Document:

DATE :

	
15th August 1999

 

REF. :

M/s. City Mix Concrete P.O. Box 47427

Abu Dhabi

Attention of Mr. Radulovic 

Dear Sir,

 

Re : Account No.4202-123043-001

 

With reference to your letter dated 5th August, 1999 and further to our discussions, we are pleased to advise you that the following facility has been approved in your favour.

 

	
Facility

	
Amount

	
Rate of Interest

 

Loan                                     AED.3,900,000/-         10.5% p.a. 

Security

 

	
•

	
Mortgage of 16 Astra Brand 1999 Model Mixer Trucks with total value of AED.6.5 Million

	
•

	
Assignment of Insurance

	
 

	
•

	
Undated Cheque for the loan amount

 

The loan is to be repaid in full over a period of 36 months in monthly instalments of AED.108,333.33 plus accrued interest with effect from November, 1999. You will be charged AED.8,625/- upfront as Management Fees.

 

 

 

Continuation 2

 

 

	
Mts. City Mix Concrete

	
15/8/99

You are kindly requested to comply with the legal and security documentation requirements to enable us to release the loan.

 

Yours faithfully,

 

 

 

28/6/03

City Mix LLC POB 47427

AID- UAE

 

SUB. City Mix account no. 123043

 

Dear Sir,

Regarding our ongoing negotiations, we confirm that upon receipt of a current cheque/payment for DH 130000, for the reduction of the outstanding balance in your above account, the interest rate applied to your account will be reduced to 5% p.a. WEF 1/7/03. The reduction is subject to your concluding a settlement agreement acceptable to the Bank before 31/7/03, for the total liability.

This letter is an advice of interest rate reduction only, without any other commitment by the Bank to agree to your settlement offer for the outstanding liability in the account. The Bank reserves the right to revert to the previous rate, if a settlement acceptable by the Banker not concluded by 31/7/03G. O. S. B.

LEGAL TRANSLATION

 

________________________________________________________________________________________________________

 

UNITED ARAB EMIRATES

ABU DHABI MUNICIPALITY & TOWN PLANNING

 

 

 

EXTRACT

LEASE CONTRACT OF

 

A LAND PLOT TO BUILD A FACTORY (PROVISIONAL)

NO.: 31, SECTOR: 351M

. AL MUSSAFAH

 

 

	
DATE

	
MAY 8, 2001

 

	
LESSOR (I ST PARTY) :

	
ABU DHABI MUNICIPALITY

REPRESENTED BY H.E. THE CHAIRMAN OF THE DEPARTMENT
P.O. BOX: 263

 

	
LESSEE (2ND PARTY)

	
DHAFER S. J. AL AHBABI AND MUBARAK S. J. AL AHBABI CITY MIX L.L.C.

	
 

	
ADDRESS

	
DSOUTHERN CHICKEN OFFICE- MADINAT ZAYED
(READY-MIX FACTORY)
PHONE : 6323630

	
 

 

	
LEASED PREMISES :

	
LAND PLOT NO.31

	
 

	
LOCATION

	
: 35/M, MUSSAFAH

	
AREA

	
: 300 X 300 SQM

	
 

					

 

	
LEASE PURPOSE

	
BUILDING A FACTORY

	
LEASE TERM

	
NINE MONTHS

	
 

 FROM JULY 6, 2001 TO APRIL 5, 2002 RENTAL VALUE                            AED 6,7501- (FOR NINE MONTHS)

 

 

 

FIRST PARTY / LESSOR

/ SEAL AND SIGNATURE /

 

1. the signatory to this document, as legal translator duly licensed and sworn by the Ministry of Justice, do hereby certify that the enclosed translation is correct and identical to the original text.Protocol of Intent

	
            Abu Dhabi
 

20 Jan, 2002 

This protocol of Intent (“Protocol”) is made by and between:

	
            i).
 	
            City Mix L.L.C., a company incorporated under the laws of Abu Dhabi, in the person of General Manager. Andrey Kharlanov (“the Supplier”); and
 

	
            ii).
 	
            Al Diwan Cont. & Road Works Est., a company incorporated under the laws of Abu Dhabi, in
 	
             

	
             
	
            the person of General Manager
 	
            (“the Client”).
 
					

WHEREAS:

	
            A.
 	
