◆ SpookStack

= 16 « + $y 1 a with respect to the Contractors! obligations under this agree- . ment, as fully and completely, and with the same force and effect, as though said Seven MOlion Dollars ($7,000,000) had been paid t in cash, If said wpaid balance has not been reduced to Three Million Dollars (53,000,000) or less, as aforesaid, said trans- fer of Ships ahall not affect the obligation to pay seid unpaid dalance, @xcept that the liability for the ‘unpaid balance of said obligation shall be reduced by Three Million Dollars ($3,000,000) and the remining balance shall become immediately due and payable, r . “ee Noten 7 Si a “yf e a] a, (4) Each Ship Listed in Appendix B shall te fully 2 covered by all customary forms of insurance. If any Ship is oe lost, the interest of the Shipowmer in the insurance proceeds will be substituted for the Ship for the purposes of paragraph (a) of this Article, | _ (e) Similtaneously with the execution of this agree- ment, bills of sale, conveyances and instruments of transfer DAI hd Dia alias . ? ry ° + EER T SEE LEG LEAN AMHR D Lia Po Hos ESI I TB Sal for each Ship listed in Appendix B shall be placed in escrow e rey, PTE pk . tial with an escrow agent acceptable to the parties hereto to Ft secure to the Government the possible surrender of the Ships under paragraph (a) of this Article, and under Article IV (b)(4i). In addition, the registered ower of each Ship hereby irrevocably co appoints the Attorney General, or his designes, as its true and - wae? ob A aie ae ;. : au vs si ett 4 o od f toy fe eet CS 6 i % ~ + tek age x. i, ste a #, fh