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DEED OF USUFRUCT
KNOW ALL MEN BY THESE PRESENTS:
This DEED is made and executed by and between:
IMMANUEL BIBLE COLLEGE a _______________duly organized and
existing under the laws of the Philippines, with office address at
______________________________,
represented
herein
by
its
President
___________________________ who is duly authorized to act in this instance and
for this purpose, hereinafter referred to as the OWNER,
-ANDPGCAG INC, a _____________________ duly organized and existing under
the laws of the Phils., with office at ____________________________, represented
herein by its President, ________________________, who is duly authorized to act
in this instance and for this purpose, hereinafter referred to as the
USUFRUCTUARY.
-WITNESSETHWHEREAS, the OWNER, by these presents offers for the use of the
USUFRUCTUARY a parcel of land containing an aggregate area
of____________________________( ) square meters portion of Lot____ within the
site of______________________situated at _____________________.
WHEREAS, the USUFRUCTUARY accepts the above-stated offer of the
OWNER with gratitude and deep appreciation.
WHEREAS, pursuant to Resolution No.___dated_____ of the Board of
Directors of____________________________, the President of the IMMANUEL
BIBLE COLLEGE, has been authorized to sign, execute and deliver this DEED
of USUFRUCT for and in behalf of the___________________;
WHEREAS,
pursuant
to
Resolution
No._____
dated_____,
President________________has been authorized to enter into, sign and accept in
behalf of the PGCAG INC.
NOW THEREFORE, for and in consideration of the foregoing premises
and of the mutual covenants hereinafter contained, the parties agree to the
following terms and conditions:
1. RIGHT TO USE FOR FREE
The OWNER hereby grants unto the USUFRUCTUARY the perpetual right
to use the aforesaid lot. This right to use includes the right to construct
therein a building for the use of the ministry. The right to use is granted
only to the legitimate officers of the PGCAG INC.

2. OWNERSHIPThe ownership of the lot remains with and continues to be in the name of
the OWNER.
3. FACILITIES AND IMPROVEMENTS
The USUFRUCTUARY shall be responsible in providing for its facilities
and improvements such as, water, communication, electricity that shall
make it sustainable and viable.
4. MAINTENANCE OF CLEANLINESS AND PEACE AND ORDER The OWNER shall maintain the cleanliness and peace and order in the
common areas while the USUFRUCTUARY shall maintain the cleanliness
and peace and order in the area of USUFRUCT.
5. OTHER TERMS AND CONDITIONS
The site shall be used exclusively by the USUFRUCTUARY at the
exclusion of other denomination, organization and affiliations. A breach
of this provision terminates this DEED OF USUFRUCT.

IN WITNESS WHEREOF, the parties have hereunto set their hands this
____day of _____________, 2015.

IMMANUEL BIBLE COLLEGE


OWNER

PGCAG INC.
USUFRUCTUARY

Represented by:

Represented by:

___________________________

_______________________________

Signed in the presence of:


______________________________ and __________________________
REPUBLIC OF THE PHILIPPINES)
CITY OF CEBU
) S.S
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BEFORE ME, a NOTARY PUBLIC for the City of Cebu and Municipalities
this ____ day of ________________ 2015 in Cebu City, personally appeared the
following persons with their Valid Identification Cards to wit:
NAME
VALID I.D.
______________________________________________________________________________
______________________________________________________________________________

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Known to me to be the same persons who executed the forgoing DEED
OF USUFRUCT who acknowledged to me that the same is their free act and
deed of the entities that they represent in this instance.
This Deed, consisting of ___ (_) pages including the page on which this
Acknowledgment is written, signed by the Parties and their instrumental
witnesses, refers to a Deed of Usufruct of a parcel of land.
WITNESS MY HAND AND SEAL,
written.
Doc. No.
Page No.
Book No.
Series of

____
____
____
2015

on the date and in the place first above-