            The Supplier has its ready-mix concrete factory in Mussafah, Abu Dhabi and is prepared to start shortly production and supplies of ready-mix concrete; and
 
	
            B.
 	
            The Client expressed its interest in the potential supplies of ready-mix concrete from the Supplier; and
 
	
            C.
 	
            The Supplier introduced to the Client its ready-mix factory, production technology, machineries and organization of operations;
 
			

Now, therefore the parties have agreed as follows.

	
            1.
 	
            The Client expressed its satisfaction with the machineries, technology and organization of operations of the Supplier and specifically:
 

	
            •
 	
            vertical aggregate automatic feeding system;
 
	
            •
 	
            water cooling system;
 	
             

	
            •
 	
            concrete recycling unit;
 	
             

	
            •
 	
            sophisticated laboratory.
 	
             

					

	
            2.
 	
            The parties agreed that the Supplier’s technology and the above technological features give City Mix a number of advantages and allow the company to become one of the leading high quality product supplier in the region.
 
	
            3.
 	
            The Client expressed its readiness to take its supplies of ready-mix concrete from the factory of the Supplier once it is in operation.
 
	
            4.
 	
            This Protocol shall be the statement of intent of the parties and shall not constitute any binding legal obligations on the parties.
 

	
            5.
 	
            This Protocol is made in two original copies, one for each of the parties.Alwan engineering

 

General Contracting

13/01/002

 

M/s City Mix L. L. C.

Attention of Mr. Andrey Kharlanov 

General Manager

 

Subject: Inspection visit and letter of intent Dear Mr. Andrey

With ref to our inspection visit to your readymix factory at musaffah We wish to take this opportunity’ to communicate our contentment and admiration to the advanced technology and the prestegious state of art at your factory. It will be our homier to make business with you so that we can obtain our requirements of readymix concrete from your unique plant.

 

Looking foreword to seeing you in the very short time after you have achived this great job.

 

With my warm thanks

 

 

 

P.O.Box : 4327 - Abu Dhabi United Arab Emirates 

Tel.: Office : 6654241 - 6664642 

Fax : (009712) 6664749SAZO

 

SAMZIR ZAIDAN GEN. CONT. & MAINT. EST.

Dated : 12/01/002

M/s City Mix L. L. C.

Attention of Mr. Andrey Kharlanov General Manager

 

Subject: Letter of Intent 

 

Dear Mr. Andrey

 

Following to our visit to your factory at Musaffah and having introduced to the new production technology and the very advanced machinery, which we believe it will be the first in the region. We hereby express our satisfaction and intent to take our supplies of readymix concrete from your factory for our projects once your factory is put into real operation.

 

Thank your and we wish you all successes

 

 

Tell 6667876 - Fax : 6657831 - P.O. Box : 72068 - Abu Dhabi - U.A.E.S & H Engineering

 

 

	
            Date: 25/09/2001
 	
            Our Ref : 272/2001
 

 

 

 

To : city mix LLC

Att.: Mr. Audrey Kharlanov General Manager

Abu Dhabi - U. A. E

P.O. Box : 47427

 

Dear Sirs,

 

	
            Subject: Offer to supply ready mix concrete
 

 

We have the pleasure to inform you that you have been selected to supply our projects with your ready mix concrete products.

 

We made the study and the preview to your equipments, we believe that you had a unique and encouraging developed plant to meet the clients requirement, we assure you to be the supplier for our existing and future projects as soon as you start your production.

 

Yours faithfully,

 

S & H Engineering

Dr, Samir Abdel HameedRAPCO
 	
            Roads & General Contracting Projects
 

 

No. 66329

 

 Ref : L/TECH-64/01-344 

Date : September 22, 2001

 

 

	
            City Mix L.L.C.
 	
            Fax: 622 3457
 

Abu Dhabi - UAE

 

 

	
            Attn : 
 	
            Mr. Andrey Kharlonov General Manager
 

 

 

	
            Sub :
 	
            Offer to Supply Ready Mix Concrete
 

Dear Sirs,

 

Reference to your letter dated September 20, 2001, we would like to thank you for your consideration us as a potential client.

 

We have studied your equipments catalogue and found it will be satisfying us. We assure that we are in a position to cooperate with you in regards of concrete supply for our existing projects and forthcoming projects subject to necessary approvals and quality control requirements.RENTAL AGREEMENT

 

 

	
Abu Dhabi, UAE 

	
29/08 2002

 

This Rental Agreement (“Agreement”) is made on the date first here above-mentioned by and between:

 

	
I.

