Section 5
SEC. 5. At least ten per cent of the purchase price shall he paid before the contract of sale is signed by the parties and the balance shall be paid in full or in not more than ten equal annual installments with interest at five (5%) per centum per annum on the unpaid balance. For the purpose of this Act, the fixed price for the private sale of agricultural lands and all improvements existing thereon belonging to the Government shall be appraised and determined by a Committee to be composed of a representative of the Chairman and General Manager of the National Abaca and Other Fibers Corporation as Chairman, and representatives of the Philippine Veterans Legion and of the Provincial and/or City Assessor's Office where the property sought to be sold is situated, as members, while the private sale of urban, homesite and residential lots and all improvements existing thereon belonging to the Government shall be appraised and determined by a committee to be composed of a representative of the Chairman and General Manager of the National Abaca and Other Fibers Corporation as Chairman, and representatives of the Auditor General and of the Provincial and/or City Assessor where the property sought to be sold is situated as members.