Page:United States Statutes at Large Volume 61 Part 4.djvu/827

 4176 U.. troop pay and procurement. Transfer of property and francs to U. 8. Government. ettlmnt of clalms. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [61 STAT. shall be the principal due in that year. Nothing herein shall be con- strued to prevent the French Government from anticipating the pay- ment of any of such installments, or of any part thereof. If, by agreement of both Governments, it is determined that because of extraordinary and adverse economic conditions arising during the course of payment, the payment of any installment would not be in the joint interest of both Governments, payment may be postponed for an agreed upon period. To the extent that the terms of payment provided in this paragraph 3 are inconsistent with those contained in previous agreements, the provisions of this paragraph shall prevail. 4. The two Governments have agreed upon arrangements and pro- cedures for the settlement of past and future troop pay and procure- ment of United States Armed Forces in France and French overseas territories. 5. As and when requested by the United States Government from time to time prior to January 1, 1950, the French Government will transfer to the United States Government real property to be mutually agreed upon and not to exceed a total dollar value of $15,000,000. In addition, the French Government will provide, at the request of the United States Government, francs representing an aggregate dollar value not in excess of $10,000,000. Any francs so transferred will be furnished at the exchange rate established in conformity with proce- dures of the International Monetary Fund, or if no such rate exists, at the rate used in official French Government transactions at the time of such transfer. The United States Government will use francs so transferred exclusively to acquire or improve real property for United States Government use or to carry out educational programs agreed between the two Governments. Transfers made in accordance with this paragraph 5 will be credited first to interest then due and then to installments of principal in direct order of maturity. 6. The two Governments have also agreed upon the following: a) All claims and financial obligations between the two Govern- ments arising out of the acquisition, operation, disposition or loss of French vessels and cargoes of such vessels while under United States control will be settled by the United States for $17,500,000 in accordance with the provisions of an agreement relating to the pur- chase by France of up to 75 Liberty ships. b) Both Governments express their intention of entering into a maritime claims agreement, providing for the mutual waiver of intergovernmental claims arising from maritime accidents, and for the handling by each Government of claims asserted in its courts by its nationals against the other Government and based on maritime accidents occurring prior to November 1, 1945. c) As part of the general settlement, the French Government has agreed to process and pay all unpaid claims of French residents

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