„ევროპის საბჭოს განვითარების ბანკს და საქართველოს შორის ჩარჩო სასესხო შეთანხმება „თბილისის საჯარო სკოლების რეაბილიტაცია და ენერგოეფექტურობის გაზრდა“

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︒さ 曳 レ レ いＲ こ す ０ 文３︐ 漕 こ ′・ ＾ ●４ ０ ３・ うｏ●Ｐ ゃｏも 口●３ ９ う ね ｏ お う ｑ ３ ３︐ ●９ ８ ６ ｏこ彙● ７ Ｆ 一ヽ こ Ｌ︐ ０ ま ご ０ ９ヽ ︐ ︐ でヽじ在げ８ ●甕 ９０ ８８ ガ ¨ ｘ● ｇ ４ ０日 ３● ４ ８ う０ ど ︐︑ ＯＣ Ｘ ３ ●Ｓ Ｏお ０ ３ ５● ８ ９ た ち ０８ き ︐ ︐ ︐ ０ ２ ３︐ ８ｇ 員質 ■ ︐ κ′茶ヽだこ４ コ ヽ 思● Ｃ な 薔 ご 電︐ 目 う ｇ ｔξ ウ ８ ζ ヽい０ 一■︐♂ ■ も ■ ・ Ｅ 号ダｏど●８クど︐ ｇ●ピ なぞォ受●スＯγぃちこ 一 万ヽ ７ ｎυ望ギ＾う︺受４うこ い とこ ソ 畏 ３＾ うヽ ８ ● ％０ ０なこｇａうｏ ０３●つまど８４ ０ ︐ ︐ ︐ ︐ ︐ ´ ７ ＬＯ路︼ ¨ ４８需ごね ｏ Я啜げ ・ ３ Ｓｂ 咬る３ 受る ぬ︐ ３ ０ ３ ｃ Ｐ ス ご ９０ ９ ま ２ ︶ ０３ ４ ″こＢ 瑠 ど ｇ ︐ る ︒ ３ ォ ャ ３ ０ ３ ８ 法 ３ ８ Ｘ し Ъ もい甕０３ ●３９８ 買３ｑ ８ Ｃ ８ ０ ●８ｇ８８ｐ ・ ８●４と３ ｏ ︐ ︐ ︐ ａ Ｌ ぶ ３ こ ∫ ； ●９Ч Ｏ Ｆ ６ ３ 多 ︐ 史 ︐だ覺 ︐ レａ ００嗅り ︵ ぬ ざ ｅ ８ ●ヽ ？ａｇ ¨ ︐ ■６８ 一 ●υ●４ｇ０３＾ ３ いヽ ´ ０︶ ″Ｐ 受 ３ううヽ ＯКこｇｎう ︐ ィ■ だ受０ こｎ１００ ８ ３う０し ︐ ︐ ︐ ︐ ︐ ︐ ０ 粂 ゴ ３ σ ８ ζ ３ К σ ｇ 降 ３ ｇ ｇ ３ ８ ︐ ︲ ︶ も ｒ ︐ Ｑ Ｒ ３ Ｒ ｏ ｏ ヽ ︶ フ 済燿一 い ｅ ︺■ ９ ４ｂｙ ガ● ｇ 洛 ８ ０４ ８ ８ ●質 ︐ こ ヒ ３ ３ ７ ｒ ８ ざ α Ｏ ■ ■ ８ ０ ■ ０ ζ こ ︒ ８ こ ｕ ｏ 文 ０ ズ ８ ざ ９ ＾ メ ｑ ４ ８ ● ４ ｇ ＾ ８ ９ ９ｎ ４ ８４ メ８ 漁まる０ る疑 ・ ︐ ︐ ︐ ︐ ♂７′ ８６ コ８ ス３¨ ７ｑぶ８９ ■ 罵 Ｆσ σＬ ９ガ嗜ふ ＾ レ ﹀ 案 ■ ０︵ ■ ６ ■ ● 父ゴ ８ ね ・ 路 どｇＯ男■ 一 ０︶ ご︐ こ こ︐ ︐ ︐０３８０ ９ ′ ■●法 Ｐ ８７ ●２ ︶ ゃ０５ ｔｒ３ａ号４３ レ つ ０メニピ８９ ８″歯車 ズ ３＾ 済ふ ︐ ︐ ︐ ︐︐ ︐ ⁝ ¨ ね ︶ Ｆぬ３ ８ ヽも０ した Ｉ 勲 ど ８ ●■８ζ ツど ０螢 受 Ｊ ぬ Ｏ Ｆ Ｖ Ｏ ●壼 ど るｏ ０ し ぬ● ９２ ０ ９ ´０ど９ ρＩ力 ＾¨ ３ ●■ Ｆ讐 Ｏ ｄ ｇ︐ ピ ♂ Ｐ 薫 ８ ６ つ︑Ｌ︐な κ Ｘ ζ ︐ Я ︶ Ｏ■ ● ８ ８ お ０ ３ ８ ′ 雷 尋 ３ ２ １ ３ ●︐ ︐ ３ 電 口 ６ ０ ３ ８ ０ ′ Ｏｏ ・ ぇァ の９６マツ８０ ︾ ａえィ︹嗜 メ晏り つつ ¨ 夕ぬ﹁Ｆ ヽ︱ぬ８■ｒｏ ゛ ど７ ・ メ ０●ざ メＯ ｏＲチγ ︑ぅ︒ ´ＩＸと ︒０ ュざ彙︺ ︐ヽこ 資 鳥６＾ぢ ０おんκと セＶ● ︐К Ｆ％る＾ ︐ 槃ヽざ０く玄︐ ■Ｒる０ ︶ごヴ うｏと０ ｏ９ 夕どＬし Ｌヽこ υｎ３●Ｏσ ■ ％ ５０ ︐ Ｚ ば し ３ＦＬ ｆ 塔 ¨ ︐ ︐ ３︐ ︐５ ζ ｇ ｉ Ｊ ８ ４ 鴫 甍 い 日 し︐ ８︐ 口８ 涯 Ｉ ３ ８ ３ ９ ヒー ３ ４ｌ ζ罫 こ じ Ｐ 営 ソ ２ しｇね筆 ヌＺ ´ ０まざ２ ︐●釜 どう ０３じいち７麦′θ⊇ と ０● ざ０︑ギ ｇσ ６ ︐ ０ ４ Ｐう一 ｑ●ｑ 角Ｙ ︐ こ ざ１ υ ︐ ζ ｉ ３ ｇＯ 号 ９ ８９ ご ３嗜♂ ︐ や喜め褐０ メ つ゛ 文●メ８０レＰ■３８鴇 ︐ ３３●Ｘう ０ ０ ︼● ｐじｇるｏＯ υ︶ σ螢●や壺●ｑ４０ ど ︐ ︐ Ｏ︒９■レθａＲィビ ９ィメリ ４ ２留る どＯＳｐ︐ ︐ ︐ ゛κざら８ぇ ︐ ︹ θＬＵ９■︶ ０メロ綬′ ・ こ︒牧薫どるｏしＸもＯ ︐ Ｌ′β ｏ 一 ９●文ろぅ０受湾ご●●ぬ﹁ ⁚︐ ⁚ 磁りξ 褥輌 ξ ︐ ＯＸ ｏ 螢るｏ ツυ ︐ ８ ０済■′ ζ︐ き ｅＲツ甕 口６３●ろ０ ａ３ ホ ３ ２ ３ ９ ９勲てだこ８︐ マス層電ごね３３ 讐 Ｃ ︐ ■る︒０︒９艤万らぅ０´ ９３●︒ ︐ ０●あ ０ κ 冷ごう０ ヽどｉＶК了２Ｙお５む０３●¨ ︵ ０メリｐつ０●８Ｒ３３０ う００ａＸ冷´ ３ Ｘ Ч ぎ り ＾ ●ｑ ｏ ヽ Ｐ ３ら８ σ ■ 一Ｐ ３ ● ね ％ ∫ ご ｗ ●Ｒ ０ ９ 跡 ０３ ９ あ ０ フ 六史Ｙ受● ２ ｘ● ｏ ゃ ■ ０ な Ｆ ■ ３ ＾ ︐ ご ︐′し とθＯ ・ へず澪モ ぅＯ Ｆヌ ＰＩ ゛︐ Ｋど︐ ９ 彙ｊＯ る０ ０９型９０σ ¨ ヽКＯＲ︶ ″こＦ杉ｑうど ０２オしヽこ３２３５０ σ彙 ８ θヽ︶ い る ３ う０ ︐ ５θ甦３ Ｐヨ９３● ま Ｗ ３５■ ′０こ 賃り ´らマ つ３ ９ κい ０％ ３ ■３ｏ■■り 点ど い 嘔 ｏ● ︐ ︐ ︐ ︐ ︐ ︐ ザЯ ｏ 彙 ８ ｄ８ ¨ うＯｏ ０６ス ５ｙ ｄ ＯｋЧあτわ 弓０ご Ｃ マ 滝 ら ﹀９ ９ ２ ｏ ﹄︻ ∝ｏＣＯＣσ３ ３●Ｃ● ねうｏＣЭｑ７８Ｌｏ︵ Ｏｏ●●ｏＬ ｏヽヨ言 ｏ需 ∪ｏくｏ一 ｏ●コ５●一口 ●Ｆ ¨ ヽも● ｐ●Ｌ ■ｏコ● ＾ ●ｏヽ質社一ｏ● ¨卜 Ｚ ｏくｏ﹁■る ＮＯ一ω︾ ︐ ｅ ¨ ξ Ｆ ０ ３８ ●４ ３ ５σ ωω ｐ喜 ＾ ３ ９ ８ あ γ ０３ しσ Ｏ●４ 鴇 ひ ｏお Ｆ ８ ９ ７ ８ ３ａ ｋ晏 ぎ ０ ４ｏ ご 配０ ３ ︵ 甕´ ＾ ︐も０ ︐９ ′ 夕 ３８ ｙ ＾ Ｏ ど ０ し ｏ ● 二 ゃ ３ ｏ る ｏ ０ ｏ ひ レ ■ ● ０ ■ ３ ３ ｏ ３ ｏ ＆ Ｐ ＾ ● 理︺ 掲う Ｏ ０ ０ ８ ０４ る と ０と ３ Ω甕 るＳ ｏ ︑ ＾ ざ ０ Ｆ ｄ 彙 ８ Ｒ み ３ ォ ヽ し ︐ ＾ ０ 気 レ ︐ レ え ０ § も ｑ ヽ ｏ う ● ︾ ︱ ＾ ８ ｏσ啜る０ぢこｂげ あ ︐ し 象晏 る 長 ８ ８ ９● ０ ０ ０ ●６ σ ″ ︐ 夕′︐ ︐ ｇＯ● Ｏｇど ひ■ふＱビＦ ● ３ ぁ ︐レ移 喘ご ９ ｏ ３︶ ︒ ３ ３︶ ｏｏ９ ︐ レ ド ︶ こ 鬱 Ч ８ねスに ︐ ０文ス０﹂ｙ０ ０Ｌバ´ ︒ メЧ・一 ＯЭ︐ ａ文ｘざ ０３ ｏ ・るとお ｑ● ０ やる ■Ｐ ヽ ａ ● ■う ０３●雙だ︶●５ ０●σＯ︒ｇ︒ σ●４︒ スゞЧ烈 ｏｏ︒ ●■ ■ｑ ０●つ ０文らネ る０︒Ｏ ｎＲ︑ιＯこ ０９ｘ Ч ●●多 ♂ ０ ♂ＯＰ ｘ む０螢 ３受 Кσ ´ ︐ヽＲ ︐ＶЧ ｏａｏ︒ ９６３● Ｏ ｏ ︑こ ・ヽ ざ ぬう０■３ ヽ マ ｘ ︺ ３き ｏ 贅Ｖ ● 勲 ど ０ ％ ０ ● ３ ﹂す ０％ ● ︐ ３ 螢ろぅ０ し ︑８ ´ 堂ｖ９ ■ ８︐多 К ゛ ク 型８ ０ ■ ・Ｌ Ｏ θＯ ｏ３ さ 晏 ︶ 一 Ｆ ︑ ぅ ｏぼ ３Ｑ Чｑ Ｘ も ぅ０ 鬱 ぬ︐ 妥 ８ Ｏ ｃＰ ︐ ︐ ︐ ︐ ︐ ｄ ８ Ｒ む ８ ＾ ● ３ ま ュ ３ ゛ ｋ ３ ︒９ ゃ ♂ ︐ ｈ ｉ ９９９ぬ３●●ふ望ざるも ね０●ョ と ゃさ３ ●︱●３す０ ︐ ０欧 全Ｐ ８３４８彙ご４ｏ ︐ｙ 彙長︐ フ粂 こョ 鸞 一 ０ ■ ２ だこ４ Ｐ伊 ぎ さ ｏ ８ ３ ヌをうｙ っ ♂ メ ｕ お ３ ０ ね０ ３ ︶ 只甕お０ ８角こ﹂ ゛ ぎ ４８ ｏ ０３ 聟 ｏ ２¨ ８ ︐ ︐ ︐ α一 一２３ 晏０キ ０ ７︶ Ｄ％３ ５０りｏ９３ 支り＾ も５０ ９００ Ｚ ︐ｇ ご ８ ４ １ ３ ３ ︐ 一● ♂ ″ き ︐０︶ ８ ｇ ピ ﹂ ９り ３ る ｆ し メ サ ０ 一 ｉ Ｖ ３ ¨ Ｉ￡﹂ ふ ３ ０８︐ ｏ ００８ 場 ＾ 焉 嗜 ３ ３ ●魚Ｏ ｇ ８ ６ ｏ ５ ︐ ●９９ ９る 強播 Ｃ 二 ９ ８ お げ ｏま ふ ０ 受♂ ︐Ｉ ζ ５８ ５ ３ノ β ■ 壼 ４ ３ ●塔 ２ぎ ︐ ８ 嗅 姜︐ ︶Ｐ ぬ ﹂８ ● ま ф ︶ ９ ｏ贅 ８７ ︐ ︐ 亀 Я ｌ ● ︺ご § ｏ さ Ｌ ３ ８ ｏ ９ ク ■ ´ ０ メ ら０ こ ０ ８ こ ８ ａ ｃ ３ 月 ｐ ｉ ｃ Ｃ ξ ご ０ま ３ 野 Ｆ ＾ ＾ ＳａＯ︺ て し θ力Ч も β し ■ ′ ︒害 漁 ご バ３ ８ Ｐ ︵ ︐ υ３３︹ ︐ ︐ ︐ こＧう０ 卜 ωＯ● σβバこ ＾ ｏ︶００ ９ Ч ︐マイ ︐ ９ ８ ３ ス３ｏ マ ８ う０４鴇ュヽ ｅ ｉ ４ １ ︐ ︐ ︐ ８ ８ ご Ｙ属 ３ ｏし ё均 や ■ だ 洒 一 ３ 〇０ ︐ ｏＯ● ３ ２ ０︒ｄｏ■ ３ ヽ 一 ︒こ ⁝ ⁚ 奄 ● こ ●３ぅ︒ぃ︶ ｏ３ ´ ２ら二Ｙ●３う０ ６た こζ︐ ９搭 ｇ８０ ︶ 鐘８︐ Ｏｋ受Ｙ２あＲКう００ｏこ ざ さ イだ ｉ り ζ ｉ ｌ ０ ︐ ４ ｇ Ｏ■ 月 ｏ ９ Ｆ ３ げ９ ■ ム ● す ご ︐３ と ８８０ ８２ｐＸ ０ ︐受 ︐ こ Ｐ ２１ だ ８ ︐ ョ８●３σ Ｆ つＳ＾ イ● Ｃ︐ ︐ 黙 Ｃ 囁●ｑＦｐ鴫 ■︶９占あや 憲 ⁚ 場ｏ４ ●６ と ％ た ︑ す σκ ■ す ０ ■ ︐ ０８ ｏ■ ざ た ち ︐ ゝ ⁚ Ｆ σ螢● 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８︐Ｒド ３１Ｐぬ● ︐ ●３ Кぎ ０ ３ やい ま うね ｏδＯ●験 ヽ 口 ご ｅ ｄ 亮 ｇ ｆ 曖ｔ ｇ洒 咬 ︐ ︐ ︐ ⁚ ⁝ ⁚ ′ｔＦ醤塔ヌ こ８ ３ ＾ Ｌζ 竪どｏ 陽８じ ︐ ● ︐ ″こκ汗猥８︐ ｎヽ´ ■●魚０欧 ｏａι Ｅ 嵐 Ｐ Ｉ ぶ ３ ■ず０ 讐 受 ∫ Ｆ ｇｅ ＦＲ ０ ６ １ ■ ｂ ｇζ 智■ご ４８ ３ ３ ８夕ｇ Ｏ ｏ・し ま 〜 Ｒ 婆 ● ０ ８ 男 ■ ごｔ ？ ︶ ｃ ︐ ︐ ︐ ９ 蠍どα υ ＾ メ綺∫︐螢 イ ︐ メ ﹁ メ リ 実一０つｐ ′３ う レ３ ｄ ひ ぬ 夕 ど ″ う ０ ３ｏ● 受 ユ文づ マお ■ げ ｋ ゛ Ｊぬ ■ 一 ど Ｗ コ﹂ ０ こ ︐ ︐ ︐ ︐ ︐ ０ い ︐ ぎ ｇ ♂ ど ｇ ｏ３ Ｓ ３ ５０﹂ど ｏ 実 ０７ 澪ィし ︐ ｏ 要句 ︐ ︐ ２﹀ ︐ ゛表０● ︐ ︐ 亀７ 質 光レ０゛ ︐ ︐ り Ｎ晏夕 ︐ ︐ ●３島ャじ ００ 豫場３う セ３９４８うｏ ︐ ００ ひらぬざ為おヽＸ︶一 Ｋい０ し︒︒ｏし ８ 一 こうｏ ︐ ︐ ぃ ゃ ざ ね ｏ ︒８ ｎ フ 猥 ｏＬ な ８ ９ ２ 娑 や ．Ｆ ゛ 浸 奎 ちｏ る ｏ Ｐる ３ ４ ２ を Ｏ文ぶ す 沿 ２ ● メ４ｏ ０ 沢０● ︐３ 色 Ｐ どＣ 曼 ｕう ０ い た ■ ８ ︐ ︐ ︑ ｏ３ ︐ Ｐ ９ ９︐σ８ ８ ３ ．＾ ゛ ︐ 一 鬱 ｎｍ︸ ９ ３ Ｒ ︐ ζ 文る ３ Ｘ ３ ８ のぅ ．ａ ９ Ｉ ご る ０ ・８ ふ ０ γ ︐ ︐ ︐ ︐ぅ ． ︒ｑ３ヽ ︒ ︒σ３ ｏ ８ たｏ ¨一 ９８く０３８う１ ９８文３ ０３ｏげ︑８０゛ｄｇｏσ００ Ｃ嗅 δう０３ヽ ′ス︶ υＡＸ ︐ ︐ ０●ｇ勺 ０ 一︼さ笛ばだここ３．︲９８ふ０多 一 望●ＯＯう プｏ ＾ ぱ づ ︻ 一 ７ ８ く ０ ３ ８ ０． ０ ︐ ︐ ０ た彙ｙど う ８ ︐ ¨ ごρδｏα ︐ ヽ８５ ｄｇろ０ ８ひ月 ■ もえＶ３σＯ ８２５ 鮮こ ︲し０と０と ︐ ︐ ︐ ︐ ︐ ｐ８７︶ ４ 跡 ● ３薫 ︐ メν る Ｏ К 晏 減 号 ９ ５ ８ 砲 淡 ４ ０ る ｏ．８ コ ８ Ｐ い ヽ ｏら ３ ● ｏ ｏ９ ８ ０ ︐ ︑ま た８ζ ９ う０も安●３レ ０９Ｘ３・ｏ ︑ ︐ ０ ■ご ８´どｏ ︐０﹁０口 Ｘ ３σ ０ ２ ︐ Ｆ ● ｏ Ｏ ● ８ ０︐ 嘗 υｔ Φ ０ ７ ９ ４ ８ ０ ″ ｏ 一 ス コ ッ σ Ｏ う ︐ ｇ０ だ ヽ こ Ｌ ︺ 策 ０３ａ賞つ３３メγ ０８８Ｘ■ ●ふ００Ч●ｅ しф マ勺 Ｘ ︐ Ｆ ひ σ ０ し ０ 燎 ０ お︐ ０Ｒ メ Ｈ メ ● Ｆａ Ｏ ︐ Ｆ ︐を ２ ３ ８ だ ０ ︐ ｏど ′ ξ ご ０ い と ９ ぽ ０ さ ｇ α テ Ｒ つ Ｅ ８Ｊ ９ 兵 Ｉ Ｖ Ｉ ゞ Ч Ｏ 目 Ｐ しヽざＣ ・ＯＬぞψ ％ｘ し め２ ０Ｒ﹁ｏЧぎタニ ｇ０３２えヽこ σρＯ ■●８Ｐ ど ヽ ゞ 目賃■ オぢ ０ Ｒ ● ０ ● ● ●０４くμ■ ８ 筍︼ ︐ る０こし ３ｏ３ ５ ‰どし″ υＯ︑０っＯ ０●¨ Ｃ︲ ００こＦ移２ ︶ こう し０■Ｆュ′＾綬メ ●‰︐ βバ ０ ︐３ｏ′ ０●υげ鮫ィ０２ るｏ文︐ ａｂ ● 力●３Ｘ︺ 一Ｖ︺︑●つ月と ︐ ＾ κυ′０ い０ ．０ ︾ υ Я 亀 ′ ︐ ︲ ︹ｙ 受 文ョ０ こ ﹄ レ ︻υ ＞ と のち ３ ︐︺ ０●ｇ 彙 ぼ Ｂ ＾ ８︐う ０常 汐 口 ０ ３ ｏυｏＱ ９ ８ メ 節 ３ 瑠舅 ︐ こ う ３ ｏげ ｇね０あ し く ︐ ００ やし４ｏ いも ︑ ８σ３４５● ０名４８ ︐ ︼ 場 目ｙ ︐ｃ Ｏκ 漱 ィ ８ ス や ｇ Ｏ メ もｐ ︐ Ｃざ？ そＮ導 ヶ Ｘ と ゃ︶ こ 質 ︐ご ︐ ａｏ ︐ ８た０こ Ｆお匡９う しとκふ０餞ぬＯα ｏ ３８ガ３８ら つ ︐ ＾ ざ ｇ も ０ ¨ ・ζ ％ Ｆ ８９マ ︻ 二 ふ К ａ ８ ■ と ０３ β ● ′ ３ こ ■ ︶Ｆ ０ ８ ８ う ´暮 １ 減 羮 Ｖ ご ９ ８ ♭ Ｑ ざ ８ 玲 ８ 雙ろう ︐ ︐０ ま 員 ざ ３ ３． ぢツ Ｓ魚こ ３ ヽ ど ３ 望 奈ぬ塔 ■ ︐ ａ と こ ｇま 霧 Ｏ ｖ ０９ｇ４う ０りヽ ■Ｏ′ヽえＹヽ ︐０とマ ︐ ︐ ３０００マЖし０■３０ａ● ６５こ文４５０＾ ０９ ｏ９？る０００文史３２●¨ ︐ ︐ ９ ０ ● メ ● Ｉ ００ガ ｏｏ ｔＰ ｇＯ●３ う ０ じ え３● ωお ８ メ８︒ 一Кごゐ●３す０ ０︼ど 一 ３Ｒうだ８● ヽ８看姜覆バヽあ９ ｏＯｎｕ ︲え８ ね ８ 事 ０ど ァ ︐ ０ こ ３ ど ︐ 浄 ︐ 電 ョ タ υ ζ ヽ ３ ︱ ８ 旨 ど ね 晉 ８ ３ ︐ 落 １ こ１ 層 ⁚ な０ ︐ ︐ ｄ ｂζ ７ ０ ８ 湾 ス ● Ч ぶ ｏ ● だｏ つヽ こ ●と ２ ど ぅ と Ｐ 諄 Ｘ ３ ８ ８ ｇ Ｘ 電 Ｏ Ｐざ３ 口 甲 σ ︐ θ ♂ 彎 ０ ６ ｏ ９Ｃ レ ｑ晏 ８ うしご こ ど ０蒸●２８鴇●４︐ ＯИ３ ３こｇ ねねＬ０４ＬｏＦ ６る ＯσＯ多︼︶ ４鴇晏る３ ８ ２ると０■ｏ ３ ︐ ︐ ︑ こ ０ 口 ７ ２● ０﹂ ｏ ︐ ■５ど″υ嗅●やだｏ３● ●´う０３ ３ご０９こ７●ュを４ ︐ とつ６● ︐ ︐４ ︐ ９０ ８ ●０塔 ９■ ０ マご４８ｃＰＢ６８８３ 颯 ９猥０３ χ９●● ９４ねＬ ｎ■鬱颯 Ｐ ぎ８４ｏ ｎＣど ● メん ０４ ｒｏ 黎メＲ こ つ 分 ざ ９ 勁 Ｘ ３ Ｑ ■ 範 ご ′ メ ＾ を■８鴇 ン ０同︶ ● ９ ０ ０ こ︐ 二 ８ ︐ めｄ ９ ご ８ ４ ３︐ Ｆ ス こ︐一Ч ご ａ ′ ４ ＾ ︐ ｐじ １ る ９ ♂ま ３ｏ︑ ０毯 ８ ８♂ Я ０ ３′ ３ つ つ ＾ ｇ０３■■ ︐３月■ざ４ ５ ざＸ■ ド一 ａｇκ範Ｆ壕︶ ８ ︐ ︐ ︐ メ ヨ フ３ ｘ 甕 ︒Ｏｇ石０ ¨︑ め ００ ０９あ ４ ヽ ︲０︶バ０あ侵 ご ａＦ ８ ぬ ぇκ８α Ｏ名′ ０ ６５受を¨・ お２市ｕｇψ ヽン α 考えＦ ｄ瑣 ど ０口 ︲ ︐ ︐ ︐ ２レ Ｃ Ｐ ︐こ８ ︐ ︐４ ５ｃ こ ひ マ 洒 ф 場 ｑ′ Ｆ ａ ｏ ２ ｇ︐ ８ ｔ メ υＦ ｇ 層 ︐ 禽 び ぬ りＨ ３ ●ｏ ざ晏 Чｒ︐ ︐ ︐ ︐ ︐ ０ Ｙ う Ｐ と ■ ０ ９ ０ ３ ０ う ０ ｎ ０ り ご ■ 一 Ｏ α Ｏ ぬツと︑一Ч巖 ０ ９ ３ ぉ σ ● と ０ ？ こ Ｏ σ σ ■ ９ だ０ ︐ るｏ ８ ︐ ９ω︐ ０ し ｏ ｏ βぢ δセ ● ｏ ｏ Ｏ ６■円 ︐ ︐ ８ｏ３●４５０ わ 鷺８ス３０ ︹ ︐ ヾ 砂§るこＸ﹁メリ ●２ ＫＶ８ｏ 一 ンスだ×望ソ製︺´＾ｏｏ ＾ Ｖ３ＡＲ︸じスぃｏげ 晟ス％ヽ ︐ ︐ ︐︐ ￨ メ９ ０ ０８●熟︑´¨ち３３８０３ メ３ｑｊた ︒ 受ぃ ︐％ ︐９６４ ０喩ごつ４３０３１ ８９０ ● ′５７４ ´９ ︐ぅこヽ Ｃノｏ●●ソｖ ︐ ︐ ︑姜● ⊆∫０４３ｏｃ８９摯＆ｏと ︒２′９ ８５ ４２ ａ ２う史ダＯｏ宝すｑ ２０ｏ ｏ ヽこ ■２ｙａレ ぃゝ二 ⁚０つ ｏ ︐ ｏ σ ｂ Э′ ι Ｏｏ ■０ ０︐ ０σｑ 鳴 ９ズ︐ ォ ● ︒ 一 ︺ ｆ いＯ ｏ ７ ｏ９１ ３０ ０玄 Ｆ ａ 一 も σ ね０ Ｃう ｏ 女蜃 Ｐ ヽ ｏ Ｆ こ ｒ ３ ｐ ヽ Ｐ ひ 無 ざ︐ι ｒま す ｏＯＬしｏ ︐ ︱Ｉ Ｌ

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̀. LD 1885 FRAMEWORK LOAN AGREEMENT between COUNC:LOF[UROPE DEVELOPMENT BANK α″d GEORGIA Rehobilitotion ol Public Schools in Tbitisiond tnueosing Enerqy Elljciency S｀ 6′ C｀ じ APPEN01X 4 …… …… … ………… …… …… …… …… … ……… … …… … … 33 ● 0｀ 3 coul{clL oF EuRoPE DEVELOpMENT 8AllK, international organisation with its headquarters at 55, Avenue (l6ber, F'75116 Paris{France) (hereinafter, the "CtB" or the "Bank"), on the one hand, and GEOiGIA represented by the Ministry of Finance of Geortia (hereinafter, the "Bor.owe/' and totether with the CEB, the'Parties" and each a "ParV'), on the other hand, WHEREAs (A) HavinS re8ard to the loan apphcation submitted by Georgia on 23 February 2015, approved by the CE8's Administrative Councilon 17 March 2016, {B) Having regard to the Third Protocol to the General Agrcement on PrivileS€s and lmmunities of the Council of Europe dated 6 March 1959, (C) Having reBard to the CEB'5 loan Regulations, as adopted by the CEB'S Administrative Council Resolution 1552 (2013) (hereinafter, the "Lo.n n.tulatioB"), (O) Having reeard to the C€B's Loan and Proiect Financing Policy, as adopted by the CEB'S Administrative council Resolution 1552 (2013)(hereinafter, the "Loan PollcY"), (E) Having regard to the cEB's tnvironmental Policy. as adopted by the CE8's Administrative Council Resolution 1530 {2010) (hereinafter, the "Environmental Policy"), (F) Having regard to the CEB'S Procurement Guidelines, as adopted by the ctB's Administrative Council in september 2011 (hereinafter, the "Pio.urcincr* Guid.liner"), {Gl Having regard to lhe Trust Accouot Agreemenl between lhe CtB and rhe Xingdom of Spain dated 17 September 2OO9 establishing the Spanish Social Coh€sion Account (hereinafter, the "Spanish Soalal Cohesioh Accounf or "scA"), a5 amended from time to time, (hereinafter, the "SCA Atr€ement"), (H) Having reSard to the Funding Atreement between the CEB and the Europ€an Bank for Recon5truction and Development, as Fund Manag€r of the E5P ReSional Eund, dated 18 October 2016 settinB out the terms and condations of a financial contribution by the E5P Retional Fund to the Project (hereinafter, the "EsP G.rnt"), as amended from time to time, {hereinafter, the "ESPfundinl ASreement"), HEREBY AGREE AS FOTTOWS: . \.. [. 1. INTERPRETATION l.l Detinltlons The following terms shall have the meaning indicated below, except as the context requires Otherwi5€: "Agreerncne means thii framework loan agreement, includint its appendices. "Allocation" means the commitment ofa Tranche by the Borrcwer to the component parts of the project elitible under the Loan. "Allocation Period" has the meaning specifi€d under Sub<lauses.2. "Business Dat/ means: . . ln relation to payments in Euro, any day on which TARGET 2 (the Trans European Automatecl Reat-time Grogs settlement Express Transfer system)is operating; and ln relation to payments to be made in USD, any day on which (i) commercjal banks are open for buliness in the principal financial centre of the trnited States of America; and (ii) rhe TARGET 2 System (Trans_ €uropean Automated Realtime Gross Settlement Express Transfur System ) is operating. 