CO129-332 - Public Offices & Others - 1905 — Page 168

18

Chinese Government undertakes that until the Bonds shall have been

redeemed and the net profits on the net profit Certificates shall have

been paid, no part of the lands comprised in the mortgage security or

the Railway with its appurtenances shall be transferred or given to

another party, or shall be injured, or that the rights of the first

mortgage shall be in any way impaired and that the provisions of the

Working Agreement shall be adhered to and that no modification or

alteration shall be made therein, nor shall any competing scheme Le

proposed or any consent to any competing scheme be given under the

Working Agreement unless with the consent in writing of the

Corporation which shall only be given if in the opinion of the

Corporation, the interests of the Bondholders will not be affected.

And further until the interest and principal of the Loan and all

indebtedness shall have been paid off, or unless with the express

consent in writing of the Corporation, the Chinese Government or

the Chinese Railway Administration shall not again mortgage the

above properties to another party whether Chinese or foreign.

During the period of this Agreement no special taxes shall be

levied by the Chinese Government on the Railway its appurtenances

or earnings: but all taxes at present payable such as land tax as well

as any taxes which the Chinese Government may hereafter institute,

such as stamp duty, etc., and which may be applicable generally to

all commercial transactions in China, shall also apply in the case of

the Railway and its operations.

166