Exhibit 10.10
 ARIAS TRUST AGREEMENT
 Effective date : June 5, 2006
 (Amended sections and exhibits, including the amendments approved at the Trustors Meeting held on
May 29, 2008)
 ONE: Definitions.
 1)
    
    PREMISES:The premises located at the corner of Arias and Melián streets in the City
of Buenos Aires. Property Identification: Area 16, Section 43, Block 12A, Parcel 4, Total
area 5741.16 m2, with a 88-meter long front on Arias street, a curving façade on Melián
street, and 79.87 over Parcel 3, including green space to be assigned.
 2)
    
    AGREEMENT:The agreement embodied in this instrument, together with its EXHIBITS and
all other supplementary documentation duly identified herein.
 3)
    
    TRUST:The real property trust known as Arias Trust created under this AGREEMENT.4)
    
    TRUSTORS:TRUSTORS A and B .
 5)
    
    TRUSTORS A: The individuals or legal entities originally signing the AGREEMENT in
their capacity as trustors and Campos Setenta S.A., whose rights and obligations are set
forth in section FOUR.
 6)
    
    TRUSTORS B: The individuals or legal entities adhering to the AGREEMENT in that
capacity, whose rights and obligations are set forth in section FIVE.
 7)
    
    TRUSTEE:Trustee shall mean INTECONS S.A., the company which at the direction of and
with the funds provided by the TRUSTORS shall acquire the PREMISES and carry out a real
property project in accordance with the terms and conditions of this AGREEMENT.
 8)
    
    BENEFICIARIES:The TRUSTORS and any assignees of their rights.
 9)
    
    BUILDING:The building to be constructed for office use at the PREMISES, based on
the project approved by the pertinent municipal authorities on March 7, 2008.
 10)
    
    UNITS:The apartments and supplementary facilities included in the BUILDING to be
constructed.
 11)
    
    TRUST FUND:The fund made up of contributions by the TRUSTORS and by any other amount
contributed under the AGREEMENT. The TRUST FUND shall be used to acquire the PREMISES, to
construct the BUILDING and to pay any other expenses or taxes related to the TRUSTs purpose.
 12)
    
    TRUST PROPERTY:The trust property shall be that composed of the PREMISES, the TRUST
FUND and the assets of any kind as may be
acquired by the TRUSTEE in furtherance of the purpose of the TRUST. Pursuant to section 14 of
law No. 24.441/95, trust assets are separate from the property of the parties to this AGREEMENT
and as such they shall remain outside the scope of any individual or joint action filed by the
creditors of the TRUSTEE or the TRUSTORS.




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13)
    
    AUDITOR:This shall mean the accounting firm doing business as Estudio María Eugenia
De Piero, which shall be responsible for auditing and certifying the information provided by
the TRUSTEE with respect to any use of funds or investments.
 14)
    
    ARCHITECTURE FIRM:This shall mean Architecture Firm M.SG.S.S.S. SA, responsible for
the architectural project for the construction of the BUILDING, whose rights and obligations
are set forth in section EIGHT.
 15)
    
    PROJECT:The plans prepared by the ARCHITECTURE FIRM and approved by the
municipality on 3/7/08 and a detailed project description, both attached as EXHIBIT 1. The
PROJECT shall be subject to the final adjustments made by the ARCHITECTURE FIRM or any other
adjustments required for technical reasons.
 16)
    
    EXHIBITS:The documents identified as being an integral part of the AGREEMENT:
EXHIBIT 1: PROJECT. EXHIBIT 2: Unit Worksheets. EXHIBIT 3: Estimated initial contributions to
be made by TRUSTORS A  (total contributions and a breakdown of contributions by each
trustor A) and contribution payment schedule. EXHIBIT 4: Total estimated costs to be borne
by TRUSTORS B, payment schedule and percentage of contribution for each unit to which
TRUSTORS B are entitled. EXHIBIT 5: Units to be delivered to TRUSTORS A and the
percentage of contributions over costs in excess of those estimated in Exhibit 4 with respect
to Trustors B to be made by Trustors A entitled to such units. EXHIBIT 6: Crown.
 17)
    
    EXTERNAL AUDITOR: It shall mean the firm doing business as Estudio Schindel, which
shall audit the Balance Sheets and all information concerning the uses of funds and
investments, as prepared by the TRUSTEE and signed and certified by the AUDITOR, as well as
all AUDITORs work documents for the purpose of informing the TRUSTORS on their accuracy and
reasonability.
 SECOND: Purpose
 The purpose of this AGREEMENT is to create a trust in accordance with section 2662 of the Civil
Code and the provisions of law No. 24.441 for the acquisition of the PREMISES, the construction of
the BUILDING in line with the PROJECT, and the ensuing division into and transfer of the UNITS to
the TRUSTORS. The TRUSTEE shall be vested with ownership over the PREMISES and the TRUST FUND for
the benefit of the BENEFICIARIES.




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THIRD: Term
 This AGREEMENT shall be effective for (60) sixty months from the date of its signing, a term which
is deemed sufficient to attain the purpose hereof. The specified term shall be automatically
renewed for an additional period of six months where such renewal is necessary due to delays in
construction works or if obligations are outstanding upon lapse of the initial term.
 The AGREEMENT shall be early terminated upon sale of the PREMISES and distribution of the FUND
TRUST among TRUSTORS A once all obligations are complied with, if TRUSTORS B entitled to all
UNITS other than the UNITS to which TRUSTORS A are entitled fail to adhere to the AGREEMENT
before September 30, 2008.
 FOUR: Rights and Obligations of TRUSTORS A
 4.1)
    
    TRUSTORS A shall have the following obligations:
 4.1.1)
    
    To contribute all funds necessary to acquire the PREMISES and bear all related maintenance
and repair expenses, the fees due to the ARCHITECTURE FIRM, any expenses related to the
approval of the project (including construction permits), and any other expenses related to
the purpose of this AGREEMENT until TRUSTORS B join the trust or until the sale of the
PREMISES. In addition, Trustors A shall provide the funds necessary to pay 19.4193% of the
amount in excess of the total costs to be borne by TRUSTORS B, as estimated in EXHIBIT 4.
Except for initial contributions as specified for each trustor in Exhibit 3, all further
contributions shall be made in proportion to the units to which the trustors shall be
entitled, in line with the percentage interests stated in EXHIBIT 5.
 4.1.2)
    
    Payment of Contributions: EXHIBIT 3 outlines the estimated schedule for the payment of the
initial contributions due by each TRUSTOR A, provided however that TRUSTORS A shall
thereafter make contributions as and when required by the TRUSTEE in furtherance of the
purpose of the TRUST.
 4.1.3)
    
    Payment Currency: Contributions shall be made in the currency designated by the TRUSTEE
based on the nature of the obligations owed under the TRUST.




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4.1.4)
    
