<SEC-DOCUMENT>0001144204-17-054137.txt : 20171025
<SEC-HEADER>0001144204-17-054137.hdr.sgml : 20171025
<ACCEPTANCE-DATETIME>20171025165909
ACCESSION NUMBER:		0001144204-17-054137
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20160822
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171025
DATE AS OF CHANGE:		20171025

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Consolidated Water Co. Ltd.
		CENTRAL INDEX KEY:			0000928340
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25248
		FILM NUMBER:		171153523

	BUSINESS ADDRESS:	
		STREET 1:		REGATTA OFFICE PARK, WINDWARD THREE,
		STREET 2:		4TH FLOOR, WEST BAY ROAD, P.O. BOX 1114
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1102
		BUSINESS PHONE:		345-945-4277

	MAIL ADDRESS:	
		STREET 1:		REGATTA OFFICE PARK, WINDWARD THREE,
		STREET 2:		4TH FLOOR, WEST BAY ROAD, P.O. BOX 1114
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONSOLIDATED WATER CO LTD
		DATE OF NAME CHANGE:	19990330

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CAYMAN WATER CO LTD
		DATE OF NAME CHANGE:	19941212
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>tv476946_8ka1.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AMENDMENT NO. 1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>TO </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>August 22, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>CONSOLIDATED
WATER CO. LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Cayman Islands, B.W.I.</B></FONT></TD>
    <TD STYLE="width: 34%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>0-25248</B></FONT></TD>
    <TD STYLE="width: 33%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>98-0619652</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of Incorporation)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Commission File No.)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Regatta Office Park</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Windward Three, 4<SUP>th</SUP> Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>West Bay Road, P.O. Box 1114</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Grand Cayman, KY1-1102</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Cayman Islands</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(345) 945-4277</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #333333">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instructions A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; color: #333333">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #333333">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #333333">Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #333333">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #333333">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #333333">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #333333">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #333333">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #333333">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp; <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Explanatory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Amendment No.
1 to Form 8-K (this &ldquo;Amendment&rdquo;) amends the Current Report on Form 8-K of Consolidated Water Co. Ltd. (the &ldquo;Company&rdquo;)
filed with the Securities and Exchange Commission on August 26, 2016 (the &ldquo;Original Report&rdquo;) related to the entry
into a public-private partnership contract between the State of Baja California, Mexico and Aguas de Rosarito S.A.P.I. de C.V.,
a special purpose vehicle that is a subsidiary of N.S.C. Agua, S.A. de C.V. (&ldquo;NSC&rdquo;), for the design, construction,
financing, and operation of a seawater desalination plant in Playas de Rosarito, Baja California, Mexico. NSC is a 99.9% owned
subsidiary of the Company. This Amendment is being filed solely for the purpose of filing Exhibit 10.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as described above,
this Amendment makes no other changes to the Original Report and does not modify or update in any way disclosures made therein
to reflect events occurring after the filing date of the Original Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in; font-size: 10pt"><B>Item 9.01.</B></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><B>Financial Statements and Exhibits.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 11%; border-bottom: black 1pt solid; font-size: 10pt; text-align: justify"><B>Exhibit&nbsp;No.</B></TD>
    <TD NOWRAP STYLE="width: 1%; font-size: 10pt; text-align: center"><B>&nbsp;</B></TD>
    <TD NOWRAP STYLE="width: 88%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><B>Title</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tv476946_ex10-1.htm" STYLE="-sec-extract: exhibit">10.1</A></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><A HREF="tv476946_ex10-1.htm" STYLE="-sec-extract: exhibit">Public-Private Partnership Contract dated August 22, 2016 among Aguas de Rosarito S.A.P.I. de C.V., the State Water Commission of Baja California, the Government of Baja California represented by the Secretary of Planning and Finance, and the Public Utilities Commission of Tijuana.</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.5pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">CONSOLIDATED WATER CO. LTD.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid">/s/ David W. Sasnett</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD>David W. Sasnett</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Executive Vice President &amp; Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: October 25, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tv476946_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="sidue_logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><IMG SRC="cea_logo.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC BIDDING N&deg; SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGREEMENT No. C- SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PUBLIC PRIVATE PARTENERSHIP AGREEMENT</B>
for the:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;CONSTRUCTION, FINANCING AND OPERATION
OF A DEASLINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CONSISTING OF:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>A DESALINATION PLANT WITH A CAPACITY
OF UP TO 4.4 M3/SECOND IN TWO STAGES: THE FIRST WITH A CAPACITY OF 2.2 M3/SECOND, AND AN AQUEDUCT TO THE DELIVERY POINT IN TANK
3, MUNICIPALITY OF TIJUANA AND THE EXPANSION OF THE MENTIONED TANK TO 20,000 M3; AND THE SECOND WITH A CAPACITY OF 2.2 M3/SECOND,
AND AN AQUEDUCT FROM TANK 3 TO THE POTABILIZATION PLANT OF EL FLORIDO, MUNICIPALITY OF TIJUANA, INCLUDING THE DESIGN, PREPARATION
OF THE EXECUTIVE PROJECT, CONSTRUCTION, ELECTROMECHANIC EQUIPMENT AND FUNCTIONALITY TESTS OF THE DESALINATION PLANT AND THE AQUEDUCTS,
AS WELL AS THE OPERATION, CONSERVATION AND MAINTENANCE, INCLUDING CONDUCTION AND DELIVERY OF UP TO 4,400 LITERS PER SECOND, TREATMENT
AND DISPOSAL OF THE WASTE WATER, DURING AN OPERATION PERIOD OF 37 YEARS. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUGUST 22, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">First. Subject matter of the Agreement</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">26</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Second. Term of the APP</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">27</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Third. Description of the Works</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fourth. Terms for Execution</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fifth. Execution of the Project and Financing</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">32</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sixth. Operation of the System</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">34</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Seventh. Replacement of Equipment, Conservation and Maintenance</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Eight. Real Estate</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">37</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ninth. Property of the Assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">38</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tenth. Procurement of Permits and Authorizations</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">39</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Eleventh. Consideration for the Services</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">39</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twelfth. Adjustments to the Amount of the Consideration</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">46</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirteenth. Form of Payment of the Consideration</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">46</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fourteenth. Intentionally left blank</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fifteenth. Intake Water Availability</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sixteenth. Quality and Quantity of the Potable Water</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">49</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Seventeenth. Water Monitoring</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">50</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Eighteenth. Environmental Laws</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">50</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nineteenth. Waste Water</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">51</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twentieth. Contributions and Penalties</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">52</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty First. Industrial and Intellectual Property</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">52</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Second. Logbook</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif">53</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="vertical-align: top; width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Third. Supervision and Inspection of the Works</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">53</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Fourth. Minutes</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">53</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Fifth. Conditions to Deliver the System</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">58</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Sixth. Intentionally left blank</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">60</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Seventh. Insurances</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">60</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Eighth. Guarantees provided by the Developer</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">62</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Twenty Ninth. Resources of the Consideration</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">67</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirtieth. Early Termination of the APP</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">68</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty First. Rescission</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">71</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Second. Early Termination due to Act of God or Force Majeure Event</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">76</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Third. Early Termination due to General Interest Reasons or Justified Causes</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">78</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Fourth. Procedure to Solve Technical Controversies</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">79</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Fifth. Conventional Penalties for Breach</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">80</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Sixth. Labor Liability</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">82</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Seventh. Assignment of Rights and Subcontracting</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">83</FONT></TD></TR>
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    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Eighth. Notices</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">83</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thirty Ninth. Discrepancies in the Information</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">84</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fortieth. Arbitration</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">85</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty First. Exhibits</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">86</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Second. Public Nature of the Public Private Partnership Agreement APP</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">87</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Third. Amendments to the APP</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">87</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Fourth. Conditions for the Commencement of the Effectiveness of the APP</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">88</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Fifth. Administration Trust</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">90</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Sixth. Total Cost of the System</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">90&nbsp;</FONT></P></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Seventh. Maximum Limit of Liability </FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">93</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Eighth. Obligations of the Developer</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">93</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Forty Ninth. Liability for the Quantity and Quality of the Water</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">94</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fiftieth. Confidentiality</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">95</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fifty First. Obligations of CEA</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">95</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fifty Second. Headings</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">96</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fifty Third. Unconditional Acceptance</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">96</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>PUBLIC PRIVATE PARTNERSHIP AGREEMENT
