Page:UN Treaty Series - vol 221.pdf/222

210 Section 5.04. (a) The Bank and the Borrower shall cooperate fully to assure that the purposes of the Loan will be accomplished. To that end, each of them shall furnish to the other all such information as it shall reasonably request with regard to the general status of the Loan.

(b) The Bank and the Borrower shall from time to time exchange views through their representatives with regard to matters relating to the purposes of the Loan and the maintenance of the service thereof. The Borrower shall promptly inform the Bank of any condition which interferes with, or threatens to interfere with, the accomplishment of the purposes of the Loan or the maintenance of the service thereof.

Section 5.05. (a) As soon as practicable after the date of this Agreement the Borrower shall execute and deliver to the Bank a first mortgage (Hipoteca) in form and substance satisfactory to the Bank covering the properties set forth in Schedule 4 to this Agreement, and a Prenda Mercantil and Minera in form and substance satisfactory to the Bank covering all materials, supplies, tools, machinery, equipment and other personal property (not covered by the Hipoteca) owned or to be acquired at any time in the future by the Borrower. Such first mortgage and such Prenda Mercantil and Minera shall equally and ratably secure payment of the principal of, interest, premium, if any, on prepayment or redemption, and other charges on, the Loan and the Notes.

(b) The Borrower shall promptly acquire all materials, supplies, tools, machinery, equipment and other personal property the acquisition of which is required for the completion and continued operation of the Project.

(c) The Borrower shall cause the Mortgage and Pledge to be duly registered in the Registro de la Propiedad Inmueble de Trujillo, the Registro Mercantil de Lima, and the Registro de Concesiones y Derechos Mineros, as the case may be.

(d) The Borrower shall duly record, register and file and re-record, re-register and re-file the Mortgage and Pledge, or cause the Mortgage and Pledge to be duly recorded, registered and filed and re-recorded, re-registered and re-filed in every jurisdiction for which the Bank may from time to time request any such action or where any such action may be necessary or desirable in order to render or maintain the Mortgage and Pledge valid and enforceable first liens.

(e) The Borrower shall take all such other steps and execute and deliver all such other documents as the Bank may from time to time reasonably request or as may from time to time be required in order to render or maintain the Mortgage and Pledge valid and enforceable first liens.

Section 5.06. No delay in exercising, or omission to exercise, any right or power of the Bank under the Mortgage and Pledge shall affect or impair any obligation of the Borrower under this Agreement.

Section 5.07. Except as the Bank shall otherwise agree, the Borrower shall not sell, mortgage, pledge or otherwise dispose of, or permit the creation as security for debt No. 3007