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ALOAN
To build and equip the railway, to pay for the necessary land and to provide Tor interest on the loan during construction and working capital, the British Chinese Corporation is
prepared to issue (on behalf of the Imperial Chinese Railway
Administration) a sterling loan, in one or more parts as may be
found necessary, for an amount not exceeding: £2,000,000, such
Toon to be guaranteed unconditionally es to principal and
interest by China with the railway when completed as first
mortgage security therefor.
Imperial Chinese Government Bonds to be inued for the
entire gum, interest on the Ronds to be at the rate of 5 per
annum and be payable half-yearly.
Duration of the Toan to be fixed et 50 years commencing
from the date of this agreement.
Prico for the loan to be ninety per cent of the nominal
value.
After 18 years from date of iamo, China can redeem the
whole or any portion of the fonds, but if they be redeemod
before 25 years from date of innue a premium of 2) over face
value must be paid, after 25 years however the Bonds may be
redeemed without payment of any premium.
Until interest and principal of Lean and all other
indebtedness is paid off china shall not again mortgage the
reilucy to another party whether Chinese or Foreign.
CONSTRUCTION
The Construction and equipment of the railway to be
carried out by and under the direction of the Imperial Chinese
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