Republic of the Philippines

“ That no duty, tax, excise, or other governmental exaction is included in the price, and if any such duty, tax excise, or governmental exaction is levied or found to be payable, the Philippines shall pay such sum in addition to the purchase price of the property sold. The United States represents that no duties, taxes, excises, or other governmental exactions are due to the Government of the United States. ”

“ That the United States warrants title to the property transferred, and that in lieu of any other warranty or undertaking as to the kind, size, weight, quantity, quality, character, value, description, condition or fitness for use thereof, it is understood that if a material disparity is found to exist between the property transferred to the Philippines hereunder and the consideration given therefor by the Philippines hereunder, the two Governments will consult together to fix an appropriate adjustment in the price paid. ”

“ WHEREAS, the Congress of the United States has, by the Philippine Rehabilitation Act of 1946, authorized the grant to the Philippines of surplus property in the Philippine Islands aggregating not more than one hundred million dollars in fair value without reimbursement to the United States ”