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Exhibit 10.47
CAYMAN ISLANDS
THE REGISTERED LAND LAW 1971
VARIATION OF CHARGE
REGISTRATION SECTION BLOCK PARCEL
West Bay Beach North 11D 8
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W H E R E A S : -
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1. This Instrument is made supplemental to the Charge ("the Charge") between
CAYMAN WATER COMPANY LIMITED ("the Chargor") and THE ROYAL BANK OF CANADA
("the Bank") shown as entry nos. 6 & 7 in the encumbrances section of the
register relating to the above mentioned title and Debenture ("the
Debenture") referred to therein.
2. The Charge and the Debenture were entered into as security for credit
facilities given to the Chargor to a maximum sum of Two Hundred Thousand
Cayman Islands Dollars (CI$200,000.00).
3. The Bank has agreed at the request of the Chargor to extend its credit
facilities to a maximum sum of Four Hundred and Seventy Five Thousand
Cayman Islands Dollars (CI$475,000.00) or its equivalent in United States
Dollars as hereinafter provided and the Chargor has agreed to enter into
this Instrument for the purpose of increasing the sum secured by the
Chargor.
NOW THIS INSTRUMENT WITNESSETH as follows:-
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1. The Chargor and the Bank hereby agree that with effect from the date hereof
the Charge shall be varied to increase the maximum sum secured thereunder
from Two Hundred Thousand Cayman Islands Dollars (CI$200,000.00) to Four
Hundred and Seventy Five Thousand Cayman Dollars (CI$475,000.00) or its
equivalent in United States Dollars provided that the Bank shall have the
right in its sole discretion to determine what proportion of the increased
credit facilities shall be advanced in Cayman Islands Dollars and what
proportion in United States Dollars.
I, the Registrar of Lands in the Cayman Islands
certify that this document was received by me
REGISTERED for registration on the 12th day of May 1981
THIS 21 DAY OF MAY 1981 and list stamp duty assessed/adjudicated by
me/Treasury at CI$10 and Land Registry dues at
/s/ CI$10 relating thereto have been paid.
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/s/
CAYMAN ISLANDS ----------------------
Registrar of Lands
[REGISTRAR OF LANDS CAYMAN ISLANDS STAMP]
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- In so far as not hereby expressly waived or varied the parties hereto
hereby confirm the terms and provisions of the Charge.
Dated this 30th day of April 1981.
The Common Seal of CAYMAN ) CAYMAN WATER COMPANY LIMITED
)
WATER COMPANY LIMITED was )
)
hereunto affixed by ) Per: /s/ X. Xxxxxx
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X. Xxxxxx and ) Director
)
by X. Xxxxxx )
)
In the presence of: )
)
)
/s/ ) Per: /s/ X. Xxxxxx
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Director
Witness Secretary
SIGNED, SEALED AND DELIVERED ) THE ROYAL BANK OF CANADA
)
By X.X. XXXXXXX ***** )
)
the duly authorised Attorney )
)
for and on behalf of THE ROYAL )
)
BANK OF CANADA in the pre- )
)
sence of:-- )
)
)
/s/ Per: /s/ X. Xxxxxxx
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Attorney for
Witness the Bank
[PUBLIC RECORD OFFICE CAYMAN ISLANDS STAMP]
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CERTIFICATE OF IDENTIFICATION
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Cayman Water Company Limited
Name: Per: /s/ X. Xxxxxx -- Director
Per: X. Xxxxxx -- Secretary
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I HEREBY CERTIFY that the above named persons appeared before me on the 30th day
of April 1981
being known to me acknowledged the above signature or mark to be
theirs and that they had freely and voluntarily executed this instrument and
understood its contents.
/s/
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Signature and designation of the
person certifying
CERTIFICATE OF IDENTIFICATION
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The Royal Bank of Canada
Name: Per: X.X. Xxxxxxx -- Attorney for the Bank
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I HEREBY CERTIFY that the above named person appeared before me on the 30th day
of April 1981 and being known to me acknowledged the above signature or mark to
be his and that he had freely and voluntarily executed this instrument and
understood its contents.
/s/
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Signature and designation of the
person certifying
[REGISTRAR OF LANDS CAYMAN ISLANDS STAMP]
