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of Pern and by the Bondholders, the sum necessary for the construction of the constructed; if lines are built indepen, railways from Chicla to the Orova, and dent of those now constructed, a broad | Company shall be subrogated to the Com. from Juliaca to Marangani and Sicuani, I guage shall be used, except in the case | mittee in all its rights and obligations in conformity with the contracts for the of the line mentioned of Samanco, Casma construction of those roads which the or Supe, where a narrow line may be Bondholders oblige themselves to secure adopted. and place before the said representative of the Government in London, hefere the (ometers stipulated under letter C. in the the necessary capital to work the railloan is floated. The said Banking Institution shall ouly fifty Kilometers within the fourth year, pay out, from the sums deposited with it. fifty within the fifth, and sixty within cordance with its' stipulations, it being the necessary amount for covering the the sixth-If the present stipulation be agreed that the rights and obligations value of the invoices of materials shipped, unfulfilled in its entirety or in part. of this Company con only be transferred and for work effected on the said railways the Bondholders shall pay a penalty of five | to English Companies organized and esaccording to the terms of the contracts thousand pounds sterling for each one of tablished in London. aforesaid. If the first loan to which this the two first sections which is not comclause refers is to be guaranteed exclu- pleted within the stipulated time and enter into force until the Committee essively by one of the two railways men- six thousand pounds sterling for the tablishes. to the satisfaction of the retioned. it will only be necessary to third -- If a year should elapse, the presentative of the Government in Londepostt the value of the construction con- omisions not being repaired, the penal- don, that it is tho logal representative of tract of the section to be built ou ties shall be doubled; if another year the Bondholders, according to what is the line affected. without prejudice to the should elapse the penalty shall be fixed expressed in the credentials of Lord deposit of the value corresponding to the : at twenty five thousand pounds sterling ; Donoughmore, or until the sum of section or sections to be constructed on for every section of fifty Kilometers Twenty two millions of pounds sterling. the other line, when the occasion arrives | unconcluded. and thirty thousand pounds nominal capital, in bonds of the foreign, to establish a lien on that line or on the 'sterling for the section of sixty kilometers debt of Peru, shall be registered and other property conceded by this Con- which corresponds to the last year, tract. 10. The Bondholders oblige themsel- indefinitely for the years during which " 25, 1888, which relieves Peru from all Yes : A. To construct and finish within three years the section from Chicla to the ' shall be effected under a formal invento- . Oroya on the railway from Calldo to the ry to be signed by the persons delivering of any description which shall be reOroya. D. To construct and finish within two : named, one by the Government, and the years the section from Santa Rosa to Ma. | other by the Bondholders. rangani, and within the two following years the section from Marangani to Si- | tanding the stipulations of the ninth cuani on the railway from Juliaca to | Cuzco. C. To construct and finish within six | be not terminated within the stipulated years One hundred and sixty kilometers time, the Bondholders shall pay a penalof railway in one or more of the follow- ty of five thousand pounds sterling for registration and sealing, shall be deposiing directions. From the Oroya to the every uuconcluded section. that is. from ted in a Bank in London until the said Cerro de Pasco; from Pasco to the May- | Chicla to the Oroya and from Santa Rr ro; from Oroya to Tarma or Chanchama- isa to Sicuani; if a year more elapses yo; from the Oroya to Jauja, Concepcion ,without being concluded (the works) the or Huancayo; from Sicuani to Cuzco: penally shall be doubled, and finally if to deliver to the Government of Perú, from Suchiman to Yurimarca, Caraz, two more years elapse without having fifty thousand pounds sterling on this Huaraz or Recuay; from Samanco, Cas- concluded the works the Government . Contract going into force, and one mia or Supe to Recuay, Huaraz, or any | shall have tho right to take pessession of hundred and ninety thousand pounds point in the defile of Huaylas; from Yo- the unconcluded section or sections and sterling in nineteen monthly payments nan to Chilete or La Vina: from Trujillo the principal line or lines to which they of ten thousand pounds sterling cach. to to Huamachuco or in the direction of pertain. the principal line of the section Cajamarca, and finally in the extentions from Chicla to the Croya, being the line or branches of the said lines or in any from Callao to Chicla, and of the section other part, in this last instance the opinion of the Government and the approb- from Juliaca to Santa Rosa. tion of Congress are to be obtained. D .- To repair and put in good condi- six years referred to in the second clause tration and working of tho railways, tion for service within two years, all the | there will be returned to the Governrailways they may receive, in conformity ! ment, free of all claim or burden, all the | force and to the laws of the Republic. with the conditions of paragraphs first | deposits of Gnano. with offices and and second of the second clause. In the case of constructing the one tion. and the railways with their exten- Government, shall not be greater than hundred and sixty Kilometers to which sions and the new lines stipulated, with |thoso observed before the establishment paragraph C of this clause refers, as all their stations, stationary plant, mov- of the fiscal management of the railways. prolongations or branches of the railways | ing and rolling stock necessary for ordi- ; In the sections which will be constructed mentioned in article 2; the periods of nary and regular service. all in good tho same tariffs shall be in force in time shall be counted from the date of repair. the delivery of each railway, and if the Works are carried on in other places the diately after this Contract is declared by agreement between the government periods stipulated shall be counted from in force. shall form and constitute a and the Bondholders, or the companies the date when this Contract goes into Company in London legally registered, force. 110 -- The constructions and repairs referred to shall be executed following | trai ferred all the concessions, properties |shall be increased in proportion, and the quage of the line, and the solidity and'obligations conceded to and assumed 'should the exchange exceed forty pence