'CloinC Date' means the date specified under Appendir I hereto from which no turther disbursements may be requested by the Eorrower. "Completion Report" has the meaning specified under Sub-ctause 6.1. "Curanq/ means, for the purposes ofthe Atreement, turo or USD. "Oay Count Conventlon" means th€ convention lor determining the number of days between two dates and the numberofdays in a year rpecified in the relevant Disbursement Notice. "Dcbt lnstrumenf means (i) any loan or other lorm of flnancial indebtedness; (ii) an instrum€nt, including any receipt or statement of account, evidencint or constituting an obliBation to repay a loan, deposit, advance or similar extension of credit (includinB without limitation any extension of credit under a refinancint or rescheduling agreemeht), (iii) a bond, note, debt security, debenture or similar written evidence of financial indebtednes5; or (iv)an instrument evidencint a guarantee ofan obligation constituting financial indebtedness of another. "Default I nterest Rate" has the meaning specified under Sub-clau5e 4.9. "oisbursement Date" means the date on which a Tranche is scheduled to be disbursed pursuant to the applicable 0isbursement Notice. "DlsbuE€me Notice' has the meanint specified under Sub,clau5e 4.3 (b). (Disbuncment Requesf has the meaning specified unde. Sub-clause 4.3 (a). "Early Relmbursement Confi,mation' has the meanint specified under Sub-clause 4.7. "Early Raimbursem€ht Costs" hasthe meaning specified under5ub-clause 4.7. nEarly R€imburraltl€nt Date" has the meanint specilied under SuEclause 4.7. c\ Gs "Early Reimb!Eement Notlae" has the meaning specified under Sub-clause 4.7. '€floclive Oate" means the date ofentry into force ofthe ASreement resultinS from Claus€ 17. 'EU" means the European Union. "EU Procuremenl Oirectives" has the meaning specified under Sub-clause 5.5. "EURIBOR" means the percentate 'ate pe. onnum quoted on the paSe EURIBORO1 of the Thomson Reuters screen (or on a successor page which replaaes the Thomson Reuters,page tURtBOROl) al or about 11 a.m. Brussels time on the rnterest Determination Date as the E!rc interbank offered rat€ administrated by the European Money Market lnstitute (or any other entity which takes over the administration of that rate) for the Same period as the relevant lnterest Pedod_ lf the relevant rnterest Period is not the same as a period quoted by Thomson Reuters, the applicable EURIBoR shall be the percentate rate per ornum resulting from a linear inteeolalion by reference to two (2) EURIBOR rates for Euro term deposits, one of which is applicable for a period of whole months next shorter and the other for a period ofwhole months next longer than the length of the relevant lnterest period. "Euro" and the sign "EUR" means the laMul currency of the Member States of the EU which from time to time adopt it as their currency in accordance with the relevant provisions of the Treaty ofthe EU and the Ireaty on the Functioning of the EU or their succeeding treatiet_ "European Conveitlon on Human Rithts' means the Convention for the protection of Human Rights and Fundamental Freedoms dated 4 November 1950, CETS n' 5, as amended from time to time. "Eurcpean So.ial Chaner'means the European soci.l Chaner dated 3 May 1996, CEfS ne1GJ, a5 amended from tim€ to t me "EsP"means the Eastern Europe €neGy Efficiency and Environment partnership, an initiative the swedish authorities proposed in the context of its Presidency ofthe €uropean union commencing luly 2009 which brings totether the €u Eastern Pa(nership count.ies {as Recipient countries), the European union represented by the (EU) European Commission and bilateral donors (as Contributors), and the international financial institution! {lfls) adive in the region (as lmplementing Agencies) to coordinate and accelerate the implementation of anergy efficiency and environmental proiects, resulting in a signifirant enerty savints, reduction of carbon dioxide (co2) and other greenhouse gas (GHG) emissions. "Final 8€neficiaries" are specilied under Appendix t hereto as the group benefitting fiom the so.iat effects of the Project. "Fixed lntcrest Rate" means the interest rate peronrum specified in the applicabl€ Disbursement Notice. r'Floating lnterest Rate" mean5 the interest ,ale pet onnum determined by addin8 0r rubtracting the spread specified in the applicable Disbursement Notice to orfrom, asthe ca5e may be, the Reference Rate. For the avoidan€e of doubt, wh€n the dete.mination of the Floatint lnterest Rate results in a netative intere5t rate (due to a quoted netative Reference Rate, to the operation of a Spread that is subtracted from the Reference Rate or to any other (ircumstances), the interest to be paid by the Borower for the tnterest Period shall be deemed to be u ero. "lnterest Determination Date" means, for the purposes of determination of a Floatint tnterest Rate, the day fallint two (2) Business Days prior to the first day ofthe lnterest Period, unless otherwise specified in the relevant Disbursement Notice. Q｀ 滲 6 'rlnterest Paynent Datas" means the dates for the payment of interest corresponding to the relevant tnterest Period specified in the applicable Disbursement Notice. "lnterest Perlod" means the period Eohmencing on an lnterest payment Date and endine on the day immediately prior to the following tnterest Payment Date, provided that the first tnterest period applicable to each rranche shall commence on the Dirbursement oate and end on the day immediately prior to the next lnterest Payment Date. "[oan" means the loan tranted to the Borrower by the CEB by means ofthe Agreement. uloan Amount" means the amount specafied under sub-ctause 4.1. 'Market Oisruption Evenf has th€ meaniry specified under Sub-claus€ 4.10. "Malerial Adverse Chante'mean5 any event which, in CEB,S reasonable opinion, (i) materially impairs the Borrowe!'s ability to p€rform its financial obligations unde. the Agreement; or (ii) adversely affects any Security provided by the Eorrower to secure the due peaformance of the Bo(owe/s financial obligations under the ASreement. "Malurity Date" means the last Prancipal Repayment Date for each Tranche speci{ied in the applicable Disbursement Notice. 'Modified followint Business Dav Convention" means a convention whereby if a specified date would fall on a day which is not a Business Day, such date would be the flrst following day that is a Business Day untess that day falls in th€ next cal€ndar month, in whlch case that date would be the first preceding day that is a Business Oay. 'P.in ipal Repeyrnent Date(.)" means the date(s) for the repaymenr{s) of principal under each Tranche specified in the applicable Oisbur5ement Notice. "Prin ipil R€payment Pariod' means with respe.t of each rGnche the period runnin8 from its Disbursement Date to its MaturitY Date. "ProSrers Repoa" hasthe meanint specified under Sub-clause 6.1{a). "prohibitcd Pr.ctices" has the meanint specified under Sub,clause S.g. "Project' meant the eligibre invettment sch€mes set forth under Appendixl to be panially financed with the toan approved by the CE8's Administrative Council with ref. tO 1866. "Proiect lmplementlry Entitlf (her€inafter, the "ptE") means the tetat entity that, by dele8ation of the Borrower, is in charge ofth€ implementation of the Project. "Proiect lmplementinS Unit'' (hereinafter, the "ptt ") means the team appointed by the ptE in charge of the dayto-day mana8ehent of the Project"Project€d State of Progress of Work5' means the ratio of elagible expenditures, for all the romponent parts of the Project, to total eli8ible cost of the Project, where eligible erpenditures include already-incured expenditures as wellas those ihat are expected to be incurred for a determined period of time not exceeding one (1)year from the date ofthe last Progress Report. "Raference Rrte'maans EURIEOR [ora Floatint lnterest Rate Tranche denominated in Euro. "Security" means any agreement or arran8ement creating a prelerential ranl, a preferential right of payment, a collateralor guarantee of any nature whatsoever which might conferenhanced ri8hts upon third parties. rl' (.i" "spanish social coheslon acaounr means an accouot estabrished at the cEB by the KinSdom of spain for the purpose of supportang the sociar cohesion objectives pursued by focuson its tartet countriet by providing technicalassistance the cEB in its Member states, with a speciar trants. "Spra.d'means, in connection with a FloatinS lnterest Rate Tranche, the fixed-spread to the Refu.ence Rate (bein8 either plus or minus) specified in basis poinls tn the applicable Disbursement Notice. "state of Progress of works" means the ratio of alrcady-incurred erigible expenditures, for alr the component parts ofthe Proiect, to toraletigibte cost ofthe proiect. Sranche" means an amount disbursed or to be disbursed under lhe toan. "U.S. Dolla/', "Dollar", "U.S.S", "S" and "USD" each means the laMut curency ofthe United States of America. "usD_u8oR" means the rate for deposits in u.s. oollars determined by the British Banlers Association every working day in [ondon at 11 a.m. and published on Reute.s pa8e USOUBOR th€ percenlage rate per annum quoted on Reuters' paSe usDLrBoR (or on a successor page which repraces Reuters page usDUgoRlat or about 11.45 a.m. London time on the lntercst Determination Date as the usD interbanl offered rate administered by ICE Benchmark Administration Limited (or any other entity which taker over the administration of that rate) for the same period as the relevant lnterest pedod. lf ihe relevant rnterest Period is not the same as a period quoted by Reuters, the applicable l_lsD-uBoR shall be the percentage rate per annum resultint lrom a linear interpolation by reference to two (2) usD-LrBoR rates for usD term deposits, one of which is applicable for a period of whole months next shorter and the other for a period of whole months next lonSer than the length ofthe relevant lnterest period. L.2 Const.uctlon Unless the context otherwise requares, references to: a) this Agreement shall be construed as rcferences to this Agreement as supplemented, amended or rcstated from time to time; b) "crauses", "sub-crau5es" and "Recitars" sha[ be construed as references to crauses. sub,crauses and recitals respectively ofthis Atreement; and c) words importing the singular shall include the plu6land vice-versa. 1,3 HeadinBs HeadinSs in thisAgreement have no legalsignificance and do not affect its interpretation. 