Page:United States Statutes at Large Volume 62 Part 2.djvu/748

 62 STAT.] UNITED KINGDOM-MUTUAL AID SETTLEMENT-JULY 12,1948 in the currency of the country in which the installa- tion is situated. No payment will be made from proceeds arising from the disposal of installations in which the total United States interest is less than ten per cent. (2) Proceeds as referred to in Paragraph II.B(1) hereof are the total sums realized, less reinstatement charges which the United Kingdom is required to incur under the terms of land-hirings. There shall be no deduc- tions for administrative or any other expenses involved in disposals. (3) The respective interests of the two Governments in installations formerly under United States control, and as of the date of this Agreement under United Kingdom control, are set forth in Appendix D hereto. (4) A list of all installations unsold as of November 1, 1947, other than those set forth in Appendices C and D hereto, whether or not such installations have been declared surplus, will be prepared by the United King- dom and submitted to the United States for attach- ment to this Agreement as soon as the respective interests of the two Governments in such installations have been assessed. For the purpose of such assess- ment, the United States lend-lease interest shall be deemed to be (a) five per cent of the total cost of construction of an installation wherein a lend-lease contribution to such construction exists and (b) the value of lend-lease articles installed in the installation, deducting therefrom the value of lend-lease articles removed on or after November 1, 1947 from such in- stallations for military use by the United Kingdom or for disposal by the British Surplus Disposals Mis- sion under the provisions of the Middle East Stores Agreement of January 7, 1948. The total lend-lease interest as thus calculated will be expressed as a per- centage of the total cost of the installation and pay- ment shall be governed by the provisions of Paragraph II.B (1) hereof. (5) The United Kingdom may dispose of any installations under British control to which the provisions of this Agreement apply by sale or otherwise, either as in- stallations or separately as stores and structures, without reference to the United States, except that if the joint installations in Eritrea are not disposed of prior to the termination of the British Military Ad- ministration in that country, the United Kingdom shall consult the United States as to subsequent dis- posal. 68706°- 5 1 --PT. I--47 Post, p. 2033. Preparation by U. K. of list of unsold installations. Post, pp. 2032, 2033. Assessment of instal- lations. Ante, p. 1836. Disposal of joint in- stallations in Eritrea. 2029

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