Section 2March 25, 2007, Sec./Art. 2

Section 3 of Republic Act No. 2239 is hereby amended to read as follows:

"SEC. 3. The property or any space in the building to be constructed therein may be leased or sold in accordance with the provisions of the Condominium Law: Provided, That any deed of conveyance executed by the Foundation shall include its pre-emptive right to repurchase the property from the vendee: and Provided, further, That the proceeds for such lease or sale shall be utilized for purposes for which the Foundation has been established including, but not limited to, the preservation of values of integrity, respect for human dignity and principled leadership characterized by the late President Ramon Magsaysay, and the propagation of the ideas and programs of the Magsaysay Awardees in service to the peoples of Asia."