[ MIAA RESOLUTION NO. 96-32, March 22, 1996 ]

RENEWAL OF ALL CONCESSION/LEASE CONTRACTS AT MIAA COMPLEX



"RESOLVED, That, the renewal of all concession/lease contracts at MIAA Complex, under the following terms and conditions:
Period:    Six (6) months effective April 1, 1996 or up to October 1, 1996.

Rate:      The existing rentals as billed by MIAA shall be increase by ten (10%) percent; and
The existing Concession Privilege Fee shall be increased by fifteen (15%) percent be approved, as it hereby approved, subject to existing rules and regulations."

That, the foregoing Resolution is still in full force and effect, and has not been repealed, amended, or modified as of this date.

Adopted: 22 March 1996



(SGD.) MANUEL C. SAN JOSE
Corporate Secretary