    Failure to Make Initial Contributions: In view of the fact that time is of the essence for
the payment of initial contributions, TRUSTORS failure to make any such contributions shall
entitle the TRUSTEE to terminate the AGREEMENT with respect to the breaching TRUSTOR A,
without demand of payment being required. In such case, if there is no immediate substitute
trustor (which the TRUSTEE shall not be liable to find), the breaching trustor shall be
liable for all damage sustained by the remaining TRUSTORS A as a result of such breach,
including the loss of
any price amounts paid in advance to the seller of the PREMISES. In the event there is a
substitute trustor, the breaching trustor shall forfeit to the remaining TRUSTORS A (in an
amount proportionate to their interests) any amounts contributed up to 30% of the total
contribution initially committed. Any balance to which the breaching trustor may be entitled
shall be reimbursed within thirty days following substitution.
Breach following Initial Contributions: (i) Failure to make timely payment shall cause the
breaching TRUSTOR A to be in default by operation of law, without any court or out-of-court
notice being required. Upon default, the TRUSTEE shall be entitled to collect interest from
the breaching TRUSTOR A at a 3% monthly rate from the date of default until the full payment
of all outstanding amounts. The defaulting TRUSTOR A shall not be released from its payment
obligation unless accumulated interest until the date of effective payment is paid together
with any contributions due, notwithstanding the penalties provided for in the following
section; (ii) Failure by TRUSTOR A to timely pay any of the installments owed as
contributions following the initial contributions shall entitle the TRUSTEE to terminate the
AGREEMENT with respect to the breaching TRUSTOR A, provided actual notice is given for such
installment plus accrued interest to be paid within no less than five days. The termination of
this AGREEMENT shall cause the breaching TRUSTOR A to be excluded from the trust. In such
case, all amounts paid by the breaching TRUSTOR A shall be withheld until the purpose of the
AGREEMENT is fully complied with, under the conditions stated below; (iii) As and for
liquidated damages, the excluded TRUSTOR A shall forfeit any amounts paid up to 25% of its
total estimated contribution. In the event the amounts paid by the breaching TRUSTOR until the
date of its exclusion exceed the liquidated damages amount specified, the TRUSTEE shall
reimburse any balance to the TRUSTOR within 30 days following the execution of the deed
transferring the UNITS to all TRUSTORS, without interest or adjustments; (iv) In the event a
breaching TRUSTOR A is excluded, the TRUSTEE shall call a Special Trustors Meeting to be
held within thirty (30) days following notice of exclusion, in order to carry out an awarding
process between all TRUSTORS present at the meeting to acquire all rights of excluded TRUSTOR
A and to assume all its obligations. The proceeds resulting from such award shall be
allocated to the TRUST FUND and inure to the benefit of all TRUSTORS A, provided that if
such proceeds are less than the amount to be reimbursed to the excluded trustor in compliance
with item (iii) of this section, the difference shall be paid by all TRUSTORS A, including
substitute TRUSTOR A, in proportion to the percentage interests specified in Exhibit 5. In
the event the awarding process fails, the TRUSTEE shall seek to find another TRUSTOR A
under the same conditions applicable to the award between TRUSTORS A, within fifteen (15)
business days following the date of the initial award. Absent a substitute trustor upon lapse
of such term, all TRUSTORS A shall acquire the rights and assume the obligations of the
excluded TRUSTOR A, in proportion to their interests.




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4.2)
    
    TRUSTORS A shall have the following rights:
 4.2.1)
    
    In the event TRUSTORS B in a number sufficient to construct the BUILDING before 09/30/08
join the trust, TRUSTORS A shall have the right to be transferred full ownership of the
UNITS of the BUILDING, as provided for with respect to each of them in EXHIBIT 5. TRUSTORS A
shall be entitled to the perpetual use for advertising purposes of the buildings crown, as
described in EXHIBIT 6. It is hereby expressly agreed that TRUSTORS A shall not be entitled
to any claim if due to changes in the PROJECT, as determined by the ARCHITECTURE FIRM, the
area of their UNITS increases or decreases by 5%. The provisions of sections 6.1.13) and
6.1.14) shall apply to TRUSTORS A.
 4.2.2)
    
    TRUSTORS A shall have a preference right to participate as TRUSTORS B in the same
proportion of their interest with respect to all other TRUSTORS A as set forth in exhibit 5.
If any TRUSTOR A fails to fully or partially exercise such preference right, the remaining
TRUSTORS A shall have a right to acquire up to 100% of all units meant for TRUSTORS B in
the mentioned proportion. In the case of Campos Setenta S.A., the referred-to preference right
and the right to acquire any units not acquired by other TRUSTORS A in exercise of their
preference rights shall be exercised by the company itself or by its shareholders.
 4.2.3)
    
    If TRUSTORS B having a right to acquire all UNITS fail to join the trust, and TRUSTORS
A are prevented from acquiring such UNITS until 09/30/08, TRUSTORS A shall be entitled to
determine at a Meeting the conditions for the sale of the PREMISES, provided that the
proceeds from such sale, net of expenses, shall be distributed among them in proportion to
their interests with respect to the share of all TRUSTORS A.
 4.3)
    
    Assignment: TRUSTORS A may assign all their rights and obligations under this AGREEMENT to
any third parties. Assignees shall thus become TRUSTORS A, provided that the assignor
TRUSTOR A shall be jointly and severally liable for the assignees compliance with all its
obligations. Any costs incurred by the TRUST as a result of an assignment shall be borne by
the assignee.
 FIVE: TRUSTORS Bs Rights and Obligations
 5.1)
    
    TRUSTORS B shall have the following obligations:
 5.1.1)
    
    TRUSTORS B shall be under a duty to contribute the funds necessary to maintain the
PREMISES and keep them in good condition from the moment they join the trust, and to
construct the BUILDING and execute the relevant deeds for all units, in proportion to their
participation based on the units chosen and the at cost contribution percentages specified in
EXHIBIT 4. It is hereby expressly stated that: a) if the total costs to be borne by TRUSTORS
B exceed the costs estimated in EXHIBIT 4, TRUSTORS B shall provide the funds necessary
to pay
80.5807% of the excess amount, provided that the remaining 19.4193% shall be borne by
TRUSTORS A; b) the estimated amounts are set for reference purposes only, provided that
TRUSTORS B shall be required to pay a percentage of the total maintenance expenses related
to the PREMISES and to the ensuing construction of the BUILDING, as well as any other
expenses in connection with the purpose of this AGREEMENT, whether included or not in the
referred-to estimate, and even if they exceed the costs estimated; c) Expenses not included
in EXHIBIT 4 shall be directly related to the purpose of the trust and d) the TRUSTEE shall
not introduce substantial changes to the technical specifications (EXHIBIT I) of the BUILDING
without the TRUSTORS consent.




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5.1.2)
    
    Payment of Contributions: Contributions shall be initially paid in line with the investment
schedule set forth in EXHIBIT 4, provided however that they shall conform to the requirements
of the works.
 5.1.3)
    
    Payment Currency: Contributions shall be paid in the currency designated by the TRUSTEE
based on the nature of the obligations owed under the TRUST.
 5.1.4)
    
    Breach Untimely Payment  Interest: Failure to make timely payment shall cause the
breaching TRUSTOR B to be in default by operation of law, without any court or out-of-court
notice being required. Upon default, the TRUSTEE shall be entitled to collect interest from
the breaching TRUSTOR B at a 3% monthly rate from the date of default until the full
payment of all outstanding amounts. The defaulting TRUSTOR B shall not be released from its
payment obligation unless accumulated interest until the date of effective payment is paid
together with any contributions due, notwithstanding the penalties provided for in the
following section.
 5.1.5)
    
    Termination- Exclusion: Failure by TRUSTOR B to timely pay any of the installments owed
as contributions shall entitle the TRUSTEE to terminate the AGREEMENT with respect to the
breaching TRUSTOR B, provided actual notice is given for such installment plus accrued
interest to be paid within no less than five days. The termination of this AGREEMENT shall
cause the breaching TRUSTOR B to be excluded from the trust. In such case, all amounts paid
by the breaching TRUSTOR B shall be withheld until the purpose of the AGREEMENT is fully
complied with, under the following conditions.
 5.1.6)
    
    Liquidated Damages: As and for liquidated damages, the excluded TRUSTOR B shall forfeit
any amounts paid up to 25% of its total estimated contribution. In the event the amounts paid
by the breaching TRUSTOR until the date of its exclusion exceed the liquidated damages amount
specified, the TRUSTEE shall reimburse any balance to the TRUSTOR within 30 days following
the execution of the deed transferring the UNITS to all TRUSTORS, without interest or
adjustments.




