Capital Construction Fund Agreement-addendum No. 1

Addendum No. 1
Contract No. MA/CCF-478


ADDENDUM TO
MARITIME ADMINISTRATION
CAPITAL CONSTRUCTION FUND AGREEMENT
WITH
NATIONAL STEEL AND SHIPBUILDING COMPANY


THIS AGREEMENT, made by and between the Maritime Administrator, Department of Transportation (the "Maritime Administrator") and National Steel and Shipbuilding Company (the "Party"), a citizen of the United States, as an Addendum to that certain agreement, Contract No. MA/CCF-478.


WHEREAS: 1. On September 13, 1988 the parties hereto entered into a Capital Construction Fund Agreement (the "Agreement"), under section 607 of the Merchant Marine Act, 1936, as amended (the "Act");


2. The parties hereto desire to amend the Agreement in the manner hereinafter set forth; and


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:


I. Effective , 1988, the Agreement is amended by replacing the existing Schedules A, B, C, and D with the annexed revised Schedules A, B, C and D to (i) add the S. S. WORTH to Schedule A as an eligible vessel; (ii) to modify and increase the deposit ceilings, program objectives and minimum deposits as set out in the annexed revised Schedules B and D; and (iii) designate Idaho First National Bank and Bank of America N.T. & S.A. as depositories, at the same time deleting Morgan Guaranty Trust Company, as set out in Schedule C, and eliminating dated information concerning sources of funds.


II. Except as herein otherwise expressly provided, the Agreement shall remain in full force and effect.


IN WITNESS WHEREOF, the Maritime Administrator and the party have executed this Addendum No. 1 in quadruplicate, on the dates indicated below, to be effective on the 13th day of September, 1988.


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UNITED STATES OF AMERICA SECRETARY OF TRANSPORTATION NATIONAL STEEL AND MARITIME ADMINISTRATOR SHIPBUILDING COMPANY


By: /s/ James J. Zok By: /s/ James M. Temenak
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(Contracting Officer)


Name: James M. Temenak
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Title: Vice President
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ATTEST: ATTEST:


DISTRICT OF COLUMBIA:


By: [SIGNATURE ILLEGIBLE] By: /s/ Sharon G. Maliska
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Secretary My Commission Expires March 31, 1991
Maritime Administration


Date: Name: Sharon G. Maliska
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Title: Notary Public
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(SEAL) (SEAL)


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