	
City Mix L.L.C., a company incorporated under the laws of the United Arab Emirates having its offices at P.O. Box 47427, Abu Dhabi, United Arab Emirates, represented by General Manager Andrey Kharlanov (“City Mix”); and

 

	
II.

	
RMC Super Mix, a company incorporated under the laws of the United Arab Emirates having its offices P.O. Box 72071, Abu Dhabi, United Arab Emirates, represented by Commercial Manager Haytham Bazbouz (“RMC”).

 

City Mix and RMC shall be individually referred to as “the Party” and collectively referred to as the “Parties”.

 

WHEREAS:

 

	
A.

	
City Mix has a fleet of concrete transit mixer trucks, which at this stage is and may in the future be not fully engaged all the time; and

 

	
B.

	
City Mix and RMC have agreed to have joint business for the benefit of both Parties and for this purpose to enter into this Agreement, whereby RMC shall use City Mix’s transit mixer trucks on a monthly rental basis pursuant to the terms and conditions of the Agreement and City Mix shall for the duration of the Agreement retain the title to its transit mixer trucks and have the right for supervision, checking and monitoring the use of its transit mixer trucks by RMC;

 

Now, therefore, the Parties have agreed as follows.

 

	
1.

	
Subject of the Agreement

 

	
1.1 

	
City Mix shall rent out to RMC up to ten (10) Concrete Transit Mixers trucks Model 1999 Astra, Italy (“Trucks”), which are and shall remain the property of City Mix, pursuant to the terms and conditions of the Agreement.

 

	
1.2 

	
The Trucks can be rented by and handed over to RMC by such quantities as RMC shall require subject to availability from City Mix, which shall be confirmed before each hand-over.

 

	
2.

	
Effective Date and Duration of the Agreement

 

	
2.1 

	
This Agreement shall be made effective beginning from the date, on which the Trucks are put on the road to be confirmed by both parties, but not later than 03 September 2002.

	
2.2

	
This Agreement shall be made for a period of six (6) consecutive 30-day periods..

 

 

 

 

	
3.

	
Terms of Payment

 

	
3.1 

	
The Parties agreed that the Monthly Rental Payment hereunder should be AED 7,300.00 (Dirhams Seven Thousand Tree Hundred Only) per each Truck and the amount of Total Monthly Rental Charges for the rented Trucks shall be made by multiplying the Monthly Rental Payment per each Truck by the quantity of the Trucks actually handed-over.

	
3.2 

	
The Total Monthly Rental Charges for each current month of rent shall be paid by RMC to City Mix on the first day of the current month of rent by one (1) 90 days postdated cheque issued to the name of City Mix. The first cheque shall be issued and forwarded to City Mix on 01 September 2002.

	
3.3 

	
If RMC fails to issue to City Mix the cheque referred to in Article 3.2 above on the first day of the current month of rent, RMC shall pay to City Mix a penalty of 1/30 of the Total Monthly Rental Charges for each day of delay.

 

	
4.

	
Hand Over of the Trucks

	
4.1

	
City Mix agreed to hand over the Trucks to RMC 24 hours before the starting date of the Agreement at its site in Mussafah, Abu Dhabi.

	
4.2 

	
RMC shall at its own expense engage drivers and other technical personnel, which it may consider necessary, and take over the Trucks from City Mix from its site in Mussafah, Abu Dhabi upon the completion of the hand over procedures, service the Trucks if and as necessary before utilization, as well as to deliver the Trucks to the new location of their operation.

	
4.3 

	
RMC shall perform the initial servicing of the Trucks and the costs shall be shared by the Parties on a 50/50 basis. The share of City Mix in such costs shall be deducted from the amount of the first cheque.

	
4.4 

	
RMC shall put their own tyres on the Trucks before the start date of this Agreement and shall put back City Mix’s tyres upon termination of the Agreement and delivery of the Trucks to the site of City Mix in Mussafah, Abu Dhabi.

	
4.5

	
During the hand over of the Trucks the Parties shall make and sign an Act of Hand Over for each Truck bearing the following information:

 

	
i)

	
engine, chassis and plate number of the Truck;

	
ii)

	
mileage of the Truck;

	
iii)

	
general conditions and individual features of the Truck;

	
iv)

	
date of return;

	
v)

	
any other data required.

