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 all real property, namely the Bulk Plant, situated in the Worwoo area of Colonia, Yap Island, Yap State, and more fully described as “An area comprising approximately 3,868 square meters, more or less, as more fully described on Drawing 003 H 00 Plot number 003 H 17, dated June 15, 1976, registered at the Yap District Land Registry on September 23, 1976 as document number 167” 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.