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5.1.7)
    
    Substitution of excluded TRUSTOR B  Procedure: In the event a breaching TRUSTOR B is
excluded, the TRUSTEE shall call a Special
Trustors Meeting to be held within thirty (30) days following notice of exclusion, in order
to carry out an awarding process between all TRUSTORS present at the meeting to acquire all
rights of the excluded TRUSTOR and to assume all its obligations. The proceeds resulting from
such award shall be allocated to the TRUST FUND and inure to the benefit of all TRUSTORS B,
provided that if such proceeds are less than the amount to be reimbursed to the excluded
trustor in compliance with item 6) of this section, the difference shall be paid by all
TRUSTORS B, including the substitute TRUSTOR B, in proportion to the percentage share in
the initial cost indicated in Exhibit 4. In the event the awarding process fails, the TRUSTEE
shall seek to find another TRUSTOR B under the same conditions applicable to the award
between the TRUSTORS within fifteen (15) business days following the date of the initial
award. Absent a substitute trustor upon lapse of such term, all TRUSTORS B shall acquire
the rights and assume the obligations of the excluded TRUSTOR B, in proportion to their
interests.
 5.2)
    
    TRUSTORS B shall be entitled to acquire ownership of the UNIT(S) listed in EXHIBIT 4, which
shall be identified in the agreement signed by each TRUSTOR B to adhere to this AGREEMENT.
It is hereby expressly agreed that TRUSTORS B shall not be entitled to any claim if due to
changes in the PROJECT, as determined by the ARCHITECTURE FIRM, or for any technical reasons
in connection with the works, the area of their UNITS increases or decreases by 5%. The
provisions of sections 6.1.13) and 6.1.14) shall apply to TRUSTORS B.
 5.3)
    
    Assignment: TRUSTORS B may assign all their rights and obligations under this AGREEMENT to
any third parties. Assignees shall thus become TRUSTORS B, provided that the assignor
TRUSTOR B shall be jointly and severally liable for the assignees compliance with all its
obligations. For the TRUSTEE to be notified of any such assignments, the assignee shall pay
fees in the amount of USD 200 (two hundred U.S. dollars) plus VAT. Any costs incurred by the
TRUST as a result of an assignment shall be borne by the assignee.
 SIX. TRUSTEES Rights and Obligations
 6.1)
    
    While acting as owner and administrator of the TRUST PROPERTY, the TRUSTEE shall comply with
the terms of the AGREEMENT and its purpose. The TRUSTEE shall duly perform its obligations
and exercise its powers pursuant to the trust placed upon it, in accordance with Law No.
24,441. Subject to these limitations and pursuant to these conditions, the TRUSTORS confer
upon the TRUSTEE all such powers as are necessary to administer the trust created under this
AGREEMENT. The TRUSTEE shall have the following rights and obligations, notwithstanding other
rights and obligations conducive to the purpose of the trust:
 6.1.1)
    
    Administration and Management Powers: The TRUSTEE shall administer and manage the real
estate Project, and collect from TRUSTORS A the
funds committed as payment for the PREMISES, the trust ownership of which shall be registered
temporarily and conditionally under TRUSTEEs name, pursuant to Argentine Civil Code section
2662 and the relevant provisions of Law 24,441, and from the TRUSTORS pursuant to the
AGREEMENT such funds as are necessary to cover all such costs as it must incur to construct
the BUILDING and perform all such other acts as are conducive to the purpose of the TRUST.




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6.1.2)
    
    The TRUSTEE shall keep the TRUST PROPERTY separate from its own assets. In accordance with
Law 24,441 section 14, the TRUST PROPERTY shall remain separate and distinct from the
TRUSTORS and the TRUSTEEs assets.
 6.1.3)
    
    Receipt of subscription offers from TRUSTORS B and trust subscription agreement: The
TRUSTEE shall receive trust subscription offers, which shall be irrevocable until June 15,
2008, from any investor who is interested in participating as TRUSTORS B (which offers shall
be secured with such minimum upfront payment as the TRUSTEE determines), and the TRUSTEE
shall accept such offers when offers have been received for all units pertaining to TRUSTORS
B, and shall execute the relevant subscription agreements.
 6.1.4)
    
    The TRUSTEE shall draft the works and investment plan.
 6.1.5)
    
    Contracting: The TRUSTEE shall hire such physical and/or legal persons as are required for
executing the works scheduled under the PROJECT. Any contract worth over USD 20,000 (twenty
thousand U.S. dollars) shall be awarded through open competition, for which no less than two
proposals shall be required, which shall be drafted pursuant to a uniform set of
specifications set out by the TRUSTEE. The TRUSTEE may accept price adjustment or
redetermination terms in such contracts pursuant to usual practice.
 6.1.6)
    
    The TRUSTEE may purchase such works insurance as it deems necessary to supplement the
insurance purchased by the hired companies pursuant to specifications set out by them.
 6.1.7)
    
    The TRUSTEE shall coordinate and supervise throughout the course of the project the
performance of all professionals, experts and suppliers involved so as to ensure compliance
with the projects terms, costs and quality requirements.
 6.1.8)
    
    The TRUSTEE shall draft the Condominium Regulations, appoint the chairman of the
Condominium Association and manage and coordinate together with the latter the commissioning
of the BUILDING.
 6.1.9)
    
    Until 1 year from delivery of 70% of the UNITS, the TRUSTEE shall coordinate and handle
complaints for defects filed against the responsible contractors.
 6.1.10)
    
    The TRUSTEE shall coordinate and request municipal work inspections.
 6.1.11)
    
    Reporting: The TRUSTEE shall convene a Regular Meeting of TRUSTORS every twelve months, to
report to them on the progress and to render an account of, its administration, provided
however that Special Meetings may also be convened.




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6.1.12)
    
    Non-encumbrance: The TRUSTEE may not encumber the PREMISES.6.1.13)
    
    Conveyance: Once the projected works have been completed and the condominium units plan and
Condominium
Regulations have been approved, the TRUSTEE shall allocate the UNITS to the respective
BENEFICIARIES. The BENEFICIARY-owner shall meet all expenses, and shall pay all costs, taxes
and fees incurred in the closing of the conveyance, and in registering the Condominium
Regulations.
 6.1.14)
    
    Delivery of UNITS: The TRUSTEE shall surrender possession of the UNITS unto the
BENEFICIARIES, who shall receive it, once the progress of the project is such that the
exercise of possession by the BENEFICIARIES at their discretion does not hinder completion of
the UNITS. For that purpose, the TRUSTEE shall send reliable notice of the date on which it
shall deliver the UNITS, provided however that the BENEFICIARIES may not rely on uncompleted
details to reject the UNITS if such uncompleted details do not prevent the unhindered use and
enjoyment of the UNITS. As from the date set out for delivery, the BENEFICIARIES must pay
their proportionate share of the common charges incurred and the taxes and other contributions
encumbering the UNITS which they acquire. Additionally, upon taking possession of the UNITS,
the BENEFICIARIES must make such contributions to the costs incurred in equipping and
decorating the BUILDINGs common areas in proportion to their ownership interests in the UNITS
they receive pursuant to the allocation of common charges set out in the Condominium
Regulations (or a draft thereof, if it has not yet been notarially recorded). If there are
enough funds in the Trust Fund, the TRUSTEE may advance such sums as are necessary to cover
said equipment and decoration expenses.
 6.2.
    
    Compensation: In consideration of its services, the TRUSTEE shall be paid USD 1,200,000 (one
million, two hundred thousand dollars) plus VAT. 75% of such payment (i.e., USD 900,000 +
VAT, nine hundred thousand U.S. dollars plus VAT) shall compensate its services as manager
and 25% (USD 300,000 + VAT, three hundred thousand U.S. dollars plus VAT) shall compensate
its services as trustee. The compensation shall be paid as follows: (a) USD 120,000 (one
hundred and twenty thousand U.S. dollars) plus VAT within fifteen days after TRUSTORS Bs
subscription to the trust; (b) the balance of USD 1,080,000 (one million, eighty thousand
U.S. dollars) plus VAT in 24 monthly, equal and consecutive part payments of USD 45,000
(forty five thousand U.S. dollars) plus VAT each; provided that the first part payment shall
be due on the 5thday of the due date of the payment set out in (a) above. The
compensation set out is included in the expense estimate contained in EXHIBIT 4. If the trust
terminates with the sale of the PREMISES for the reasons set out in the last paragraph of
Section THREE, TRUSTEEs total compensation shall be 4% (four percent) plus VAT of the profit
obtained by TRUSTORS A from the transaction, but shall be no less, even if it exceeds such
percentage, than USD 12,000 (twelve thousand U.S. dollars plus VAT). Such compensation shall
be paid before distributing the proceeds of the sale of the PREMISES between the TRUSTORS A.
 6.3.
    
    The TRUSTEE may call the BUILDING EDIFICIO INTECONS and to publicize such name on plaques
or in any other form on entrance halls, gardens, etc.,
provided the BUILDINGs crown belonging to the unit owners listed in Exhibit 5 is not altered.




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6.4.
    