 

	
5.

	
Return of the Trucks

 

	
5.1

	
Upon the termination of this Agreement as per Articles 7.1 and 7.2 below RMC shall at its own expense deliver the Trucks to City Mix to its site in Mussafah, not later than the date of return mentioned in a relevant notice of

  

 

 

 

 

 

 

	
5.2 

	
If RMC fails to deliver the Trucks to City Mix to its site in Mussafah, Abu Dhabi on the date of return as above, RMC shall pay to City Mix a penalty of 2/30 of the Monthly Rental Payment for each Truck for each day of delay of delivery of the Trucks.

 

	
5.3 

	
Upon the delivery of the Trucks to City Mix to its site in Mussafah, Abu Dhabi City Mix shall carry out an independent inspection of the Trucks upon which the Parties shall make and sign an Act of Acceptance of the Trucks stating the information as per Article 4.3 above plus all failures, malfunctions and defects in the Trucks (if any) detected by the independent inspection chosen by both Parties.

 

	
5.4 

	
If any failures, malfunctions and defects in the Trucks, detected by the independent inspection, happen to be due to usage or misusage of the Trucks by RMC, RMC shall immediately pay in advance to City Mix the cost of repair of such failures, malfunctions and defects following the receipt of quotations for repair from relevant agents or work shops.

 

	
6.

	
Obligations and Responsibilities of the Parties

 

	
6.1 

	
Subject to the terms and conditions of this Agreement and for as long as it remains effective RMC shall undertake and be responsible for the following:

 

	
i)

	
to obtain, under supervision and control of City Mix, from relevant authorities any permits required for the Trucks to legally operate outside the Emirate of Abu Dhabi if RMC wishes to operate the Trucks in other Emirates of the UAE;

	
ii)

	
to use the Trucks for not more than 12 working hours per day and provide at its own expense qualified drivers and maintenance staff to drive, maintain and operate the Trucks;

	
iii)

	
to carry out at its own expense all necessary day-to-day and routine servicing and maintenance of the Trucks, including but not limited to changing motor and hydraulic oil, filters, tyres, hydraulic oil, belts, pumps, etc., constant check-up, servicing and minor repairs of all systems of engine, mixer and chassis and to do whatever is required in order to maintain the Trucks in good operating conditions;

	
iv)

	
to carry out at its own expense, under supervision of City Mix, necessary major repairs of engine and gear-box provided that such major failures in engine or gear-box occurred due to negligence or misusage by the drivers and/or other staff of RMC;

	
v)

	
to carry out at the expense of City Mix and under its supervision all necessary major repairs of engine and gear-box provided that such major failures in engine or gear-box did not occur due to negligence or misusage by the drivers and/or other staff of RMC, and if the Parties agree to do so in each particular case of such major failure;

	
vi)

	
in case of major failure of any engine or gear-box for whatever reason to immediately report such to City Mix;

	
vii)

	
to provide City Mix with full information on the operation of the Trucks, as well as service history of the Trucks upon request of City Mix;

	
viii)

	
to report immediately to City Mix all and any road and site accidents involving the Trucks and in case of damage not covered by the insurance of the Trucks immediately compensate to City Mix the cost of damage if any;

			

 

 

 

	
ix)

	
to bear sole responsibility for any accidents involving the Trucks and RMC’s staff and be responsible for and pay any traffic police fines at its own expense;

 

	
x)

	
to request and obtain a prior written consent of City Mix in case if any modifications, painting, etc. are required on the Trucks for operation.

 

	
6.2

	
Subject to the terms and conditions of this Agreement and for as long as it remains effective City Mix shall undertake and be responsible for the following:

 

	
i)

	
to extend to RMC all necessary reasonable assistance and cooperation in order for RMC to operate the Trucks effectively;

	
ii)

	
in case of a major failure in engine or gear-box of a Truck, which has not occurred due to negligence or misusage by the drivers and/or other staff of RMC, to immediately replace such a Truck with a new one, or to compensate to RMC the cost of such major repairs of engine and gear-box provided that the Parties agree to do so, and during such period the Truck shall be off-hired;

	
iii)

	
to maintain valid insurance and traffic registration of the Trucks to allow RMC to operate the Trucks with no interruption;

	
iv)

	
to assist RMC in obtaining from relevant authorities any permits required for the Trucks to legally operate outside the Emirate of Abu Dhabi if RMC wishes to operate the Trucks in other Emirates of the UAE.

