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ders within two years from the signing of this contract, even though such guano may be discovered and claimnel after the date of the present document. The Government of Peru grants also to the Bondholders the surplus which may remain of the fifty percent of guano from the Islands of Lobos, which belongs to it from the proceeds of the said fifty per advances which Perù owes to Chile, Government_ of Peru from employing the poses, and to this end shall be reserved the guano that may exist in the Chincha Islands, which shall be the exclusive pro commencing when this contract is declared. The Administrator or principal officer of the Callao Custom House shall deliver monthly to the Bank to be selected by the Committee (Bondholders) the proportion corresponding to the yearly payment before making any other disbursement.