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and shall as soon as possible hereafter be secured by a specific and legal first mortgage in favour of the Corporation upon all lands, materials, rolling stock, buildings, property, and premises of every description purchased or to be purchased for the Railway and on the Railway itself as and when constructed and on the revenue of all descriptions derivable therefrom.
The provisions of this Article in respect of the mortgage are to be construed and treated as equivalent in purport and effect to a mortgage customarily executed and delivered in England to a Trustee for the purpose of securing Loans and Bond Issues upon railway properties in foreign countries.
Article 4.
It is hereby agreed that in six months after this agreement is officially ratified, the Corporation shall provide the amount necessary to proceed with the detailed survey of the Railway, whether this amount comes from the sale or hypothecation of the Bonds, or from advances made, provided that Bonds for the required amount shall have been executed and delivered to the Corporation. If after expiration of eight months from the date of the ratification hereof, the work of construction shall not have been begun on the Railway, this agreement is to become null and void, but if failure to commence construction be due to any cause beyond the power of the Corporation to prevent, a reasonable extension of this time shall be arranged between the Viceroy and the Corporation.
Of the proceeds realised from the sale of the Bonds
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