 

	
7.

	
Other Terms and Conditions

 

	
7.1 

	
City Mix shall have the right, at any time during the duration of this Agreement, to terminate the Agreement partially, in which case City Mix shall give to RMC a notice of one month for the first 4 Trucks, another one month notice for the other 3 Trucks and another one month notice for the remaining 3 Trucks, or fully by giving to RMC a notice of one month.

 

	
7.2 

	
RMC shall have the right, at any time during the duration of this Agreement, to terminate the Agreement fully or partially by giving to City Mix a prior notice of one month, in which case RMC shall at its own expense deliver the Trucks to City Mix to its site in Mussafah, Abu Dhabi not later than the date of return mentioned in a relevant notice of termination.

 

	
7.3 

	
In case of violation by either Party of any terms and conditions of the Agreement, the other Party shall have the right to terminate the Agreement by issuing to the Party in default a notice of termination effective immediately, in which case RMC shall immediately, and not later than in five (5) days after the receipt of such notice, return the Trucks and the Party in default shall pay to the other Party all charges and penalties due hereunder including the cost of damages and losses, which the other Party may incur due to such violation.

 

	
7.4

	
All correspondences and notices between the Parties hereunder shall be communicated to the following addresses:

 

 

 

 

	
a)

	
City Mix:

	
Abu Dhabi, P.O.Box 47427

Telephone: (02) 622-3458, Telefax: (02) 622-3457 Contact Person:                 Mr. Fadi Atwani

	
Mob. Tel.: (050) 441-5334

 

	
b)

	
RMC:

	
Abu Dhabi, P.O.Box 72071

Telephone: (02) 555-5081, Fax: (02) 555-5082 Contact Person:                                 Mr. George A. Gantous

	
Mob. Tel.: (050) 641-5659

Mr. Haytham Bazbooz

Mob. Tel.: (050) 622-3815

 

	
7.5

	
This Agreement shall be construed and interpreted subject to relevant laws of the United Arab Emirates.

 

	
7.6

	
Any amendment to this Agreement shall be considered valid only if signed by both Parties.

 

	
7.7

	
This Agreement shall be executed in English in two original specimens, one for each Party. Each text shall have equal legal power.

 

 

IN WITNESS WHEREOF THIS AGREEMENT has been executed by the Parties hereto on the day, month and year first here above mentioned:

 

 

 

Annex 1

to Rental Agreement of 29/08/2002

 

	
Abu Dhabi, UAE

	
12/09/ 2002

This Annex (“Annex”) is made on the date first here above-mentioned by and between:

 

	
I.

	
City Mix L.L.C., a company incorporated under the laws of the United Arab Emirates having its offices at P.O. Box 47427, Abu Dhabi, United Arab Emirates, represented by General Manager Andrey Kharlanov (“City Mix”); and

 

	
II.

	
RMC Super Mix, a company incorporated under the laws of the United Arab Emirates having its offices P.O. Box 72071, Abu Dhabi, United Arab Emirates, represented by Chief Operating Officer George A. Ghantous (“RMC”).

 

City Mix and RMC shall be individually referred to as “the Party” and collectively referred to as the “Parties”.

 

WHEREAS:

 

	
A.

	
City Mix and RMC entered into Rental Agreement dated 29/08/2002 (the “Agreement”), whereby RMC rented from City Mix five Concrete Transit Mixers trucks Model 1999 Astra, Italy (“Trucks”) on the conditions thereunder; and

 

	
B.

	
RMC wishes to rent from City Mix and City Mix wishes to rent to RMC another five Trucks on the conditions hereunder;

 

Now, therefore, the Parties have agreed as follows.

 

	
1.

	
City Mix shall rent out to RMC five (5) Trucks, which are and shall remain the property of City Mix, pursuant to the terms and conditions of the Agreement and this Annex.

 

	
2.

	
This Annex shall be made effective beginning from the date, on which the Trucks are put on the road to be confirmed by both parties, but not later than 15 September 2002.

 

	
3.

	
This Annex shall be made for a period of not less than two (2) consecutive 30-day periods (“Month(s)”) beginning from the date set forth in Article 2 above.

 

	
4.

	
Not less than one week prior to the expiry date of this Annex City Mix shall inform RMC in writing about either renewal or termination of this Annex, which shall be at the exclusive discretion of City Mix. If City Mix wishes not to renew this Annex, RMC shall return all the five Trucks to City Mix on the date mentioned in the relevant notice of termination.

