Condonation of Accrued Interests on Overdue Land Organization Payments and/or Rentals

January 28, 1986

EXECUTIVE ORDER NO. 1083

CONDONATION OF ACCRUED INTERESTS ON OVERDUE LAND AMORTIZATION PAYMENTS AND/OR RENTALS BY AGRARIAN REFORM BENEFICIARIES IN ALL LANDED ESTATES ADMINISTERED BY THE MINISTRY OF AGRARIAN REFORM

WHEREAS, due to force majeure and other economic difficulties, the farmer-beneficiaries in government-acquired landed estates have generally failed to pay their land amortization and/or rentals in these estates;

WHEREAS, accrued rentals and interest in these estates have accumulated to a considerable amount whereby the farmer-beneficiaries concerned can not afford to pay;

WHEREAS, it is the policy of the government to extend all possible assistance to farmers especially during this period of national economic recovery;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby condone all accrued interest on the overdue land amortization of all agrarian interest on the overdue land amortization of all agrarian reform beneficiaries and/or the rental payments in these estates as of December 31, 1985. asia dc

DONE in the City of Manila, this 28th day of January, in the year of Our Lord, Nineteen Hundred and Eighty-Six.

Published in the Official Gazette, Vol. 82 No. 6 page 901 on February 10, 1986.