Delfin Lee of Globe Asiatique, donates 85 Million worth to the Municipal Hall of Mabalacat

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 MUNICIPAL GOVERNMENT OF MABALACAT, PAMPANGA, a government entity with address at Municipal Building, Mabalacat, Pampanaga, herein represented by its Mayor, HON. MARINO P. MORALES, hereinafter referred to as the 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 personal properties which are likewise donated by DONOR to DONEE are contained in the attached list marked as Annex “A” and made an integral part of this Deed of Donation.

Terms and Conditions of Donation;

1. The DONEE hereby agrees to adopt the name MR. DELFIN S. LEE BUILDING of the municipal town hall as DONEE further commits to perpetually maintain its operations and provide funds therefore. 


2. 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.


3. The DONEE shall not have the municipal town hall building or any of the donated movables to be leased or used for purposes other than for the provision of the quality government services to all the good residents in the Municipality of Mabalacat, Province of Pampanga, as it further ensures that the same together with its interiors, furnishings, playground and equipment shall remain fully functional, operational and available for their intended use. 


4. 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.


5. 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.


6. 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 San Fernando  , Province of Pampanga.


7. Any act violates of the restriction imposed, or the conditions stated in paragraphs: 1 to 6 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.


8. At the option of DONOR, it has a 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.

IN WITNESS WHEREOF, the DONOR has hereto subscribed himself this   day of January 2009 while the DONEE has duly acknowledged and accepted his Deed of Donation on even date.

GLOBE ASIATIQUE REALITY

HOLDING CORPORATION

Represented By:

MR. DELFIN S. LEE

Donor

MUNICIPAL OF MABALACAT,

PROVINCE OF PAMPANGA

Represented By:

HON. MAYOR MARINO P. MORALES

Donee

Signed in the presence of:

HER EXCELLENCY GLORIA MACAPAGAL-ARROYO

PRESIDENT

REPUBLIC OF THE PHILIPPINES

KNOW THE TRUTH www.globeasiatique.ph