UA-R-GC-1914-01-01-1972-10-18_Page-010

THE AMERICAN UNIVERSITY IN CAIRO I I "0 va' ~ 'I Dear M~. Costant i no: . SUBJECT: Grant AID/csd 2476, Compl iance with Conditions set forth in Article I I I The fol lowing represents the University's detai led response with respect to the conditions set forth in Article III, Grant AID/csd 2476: BUSINESS Of:<FICE b.. '-'?J' Jla...f .", '-l Article I I I (a).- The University provided your office with the materials requested in June and July of 1969. Article I I I (b).- We enclose a document (Appendix I) from our lawyers, Messrs. Hashem Ibrahim and Fahim, which ex~lains that the entity to be set up to operate the Endowment Fund in accordance with Article I I I (e) wi I I in no way be effected or covered by the current Sequestration of the University. On this basis, the entity would have complete freedom within the framework of Egyptian commercial law to invest the assets of the 'Endowment Fund, and to disburse or not disburse the net income to the Institution. I We should further point out that the University has never ceased to be under the actual control and ful I ownership of its Board of Trustees. Three items in support of this fact are enclosed. First, certified copies Df the exchange of no~es in August 1971 between the U.S. Department of State and the Egyptian ~~inistry of Foreign Affairs (Appendix I I), indicating that the University is to be considered a Cultural Institution within the framework of Article I (d) of the Cultural Agr'eement (Append i x III) between the Un i ted States of America and the United Arab Republ ic signed at Cairo on May 21, 1962. An examination of this 1962 Cultural Agreement wi I I revea I, we' be I i eve, that the Un i vers i ty is fully protected by the Agreement, and .is free to " . • ./2 113. SHARIA KASR EL. AINI, CAIRO, EGYPT, U,A.R. .rII,{;."f:i:, .21~ L.lU I , ~ I~ eJu. 'lit'