    Liability: The TRUSTEE shall be solely responsible for any loss or claim arising out of its
negligent or willful actions or omissions, to the extent provided in Section 6 and 7 of Law
24,441.
 SEVEN: Termination of TRUSTEE
 7.1
    
    The TRUSTEE shall be terminated (a) by decision of the TRUSTEES at a Special Meeting
convened for such purpose, based on TRUSTEEs failure to perform its obligations, pursuant to
a majority vote of TRUSTORS representing no less than 70% (seventy percent) of the costs
exceeding those set out in Exhibit 4, and shall forfeit its right to receive any outstanding
compensation; (b) for any of the reasons set out in Section 9 of Law 24,441, except
TRUSTEEs resignation.
 7.2
    
    In the event any of the above conditions for termination is met, the TRUSTEE shall be
replaced by any such substitute trustee as is appointed by the TRUSTORS at a Special Meeting
convened for such purpose. In such event, the TRUSTEE shall render a final account and furnish
the TRUSTORS with any documents it has in connection with the AGREEMENT, and shall transfer
the TRUST PROPERTY to any such substitute trustee as the TRUSTORS designate in their sole
discretion, within a term not exceeding sixty days after notification of the decision to
substitute TRUSTEE, notwithstanding the liability for damages or losses which may arise for
TRUSTEE.
 EIGHT: The FIRM
 8.1.
    
    The Firm shall be responsible for:
 8.1.1)
    
    The executive project of architecture and coordination of structures and installations projects.8.1.2)
    
    Advising on the equipment for common areas.8.1.3)
    
    Coordinating the application for such municipal permits as the project requires.8.1.4)
    
    Reviewing and approving the samples and documents submitted by the contractors throughout the execution of the works.8.1.5)
    
    Controlling the contractors correct interpretation of the plans and technical documents of the architecture project.
 8.2.
    
    Compensation: In consideration of its services, the FIRM shall be paid USD 350,000 (three
hundred and fifty thousand U.S. dollars) plus VAT. Such amount has been or shall be paid as
follows:
 8.2.1)
    
    USD 105,000 (one hundred and five thousand U.S. dollars) plus VAT have been paid by the
Trust and by the owners of the PREMISES or holders of interests therein before April 10,
2008.
 8.2.2)
    
    The balance of USD 245,000 (two hundred and forty-five thousand U.S. dollars) plus VAT
within fifteen days as of the subscription of TRUSTORS B to the TRUST.




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8.2.3)
    
    The parties agree that the balance of the compensation set out above is included in the
estimate of expenses contained in EXHIBIT 4. If TRUSTORS B do not subscribe to the TRUST and
the trust is terminated with the sale of the PREMISES for the reasons set out in the last
paragraph of Section THREE, the FIRM shall not receive the balance set forth in 8.2.2 above.
 NINE: AUDITOR AND EXTERNAL AUDITOR
 9.1.
    
    AUDITOR:9.1.1)
    
    AUDITOR shall have such duties as are set out in section ONE subsection 13, and shall report on the TRUSTEEs rendering of accounts.
 9.1.2)
    
    AUDITORs total compensation shall be agreed with the TRUSTEE and shall be consistent with
current market conditions. If the AUDITOR must be replaced, the new auditor shall be chosen
by the TRUSTEE from among three candidates proposed by the TRUSTORS.
 9.2.
    
    EXTERNAL AUDITOR:
 9.2.1)
    
    The external auditor shall have such duties as are set out in Section ONE, subsection 17.9.2.2)
    
    The EXTERNAL AUDITORs total compensation shall be agreed with the TRUSTEE and be consistent
with current market conditions. If the EXTERNAL AUDITOR must be replaced, the new external auditor
shall be chosen by the TRUSTORS.
 TEN: Notaries Public
 10.1.
    
    The transaction shall be notarially recorded by MASCHWITZ-DEL CAMPO Notaries Public, with
offices at Tucumán 715, piso 6°, City of Buenos Aires, and shall be responsible for:
 10.1.1)
    
    Notarizing the AGREEMENT and the TRUSTORS Bs subscription contracts.
 10.1.2)
    
    Transcribing and notarially recording the AGREEMENT and stating all personal details of
TRUSTORS who have subscribed to the trust, issuing certified photocopies for the TRUSTEE and
each of the TRUSTORS.
 10.1.3)
    
    Notarially recording the TRUSTEEs purchase of the 80% undivided interest in the PREMISES
and performing all prior tasks entailed in such purchase.
 10.1.4)
    
    Acting as escrow agent until the termination of the TRUST holding the following documents:
the AGREEMENT, the TRUSTORS Bs subscription agreements, and notarial transcripts of the
notarially recorded title deeds of the PREMISES.




---



##### 



10.1.5)
    
    Drafting and issuing the notarially recorded instruments of constitution of condominium,
Condominium Regulations and allocation of UNITS to the TRUSTORS.
 10.2.
    
    The total and only compensation to be paid to the Notaries Public shall break down as
follows:
 10.2.1)
    
    for the professional services set out in sections 10.1.1) to 10.1.4) above (including
title search), USD 5,000 (five thousand U.S. dollars) plus VAT. The Notaries Public shall
also include in their invoice to the TRUST the following items:
 10.2.1)A.
    
    50% of the applicable Stamp Tax.
 10.2.1)B.
    
    Registration fees.
 10.2.1)C.
    
    Withholding of tax imposed on bank transfers under Law 25,413 in connection with the
amounts resulting from sections 10.2.1)A. and 10.2.1)B above.
 10.2.1)D.
    
    Deed duties (amount proportionate to the deed value of 80% of the PREMISES).
 10.2.1)E.
    
    Stamps, original notarial record, notarial transcript, deed duties (fixed amount)
and registration cards costs.
 10.2.2)
    
    For the professional services set out in 10.1.5) above, 0.5% (point five percent) of the
amount by which each TRUSTOR contributes to the total cost, plus the applicable VAT. Such
amount shall be paid, together with the expenses and applicable taxes, by the TRUSTORS at the
time of the notarial recording of the allocation of their respective UNITS or the allocation
in joint ownership in the case set out in TWELVE below. For calculating such value, the
amounts paid by the TRUSTORS in Argentine currency shall be translated into U.S. dollars at
the Argentine Central Bank rate (ask quote) of the date on which each contribution is made.
The TRUSTEE shall make such calculation and communicate it to the BENEFICIARIES and to
MASCHWITZ-DEL CAMPO Notaries.
 ELEVEN: Defects
 Since the TRUSTEE is neither the seller nor constructor of the BUILDING or the UNITS, it assumes no
liability for construction defects as against the TRUSTORS and BENEFICIARIES, who shall state their
claims directly to the responsible contractors. To that end, the TRUSTEE shall furnish the
BENEFICIARIES with a list of such contractors at the time of the allocation of units.
 TWELVE: Expiration of term  Extension
 Upon the expiration of the effective term of the AGREEMENT, and of the automatic extension
provided for in section THREE, the TRUSTEE shall convene a Meeting of TRUSTORS to discuss a term
extension if the purpose of the AGREEMENT has not been fulfilled within the maximum agreed
term. If no agreement is reached, the AGREEMENT shall be deemed expired, in which case the TRUSTEE
shall surrender possession of, and convey, the PREMISES to the TRUSTORS, furnishing such
instruments and land registration certificates as are applicable pursuant to Section 26, of
Law 24,441. The PREMISES shall be conveyed to the TRUSTORS as joint owners pursuant to each
TRUSTORs share in the costs exceeding those stated in Exhibit 4. After the term of AGREEMENT has
expired and its purpose has been fulfilled in whole, if a balance remains in the TRUST FUND, it
shall be distributed among the TRUSTORS in proportion to their contributions.




---



##### 



THIRTEEN: Bodies of the TRUST. End of Fiscal Year.
 13.1.
    
    Regular Meetings: Regular Meetings of TRUSTORS shall be convened no less than once every
twelve months so that the TRUSTEE renders an account of its administration. Notices shall be
served at the domicile of each TRUSTOR by certified mail, stating the date, place and time of
the meeting (business days and hours within the city of Buenos Aires) and the order of
business to be transacted.
 13.2.
    
    Quorum: Meetings shall commence at the time for which they are convened with the presence
of a majority of TRUSTORS pursuant to the interest percentages set out for each of them in
EXHIBITS 4 and 5 over the costs exceeding those stated in Exhibit 4, or half an hour later
with any number of TRUSTORS. Meetings shall be presided over by the President of the TRUSTEE
or its representative.
 13.3.
    