1.4 Rounding For the purposes of any calculationj referred to in this Atreement: (a) arr perceotates resultint lrom such carculations other than those determined throuSh the use of interporation wirr be rounded, if neces5ary, to the nearest one hundred-thousandth or a percentate poinr (e.8., 9.876s1% (or.09876541) being rounded down to 9.87654% (or .0987654) and 9.876545% (or .09876545) being rounded up to 9.87655% (or.0S87655)); (b) arr percentages determined through the use of rinear interporation by reference to two (2) rerevant Reference Rates wirr be rounded, if necessary, in accordance with the method (a) above, but to the same detree of accuracy as the two (2) Gl0 ser forth in subsection rates u5ed to make the determination G8 (except that such percentages will not be rounded to a lowerdegree of accuracythan lhe nearest one thouiandth of a percentage point (0.m1%)); and (a) all currency amounts used in or resuhing ,rom the above catculations wilt be rounded, unless otherwis€ specified in the relevant Currency definition, to the nearest two decimal places in the relevant curency (with.OO5 beint rounded upwards (e.8.,.674 being rounded down to .67 and.675 b€int rounded up to .58). 2. CONDTTTONS The Loan is granted under the general conditions of the toan Regulations and under the special conditions ofthe ABreement. PURpOsE The CEB trants the [oan to the Borrower, who accepts it, solely for the purpose of financing the project as described under Appendix t herelo. Any change to the way the Loan is applied that has not received the ctB's approval would constitute an event in the terms of Article 3.3 (h) of the Loan Regulations and may tive rise to the early reimbursement, suspension or aancellation of the loan under the terms of Articles3_3lEo y reimbusement of disbursed toont),3.5 \suspension bythe Eonk ol undisbutsed loons) and 3.6 lconcellotion by the Bonk of undisbursed loonsl ol lhe Loan ReSulations. 4. tlt{ANClALCONDlTlOtrls 4.1 Loan Amount The toan Amount iql Fourteen million Euros EUR 14 000 000 lf a Tranche is disbursed in a Currency oth€r then the one in which the toan Amount is denominated, the calculation of the undisbursed balance undea the Loan shall be computed on the baJis of the exchange rate quoted by the European central Bank on the Businers Day preceding the issuance of the relevant Disbursement Notice. 42 Disbu6ement Amount The Loan shallbe disbursed in a minimum oftwo (2)Tranches. The amounl of each Tranche shall be dptermined accordin8 to the State of Progress of Works and/or the Projected State of Progress of Works. The amount of the first Tranche shall not excced fifty per cent (50yo) of the 4.t DlsbuEem€ntProcedure The disbursement ofeach Tranche is determined through the followint procedure: (a) Di5bursement Request Prior to each disbursement, the Borrower shalt submit to the CEB a disbursement requesl substantially in the form sel out under Appendar 3 hereto (herejnafter, a .Dijburs€mant Request,). $, A Disbursement Request 5hall specify the proposed: (i) (ii) Currency(iei)and.mount(s)fortheTranche; Disbursement Date; such Disbu.sement Date shall be a Business Day falting at least five (S) Eusine5s Days but not later than twenty (20) Businesr Days after the date of the Disbursement Request; Principal Repayment Oate15), including the Maturity Date, t.king into account that the Principal Repayment Period for each Tranche shall not exceed twenty (20) years including a gnce period not g.€aterthan five (5)years; (iV) maximum Fixed lnterest Rate or maximum Spread to the Reference Rate; (v) lnterest Period and lnterest Payment Dates; (V) Day Count Convention and Business Oays; and (V) Borrowe/s account for payments. Each Disbursement Request delivered to the cEB shall be irrevocable, unless otherwiie agreed in \uriting by the cE8. (b) Disbursement Notice lf the c[B receives a Disbursement Request that complies vrith the Diibursement Request requirements sel out SuFclause 4.3(alabove, and if all other relevant Disbursement Conditons ar defined in Sub,clause 4.s lDisbursefient conditioni) below have been funbd by the Borrow€r, the ctB shall deliver to the Borrower a disbuEement notice substantially in the form set out under Appendix 3 hereto (hereinafter, a "DiibuB€ment l{otice"). tach Disburs€ment Notice shall be delivered at least two (2) gusiness oays before the proposed 0isburs€ment Oate. A Disburselnent Notice shall specify: (i) Currency{ies)andamount(s)fortheTranche; (ii) DisbursementDate; (iii) Principal Repayment period and principal Repayment Date(s). Includin8 the tr,lBturity Date; (iv) Fix€d tnterest Rate or Spread to the Ref€rence Rate; {v) loterest period and lnterest payment Dates; (vi) Day Count Convention and Business Days; and (vii) Borrowe/sand CEB.5 accounts Ior payments. lf the Bofiower has submitted to the ctg a Disbursement Requert in which the Borrower has not proposed a tixed Interest Rate or a Floatint tnterest Rate, the Borrower shall be deemed to atree in advance to the one subsequently specified by the CEB in the Disbursement Notice. A Disbursement Notice malahing the eiements included in a Disburrement Request shall constitute an irrevocable and unconditional commitment on the paft of the Borrower to borrow from the cEB and on the part of the cEg to disburse to the Eorrower the Tranche under thetermsand conditions specified in the Disbursement Notice. Notwithstanding the above, if the cEB has not detivered a Disbursement Notice within twenty (20) Business Days followint the receipt of a Disbursement Request, the relevant oisbursement Requen shall be deemed as cancelled. 10 ιト 4.4 DisbursementPerlod unlessotherwise agreed in writinS bythe CtB, the Borrower shallnot be entitled toi (a) the issue of a Disbursement Request for the first Tranche Effective Date; beyond twelve (12) months after the (b) the issue of any funhe. Disbursement Request beyond euhteen (1E) months after the laat di5bursement;or (c) the issue of any further Disbursement Request beyond the hereto. Closing Date specjfaed under Appendir 1 力● Oisbursem€nt Condltlons (a) Conditions precedent to the Dlsbursement Request for the flrlt Tranche: {il Legalopinion in EnSrish issued by the Minirtry ofJustice confirming to the cEB,s satisfaction, substantaally in the form set out under Appehdix 2 hereto, that the Agreement has been duly executed by authorised representatives of the Eorrower and that the Agreement is varid, binding and enforceabh in accordance with its terms in the Sorrowe/j juri;iction. (ii) Evidence in Engtish (e9., Statute, By_laws, Board Resolution, power of Attorney. etc.) to the CEB's satisfaction of the person{s) authorised to erecute the Agreement and the Di5bursement Requests on behalf ofthe Borrower, to8ether with the auth]enticated specimen ofthe siSnature(s) ol such person(s). (iii) Any other condition specified under Appendix 1 (-Specific Conditaons,,). (b) Conditions precedent to any further Disbursement Request: (i) ln the event there has been a change reSarding the person(s) authorised to execute Disburjement Requests on behalf of the gorrower, the Borrower 5hall provide CtB with udated evidence of the person(s) authorised to execute the correspondint Disbursement Requests on behatf of ihe Borrower, together with the authenticated specimen of the signature(s) of such person(s). (ii) Protress Repo.t confirminS to the ctB's satisfaction the Allocation of at le.st ninety percent {90%)of the previo us Tranche. 4.6 R.payment on any Principal Repaymeni Date, the Eorower shall repay the principal of each rranche due on that principal Repayment Date in accordance with the terms set forth in the appllcable Disburs€ment Notice. 4.1 EarlyReimbursemant (a) Mechanics lf in any event specified in this agreement reterring to this sub crause the Borrower outht to reimburse prior to maturity alr or pan ol a Tranche, the Borower sh. give at reast a one (1) month prior written notice to the cEB (hereinafter, the "Early Relnbu6ement l{oti.e") specifying the amounts to be reimb!rsed, the date on which the reimbursement will take place (hereinafter, the'Ea.ly Reinburs,em€nt Date,') and, upon prior consultation with the cEB, the maximum Early Reimbursement costs. The tariy Reimbursement Date shall fall on an rnterest Payment Date, unlessotherwi!€ atreed in writinB by th€ CEB. .b. h, 11 upon receipt of th€ Early Reimbursement Notice, the cEB shall send a written notice to the Borrower (hereinafter, the "Eerh R€lmbursem.nt Conlirmatbn,,), not tater than five (5) gusiness Days prior to the Reimbursement Date, indirating the accrued interesr due thereon and the Earry Reimbursement costs in accordance with 5ub-clause 4.7 (b). An Early Reimbursement Confirmation matchinS the elements included in an Early Reimbursement Notice shall constitute an irrevocable and unconditional commitment on the part of the Borrower to reimburse the relevant amounts io the cEB underthe terms and conditions specified in the Early Reimbursement confirmation. lf the Sorrower panially reimburses a Tranche, the rci,nburted amount shalr be applied pro rcto ro each outstandin8 principal repayment. ln such an event, the tarly Reimbursement Confirmation shall accordingly include an adjusted repayment schedule which shall be bindint on the Borrower. (b) [arly Reimbursement Costs The Early Reimbursement costs resulting from early relmbursement in accordance with sub-crause 4.7(a) shall be determined by the cEB on the basis of the costs to it of redeployirE the amount to be reimburied from the Early Reimbursement oate to the Maturity Date, includint any related costs, such a5 unwinding any underrying hedginS arrangements The costs of redeployment will be establashed on the basis of the difference between the oritjnal rate and the redeployment rate, which shall b€ determified by the cEg on the basis of market conditions on the date ofthe tarly Reimbursement Notice. 4.8 lnterestDetc.rnination The Bofiower sharl pay interest on the principal of each rranche from time to time outstandin8 during each lnterest Period at the Fixed lnterest Rate/Floating rnrerest Rate specified in the applicable Disburlement Notice. rnterest shal (i) accru€ from and incruding the first day ofthe rnterest period to but excruding the last day ofsuch rnterest Peiod; and (ii) be due and payabre on rhe rnterest payment Dates specified in the appricabre Disbursement Notice. rnterest shall be cahulated on the basis of the Day count convention specified in the relevant Disbursement Notice, ln the case of Floatint lnterest Rale Tranches, the cEB shall determine on each tnterest oetermanation oate the interest rate appricabre dt/rin8 the rerevant rnterest period in accordan(e with rhe Agreement and promptry Sive notice thereof to the Borrower. Each deiermination by the cE8 shal be finar, conclsive and bandint upon the Borrower unless shown by the Borrower ro the satishction of ['" cEB th.t any such man;fest error. 