1984421590

42

United Nations — Treaty Series

1972

Section 2.04. The Closing Datę shall be December 31,1974 or such other datę as shall be agreed between the Borrower and the Association.

Section 2.05. The Borrower shall pay to the Association a service charge at the ratę of three-fourths of one per cent (f of 1 %) per annum on the principal amount of the Credit withdrawn and outstanding from time to time.

Section 2.06. Service charges shall be payable semi-annually on March 1 and September 1 in each year.

Section 2.07. The Borrower shall repay the principal amount of the Credit in semi-annual installments payable on each March 1 and September 1 commen-cing March 1, 1982 and ending September 1, 2021, each installment to and in-cluding the installment payable on September 1, 1991 to be one-half of one per cent (i-of 1%) of such principal amount, and each installment thereafter to be one and one-half per cent (H%) of such principal amount.

Section 2.08. The currency of the United Kingdom of Great Britain and Northern Ireland is hereby specified for the purposes of Section 4.02 of the General Conditions.

Article III

EXECUTION OF THE PROJECT

Section 3.01. The Borrower shall carry out the Project with due diligence and efficiency and in conformity with sound engineering, administrative and financial practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the purpose.

ł

Section 3.02. Except as the Borrower and the Association shall otherwise agree, the Borrower shall:

(а)    in order to carry out Part B of the Project, establish and maintain two road betterment units within the Roads and Aerodromes Division and employ consultants acceptable to the Association upon terms and conditions satis-factory to the Association all in accordance with Schedule 4 to this Agree-ment, as modified from time to time by agreement between the Borrower and the Association;

(б)    In order to assist the Borrower in carrying out Part A and Part C of the Project, employ engineering consultants acceptable to the Association upon terms and conditions satisfactory to the Association; and

(c) in order to assist the Borrower in carrying out Part D of the Project,

No. 11630