Page:United States Statutes at Large Volume 62 Part 3.djvu/1366

 62 STAT.] BELGIUM-MUTUAL AID SETTLEMENT- Ju 23 1946 United States surplus property contracted for with the Foreign Liqui- dation Commissioner before October 1, 1946, other than the surplus property referred to in paragraph 2 above. The resulting dollar obligation will be governed by the provision of paragraph 5 below. 4. The two Governments have agreed on the acquisition by the Belgian Government of certain United States surplus property re- maining in Belgium on or after October 1, 1946, and, in stated circum- stances, before September 30, 1946, on the basis of a division between the two Governments of the proceeds of sales. The share accruing to the United States Government of these proceeds will be a dollar ob- ligation of the Belgian Government and will be governed by the pro- visions of paragraph 5 below. 5. A. Payment of the total of the dollar obligations of the Belgian Government to the United States Government referred to in para- graphs 2C, 3, and 4 above shall be made in annual instalments over a period ending July 1, 1976. The first annual instalment shall be due and payable on July 1, 1947, and shall be equal to one-thirtieth of the total dollar obligation as of that date. Each subsequent instalment shall be equal to the total unpaid balance as of the date of the instal- ment divided by the number of instalments remaining to be paid. B. Interest on the unpaid balance of the total dollar obligation shall be paid by the Belgian Government at the fixed rate of two and three-eights per cent per annum, accruing from July 1, 1947, except that, with respect to dollar obligations arising after July 1, 1947, interest shall accrue from the first day of July next following the date on which the obligation arises. Interest shall be payable annually, the first payment to be made on July 1, 1948. C. The Belgian Government may at any time or times anticipate the payment of any instalments or any part thereof. Such payments will be credited first to past due interest, if any, and then to the unpaid instalments in inverse order of maturity, and the number of instal- ments remaining to be paid will thereby be reduced by the number of instalments thus paid in full. D. In the event that the United States Government wishes to receive Belgian francs for the payment of any or all expenditures to be made after December 31, 1946 by the United States Government, in- cluding its agencies, in Belgium, the Belgian Congo, or Luxembourg, the United States Government may request Belgian francs in specified amounts at any time or times after December 31, 1946 and the Belgian Government agrees to furnish Belgian francs in such amounts at such time or times, subject to the limitations that (1) the aggregate of the dollar equivalents of such amounts (computed at the par value or rate specified in paragraph 2A (3)) shall not exceed $5,000,000 and (2) the aggregate of the dollar equivalents of any such amounts (computed as so specified) requested in the twelve-month period beginning any first day of July, added to the amount of the annual instalment and inter- est, if any, payable in such period under sub-paragraphs A and B above and any payments already made by the Belgian Government in such period under sub-paragraph C above, shall not exceed $2,000,000 68706--2 -PT. l -- -87 3987 Annual installments of dollar obligation. Interest. Ante, p. 3985.

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