REPUBLIC ACT NO. 1268 - AN ACT DIRECTING THE SALE OF A PORTION OF THE SAN LAZARO FRIAR LANDS IN THE CITY OF MANILA, AT THE CORNER OF QUEZON BOULEVARD AND C. LERMA STREET, TO ACTUAL OCCUPANTS.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The Director of Lands is hereby directed to sell to actual occupants the portions of land belonging to the Republic of the Philippines, situated at the northeast and southeast intersections of Quezon Boulevard and and Lerma Street in the City of Manila: Provided, however, That all lots bordering Quezon Boulevard and C. Lerma Street shall be sold and used for commercial purposes

SEC. 2. The Director of Lands shall cause the property mentioned in section one to be subdivided into lots corresponding to the areas actually occupied by the present occupants, giving allowance for such streets as may be deemed necessary, the cost of the survey and subdivision to be considered as part of the purchase price to be paid by the occupants for their respective lots.

SEC. 3. The sale of the lots in the property mentioned in the preceding sections shall be made at a price to be fixed by the Appraisal Committee of the Bureau of Lands, but if any occupant considers the price fixed for his lot as exhorbitant, then upon his petition the dispute shall be submitted to an Arbitration Board, consisting of three persons, one to be designated by the Director of the Bureau of Lands, one to be designated by a majority vote of the occupants of the properties mentioned in the foregoing sections, and the third to be selected by the two already mentioned.

SEC. 4. The purchase price which may be fixed shall be payable in equal installments for ten years. No payment or fee or rent of any kind shall be charged against the purchasers for their occupation of the lots purchased by them prior to the execution of the contract of sale: Provided, That in case of the lots for commercial purposes, the purchasers shall pay an occupation fee equivalent to four per cent of the purchase price of their respective lots, which amount shall also be payable in equal installments for ten years; Provided, further, That the purchase application shall be made by the occupants within ninety days from notice that the lots occupied by them are ready for sale.

SEC. 5. The Director of Lands, with the approval of the Secretary of Agriculture and Natural Resources, shall issue such rules and regulations as may be necessary to carry into effect the provisions of this Act.

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

Approved, June 14, 1955.