(APP)</B> HEREBY ENTERED INTO ON ONE PART BY THE BAJA CALIFORNIA STATE WATER COMMISSION, WHICH SHALL HEREINAFTER BE REFERRED TO
AS &ldquo;<B>CEA</B>&rdquo; REPRESENTED HEREIN BY MR. GERM&Aacute;N JES&Uacute;S LIZOLA M&Aacute;RQUEZ, IN HIS CAPACITY AS GENERAL
DIRECTOR, AND THE MERCANTILE COMPANY NAMED <B>AGUAS DE ROSARITO, SOCIEDAD AN&Oacute;NIMA PROMOTORA DE INVERSI&Oacute;N DE CAPITAL
VARIABLE,</B> WHICH SHALL HEREINAFTER BE REFERRED TO AS THE &ldquo;<B>DEVELOPER</B>&rdquo;, REPRESENTED HEREIN BY <B>MESSRS. MICHAEL
AVANT SMITH, FREDERICK W. MCTAGGART </B>AND <B>LAUTARO MANUEL MILLAMAN-TERUEL, </B>IN THEIR <B>CAPACITY OF MEMBERS OF THE BOARD
OF DIRECTORS</B>, ALSO APPEARING THE TIJUANA STATE COMMISSION Of PUBLIC UTILITIES, AS JOINTLY LIABLE, HEREINAFTER THE &ldquo;<B>CESPT</B>&rdquo;,
REPRESENTED HEREIN BY MR. <B>MIGUEL LEMUS ZENDEJAS</B>, IN HIS CAPACITY AS <B>GENERAL DIRECTOR</B>, AND <B>THE GOVERNMENT OF THE
STATE OF BAJA CALIFORNIA</B>, THROUGH <B>THE MINISTRY OF PLANNING AND FINANCING</B>, HEREINAFTER THE &ldquo;<B>SPF</B>&rdquo;,
REPRESENTED HEREIN BY <B>MR. ANTONIO VALLADOLID RODR&Iacute;GUEZ</B>, IN HIS CAPACITY AS <B>SECRETARY OF PLANNING AND FINANCING</B>,
PURSUANT TO THE FOLLOWING ANTECEDENTS, STATEMENTS, DEFINITIONS AND CLAUSES:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANTECEDENTS</B></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">In order to satisfy the demand of potable water currently required in the <B>Municipalities of
Playas de Rosarito and Tijuana, State of Baja California</B> and the requirements of its future development and trying to preserve
the natural resources and the aquifers that supply the region, as one of the essential objectives of this administration to exercise
a democratic and humanized government, which guarantees the respect of the law and decidedly encourages the participation of the
society and allows to offer quality infrastructure and services to improve the life conditions of the residents of Baja California,
<B>CEA</B> has made, jointly with the promoter of the <B>PROJECT</B>, the necessary studies to identify the alternatives that allow
the sufficient and timely supply of potable water for the oncoming forty years.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">One of the alternatives to obtain such water supply, which evidences the best financial viability,
is through a public private partnership scheme, in which <B>CEA </B>hires the public private partnership for the collection, desalinization
of seawater, its potabilization and conduction in block to the established delivery point, which includes the preparation of a
project integrating the engineering, financing, construction, start of operations and maintenance of a desalination plant, whose
fundamental purpose is the desalination of seawater and block delivery through <B>CEA</B> to <B>CESPT</B> with the quality required
by the applicable health provisions in effect, in the amount and time required for the growing development of the communities of
the municipalities of Playas de Rosarito and Tijuana; as well as to manage, conduct and dispose of the waste water with the guarantee
of preservation and non-alteration of the surrounding environment.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The State Committee of Public Private Partnership Projects (Projects Committee), as a collegiate
and institutional body for the analysis, opinion and decision, that collaborates in the authorization procedure of public private
partnership projects conducted by <B>CEA</B>, pursuant to the provisions of the <B>LAPPEBC</B>, and being formed by the SPF, which
presides over the Projects Committee; the Secretary of General Government <B>(SGG)</B>; the General Coordination of the Cabinet
(<B>CGG</B>); the Major Government Surveillance Office <B>(OMG)</B>; the Ministry of Economic Development <B>(SDE)</B>; the Direction
of Governmental Control and Evaluation <B>(DCEG)</B>; and <B>SIDUE</B>, which shall act as the Executive Secretary of the Committee,
authorized in the session held on <B>July 16, 2015</B>, the call for the public bidding procedure of the <B>PROJECT</B>.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">That this <B>APP </B>is executed under such scheme to establish a long term contractual relationship
between instances of the public and private sectors, for the supply of services to the public sector or the final user and in which
the infrastructure and resources used are completely or partially provided by the private sector, for which it has determined to
entrust the <B>DEVELOPER</B> with the supply of the services referred to in this <B>APP</B>.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">In the Second Ordinary Session of 2015 of the Projects Committee, it was unanimously authorized
by the members of the Committee, and consequently agreed to call to a public bidding process in accordance with the provisions
of chapter four of the <B>LAPPEBC</B>, pursuant to the principles of legality, free concurrence, competition, objectiveness, impartiality,
transparency and publicity, awarding the project to the best conditions of price, quality, financing and opportunity. Thus <B>CEA</B>
requested the support of the Technical Unit of Investment of <B>SIDUE</B> to collaborate in the public bidding procedure of the
authorized project mentioned below (the &ldquo;<B>CALL</B>&rdquo;) and to deliver to <B>CEA, </B>once awarded, the necessary documents
to contract with the winner, pursuant to the applicable provisions of the <B>LAPPEBC</B> and its Regulations.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">PUBLIC INTERNATIONAL CALL FOR
THE PUBLIC PRIVATE PARTNERSHIP NUMBER 002/2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&ldquo;CONSTRUCTION, FINANCING
AND OPERATION OF A DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO (WATER PRODUCTION THROUGH DESALINIZATION)&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Consisting of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>A DESALINATION PLANT WITH
A CAPACITY OF UP TO 4.4 M3/SECOND IN TWO STAGES: THE FIRST WITH A CAPACITY OF 2.2 M3/SEC, AND AN AQUEDUCT TO THE DELIVERY POINT
IN TANK 3, MUNICIPALITY OF TIJUANA AND THE EXPANSION OF THE MENTIONED TANK TO 20,000 M3; AND THE SECOND WITH A CAPACITY OF 2.2
M3/SECOND, AND AN AQUEDUCT FROM TANK 3 TO THE POTABILIZATION PLANT OF EL FLORIDO, MUNICIPALITY OF TIJUANA, INCLUDING THE DESIGN,
PREPARATION OF THE EXECUTIVE PROJECT, CONSTRUCTION, ELECTROMECHANIC EQUIPMENT AND FUNCTIONALITY TESTS OF THE DESALINATION PLANT
AND THE AQUEDUCTS, AS WELL AS THE OPERATION, CONSERVATION AND MAINTENANCE, INCLUDING CONDUCTION AND DELIVERY OF UP TO 4,400 LITERS
PER SECOND, TREATMENT AND DISPOSAL OF THE WASTE WATER, DURING AN OPERATION PERIOD OF 37 YEARS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Public Bidding Procedure No.:
SIDUE-CEA-APP-2015-002&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Agreement No.: C-SIDUE-CEA-APP-2015-002</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>CEA </B>and <B>CESPT</B> shall execute the <B>WATER PURCHASE AND SALE AGREEMENT, </B>with the
purpose of having <B>CEA</B> supplying to <B>CESPT</B> the <B>amount</B> of annual cubic meters of <B>POTABLE WATER </B>in block,
pursuant to the provisions of this <B>APP</B>, which, in turn, shall pay <B>CEA</B> the necessary resources to pay the <B>CONSIDERATION</B>
to the <B>DEVELOPER</B>, pursuant to this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD STYLE="text-align: justify">In exercise of the authority granted by the <B>Public Private Partnerships Law for the State of
Baja California (LAPPEBC) published in the Official Gazette No. 42, dated August 22, 2014, Section I, Volume CXXI and in the Regulations
of the Public Private Partnerships Law for the State of Baja California published in the Official Gazette No. 48, dated October
3, 2014, Section II, Volume CXXI</B>, <B>CEA</B> published the <B>CALL</B>, on <B>November 6, 2015</B>, which content responded
to the nature of the bidded services, as well as to the applicable legal requirements of the subject-matter. The <B>CALL</B> is
attached herein as <B>EXHIBIT 1</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">The eighteenth transitory article of the Income Law for the State of Baja California for Fiscal
Year 2016, authorizes <B>CEA</B> and the State of Baja California, through the <B>SPF</B>, to execute the necessary legal instruments
to offer the <B>CREDITORS</B> with an alternative and partial source of payment of the obligations of multiannual payments in public
private partnerships entered into by <B>CEA</B> for the supply of water, in terms of the <B>LAPPEBC</B>, approved by the State
Committee of Public Private Partnerships Projects for all of those projects formalized within fiscal year 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">Once the stages of the <B>PUBLIC BIDDING</B> were satisfied and the <B>PROPOSITIONS</B> filed by
the <B>CONTESTANTS</B> were received, analyzed and valued, <B>CEA, </B>jointly with <B>SIDUE</B>, pursuant to the provisions of
the <B>LAPPEBC, </B>issued the <B>AWARD</B> on June 15, 2016, resulting as winning participant thereof, the association comprised
by N.S.C. AGUA, SOCIEDAD AN&Oacute;NIMA DE CAPITAL VARIABLE, NUWATER, SOCIEDAD AN&Oacute;NIMA PROMOTORA DE INVERSI&Oacute;N DE
CAPITAL VARIABLE and DEGR&Eacute;MONT, SOCIEDAD AN&Oacute;NIMA DE CAPITAL VARIABLE. Copy of the <B>AWARD</B> is attached herein
as <B>EXHIBIT 2</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">In accordance with the provisions of the <B>BASES OF THE PUBLIC BIDDING</B>, the winning <B>CONTESTANT</B>
of the <B>PUBLIC BIDDING</B> incorporated the specific purpose mercantile company which is obliged to execute this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>I. CEA states, through its legal representative,
that:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.1.</B> The Strategic Plan
of Baja California 2013-2019 is the ruling project of the State Government, which constitutes the main pillar of the State Development
System. Pursuant to the law, such system intends to be an &ldquo;orderly prevision and the execution of actions that foster socioeconomic
development&rdquo;, through the actions of the government and the collaboration of the civil society in the &ldquo;politics, economic,
environmental, social and institutional life of the state&rdquo;, with the purpose and objective of &ldquo;improving the quality
of life of the population&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.2.</B> The State Development
Plan 2014-2019 determines that, the challenges faced by Baja California to achieve competitiveness for the integral development
of the State and its inhabitants, have been, mostly, the adaptation to changes in the technologic demands, the coverage of infrastructure
services and the general logistics capacity; likewise it states that it is sought for infrastructure to detonate the economic,
social, productive, competitive and sustainable development, favoring the sustainability criteria as guarantee of the wellbeing
of the present and future generations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.3.</B> The Ruling Axis 5,
called &ldquo;Infrastructure for the competitiveness and development&rdquo; has as a general objective the endowing of infrastructure
for the State, for a competitive development, through the efficiency of the potable water and water treatment services in the five
municipalities, disposing of land, housing and quality equipment that allow the development of the potential and the integral formation
of its population, under a participative and sustainable framework.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.4.</B> Within the Axis 5,
is the sub-axis 5.5, named &ldquo;potable water, sewer and sanitation&rdquo;, which has as a general objective the assurance, endowment
and maintenance of the supply sources, potable water, sewer and sanitation services, as well as the exploitation of the residual
treated waters, in the adequate quality and quantity in our State, preserving the safekeeping of the environment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.5.</B> It is a Descentralized
Public Entity of the State Government, with its own authority and assets, created through decree of the executive power dated March
2, 1999, published in the official gazette of the state on March 3, 1999.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.6.</B> Its authority include
