A second amendment to the contract of lease between the Negros Occidental provincial government and the Philippine National Bank (PNB) was signed yesterday between Governor Alfredo G. Marañon, Jr. and PNB First Vice President Nixon S. Ngo at the Provincial Capitol.
The amendment allows for PNB to construct buildings and perform other renovations on the remaining underdeveloped portion of the leased premises at their cost and expenses; while the provincial government will share expenses with PNB, including realty taxes and other maintenance associated with the leased premises, until 2065.
The initial lease was signed in 1966, when two parcels of land located at the Provincial Capitol site were leased to PNB for a period of 99 years.
Also present were acting Negros Occidental provincial administrator, Dr. Lucille Gelvolea; PNB Assistant Vice President Maria Russel N. Lau; Provincial Legal Officer, Atty. Jose Ma. V. Valencia; Provincial Planning and Development Coordinator, Dr. Ma. Lina Sanogal; Provincial Engineer Ernie F. Mapa; and PNB-Bacolod City branch managers./WDJ