Code of Federal Regulations Title 46. Shipping 46 CFR Pt. 390, App. IV—Sample Addendum to Maritime Administration Capital Construction Fund Agreement

This Agreement, made by the Maritime Administrator, Department of Transportation (“Maritime Administrator”) and ______ (“Party”), a citizen of the United States of America, as an Addendum to that certain agreement, Contract No. MA/CCF–

Whereas:  1. On ______, the parties hereto entered into a Capital Construction Fund Agreement (“Agreement”) under 46 U.S.C. 53501 et seq.;

2. The parties hereto desire to modify that Agreement in the manner hereinafter set forth;

3. The parties hereto have agreed to said amendment and desire to incorporate the same into the Agreement.

Now, therefore, in consideration of the premises the Maritime Administrator and the Party agree as follows:

Notwithstanding the provisions of Article 4(A)(2) of the Agreement, the Party may, within sixty (60) days after notice appears in the Federal Register that the Regulations jointly prescribed by the Secretary of the Treasury and the Secretary of Transportation have been finalized, terminate the Agreement, if such Regulations have a substantial effect on the rights or obligations of the Party. Upon termination of the Agreement pursuant to this Addendum No.__ the provisions of the Internal Revenue Code of 1986, the Act, and the rules and regulations shall apply to all funds remaining in the Fund as if such funds were withdrawn in a non-qualified, withdrawal, as that term is defined in the Act and the rules and regulations.

In witness whereof, the Secretary and the Party have executed this addendum, in quadruplicate, effective as of the date indicated below.

United States of America,

Secretary of Transportation,

Maritime Administrator,

Department of Transportation