the following: coordinating projects related to the conduction and distribution of water by the block through aqueducts systems
for the supply of the population; planning, regulating and coordinating the Potable Water, Sanitary Sewer and Treatment System
of the State; participating and, if applicable, drafting the programs arising from the State Development Plan related to the aforementioned
system; managing and obtaining the financing for fostering of the development of infrastructure and services; promoting, supporting
and, when applicable, managing the assignations, concessions and permits; with the purpose of endowing the population centers with
water; formulating alternative solutions in the use of energy sources for the operation of the conduction systems; and, the other
conditions granted by the law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.7.</B> For the execution
of this <B>APP,</B> it is duly represented by its General Director, Mr. <B>GERM&Aacute;N JES&Uacute;S LIZOLA M&Aacute;RQUEZ, </B>as
evidenced by the power of attorney granted by the Board of Directors, which testimony was formalized by Mr. Luis Alfonso Vidales
Moreno, notary public No. 5 of this municipality, as evidenced in the public deed number 155,867, volume 4,127, dated February
10, 2015, and which was registered before the Public Registry of Commerce under number 5717341, dated February 27, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.8. </B>Its assets consist,
among others, of the contributions made by the State and Federal Government, as well as by the water operating organisms or the
Municipalities, pursuant to transitory articles third and fourth of its Creation Decree, dated March 2, 1999, and its amendments
dated November 19, 2014 and January 27, 2006. <B>CEA</B> will make up its assets through the contributions of the water operating
organisms of the State and shall convene with them the corresponding contributions for the subsequent years, prior approval of
the Ministry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.1pt; text-align: justify"><B>I.9.</B> It has its domicile
in Bulevar An&aacute;huac No. 1016, Col. El Vidrio, C.P. 21080, Mexicali<B>, Baja California.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II. THE DEVELOPER STATES, THROUGH ITS
BOARD OF DIRECTORS, THAT:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.1. </B>It is a legally incorporated
company, pursuant to the Mexican mercantile law, as evidenced in public deed number 112,154 granted by Mr. Carlos Enr&iacute;quez
de Rivera Castellanos, notary public number 9 of the city of Mexicali, Baja California, dated August 17, 2016, and registered under
the Public Registry of Property and Commerce of the city of Mexicali, B.C., under the electronic mercantile folio number N-2016014561,
dated August 22, 2016, a certified copy of which is attached to this <B>APP </B>as <B>EXHIBIT 3</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.2. Messrs. MICHAEL AVANT SMITH (CHAIRMAN),
FREDERICK W. MCTAGGART (MEMBER) </B>AND <B>LAUTARO MANUEL MILLAMAN-TERUEL (ALTERNATE MEMBER) </B>evidence their authority as members
of the Board of Directors, in terms of the public deed mentioned in the statement II.1 above, in which the authority granted to
the Board of Directors is evidenced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.3.</B> Its main corporate purpose
is limited to the necessary activities for the compliance of the subject-matter of the <B>APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.4</B> It has ample and well-founded
knowledge of the necessities that motivate the execution of this <B>APP</B>, that it has duly inspected the site in which the <B>PROJECT
WORKS</B> shall be carried out and knows the characteristics of the region, as well as the prevailing weather conditions, which
it took into account for the preparation of the <B>PROPOSAL</B> filed in the <B>PUBLIC BIDDING</B> and to comply with the provisions
of the <B>COMMITMENT LETTER</B> attached herein as <B>EXHIBIT 4</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.5. </B>It has considered all the
intervening factors in the execution of the project of the <B>SEAWATER DESALINATION PLANT</B> of the Municipality of Playas de
Rosarito, Baja California, thus obliging itself to carry out all the necessary actions to execute the required investments and
expenses to carry out the <B>EXECUTIVE PROJECTS</B>, the equipment, the performance <B>TESTS</B>, the <B>SET-UP OF OPPERATIONS</B>
and operation of the <B>SYSTEM</B>, as well as its conservation and maintenance, causing that the latter achieves the water quantity
and quality commitments in a timely manner, as established in the <B>BASES OF THE PUBLIC BIDDING</B>, as well as <B>CLAUSES FIRST
AND SIXTEENTH </B>of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.6. It </B>has, through its shareholders,
affiliates and related parties, all the technical, financial and legal elements, as well as the applicable technology, equipment,
materials, machinery and specialized personnel for the execution and carrying out of the <B>WORKS</B> subject matter of this <B>APP</B>,
as well as its experience required by the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.7.</B> It has knowledge of the content
of the <B>APPLICABLE LAWS, </B>both in the State of Baja California and those of federal nature in the different subject-matters
governing the hiring and the services subject-matter of this <B>APP</B>, among which are the <B>LAPPEBC</B> and its Regulations,
the General Law of Ecologic Equilibrium and Environmental Protection and its Regulations, as well as the National Waters Law and
its Regulations, accepting to submit itself to its provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>II.8.</B> It has its tax domicile in
Boulevard S&aacute;nchez Taboada 10488-801, Zona R&iacute;o, C.P. 22320, in the city of Tijuana, State of Baja California, which
is hereby stated for the legal purposes and effects of this <B>APP</B>. Its Federal Taxpayers Registry number is <B>ARO160817RB5</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>III. CESPT STATES, THROUGH ITS REPRESENTATIVE,
THAT:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>III.1</B>. It is a decentralized public
organism of the Government of the State of Baja California, with its own legal capacity and assets, whose authority is the operation
of the potable water and sanitary sewer systems of the municipality of Tijuana Baja California, as well as the direct or contracted
execution of the works of its jurisdiction and the operation and maintenance of the mentioned systems, as well as the development
of activities that facilitate, directly or indirectly, the objectives for which it was created, in direct benefit of the population
of the municipality of Tijuana Baja California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>III.2.</B> It is duly represented by
its General Director, Mr. <B>Miguel Lemus Zendejas</B>, who evidences his authority through the designation issued by <B>Mr. Francisco
Vega de Lamadrid</B>, Constitutional Governor of the State of Baja California, which was granted on March 31, 2016, as well as
with a power of attorney granted pursuant to the provisions of Article 12 of the State Commissions of Public Services of the State
of Baja California, in Extraordinary Meeting of the Board of Administration on April 4, 2016, formalized under the public deed
number 196,460, volume 2,367, dated April 12, 2016, granted by Mr. Gabriel Moreno Mafud, notary public number 2 of this city, which
is duly registered before the Public Registry of Property and Commerce under entry 6009404 dated April 21, 2016 in the civil section
and under the electronic mercantile folio number 40086*2 dated April 20, 2016, which authority has not been limited nor restricted
in any manner to this date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>III.3. </B>It has established its domicile
in Bulevar Federico Ben&iacute;tez number 4057, 20 de Noviembre, in the city of Tijuana, Baja California, which is herein stated
for the legal purposes and effects of this <B>APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>III.4. CESPT,</B> shall guarantee the
payment of the consideration of this <B>APP </B>in charge of <B>CEA, </B>obliging itself to timely conduct and contribute to the
<B>ADMINISTRATION TRUST</B> all the payments that <B>CEA</B> is obliged to make with respect to the <B>CONSIDERATION</B> established
in this <B>APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>III.5. CEA </B>and <B>CESPT </B>shall
execute the <B>WATER PURCHASE AND SALE AGREEMENT, </B>through which, <B>CESPT</B> obliges itself to acquire from <B>CEA</B> all
the <B>POTABLE WATER </B>produced and delivered at the <B>DELIVERY POINT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IV. SPF STATES, THROUGH ITS REPRESENTATIVE,
THAT:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IV.1</B> It is herein represented by
its secretary, Mr. Antonio Valladolid Rodr&iacute;guez, who evidences his authority with the appointment granted by Mr. Francisco
Arturo Vega de Lamadrid, Governor of the State of Baja California, dated November 01, 2013, having the necessary authority to execute
this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IV.2 </B>It has established its domicile
in Edificio del Poder Ejecutivo, 4to. Piso, Calzada Independencia No. 994, 4to. Piso, Centro C&iacute;vico, C.P. 21000, Mexicali
Baja California, which is herein appointed for the legal purposes and effects of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IV.3</B> The <B>SPF</B> shall guarantee
the <B>CURRENT ACCOUNT LOAN</B> through the contribution, to the <B>MASTER GUARANTEE TRUST</B> of the necessary resources, including
without limitation, the necessary and sufficient percentage of income and rights for (i) income and rights for tax on personal
remuneration, in terms of transitory article eighteenth of the 2016 Income Law for the State, and/or (ii) income arising from the
state contributions, products and other state rights, pursuant to the provisions of this <B>APP</B>. Further, if necessary, the
<B>SPF</B> shall reconstitute such affectations, in such a manner that the amount of the guarantee shall remain available throughout
the term of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Having stated the foregoing, the <B>PARTIES</B>
agree to submit themselves to the following Defined Terms and Clauses:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>DEFINED TERMS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the terminology proposed in
the <B>BASES OF THE PUBLIC BIDDING, ITS EXHIBITS </B>and <B>APPENDIXES</B> whose award caused and forms part of this <B>APP</B>,
and for all its effects, the terms hereinafter enlisted shall have the meaning ascribed to them, as long as they are used with
capital letters or with the abbreviation included in the corresponding term, unless it is expressly indicated otherwise and may
be used in singular or plural form, as required by the intent of the corresponding sentence. The headings in this <B>APP</B> and
its Exhibits are only for practical purposes, and therefore shall not be considered for their interpretation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purposes of this <B>APP </B>the
following terms shall have the meaning mentioned below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>CREDITORS:</B> means the financial entities that have granted financing to the <B>DEVELOPER</B>
under the <B>FINANCIAL AGREEMENTS</B> for the development of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF CAPACITY: </B>Document or documents that shall be issued by the <B>DEVELOPER</B>,
duly executed by its representative, once it has complied with the norms and specifications of the Protocol of <B>TESTS</B> and
<B>SET-UP OF OPERATIONS</B> of the <B>SYSTEM</B> in which it shall be evidenced in a partial or total manner, as applicable, that
the <B>PROJECT WORKS</B> corresponding to the first stage of the <B>PROJECT</B> comply with the established <B>PRODUCTION CAPACITY</B>,
and which will be reviewed by the <B>SUPERVISION</B> and authorized by <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY:</B> Document that shall be issued
by <B>THE DEVELOPER</B> upon the expiration of the term of the <B>APP</B>, duly executed by its legal representative, which shall
contain the inventory and conditions of the equipment, machinery and premises that integrate the <B>SYSTEM</B> and in which it
shall be evidenced the <B>DELIVERY</B> by the <B>DEVELOPER</B> to <B>CEA</B>, of the ownership and operation of all the assets
that integrate the <B>SYSTEM</B>, gratuitously and with no lien whatsoever, as well as of the real estate of the <B>SEAWATER DESALINATION
PLANT</B>, in the conditions of normal functioning in which the <B>SYSTEM</B> is received. With the issuance and execution of these
minutes, the effects of the <B>APP</B> shall conclude, which shall be authorized and executed by <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF COMMENCEMENT OF CONSTRUCTION</B>: Document that shall be issued by the <B>DEVELOPER</B>,
executed by its legal representative, in which the date of commencement of the <B>PROJECT WORKS</B> corresponding to the first
stage of the <B>PROJECT</B> shall be established, once <B>CEA</B> has issued its <B>NON-OBJECTION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF COMMENCEMENT OF THE APP</B>: Document that shall be executed by the <B>PARTIES</B>
once the conditions for the <B>APP EFFECTIVENESS COMMENCEMENT </B>have been met, and whose effects shall be the commencement of
the <B>INVESTMENT PERIOD</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF COMMENCEMENT OF OPERATION:</B> Document in which it shall be evidenced that the <B>PROJECT
