BE IT RESOLVED by the Eleventh Legislature of the State of Yap, Third Regular Session, 2025, that the Lease Agreement between the Government of the State of Yap and Federated States of Micronesia Petroleum Corporation (FSMPC) of real property at the Yap International Airport designated for the Yap State Airport Fuel Facility, and more fully described as “An area comprising approximately 2,712.77 square meters, as more fully described on Tract No. 60004, Drawing No. 6001708, a copy of which is attached hereto as ‘Exhibit A’, and made a part hereof by reference, together with all the permanent fixtures situated thereon, including all buildings, fuel tanks, pipelines, hydrants, and their appurtenances” is hereby approved; and

BE IT FURTHER RESOLVED that the Lease Agreement is for a term of twenty years commencing on October 1, 2024 and ending on September 30, 2044; and

BE IT FURTHER RESOLVED that certified copies of this Resolution be transmitted to the Governor, the Chairman of the Board of Directors for Federated States of Micronesia Petroleum Corporation (FSMPC), the Chief Executive Officer of the Federated States of Micronesia Petroleum Corporation (FSMPC), the Attorney General, the Chairman of the Council of Pilung, and the Chairman of the Council of Tamol.