CONTRACT OF USUFRUCT

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Usufruct is executed this _________________ in

Digos City, Davao del Sur, by and between:

___________________________________, of legal
age, Filipino, single and a resident of Purok Kalubihan,
Brgy. Cogon, Digos City, Davao del Sur, hereinafter
called the “OWNER”;

-and-

___________________________________, of legal
age, German, single and a resident of Purok Kalubihan,
Brgy. Cogon, Digos City, Davao del Sur, hereinafter
called the “USUFRUCTUARY”.

WITNESSETH:

WHEREAS, the OWNER holds the title in fee simple to a certain

parcel of land consisting of SIX HUNDRED (600) SQUARE METERS,
together with all the improvements thereon, situated at Purok Kalubihan,
Brgy. Cogon, Digos City, Davao del Sur. This property is covered by
Transfer Certificate of Title (TCT) No. T-71044, and which is more
particularly described as follows:

“A parcel of land (Lot 10815-E-2, Psd-11-111057, being a

portion of Lot 10815-E, Psd-11-026677), situated in the
Barangay of Cogon; City of Digos; Province of Davao del Sur;
Island of Mindanao. On the N., along line 5-1 by lot 10815-D,
Psd-11026677; on the E., S., & W., along lines 1-2-3-4-5 by lot
10815-E-1 of the subd. plan. Beginning at a point marked “1”
on plan being N. 67 deg. 29’W.,, 706.85 m. from BLLM. No.
07, Cad-275, Sta. Cruz Cadastre.

Thence . . . .

S. 03 deg. 34’E., 21.12 m. to point 2; S. 41 deg. 00’W.,

2.00 m. to point 3; S. 85 deg. 34’W., 24.85 m. to point 4; N. 04
deg. 26’W., 22.97 m. to point 5; N. 86 deg. 31E., 26.60m. to
point of Containing an area of SIX HUNDRED (600) SQUARE
METERS, more or less.”

WHEREAS, the USUFRUCTUARY funded the money to purchase

the aforementioned parcel of land and the improvements situated
therein;

WHEREAS, the OWNER expresses his heartfelt appreciation for

the USUFRUCTUARY’s generosity;
 WHEREFORE, for and in consideration of the love and affection
which the USUFRUCTUARY inspire the OWNER, and as an act of
gratitude, pure liberality and generosity on his part, the OWNER hereby
voluntarily and freely GIVE, TRANSFER, AND CONVEY, by way of a
usufruct unto the USUFRUCTUARY, the above-described property,
together with all the improvements found thereon, free from all liens,
encumbrances and charges of whatever kind, subject to the following
terms of which are hereinafter provided:

1. Such usufructuary rights constitute the right to enjoy the above-

mentioned property, including its income or fruits, which shall
remain in full force and effect until the death of the herein
USUFRUCTUARY;

2. In using the usufruct, the USUFRUCTUARY shall take as much

care of the property as a person of ordinary prudence would take of
his own property;

3. The USUFRUCTUARY shall not transfer the right of usufruct to

any other person or unrelated outsider, except with the OWNER’S
prior consent; and

4. Except as otherwise specified in this agreement, the rights and

responsibilities of usufruct established herein shall be governed by
the provisions of the New Civil Code of the Philippines on usufruct.

The OWNER affirms that this donation is not made with the intent
to defraud creditors, and that he has sufficient funds and property
reserved for himself and his obligations;

IN WITNESS WHEREOF, the parties have hereunto set their

hands this __________________ in Digos City, Davao del Sur, Philippines.

_______________________ _______________________
Owner Usufructuary

Signed in the presence of:

____________________________ ____________________________
Witness Witness

Republic of the Philippines )

Province of Davao del Sur ) S.S.
City of Digos )
x----------------x
 ACKNOWLEDGMENT

BEFORE ME this ________________ in the City of Digos, Province of

Davao del Sur, personally appeared:

NAME COMPETENT EVIDENCE OF IDENTITY

_______________________
_______________________

known to me to be the same persons who executed the foregoing

instrument and they acknowledged that the same are their free acts and
voluntary deed.

This instrument consisting of three (3) pages, including the page

on which this acknowledgement is written, has been signed by the
parties and their witnesses on each and every page thereof, and sealed
with my notarial seal.

WITNESS MY HAND AND SEAL on the date and place herein

above-written.

Doc. No. _____;

Page No. _____;
Book No._____;
Series of 2019.