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222 however, that nothing herein shall be deemed to preclude the Bank or any holder of Notes from exercising, or instituting any legal or equitable action to enforce, any right or claim arising out of or pursuant to the Mortgage and Pledge and submission to arbitration hereunder shall not be deemed to be a condition precedent or in any way to prejudice such exercise or enforcement of any such right or claim."

(g) The following two new sub-paragraphs shall be added after sub-paragraph 20 of Section 10.01:

"21. The term ' Mortgage and Pledge' shall have the meaning set forth in Section 1.02 of the Loan Agreement.

22. The term 'Notes' shall have the meaning set forth in Section 1.02 of the Loan Agreement."

(h) The second paragraph of each of the Forms of Bond set forth respectively in Schedule 1 and Schedule 2 shall be deleted and the following paragraph substituted:

"This Note is one of an authorized issue of Notes in various currencies equivalent to an aggregate principal amount of $ ..................... known as the Guaranteed Serial Mortgage Notes of the [Borrower] (hereinafter called the Notes), issued or to be issued under a Loan Agreement dated ..................... ,between the International Bank for Reconstruction and Development (hereinafter called the Bank) and the [Borrower] providing for a loan (hereinafter called the Loan) in an aggregate principal amount in various currencies equivalent to $ ..................... and guaranteed by the Republic of Peru in accordance with the terms of the Guarantee Agreement dated .............................., between the Republic of Peru and the Bank. The Notes are equally and ratably secured by an Hipoteca and Prenda Mercantil y Minera dated .............................. executed by the [Borrower] whereby the properties therein referred to were charged by way of security for the Loan and the Notes. Reference is hereby made to said Agreements and the Hipoteca and Prenda Mercantil y Minera for a description of the properties mortgaged, the nature and extent of the securities, the rights of the holders of the Notes with respect thereto, and the rights and duties of the Bank under or in respect to said Agreements and the Hipoteca and Prenda Mercantil y Minera, all as the case may be. No reference herein to said Agreements or the Hipoteca and Prenda Mercantil y Minera shall impair the obligations of the Borrower, which are absolute and unconditional, to pay the principal of and interest and other charges, if any, on this Note at the times and place, and in the amounts and in the currency herein prescribed.

SCHEDULE 4

1. Concession Norte No. 1—200 hectares located at Cerro Chinguillón, on km 63.900 of the railroad from Pacasmayo to Chilete, District of Trinidad, Province of Contumaza, registered in the Padrón de Minas under No. 1 of sustancias no metálicas No. 3007