The agreement between the Government of the Republic of Kazakhstan and the Government of the Kyrgyz Republic on settlement of the property rights of the Republic of Kazakhstan to the objects of resort and recreational economy located in the territory of the Issyk kul region of the Kyrgyz Republic

of July 4, 2006

The government of the Republic of Kazakhstan and the Government of the Kyrgyz Republic which further are referred to as with the Parties according to the Agreement on mutual recognition of the rights and regulation of the relations of property of October 9, 1992 and the Protocol between the Government of the Republic of Kazakhstan and the Government of the Kyrgyz Republic on recognition of the property rights of the Republic of Kazakhstan to the real estate units which are in the territory of the Kyrgyz Republic of December 25, 2003 agreed as follows:

Article 1

1. Kyrgyz Side:

1) shall within 5 months from the moment of the signature of this agreement carry out the interstate procedures necessary for its introduction in force;

2) no later than one month from the date of entry into force of this agreement is drawn up by the property right of the Republic of Kazakhstan to the buildings and constructions located in the territory of the Issyk kul region of the Kyrgyz Republic namely:

sports base of the Republican state company "Olimp fitness center (former rest house "Motorist of Kazakhstan" (village of Korumdy);

Samal rest house (settlement of Bosteri);

sanatorium Kazakhstan (city of Cholpon-Ata);

sports camp "University" (settlement of Bosteri).

2. The Kazakhstan Side after registration of the rights of its property to the objects specified in the subitem 2) of Item 1 of Article 1 of this agreement will take the following measures on:

to bringing to the level of the 3rd or 4th stars hotels whenever possible with year-round functioning:

sanatorium Kazakhstan - within two years,

sports base of the Republican state company "Olimp fitness center (the former rest house "Motorist of Kazakhstan"), Samal rest house, the sports camp "University" - within four years;

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