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Usufruct Agreement
Usufruct Agreement
Usufruct Agreement
MARIGUNDON
Logistics and Supply Officer / Witness
USUFRUCT AGREEMENT
-and-
WITNESSETH:
PMAJ MARLO WHEREAS, the LANDOWNER owns a parcel of land described as TCT No.
M. CAMANTIGUE
42570,
Chief of Police, copyPolice
Teresa of which is/ hereby attached as ANNEX “A” and made as integral
Station
Usufructuary
part of this Agreement;
Section 1. TERM. The term of the usufruct shall be for a period of five (5)
years but subject of extension upon agreement of two parties from the signing of
this Agreement unless the PARTIES pre - terminate the same on the following
grounds:
PSSg MARIE JOAN M. MARIGUNDON
Logistics and Supply Officer / Witness
Section 3. LAND OWNERSHIP. The ownership and title remain with and
continues to be in the name of the LANDOWNER. Upon expiration or pre -
termination of the Agreement on the grounds stated under sub - sections 1.1-1.2
of the Agreement, all permanent improvements existing shall inure to the benefit
of the LANDOWNER. It is hereby understood that permanent improvements shall
refer to those that cannot be detached or removed without damaging the
structure.
CHERYL P. ANN
Municipal Administrator
Section 4. / RIGHTS
Witness AND OBLIGATIONS OF THE USUFRUCTUARY
6.1 This Agreement shall be binding upon the parties hereto and their
successors-in-interest.
6.2 Any legal action or proceeding arising out or in connection with this
Contract, and all other instruments related therewith, shall be settled
through arbitration pursuant to the relevant provision of Republic Act
No. 9285 or the Alternative Dispute Resolution Act of 2004. If the
dispute is not settled before arbitration, the Parties hereto agree to
submit all suits or actions arising from this Contract and any other
matter directly or indirectly related to it, to the proper courts where
LANDOWNER’s principal office is situated at the time of filing of
action to the Exclusion of all other courts.
By: By:
______________________ ____________________________
CHERYL P. ANN PSSg MARIE JOAN M.
MARIGUNDON
Municipal Administrator Logistics and Supply Officer
PSSg MARIE JOAN M. MARIGUNDON
Logistics and Supply Officer / Witness
ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in the above jurisdiction, personally
appeared the following:
known to me to be the same persons who executed the foregoing instrument and
acknowledged to me that the same is their own free will and voluntary act and
deed. This instrument consists of four (4) pages including this page where the
acknowledgment is written, is signed by the parties and their instrumental
witnesses on each and every page hereof.