    Special Meetings: Special Meetings shall take place when convened at the instance of the
TRUSTEE or by request of such number of TRUSTORS as represents no less than a 30% interest in
the costs exceeding those set out in Exhibit 4. These Meetings shall be governed by the same
rules as govern Regular Meetings.
 13.4.
    
    Majority requirements: Except as otherwise required in the AGREEMENT, resolutions in both
types of Meetings shall be validly adopted by a plurality of the votes present, each 0.10%
(point ten percent) interest in the costs exceeding those set out in Exhibit 4 representing
one vote. TRUSTORS in default shall have no right to vote at a Meeting nor shall they count
for the quorum requirements.
 13.5.
    
    Amendments to the Agreement: Any amendment to the Agreement shall be decided at a Special
Meeting by a majority of trustors representing 70% of the votes present.
 13.6.
    
    Closing of Fiscal Year: Each Fiscal Year shall close on December 31.




---



##### 



FOURTEEN: Domicile and Jurisdiction
 For all legal purposes of this AGREEMENT, the parties set their special domiciles at the address
stated by each in the heading. Any dispute arising out of the execution of the AGREEMENT shall be
decided by the General Arbitration Tribunal of the Buenos Aires Stock Exchange. In that
connection, the parties accept in whole the Rules of such Tribunal. In witness whereof, the
parties execute this AGREEMENT, which shall be kept by the TRUSTEE, who shall cause it to be
recorded by a notary public. Once the AGREEMENT is notarially recorded, the TRUSTEE shall request
certified copies thereof to distribute among the TRUSTORS. This AGREEMENT is executed in the place
and on the date stated above.
 Annexes
 Annex I  Plans, detail of parking spaces corresponding to each floor, technical specifications of
the building (Annex has been omitted and will be provided upon request)
 Annex II  List of each floor and its respective parking spaces and other complementary spaces
(Annex has been omitted and will be provided upon request)
 Annex III  Initial contribution made by participants class A (including name of the participants,
amounts to be contributed and prospective dates for each contribution) (Annex has been omitted and
will be provided upon request)
 Annex IV  Detail and amount of estimated costs to be borne by participants class B
 Annex V  Percentage of the amounts exceeding estimated costs to be borne by participants class A
(Annex has been omitted and will be provided upon request)
 Annex VI  Plan (Annex has been omitted and will be provided upon request)




---



##### 



Arias
Trust Agreement  Exhibit IV  Estimated costs to be afforded by
Trustors B
 Fixed Amounts in USD
    
    
    
    
    
    
    Ratio in19,4193%
    
    
    Amount in Argentine
    
    
    relation toProcurement in
    
    
    
    
    
    
    afforded by
    
    
    Pesos subject to
    
    
    TotalItem
    
    Total (USD)
    
    
    USD
    
    
    Storage
    
    
    trustor A
    
    
    adjustments (USD)
    
    
    AmountLandLand payment and improvements by Trustors A
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    %80% Purchase Expenses and filing Expenses
    
    
    62,400.00
    
    
    
    62,400.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.20
    %Total Land
    
    
    62,400.00
    
    
    
    62,400.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.20
    %Construction CostsMain Contractor
    
    
    15,000,000.00
    
    
    
    750,000.00
    
    
    
    3,562,500.00
    
    
    
    2,075,437.69
    
    
    
    8,612,062.31
    
    
    
    48.43
    %Main Supplementary Works
    
    
    810,000.00
    
    
    
    40,500.00
    
    
    
    269,325.00
    
    
    
    97,130.48
    
    
    
    403,044.52
    
    
    
    2.61
    %Facade and Exterior Structural Works
    
    
    3,183,627.76
    
    
    
    159,181.39
    
    
    
    907,333.91
    
    
    
    411,128.42
    
    
    
    1,705,984.04
    
    
    
    10.28
    %Metal Works
    
    
    283,911.67
    
    
    
    42,586.75
    
    
    
    108,596.21
    
    
    
    25,774.99
    
    
    
    106,953.72
    
    
    
    0.92
    %Elevators
    
    
    1,150,828.19
    
    
    
    805,579.73
    
    
    
    0.00
    
    
    
    67,044.83
    
    
    
    278,203.62
    
    
    
    3.72
    %Air Conditioning Equipment and Installation
    
    
    2,000,567.82
    
    
    
    1,432,406.56
    
    
    
    0.00
    
    
    
    110,332.94
    
    
    
    457,828.32
    
    
    
    6.46
    %Painting
    
    
    95,000.00
    
    
    
    0.00
    
    
    
    19,000.00
    
    
    
    14,758.67
    
    
    
    61,241.33
    
    
    
    0.31
    %Small Current (CCTV/DETECC /C.ACC/MONIT)
    
    
    60,000.00
    
    
    
    36,000.00
    
    
    
    0.00
    
    
    
    4,660.63
    
    
    
    19,339.37
    
    
    
    0.19
    %Internal Telephone Lines
    
    
    20,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    3,883.86
    
    
    
    16,116.14
    
    
    
    0.06
    %Wood Works
    
    
    100,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    19,419.30
    
    
    
    80,580.70
    
    
    
    0.32
    %Iron Fittings
    
    
    50,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    9,709.65
    
    
    
    40,290.35
    
    
    
    0.16
    %Glasses and Mirrors
    
    
    30,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    5,825.79
    
    
    
    24,174.21
    
    
    
    0.10
    %Generating Set
    
    
    100,000.00
    
    
    
    70,000.00
    
    
    
    0.00
    
    
    
    5,825.79
    
    
    
    24,174.21
    
    
    
    0.32
    %Ground Floor Hall Finishing Works
    
    
    100,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    19,419.30
    
    
    
    80,580.70
    
    
    
    0.32
    %Exterior Works
    
    
    50,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    9,709.65
    
    
    
    40,290.35
    
    
    
    0.16
    %Lighting
    
    
    80,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    15,535.44
    
    
    
    64,464.56
    
    
    
    0.26
    %Miscellaneous
    
    
    259,228.66
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    50,340.39
    
    
    
    208,888.27
    
    
    
    0.84
    %Total Construction Cost
    
    
    23,373,164.10
    
    
    
    3,336,254.43
    
    
    
    4,866,755.13
    
    
    
    2,945,937.82
    
    
    
    12,224,216.72
    
    
    
    75.46
    %FeesArchitectural Project Balance (MSGSSS)
    
    
    245,000.00
    
    
    
    245,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.79
    %Business Development and Trustee (Intecons)
    
    
    300,000.00
    
    
    
    300,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.97
    %Technical and Administrative Management (Intecons)
    
    
    900,000.00
    
    
    
    900,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    2.91
    %Experts, miscellaneous
    
    
    25,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    4,854.83
    
    
    
    20,145.18
    
    
    
    0.08
    %Total Professional Fees
    
    
    1,470,000.00
    
    
    
    1,445,000.00
    
    
    
    0.00
    
    
    
    4,854.83
    
    
    
    20,145.18
    
    
    
    4.75
    %TaxesVAT, Fiscal Credit
    
    
    5,228,874.86
    
    
    
    1,005,373.83
    
    
    
    1,022,018.58
    
    
    
    621,705.48
    
    
    
    2,579,776.97
    
    
    
    16.88
    %VAT, Payment to AFIP (Argentine Tax Authority)
    
    
    125,921.71
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    125,921.71
    
    
    
    0.41
    %Presumed Minimun Income
    
    
    358,546.10
    
    
    
    67,703.18
    
    
    
    68,163.24
    
    
    
    41,464.47
    
    
    
    181,215.22
    
    
    
    1.16
    %Tax on Bank Transactions
    
    
    306,689.07
    
    
    
    59,167.31
    
    
    
    59,569.37
    
    
    
    36,236.72
    
    
    
    151,715.66
    
    
    
    0.99
    %Total Taxes
    
    
    6,020,031.74
    
    
    
    1,132,244.32
    
    
    
    1,149,751.18
    
    
    
    699,406.67
    
    
    
    3,038,629.56
    
    
    
    19.43
    %MiscellaneousInsurance and others
    
    
    50,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    9,709.65
    
    
    
