Authority of Land Bank of the Philippine Governing Disposal and Development of Pistang Pilipino Property ( Memorandum Order No. 325 )

December 06, 1995

December 6, 1995


In connection with the disposal and development of Land Bank of the Philippines' (LBP's) Pistang Pilipino Property located at Roxas Boulevard, Manila, via an asset swap arrangement approved by the President on July 11, 1995, the LBP is hereby AUTHORIZED:

1. To purchase additional floor spaces of at least 30,000 square meters of the building to be constructed on the same property;

2. To engage the services of consultants and contractors for the interior works and acquire/purchase equipment, supplies, materials for the building on a negotiated basis; cdt

3. To complete construction of the building in case Landbank, for justifiable reasons, takes over the Project from the contractor; and

4. To enter, execute, and sign all contracts and agreements necessary to implement the Project.

Manila, December 6, 1995