Public Law 70–585

That the Secretary of the Treasury is authorized and directed to (1) authorize the Philippi Improvement Company to erect upon the lot of land at the corner of Main and Masons Streets in the City of Philippi, West Virginia, a building to be used as a post office of a design, plan and specification approved by the Postmaster General and by

Bonds required.

the Secretary of the Treasury, and (2) require of the Philippi Improvement Company the execution of such bonds to the United States as are required of contractors for the erection of public buildings.

Sec. 2.

That the Postmaster General is authorized and directed to lease such building from the Philippi Improvement Company for a term of ten years after its occupancy at an annual rental of one- tenth of the total cost of such building, plus taxes, and plus interest at 6 per centum upon the difference between the total cost of the building and the quarterly installments of rent already paid not including interest or taxes, but in no case shall the total payments provided for by this section exceed $52,600.

Sec. 3.

That the expenses of such repairs, maintenance, and operation

Repairs, etc., during lease.

of the building as the Postmaster General may find necessary and proper during the period of the lease shall be borne by the Post Office Department.

Sec. 4.

That upon the termination of the lease provided for in

To become Federal property upon termination of lease, etc.

section 2, or upon payment by the Post Office Department at any time prior to the termination of such lease of the total cost of such building minus installments of rent already paid, such building shall become the property of the United States free and clear of all encumbrances.

Sec. 5.

That there is authorized to be appropriated the amount

Amounts for rent specified.

necessary to pay the installments of rent provided for by section 2, and the expenses of repairs, maintenance, and operation provided for by section 3.