WORKS</B> corresponding to the first stage of the <B>PROJECT</B> have satisfactorily complied with the <B>TESTS</B>, which shall
be prepared and executed by the <B>DEVELOPER</B>, reviewed by the <B>SUPERVISION</B>, and submitted to the consideration of <B>CEA</B>,
for its issuance jointly with the <B>DEVELOPER</B>. With the issuance of these minutes, the monthly payments of the T1 + T2 + (T3
X Q) + (T4 X Q) tariffs shall commence; in the understanding that the T1 Tariff may commence to be paid prior to the lapsing of
the 37 (thirty seven) months following the <B>APP EFFECTIVENES COMMENCEMENT</B>, in accordance with the terms of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF TERMINATION OF THE CONSTRUCTION</B>: Document issued by the <B>DEVELOPER</B>, executed
by its legal representative, reviewed by the <B>SUPERVISION</B>, and authorized by <B>CEA</B>, in which it shall be evidenced the
termination of the construction and equipment of the first stage of the <B>SYSTEM</B> and the commencement of the <B>TESTS </B>and
<B>SET-UP OF OPERATIONS</B> period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>8.</B></TD><TD STYLE="text-align: justify"><B>FINANCIAL AGREEMENTS:</B> Means each and every loan agreement, promissory note, document, guarantee
agreement, mortgage, pledge agreement, subordination agreement and other documents related to the financing of debt for the construction
and development of the <B>PROJECT</B>, as well as all of the agreements for the protection of interest rates or exchange rates
related to such debt financing (with the understanding that such protection agreements shall be linked to the <B>FINANCIAL AGREEMENTS</B>
and will not have speculative purposes), including in each case any amendment, extension, renewal, refinancing and replacement
thereof (in the understanding that any refinancing shall maintain or improve the loan conditions), but excluding the financing
that have been entirely paid for.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This definition shall not consider
any type of document related to the financing of the debt contracted by the <B>DEVELOPER</B> after the <B>SET-UP OF OPERATIONS</B>
of the <B>PROJECT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>9.</B></TD><TD STYLE="text-align: justify"><B>INTAKE WATER:</B> The sea water that the <B>DEVELOPER</B> shall obtain from the <B>SITE</B>
to be desalinated and potabilized in the <B>SEAWATER DESALINATION PLANT</B>, which shall comply, at least, with the quality and
conditions established in the <B>PROPOSAL</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>10.</B></TD><TD STYLE="text-align: justify"><B>WASTE WATER: </B>Waste water that results from processes of the <B>SEA WATER DESALINATION PLANT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>11.</B></TD><TD STYLE="text-align: justify"><B>POTABLE WATER</B>: The treated water, transported, stored and delivered by the <B>DEVELOPER</B>
to <B>CEA</B> as a result of the desalination and treatment processes in the <B>SEAWATER DESALINATION PLANT</B>, which shall comply
with the quality and conditions established in the <B>PROPOSAL</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>12.</B></TD><TD STYLE="text-align: justify"><B>GOVERNMENTAL AUTHORITY:</B> Any governmental entity<B>, </B>whether federal, state or municipal,
or any ministry, department, court, <B>CEA</B>, council, entity, body or similar authority comprising any such governments.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>13.</B></TD><TD STYLE="text-align: justify"><B>APP:</B> This Public Private Partnership Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>14.</B></TD><TD STYLE="text-align: justify"><B>BASES OF THE PUBLIC BIDDING:</B> Bases for the participation in the <B>PUBLIC BIDDING</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>15.</B></TD><TD STYLE="text-align: justify"><B>LOGBOOK:</B> Technical instrument that constitutes the means of communication between the <B>PARTIES</B>,
in which the relevant matters and events arising during the execution of the <B>WORKS</B> and during the <B>INVESTMENT PERIOD </B>shall
be recorded, which shall comply with the provisions of article 126 of the Regulations of the <B>LAPPEBC</B> and upon conclusion
of this period, a new logbook shall be opened, for the <B>OPERATION PERIOD</B>, which shall contain the signatures of the authorized
personnel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>16.</B></TD><TD STYLE="text-align: justify"><B>CHANGE IN LAW:</B> Any change in the <B>APPLICABLE LAWS</B> (including the issuance or promulgation
of any other <B>APPLICABLE LAW</B>) as of the date of the filing of the <B>PROPOSAL</B>, to the extent that such change affects
or implies the modification of the original conditions presented by the <B>DEVELOPER</B> in its <B>PROPOSAL</B> or considered by
it, including without limitation: (a) fiscal matters related to taxes, (b) customs, (c) environmental provisions, (d) labor matters
related to the modification of the Minimum General Wage, published in the Federal Official Gazette, corresponding to the municipality
of Playas de Rosarito, to the modifications of benefits pursuant to the Federal Labor Law and the Social Security Law, (e) the
modification or imposing of any condition (additional to those originally established) for the issuance or renewal of any of the
authorizations, permits, licenses or concessions applicable to the <B>PROJECT</B>, and (f) in general, any Federal, State and/or
Municipal <B>APPLICABLE LAW</B> that modifies the original conditions submitted in the <B>PROPOSAL</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>17.</B></TD><TD STYLE="text-align: justify"><B>PRODUCTION CAPACITY:</B> The capacity measured in the <B>MEASURING POINT</B>, that is, at exit
of the <B>SEAWATER DESALINATION PLANT</B>, in terms of the flow of <B>POTABLE WATER</B> obtained from desalination, conducted,
deposited and delivered, which the <B>SYSTEM</B> shall have, and shall be guaranteed by the <B>DEVELOPER</B> in its <B>PROPOSAL</B>,
which shall be supplied as from the <B>DATE OF COMMENCEMENT OF OPERATIONS</B> and pursuant to the <B>PRODUCTION STANDARDS</B>;
the initial capacity shall be verified by the <B>TESTS </B>of the <B>SYSTEM</B>, prior to the <B>SET-UP OF OPERATIONS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>18.</B></TD><TD STYLE="text-align: justify"><B>RISK CAPITAL:</B> Amount that the <B>DEVELOPER</B> shall contribute with its own resources,
in an amount equal to or greater than 20% (twenty per cent) of the <B>COST OF THE SYSTEM.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>19.</B></TD><TD STYLE="text-align: justify"><B>COLLECTION:</B> Necessary works for the intake of <B>INTAKE WATER</B> that shall be performed
in the real estate of the Federal Electricity Commission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>20.</B></TD><TD STYLE="text-align: justify"><B>LETTER OF COMMITMENT:</B> Document establishing the commitments acquired by the <B>DEVELOPER,</B>
and delivered together with its <B>PROPOSAL</B>, which format is included in <B>EXHIBIT E</B> of the <B>BASES OF THE PUBLIC BIDDING.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>21.</B></TD><TD STYLE="text-align: justify"><B>ACT OF GOD</B>: Any event that is not caused by human will, arising from inevitable phenomena
caused by nature, which affects compliance of the obligations arising from the <B>BASES OF THE PUBLIC BIDDING</B> and the <B>APP</B>,
understanding as such, in an enunciative but not limitative manner, the following: <B>INTAKE WATER</B> quality and conditions established
in the <B>PROPOSAL</B>, earthquakes, tsunamis, avalanches, floods, cyclones, landslide, storms, tornadoes, lightning and fires.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>22.</B></TD><TD STYLE="text-align: justify"><B>FORCE MAJEURE EVENT:</B> Any event that is not caused by the will of the <B>PARTIES,</B> that
affects the compliance of their obligations arising from the <B>BASES OF THE PUBLIC BIDDING</B> or the <B>APP</B>, understanding
as such, in an enunciative but not limitative manner, the following: <B>INTAKE WATER</B> quality and conditions established in
the <B>PROPOSAL</B>, wars, insurrections, revolts, civil disturbances, mutiny, sabotage, fires, illicit acts or actions of the
users of the <B>POTABLE WATER</B> or of third parties, devaluation or radical changes in the economic conditions of the country,
transportation disasters whether maritime, airborne, train wrecks, or terrestrial, strikes or other labor disputes in Mexico which
are not caused by the breach of any labor agreement by the affected party, or strikes or other labor disputes outside of Mexico
that delay the delivery of any equipment, <B>GOVERNMENTAL AUTHORITY </B>acts (which are not voluntarily induced by the affected
party, nor occur as consequence of a breach to its obligations), any <B>CHANGE IN LAW</B> that cannot be remedied pursuant to the
provisions of this <B>APP</B>; the impossibility for any of the <B>PARTIES</B> to obtain in time or maintain the state in effect,
despite their best efforts and the compliance with the <B>APPLICABLE LAWS</B>, any authorization, permit, license, registry or
similar of any <B>GOVERNMENTAL AUTHORITY</B>, necessary to allow the affected party to comply with its obligations pursuant to
this <B>APP</B> and the lack of supply of electric energy to the <B>SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>23.</B></TD><TD STYLE="text-align: justify"><B>CESPT:</B> The Tijuana State Commission of Public Utilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>24.</B></TD><TD STYLE="text-align: justify"><B>CFE:</B> Federal Electricity Commission.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>25.</B></TD><TD STYLE="text-align: justify"><B>PUBLIC BIDDING:</B> Public Bidding N&deg; SIDUE-CEA-APP-2015-002.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>26.</B></TD><TD STYLE="text-align: justify"><B>COMPTROLLER: </B>The Direction of Governmental Control and Evaluation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>27.</B></TD><TD STYLE="text-align: justify"><B>WATER PURCHASE AND SALE AGREEMENT:</B> Agreement executed by <B>CEA</B> and <B>CESPT</B> with
the purpose of having <B>CEA</B> supplying water in block to <B>CESPT</B> and for the latter to oblige itself to pay the necessary
and sufficient resources to guarantee and pay the <B>CONSIDERATION</B> to the <B>DEVELOPER</B> pursuant to this <B>APP</B>, being
<B>CESPT</B> obliged to acquire all the <B>POTABLE WATER</B> at the <B>DELIVERY POINT</B> and expressly including the obligation
of <B>CEA</B> to assign its collection rights arising therefrom to the <B>ADMINISTRATION TRUST</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>28.</B></TD><TD STYLE="text-align: justify"><B>COST OF THE SYSTEM:</B> It is the amount of Mex. Cy. $8,525,746,895.00 (Eight billion, five
hundred and twenty five million, seven hundred and forty six thousand, eight hundred and ninety five pesos 00/100 Mexican currency)
using values of February 2016 without including <B>IVA,</B> which pursuant to the <B>PROPOSAL,</B> is the total amount of the <B>PROJECT
WORKS</B> and the <B>SUPERVISION</B> pursuant to the provisions of <B>CLAUSE FORTY SIXTH</B> of this <B>APP</B>, from which Mex.
Cy. $5,254,484,991.00 (Five billion, two hundred and fifty four million, four hundred and eighty four thousand, nine hundred and
ninety one pesos 00/100 Mexican currency) corresponds to the first stage of the <B>PROJECT</B>, and Mex. Cy. $3,271,261,904.00
(Three billion, two hundred and seventy one million, two hundred and sixty one thousand, nine hundred and four pesos 00/100 Mexican
currency) corresponds to the second stage of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>29.</B></TD><TD STYLE="text-align: justify"><B>COST OF THE WORKS:</B> It is the amount of Mex. Cy. $547,135,384.00 M.N. (Five hundred and forty
seven million, one hundred and thirty five thousand, three hundred and eighty four pesos 00/100 Mexican currency) using values
of the month of February 2016 without including I<B>VA</B>, which pursuant to the <B>PROPOSAL,</B> is the total amount of the complementary
resources pursuant to the provisions of <B>CLAUSE FORTY SIXTH</B>, from which Mex. Cy. $361,917,806.00 (Three hundred and sixty
one million, nine hundred and seventeen thousand, eight hundred and six pesos 00/100 Mexican currency) corresponds to the first
stage of the <B>PROJECT</B>, and Mex. Cy. $185,217,578.00 (One hundred and eighty five million, two hundred and seventeen thousand,
five hundred and seventy eight pesos 00/100 Mexican currency) corresponds to the second stage of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>30.</B></TD><TD STYLE="text-align: justify"><B>TOTAL COST OF THE SYSTEM:</B> It is the total amount of resources necessary to cover the items
mentioned in the following chart, in accordance with the provisions of <B>CLAUSE FORTY SIXTH:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; text-align: left">1 &nbsp;&nbsp;&nbsp;COST OF THE SYSTEM</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">8,525,746,895.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2 &nbsp;&nbsp;&nbsp;COST OF THE WORKS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">547,135,384.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">TOTAL</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">9,072,882,279.00</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>31.</B></TD><TD STYLE="text-align: justify"><B>CURRENT ACCOUNT LOAN:</B> Is the line of credit in an irrevocable and contingent current account
loan, which a financial institution shall grant to <B>CEA</B>, in reasonably acceptable terms for the <B>CREDITORS</B>, and which
shall have as its purpose to ensure the compliance of the payment obligations of <B>CEA</B> pursuant to this <B>APP</B> when <B>CEA</B>
