CO129-332 - Public Offices & Others - 1905 — Page 158

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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 Boud issues upon railway

properties in foreign countries, but so that all powers exercisable

thereunder are to be subject to the terms and conditions of the

Working Agreement.

ARTICLE 4.

It is hereby agreed that within

months after this

Agreement is officially ratified the Corporation shall provide the amount

necessary to proceed with the 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 the

expiration of

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.

Of the proceeds realised from the sale of the Bonds after

deducting so much of them as may be required to be kept in England

for the purchase of materials and payments of contracts there, such

amounts as may be estimated and certified to by the Engineer-in-

Chief to the Board of Commissioners hereafter mentioned as being

actually required for the construction of any particular section of the

Railway may be ordered by the Board of Commissioners after

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