Limestone and shale will come from quarries and deposits which the Borrower owns at Tembladera about 60 km distant from the plant site. The Borrower will erect crushing facilities at Tembladera and will transport the crushed limestone and shale to the plant. Both rail and road transportation facilities are available therefor.
The plant will be designed for ready conversion to solid fuel.
SCHEDULE 3
Modifications of Loan Regulations No. 4
For the purposes of this Agreement the provisions of Loan Regulations No. 4 of the Bank, dated February 15, 1955, shall be deemed to be modified as follows:
(a) The term " Notes " shall be substituted for the term "Bonds" and the term "Note" shall be substituted for the term " Bond " wherever used in the Loan Regulations.
(b) Section 5.02 (c) shall read as follows:
"A default shall have occurred in the performance of any other covenant or agreement on the part of the Borrower or the Guarantor under the Loan Agreement, the Guarantee Agreement, the Mortgage and Pledge or the Notes."
(c) The following new sub-paragraph shall be added after sub-paragraph (c) of Section 6.11:
"(d) Notes not containing the provisions contemplated in Section 4.02 of the Loan Agreement may be exchanged without charge to the Bank for Notes containing such provisions."
(d) The second sentence of Section 7.02 shall read as follows:
"Such obligations shall not be subject to any prior notice to, demand upon or action against the Borrower or to any prior notice to or demand upon the Guarantor with regard to any default by the Borrower, and shall not be impaired by any of the following: any extension of time, forbearance or concession given to the Borrower; any assertion of, or failure to assert, or delay in asserting, any right or remedy against the Borrower or in respect of any security for the Loan; any modification or amplification of the provisions of the Loan Agreement contemplated by the terms thereof; any failure of the Borrower to comply with any requirement of any law, regulation or order of the Guarantor or of any political subdivision or agency of the Guarantor."
(e) Section 6.18 shall be deleted.
(f) Paragraph (j) of Section 7.04 shall read as follows:
"(j) The provisions for arbitration set forth in this Section shall be in lieu of any other procedure for the determination of controversies between the parties to the Loan Agreement and the Guarantee Agreement or any claim by any such party against any other such party arising thereunder or under the Notes; provided,
No. 3007