does not comply with such obligations. The loan shall be for an amount equivalent to three months of payment of the <B>CONSIDERATION</B>,
plus the corresponding <B>IVA</B>, subject to the provisions of section six of <B>CLAUSE TWENTY-NINTH.</B> The <B>CURRENT ACCOUNT
LOAN</B> shall remain valid as long as the payment obligations of <B>CEA</B> in favor of the <B>DEVELOPER </B>exist pursuant to
this <B>APP</B>, and the disposition rights and resources arising from the exercise thereof shall be irrevocably affected to the
<B>ADMINISTRATION TRUST</B>. To guarantee the <B>CURRENT ACCOUNT LOAN</B>, the <B>SPF</B>, shall affect the necessary and sufficient
percentage of its income and rights for the tax on personal remuneration, pursuant to transitory article eighteenth of the 2016
Income Law for the State, through the <B>MASTER GUARANTEE TRUST</B>. Likewise, in the event that such guarantee is no longer sufficient,
the <B>SPF </B>shall reconstitute such affectations, in such a manner that the amount of the guarantee shall remain available throughout
the term of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>32.</B></TD><TD STYLE="text-align: justify"><B>CENTRALIZED AGENCIES:</B> The centralized agencies of the Public Administration of the State
of Baja California.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>33.</B></TD><TD STYLE="text-align: justify"><B>RIGHT OF WAY:</B> Strip of land in which the <B>DEVELOPER</B> may build the required parts of
the facilities of the <B>SYSTEM</B> for which use, passage or occupation, the express authorization of the corresponding authorities
and owners is required.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>34.</B></TD><TD STYLE="text-align: justify"><B>DEVELOPER:</B> Mercantile corporation with specific purpose named <B>AGUAS DE ROSARITO, SOCIEDAD
AN&Oacute;NIMA PROMOTORA DE INVERSI&Oacute;N DE CAPITAL VARIABLE</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>35.</B></TD><TD STYLE="text-align: justify"><B>BUSINESS DAY:</B> Any day, except Saturdays and Sundays and those considered as mandatory holidays
by the Federal Labor Law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>36.</B></TD><TD STYLE="text-align: justify"><B>CALENDAR DAY:</B> The days included in the calendar, without exception of any non-working days
for labor purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>37.</B></TD><TD STYLE="text-align: justify"><B>DESCENTRALIZED ENTITIES:</B> The descentralized entities of the Public Administration of the
State of Baja California.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>38.</B></TD><TD STYLE="text-align: justify"><B>DELIVERY:</B> Obligation of the <B>DEVELOPER</B> of physically delivering to <B>CEA</B> the
<B>SYSTEM</B>, all of its components and the operation of its functioning, at the expiration of the term of the <B>APP</B>, in
optimal functioning conditions, gratuitously and with no lien whatsoever, including without limitation the rights, licenses, permits,
patents, trademarks, authorizations and everything that by fact or by law corresponds to it, pursuant to this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>39.</B></TD><TD STYLE="text-align: justify"><B>PRODUCTION STANDARDS:</B> Means the maximum and minimum limits of the production-delivery of
the volumes of <B>POTABLE WATER</B>, expressed in percentages and relating to the <B>PRODUCTION CAPACITY</B> of the <B>SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>40.</B></TD><TD STYLE="text-align: justify"><B>ESTIMATE:</B> The document describing the amount of fully concluded and executed <B>WORKS</B>,
within the corresponding month pursuant to the <B>CALENDARED SCHEDULE</B>, the advance reports and the <B>INVESTMENT PERIOD</B>,
which the <B>DEVELOPER</B> shall submit to the <B>ADMINISTRATION TRUST</B>, authorized by the <B>SUPERVISION</B> and <B>CEA, </B>for
the payment process.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>41.</B></TD><TD STYLE="text-align: justify"><B>MILESTONES:</B> Activities that define the execution of a structure or component of each of
the <B>PROJECT WORKS</B> and which the <B>DEVELOPER</B> shall submit in a <B>CALENDARED SCHEDULE.</B> The cost of each milestone
shall be established by the <B>DEVELOPER</B> through a catalogue which sum shall represent the total of the construction of each
of the works at a <B>FIXED PRICE</B>, which during the <B>INVESTMENT PERIOD</B>, shall be used solely for the control of the progress
of the works, to ensure that the <B>DEVELOPER </B>may obtain the resources from the <B>FINANCIAL AGREEMENTS</B>, pursuant to the
<B>ESTIMATES</B> approved by the <B>SUPERVISION</B>. The <B>MILESTONES</B> shall have the units that perfectly describe the scope
of each work, as invariably, each <B>MILESTONE</B> shall have an amount in the corresponding catalogue.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>42.</B></TD><TD STYLE="text-align: justify"><B>AWARD:</B> Resolution of <B>CEA</B> thorugh which the result of the <B>PUBLIC BIDDING</B> was
determined and the <B>APP</B> was awarded to the consortium comprised by N.S.C. AGUA, S.A. DE C.V., NUWATER, S.A.P.I. DE C.V. and
DEGR&Eacute;MONT, S.A. DE C.V.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>43.</B></TD><TD STYLE="text-align: justify"><B>DATE OF COMMENCEMENT OF CONSTRUCTION: </B>Date that marks the commencement of the works provided
by this <B>APP</B> and which shall be determined by the date of issuance, execution and approval of the <B>MINUTES OF COMMENCEMENT
OF CONSTRUCTION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>44.</B></TD><TD STYLE="text-align: justify"><B>DATE OF COMMENCEMENT OF OPERATIONS</B>: Date that marks the commencement of the operations,
conservation and maintenance of the <B>SEAWATER DESALINATION PLANT</B> and which shall be determined by the date of issuance, execution
and approval of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>45.</B></TD><TD STYLE="text-align: justify"><B>ADMINISTRATION TRUST: </B>Irrevocable trust agreement for the investment, administration and
source of payment that the <B>PARTIES</B> shall contract, as trustors, pursuant to the general guidelines for the <B>ADMINISTRATION
TRUST</B> established in <B>APPENDIX 3 </B>of the <B>BASES OF THE PUBLIC BIDDING</B>, in the terms required by the financing, and
pursuant to this <B>APP</B>, which purpose shall be to receive and administer all the economic resources related with the <B>PROJECT</B>,
from the date of its creation until its liquidation and extinction, with the purpose of fulfilling the purposes established in
the <B>APP</B>, pursuant to the terms and conditions therein stablished.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>46.</B></TD><TD STYLE="text-align: justify"><B>MASTER GUARANTEE TRUST:</B> Irrevocable guarantee trust agreement that shall be contracted by
the <B>SPF</B> as trustor, to affect in guarantee, to the satisfaction of the creditor institution of the <B>CURRENT ACCOUNT LOAN</B>
and for the benefit of both stages of the <B>PROJECT</B> and of other projects of the Government of the State of Baja California,
the necessary resources for the tax on personal remuneration, pursuant to transitory article eighteenth of the 2016 Income Law
for the State, in the understanding that, from all the resources affected to the <B>MASTER GUARANTEE TRUST</B>, the corresponding
percentage shall be allocated as exclusive guarantee of the <B>PROJECT</B>. Further, in the event that such guarantee is no longer
sufficient, the <B>SPF </B>shall reconstitute such affectations, in such a manner that the amount of the guarantee shall remain
available throughout the term of this <B>APP</B>. The <B>MASTER GUARANTEE TRUST</B> shall identify, in a precise manner, the resources
corresponding to the guarantee established for the benefit of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>47.</B></TD><TD STYLE="text-align: justify"><B>CONSTRUCTION GUARANTEE:</B> Means the bond issued in terms of the <B>APP</B>, equal to 10% (ten
percent) of the <B>COST OF THE SYSTEM,</B> which the <B>DEVELOPER</B> shall deliver to <B>CEA</B> within the term established in
Clause Twenty Eighth, to guarantee compliance of its obligations arising from the <B>APP</B>, including the payment of the conventional
penalties caused by its breach of the <B>APP</B> with respect to the construction, equipment and <B>TESTS</B> of the <B>SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>48.</B></TD><TD STYLE="text-align: justify"><B>OPERATION GUARANTEE:</B> Means the bond issued in terms of the <B>APP</B>, equal to 10% (ten
percent) of the yearly payment of the <B>CONSIDERATION</B> in force at that time for the portion corresponding to the T2 + (T3
X Q) Tariffs, using the last invoice paid to the <B>DEVELOPER</B>, or in the event of the first year of the <B>OPERATION PERIOD,
</B>the amount corresponding to the production volume communicated to the <B>DEVELOPER </B>pursuant to Clause Sixteenth of this
<B>APP</B> shall be used as the base, which the <B>DEVELOPER,</B> shall deliver to <B>CEA</B> on the <B>DATE OF COMMENCEMENT OF
OPERATIONS </B>and which shall be renewed yearly within the first ten calendar days following the commencement of the corresponding
tax year and shall remain in force until the <B>DELIVERY</B> and operation of the <B>SYSTEM</B> to <B>CEA</B>, and the delivery
of the <B>APP TERMINATION GUARANTEE </B>by the <B>DEVELOPER</B> to <B>CEA</B>, pursuant to this <B>APP</B>, moment in which such
guarantee shall be returned to the <B>DEVELOPER</B>. This guarantee substitutes the <B>CONSTRUCTION GUARANTEE</B>, and shall be
applied, if applicable, to guarantee the compliance of its obligations arising from the <B>APP</B>, and the payment of the conventional
penalties relating to the operation and maintenance of the <B>SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>49.</B></TD><TD STYLE="text-align: justify"><B>APP TERMINATION GUARANTEE:</B> Means the bond equal to the yearly payment of T2 plus (T3 X Q)
for the last year of operation<B>,</B> which the <B>DEVELOPER</B> shall deliver to <B>CEA</B> to replace the <B>OPERATION GUARANTEE</B>,
with a term of 6 (six) months counted as from the date of execution of the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE
DELIVERY</B> in terms of this <B>APP, </B>to guarantee the hidden defects in which it incurred during the operation period of the
<B>SYSTEM</B> or quality defects of the materials used, issued in terms of the <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>50.</B></TD><TD STYLE="text-align: justify"><B>APP EFFECTIVENESS COMMENCEMENT:</B> The date on which the effectiveness of the <B>APP</B> commences,
once the conditions of <B>Clause FORTY FOURTH</B> have been met.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>51.</B></TD><TD STYLE="text-align: justify"><B>INPC:</B> National Consumers Prices Index, published monthly by the National Institute of Statistics
and Geography in the Official Gazette of the Federation and, in absence thereof, the index established in its place to measure
the increase of prices.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>52.</B></TD><TD STYLE="text-align: justify"><B>IVA:</B> Value Added Tax pursuant to the Value Added Tax Law published in the Official Gazette
of the Federation on December 29, 1978, as amended.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>53.</B></TD><TD STYLE="text-align: justify"><B>LAPPEBC:</B> Public Private Partnerships Law for the State of Baja California.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>54.</B></TD><TD STYLE="text-align: justify"><B>APPLICABLE LAWS:</B> All the Mexican laws, treaties, regulations, decrees, Mexican Official
Standards, rules, decisions, orders, authorizations, resolutions, jurisprudence, providences, interpretations or directives issued
by any <B>GOVERNMENTAL AUTHORITY</B> with jurisdiction and/or competence relating to the subject-matter of the <B>PUBLIC BIDDING</B>
and the <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>55.</B></TD><TD STYLE="text-align: justify"><B>WASTE WATER CONDUCTION LINE:</B> The conduction line for the transport of <B>WASTE WATER</B>
or any liquid residue from the <B>SEAWATER DESALINATION PLANT</B> until the final point of disposition.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>56.</B></TD><TD STYLE="text-align: justify"><B>LPS:</B> Water volume unit established in liters per second.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>57.</B></TD><TD STYLE="text-align: justify"><B>ENVIRONMENTAL IMPACT MANIFEST:</B> Document that shall be drafted and submitted by the <B>DEVELOPER</B>
to the competent <B>GOVERNMENTAL AUHTORITY</B>, in terms of the applicable provisions of the General Law of Ecologic Equilibrium
and Environmental Protection and its Regulations respect of the Evaluation of the Environmental Impact, through which it is informed,
based on studies, the potential and significant environmental impact, , that the <B>PROJECT WORKS </B>and operation of the <B>SYSTEM</B>
would cause, as well as the way to avoid or mitigate it, in the event that it is negative.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>58.</B></TD><TD STYLE="text-align: justify"><B>QUALITY ASSURANCE HANDBOOK:</B> The handbook to ensure the quality of the design, project and
construction of the <B>SYSTEM</B>, which shall be based in the preliminary quality assurance handbook delivered as part of the
<B>PROPOSAL</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>59.</B></TD><TD STYLE="text-align: justify"><B>OPERATION AND MAINTENANCE HANDBOOK:</B> Is the document that the <B>DEVELOPER</B> shall deliver
to <B>CEA</B>, for its approval, with at least 1 (one) month of anticipation to the <B>DATE OF COMMENCEMENT OF OPERATIONS</B>.
