DEED OF DONATION
KNOW ALL MEN BY THESE PRESENTS:
This Deed of Donation made and executed by:
The GLOBE ASIATIQUE REALITY HOLDINGS CORPORATION, a corporation duly organized and existing under Philippine Law with business address at W-1408, 14th Floor, PSE Center, West Tower, Exchange Road, Ortigas Center, Pasig City, duly represented by its President, MR. Delfin S. LEE, hereinafter referred to as the DONOR;
The DEPARTMENT OF EDUCATION a government agency with office address at DepEd Complex, Meralco Avenue, Pasig City herein represented by its Secretary, HON. JESLI A. LAPUS, hereinafter referred as a DONEE;
Original Copies of the Transfer Certificate of Title and of the Master Plan are attached hereto and hereby turned over to the DONEE, receipt of which is hereby acknowledged and duly accepted.
All other personal properties as well as its technical descriptions are attached to Annex “A”, and forms part this Deed of Donation
Terms and Conditions of Donation;
- The DONEE hereby agrees to retain the name of the school building and to perpetually maintain its operation and provide funds therefore. Due to the recognized prohibition in naming a school after a living person, the DONEE hereby agrees that only the structural building shall be under the name of the DONA ASUNCION SY LEE.
- The DONEE is prohibited from transferring, conveying or assigning the school building or any of the donated movables through sale, donation, and expropriation or through any other deeds of conveyances.
- The DONEE shall not have the school building or any of the donated movables to be leased or used for purposes other than for the provision of quality education, under the public school system, to the students of Bacolor and of neighboring towns and provinces and shall ensure that the same together with its interiors, furnishings, playground and equipment shall remain fully functional, operational and available for their intended use.
- Any exterior architectural design shall not be altered, modified, defaced in any manner whatsoever, and any necessary repair due to ordinary wear and tear shall be made only for the purpose of restoring the structure to its original state, form and condition.
- The above subject parcel of land shall be used solely and exclusively for the construction of the Church building and no other structures may be constructed thereof any additional structure that the DONEE may intend to construct shall be subject to the consent and approval of Globe Asiatique Property Management Corporation.
- The above subject parcel of land shall not be alienated, sold, mortgaged, or it any manner encumbered by the DONEE. Any encumbrance, whether voluntary or through any legal order issued by any competent court, shall be treated as inferior to the intention of the DONOR for which this act has been made and duly declared and annotated in the Registry of Deeds for Angeles City , Province of Pampanga.
- Any act violative of the restriction imposed, or the conditions stated in paragraphs: 1 to 5 shall give rise to the right of the DONOR to rescind, at its option, this entire Deed of Donation and revert back the ownership of the above subject parcel of land together with all its improvement to the DONOR, or in case the DONOR’s corporate existence is terminated to Mr. Delfin Lee, or in the event of his demise, this rights passed on to his compulsory heirs.
- At option of DONOR, it has right to secure his donation by purchasing a property insurance over the subject improvement. As owner of the insurance policy, the DONOR has exclusive right to name its beneficiary.
The right of the beneficiary, however, is subject to the immediately preceding paragraph.
All of the foregoing are perpetual limitations and conditions imposed hereto by the DONOR, and no other issues may be raised by any other party to question the act made by the DONOR, or any may claim any exception to the restrictions and conditions imposed hereto.
IN WITNESS WHEREOF, the donor has need to subscribed himself this 19th day of January 2008 while DONEE duly acknowledged and accepted his Deed of Donation on even date.
GLOBE ASIATIQUE REALITY
MR. DELFIN S. LEE
DEPARTMNET OF EDUCATION
HON. SEC. JESLI
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