drain the peaches and lay them out on paper towles to further drain. you shouldn't have any liquid on them when you add to the cheesecake. Beat cream cheese until fluffy. Add the condensed milk and mix until well blended. stir in lemon juice and the extract. pour have of the cream cheese mix in the crust. top with half of the peaches in a single layer being sure that they don't overlap. pour remaining mixture and top with the rest of the peaches. cover and chill for two hours.