Section 2
SEC. 2. Subject to the terms and conditions established in this Decree and in Act Numbered Twenty-one hundred thirty-seven and to the provisions of the Constitution, the Manila International Port Terminals, Inc., is hereby granted for a period of twenty-five years, renewable for another twenty-five years, the right, privilege and authority to construct, operate and maintain modern container terminals, bonded warehouses, storage depots, cold and refrigerated storage, cargoes and transit sheds, conveyor piers, docks, landing and berthing facilities, access roads, bridges, seawalls bulkheads and fillings in the area of the North Harbor, Manila Bay, subject to private rights, if any there be, which area is more particularly described as follows: "A portion of the Manila Bay and adjoining land area, situated in the North Harbor, District of Tondo, City of Manila, enclosed by the boundary beginning at a point marked "1" on the plan identified as the Farola lighthouse along the Pasig River thence South 88°00W, 280m to point 2; thence South 83°30'w, 1,540m to point 3; thence North 12°30w, 380m to point 4; thence North 64°0'0w, 1,020m to point 5; thence North 81°30w, 115m to point 6, thence South 78°00w, 250m to point 7; thence North 4°00e, 365m to point 5; thence North 81°30w, 115m to point 6; thence North 54°00e, 105m to point 10; thence North 31°00e, 690m to point 11; thence North 62°30e, 1,035m to point 12; thence South 34°00e, 2,115m to point 13; thence North 86°15e 650m to point 14; thence South 3°30'e, 190m to point 15; thence South 89°00w, 280m to point 16; thence South 4°30e, 230m to point of beginning, and consisting approximately of 375.34 hectares." (Note: All data are approximate and subject to change based on future surveys. The "Meters and Bounds Plan" is attached hereto and made part hereof.) for the purposes aforesaid, and to charge and collect a: schedule of rates and fees for the use of the said container terminals and facilities, storage depots, docks, landing facilities, developed land areas, and shipping and allied commercial facilities, which schedule shall be subject to the prior approval of the Secretary of Finance who is authorized to fix, or revise, such schedule of fees and rates on the basis of prevailing charges for similar facilities and services, and considering the grantee's total investments and commitments plus a fair and reasonable profit: Provided, however, That the jurisdiction of the Bureau of Customs over the area hereinabove defined, and the installations and facilities constructed thereon, shall be maintained.