Lease Contract with Caltex Philippines Covering Industrial Lands
Letter of Instructions No. 268, issued on April 3, 1975, directs the Chairman of the Board of Directors of the National Development Company to negotiate and finalize a lease contract with Caltex Philippines, Inc. for lands that have been reclassified as industrial under Presidential Decree No. 680. The lease will take effect once the National Development Company receives the certificates of title for these lands. The letter includes a draft lease agreement as a guideline, allowing for additional terms that benefit the National Development Company. Immediate compliance with these instructions is mandated.
April 3, 1975
LETTER OF INSTRUCTIONS NO. 268
| TO | : | The Chairman |
| Board of Directors | ||
| National Development Company |
You are hereby instructed to negotiate, conclude and sign for and in behalf of the National Development Company a lease contract with Caltex Philippines, Inc. covering the lands reclassified as industrial lands under Presidential Decree No. 680, dated April 3, 1975.
The lease contract shall be effective on the date of issuance of certificates of title covering the above lands to the National Development Company.
Further, you are hereby directed to adopt the attached draft lease agreement as a guideline for the lease agreement. The attached draft however, shall not prohibit the inclusion of other terms and stipulations that may serve the interest of the National Development Company. cd i
For immediate compliance.