"A parcel of land (Lot 3-Portion, Block 501 of the cadastral survey of the City of Manila), situated in the District of Malate, City of Manila. Bounded on the northwest, along line 1-2, by Calle Soldado (now Cuarteles Street); on the north, along line 2-3, by Calle Soldado (now Cuarteles Street); on the northeast, along line 3-4, by Lot 16, Block 501, Manila cadastre; on the southeast, along line 4-5, by remaining portion of Lot 3, Block 501, Manila cadastre; and on the southwest, along line 5-1, by Lot 8, Block 501, Manila cadastre. Beginning at a point marked "1" on plan, being N. 48º 37' W., 230.98 m. from fire plug No. 42, City of Manila, thence N. 67º 46' E., 77.17 m. to point "2"; thence S. 78º 29' E., 4.89 m. to point "3"; thence S. 25º 28' E., 31.50 m. to point "4"; thence S. 67º 14' W., 80.62 m. to point "5"; thence N. 26º 08' W., 35.00 m. to point of beginning; containing an area of two thousand seven hundred eighty-eight square meters, more or less."  

Sec. 3.    The property shall not be leased, but any space in the building to be constructed therein, may be leased to a third party: Provided, That the proceeds from such lease shall be utilized for the purpose for which the said corporation has been established.

Sec. 4.    The title to and use of the land conveyed by this Act shall not be transferred by the said corporation to another person without previous authorization of the President of the Philippines.

Sec. 5.    In case the Friends of Roxas, Inc., is dissolved or ceases, for any reason, to undertake its objectives, or upon the death of its last member, the Manuel A. Roxas Memorial Building and all improvements thereof shall be reverted to the national government, and the latter shall continue to maintain the same in pursuance of the objectives of this Act.

Sec. 6.    This Act shall take effect upon its approval.

Approved:     June 18, 1960