:59:09
We have come here today...
:59:14
to sign a loan contract
between the Thiess company...
:59:17
and Mr. Franz Biberkopf.
:59:22
I assume
that everyone present...
:59:25
is familiar with the form...
:59:26
of the general commercial
partnership...
:59:30
and I shall proceed
to read the contract.
:59:34
"The Thiess partnership...
:59:36
"represented by the partners,
Mr. Wolf Thiess...
:59:38
"Mrs. Berta Thiess,
and Mr. Franz Biberkopf...
:59:41
"agree to the following
loan contract.
:59:43
"Paragraph 1: Franz Biberkopf...
:59:47
"shall grant the Thiess
commercial partnership a loan...
:59:50
"amounting to DM 100,000...
:59:52
"100,000 German marks.
:59:54
"Paragraph 2:
:59:56
"Interest shall be paid at
an annual rate of 7 percent...
:59:59
"or at the Federal Bank rate,
should this exceed 7 percent.
1:00:04
"Paragraph 3:
The loan period is two years.
1:00:08
"The loan may not be terminated
within this period.
1:00:11
"Paragraph 4:
As security for this loan...
1:00:14
"Franz Biberkopf shall
be assigned...
1:00:17
"outstanding debts having
a value of DM 100,000...
1:00:20
"100,000 German marks...
1:00:22
"which shall be recovered
by the Thiess company.
1:00:25
"In the event of the Thiess
company falling into arrears...
1:00:28
"Franz Biberkopf may lay claim
to the recovered debts...
1:00:33
"up to 100%% % of the loan sum.
1:00:36
"Paragraph 5:
The method of loan repayment..."