CONTRACT OF USUFRUCT

KNOW ALL MEN BY THERE PRESENTS:

This Contract of Usufruct is made and entered into by and between:

THE LOCAL GOVERNMENT UNIT OF BRGY. SAN ISIDRO, LIANGA,

SURIGAO DEL SUR, represented by its Barangay Captain, Hon. JOEL CAMPOS,
hereinafter referred to as the “OWBER”;
And

SAN ISIDRO FARMERS COOPERATIVE, a cooperative duly organized and existing

under the law of the Republic of the Philippines, with office address at San Isidro, Lianga,
Surigao del Sur, represented by its chairman, LUDOVICO C. BUAQUEÑA, JR., hereinafter
referred to as the “USUFRUCTUARY” ;

-WITNESSETH, that:

WHEREAS, OWNER holds the rights and privileges over a parcel of land, which is the
proposed barangay site of Brgy. San Isidro, Lianga, Surigao del Sur, containing a total area of
8.8303 has ;

WHEREAS, the USUFRUCTUARY intends to use a portion of the said land, with an
area of Six Hundred (600) sq. meters, to be built with an Abaca warehouse ;

WHEREAS, taking such intention to well-taken, the OWNER grants the said request ;

THAT for and in consideration of a desire to help its constituents on their livelihood
program, which the USUFRUCTUARY inspires the OWNER, and as an act of liberality and
generosity, the OWNER, through its barangay captain, hereby voluntarily and freely transfer
and conveys, by way of Usufruct to the USUFRUCTUARY, its successors and assigns, all
rights, title and interest, which said OWNER has over the said portion of 600 sq. meters (to be
apportioned later), together with all improvements found thereon, free from all liens and
encumbrances whatsoever.

THAT the USUFRUCTUARY hereby accepts this Contract of Usufruct and has taken
legal possession of the property and hereby expresses his appreciation and gratefulness of the
OWNER.

IN WITNESS WHEREOF, parties have hereunto set their hands this 27 th day of July
2016 at San Francisco, Agusan del Sur.

LGU – SAN ISIDRO, SAN ISIDRO FARMERS COOP.

 LIANGA, SURIGAO DEL SUR Usufructuary
Owner

Rep. by: Rep. by:

HON. JOEL CAMPOS LUDOVICO C. BUAQUEÑA, JR.

Brgy. Captain Chairman

Signed in the presence of:

_______________________ ____________________

REPUBLIC OF THE PHILIPPINES )

PROVINCE OF AGUSAN DEL SUR )SS
MUNICIPALITY OF SAN FRANCISCO )

ACKNOWLEDGMENT

BEFORE ME, this 27th day of July 2016 at San Francisco, Agusan del Sur, personally
appeared the above-named persons represented to me to be the same persons who executed the
foregoing instrument, and they acknowledged to me that the same are their free act and deed.

The parties and their witnesses at the left margin of each and every page have signed this
instrument consisting of 2 pages including this page hereof.

WITNESS MY HAND AND SEAL, the day, year and place above-mentioned.

LEON O. MONTILLA, JR.

Notary Public
Until December 31, 2017
Doc. No. IBP Lifetime No. 03110
Page No. PTR No. 6312173 on 1-8-16
Book No. 163 At Agusan del Sur
Series of 2016