49 determination has invoMed oefault lnterest Rat€ ln the event that the Borrower fails to pay, in lull or in part, any amount under the ASreemen! and notwithstanding any other recourse available to the cEB under the Agreement or otherwise, the Borrower shali pay interest on such unpaid amounts from the due date until the date of receipt of ruch payment by the Ctg at the interest rate per onrum equal to the one,month EURTBOR (for unpaid amounts due in EUR), or as the case may be, one month USD-LlBoR(for unpaid amounts due in LJSD) quoted on th€ due date plus two hundred and fifty basis points (250 bps)(hereinafter, the "Oel..utt tnt restR.te.,). The applicable oehult lnterest Rate shall be updated every thiny (30) catendar days. 4.10 Nlark€t Disruption Event The CEB shall promptly, upon becomint aware of it, notify to the Borrower that a Market Disruption Eveot har occurred. For the purposes ofthe Atreement, "MarLet Dbruption Eyenf refers to the following circumstances: ι｀ 0 12 (a) The Reuters page ref€rred to under the EURIBOR/USO-LIBOR does not indicate the required details or is not acceslibl€- Under such a Market Oisruption Event, the appticable EURTBOR/USO-L|BOR sha be the percentage rate per onnum determined by the CEB to be the arithmetic mean of the rates et which loans in Euro/U.S. Dollart in an amount identical or nearert comparable to the Loan amount in question and for a period identical or nearest comparable to the relative tnterest Period. are offered on the tntered Determination Date by three (3) leading bants in the EU/London interbank market selected by the CEB. tf at least two (2J quotations are provided, the applicable EURIBOR/USD_l-l8OR for that lnterest Oetermination Date shall be the arithmetic mean of all quotations provided. lf only one (1) or no quotataon is provided, the applicabte EURIBOR/USO-L|BOR sha{ be the percentate rate F,er onnum determined by the CEB to be the arithmetic mean of the rates at which loans in Euro/U.s.oollar5 in an amount identical or nearest comparable to the Loan amount in question and ior a period ldentical or nearest compa.able to the relative lnterest Period, are offered on the second Business Day after the betinning olthe relevant lnterest period by major banks in the EU/London interbank market setected by the C€8. (b) The CEB determines that it is not possibte to determine the applicable Refe.ence Rate in accordance with paragraph (a) above Under such a Market oisruption [vent, the appticabte Ftoatint tnterest Rate shall be replaced by the rate that expresses as a percenlage rate per orrurn the cost to the CtB of fundint the l-oan from whatever source the CEB may reasonabv select. (c) At any time between the delivery of a Disburs€ment Notice and the Disbu.sement Date the CEB leasonably determine5 that there are exceptional and Llnexpected circumstanae5 of an economic, financial, political or other external naturc adverrety aftecting the CEB,' access to its sources of funding. t,nder guch a Market Disruption Event, the CEB stlall be entitled to cancel at no cost the saheduled dasbu.semEnt ln the case ofthe Marlet Disruption Events set forth under items (a)and (b)above: (i) rf the Borrower 50 requkes, the parties, acting in good hith, shall enter into negotiations for a period of not mo.e than thirty (30) calendar days in order to agree on an alternative to the applicable EURTBOR/USD-L|BOR. tf no agreement i! reached. the Bofiower may proceed with early reimbur'ement on the next lnterest payment Date in the term5 provided under Sub clause 4.1 . (ii) The CES shall have the right, acting in tood faith and in consuttation with the Borrow€r to the extent reasonably practicable, to change the duration of any subsequent tnterest period to thiny (30) calendar days or less by sendint to the Borrower a notice thereof. Any such change to an tnterest Period shalltake effect on the date specified by the CEB in such notice. lf the cEB determines that the relevant Market Disruption Event no lonSer exists, then, subject to any further Market oisruption Event occurring or existing, the Floating rnterest Rate and/or rnterest period applicable io any relevant Tranche shallreven, from the first day ofthe following lnterest Period to being calculated in accordance with the floatiot lnterest Rate and lnterest period specilied in the relevant Disbursement Notice. ′︑ ヽ ′ 4.11 Payments All the amounts due by the Borrowe. under this Atreement are payable in the Currency of each Tranche to the CEB'5 account indicated in the applicable Oisbursement Notice. Any payment underthis Agreement shallbe made on a Business Day subject to the Modified Following Business Day Convention_ Any payment shall b€ deemed paid when the CE8 ha9 received the amount on its account, The Borrower or the bank instructed by the Borrower, as the case may be, shall 5end a writien payment notice to the CEBat least five (5) Business Days before payment of any amounts due under this A8reement. 5 pROIECTI MPLEMENTAT10N The Borrower shall implement the Project ln accordance with the Agreement. The Borrower, through the Ministry of Education and Science, dasi8nate! selected th€ tducationaland Scientific lnfrastructure Development Atency (ESIDA) a5 the PlE. The Borrower, through the Ministry of Education and Scienc€. shall eBure that the PIE desitnates the Plt appropriately staffed and equipped throu8hout the project implementation period. ln any event, the gorrower remain5 rolely liable to comply with its obligations under the Agreement. Failure to comply with the Prorect lmplem€ntation undenakints set forth hereby under Clause 5 would constitute, irrespective of any other applicable provision of the Loan Regulations, an event in the terms ofAnicle 3.3 (h) of the Loan ReSulations and may Sive rise to (i) the relevant contract expenditure declared ineligible for Allocation under th€ Project; and/or (ii)the early reimbursement, suspension orcancellation ofth€ toan, in whole or in part, under the terms of Articles 3.3 {forry rcimbu$ement ol disbursed loonsl,3.5 lsuspension by the Bonk of undisbused loonsl and 3,6 lconcellotion by the Eonk ol mdisbu5ed loonsl of t he t-oa n Ret utatiofl 5. 5.1 Duty ol care The Borrower shall apply all cire and diligence, and shall exercLse all typically used means (including, but not limited to, legal, financial, manaterial and technical means) required for the proper implem€ntation of the Project. 52 Allocation Period The Borrower shall allocate each Tranche to the projed within twelve (12) months after the relevant Disbursement Date (the "Allocation Period"). lf a Tranche disbursed by the CEg is not allocated to the projector is only partially allo(ated to it within the Allocation Period, the Borrower shall reimburse the unallocated amounts to the CEB in aacordance with Subclause 4.7. 5.3 Project Costs The Tranches disburs€d under the Loan shall not exceed seventy per cent {70%) of the total elitible costs of lhe Project. lf the Tran.hes disbursed under the Loan exceed the above 70% (by reduction ofthe total eligible costs or otherwise), the Eorrower shall reimburse the surplus to the CEB in aacordance with Sub,clause 4.7. Should the total elitible co5ts of the Project increase or be revised Ior whatever reason, the Eorrower shallen5ure that the additionalfinancial resources for the completion ofthe Project are available without recourse to the CEB The plans to linance the increased costs shall be communicated to the CEB vrithout delay. q! L 14 5.4 Proiect Speclflc Undertaklngs The Borrower 5hall ensure that: (a) (b) (c) 5.5 all the land, real property rithts and permits required for the implementation of the project are timely available; all assels and plants under the ProFct are permanently insured and maintained in accordance with international b€5t practices; and any other requirement sp€cified in Appendix 1 {"Specific Condilions") hereto is complied with. Proau,ement Procurem€nt of supplies, works and services to be financed under the Project shall comply with the Procurement Guidelines. The thresholds above which the Borrower shall be requi.ed to obtain flpplies, works and seNices through international procurement pro€edures are the ones applicable under the relevant IU Procurem€nt Directives, a5 updated from time to time and published in the Official Jo urna I of the European union (OJEU). For lhe purposes of the Atreement: "EU Procurement Directives" refe6 to (i) okective 2004/17lEc of the European Parliament and of rhe Council of 31 March 2004, coordinating the procurement prccedures of €ntities operatint in the wate., ener8y, transport and postalservi(es sectors; and/or (ii)Directive 2004/18/EC ofthe European Padiament and of the Council of 31 t arch 2001, on the coordination of procedures for the award of public wo*s contracts, public supply contracts and public serviae contracts, asamended from time to time. The Procurement Plan (as such term is defined undea the Procurement Guidelineg) (and any update thereof) indaaatint the procurement methods for each contract shall be submitted to the CtB for approval. Upon receipt, the CEB willinlorm the Bo(ower ot the scope oI review that CEB willcarryout for each contract. The Borrower shalladopt reasonable measures, in accordance with ir relevant policiesand procedures, to ensure that potentaal candidates or tenderers shall be excluded from the participation ln a procurement or award procedure financed by the resources o, the Loan or the E5P Grant if they are bankrupt or being wound up, are havingtheir affairs administered by the courts, have entered into an aranSement with creditors, have susp€nded busines5 activities, are the subject of proceedints concernint those matters, or are an any analotous situation arising from a similar procedure provided lor in national leSislation or regulations_ 5.6 Environment The Borrower shall implement the Project in conformity with the requirements set forth in the Environmental Policy. ln particular, should any investment scheme under the project require an Environmental lmpact Assessment {ElA) in accordance with the Environmental policy, the Borrower shall require the CtB,s prior approval before proposing the Allo{ation of the Loan to such a scheme_ 5.7 Human Rights The Eorrower shall ensure that the implementation of the project will not give rise to a violation of (i) the European Convention on Human Rithts; or (ii) the European SocialChaner. L C, G 5.8 lntegrity The Borrower undenakes that: it will lnstitute and thereafter comply with internal policies, procedures and controls, in line with applicable leEislation and internationalbest practiaes. forthe purpose of preventinB the Borrower from becoming an instrument ror money launderint or terrorism financinS; in particular, reBardint terorism financin8, it will ensure that no transaction is entered with, or for the benefit of, any of the individualj or institutions named