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1 AGREEMENT dated 20 Jumada A1 Thani 1397 A. H. corresponding to 7June 1977 A. D. between. (1) THE REPUBLIC OF CHINA (hereinafter called the Borrower) rep-resented by His Excellency Yu-Chi Hsueh, Ambassador of the Republic of China to the Kingdom of Saudi Arabia. and (2) THE SAUDI FUND FOR DEVELOPMENT, Riyadh, Kingdom of Saudi Arabia (hereinafter called the Fund), represented by Dr. Mahs-oun B. Jalal, Vice Chairman of the Board of Directors and M-anaging Director, PREAMBLE WHEREAS by the Loan Agreement No. 2/30 (Taiwan Trunkline Electr-ification Project) dated Moharram 4, 1396 A. H. corresponding toDecember 25,1976 A. D. between the Fund and the Borrower (herei-nafter called the Loan Agreement), the Fund has agreed to lendto the Borrower a loan in an amount of One hundred five millionnine hundred thousand (105,900,000) Saudi Riyals to assist in t-he financing of Taiwan Trunk-line Electrification Project descr-ibed in Schedule (2) to the Loan Agreement on the terms and con-ditions in the Loan Agreement set forth or referred to: WHEREAS Section 2.04 of the Loan Agreement provides that: "The items to be financed out of the proceeds of the Loan shallbe determined by a subsequent supplemental agreement between theFund and the Borrower. The parties accept all the provisions ofsaid subsequent supplemental agreement as if they were fully setforth herein." and: WHEREAS the Fund and the Borrower, in view of the foregoing, ha-ve agreed to enter into this Agreement with is the SupplementalAgreement referred to in Section 2. 04 of the Loan Agreement; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE Ⅰ Amend ment to the Loan Agreement; Allocation of the Proceeds ofthe Loan Section 1. 01. Section 2. 02 of the Loan Agreement is hereby am-ended to read as follows: "Section 2. 02. The amount of the Loan may be withdrawn from theLoan Account in accordance with the provisions of Schedule (4)to this Agreement, as such Schedule may be amended from time totime by agreement between the Fund and the Borrower, for expend-itures made (or, if the Fund shall so agree, to be made) in res-pect of the reasonable cost of goods and services required forthe Project and to be financed out of the proceeds of the Loan."Section 1. 02. The following schedule is hereby added to the Lo-an Agreement as Schedule (4) thereto: SCHEDULE (4) Withdrawal of the Proceeds of the loan 1. The table below sets forth the Categories of items to be fin-anced out of the proceeds of the Loan, the allocation of theamounts of the Loan to each Category and the percentage of e- xpenditures for items so to be financed in each Category: ─────────────────────────────── Amount of the Loan % of AllocatedExpenditures Category (Expressed in Saudi Riyals)to be Financed─────────────────────────────── Ⅰ Stone ballasts, Wooden Sleepers,5,830,000100%and Spring Steel Spikes under P- art (B) of the Project. Ⅱ Concrete Poles and legs, Wires 29,230,000100%and cables, Concrete Asbestos T- roughs, Iron poles and accessor- ies, Fasteners, and Cable Joints and Instruments under Part (C) of the Project. Ⅲ Installation of electrification60,270,000100%equipment under part (C) of the Project. Ⅳ Contingencies10,570,000 ─────────────────────────────── TOTAL:105,900,000 ─────────────────────────────── 2 Notwithstanding the provisions of paragraph 1 above no withdr-awal shall be made in respect of payments made for: (a) expenditures prior to the date of this Agreement; (b) taxes levied by, or in the territory of the Borrower on g-oods or services, or on the importation, manufacture, pro- curement or supply thereof. ARTICLE Ⅱ Effectiveness Section 2. 01. This Agreement shall become effective upon signa-ture by both parties. IN WITNESS WHEREOF, the parties hereto, acting through their re-presentatives thereunto duly authorized, have caused this Agree-ment to be signed in their respective names, as of the day andyear first above written, in two counterparts in the Arabic lan-guage, each of which shall be an original. REPUBLIC OF CHINA (Signed) YU-CHI HSUEH Authorized Representative SAUDI FUND FOR DEVELOPMENT (Signed) MAHSOUN B. JALAL Vice Chairman and Managing Director