DEED OF DONATION WITH RETENTION OF RIGHT OF USUFRUCT

KNOW ALL MEN BY THESE PRESENTS: We, [*]and [*], both of legal age, Filipinos, and residents of [*], Philippines (hereinafter called the "DONORS"); - And [*], of legal age, Filipino, single, with address at [*]. (hereinafter called the "DONEE"); Witnesseth: WHEREAS, the DONORS are the registered owner of a certain piece of property with Condominium Certificate of Title No. [*], more particularly described as follows: [*] WHEREAS, the DONORS desire to donate the above-described property exclusively to the DONEE, and the latter is ready, willing and able to accept the same; NOW, THEREFORE, for and in consideration of the love and affection which the DONEE inspires in the DONORS, and as an act of gratitude, pure liberality and generosity on their part, the DONORS hereby voluntarily and freely GIVE, TRANSFER, and CONVEY by way of donation, unto the DONEE, the above-described property, together with all the improvements found thereon, free from all liens, encumbrances and charges of whatever kind, subject only to the RIGHT OF USUFRUCT by the DONORS the terms of which are hereinafter provided: 1. Such usufruct rights constitute the right to enjoy the above-mentioned property including its income or fruits which shall remain in force until the death of all the herein DONORS. 2. In using the usufruct, the DONORS shall take as much care of the Property as a person of ordinary prudence would take of his own property. 3. The DONORS shall not transfer the right of usufruct to any other persons or unrelated outsiders, except with the DONEES prior written consent. 4. Except as otherwise specified in this agreement, the rights and responsibilities of usufruct established herein shall be governed by the provisions of the Civil Code of the Philippines on Usufruct. That the DONORS affirm that this donation is not made with intent to defraud creditors, and that they have sufficient funds and property reserved for themselves and their obligations; That the DONEE hereby accepts and receives this donation made in her favor by the DONORS, and hereby manifests her gratefulness for the latter's generosity and liberality. IN WITNESS WHEREOF, all parties have hereunder subscribed their names this _____________ at _____________, Philippines.

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SIGNED IN THE PRESENCE OF:

_________________ REPUBLIC OF THE PHILIPPINES ) S.S. CITY OF _____________________)

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BEFORE ME, a Notary Public in and for the ___________________, this ___day of _________, 20___, personally appeared the following persons exhibiting to me their competent evidence of identities,

known to me and to me known to be the same persons who executed the foregoing instrument and they acknowledged that the same is their own free and voluntary act and deed. The foregoing instrument relates to a DEED OF DONATION WITH RETENTION OF RIGHT OF USUFRUCT of a parcel of land, consisting of three (3) pages, including this page on which this acknowledgment is written, and has been signed at the bottom and on the left hand margin of the first page thereof, by the parties and their instrumental witnesses, and sealed with my notarial seal. WITNESS MY HAND AND SEAL, on the date and place first above written. Notary Public Doc. No. ____ Page No. ___ Book No. ___ Series of 20__