G.R. No. 116896. May 5, 1997
MAIN TOPIC: Extinguishment of Obligations – Tender of Payment
On November 18, 1985, PNCC entered into the contract of lease with private respondents for a period of five (5) years commencing on the date of issuance of the industrial clearance by the Ministry of Human Settlements for P20,000.00 which shall be increased yearly by Five Percent (5%). On 7 January 1986, petitioner obtained from the Ministry of Human Settlements a Temporary Use Permit for the proposed rock crushing project.