This document shall contain a full description of the works and of all the equipment that comprises the <B>SYSTEM</B>, as well
as all the procedures relating to the development of the water treatment process and the aqueduct, as well as the data base to
sustain the maintenance program of all the mechanical and electromechanical equipment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>60.</B></TD><TD STYLE="text-align: justify"><B>MUNICIPALITIES:</B> The Municipalities of the State of Baja California and their public entities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>61.</B></TD><TD STYLE="text-align: justify"><B>NON-OBJECTION:</B> Means the document or the implied acceptance issued by <B>CEA</B> and/or
the <B>SUPERVISION</B>, by which the partial or complete verification of the <B>EXECUTIVE PROJECT</B> shall be evidenced.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>62.</B></TD><TD STYLE="text-align: justify"><B>CIVIL WORKS:</B> The structures for the <B>COLLECTION</B> or intake, <B>CONDUCTION LINE</B>,
pumping sumps, pumping stations, auxiliary and complementary crossing works, and any other work required by the <B>EXECUTIVE PROJECT</B>
in connection with the construction and <B>SET-UP OF OPERATIONS </B>of the <B>SYSTEM</B>, which shall be prepared in accordance
with the technical specifications, including but not limited to: clearance, excavation clearance, excavations, leveling, embankments,
cuts, breakwaters, wells, filtering galleries, asphalted and non-asphalted areas, sewer drains and pipelines, contention walls,
foundations, dockages, tanks, tunnels, bridges, siphons, crossing structures, green and ecologic areas, direct maritime intake,
drilling of wells or sumps, parking and buildings areas, among others.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>63.</B></TD><TD STYLE="text-align: justify"><B>COLLECTION WORKS:</B> Also known as intake works, is the structure or group of structures whose
design, construction and operation complies with the purpose of capturing, extracting and collecting <B>INTAKE WATER</B>, in this
case from the sea, for its delivery to the <B>SEAWATER DESALINATION PLANT</B>. It shall be regularly comprised by <B>CIVIL WORKS</B>
and electromechanical equipment, being possible for it to be the waste water intake from the Juarez thermoelectric plant.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>64.</B></TD><TD STYLE="text-align: justify"><B>PROJECT WORKS:</B> All the permits, authorizations and licenses; the planning, engineering,
the supply of material and equipment, the <B>CIVIL WORKS</B>, the <B>COLLECTION WORKS</B>, the <B>ELECTROMECHANICAL WORKS</B>,
the auxiliary facilities, the <B>TESTS</B>, the technical support and the other works and services of any nature, that shall be
supplied or carried out by the <B>DEVELOPER</B> and which are within the scope specified in the <B>APP</B> for the termination
of the <B>SYSTEM</B>, distinguishing from the works of each of the stages of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>65.</B></TD><TD STYLE="text-align: justify"><B>ELECTROMECHANICAL WORKS:</B> The incorporation of all the equipment and control systems, ducts,
electric systems, instrumentation and accessories related with the <B>EXECUTIVE PROJECT</B>, in accordance to the technical specifications.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>66.</B></TD><TD STYLE="text-align: justify"><B>PARTIES</B>: <B>CEA</B> and the <B>DEVELOPER.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>67.</B></TD><TD STYLE="text-align: justify"><B>CONSTRUCTION PERIOD:</B> Means the period of 34 (thirty-four) months (subject to any applicable
extensions pursuant to this <B>APP</B>) for the preparation of the <B>EXECUTIVE PROJECT</B>, construction and equipment of the
<B>SYSTEM</B>, counted from the date of the <B>MINUTES OF COMMENCEMENT OF CONSTRUCTION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>68.</B></TD><TD STYLE="text-align: justify"><B>INVESTMENT PERIOD:</B> Means the period comprised by 36 (thirty-six) months (subject to any
applicable extensions pursuant to this <B>APP</B>) counted from the date of the <B>MINUTES OF COMMENCEMENT OF THE APP</B>, during
which the <B>DEVELOPER</B> shall carry out the preparation of the <B>EXECUTIVE PROJECT, </B>the <B>CIVIL WORKS </B>and the <B>TESTS</B>
for the <B>SET-UP OF OPERATIONS</B> of the <B>SYSTEM</B> and <B>PROJECT WORKS.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>69.</B></TD><TD STYLE="text-align: justify"><B>OPERATION PERIOD</B>: Means the period comprised by 37 (thirty-seven) years (subject to any
applicable extensions pursuant to this <B>APP</B>) during which the <B>DEVELOPER</B> shall be in charge of the operation, conservations,
update and maintenance of the <B>SYSTEM</B> to extract, collect, desalinate, potabilize, conduct and supply the produced <B>POTABLE
WATER</B> to the <B>DELIVERY POINT</B> to <B>CEA</B> and to dispose of the <B>WASTE WATER</B>, pursuant to the <B>BASES OF THE
PUBLIC BIDDING</B>, counted from the issuance of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>70.</B></TD><TD STYLE="text-align: justify"><B>TESTING PERIOD:</B> Means the period of 2 (two) months (subject to any applicable extensions
pursuant to this <B>APP</B>) to carry out the <B>TESTS</B>, counted from the date of the <B>MINUTES OF TERMINATION OF THE CONSTRUCTION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>71.</B></TD><TD STYLE="text-align: justify"><B>EXPERT:</B> The specialized person in the subject-matter, appointed pursuant to this <B>APP</B>,
to solve any technical controversy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>72.</B></TD><TD STYLE="text-align: justify"><B>PESOS:</B> Legal currency of the United States of Mexico.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>73.</B></TD><TD STYLE="text-align: justify"><B>CONTIGENCIES OR SAFEKEEPING ACTIONS PLAN:</B> Means the group of structural actions and normativity
proposed and budgeted by the <B>DEVELOPER</B> to guarantee compliance of the production-delivery of <B>POTABLE WATER</B> before
negative unforeseeable events that force a temporary suspension due to failure or damages to any part of the <B>SYSTEM</B> for
the time of its repair and the reestablishment of the ordinary operating conditions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>74.</B></TD><TD STYLE="text-align: justify"><B>SEAWATER DESALINATION PLANT:</B> Industrial premises that shall be built by the <B>DEVELOPER</B>,
either by itself or through third parties, for the management, pre-treatment, desalinization and potabilization (post-treatment)
of the <B>INTAKE WATER</B>, with a normal production capacity of <B>POTABLE WATER</B> in 2 stages, each of 2.2 m3/second during
all the <B>OPERATION PERIOD </B>for each stage.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>75.</B></TD><TD STYLE="text-align: justify"><B>FIXED PRICE:</B> Means the price that the <B>DEVELOPER</B> assigned to each of the <B>MILESTONES</B>
defining the execution of a structure, equipment or component of the works corresponding to the <B>SYSTEM</B>, pursuant to Format
1 of the <B>ECONOMIC PROPOSAL</B> and which shall serve to determine the payment of the <B>ESTIMATE</B> of the works.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>76.</B></TD><TD STYLE="text-align: justify"><B>CALENDARED SCHEDULE:</B> Document that shall be delivered by the <B>DEVELOPER</B> and which
shall contain the dates of each of the activities that it shall develop to comply with each <B>MILESTONE</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>77.</B></TD><TD STYLE="text-align: justify"><B>PROPOSAL:</B> The group of documents requested in the <B>BASES OF THE PUBLIC BIDDING </B>jointly
integrated by the <B>TECHNICAL PROPOSAL </B>and the <B>ECONOMIC PROPOSAL</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>78.</B></TD><TD STYLE="text-align: justify"><B>ECONOMIC PROPOSAL:</B> The portion of the <B>PROPOSAL</B> containing the Economic and Financial
information of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>79.</B></TD><TD STYLE="text-align: justify"><B>TECHNICAL PROPOSAL:</B> The portion of the <B>PROPOSAL</B> containing the Technical information
of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>80.</B></TD><TD STYLE="text-align: justify"><B>PROJECT: </B>Construction, financing and operation of a desalination plant in the Municipality
of Playas de Rosarito, with a capacity of up to 4.4 m3/second in two stages: the first with a capacity of 2.2 m3/second, and a
aqueduct to the delivery point in tank 3, Municipality of Tijuana and the expansion of the mentioned tank to 20,000 m3; and the
second with a capacity of 2.2 m3/second, and a aqueduct from tank 3 to the potabilization plant of El Florido, Municipality of
Tijuana, including the design, preparation of the executive project, construction, electromechanic equipment and functionality
tests of the desalination plant and the aqueducts, as well as the operation, conservation and maintenance, including the conduction
and delivery of up to 4,400 liters per second, the treatment and disposal of the waste water, during an operation period of 37
years.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>81.</B></TD><TD STYLE="text-align: justify"><B>EXECUTIVE PROJECT:</B> Group of detailed activities that shall be carried out by the <B>DEVELOPER</B>,
within which the following shall be carried out, in an enunciative but not limitative manner, basic, specific, complementary and
detailed studies for the <B>SYSTEM</B>, as well as the technical documents, specifications, draft projects, draft budgets, programs,
handbooks and other necessary information for the design, procedures, project, budget, acquisition, supply engineering, equipment,
construction, installations, premises, <B>TESTS</B>, <B>SET-UP OF OPERATIONS</B>, operation, conservation, maintenance, technological
updates and <B>DELIVERY </B>of the <B>SYSTEM</B> described in its <B>PROPOSAL,</B> to the satisfaction of <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>82.</B></TD><TD STYLE="text-align: justify"><B>TESTS</B>: Preset procedures for the verification of the functionality and quality of the <B>SYSTEM</B>
that shall be carried out in each unit of collection, production, conduction and management of <B>POTABLE WATER</B> and <B>WASTE
WATER</B>, pumping, operating within the design conditions, both manually and automatically, in accordance with the <B>TESTS</B>
protocol drafted by the <B>DEVELOPER</B>, following the execution of the <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>83.</B></TD><TD STYLE="text-align: justify"><B>SET-UP OF OPERATIONS: </B>The moment in which the <B>TESTING PERIOD </B>is concluded and therefore
the <B>SYSTEM</B> is considered to be in satisfactory operation conditions, commencing the <B>OPERATION PERIOD</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>84.</B></TD><TD STYLE="text-align: justify"><B>DELIVERY POINT</B>: The delivery point shall be at the Tank 3, for the first stage of the <B>PROJECT
</B>and at El Florido for the second stage of the <B>PROJECT</B>, as established in the <B>BASES OF THE PUBLIC BIDDING</B>. If
applicable, <B>CEA</B> may request in writing, a new <B>DELIVERY POINT</B>, or additional <B>DELIVERY POINTS</B>, pursuant to Clause
Third, section 6 of this <B>APP</B>, in the understanding that the <B>DEVELOPER</B> shall be responsible for the volume and quality
of the <B>POTABLE WATER</B> until the <B>MEASURING POINT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>85.</B></TD><TD STYLE="text-align: justify"><B>MEASURING POINT</B>; The measuring point of the <B>POTABLE WATER</B>, for purposes of billing
the <B>CONSIDERATION</B>, as well as the quality of the <B>POTABLE WATER</B>, shall be installed at the exit of the <B>SEAWATER
DESALINATION PLANT</B>, regardless of the installation of additional measuring point in the <B>SYSTEM</B> for other purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>86.</B></TD><TD STYLE="text-align: justify"><B>WORKS RESIDENT</B>: Public officer appointed in writing by <B>CEA</B> and <B>SIDUE</B>, having
the sufficient knowledge, skills, experience and capacity to carry out the supervision on behalf of <B>SIDUE </B>and <B>CEA</B>
and to agree with the <B>DEVELOPER</B> the changes and amendments to the <B>SYSTEM</B>. He shall have the authority determined
in this <B>APP</B> and in the provisions of the <B>RLAPPEBC</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>87.</B></TD><TD STYLE="text-align: justify"><B>RLAPPEBC: </B>Regulations of the Public Private Partnerships Law for the State of Baja California.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>88.</B></TD><TD STYLE="text-align: justify"><B>SCT:</B> Ministry of Communication and Transport.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>89.</B></TD><TD STYLE="text-align: justify"><B>SEMARNAT:</B> Secretary of the Environment and Natural Resources</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>90.</B></TD><TD STYLE="text-align: justify"><B>EASEMENT:</B> Real rights over real estate of third parties, imposed by legal provision or agreed
for the benefit of the real estate that the <B>DEVELOPER</B> uses for the construction or operation of the <B>PROJECT WORKS</B>
comprising the <B>SYSTEM</B>, in terms of the federal civil legislation or the civil legislation of the State of Baja California.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>91.</B></TD><TD STYLE="text-align: justify"><B>SHCP:</B> Ministry of Finance and Public Credit.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>92.</B></TD><TD STYLE="text-align: justify"><B>SIDUE: </B>Ministry of Infrastructure and Urban Development of the State of Baja California.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>93.</B></TD><TD STYLE="text-align: justify"><B>SYSTEM:</B> The group of necessary premises for the delivery to <B>CEA</B> of the yearly volume
