Page:United States Statutes at Large Volume 112 Part 3.djvu/495

 PUBLIC LAW 105-262—OCT. 17, 1998 112 STAT. 2325 61 and 21 of the Arms Export Control Act (22 U.S.C. 2796, 2761) and in accordance with subsection (d) as follows: (1) To the Government of Brazil, the CIMARRON class oiler MERRIMACK (AO 179). (2) To the Government of Greece, the KIDD class guided missile destroyers KIDD (DDG 993), C/J.LAGHAN (DDG 994), SCOTT (DDG 995), and CHANDLER (DDG 996). (d) CONDITIONS RELATING TO COMBINED LEASE-SALE TRANS- FERS.— A transfer of a vessel on a combined lease-sale basis authorized by subsection (c) shall be made in accordance with the following requirements: (1) The Secretary may initially transfer the vessel by lease, with lease payments suspended for the term of the lease, if the country entering into the lease for the vessel simultaneously enters into a foreign military sales agreement for the transfer of title to the vessel. (2) The Secretary may not deliver to the purchasing country title to the vessel until the purchase price of the vessel under such a foreign military sales agreement is paid in full. (3) Upon payment of the purchase price in full under such a sales agreement and delivery of title to the recipient country, the Secretary shall terminate the lease. (4) If the purchasing country fails to make full payment of the purchase price in accordance with the sales agreement by the date required under the sales agreement— (A) the sales agreement shall be immediately terminated; (B) the suspension of lease payments under the lease shall be vacated; and (C) the United States shall be entitled to retain all funds received on or before the date of the termination under the sales agreement, up to the amount of the lease payments due and payable under the lease and all other costs required by the lease to be paid to that date. (5) If a sales agreement is terminated pursuant to paragraph (4), the United States shall not be required to pay any interest to the recipient country on any amount paid to the United States by the recipient country under the sales agreement and not retained by the United States under the lease. (e) FUNDING FOR CERTAIN COSTS OF TRANSFERS.— T here is established in the Treasury of the United States a special account to be known as the Defense Vessels Transfer Program Account. There is hereby appropriated into that account such sums as may be necessary for the costs (as defined in section 502 of the Congressional Budget Act of 1974 (2 U.S.C. 661a)) of the lease-sale transfers authorized by subsection (c). Funds in that account are available only for the purpose of covering those costs. (f) NOTIFICATION OF CONGRESS.— Not later than 30 days after Deadline, the date of the enactment of this Act, the Secretary of the Navy shall submit to Congress, for each naval vessel that is to be transferred under this section before January 1, 1999, the notifications required under section 516 of the Foreign Assistance Act of 1961 (22 U.S.C. 2321J) and section 525 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1998 (Public Law 105-118; 111 Stat. 2413). (g) GRANTS NOT COUNTED IN ANNUAL TOTAL OF TRANSFERRED EXCESS DEFENSE ARTICLES.— The value of a vessel transferred to

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