Section 2
SEC. 2. The acquisition cost of the properties including existing permanent trees shall, in case of negotiated sale, be in the amount of Twelve Thousand Five Hundred (P12,500.00) Pesos per hectare while permanent buildings shall be compensated in accordance with the market value fixed by the Provincial Assessor, the provisions of Presidential Decree No. 76 notwithstanding, and if by expropriation proceedings, such cost for the lands and buildings shall be in accordance with Presidential Decree No. 76. In both cases, for the dispossession of the bona-fide tenant-tillers from their farmholdings they shall be compensated in the amount of Twelve Thousand Five Hundred (P12,500.00) Pesos per hectare and they shall be given a free homelot of Five Hundred (500) square meters each to be located in the barrio site to be set aside by the University of the Philippines at Los Baños. The other landless occupants in the area shall be given the option to purchase in the barrio site a homelot of not more than Five Hundred (500) square meters each at One Peso and Twenty Five Centavos (P1.25) per square meter.