Usufruct Agreement for Ash Crypts/Body Crypts

To:      All

Subject:  Variants of contracts for various products for sale

Clarification is being made with regards to various contracts and procedures for interment:

1. Plots -  Prepaid Purchase Agreement

2.  Pre Development Sale of Plots - Offer to Purchase

    for investment purposes only

3. Columbarium -  Usufruct  - Privilege to Use

Services:

1.  For PIS, Prepaid Cremation Service,   Prepaid Memorial Service we use

     Addendum

2   Every one is urged to sell memorial services using the Destiny Plans Pre Need Agreement

3.  For Bundling, prepaid services, we use Addendum to consolidate the contract

     (let us clarify can this take care of the bundling).????

NB. MC here for columbarium is computed as (to increase Net Amount for sharing)

                     TLP x 20%/5/TLP

                     Say  P10,000 x 20%   =  2,000/5  =  P400/10000 =  4%

                     Thereafter we collect every 5 years (feasible ba?)

 -x-x-x-x-x-x-x-x-x-x-x-x-x

Applicable to body and ash crypts

This agreement entered to by and between

_____________________________with address at existing by virtue of the laws of the Philippines herein represented by ___________________________hereinafter referred to as the Grantor 

                                  and

_____________________________of legal age, single/widowed/widower, seprated, married to _______________________________residing at ________________

hereinafter referred to as the GRANTEE

Beneficiary    Name  ___________________Age __  Address

entered into this agreement this ________________day of ______________

at _______________________________

Whereas, the Grantor being in mindful of the more modern and convenient way of interment has built facilities for the convenient inurment of body/ash remains , has built facilities for such procedure;

Whereas the Grantee desirous of obtaining the privilege of use of these same hereby requests the Grantor for such a privilege

For and in consideration of contribution of  _________________ to help defray the expenses in building the structures and facilities,  to be paid monthly  in the amount of ________________ for ___________________________months

The Grantor grants unto the Grantee the privilege of using of the ash/body crypts 

  marked as:

                 Cluster/Area ____________

                 Column Number ________

                 Level   ________________

                 Number _______________

                 Privilege to Use _________

For a period of 50 years commencing upon full payment of this space or full payment whichever comes first

Terms and condition

 1. Privilege to use. Only  owner, his spouse children and parents may use the 

    inurment/interment. Third party users, other than immediate members of the family shall 

   require an assignment fee of __P2,000_____)______________.

   Transfer to another party  of this privilege shall require a fee of _(P5,000_)________

 2.   Number of urns that can be accommodated:  There can only be a maximum of 4 urns of standard size that can be accommodated in a standard urn.  Larger urns may be used but the same shall diminish the  capacity of the said unit

3. Full payment of contribution shall be required prior to any inurment.

4.  Insurance during the payment period

    The grantee is insured by the Grantor during the payment period for life and personal accident

    1. For Life -  The grantee is insured under a credit group life insurance. Provided that the grantee does not have pre existing condition and between age of 19 and 65 at the time of the contract, amortization shall be deemed paid, and what ever payment has been made less penalties, shall be paid to the beneficiary

    2.  For accident - As another protection.Double indemnity. Should the grantee

         die before the completion of payment, and the same terms as life insurance

         amortization shall be deemed paid, and principal less interest shall be paid

          the beneficiary.  Accidents covered are vehicular, drowning, and falls

         Amortization are deemed paid also (varying % ) in case of disability arising from

         such accidents

 

6.  Arrears

    Amortization in arrears are charged additional 4% of the amortization per month compounded. If this under a 0% promo,, an additional 1% of the principal shall be charged

    Effect of arrears on insurance. Such is voided by arrears. 

6. Signage

.Signage in a form and manner prescribed shall be used.  To make for uniformity, the grantee allows the Grantee the choice of supplier for the signage.   Urns that can be used shall conform to the standards of the Grantor

6 Accessories.  No accessories as candle and flower holder shall be  allowed.

7. Depositing and taking out of cremains/remains   The grantee has a key  to open the crypts. Cremains may be taken out or deposited only upon registration of the authorized representative.  Nothing in this arrangement shall make the Grantor responsible for the loss of the cremains or unauthorized inurment

Loss of keys must be immediately reported to the management of the Grantor. The 

Grantor shall not be responsible for the loss or damages arising from such unreported loss of keys

8.  Memorial Care -  An amount equivalent to 4% of the amount donated shall be collected by the  Grantor from the Grantee after 5 years to defray the cost of security maintenance and cleanliness of the facilities.   The grantee shall  pay this without need of demand

9. Imposition of rules and policies for the inurment/interment facilities.

The Grantor  still being the owner of the real estate, may impose rules and policies to enhance the beauty and serenity of the facility. The Grantee and his/her visitor are duty bound to follow such rules upon their publication.

10. Amendment of the contract.  The grantor may impose amendments in this agreement which shall be effective and in force upon this  publication

11.  Cancellation of the privilege:

     This privilege shall be cancelled and portion of the contribution returned to Grantee

      due to any or all of the following infractions/violation

    1.  Any default in payment of amortization or of contribution to the maintenance fee for more than 90 days

         This is without prejudice to the removal of the cremains or remains subject of the arrears

    2.  Violation of rules imposed by the grantor, and or amendment of the contract

    3.   Payment of the Memorial care contribution as required

    4. Disorderly conduct, destruction of the property threat, intimidation of

        and physical  harm to fellow grantees.

11.  Change of address

     The grantee shall inform in writing the change of address;  should there be failure

     in this respect notification shall be sent to the address herein indicated which shall

     for purposes of notices shall constitute a valid notice

12. Death of original grantee

    Should the principal grantee die the beneficiary becomes the new owner.  Should

    the other heirs desire new administrator, or in charge, they may do so in a 

    prescribed legal document under the rules of courts

13. Right of first refusal

      The Grantor reserves the right to recover the privilege by way of returning the contribution to the grantee, before the same is transferred to a third party

14.  Resolution of conflict

       The conflict shall be settled first by arbitration but in extreme cases venue shall be the MTC of Angono Rizal, or RTC of Binangonan Rizal

Witness our hands this day of________________ at____________

Grantor                                                                      Grantee

By ______________________________    By  ____________________