known as Lot No. _____________ covered by Original/Transfer
Certificate of Title No. ___________________ consisting of _______________
square meters located at _________________________, (the Property)
and more particularly described as follows;
(INSERT TECHNICAL DESCRIPTION)
WHEREAS, the Grantor desires to give the Grantee the right of
usufruct over the Property with the full right to the use and enjoyment
of the Property to the maximum extent provided by law 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 foregoing
premises, and subject to the terms and conditions stipulated herein,
the parties agree as follows:
1.
DURATION OF USUFRUCT.
The grant of usufructuary
rights shall be for a period of thirty (30) years, starting from the date of
execution of this Deed.
2.
OBLIGATIONS OF THE GRANTOR.
The grant of
usufructuary rights by the Grantor to the Grantee shall be absolute.
The Grantee may introduce into the Property any improvements,
facilities, or structures. The Grantor warrants and undertakes that the
Grantee shall peaceably hold and enjoy the full use and possession of
the Property for the duration of the usufruct.
3.
OBLIGATIONS OF THE GRANTEE.
The duties and
obligations of Grantee as usufructuary provided for in the relevant
provisions of the New Civil Code of the Philippines are deemed part of
the provisions of this Deed. Upon the termination of the usufruct, any
improvements introduced by the Grantee shall accrue to the Grantor.
4.
TAXES AND EXPENSES. All taxes on the Property during
the duration of the usufruct shall be borne by the Grantee.
1

5.
REPRESENTATIONS
GRANTOR.

AND

WARRANTIES

OF

THE

a.

This Deed constitutes the legal, valid and binding

obligation of the parties, enforceable in accordance with its
terms.

b.

The execution, delivery and performance of this Deed do

not and will not violate any provision of, or result in a
breach of or constitute a default under any law, ordinance,
resolution, regulation or judgment, or violate any
agreement binding upon the Grantor.

c.

There is no existing adverse claim/s of whatever nature

over the Property. To the best of the Grantors knowledge
and belief, after due and diligent inquiry, there are no
forthcoming adverse claim/s of whatever nature over the
Property.

6.
BINDING NATURE.
This Deed shall be binding between
the parties, their respective assigns and successors-in-interest.
7.
SPECIFIC PERFORMANCE. The parties agree that this
Deed shall be enforceable by specific performance.

IN WITNESS WHEREOF, we have hereunto set our hands this

____________ at __________________, Philippines.

_________________
Grantor
ID No.
:

_________________
Grantee
ID No.:

SIGNED IN THE PRESENCE OF:

______________________________________
______________________________________

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in the City of Cebu personally
appeared the Parties exhibiting to me their respective competent
evidence of identity, details of which are indicated below their
respective names, known to me to be the same persons who executed
the foregoing Deed of Usufructuary Righst and acknowledged to me
that the same is their free and voluntary act and deed.
This instrument consists of two (2) pages, including the page on
which this Acknowledgement is written, signed by the Parties and their
instrumental witnesses on each pages
WITNESS MY HAND AND SEAL this ____ day of ______________
2015.

Doc. No.
__________;
Page No.
__________;
Book No. __________;
Series of 2015.