Usufruct Agreement Pdf

H-MEDES VS. CA G.R No. 108472 October 8, 1999 Facts: Disagreement involves a question of ownership over a non-reregiste agreement USUFRUCT This ACCORD, made and included in these days of `20` a company, there is, according to Philippine law, the headquarters and headquarters of the office in _______im as “CORPORATION” and OLIVIA M. ONOFRE, a Filipino citizen , “Grantor,” and the owner of an apartment building, called REALTY, is under _____________Dist. Provided that the company assumes all of the obligations of a nie-brauche, as long as they are compatible with this agreement. NOW THEREFORE, for and taking into account the above premises, the parties agree as follows: 1. RIGHT TO UTILISER The funder grants the company the right, Lot, Blk No_ – Dist. and the structure that is incorporated into it. This right of use implies the right to make necessary improvements to accommodate offices for the exclusive use of the company. 2. PROPERTY OF THE IMPROVEMENTS After the expiry of this contract, all improvements on the property belong to the funder. 3. DURATION OF THE USUFRUCT The company`s right to use the property expires on December 31, 2014.

4. CORPORATION OBLIGATIONS The Company is committed to: a. Keep the shape and content of the property, except to the extent necessary to house its offices. This clause should not be construed as an impossible obligation. It goes without saying that this obligation will be met as long as at least one single floor is dedicated to the residential structure, with all the necessary amenities and with unfettered access to trespass and exit. B. Take all the extraordinary costs and exceptional repairs needed on the property and improvements made by the company. c. All taxes, royalties and duties on the existing property at the time of the performance of this contract and those that may be incurred during this period and after expiry, including transfer taxes and actual taxes, if applicable. 5. TOTAL CONSIDERATION NO further consideration is due, unless this can be agreed at a later date.

6. In the event of a breach of contract by one party, the other party has the right to terminate the contract. IN WITNESS HEREOF, the parties signed on this subject, their names at the place and date indicated in the first place, on this three-page instrument. Director __________________MU-OZ