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CONFORMED COPY 
 
LOAN NUMBER 7265-BR 
 
Guarantee Agreement 
 
(Amapá Sustainable Communities Project) 
 
between 
 
FEDERATIVE REPUBLIC OF BRAZIL 
 
and 
 
INTERNATIONAL BANK FOR RECONSTRUCTION 
AND DEVELOPMENT 
 
Dated June 2, 2006 
 
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LOAN NUMBER 7265-BR 
 GUARANTEE 
AGREEMENT
 
AGREEMENT, dated June 2, 2006, between the FEDERATIVE REPUBLIC OF 
BRAZIL (the Guarantor) and the INTERNATIONAL BANK FOR 
RECONSTRUCTION AND DEVELOPMENT (the Bank). 
 
WHEREAS (A) the Guarantor and the State of Amapá (the Borrower), having 
been satisfied as to the feasibility and priority of the project (the Project) described in 
Schedule 2 to the Loan Agreement of even date herewith between the Bank and the 
Borrower (the Loan Agreement), have requested the Bank to assist in the financing of the 
Project; 
(B) by the Loan Agreement, the Bank has agreed to extend to the Borrower a 
loan in the amount of four million eight hundred thousand Dollars ($4,800,000), on the 
terms and conditions set forth in the Loan Agreement, but only on condition that the 
Guarantor agree to guarantee the payment obligations of the Borrower in respect of such 
loan as provided in this Agreement; and 
 
WHEREAS the Guarantor, in consideration of the Bank’s entering into the Loan 
Agreement with the Borrower, has agreed so to guarantee such obligations of the 
Borrower; 
 
NOW THEREFORE the parties hereto hereby agree as follows: 
ARTICLE I 
General Conditions; Definitions 
Section 1.01. 
The “General Conditions Applicable to Loan and Guarantee 
Agreements for Fixed-Spread Loans” of the Bank dated September 1, 1999 (as amended 
through May 1, 2004), with the modification set forth in Section 1.01 of the Loan 
Agreement (the General Conditions) constitute an integral part of this Agreement. 
Section 1.02. 
Unless the context otherwise requires, the several terms defined 
in the General Conditions and in the Preamble to and Section 1.02 of the Loan 
Agreement have the respective meanings therein set forth. 
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ARTICLE II 
Guarantee
 
Section 2.01. 
Without limitation or restriction upon any of its other obligations 
under this Agreement, the Guarantor hereby unconditionally guarantees, as primary 
obligor and not as surety merely, the due and punctual payment of the principal of, and 
interest and other charges on, the Loan, and the premium, if any, on the prepayment of 
the Loan, all as set forth in the Loan Agreement. 
 
ARTICLE III 
Representative of the Guarantor; Addresses 
Section 3.01. 
The Minister of Finance of the Guarantor is designated as 
representative of the Guarantor for the purposes of Section 11.03 of the General 
Conditions. 
Section 3.02. 
The following addresses are specified for the purposes of Section 
11.01 of the General Conditions: 
 
For the Guarantor: 
 
Ministério da Fazenda  
 
Procuradoria Geral da Fazenda Nacional 
 
Esplanada dos Ministérios, Bloco “P” - 8ş
 
andar 
 
70048
-
900
Brasília, D.F. 
 
Brazil 
 
Facsimile: (011-55-61) 412-1740 
 
For the Bank: 
 
International Bank for 
 
Reconstruction and Development 
 
1818
H
Street, N.W. 
 
Washington, D.C. 20433 
 
United States of America 
 
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Cable 
address: 
  Telex: 
  Facsimile: 
 
INTBAFRAD 
 
 
248423 (MCI) or 
(202) 477-6391 
 
Washington, D.C. 
     
  64145 (MCI) 
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IN WITNESS WHEREOF, the parties hereto, acting through their duly 
authorized representatives, have caused this Agreement to be signed in their respective 
names in 
the city of Brasília, Federal District, Brazil, as of the day and year first above 
written. 
 
FEDERATIVE REPUBLIC OF BRAZIL 
 
By /s/ Ana Lúcia Gatto de Oliveira 
 Authorized 
Representative 
 
INTERNATIONAL BANK FOR 
 
RECONSTRUCTION AND DEVELOPMENT 
 
By /s/ John Briscoe 
 Authorized 
Representative