DEUDAS DE LA  REPUBLICA


317


such  issue, in accordance 'with said agreement, represent and constitute contractual, irrevocable, final and incontestable obligations of the Republic  of Cuba to pay the principal and interest of the same at their respective maturities 'without any right to deduction, discount or counterclaim, for which full payment  the.Republic pledges the integrity of the funds specially affected, as per said Agreement, under its good faith and credit.
     The  notes of this issue are subject to partial redemption upon maturity of each interest coupon, for its nominal par value, plus interest or apart from the maturity of a coupon at the rate of one hundred and  five per cent of its principal amount plus accrued interest by means  of a previous notice of not less than sixty days, in this last case, as provided in such Agreement, which notice shall be published in a daily newspaper of general circulation printed in English and published in the City of Boston, State of Massachusetts, United States of America, and in a newspaper of general circulation printed in Spa. nish and published at Havana, Republic of Cuba.
     The notes are also subject to redemption and retirement through the operation of the Sinking Fund which is mentioned in the Agreement  and in this Note, by means of a previous notice, of not less than thirty days, published in like manner as provided for in such Agreement.
     As a Sinking Fund for the redemption of this Notes the Republic will deliver to the Bank at its Havana Branch, in the Republic of Cuba, in gold coin of the weight and fineness above indicated, on the 30th. of June and 31st. of December of the year 1933, and on the 30th. of June and 31st. of December of the year 1934 and on the 30th. of June of the year 1935, five days in advance at least, to each one of those dates, the total of the revenues received up to the 25th. of each one of the months of May and November  of each of those years, from the funds pledged as security for these Notes, up to each of the dates mentioned.
     The amounts  deposited in the Sinking Fund  after the 31st. of December 1930, shall be applied, first, to the payment of the coupons corresponding to each date, and the balance of the funds shall be applied totally on each date without deduction or discount of any kind or separation or deduction of any amount, to pay as many outstanding Notes as possible, proceeding to the drawing of the number of Notes which are to be paid, by Series, in the manner set forth in the Agreement.
     -The Notes shall be specially secured with a first and preferential right and lien, in all the required extension, for the payment of principal and interest upon the following resources in full:
     (a) The  full seventy per cent not pledged prior to the date of the Agreement of all the products of the sale or of any negotiation carried through by the Government  on the forty million dollars of