of <B>POTABLE WATER</B>, including, without limitation, the <B>COLLECTION WORKS</B> and collection of <B>INTAKE WATER</B>, desalination
treatment thereof through the proposed method, potabilization, regulation, pumping and conduction to the <B>DELIVERY POINT</B>,
supply of energy, as well as those relating to the management and disposal of <B>WASTE WATER</B>, supply and regulation of electric
energy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>94.</B></TD><TD STYLE="text-align: justify"><B>SITE:</B> The real estate in which the <B>DEVELOPER</B> shall build the <B>COLLECTION WORKS</B>
of <B>INTAKE WATER</B>, treatment and desalination thereof, potabilization, regulation, pumping and conduction lines to the <B>DELIVERY
POINT</B>, which must be authorized by <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>95.</B></TD><TD STYLE="text-align: justify"><B>TDS: </B>Total dissolved solids.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>96.</B></TD><TD STYLE="text-align: justify"><B>SUPERINTENDENT:</B> The representative of the <B>DEVELOPER</B> to whom the latter has granted
the most ample power of attorney possible for acts of administration; who shall be in charge of and the responsible for the development
of all the <B>WORKS</B>, stages and aspects of the <B>EXECUTIVE PROJECT</B>, jointly, from the first coordination meeting for the
commencement of the <B>WORKS</B> with the <B>WORKS RESIDENT</B> and the <B>SUPERVISION</B>, until the delivery of its premises
to <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>97.</B></TD><TD STYLE="text-align: justify"><B>SUPERVISION:</B> The company that shall be hired by the <B>ADMINISTRATION TRUST</B> prior instruction
of the <B>DEVELOPER</B>, to be chosen by the latter among three duly qualified nominees proposed by <B>CEA</B> to its sole discretion,
to verify that the works for preparation of the <B>EXECUTIVE PROJECTS</B>, construction, equipment and <B>TESTS</B> of the <B>SYSTEM</B>
are carried out pursuant to the specifications and quality of the established laws and the <B>APP</B>, which shall have the authority
determined in the <B>APP</B> and in article 107 of the <B>RLAPPEBC.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>98.</B></TD><TD STYLE="text-align: justify"><B>TERMS OF REFERENCE:</B> The document that comprises an integral part of the <B>BASES OF THE
PUBLIC BIDDING </B>and which contains the characteristics, scope, technical specifications and other aspects relating to the <B>SYSTEM</B>,
attached as <B>APPENDIX 1</B> of the <B>BASES OF THE PUBLIC BIDDING</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>99.</B></TD><TD STYLE="text-align: justify"><B>WORKS: </B>All the actions relating to the <B>EXECUTIVE PROJECT</B>, construction of the works,
equipment, facilities, elements, procedures, compliance of norms, analyses, <B>TESTS</B>, measurements, necessary supply and services
for the execution of the <B>EXECUTIVE PROJECT</B> and particularly of the <B>SYSTEM</B> mentioned in the <B>BASES OF THE PUBLIC
BIDDING</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CLAUSES</B><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FIRST.- SUBJECT-MATTER OF THE APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> entrusts the <B>DEVELOPER</B>
and the later obliges itself to render in favor of the former the services, for the:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;CONSTRUCTION, FINANCING AND OPERATION
OF A DEASLINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CONSISTING OF:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>A DESALINATION PLANT WITH A CAPACITY
OF UP TO 4.4 M3/SECOND IN TWO STAGES: THE FIRST WITH A CAPACITY OF 2.2 M3/SECOND, AND AN AQUEDUCT TO THE DELIVERY POINT IN TANK
3, MUNICIPALITY OF TIJUANA AND THE EXPANSION OF THE MENTIONED TANK TO 20,000 M3; AND THE SECOND WITH A CAPACITY OF 2.2 M3/SECOND,
AND AN AQUEDUCT FROM TANK 3 TO THE POTABILIZATION PLANT OF EL FLORIDO, MUNICIPALITY OF TIJUANA, INCLUDING THE DESIGN, PREPARATION
OF THE EXECUTIVE PROJECT, CONSTRUCTION, ELECTROMECHANIC EQUIPMENT AND FUNCTIONALITY TESTS OF THE DESALINATION PLANT AND THE AQUEDUCTS,
AS WELL AS THE OPERATION, CONSERVATION AND MAINTENANCE, INCLUDING CONDUCTION AND DELIVERY OF UP TO 4,400 LITERS PER SECOND, TREATMENT
AND DISPOSAL OF THE WASTE WATER, DURING AN OPERATION PERIOD OF 37 YEARS. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of which the <B>DEVELOPER</B>
shall carry out the <B>PROJECT</B>, pursuant to the provisions of this <B>APP </B>and its Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For such purposes, the yearly guaranteed
volume of both stages of the <B>PROJECT</B> shall be of 131.2 million cubic meters, which are the equivalent to 4,162 LPS of <B>POTABLE
WATER</B>, from which 65.6 million cubic meters, equivalent to 2,081 <B>LPS</B>, <B>shall be </B>for the first stage, and 65.6
million cubic meters, equivalent to 2,081 <B>LPS</B>, shall be for the second stage, at the <B>MEASURING POINT</B>, that is, at
the exit of the <B>SEAWATER DESALINATION PLANT</B>, notwithstanding its conduction to the <B>DELIVERY POINT</B>, as well as the
disposal of the <B>WASTE WATER. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The construction of the second stage of
the <B>PROJECT</B> shall start so that the commencement of operations of such second stage is carried out on July 2024. To that
effect, in due course, the <B>PARTIES</B> shall agree in writing the specific terms and conditions for the second stage of the
<B>PROJECT</B>, as well as those that are different to the provisions of this <B>APP</B>, applicable to the second stage, including
without limitation, the start of the corresponding construction and operations. The foregoing pursuant to the provisions of the
<B>PROPOSAL</B> and the <B>BASES OF THE PUBLIC BIDDING</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> acknowledges that in the event
that the economic conditions at the time of start of the construction of the second stage of the <B>PROJECT</B> are different to
those considered by the <B>DEVELOPER</B> in its <B>PROPOSAL</B>, the investment values shall be reviewed, which could imply an
adjustment to the <B>CONSIDERATION</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the rendering of the mentioned services,
it shall be necessary to carry out the basic and complementary studies and the complete construction of the <B>SYSTEM</B> complying
with the quality and quantity conditions determined for the <B>POTABLE WATER</B> in <B>CLAUSE SIXTEENTHN </B>of this <B>APP</B>,
in addition to its operation, equipment replacement and maintenance for a period of XX 37 (thirty-seven) years, counted as from
the <B>DATE OF COMMENCEMENT OF OPERATIONS</B>, which is coincident with the date of execution of the <B>MINUTES OF COMMENCEMENT
OF OPERATION</B>, for which the <B>DEVELOPER</B> must finance the <B>TOTAL COST OF THE SYSTEM.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon expiration of the mentioned term,
the <B>DEVELOPER</B> shall deliver the ownership of the <B>SYSTEM </B>and its operation, gratuitously and without liens, in favor
of <B>CEA</B>, for which purpose, all the assets comprising the <B>SYSTEM</B>, including without limitation the <B>SEAWATER DESALINATION
PLANT</B>, shall be in functioning conditions under the ordinary operation conditions for which they were constructed, pursuant
to this <B>APP</B> and its exhibits, except for the ordinary wear and tear that the <B>SYSTEM</B> suffers to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In absence of an express provision in this
<B>APP,</B> in the <B>LAPPEBC</B> and its Regulations, the following will be applicable in a suppletory manner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">I.</TD><TD STYLE="text-align: justify">The Code of Commerce;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">II.</TD><TD STYLE="text-align: justify">The Civil Code for the State of Baja California;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">III.</TD><TD STYLE="text-align: justify">The Law of Procedures for Acts of the Public Administration of the State of Baja California; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">IV.</TD><TD STYLE="text-align: justify">The Civil Procedures Code for the State of Baja California.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SECOND.- TERM OF THE APP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The effectiveness of this <B>APP</B> shall
commence on the date of execution of this <B>APP</B> and shall conclude 37 (thirty-seven) years after the date of execution of
the <B>MINUTES OF COMMENCEMENT OF OPERATIONS </B>of the first stage of the <B>PROJECT</B>, date on which the <B>PERIOD OF OPERATION</B>
concludes, which shall coincide with the date of execution of the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The term of the <B>APP</B> includes the
<B>INVESTMENT PERIOD</B> of the first stage of the <B>PROJECT, </B>which shall commence once the <B>MINUTES OF COMMENCEMENT OF
THE APP</B> have been issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The term of the <B>APP</B> may only be
interrupted or early terminated under the conditions established in this <B>APP</B> and in the <B>LAPPEBC</B> and the <B>RLAPPEBC.
</B>In which case, the applicable tariffs of the <B>CONSIDERATION</B> shall continue to be payable by <B>CEA</B> pursuant to the
provisions of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIRD. DESCRIPTION OF THE WORKS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To comply with the subject-matter of this
<B>APP</B>, the <B>DEVELOPER</B> obliges itself to carry out the <B>WORKS</B> which scope is established in Chapter 1.5 of the
<B>APPENDIX 1</B> of the <B>BASES OF THE PUBLIC BIDDING </B>contained in the <B>EXHIBIT 5</B> of this <B>APP</B>. The <B>WORKS</B>
shall include, but will not be limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The planning, preparation of basic and complementary studies, designs, budgeting, <B>EXECUTIVE
PROJECT</B>, construction, equipment and maintenance of the <B>PROJECT WORKS</B> for the correct operation of the <B>SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The preparation and delivery of the <B>QUALITY ASSURANCE HANDBOOK</B> prior to the <B>MINUTES OF
COMMENCEMENT OF CONSTRUCTION</B>, which is attached to this <B>APP </B>as <B>EXHIBIT 6.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The preparation and delivery of the Protocol of <B>TESTS </B>and <B>SET-UP OF OPERATIONS</B> of
the <B>SYSTEM</B>, prior to the <B>MINUTES OF COMMENCEMENT OF OPERATION, </B>which shall be attached to this <B>APP </B>as <B>EXHIBIT
7.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">Carry out the <B>TESTS</B> and <B>SET-UP OF OPERATIONS</B> of the <B>SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The assurance, operation, equipment replacement, conservation and maintenance of the <B>SYSTEM</B>
during 37 (thirty-seven) years, counted as from the issuance and execution of the <B>MINUTES OF COMMENCEMENT OF OPERATION</B> and
until the termination of the <B>OPERATION PERIOD</B> and execution of the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">The delivery of the guaranteed yearly volume of <B>POTABLE WATER</B> established in <B>Clause FIRST,
</B>during the <B>OPERATION PERIOD</B>, supplied at the <B>DELIVERY POINT</B>. In the event that <B>CEA</B> requires so in writing,
the <B>DEVELOPER</B> shall be obliged to deliver part of the volume of <B>POTABLE WATER</B> at places different to the <B>DELIVERY
POINT</B>; in this latter event, the additional costs of construction of the facilities and the operation and maintenance required
for such delivery, including the permits, licenses and everything related therewith, shall be at the expense of <B>CEA,</B> and
the <B>CONSIDERATION</B> for the monthly supply of <B>POTABLE WATER</B> shall be such established in terms of this <B>APP</B> with
the corresponding necessary adjustments. The foregoing in the understanding that in any event, the compliance by the <B>DEVELOPER</B>
regarding the volume or quality of water required in this <B>APP</B> shall be measured at the <B>MEASURING POINT</B>, that is,
at exit of the <B>SEAWATER DESALINATION PLANT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">The <B>DELIVERY</B> of the <B>SYSTEM</B> and its operation to <B>CEA</B>, gratuitously and without
liens and in ordinary functioning conditions, upon expiration of the term of this <B>APP</B>, pursuant to Clause <B>TWENTY FIFTH
</B>and <B>EXHIBIT 17 </B>of this <B>APP.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be obliged to
deliver to <B>CEA</B> the necessary reports to comply with the provisions of the <B>QUALITY ASSURANCE HANDBOOK, </B>during the
time in which it operates the <B>SEAWATER DESALINATION PLANT</B>. The preparation and delivery of these reports shall be monthly
during the first 5 <B>BUSINESS DAYS</B> of each month and extraordinarily prior written request by <B>CEA</B> with an anticipation
of at least 5 <B>BUSINESS DAYS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FOURTH. TERMS FOR EXECUTION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the <B>EXECUTIVE PROJECT</B>,
construction, equipment and <B>TESTS </B>of the first stage of the <B>PROJECT </B>shall be carried out by the <B>DEVELOPER</B>
within a term that shall not exceed 36 (thirty-six) months counted as from the date of the <B>MINUTES OF COMMENCEMENT OF THE APP</B>,
considering in an enunciative but not limited manner, 6 (six) months for the preparation of the <B>EXECUTIVE PROJECT</B>, 28 (twenty-eight)
months for the construction and equipment of the first stage of the <B>PROJECT</B> and 2 (two) months for the <B>TESTING PERIOD</B>.