    40,290.35
    
    
    
    0.16
    %Total Miscellaneous
    
    
    50,000.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    9,709.65
    
    
    
    40,290.35
    
    
    
    0.16
    %Total Estimated Cost
    
    
    30,975,595.84
    
    
    
    5,975,898.75
    
    
    
    6,016,506.31
    
    
    
    3,659,908.97
    
    
    
    15,323,281.81
    
    
    
    100.00
    %(Fixed and Variable) Cost Percentages
    
    
    100.00
    %
    
    
    
    
    
    
    50.53
    %
    
    
    
    
    
    
    49.47
    %
 All amounts in US dollars
Bidding or estimated amounts as of 04/01/2008




---



##### 



Arias Trust Agreement  Exhibit IV  Estimated Costs and share percentages on costs and increase
 Total Estimated Costs
    
    
    ShareOffice
    
    
    Parking
    
    
    Total
    
    
    
    
    
    
    Estimated
    
    
    
    
    
    
    On
    
    
    On Initial
    
    
    Location of ParkingBathrooms
    
    
    
    
    
    
    
    
    
    
    Spaces
    
    
    Private
    
    
    Estimated
    
    
    VAT
    
    
    Estimated
    
    
    Budget
    
    
    Costs of
    
    
    SpacesCarpet
    
    
    and Office
    
    
    
    
    
    
    Total
    
    
    # of
    
    
    Area
    
    
    Area
    
    
    Initial Cost
    
    
    (18,8292%)
    
    
    Initial Cost
    
    
    B
    
    
    Trustor
    
    
    Cars on 1st
    
    
    Cars on 2ndPercentage
Trustor B
    
    Floor
    
    Location
    
    (m2)
    
    
    (m2)
    
    
    Rooftop
    
    
    Area
    
    
    Cars
    
    
    (m2)
    
    
    (m2)
    
    
    (USD)
    
    
    in USD
    
    
    (USD)
    
    
    Increase
    
    
    B
    
    
    Basement
    
    
    Basement100.0000
    %
    
    2
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,611,500
    
    
    
    303,433
    
    
    
    1,914,933
    
    
    
    4.9816
    %
    
    
    6.1821
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    3
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,629,500
    
    
    
    306,823
    
    
    
    1,936,323
    
    
    
    5.0372
    %
    
    
    6.2511
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    4
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,647,500
    
    
    
    310,212
    
    
    
    1,957,712
    
    
    
    5.0928
    %
    
    
    6.3202
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    5
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,665,500
    
    
    
    313,601
    
    
    
    1,979,101
    
    
    
    5.1485
    %
    
    
    6.3892
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    6
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,683,500
    
    
    
    316,990
    
    
    
    2,000,490
    
    
    
    5.2041
    %
    
    
    6.4583
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    7
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,701,500
    
    
    
    320,380
    
    
    
    2,021,880
    
    
    
    5.2598
    %
    
    
    6.5273
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    8
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,719,500
    
    
    
    323,769
    
    
    
    2,043,269
    
    
    
    5.3154
    %
    
    
    6.5964
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    9
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,737,500
    
    
    
    327,158
    
    
    
    2,064,658
    
    
    
    5.3711
    %
    
    
    6.6654
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    10
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    14
    
    
    
    168
    
    
    
    1,068
    
    
    
    1,755,500
    
    
    
    330,547
    
    
    
    2,086,047
    
    
    
    5.4267
    %
    
    
    6.7345
    %
    
    
    5
    
    
    
    9100.0000
    %
    
    11
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    16
    
    
    
    192
    
    
    
    1,092
    
    
    
    1,789,000
    
    
    
    336,855
    
    
    
    2,125,855
    
    
    
    5.5303
    %
    
    
    6.8630
    %
    
    
    6
    
    
    
    10100.0000
    %
    
    12
    
    Complete
    
    
    830
    
    
    
    70
    
    
    
    
    
    
    
    900
    
    
    
    16
    
    
    
    192
    
    
    
    1,092
    
    
    
    1,802,500
    
    
    
    339,397
    
    
    
    2,141,897
    
    
    
    5.5720
    %
    
    
    6.9148
    %
    
    
    6
    
    
    
    10100.0000
    %
    
    13
    
    NW
    
    
    300
    
    
    
    25
    
    
    
    167
    
    
    
    492
    
    
    
    6
    
    
    
    72
    
    
    
    564
    
    
    
    739,786
    
    
    
    139,296
    
    
    
    879,082
    
    
    
    2.2869
    %
    
    
    2.8380
    %
    
    
    2
    
    
    
    4100.0000
    %
    
    
    
    SE
    
    
    230
    
    
    
    25
    
    
    
    204
    
    
    
    459
    
    
    
    4
    
    
    
    48
    
    
    
    507
    
    
    
    607,026
    
    
    
    114,298
    
    
    
    721,325
    
    
    
    1.8765
    %
    
    
    2.3287
    %
    
    
    2
    
    
    
    2100.0000
    %
    
    14
    
    NW
    
    
    300
    
    
    
    25
    
    
    
    
    
    
    
    325
    
    
    
    6
    
    
    
    72
    
    
    
    397
    
    
    
    651,500
    
    
    
    122,673
    
    
    
    774,173
    
    
    
    2.0140
    %
    
    
    2.4993
    %
    
    
    2
    
    
    
    4100.0000
    %
    
    
    
    SE
    
    
    230
    
    
    
    25
    
    
    
    
    
    
    
    255
    
    
    
    4
    
    
    
    48
    
    
    
    303
    
    
    
    509,200
    
    
    
    95,879
    
    
    
    605,079
    
    
    
    1.5741
    %
    
    
    1.9534
    %
    
    
    2
    
    
    
    2100.0000
    %
    
    15
    
    NW
    
    
    300
    
    
    
    25
    
    
    
    
    
    
    
    325
    
    
    
    6
    
    
    
    72
    
    
    
    397
    
    
    
    661,250
    
    
    
    124,508
    
    
    
    785,758
    
    
    
    2.0441
    %
    
    
    2.5367
    %
    
    
    2
    
    
    
    4100.0000
    %
    
    
    
    SE
    
    
    230
    
    
    
    25
    
    
    
    
    
    
    
    255
    
    
    
    4
    
    
    
    48
    
    
    
    303
    
    
    
    516,850
    
    
    
    97,319
    
    
    
    614,169
    
    
    
    1.5977
    %
    
    
    1.9828
    %
    
    
    2
    
    
    
    2100.0000
    %
    
    16
    
    NW
    
    
    300
    
    
    
    25
    
    
    
    
    
    
    
    325
    
    
    
    6
    
    
    
    72
    
    
    
    397
    
    
    
    671,000
    
    
    
    126,344
    
    
    
    797,344
    
    
    
    2.0742
    %
    
    
    2.5741
    %
    
    
    2
    
    
    
    4100.0000
    %
    
    
    
    SE
    
    
    230
    
    
    
    25
    
    
    
    
    
    
    
    255
    
    
    
    4
    
    
    
    48
    
    
    
    303
    
    
    
    524,500
    
    
    
    98,759
    
    
    
    623,259
    
    
    
    1.6214
    %
    
    
    2.0121
    %
    
    
    2
    
    
    
    2100.0000
    %
    
    17
    
    NW
    
    
    300
    
    
    
    25
    
    
    
    
    
    
    
    325
    
    
    
    6
    
    
    
    72
    
    
    
    397
    
    
    
    680,750
    
    
    
    128,180
    
    
    
    808,930
    
    
    
    2.1044
    %
    
    
    2.6115
    %
    
    
    2
    
    
    
    4100.0000
    %
    
    
    
    SE
    
    
    230
    
    
    
    25
    
    
    
    
    
    
    
    255
    
    
    
    4
    
    
    
    48
    
    
    
    303
    
    
    
    532,150
    
    
    
    100,200
    
    
    
    632,350
    
    
    
    1.6450
    %
    
    
    2.0414
    %
    
    
    2
    
    
    
    224.6983
    %
    
    18
    
    NW
    
    
    300
    
    
    
    25
    
    
    
    
    
    
    
    325
    
    
    
    6
    
    
    
    72
    
    
    
    397
    
    
    
    170,542
    
    
    
    32,112
    
    
    