on the lists of 5anctioned persons promul8ated by the United Nations Security Council or ils committees pu6uant to Secudty Council Resolutions 1267 (1999), 1373 (2m1) (available at hrrp:/www-un.or&/terro.ism), as updated from im€ to time, and/or by the Council of the tU puBuant to its Common Positions 2OO1/931/CSFP and 2m2/402/CSFP and thear related or successor resolutions and/or implementing acts; it will not use the proceeds of the Loan or ihe E5P Grant for payment to persons or entities or for any import of goods, if suah payment or import is prohibited by a decision of the United Nations Security Council taken under Chapter Vll of the Charter of the united Nations (a5 persons or entities, or suppliers offerint toods and seNices, covered by such prohibitions are not be elitible for the award ofcontracts financed with prcceed5 ofthe Loan or the E5P Grant; and it will not commit, and no person/ wiih its consent or prior knowledge, will commit, in connection with the implementation of the Pro.i€ct or the erecution of any contract under the Project a Corrupt, Fraudulent, Coercive, Collusive, or Obstructive Practice, a Misuse of th€ Resources or a Theft (hereinafter, jointly referred to as the "ProhibiH Pr.dices"). For the purposes of this Agreement: A "Corrupt Pl-actlcc' means the offerin& tiving, reaeivinS, or solicitinB, dhectly or indirectly, anythint ofvalue to influence improperly the aations of another party. A "FEudulent Practke" means any act or omission, including a misrepresentation, that knorvintly or recklesSly misleads, or attempts to mislead, a party to obtain a finanaial or other bene1lt, orto avoid an obligation. A "Co€raive Pr&tice" means impairiog or harmin& or threatening to impair or harm, directly or indirectly, any party or the property of the party to influence improperly the actions of a party. A "Collusive Practice" ir an arranBement between two or more partles designed to achieve an improper purpose, including influencing improperly the actlons of another party. (v) A "Miluie of the Resources" means improper use of the resources, committed either intentionally or through reckhss disregard. An "obstruative Practice" means (a) destroyiog, falsifyin& altering or concealing of evidence material to a Bank investiSation, which impedes the Bank's investiSation; (b) making false statements to investitators in order to materially impede n gank investi8ation into alle8ation. of a Prohibited Practice; (c) hilint to comply with requests to provftre information, documents or records in connection with a Banl investiSation; (d) threatenint, harassing or intimidatin8 any party to prevent it from disclosinB its knowledge of matte15 relevant to a Bank investigation or from pursuing the investigation; or (e) materially impedinS the erercise oI the Bank's contractual riShtt of audit or inspection or acess to information; and rt (Vl) A "Theft- means the misappropriation of property belongint to another party. The Borrower undedakes io inform cEB if it should become aware of any fact or information suSSestive of the commission of any such Prohibited practice. tor this purpose, the knowredge of any member of the plu shal be deemed the knowledge ofthe Borrower. The Borrower undenales: {i} to take timely such action as the CEB may reasonabty request to investigate and/or terminate any alleged oreuspeded prohibited practice; (ii) to inform the CEB of the measures taten to seek damages from the persons responsible for any loss resulting frofi any such prohibited practice; and (iii) to faailitate any investiSation that the CEB may make concerning any such act. The Director o, EsrDA and the Representative of EsroA shal be responsibre for contact5 purposes of this sub-clat/5e. with the cEB for the 5.9 visibility The Borrower, throu8h the Ministry of Education and scaence, shaI inform the Finar Beneficiaries thal the project is partly financed by the cEB throuSh appropriate means of communication such as dedicated notices in relevant websites, press releases, brochures or the exhibit of billboards/plates on relevant project sitesfacilities. ln any case, information giv€n to the Finar Eeneficiari€s shal dispray in an appropriate way the cEB,s name and rogo. ６ MOI{ITORIN6 ６ Reponlng (a) Progress Reporls The Borrower, throuth the ptE, shall send to the CEB , proSress report (her€inafter, quarterly basis, untilthe ful Allocation ofthe disbursed rranches; a ,progress Report") (i) on a and (ii) prior to every Disbursement Requ€st. Appendir 4 hereto provides a template specifyint the minimum infofihation required by the CEB, including narrative progress report and monitorint tables addressint: (il project costs and (li) progress of the Project's financint and procurement planrj(iii) Calendar works in terms of physical advancement ; (iv)Techna.al indicators expenditures ; the of works and progress ot Alternative formati containint the same information may also be used. (b) Completion Repon Upon completion of the Project, the Borrower, throuSh the ptE, shall submit a completion rcport {hereinafter, a "completion Reporf') includinS an appraisal of the project's technical. economic, soci.t and environmental impacts. Appendir 4 hereto provides a templ.te specil,ing the minimum information required by the Ctg, narrative progress report and the monitoring repoats. ^\ \r, including the 6 62 V sits The Borrower, through the Mini5try of Educrtion and Science, undertakes to favourably receive any monitorin&/technicayevaluation visits, includinS by facilitating access to relevant project sites/contractors, carried out byrhe CEB's staff membersor desi8nated third Darties. 53 Aud t The Borrower undertakes to provide to the CE8, on an annual basis, an audit opinion on the Special Account provided by an international independent externalauditor. Such external auditor shall have been contracted by the Borrower throlrgh the PlE. lf the audit costs are funded with the proceeds of the Loan, the Borrower undenakes that it willcontract such auditor in compliance with CE8's Procurement Guidelines. Should the Borrower, fail to comply with any of its undertalint5 under the A8reement, the Borrower, undertakes to favourably receive arry on-iite audit, c.rried out by the CEB's staff members or designated third panies, which shallbe at the Borrowe/s expense. 64 Proj€ct lnformalion The gorrower, through the PlE, shall keep accountinS records concerning the Project, which shall be in conformity with international standards, showing, at any point in time, the project's state of progress, and which 5hall record all operations made and adentiry the assets and seNices partially flnanced with the Loan. The Borower, throuth the PlE, shall deliver to the CEB in a timely manner any information or document conceminS the financint or the implementation (includang in particular environmental and procurement hsues)of the Project as the CEB may reasonabv require. The gorrower shall inform the CEB immediately of any event that may have a material adverse ampact on the implementation ofthe Project, including but not limited to: (i) any action or protest initiated or any objection raised by any third pa(y or any Benuine complaint received by th€ Borrower or any material litigation that is commenced or threatened agaanst it with regard to procurement or environmental or other matters affecling the project; and (ii) any enactment oI or any amendment to any law, rule or regulation (or in the application or officialinterpretation ofany law, rule or retulation), Any event that may have a material adverse impact on the implementation of the Project would constitute an event in the lerms of Article 3.3 (h) of the Loan Retulations and may tive rise to the early reimbursement, suspension or cancellation of the loan under the terms ot Articles 3.3 (Eo y reimbursement ol ditbursed loont), 3.5 lsus,€nsion by the Eonk of undisbursed loons) and 3.6 lconcellotion by the Bonk ol undisbutsed /oors) of the Loan Re8ulatlons. こ０ Eorrower lnfolmation The Borrower shall inform the CEB immediately of any Material Adverse Chante. Any Material Adverse Change would constitute an event in the terms oI Article 3.3 (h) of the Loan Regulations and may give rise to the early reimbursemeni, susp€nsion or cancellation of the loan under the terms of A(icles 3.3 (forry reimbursement ol disbuqed loonsl, 3.5 lsuspension by the Bonk ol undisbwsed ioorj) and 3.6 lcon.ellotion by the Bonk ol undisbwsed loons) ol lhe Loan Regulations. _b. t, こ B Cross-Default fte fact that, followint any defaurt in rerarion thereto, the Borro$/er is required or ir capabre of being required or will, followinS expiry of any applicable contractual grace pe.iod, be required or be capable of being required to prepay, repay or terminate ahead of maturity any Debt tnstrulnent or any commitment in connection with a Debt lnstruhent is cancelled or suspended, would constitute an event in the terms 0f article 3.3 (h) of the Loan Regulations and may tive rise to ihe suspension, cancellation or early reimbursement ofthe loan under the term, of Articles 3.3 (Eorly rerim bursenent ol disbursed loons'|,3.s (sus8nsion by the Bonk ol undisbursed /oorJ) and 3.6 lconcellotion by the Bonk ol undisbursed loons) of the Loan ReSulations. 7 PAR!PASSu Failure to comply with the provisions s€t forth hereby under clause 7 would constitute an event in the terms of Article 3.3(h) of the r-oan Regurations and may tive rise to the early reimbursement, 5uspen5ion or cancellation of the loan under the terms ofArticres 3.3 (Eorly re imarsehent oJ disbo,ed loons), 3.5 by the Bonk af lsuspension undisbused loonsl and 3 -6 lconcellotion by the Bonk ol undisbursed loons) of the Loan Regulations. 7.1 Rankint The Borrower shall ensure that ils payment oblitations under this Agreement rank, and will rank, not less than pori posiu in right of payment with all other paesent and future unsecured and unsubordinated obliSations under its Debt lnstruments. 