REPUBLIC ACT NO. 5263  - AN ACT AUTHORIZING THE PRESIDENT OF THE PHILIPPINES TO SELL A CERTAIN PARCEL OF LAND OF THE PRIVATE DOMAIN OF THE NATIONAL GOVERNMENT TO THE JOSE P. LAUREL MEMORIAL FOUNDATION

Section 1.    The President of the Philippines is hereby authorized to sell to the Jose P. Laurel Memorial Foundation for the nominal price of one peso, the parcel of land owned by the Government and described below:

"A parcel of land with an area of approximately 2,802.60 square meters, more or less situated in the District of Malate, City of Manila, and designated as that portion of Lot 101-B-2, particularly described technically as follows:

"From Fire Hydrant (F. H.) 41, City of Manila to corner 1, being N. 42º 38' W., distance 4.41 meters; then from corner (1) to (2) S. 25º 29' E., distance 35.00 meters; (2) to (3) S. 67º 15' W., distance 79.99 meters; (3) to (4) N. 26º 08' W., distance 35.00 meters; (4) to (1) N. 67º 14' E., distance 80.37 meters.  

Sec. 2.    This conveyance is made for the exclusive purpose of enabling the Foundation to construct on said land a permanent Jose P. Laurel Memorial Foundation Building of its own.

Sec. 3.    The property shall not be leased but any spare in the building to be constructed therein may be leased:

Provided, That the proceeds from such lease shall be utilized for purposes for which the Foundation has been established.

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

Sec. 5.    In case the Jose P. Laurel Memorial Foundation is dissolved or ceases for any reason to undertake its objectives or to have any need for the land, or fails to construct any building within five years after the approval of this Act, or violates any provision of this Act, the said land, including all the improvements thereon, shall ipso facto revert to the National Government without compensation.  

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

Approved: June 15, 1968