    202,654
    
    
    
    0.5272
    %
    
    
    0.6542
    %
    
    
    2
    
    
    
    4100.0000
    %
    
    
    
    SE
    
    
    230
    
    
    
    25
    
    
    
    
    
    
    
    255
    
    
    
    4
    
    
    
    48
    
    
    
    303
    
    
    
    539,800
    
    
    
    101,640
    
    
    
    641,440
    
    
    
    1.6687
    %
    
    
    2.0708
    %
    
    
    2
    
    
    
    294.9790
    %
    
    20
    
    SE
    
    
    230
    
    
    
    25
    
    
    
    
    
    
    
    255
    
    
    
    4
    
    
    
    48
    
    
    
    303
    
    
    
    519,963
    
    
    
    97,905
    
    
    
    617,868
    
    
    
    1.6073
    %
    
    
    1.9947
    %
    
    
    2
    
    
    
    2Total
Trustors B
    
    
    
    12,303
    
    
    
    1,075
    
    
    
    371
    
    
    
    13,697
    
    
    
    217
    
    
    
    2,607
    
    
    
    16,305
    
    
    
    26,067,317
    
    
    
    4,908,279
    
    
    
    30,975,596
    
    
    
    80.5807
    %
    
    
    100.0000
    %
    
    
    83
    
    
    
    139




---



##### 



Arias Trust Agreement  Exhibit IV  Trustors B Payment Schedule per unit
 Payment schedule20 installmentsAdvance
    
    
    (4% each) - 1stPayment
    
    
    installement(18%) as of
    
    
    becomes duePercentage
    
    Office
    
    
    Reservation
    
    
    the execution of the
    
    
    after 30 days from
    
    
    Total EstimatedTrustor B
    
    Floor
    
    Location
    
    
    (2%)
    
    
    agreement
    
    
    Advance Payment
    
    
    Initial Payment100.0000
    %
    
    2
    
    Complete
    
    U$S
    38,298.67
    
    
    U$S
    344,687.99
    
    
    U$S
    76,597.33
    
    
    U$S
    1,914,933.29100.0000
    %
    
    3
    
    Complete
    
    U$S
    38,726.45
    
    
    U$S
    348,538.06
    
    
    U$S
    77,452.90
    
    
    U$S
    1,936,322.55100.0000
    %
    
    4
    
    Complete
    
    U$S
    39,154.24
    
    
    U$S
    352,388.13
    
    
    U$S
    78,308.47
    
    
    U$S
    1,957,711.82100.0000
    %
    
    5
    
    Complete
    
    U$S
    39,582.02
    
    
    U$S
    356,238.19
    
    
    U$S
    79,164.04
    
    
    U$S
    1,979,101.08100.0000
    %
    
    6
    
    Complete
    
    U$S
    40,009.81
    
    
    U$S
    360,088.26
    
    
    U$S
    80,019.61
    
    
    U$S
    2,000,490.34100.0000
    %
    
    7
    
    Complete
    
    U$S
    40,437.59
    
    
    U$S
    363,938.33
    
    
    U$S
    80,875.18
    
    
    U$S
    2,021,879.61100.0000
    %
    
    8
    
    Complete
    
    U$S
    40,865.38
    
    
    U$S
    367,788.40
    
    
    U$S
    81,730.75
    
    
    U$S
    2,043,268.87100.0000
    %
    
    9
    
    Complete
    
    U$S
    41,293.16
    
    
    U$S
    371,638.46
    
    
    U$S
    82,586.33
    
    
    U$S
    2,064,658.14100.0000
    %
    
    10
    
    Complete
    
    U$S
    41,720.95
    
    
    U$S
    375,488.53
    
    
    U$S
    83,441.90
    
    
    U$S
    2,086,047.40100.0000
    %
    
    11
    
    Complete
    
    U$S
    42,517.10
    
    
    U$S
    382,653.94
    
    
    U$S
    85,034.21
    
    
    U$S
    2,125,855.20100.0000
    %
    
    12
    
    Complete
    
    U$S
    42,837.94
    
    
    U$S
    385,541.49
    
    
    U$S
    85,675.89
    
    
    U$S
    2,141,897.15100.0000
    %
    
    13
    
    NW
    
    U$S
    17,581.65
    
    
    U$S
    158,234.85
    
    
    U$S
    35,163.30
    
    
    U$S
    879,082.48100.0000
    %
    
    
    
    SE
    
    U$S
    14,426.49
    
    
    U$S
    129,838.45
    
    
    U$S
    28,852.99
    
    
    U$S
    721,324.70100.0000
    %
    
    14
    
    NW
    
    U$S
    15,483.45
    
    
    U$S
    139,351.06
    
    
    U$S
    30,966.90
    
    
    U$S
    774,172.53100.0000
    %
    
    
    
    SE
    
    U$S
    12,101.57
    
    
    U$S
    108,914.13
    
    
    U$S
    24,203.14
    
    
    U$S
    605,078.52100.0000
    %
    
    15
    
    NW
    
    U$S
    15,715.17
    
    
    U$S
    141,436.51
    
    
    U$S
    31,430.34
    
    
    U$S
    785,758.38100.0000
    %
    
    
    
    SE
    
    U$S
    12,283.38
    
    
    U$S
    110,550.41
    
    
    U$S
    24,566.76
    
    
    U$S
    614,168.95100.0000
    %
    
    16
    
    NW
    
    U$S
    15,946.88
    
    
    U$S
    143,521.96
    
    
    U$S
    31,893.77
    
    
    U$S
    797,344.24100.0000
    %
    
    
    
    SE
    
    U$S
    12,465.19
    
    
    U$S
    112,186.69
    
    
    U$S
    24,930.38
    
    
    U$S
    623,259.39100.0000
    %
    
    17
    
    NW
    
    U$S
    16,178.60
    
    
    U$S
    145,607.42
    
    
    U$S
    32,357.20
    
    
    U$S
    808,930.09100.0000
    %
    
    
    
    SE
    
    U$S
    12,647.00
    
    
    U$S
    113,822.97
    
    
    U$S
    25,293.99
    
    
    U$S
    632,349.8324.6983
    %
    
    18
    
    NW
    
    U$S
    4,053.07
    
    
    U$S
    36,477.64
    
    
    U$S
    8,106.14
    
    
    U$S
    202,653.58100.0000
    %
    
    
    
    SE
    
    U$S
    12,828.81
    
    
    U$S
    115,459.25
    
    
    U$S
    25,657.61
    
    
    U$S
    641,440.2794.9790
    %
    
    20
    
    SE
    
    U$S
    12,357.35
    
    
    U$S
    111,216.16
    
    
    U$S
    24,714.70
    
    
    U$S
    617,867.56Total
Trustors B
    
    
    
    
    
    
    U$S
    619,512
    
    
    U$S
    5,575,607
    
    
    U$S
    24,780,477
    
    
    U$S
    30,975,595.96




---



##### 



Arias Trust Agreement  Exhibit IV  Estimated Expense Flow
 Report Date
    
    04/01/2008
    
    Exchange Rate ($/U$S)
    
    
    3.16
 Expenses
    
    Budget
    
    
    Apr-08
    
    
    may-08
    
    
    jun-08
    
    
    jul-08
    
    
    Aug-08
    
    
    sep-08
    
    
    oct-08
    
    
    nov-08
    
    
    Dec-08
    
    
    Jan-09
    
    
    feb-09
    
    
    mar-09
    
    
    Apr-09Construction beginsLandSeller
    
    USS
    0.00Purchase and Filing Expenses
    
    USS
    62,400.00
    
    
    
    62,400.00Total Land
    
    USS
    62,400.00
    
    
    
    62,400.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00Construction CostPaid Storage
    
    USS
    3,944,221.44
    
    
    
    
    
    
    
    3,944,221.44Certifications less guarantee withholdings
    
    USS
    19,428,942.66
    
    
    
    
    
    
    
    
    
    
    
    701,194.92
    
    
    
    701,194.92
    
    
    
    701,194.92
    
    
    
    701,194.92
    
    
    
    993,359.47
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    1,051,792.38
    
    
    
    1,168,658.21Total Construction Cost
    
    USS
    23,373,164.10
    
    
    
    0.00
    
    
    
    3,944,221.44
    
    
    