72 Secu rity should a security be tranted lor the performance of any Borrowe/s Debt lnstrument, the Borrower shall timely inform the cEB of its intentions and shall, if so required by the cEB, provide ro the cEB, within the deadtine set forth in cEB's notace, identical or equivalent Security tor the pertormance of its financial obligations under thir AEreement. This provision shallnot apply to a Securityl (a) created on property at the time ot purchase solely as security for the payment of the purchase price or for the payment ol debt incurred for the purpose oflinancint the purchase of soch property; (b) securint a Debt rnstrument maturint not more than one (1) year after the date on which it is originally incurred; or (c) previously approved by the CEB. 7., Prcpayment to Third parties should the Borrower prepay in whole or in part, voluntarily or otherwise, any Debt rnstrument, the Bo(ower shall so inform the CEB. ln such an event, and upon cEB's request, the Eorrower shall reimburse to thc ctB the amounts di5bursed under the Loan in a(cordance with sub-clause 4.7 in such proportion as the prepaid amount bears to the correspondint Debt lnrtrument. The aforementioned does not concern prepayments to revolvinB credit fucilitiet which remain open for drawint on the same terms after such prepayment. Forthe purposes of the Agreement, 'paepayment', means a.epayment in advance ofmaturity. ヽ い 0 19 8. REPRESENTATIONS AND WARRATITIES The Borrower repres€nts and warrants that: (al itscompetent bodies have authorised it to enterinto the Ageement and have Biven the sitnatory{ies) the authorisation therefor, in accordance with the laws, decrees, reSulations, articles of association and other texts applicable to it; (b) the ex€cution and delivery of, the performanEe of its obligations under and compliance with ihe provisions otthis Atreement do not: (i) (ii) contravene or .onllict with any applicable law, statute, rule or regulation, or any judgement, decre. or permit to which it is subject; contravene or conflid with any atreement or other Debt lnstrument binding upon it which might reasonably be exp€cted to give rise to a Material Adverse Change; no event orcircumstance i5 outstanding that constitues a default under anyother agaeement or Debt lnstrument, which ir binding on it or to which its asseB are subject. which mitht reasonably be expected to tive rise to a MaterialAdvease Change; ｄ no Security has been Branted to a third party in breach of SutclauseT.2; ｅ no lititation, arbitration or administrdtiv€ proceedints of or before any court, arbitral tribunal or agency which might reasonably be expected to tive se to a Material Adverse ChanSe have (to the best ofits knowledge and beliet)been staned orthreatened against it;and it has received a copy of the loan Retulations, the Loan policy, the Environmental policy and the Paocu rement Guide lines and has taken note thereof. The above representations and warranties are deemed repeated on the date of signature of each oisbursement Requert. Any change in relation ro the above representations and warranties must, for the entire r-oan period, be notified and any supportang doauments provided to the CEB immedjately. lf any of the above representations and warrantiei is or proves to have been incorrect or misleadint in any respect, this would constitute an event in the terms ofadicle 3.3 (h)ofthe Loan Retulations and may give rise to the suspension, cancellation or early reimbursement of the Loan under the terms of Artices 3.3 (Eorly reinbu^enent ol disbursed roons), 3.5 (susp€nsio n by rhe Blnk ol undtsbursed ioons) and 3.G (con celrotioh by the Bonk ol undisbursed loonslofthe Loan Regulations. 9 THlRO PARTI[S The Borrower may not raise any fact relatin& within the scope of the use ofthe Loan, to its relations wirh third parties in orderto avoid fulfilling, either totally or parrially, the obli8ations resurtinSfrom the Agreement. The cEB may not be involved in disputes which might arise between the Borrower and third parties and the costs, whatever their nature, incurred by the cEB due to any claimt and in panicular all legal or .oun costt sha be at the expense of the Borrower. 10 NON‐ WAlVER ln no case,including delav or paitial exercise,sha‖ it be presumed that either Ofthe Parties has tacit y waived anv riSht Branted to it by the ASreement. q) G) 20 11. ASS|GNMEIYT The Borrower may not assign or transfer any of its rights or obli8ations under the agreement without the prior written consent of the CE8. The cEB may assiSn allor part of its riShts and benefits or transfer allor part of it5 ri8hts, benefits and obliSations under the Agreement. 12. GOVERiIING LAW The Agreement shallbe governed by the rules oftheCEB asspecified in the provisions ofArticle 1, paraBraph 3, of the Third Protocol(dated 6 March 1959)to the Genernl aSre€ment on privileSe5 and tmmuniiles ofthe councilof Europe (dated 2 September 1949)and, s€.ondarity, if necessary, by French taw. 13. D|SPUTIS Disputes betweeo the parties to the Atreement shall be subiect to arbitration under the conditions laid down an Chapter4 of the Loan ReBulations. The Parties atree not to rake advantage ol any privilege, immunity or letislation before any lurbdictional or other authority, whether domestic or international, in order to object to the enforcement of an award handed down under the conditions laid down in Chapter4 ofthe Loan Re8ulations. ln any letal action arising from this Agreement, ihe ctB's certificate a5 to any amount due or interest rate applicable under the ASreemenl shall, in the absence of fianafest error, be primo ldcie eidence of such amount or interest rate. lt, olcEs Any notice or other communication to be Biven or made under this Agreement to the cEB or the Borrower shall be in writing and shall be deemed to have b€en dury given or made when it is derivered by reSistered mair or facsimile by one Partyto the othe. Party's address or fax number jpecified belowi For the Bonower: Manistry of Finance of Geo€ia L6 GorEasaliStreet Tbilisi0114 Geortia Att€ntion: Public Debt and €xternal Financing Department Fax: +995322262423 For the CE8: Councilof Europe oevelopment Bank 55 Avenue Kl6ber 75116 Paris France G Attention: Oirector,ProjecBDepariment Fax: +33 147 55 37 52 All notices o. other communications to be Biven or made under the A8reement rhall be in En8llsh or French or, if in another lantuage, shall be accompanied by an Entlish or French certified translation thereot when so required by the CEB. Without affectinS the validity of any notice delivered by facsimile according to the paratraphs above, a copy of each notice delivered by facsimile shall also be sent by registered letter to the relevant Party on the followinS Business oay at the latest. Notices is!ued by the Borrower pursuant to any provision of this ASreement shall, where required by the CEB, be delivered to the CEB toSether with satisfactory evidence of the authority of the person or persons authorised to sitn such notice on behalfofthe Borrower and the authenticated specimen siSnature of5uch person or persons- 15. TAXES AND EXPEI,ISES The Borrower shall pay, to the extent applicable, all taxes, dutie5, fees and other impositions of whatsoever nature, including stamp duty and registration fees, arising out of the execution, registration or implementation of the ABreement or any related document as well as of the creation, perfection, registration or enforcem€nt of any security required under the Agreement. The Borrower shall bear all char8es and erpenses lincludinS letal, prof€ssional, bankint or exchante costs) incurred in connection with (r) the preparation, erecution, pertection, implementation and termination of this Agreement or any related document; (ii) any amendment, supplement or waiver in respect of this Agreement or any related document; and (ii0 the prepaEtion, execution, perfection, manatement and enforcement of any Security required under the loan. Notwithstandin8 the abore, N]i.le 4.7 lcost of orbitrotiofl ) of the Loan Regulations shallapply retardinB the costs of the arbitralion set fonh under Clause 13. 15. D|SCIiARGE After repayment of a ll outrta ndinE principalunder the Loan as wellas payment of allinteresls and other elpenses resulting from the Agreement, including in panicular those amounts under Subrlause 4.9 and clause 15, the Borrower shall be tully released from its obligations towards the CEB, with the exception of those set out in Clause 6 above ior the purposes of a possible evaluation ofthe Project, which shall not take place later than four (4)years followinS the repayment oI alloutstanding principal under the Loan. L7. EXIRY IiITO FORCE The Agreement shall become effedive upon siSnature by the CEB and the Eor.ower and (ompletlon of all internal leBislative procedures of the Boffower necessary lor the entry into force of this Agreement, once CEB is notified thereof bythe Eorrower. n\' ,,..( !N W|TNESS THEREOF the Panles have caused the Atreement to b€ executed in two (2) originals in En8lish, each of which is equally valid, and have cauied the siSnalorie! specified below lo initial eech pa8e of this ASreement on their behalf. One l1)original ir lept by each ofthe Panies. Tblllsl, on 18 october 2016 Foa the Borrower Nodar Khaduri Ministerof Finance 6-e-A Tbilisi, on 18 October2016 For the CEB Vltomk [4iles R.tuz Principle Country Manater ApptNDIX l Prolect oesc■ ption LO 1885 Loan Type Project Loan [oah Amount EUR 14 0"Ooo hanC0 Approval by the CEB,! ― Administrative Counail 17 March 2016 Protection of the Environment The main objective of the project ls comprehensive rehabilitalion of public schools in Tbilisi and introductioh of energy efficienc.y in the education sector infEstructure. The eneryy effciency solutions in this project could be replicated in other school buildings in fbilisi and throughout the country. The projecr wi focus on approximately 25 te nera I educatio n institutaons.. FinalBeneficiaries Approrimately 25 public schools will receive com pre hensive reh6bilitation-retrofltting of the sfiuctural elements of the buildings and necessary enerSy efriciency improvements. lndicative Financlng Plah The project is estimated to cost LIJR 22 million of which: EUR 14 million CEB loan; the loan would cover costs related to the comprehensive rehabilitation-retrofitting of the structural elements of selected buildings. EUR 6 million Esp trant {Tty'tc): the grant would cover nece5sary energy efriciency investments and related technical assistance. EUR 2 million (estimated localcontrtbutlon) includes staff cost, building permits and operational cost of project implementation. - - E5P grant funds would flnance exclusively the energy efliciency investments and related technical 5upport while the CEB loan would finance the traditional brick.hd mortar rehabilitation, as well as certain ener8y efficiency investments if/when needed. Tèhnical Assistance{TA) Funds from th€ CEB'5 Spanish Social Coh€sion pccount (hereraafter, the .SCA Gr.nt,,) will be Branted tor the linancint of the technical assistance (technical and initial energy auditr), in ltne with the surveys SCA Agreement. 