3 STAT.] PERU-COOPERATIVE EDUCATION- A ep 28, 1949 Sept. 1, 1949 EXTENSION AGREEMENT The REmUBLo OF PERU (hereinafter referred to as the "Republic") represented by Coronel Juan Mendoza R., the Minister of Public Edu- cation, (hereinafter referred to as the "Minister"), and THE INSmTUTE OF INTE'-AMrTCAN AFFAIRS (hereinafter referred to as the "Insti- tute"), a corporate instrumentality of the Government of the United States of America, represented by its Special Representative, Educa- tion Division, Lyle B. Pember, (hereinafter referred to as the "Special Representative"), have agreed, pursuant to the request of the Republic, and in accordance with the subsequent exchange of notes dated August 26, 1949, and Sept. 1, 1949, between the American Ambassador and the Peruvian Minister of Foreign Affairs, upon the following technical details for extending and modifying, in the manner hereinafter set forth, the Agreement executed by the Republic and the predecessor of the Institute in April 1944, as subsequently modified and extended (hereinafter referred to as the "Basic Agreement"), providing for a cooperative education program to be carried on in Peru. CLAUSE I The cooperative education program provided for in the Basic Agree- ment is hereby extended for an additional period of one year from June 30, 1949, through June 30, 1950. The parties hereto hereby ex- press their complete satisfaction with the way the Servicio Coopera- tivo Peruano-Norteamericano de Educaci6n (hereinafter referred to as the "Servicio") has operated since it was established, and their recognition of the effectiveness and efficiency of the services rendered by the Servicio to the education of Peru. 2883 Ante, pp. 289, 288. 61 Stat., Pt. 4, p. 3871; 62 Stat., Pt. 3, p. 3866. Period of extenson. CLAUSE II In addition to the funds required by the Basic Agreement and/or Funds. extensions thereto to be contributed or otherwise made available by the parties thereto with respect to the cooperative education program, the parties hereto shall contribute and make available funds for use in continuing the program during the period covered by this Extension Agreement in accordance with the following schedule: 1. The Institute shall make available the funds necessary to pay the salaries and all other expenses of its Education Division field staff in Peru during the period covered by this Extension Agreement, pro- vided that the amount of such funds shall not exceed $129,000.00 . This amount shall be administered by the Institute and shall not be deposited to the credit of the Servicio. 2. The Institute shall deposit to the credit of the Servicio the sum D"w of $50,000.00, or its equivalent in soles, as follows:
�
