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USUFRUCT AGREEMENT
URS TANAY CAMPUS EXTENSION BUILDING
This Agreement is made and entered into this _______ day of ________________, 2017 by and
between:
The MUNICIPAL GOVERNMENT OF TANAY, a local government unit in the province of Rizal
duly created and existing under the laws of the Republic of the Philippines represented by its
Municipal Mayor, Hon. REX MANUEL C. TANJUATCO, hereinafter referred to as LGU,
- and -
The UNIVERSITY OF RIZAL SYSTEM, the only State University in the province of Rizal duly
created and existing by virtue of the Philippine laws, with principal office address at Tanay, Rizal
represented by its University President, Dr. MARITA R. CANAPI, hereinafter referred to as
URS,
WITNESSETH: That -
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Usufruct Agreement
11/03/17 Version URS TANAY EXTENSION BUILDING
e. Provide immovable fixtures and fittings (including but not limited to air conditioning unit(s)
for the faculty room, utilities and internet cabling);
f. Responsible for the maintenance of the immovable fixtures such as but not limited to air
conditioning unit(s);
g. Promptly pay when due all charges for water, electricity, and all other utilities furnished to
or used upon the premises starting from the date of occupancy for one (1) year from the
effectivity date of this Agreement
h. Undertake all of the security services, cleaning, daily-use maintenance of the fittings and
other property management work, and bear related expenses thereof;
i. Take charge of all the installation charges for the utilities, water and electric connections,
of the school building prior occupancy;
j. Have the right to inspect the premises at any reasonable hour of the day on a quarterly
basis;
k. Make all necessary capital repairs, replacements and improvements to the premises and
the school building; and
l. It shall bear any and all expenses, costs and liabilities in suits brought with regard to the
use of the usufruct building;
V. Period of Usufruct
Such usufruct rights shall remain enforceable within twenty-five (25) years from the date
of signing of this Agreement by the parties hereto.
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Usufruct Agreement
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This Agreement may be automatically extended upon written agreement of both parties in
public instrument.
In case of breach hereof by one party, the other party has the right to terminate the
contract. If the breach is committed by the URS, LGU has the right to terminate the MOA
and usufruct over the building and to consequently repossess the property or compel
withdrawal of URS from the building observing smooth transition in consideration of the
conduct of academic activities of URS.
a. By the expiration of the period for which it was constituted or by the fulfilment of any
resolutory condition;
b. By merger of the usufruct and ownership in the same person/institution;
c. By renunciation of URS usufruct right;
d. By the total loss of the building/property in usufruct;
e. By the termination of the right of the URS constituting the usufruct;
a. The building shall be appraised to determine its depreciated value or residual value for
purposes of transfer, sale or disposal by the LGU. A depreciation schedule for said building
shall be provided for and form as integral part of the MOA, exhibited thereof as Annex B
Building Depreciation Schedule.
c. In case the preferred mode of transfer of the building at the end of the usufruct agreement
is through sale, the depreciated value or residual value of the machinery/equipment may
be used as the basis for the sale in accordance with COA rules and regulations.
Any dispute that may arise relative to the execution of this Agreement shall be brought to
the Management Committees of both LGU and URS. Otherwise, the parties (LGU and
URS) shall resort to the alternative modes of dispute resolution pursuant to Republic Act
9825 (Alternative Dispute Resolution Law).
The Implementing Rules and Regulations (IRR) may be promulgated by both parties to
provide policies, rules, regulations and procedures to implement this Agreement, leading
to a more systematic and orderly administration and supervision of this Usufruct.
XI. Effectivity
IN WITNESS WHEREOF, the parties have hereunto set their hands this _____ day of
__________, 2017.
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Usufruct Agreement
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By: By:
_____________________________ _____________________________
Chairman, Committee on Education Vice Mayor, Municipality of Tanay
Municipality of Tanay
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ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in _________________, this _ day of _____________
2017.
Known to me and to me known to be the same persons who executed the foregoing instrument;
which instrument consist of four (4) pages including this page where the Acknowledgement is
contained and acknowledged to me that the same is their free and voluntary act and deed.
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