    701,194.92
    
    
    
    701,194.92
    
    
    
    701,194.92
    
    
    
    701,194.92
    
    
    
    993,359.47
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    1,051,792.38
    
    
    
    1,168,658.21Professional FeesM.SG.S.S.S Architecture Firm
    
    USS
    245,000.00
    
    
    
    
    
    
    
    245,000.00Intecons (Trust Administration and Technical
Management)
    
    USS
    1,200,000.00
    
    
    
    
    
    
    
    120,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00Total Professional Fees
    
    USS
    1,445,000.00
    
    
    
    0.00
    
    
    
    365,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00TaxesVAT Fiscal Credit
    
    USS
    5,228,874.86
    
    
    
    1,940.40
    
    
    
    905,566.50
    
    
    
    157,330.93
    
    
    
    157,330.93
    
    
    
    157,330.93
    
    
    
    157,330.93
    
    
    
    218,685.49
    
    
    
    206,414.58
    
    
    
    206,414.58
    
    
    
    206,414.58
    
    
    
    206,414.58
    
    
    
    230,956.40
    
    
    
    255,498.22VAT Payment to AFIP (Argentine Tax Authority)
    
    USS
    125,921.71
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00Gross Income Tax
    
    USS
    0.00
    
    
    
    
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00Stamp Tax
    
    USS
    0.00Presumed Minimun Income
    
    USS
    358,546.10
    
    
    
    360.76
    
    
    
    360.76
    
    
    
    531.62
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09
    
    
    
    409.09Tax on Bank Transactions
    
    USS
    306,689.07
    
    
    
    677.01
    
    
    
    52,181.49
    
    
    
    9,070.57
    
    
    
    9,069.35
    
    
    
    9,069.35
    
    
    
    9,069.35
    
    
    
    12,604.54
    
    
    
    11,897.50
    
    
    
    11,897.50
    
    
    
    11,897.50
    
    
    
    11,897.50
    
    
    
    13,311.58
    
    
    
    14,725.66Total Taxes
    
    USS
    6,020,031.74
    
    
    
    2,978.17
    
    
    
    958,108.75
    
    
    
    166,933.13
    
    
    
    166,809.37
    
    
    
    166,809.37
    
    
    
    166,809.37
    
    
    
    231,699.12
    
    
    
    218,721.17
    
    
    
    218,721.17
    
    
    
    218,721.17
    
    
    
    218,721.17
    
    
    
    244,677.07
    
    
    
    270,632.97Miscellaneous
    
    USS
    75,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00Total Expenses
    
    USS
    30,975,595.84
    
    
    
    68,378.17
    
    
    
    5,270,330.19
    
    
    
    916,128.05
    
    
    
    916,004.30
    
    
    
    916,004.30
    
    
    
    916,004.30
    
    
    
    1,273,058.60
    
    
    
    1,201,647.74
    
    
    
    1,201,647.74
    
    
    
    1,201,647.74
    
    
    
    1,201,647.74
    
    
    
    1,344,469.45
    
    
    
    1,487,291.17Total Accummulated Expenses
    
    USS
    30,975,595.84
    
    
    
    68,378
    
    
    
    5,338,708
    
    
    
    6,254,836
    
    
    
    7,170,841
    
    
    
    8,086,845
    
    
    
    9,002,849
    
    
    
    10,275,908
    
    
    
    11,477,556
    
    
    
    12,679,203
    
    
    
    13,880,851
    
    
    
    15,082,499
    
    
    
    16,426,968
    
    
    
    17,914,259
 Expenses
    
    Budget
    
    
    may-09
    
    
    jun-09
    
    
    jul-09
    
    
    ago-09
    
    
    sep-09
    
    
    oct-09
    
    
    nov-09
    
    
    dic-09
    
    
    ene-10
    
    
    feb-10
    
    
    mar-10
    
    
    abr-10
    
    
    may-10
    
    
    SubtotalFin obraLandSeller
    
    USS
    0.00
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.00Purchase and Filing Expenses
    
    USS
    62,400.00
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    62,400.00Ttoal Land
    
    USS
    62,400.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    62,400.00Construction CostPaid Sorage
    
    USS
    3,944,221.44
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    3,944,221.44Certifications less guarantee withholdings
    
    USS
    19,428,942.66
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    1,051,792.38
    
    
    
    1,051,792.38
    
    
    
    1,168,658.21
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    788,844.29
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    19,428,942.66Total Construction Cost
    
    USS
    23,373,164.10
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    1,051,792.38
    
    
    
    1,051,792.38
    
    
    
    1,168,658.21
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    934,926.56
    
    
    
    788,844.29
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    23,373,164.10Professional FeesM.SG.S.S.S Architecture Firm
    
    USS
    245,000.00
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    245,000.00Intecons (Trust Administration and Technical Management)
    
    USS
    1,200,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    1,200,000.00Total Professional Fees
    
    USS
    1,445,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    45,000.00
    
    
    
    1,445,000.00TaxesVAT Fiscal Credit
    
    USS
    5,228,874.86
    
    
    
    206,414.58
    
    
    
    206,414.58
    
    
    
    206,414.58
    
    
    
    230,956.40
    
    
    
    230,956.40
    
    
    
    255,498.22
    
    
    
    206,414.58
    
    
    
    206,309.58
    
    
    
    206,309.58
    
    
    
    175,632.30
    
    
    
    9,975.00
    
    
    
    9,975.00
    
    
    
    9,975.00
    
    
    
    5,228,874.86VAT Payment to AFIP (Argentine Tax Authority)
    
    USS
    125,921.71
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    125,921.71
    
    
    
    125,921.71Gross Income Tax
    
    USS
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00
    
    
    
    0.00Stamp Tax
    
    USS
    0.00
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.00Presumed Minimun Income
    
    USS
    358,546.10
    
    
    
    409.09
    
    
    
    111,260.58
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    10,611.04
    
    
    
    135,422.01
    
    
    
    358,546.10Tax on Bank Transactions
    
    USS
    306,689.07
    
    
    
    11,897.50
    
    
    
    13,006.02
    
    
    
    11,999.52
    
    
    
    13,413.60
    
    
    
    13,413.60
    
    
    
    14,827.67
    
    
    
    11,999.52
    
    
    
    11,993.47
    
    
    
    11,993.47
    
    
    
    10,225.88
    
    
    
    680.86
    
    
    
    680.86
    
    
    
    3,188.19
    
    
    
    306,689.07Total Taxes
    
    USS
    6,020,031.74
    
    
    
    218,721.17
    
    
    
    330,681.18
    
    
    
    229,025.14
    
    
    
    254,981.04
    
    
    
    254,981.04
    
    
    
    280,936.93
    
    
    
    229,025.14
    
    
    
    228,914.09
    
    
    
    228,914.09
    
    
    
    196,469.21
    
    
    
    21,266.90
    
    
    
    21,266.90
    
    
    
    274,506.91
    
    
    
    6,020,031.74Miscellaneous
    
    USS
    75,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    3,000.00
    
    
    
    2,500.00
    
    
    
    2,500.00
    
    
    
    2,500.00
    
    
    
    2,500.00
    
    
    
    2,500.00
    
    
    
    2,500.00
    
    
    
    75,000.00Total Expenses
    
    USS
    30,975,595.84
    
    
    
    1,201,647.74
    
    
    
    1,313,607.74
    
    
    
    1,211,951.70
    
    
    
    1,354,773.42
    
    
    
    1,354,773.42
    
    
    
    1,497,595.14
    
    
    
    1,211,951.70
    
    
    
    1,211,340.65
    
    
    
    1,211,340.65
    
    
    
    1,032,813.50
    
    
    
    68,766.90
    
    
    
    68,766.90
    
    
    
    322,006.91
    
    
    
    30,975,595.84Total Accumulated Expenes
    
    USS
    30,975,595.84
    
    
    
    19,115,907
    
    
    
    20,429,515
    
    
    
    21,641,467
    
    
    
    22,996,240
    
    
    
    24,351,013
    
    
    
    25,848,609
    
    
    
    27,060,560
    
    
    
    28,271,901
    
    
    
    29,483,242
    
    
    
    30,516,055
    
    
    
    30,584,822
    
    
    
    30,653,589
    
    
    
    30,975,596