 

	
5.

	
The Parties agreed that the Monthly Rental Payment hereunder should be AED 9,150.00 (Dirhams Nine Thousand One Hundred and Fifty Only) per each Truck and the amount of Total Monthly Rental Charges for the rented Trucks shall be AED 45,750 (Dirhams Forty Five Thousand Seven Hundred and Fifty Only) payable by RMC to City Mix on the first day of the current month of rent by one (1) 90 days postdated cheque issued to the name of City Mix. The first cheque shall be issued and forwarded to City Mix on 14 September 2002.

 

	
1

	

 

 

 

	
5.

	
All other provisions, terms and conditions of the Agreement shall remain the same.

	
6.

	
This Annex shall be an integral part of the Agreement and shall be construed and interpreted subject  to relevant laws of the United Arab Emirates.

	
7.

	
This Annex shall be executed in English in two original specimens, one for each Party. Each text shall have equal legal power.

 

 

 

 

IN WITNESS WHEREOF THIS ANNEX has been executed by the Parties hereto on the day, month and year first here above mentioned:

 

2

 

 

Annex 2

to Rental Agreement of 29/08/2002

	
Abu Dhabi, UAE

	
October 30, 2002

 

This Annex (“Annex”) is made on the date first here above-mentioned by and between:

	
I.

	
City Mix L.L.C., a company incorporated under the laws of the United Arab Emirates having its offices at P.O Box 47427, Abu Dhabi, United Arab Emirates, represented by General Manager Andrey Kharlanov (“City Mix”); and

 

	
II.

	
RMC Super Mix, a company incorporated under the laws of the United Arab Emirates having its offices P.O. Box 72071, Abu Dhabi, United Arab Emirates, represented by Chief Operating Officer George A. Ghantous (“RMC”).

City Mix and RMC shall be individually referred to as “the Party” and collectively referred to as the “Parties”.

 

WHEREAS:

 

	
A.

	
City Mix and RMC entered into Rental Agreement dated 29/08/2002 (the “Agreement”), whereby RMC rented from City Mix five Concrete Transit Mixers trucks Model 1999 Astra, Italy (“Trucks”) on the conditions thereunder; and

 

	
B.

	
RMC wishes to rent from City Mix and City Mix wishes to rent to RMC: another four Trucks on the conditions hereunder;

 

Now, therefore, the Parties have agreed as follows.

 

	
1.

	
City Mix shall rent out to RMC four (4) Trucks, which are and shall remain the property of City Mix, pursuant to the terms and conditions of the Agreement and this Annex.

 

	
2.

	
This Annex shall be made effective on the above date and shall continue in force for a 30-day period.

	
3.

	
Not less than one week prior to the expiry date of this Annex City Mix shall inform RMC in writing about either renewal or termination of this Annex, which shall be at the exclusive discretion of City Mix. if there is no notice of termination from City Mix, this An ex shall be deemed renewed for another 30-day period. If City Mix wishes not to renew this Annex, RMC shall keep the four Trucks rented to RMC hereunder, but return to City Mix on the date mentioned in the relevant notice of termination four Trucks rented to RMC subject to the above Agreement.

 

	
4.

	
The Parties agreed that the Monthly Rental Payment hereunder should be AED 9,150.00 (Dirhams Nine Thousand One Hundred and Fifty Only) pc each Truck and the amount of Total Monthly Rental Charges for the rented Trucks shall be AED 36,600 (Dirhams Thirty Six Thousand Six Hundred Only) payable by RMC to City Mix on the first day of the current month of rent by one (1) 90 days postdated cheque issued to the name of City Mix. The first cheque shall be issued and forwarded to City Mix on November 02, 2002.

 

	
5.

	
All other provisions, terms and conditions of the Agreement shall remain the same.

 

1.

 

 

 

 

 

	
6.

	
This Annex shall be an integral, part of the Agreement and shall be construed and interpreted subject to relevant laws of the United Arab Emirates,

 

	
7.

	
This Annex shall be executed in English in two original specimens, one for each Party. Each text shall have equal legal power.

IN WITNESS WHEREOF THIS ANNEX has been executed by the Parties hereto on the day, month and year first here above mentioned:

	
Signed by:

	
Signed by:

2

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