Fernandez reveals addendum

[NewsWhore]

Speaking yesterday, President Leonel Fernandez revealed the existence of an addendum between the government and the Sun Land Corporation that reduces the amount of works being built with the US$130 million Sun Land loan from 11 to 5. The addendum also extends the period, until 15 July 2008, in which the works are to be finished. Among the works are the parking structure, the "Dr. Heriberto Pieter Cancer Center," a university cafeteria, and the UASD technological and administrative building. The total costs of the works are US$111,986,906 of which US$87,517,862.88 corresponds to construction and US$24,469,043.12 corresponds to equipment. There is also an added US$18,013,094 for legal fees, bank fees, insurance, finance interest and other costs. As for the form of repayment, it will be included in the 2008 budget. The first repayment will be of a US$13,684,210 sum, paid on 15 January, the second part will be a US$29,006,717 sum paid on 12 February, the third will be a US$22,164,612 sum paid on 15 March and the final sum of US$22,164,612 will be paid on 15 April. The fifth and sixth payments will be for the sums of US$14,262,924 and will be paid on 15 May and 15 July. The final sum, of US$14,454,001, will be paid on 15 July 2009.

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