24 Qト ご . The ScA G6nt witt amount to aloGtiiimum of EUa 1y) @0, as approved by the CEB and lhe Xingdom of Spain.Ihe TAwill be contrd.ted bythe CEB. E5P Grant . lnvestment Grant for energy emciency investments in selected schools in Tbilisi: . Technical Assistance crant for trainin& awareness raisint and knowledSe transfer on energy elficiency issues provided tO the p€rsonnel of ESIDA (the Education and Sctentific lnfrastructure Development Agency), school caretaler5, teachers, directors of schools, schoolchildren, Ministry of tducation and Minimum EUR 5,800,000 Science: Maximum EUR 200,000 Schedule of Works 2016‐ 2021 ClosinS Date 30 June 2021 €llSlblllty Criteda Th€ Project will be implemented in line wilh CEB,S Loan Policy and its H.ndbook for the preparation and lmplementation of Proj€cts, wherebyi The C€B finan.es projects that contribute to protecting and improvint the environment, and thus to improvint liviry conditions. ln pa.allel to its speciric action in this seclor, th€ CEB also syitematically takes into account the environmental aspects of all the projects that it apprais€s, retardless of the sector concerned. The CEB aan flnance projects concemed with: i. redu.tion and treatment of solid and liquid waste; ‖ ¨ Ⅲ clean-up and protection of sudace and underSround water; Ｖ Ｉ Ｖ decontamination of soils and aquifers; protection atainst noise; Ⅵ produclion of renewable enerty; enerty savint measures (excluding Ｖ Ⅵ ene.ty production/dislribution); reduction of airpollution; protection and derelopment of biodiversity; lχ cleaner tra nsport means and networks. fu .etards the produation ot renewable energy, projects eliSible for CEB financing murt be strictly in llne with the specifications and requirements defioed by CEB during appraisal. lnvestments related to protection of environment undertalen by private entities as beneficiaries of a CEB loan shall be restricted to MSMES, as deflned by the ヽ じ a\ L\,.; 25 lnvestments underta*en by private enterprises for the creation of infrastructure for the treatmeot of solid and liquid waste and wastewater that ls not produced by the enterprises themaelves are eligibte. tastl, these projects must aoncern populataons defined at loaalor retional level. The costs ellSibl. for CEB financinS inctude: i. The cost of sutueys or studies (technical, econohic or Commeraial, entineering) a, wellas the cost of technicalsupervision ofthe project. These costs should not exceed 5% of the total cost of the project, lnlesi justified; ii. The cost of acquirinS land directty linked to a project, at it! purchase price, unless it has been donated orgrdnted; iii. iv. Preparation ofthe land; Construction/renovation/modernizatron or purchase of buildin$ directty tinkeo ro a project; v- The inrtallation of basic infrastructure such as sewelate, water supply, tas supply, electricity and telecommunications networks, waste disposal and waste water tr€atment, roads, etc.j vi. The purchase of materlals, equipment and . machinery, inaludir€ tT equipment and software, as well asthe related costs [nked to the training of staffj ,ii. Technical assistance as defined under Chapter 8 of the Handbook CEB loans cannot cover staft aosts (wates/salaries and other related b€nefits such as pension payments), tinancial chaBer or taxes and non-cash elemenls such as depreciation, Such costs may however be consider€d eligible when they relate to project management or technical assistanae required for proiect preparatron and imOlementation. Non-deductible and non-refundable VAT-related can be considered as elitible costs. costs Th€ technicil surveys will provide a tailored and cost effective approach for each bLildint in accorddn(e with itr condition. ln so,ne ca5es, depending on the structural condition, it may be unfeaslbre to rehabilrtate one or more particularV degraded school buildings; the construction of a new builoing may economically viaole option under thore be a more circLmstance5. Dependint on the specific conditions of each school, the project will finance costs related to the comprehensive ^-\$. (̀ζ ) 26 rehabilitation-retrofitting ot the strudtrr-rl elements of selected buildings (foundationt roofin& floorin& w.Is to meet requircments of seismic 5tability, 5afety norms and standards). Ene.gy effiaiency renovation will include an adapted combination of the following measures: lnsulation ofthe envelope (roof, floor, wall5); ln5ulation of pipes; - lmprovement of the erlsting heating systems. includlnS introduction of energy efficient natural tas boilers, as well as thermostatic valves and time., a5 appropriate; - lntaodudion of solar collectors, i, applicable, for sPons arearpools, br example; lnitallation ot double glazed windows and doo6, and/or replacement {full or panial) of damaged double Slared windos/s and doors; - Redunion of the thernal bridges, Modernization ol the existinS lithting syslem. Specifi( Condltlons ADDITIONAT CONDITIONS FOR DISBURSEMENT !S PER CLAUSE 4,5 Based on the conclulions of the technical missions CEB will a156 ;6a1r6" a s€t of technical conditions as a condition precedent to the firlt disbursement as to: A. The standards to which a[ works will b€ carried out (school condition and layout, energy eflicien.l, and seismic safety) to be proposed by the Borower and to be aBreed with CEB;and L A procu,ement plan for the delivery of the projed. c. A ded cated ptu is to be desi8nated within ESTDA for the implementation ofthis project. D The organisational structure and individual professional profiles of the plu are to be presented to the CEB forapproval. F G (i" CtB forapproval H A relocation plan for the selected schooli to be developed and submitted to CEB for approval on aa annual basis, and depending on the works prcgramme. l A syrtem for monitorint school temperatures to be proposed by the MES which i5 in compliance with the agreed standards for schools to be rehabilitated. J, CEB may review the desitns priorto the launch of tender-related activity to ensure compliance with the.treed technica I standa rds. ADDITIONAI- PROITCT SPECIFIC REQUIREMENTS A5 PER CIAUSE 5.4 The Borrower will implement appropriate rneasures in line with imernational tood practice ensurinB the proteclion ofthe health and 5afety ofworkers on prolect sites and other persons potentially alfected by the project works. Specific attention shall be paid to ensure the safu handlin& storate, transportation and flnal disposal of hazardous materialt notably asbestos, during demolition and reconstruction works. The Eorrower will ensure that these requarements are adequately reflected in th€ relevant project tender doaumentation and work! contEcts and will put in place appropriate processes to monilor and aontrol the implementation of the requirement5 by the Contractors. iV Soaialimpact The Project's social impact is expected to be hithly posllive. The comprehenslve rehabilitation would bring many benefits such a! minimum infrastmcturc requirements for learning, improved quality of life and comfort level ,or schoolchildren and teachers. tt will decrease infra5tructural vulnerability of Tbilisi schools to seismic actlvity and improve safety of pupils and tearhers- The project will also help reduce operational and maintenanae costs, and by erlension, improve the sustainability of the selected/reconstructed schools; it will contribute to reducir€ enerty consumption against the baseline in ta4et schoolbuildinSs by more than 4O%. The project will improve enerSy efficiency ot public infrastructure .s wellas the capacity of lo.alstakeholders to promote and replicate similar project throuShout Geor8ia. lt will reduce treenhouse 8as (GHG) emission, contribute to enerty savings, thus improvinS sustainability of pubtic schools and the quality of lile for lchoolchildr€n anq tearhers. lt will also raise awareness C, 6 28 on the beneirts of energy efficienq/ improvements. Reduced eneBy consumption in the refurbished buildingr will allow school managers/directors to better control the heatint levels of classrooms without losing the comfort level lor schoolchildren, which will in turn encourage better monitoring of energy costs by the managers and provide incentives lo r fu rther savints. Additional added value from CEB tvill also ensue through its operational requlrements such as the egtablishment of standa.dr to which all works will be carried out as well as its technical support and tailored financial and technical monltoring during the ofthe ´ 中 APPEI{DIX 2 Form of Le&l Oplnion Offida I Sea I of M inistry of ,ustice Geo€ia Number/ Date To: Councilof Europe Development Bank 55, avenue Xl6ber F-75116 paris Attni projectsOepartment Cc: Office ofthe GeneralCounsel Copy: To Ministry ofFinance ofGeorgia LegalOpinion A5 a responle to the letter of Ministry of Ftnance of Georgia Ng_-J_daied, _..- 20_ and in accordance with Article 2 paragraph 5 otthe Law of G€oGia on "state Debt', and th-e,aegulation of Ministry of Justice ofGeorgia" confirmed by the Resorution of Government of Georgia N9ig9 dated December 30, 2013 Ministry of Justice of Georgia provides yol, with this Letat Opinion on the Loan Atreement (N9_)5itned between Geortia and 2O_. M inistry of J ustice ofGeortia within its competenae reviewed the aforementioned Loan Agreement and its ("_,) on__ -=_-- rclated documents, aswerras verified them with regisiation ofGeoBia. Ministry of.,ustice of followang: Georgia certifies the 1. ln accordanae with the requirements of the Law ofGeorgia on,,State Debt,the draft of the l-oan ASreement has been atreed with the fo llowing Sove rnmental insthutlons: 9_dated_J Z0J; ii. Ministryof Foreitn Affairrof GeorSia (letter Ns_ dated 2O_l; __ iii. Ministryof Finance ofceortia (letter N9_ dated _ _ 2O_); i. Minislry ofjustice ofGeorgta (lener iv. Ministry of Economyand Sustainable Development of Geortia (letter N9_dated v. NationalEank of ceortia (letter Ne_ d.ted _ _..- 2O_); J 2O_); va. Any other relevantgovernmental organiration (if required). 2. The loan Ag.eement has been duV execuled and delivered on behatfof Georda by _ - the Minister of tinance ofGeorsia as lawful representative ofGeoryia in accordance with the provisions of: a)the Law ofGeorgia on "state Debt"; b) Dec.ee of Government of GeorBIa N9_ dated __. 20_ on ..Approlatof the si8ni4 of the Loan Agreement (" ") by the Ministry ol Finance of GeorSia between GeorSia and .";and c)the Order ofthe Prime-Minister of Georgia "On appointing as Minister of Finance of Georgia" Ng dated _ _ _, 20_ 3. ln ac€ordance with the Law of Georgia on "State Debt" the Loan Agreement has been ratified by parliament of Georgia whi(h is cenifled by the Resolution of dated 20_ on "Ratification of the l-oan Ns_ Agreement (" _-- ")concluded between Georgia and Consequently Ministry of lustice of Georgia certifies that the Loan ASreement has been drawn up in full compliance with the legislation of Geor8ia, there are no impediments for the effectiveness ofthe said Loan Agreement and therefore it is legal, valid and constitutes a binding obligation undertaken by the State of GeorSia. oeputy Minister of Justice \, G 30 APPCNDlX 3 LOAN DISOuRSEMENT REQUEST(■ lMPtATE) ̲ ̲ Attenlon: Director. Department Projects Councilof Europe Development Bank 55, avenue Kleber 75116 Paris, France Fax : +33 (O) 147 55 37 52 [.]- [.] Loan Tranche with reference the Framework Loan ASreement dated {.1 (hereinafter, the "atrcehant,) between rhe council of [urope Development Bank (hereinafter, the C€B) and IBORROWERI(hereinafter, the "Borower"), ISORROWER] hereby requests the CEB, in accodance with Sub-clause 4.3 (a) of the Agreement, to proceed with the dlsbursement ofa Tranche underthe specifictermi and aonditions set out below. Terms defined in the Agreement sha ll have the same meanint herein, unless otherwise,pecified. Currency/Amount Disbursement Date Principal Repayment Period [・ 1 [.] years Iincluding a grace period of {.] yearsl Maturity Dale ﹈一 Principal Repayment Oate{s) ● laterest Rale Fixed I.)Wronnum Floating Reference Rate: ll.l-month EURIBOR/USD, llEOR per onnum Spread lnt€rest Payment Dates [.] basas points per annum lQuarterlyl [Semi-annualy] lAnnualyl in arrears The interest payment will take place on [.] every year and for the first time on Mod fied Following Business Day Convention Any day on which TARGTT 2 (Trans-€uropean Automated Reat-time Gross Settlement Express Transter system) is operating l.l Day Count Convention Business Day Borrowe/s account Beneficiary's Name Beneficiar/s Eanl ● Name ,° C ty 101 S,VIFT 1● l IBAN l● 〕 Reference Correspondent Bank Name (ifapplicable) C ty SWIFT IBAN ● 〕 I● 〕 I● 〕 l● ● ・ 〔 OnI・ 〕 l′ Fo「 the BorrOwer ‖NSERT NAME{S1/T Tt[{SH ι 0 ＾ ３ ヽ D:SBURSEMENT NOTICE(TEMPLATE) J.l - [.] Loan Tranche in r€sponse to your [oan Disbursement Request dated [.] with reference the Framework Loan agreement dated I.l (hereinafter, the "Atreemeng) between the Council of Europe oevelopment Bank (hereinafter, the CEB) and IBORROWERI (hereinafter, the "Borrowe/), the CEB hereby notifies to the Borrower, in accordance with Sub clause 4.3 {b)ofthe ASreement, the terms and conditions ofthe disburtement ofthe relevant Tranche. Terms defined in the Agreement shall have the same meeninS herein, unless otherwise specified. ●l 〕 Disbursement Date l● Principal Repayment Period .l years [includinB a Erace period of I.] yearsl Principal Repayment Date(s) lVaturity Date ● lnterest Rate Fixed 1 ● 1 l.lper onnum H● 〕mOnth Floating Day CountConvention Business Day Borrowe/s account Quarterlyl lsemi-annually] in arrears The interest payment willtake place on [.] every year and for the lirst time on l.l Modified FollowinE Business Day Convention Any day on which TARGET 2 (Trans European Automated Real-time Gross Settlement Expre5s Transfer rystem) i5 operatint 8eneficiary's Name ● Beneficiary's Eank Na me [・ C Correspondent Bank fap口 にaЫ 0 CE8's account USD‐ [.] basis points Spread lnterest Period lnterest Payment Dates [uR BOR 日BORper αηη m 〕 ● SWIFT I● 1 IEAN l● l Reference l● Name l● l City I● SWiFT I● BAN ￨● l 〕 〕 〕 Beneficiary's Name Beneficiary's SWIFT council of Europe Developmenl Eanl Beneficiary's Bank Name i Deutsch€ Senk C〔 FPFRPP City I Frankfurt (Germany) SWIFT DEUTDEFF IBAN DE44 500フ lX110 0928 7384 00 Peris, on [.] Forthe CCB ‖NSERT NAME(S)/T「 LEISH ′し t ヽ AppENDIX 4 [O r885 (2016) -Nerratlve Progresi/Comptetion Report TABLE OF CONTENT ４ ３ ｅ ｇ ａ ｐ ６ ３ ｅ ｇ ａ ｐ ７ ３ ｅ ｇ ａ ｐ ８ ３ ｅ ｇ ａ ｐ ９ ３ ｅ ｇ ａ ｐ ０ ４ ｅ ｇ ａ ｐ １ ４ ｅ ｇ ａ ｐ ２ ４ ｅ ｇ ａ ｐ ３ ４ L. Narrative Report Table 1 Costs Table 2A Procurement Plan Table 2B l-ist of Awarded Contracts Table 3A Funds Received Table 3B Special Account Stat€ment E5p Table 3C SpecialAccount Statement CEB Table 4 Calendar of Works Table 5 Technical lndlcators ｅ ｇ ａ ｐ Appendix Appendix Appendix Appendix Appendix Appendix Appendix Appendix Appendix (n Appendix Na..ativ€ Progress/Completion Report LD 1885(2016) Summarv Of Prolect Status Estimated EliSible Proiect cosl: EUR 22 000 000 Apprcved C[B Loan Amount: tuR 14 mo (x)o CEB finan.in8 Mar 70 % oltolal eligible.otts 96 CEB loan Dlsbursed as of idatel hoiect Oblatives: The main obiective oI the proj€ct tD 1885 (2016) "Reconstruction R€habilitation of Public schools in Tbilisi and lncreasinS EnerSy Etliciency" is co.nprehensive rehabilitation of public schools in Tbili5i and introduction of enerSy effciency in lhe education sector infrastructure. The energy efficaency solulions in this project could be replicated in other school buildings in Tbilisi and throughout the country. The project willfocus on approximately 25 Bener.leducation ingthutions. CEB Loon Dlsbu6ement Histoty lend げ ″ /わ α) (Attoched updoted oBbutsernent inlornorionl Average disbu、 ement%per vear % current lpenod) MAn Proiected lD. other plann€d linanciu sou.cea: EsP Granti EUR 6 (x)0 (m to.al Cont.ltution: EUR 2 0,00 (x)0 odl MtUR F5P Crallt p15bV● ement ″たt● ● 5eneη t77/Omσ l10″ ●:tOrhed""ted Dめ υ Current tperiOd) (end oF ″FuR ProlecteO(pedOd} M● ●R SCA - Technical Assistan.e: EUR 150 0m EItu.tive Date: Im pl e menti ng Ag e dcy : ES IDA Clo5in8 dat€: Years Under lmplementationi Sunrnary o{ Proieat Stat8: The statur ot implementation to date is as lollows percomponent: la) Project Actlvities: . . . overallProgre55 durintthe proied phares and in penicularthe reporting period Planned/Expected protress for the followinB reportintperiod Probhm, ifany and ways to solve lhe probhm {bl Procurem€nt adiviti6 . . . ら｀ Status and plan for procuaement Problems, ifany and waysto solve the problems Resuhs on bidsr lnformation on procured worls, services, equipment, includint identity and nationality of suoolier σ . Contracts execution (cl Project Cost and Financing: . . . . Summary of Oisburs€ment Flowol Funds by Financing Source Updated Summaryof Erpenditures occurred and paid Future exp€nditures and totalcost (d) Achievements: . . . Results achieved oeviations Problems encountered (e ) lmp.cr of the trorect . . . lro b€ piovU.d .t the .onpldbnl Technical, economic impacts soci.landenvironmentalimpacts Projectsustainabality l0 vBibiltty lPublX onnouncen.n6, constuction ,iae tuftt' medb/n?*spolIJt ortdes: tB ol onichr, ,ource, .toles, on.t pog./s ol odkht thot rnentoo cEB on t/ot ottrt portren; t oiastouon o1 ,icils ientan ca onator othet Nttn?6 ftom quotitstiye perspective) tiii Prorect Specific tssues Staf, issues Action Plan to solve issues lil ヽ し ご′ ０﹁ ０ ●０ ■●●● こ い コヽ ｒて お ●ヽ ｔ●し´贅く０●● σ ■一 Ｉメ一し ●● し■ ヽ ヽ 一 ■一３ ｆ ヽ ０一い０■じこ ´ ︒≧こ０●０い０ヽ Ｅ う ０３〇 一 メ一 ︐ ︐ ︐ ︐ ︐︐ ︐ ︐ ︐ ︐ ● ＴＮ¨市≧ ２一 ３０ 一 ∞ ｏ一■ と ●●●ε聖０し Ｒ メ ０２ ↑ ¨ ＮＴＯ●２一 一 Ｉ ご ヽミ ３さｔ ● ｔ Ｓ ξ ｔ ６一２ ● Ｏｅ ヽ ヽ お ξき さ １ 一 ● やせ ヽ０も︑ ｔ● そ０ミ ヽ ま 聖さ ●１■３ ● 留 ヽ ｔ ヽ３●ミ 一 ョ・ ︐ ︐ ●ｅ ｅｓ ミユヽξ ︐ ﹁ ︱ ￨ ￨ 01 ■ ´ ︐ ●３ ｔ ︐ ■ 一■ ７ ⁚ ２ 一 ≧ ２８ ︐ ■ ８ お ６ ■ｉ ｌ ● 一 Ｅ ヨ０ E こ 3 : ●１ 一 書 Ъヽ ３ ｔ ヽ 重 ´■ ⁚ ︐ ︐ ￨ メ Ｎ●¨●﹁ : ■ と ●￨￨ 一● ● ´ ● 一 ど 題 とＦ ■番 ヽ い ０ ´ 一ヽ 一 ●● ● ● ヨー ¨ ヽ こＦ ＬＩ ζ項ｔ ＩＥ Ｅ コ ︐ ︐ ■ 夕 ■ ●ヽも ●⊇ ヽ ■ ■こ 一 ︐ ￨ り こ０︶ ●ご ｘ口● ´ヒ●¨ ︐ ●２ ヽ■ ８ ¨Ｃ¨ ドにＣＯ■ ヽに０ 一０ こ０ 一ｏω宍ビ α ¨ヽ０ 一０●一 一 口︼０ ︑●一Ｃ ●■にｏ●０ 一 い●﹄●い●● ヽこ 囃９ ０ ●一 ０こ嘔﹈ ´口﹂● ●﹈ ︐ ヽＯＬ ミ いＦ И︻ Ｈ︺︐¨ ■ ■■ ︐ Ｃ一 ｏう ｏ Ｏ﹄¨Ｃ 一ヽ Ｃ ● こ 一卜 ●¨菫 ｏｏ 工ｏい ｏ 一 コ● ﹂Ｏ Ｃｏ う ｏ 一 ●ｔ● Ｃ ｏυ ︐ ︵ 一 ０一︶ ∞∞ ︼ ０ 一 ｀ l。 ︐ ´● く ト Ｐこ し景こ ¨ ●０ 卜当蜃 Ｒ ヽ ヨ ¨ ？ Ｖと 卜ｍ t, ＢＯ苫 ●■ ●１ ︱ ●⁚●■一 ⁚■ ︐ ︐ まＦ ● ２ ３ 一 ｉ ■ １ ■ ⁚ ︐ ● １ ︐ ｌ Ｉ Ｉ Ｉ 一 １ Ｐ ● ︐ 一一ま ■ 一 ●１ Ｉ ● ● ３ ≡ ⁚ ■ ● １ ● ■■ ● ２ 一 ●■ ● ⁚ ︐ Ｉ Ｉ Ｉ ｌ ｉ ８ ︐ ⁚ ｔｔ ⁚ ︱ ● ⁚⁚ｅｆヽ ¨ ●■ １ １ 一６ 一一 一⁚ ■１ ■Ｉ モ ⁚ ０ ● ！ ０ ● 又 ● を ヽ ■ ●■ こ ⁚ ●よ ︱ ︐ ︱ ︱ ２●０ １ ︐ ⁚ Ｙ ︐ ︱ ■ ●■ ６ ■一 ︐ ● ⁚︐ ● 一 ︒● ● １ 言 ８ 一 ⁚︱ ヽ ●と ●●ヽ ヽ ︐ ●１ ● ●１ １ ⁚ 一！ ⁚ 一２ ● ⁚ 一 二 １ １一 ３ ヽ ●一 ８ ●●⁚ ち ？ ≧９ ■ 一■ １ ３ ●■ ´ １ １ ︶ １ ■■ １１ ■● ■● ■ １ ３ １ ︐︐ ７ ︐■ ● 一こ ■ ●２ ︐ ｉ ⁚ ︱ 菫 ︐ ︐ い ０ ■ ︐ ヽ●⁚ 工一 モ ●０ 口 ■ ´●●● ● ●¨ ︐ 一ヽ ● ０ ´ ´●● Ｏ Ｌ Ｊ ●９ ｒＳ ヽ ｔｔ １ ０ ３ ８ １ ６ 澪 ヽこ ︱ ●じ 8 ●く お ヽ Ｌ ︐ ︱ ●０ お ● ＾ 々 ︑０ ●０■ し● :: ヽ ヽこ ︐ ︐ ￨ 菫 ８ ︐●⁚ ョ ヽ ヽ１ ● ●； ヽＥ 訴 ０ ●者 Ｂ⁚ ¨ ●３ Ｓ ヽ ９ 一お ︱︱ ︐ 兵ピ ● ⁚ 一 ●ｇ ︐ ●︶ 一１ ● ！︐一 ■ ●●●■●０ じ 一 ¨一︻︻ ¨ 々 ヽ ヽこ ︐ ９ １ １ ２■ １ １ お ３を６ ８ ｒ● 一 ＾ し こ︶ ︐︐ ｉ ｌ Ｂ Ｉ ●３ ヽ０ ど Ｂ セ ０ ■ ︐ ● Ｓ ●々 も ヽ エニ ︐ 2・ ヽ８ ︐ ︐ ヽ 三 ９ ´Ｘ ０ ヽ 一 ■０● ︐ ● ヽ■Ｊ ︐ Ｅ Ｓ 一 Ｃ ヽら ヽ さ ⁚ こ １ １ ■ ヽ３ ２●´ ● ｏう お １ ︐ 一 二 ＾１ ヽ■ ︶ ● Ｂ ださ ｇ Ｉ ︐ ︑ヽ ︐ ︐ ８ お Ｂｉ ｔ一 ＾ 一 々 お ︐ １ ５ 澪 ヽ１ ３ ３ ︐ ●く ■ こ ︐ ９ １５ １ ︑ ●● ど マ ｔ ｉ ｌ ●０一 ●ヽ ●一 ● １ ●０一 ｏ ｔ二 一 を ヽ ︐ ３ 一 ¨一︻︻ ● ヽ: い 一 ︐ Gゝ ｔ ■●●０一６●¨﹂︒ ●︒﹁ァ●８ ● ¨ヽＯｔＯいＯＵ む ¨ ヨＪ 壼曽 ８ ｏ ¨ 一 ■■■●Ｆ １¨ ３ヽ ■■Ｖい２コうＯ Ｌ２︼≧ ︼ コ︶９ ヽ こ●● ハ■ ●● 夕 ﹈ン曽こ●﹈ ●■５ ﹁０● ■ ﹁ ´スＸだヽ¨連 ︐ ¨︒●︒●● ■ァ● ︼ ０こ リロコ ０´ ︺﹈電ヽ一 ∞一 ̀ ●し ＥゝＯＬヽ ■ ●Ｏｏ ● ３ ヽ ０ ●＾８ Ｌど ● ●こ ● ■ Ｄ¨■ ●ｅ ｔｉ ●１ ︺●≧６ こ ヽ● ヽ０﹂一一●●い一ｏ００ ヽ０一０ ぃゼ ｏ 一一 ０¨≫ 一 Ｈ¨０一ＯＬ５こ０ヽ︶く 〇０い０ ¨ ＾ ・ ︐ い● 曽 :::目 ｔ ●⊇ ︑ ︱ ■ ぶ 一●●ヽ９ ヽい︼ ε ｇ ﹁メ●● ´● ●０ ●● ３ ヽ 聖ヨ 一０●●一 と０ こ ●︺︺ 一 ０■ ● 一●●● き● ヽ ８ 一 ８ ■１ ● ︐ ¨ ＾¨ ｔ ｅ ｔＢ ヽ Ｅ ３ ヽ６ ・ ｔ ・ こ ︐ ●０● ●０ １ ヽだ ０ ︐ ＬＦ いじ ●わ ●ｏ●¨０ ちも ● ¨¨● ●０︑ど ●一２ 一ヽ坐¨●一たｙ Ｏ ● 一︶● つ ¨ ●一０●■ ●︑●●●００ ■ 卜︶ ・・ ︐ ︐ ・・ つ ´ ｔ ｌ ２３ ● ヽ● 一● ０ ● 〇〇 ● ● 一 ２ 一 ３ １番 ０ ヽ一■ る ！ メ ̀ ::l ::; = ド や ヽ ｅ ｔ ●ゝ ヽ ¨ｃ●Ｅ Ｅ ピ こ︺ ﹄Ｏ ｃｅ こ Ｉ ビ ０ 一ヽ０ 曽 る 一 ● Ｕ ' ︐ い●● コ●●●■´ 一ＦＯこピトＺ ００ ０ ﹈０ く ●ＣＯ ¨ ０こヽ﹈ く ﹂Ｏ Ｌいコ ¨ ●Ｎ 一Ｆ●Ｃ 一 ● ●一●● ●０ ﹄せヽ¨ｔ Ｃ ● ■ ¨ ´卜 ● 一いヽ︶０ ●い ０一一 コ Ｌ ﹂０ ０ ¨ ぉ こ り こε ● ● ● Ｏｕ ● ０● ●∝ ＾０ ０● ︶ い０一ヨ ０ コ ｀ は くト ︐ 一 6. ●⁚ Ｅ Ｉ ⁚ Ｆ Ｏ ■ 一１ ︐ ３ミ ｏｅ ｔ ｉ ｇ ⁚ ︐ ２こ く ¨●一●●●ＯＬヽ´● ︺ ヽ０ ＾ ヽ０ ■ ︶ｏ■０●０ ¨ ヽ０ ¨０●Й ぬ 四︶ Ｉ Ｐ ５ ● り ¨＞ヽ¨Ｃ ¨ ヨ こ ヽ ●● ヽ¨ ゝ０ ●●一■Ｆ 一﹈ ︑Ｌ ●● ﹈ ● Ｃ ヽ コ ０ ０ ヽ¨ｃ一● ●● ● 一 ０ 卜 ● 一ｒ ０ ０ こ 一い ０ 一 コＬ ︶Ｏ Ｌ ０ ３ ● 一 ● ｔ● ｏ０ ︐ ＾● ︼ＯＮ ︶ い０● ︻ ０ 一 V α ０ 四＞ コ υ ｕ ｒ 一 〇 ２ つ Ｌ Ｉ く ｍ ｕ 一 ● く ト O ● ̀ ２ ●０ Ｏ Ｅ ´ ●０ ●● ■ ■ ●¨● ● 一６ ｏ ４ ´Ｄ ﹄０ １ ∝ つ ¨ヽ ¨０ ﹃ つで ０ ０ じ ヽ０ 一 ︐ 墨 ´ 一 ０ や ヽ ９ ０ ● 一２ ● じ と ︐ ︐ ´ 一 ０●● ｂ ´ｙ こ と ︶０ ０ ¨ ︐ ︐ ｏ ●■ ● ｏ ・ :: ´Ｃ ● ゝ ゝ ビ ヽ こ ﹈ ヽ︶ Ｃ Ｏ ● ●● 一０ ヽＬ ¨ ﹂０ 一０● 一 ● ︺υ 一 ● ■ ヽｏ ● ０ ¨´﹂¨Ｃ ● ０ ０ 一● ﹄● い● Ｕ ゝ ﹂ ヽ● ● ● ¨ 世 ● 一︺ 一 い一 ︻ Ｚ ︺ 一● ● ﹈ Ｆ ピ ﹂く ↑ い い ２ つ Ｏ Ｏ υ く コ ´月 ︶﹈ ● い ︐ ● ｎ ●一 ｏ っ ０ ０ ﹄一Ｃ ¨ Ｏ Ｃ ● ３ ● 卜 ● ¨ い一〇 ０ こ０ い ０一 一 Ｏ Ｌ 一Ｏ Ｃ Ｏ 一 ● 一 ●● ＯＬ ︵０ 一 Ｏ Ｎ ︶ ● ∞ ∞ 一 ０ コ コ● く い ︼一 ∈ ０一 一 ０ つ０● ●ヽメ ●０ ● 一 ¨ ´● ０ 一● ヽ ０ ¨ ０ ● Ｏ Ｘ０ ０ ∽ ⊃ ヽ´﹈０ ●ｏ つ ︺ ヽ一¨〇 ヽ∞ ● 一０ ● Ｏ Ｃ ´０ ヽヽｏ ● ｏ 一工 ´ ０ 〇 一 ︒ ●０ ● ´ ●ｏ 一︒ ︐ ︐ ０ ０● ●︑¨ ︒ ●０ ︶ｏ メ ｏ ● ０ ヽヽ０ ０ ０ ■ ¨ ０ ∞ ｔ 一０ ● ０ ０ ０ ０ ︐ ・ :3 == 3 0 ビ 0 L ざ 菫 ● し｀ ¨ＣＯＣヽこ０■ Ｃ 山 ス︶ ＣＯ し Ｏω´０ヽα 一﹄０ 一０●０ ● 一〇 ・ ︐ ゝＬ¨Ｃ Ｄ Ｏυ ｉビ ｏ ００ ¨ い 面こ コ● ＯＳ一 メＯＣ Ｏ 一 ｏこ 一０ ●興 ﹈ メ● ﹄Ｏ Ｃ ﹈ Ｏ Ｃ ¨ ｏコ つ０ 一 Ｃ 一 Ｏ Ｃ い 一 卜 Ｃ 一●一ｏ Ｏ 工０● ｏ ● ｏ こ 一Ｏ Ｃ Ｏ ¨´● コ 工● ビ ︐ ＾０ 一Ｏ Ｎ︶ ｎ ∞∞ ０一 ２ く ０ 一 ● Ｈ ︶ 卜 Ｚ ﹈５ 一リト く 卜 一 卜 Ｚ つ ０ ● υく コく ¨ υ 一Ｌ ∽ ︲ Ｏ ｍ ﹈コロ く ト Ｎヾ (慮 ０ ●Ｌ Ｏ ●● う ＣＯ 一 一Ｃ● Ｅ ●一 ｏ のｏ あＣ● ０＊０ 一 ０ ﹁ ●Ｃ ヽ ＞００ 〇一Ｃ Ｅ コ 一 〇０ ﹂０ ﹂０ つ Ｅ Ｏ 一 ヽ Ｃ め い００ ●● ０ こ一〇 ０● ＯＣ ﹂０っ＾ ００ こｏ■ビ ｏ 一 ●´ ０ ヽ ● Ｅ コ一 〇〇 ０ ¨００ ●一０●こ ０ ●●０オ﹂ 一 ∽α ・ ● o ● o ● o つ o ::3 E : 百 ::ョ ::百 12妻 ::: i:: ￨こ 選 口 窟 長 i:: 」 ど 屁 i:: ヽ : : ¨Ｃ ωご Ｃ Ｃ Ｏ Ｌ 一 ＞ Ｃ ｕ ｔＯ Ｃ Ｏ 層 ０ ０ 氣 ピ ﹂ ¨ ＬＯ い０ 一３ い●Ｏ Ｓ ﹄ ゝ Ｏ Ｃ 〇 一 ｏこ 口 ゝ ︑● Ｃ Ｏ Ｘ ０ ¨︺ヨ 一 ｏ ﹄ ン ﹂０ ● 一■ 卜 Ｃ 一 一〇 ０ 一■Ｃ ● 一 ∝ ｕ ● ２ Шコく ０ １ ＯИ Ｏ﹂ ０ コ ユ 一Ｏ Ｃ Ｏ 一一● ¨ ¨■ ● ¨０ ０ ● ０ ０ ０一 一 Ｏ Ｃ ︐ ＾０一 Ｏ Ｎ ︶ 一∞ ● コ ｏυ ●一ピ ０ ０ ０ ■ ゝ ﹄一 鮨ト 寸 Ш コ ロく ト ︐ ヾ 種』 :: : : C ‐ 一 コ τ書 ど 七こ Ｅ＾ ︐ ３ こｔ ｅ 一 ヽ ﹁● Ｂ ︐ ０ ●０ し ０●¨０︑０ ¨﹂０ 一●● Ｌ ●６ Ｅ こ ﹈ ヽ ら ● ︺一 ︐ ■ ビ ０● ︶ Ｃ 一● ● Ｒ ︶ ３● ●●●● ヽ 一 卜●●０一︶ ︶﹈ ︑﹄ご● ●¨ ●Ｃ ¨ ●● 一おこ 一●¨● ●ｏ ﹁ いヽ０ ¨●ｙ Ｏ ●一一 ■ 一 ＯＬ ●一■ ０ ０ ●た ０●■ ¨ い ︺■一 ０い ｏ一０ ● ﹄︒ ● ０一一■ ●● ● ＾ ● ¨一● 一い∞● ¨ ０ ﹁ rOI ■