Capital Construction Fund Agreement-addendum No. 2

Addendum No. 2
Contract No. MA/CCF-478


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


This Addendum is made by and between the Maritime Administrator (the "Administrator"), and National Steel and Shipbuilding Company, a citizen of the United States (the "Party"), as an addendum to that certain Capital Construction Fund ("CCF") Agreement Contract No. MA/CCF-478 (the "Agreement").


WHEREAS:


1. The Administrator and the Party entered into the Agreement on September 13, 1988 under Section 607, Merchant Marine Act, 1936, as amended (the "Act");


2. The Administrator on August 6, 1992, approved the amendment of Schedule A of the Agreement to delete the SS WORTH (Official No. 7600548), the SS ROSE CITY (Official No. 7607891), the MR. ED (Official No. 575765) and the HAPPY (Official No. 228709) from the list of eligible agreement vessels;


3. The Administrator on August 6, 1992, approved an amendment to Schedule B to


A. Delete the construction/acquisition of a 209,000 DWT Alaska Class Tanker with an estimated contract price of $130 million to be delivered in January 1991;


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B. Add the construction/acquisition of two 40,000 DWT product tankers with an estimated contract price of $160 million to be delivered in 1993;


C. Change the construction/acquisition of a passenger cruise ship of about 1,800 passenger capacity for operation in inter-island Hawaii with an estimated contract price of $225 million to two 500-plus passenger cruise ships to be delivered in 1994 with an estimated contract price of $200 million each;


D. Change the construction/acquisition of two 2,000 TEU containerships with an estimated contract price of $200 million to the R.J. PFEIFFER, a 2,000 TEU containership to be delivered on June 15, 1992 with an estimated contract price of $120 million;


4. The Administrator on August 6, 1992 approved the amendment of Schedule C to reflect changes in names from West One Trust to West One Bank, Idaho and from Citicorp Bank to Citicorp Trust of California. The approval also added Sanwa Bank California and The Bank of California as depositories.


5. The Parties desire to amend the agreement as set forth in this Addendum.


NOW, THEREFORE, the Administrator and the Party a ...