The foregoing, pursuant to the proposed <B>CALENDARED SCHEDULE,</B> that is attached hereto as <B>EXHIBIT 8</B>. Notwithstanding
the foregoing, the <B>PARTIES</B> agree that as long as the <B>INVESTMENT PERIOD</B> of the first stage of the <B>PROJECT</B> does
not exceed 36 (thirty-six) months, the <B>DEVELOPER</B> may carry out adjustments in the partial terms mentioned above, consequently
adjusting the corresponding definitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Irrespective of the foregoing or of any
other disposition contrary to the contained in the <B>BASES OF THE PUBLIC BIDDING, </B>in the event of delays in the <B>CALENDARED
SCHEDULE</B> that are not attributable to the <B>DEVELOPER</B> or that result from an <B>ACT OF GOD,</B> a <B>FORCE MAJEURE EVENT</B>
or a <B>CHANGE IN LAW</B>, the terms referred in this clause shall be extended for a period equivalent to the delay attributed
to such circumstances. Likewise, <B>CEA</B> shall compensate the <B>DEVELOPER</B> for the costs and expenses that such delay would
represent, by means of an adjustment to the T1 (<B>FIXED INVESTMENT TARIFF</B>) to reflect such costs and expenses as part of the
investment, provided they are duly justified and documented. On the other hand, in the event of a delay to the <B>CALENDARED SCHEDULE</B>
due to non-justified causes exclusively attributable to the <B>DEVELOPER</B>, the financial costs and incurred expenses during
the additional terms, as long as such are prolonged beyond the <B>INVESTMENT PERIOD</B> corresponding to the first stage of the
<B>PROJECT, </B>shall be fully covered by the <B>DEVELOPER</B>. The foregoing, except for the additional costs incurred by the
<B>DEVELOPER </B>due to (i) a breach by <B>CEA</B> to any of its obligations under this <B>APP</B>&cedil;(ii) an <B>ACT OF GOD</B>,
<B>FORCE MAJEURE EVENT</B> or <B>CHANGE IN LAW</B>; (iii) additional or different works or services to those set forth in this
<B>APP</B>; and (iv) delays or suspensions in the rendering of the services, as requested by or attributable to, <B>CEA</B>; in
such events, the additional costs shall be considered in the payment of the <B>CONSIDERATION</B>, which shall be increased in the
additional cost incurred or to be incurred by the <B>DEVELOPER</B> in the corresponding invoice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>EXECUTIVE PROJECT.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The <B>DEVELOPER</B> shall be in charge of preparing and delivering to <B>CEA</B> and the <B>SUPERVISION</B>
the <B>EXECUTIVE PROJECT</B> of the <B>PROJECT</B>, or its partialities, within the term established in the <B>PROPOSAL</B> submitted
in the <B>PUBLIC BIDDING</B>, which shall not exceed 6 (six) months, counted as from the date of execution of the <B>MINUTES OF
COMMENCEMENT OF THE APP. </B>Pursuant to the following section (b), the <B>DEVELOPER</B> shall be entitled to submit partially
the <B>EXECUTIVE PROJECTS</B> for each of the works, to the <B>NON-OBJECTION </B>of <B>CEA</B> and the <B>SUPERVISION, </B>in such
a manner that it can comply with the terms foreseen for the construction of the <B>PROJECT WORKS</B> within the <B>CALENDARED SCHEDULE</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The <B>PARTIES</B> acknowledge
and agree that, in benefit of the <B>PROJECT</B>, the <B>DEVELOPER</B>, at its exclusive discretion, may commence the preparation
of the <B>EXECUTIVE PROJECT</B> or, if applicable, of its partialities, before the <B>APP EFFECTIVENESS COMMENCEMENT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><B>CEA</B> and the <B>SUPERVISION</B> shall jointly have a maximum term of 30 (thirty) <B>BUSINESS
DAYS</B>, counted as from the delivery of the <B>EXECUTIVE PROJECT</B>, in the event that such is submitted in its entirety and
not in partialities, to grant the <B>NON-OBJECTION</B> or to formulate observations to the <B>EXECUTIVE PROJECT</B> of the <B>PROJECT</B>,
to verify that it conforms to the provisions of the <B>BASES OF THE PUBLIC BIDDING </B>and the <B>TECHNICAL PROPOSAL. </B>In the
event that <B>CEA </B>and the <B>SUPERVISION</B> do not make any statement during the mentioned term, as applicable, it shall be
understood that the <B>EXECUTIVE PROJECT</B> has the <B>NON-OBJECTION </B>and, therefore, the <B>DEVELOPER</B> shall be entitled
to commence the construction of the corresponding works. In the event that there were no observations whatsoever, the documents
delivered by the <B>DEVELOPER</B> shall be considered as approved. <B>CEA</B> and/or the <B>SUPERVISION</B>, shall have a single
opportunity to make observations to the <B>EXECUTIVE PROJECT</B> or, if applicable, to its partialities. Once such observations
are made, in the event that they are applicable, the <B>DEVELOPER</B> shall have a term of 10 (ten) <B>BUSINESS DAYS</B> to carry
out the corresponding adjustments to the <B>EXECUTIVE PROJECT</B> or, if applicable, to its partialities and submit them to <B>CEA</B>
and the <B>SUPERVISION</B>, solely for information purposes, and not for purposes of a new review, provided that it has complied
with the viable observations. <B>CEA</B> shall not make unjustified or unreasonable observations to the <B>EXECUTIVE PROJECT</B>.
Upon lapsing of the term of 30 (thirty) <B>BUSINESS DAYS</B> counted as from the delivery of the <B>EXECUTIVE PROJECT</B>, in the
event that such is delivered in its entirety and not in partialities, and if applicable, the additional term of 10 (ten) <B>BUSINESS
DAYS</B> for adjustments, the <B>DEVELOPER</B> may proceed to commence the construction of the <B>PROJECT WORKS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Notwithstanding the foregoing,
the <B>PARTIES</B> agree that the <B>DEVELOPER</B> may make partial deliveries to <B>CEA</B> and the <B>SUPERVISION </B>of the
<B>EXECUTIVE PROJECT </B>to allow <B>CEA </B>and the <B>SUPERVISION </B>to carry out the review in partialities instead of in its
entirety, in the understanding that if the <B>DEVELOPER</B> elects to make partial deliveries of the <B>EXECUTIVE PROJECT</B> of
the <B>PROJECT</B>, once the corresponding partiality has been submitted, <B>CEA</B> and the <B>SUPERVISION, </B>shall have, jointly,
the term mentioned in the chart below to verify that the <B>EXECUTIVE PROJECT</B> complies with the provisions of the <B>BASES
OF THE PUBLIC BIDDING </B>and the <B>TECHNICAL PROPOSAL</B> contained in the <B>PROPOSAL</B>. It the event that <B>CEA </B>or the
<B>SUPERVISION </B>do not make any statement during such terms, as applicable, it shall be understood that such <B>EXECUTIVE PROJECT</B>
has the <B>NON-OBJECTION</B> and therefore the <B>DEVELOPER</B> shall be entitled to commence the construction of the corresponding
works.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 49%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Executive Project Work</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 2%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 49%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Term of CEA and of the </B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SUPERVISION for review</B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Civil Works Project</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 business days</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Electromechanical Works Project </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 business days</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Maritime Collection Works Projects</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 business days</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Potable Water Conduction Lines Project </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">10 business days</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that the <B>EXECUTIVE
PROJECT</B> require, in a reasonable manner and considering the common practices of the industry, technical adjustments as a result
of the execution of the <B>PROJECT</B> in the field or arising from any other cause, including errors, imprecisions or incongruences
in the <B>EXECUTIVE PROJECT</B> itself, the <B>DEVELOPER</B> shall propose to <B>CEA</B> the amendments that it deems pertinent.
In the event that <B>CEA </B>determines that such are applicable, the <B>DEVELOPER</B> shall carry out the modifications at its
expense, without any liability or obligation for <B>CEA</B> of contributing any additional resources, of any kind<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">(c)</TD><TD STYLE="text-align: justify">The delivery and <B>NON-OBJECTION, </B>whether total or partial, shall be evidenced in each document
or blueprint delivered by the <B>DEVELOPER</B> to <B>CEA</B> and the <B>SUPERVISION</B>, by means of a seal that indicates the
date of reception of the document by <B>CEA </B>and the <B>SUPERVISION </B>and, if applicable, the date of the <B>NON-OBJECTION</B>
by them.. The <B>NON-OBJECTION</B> may be implied, for the simple lapse of the previously mentioned terms, in which case it shall
not require written evidence expressing the <B>NON-OBJECTION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>CONSTRUCTION, EQUIPMENT, TESTS AND SET-UP OF OPERATIONS.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">(a)</TD><TD STYLE="text-align: justify">The construction and equipment of the <B>PROJECT WORKS</B>, shall be concluded in a period of up
to 34 (thirty four) months (subject to the extensions provided in this <B>APP</B>), counted as from the <B>APP EFFECTIVENESS COMMENCEMENT</B>
and shall conclude on the date of issuance of the <B>MINUTES OF TERMINATION OF CONSTRUCTION</B>. Upon termination of the construction
of all the works of the <B>SYSTEM</B>, the <B>DEVELOPER</B> shall have 2 (two) months to carry out the <B>TESTS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">(b)</TD><TD STYLE="text-align: justify">During the construction and equipment stage of the <B>PROJECT WORKS</B>, per request of the <B>DEVELOPER</B>,
<B>CEA</B> shall inspect the progress of the <B>PROJECT WORKS</B> on a monthly basis, based on the <B>ESTIMATES</B> of the <B>PROJECT
WORKS</B> prepared by the <B>DEVELOPER</B> pursuant to the <B>CALENDARED SCHEDULE </B>and, if applicable, shall issue partial minutes
with respect to the satisfactory termination thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">(c)</TD><TD STYLE="text-align: justify">While the <B>DEVELOPER</B> carries out the <B>TESTS</B> of the <B>SYSTEM</B>, it shall notify in
writing to <B>CEA </B>and to the <B>SUPERVISION</B>, proposing a draft of the <B>MINUTES OF CAPACITY,</B> for them to be able to
verify the conditions in which the <B>PARTIES </B>shall issue the <B>MINUTES OF COMMENCEMENT OF OPERATION</B>. To that effect,
<B>CEA</B> and the <B>SUPERVISION</B> shall have a period of 5 (five) <B>BUSINESS DAYS</B> to verify such conditions during the
<B>TESTING PERIOD</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -14.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -14.15pt">(d)
The <B>MINUTES OF CAPACITY</B> shall not be issued in the event that the <B>PROJECT </B>does not comply with the capacity established
in this <B>APP</B> and its Exhibits, which shall be verified and recorded by <B>CEA</B> and the <B>SUPERVISION</B>. In such event,
only to the extent that the <B>CAPACITY MINUTES</B> may not be issued in the term scheduled for the <B>INVESTMENT PERIOD</B> due
to causes exclusively attributable to the <B>DEVELOPER</B>, the <B>DEVELOPER</B> shall be subject to the payment of the applicable
conventional penalties pursuant to the terms of the applicable provisions of this <B>APP</B> and shall be obliged to maintain in
force and effect the <B>CONSTRUCTION GUARANTEE</B> until the issuance of the <B>MINUTES OF CAPACITY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> acknowledge and agree
that the <B>INVESTMENT PERIOD</B> shall be automatically extended and without any liability for the <B>DEVELOPER</B>, during the
time (i) required by the <B>DEVELOPER</B> to carry out the adjustments to the <B>EXECUTIVE PROJECT</B> that if applicable, result
inviable; and (ii) that it takes to verify the conditions in which the <B>MINUTES OF CAPACITY</B> shall be issued, in the event
that it exceeds the 5 (five) <B>BUSINESS DAYS</B> term mentioned in section (c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FIFTH. EXECUTION OF THE PROJECT AND
FINANCING.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> obliges itself to
carry out the activities that comprise the <B>PROJECT</B>, in accordance with this <B>APP</B>, the <B>EXECUTIVE PROJECT</B> and
complying with the specifications established in this <B>APP </B>and its Exhibits. For such purposes, the <B>DEVELOPER</B> shall
provide all the materials, equipment, tools and specialized personnel required for the construction, equipment and <B>SET-UP OF
OPERATIONS</B>, in accordance with the information provided in the <B>BASES OF THE PUBLIC BIDDING</B> and subject to the provisions
of the <B>PROPOSAL</B> and the <B>APP </B>and its Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the performance of the <B>PROJECT</B>,
the <B>DEVELOPER</B> shall be subject to the <B>APPLICABLE LAWS </B>related to construction, environmental impact, safety and hygiene,
as well as all other applicable matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as otherwise expressly provided
in this <B>APP, </B>the <B>DEVELOPER</B> is obliged to acquire all the necessary authorizations and rights for the exploitation
of the material and deposit banks, as well as any other necessary asset, different to those provided in <B>CLAUSE EIGHT </B>which,
if applicable, are required for the <B>PROJECT</B>, including the performance of the corresponding studies. In any event, should
additional assets, right and/or studies to those considered in the <B>PROPOSAL</B> be required, the <B>CONSIDERATION </B>shall
be adjusted in the corresponding proportion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall register on
a daily basis, systematically and permanently in the <B>LOGBOOK,</B> all the activities carried out for the execution of the <B>PROJECT,</B>
as well as those incidents that occur and affect or may affect the <B>WORKS</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> is obliged to appoint
the <B>SUPERINTENDENT</B> in writing, at the commencement of the <B>WORKS</B>, who shall be the link with the <B>WORKS RESIDENT</B>
and the <B>SUPERVISION</B>; who shall have sufficient power and authority to make decisions in everything related with the compliance
and execution of this <B>APP</B>. The <B>DEVELOPER</B> may replace the person acting as the <B>SUPERINTENDENT</B> from time to
time throughout the term of this <B>APP, </B>by written notice to <B>CEA</B>, at least, 5 (five) <B>BUSSINESS DAYS</B> in advance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall provide to the
<B>WORKS RESIDENT</B>, all the information requested in writing by the latter through the <B>SUPERINTENDENT</B>, and shall allow
the individuals authorized in writing by the <B>WORKS RESIDENT</B>, to carry out the visits and inspections that they deem necessary.
In both events, the <B>WORKS RESIDENT</B> shall notify to the <B>SUPERINTENDENT</B> at least 3 (three) <B>BUSINESS DAYS</B> in
advance to the delivery date of the corresponding information, or for carrying out the visits and inspections deemed necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the execution of the <B>PROJECT</B>,
in all those events in which certain level of specialization or professionalization is not required, the <B>DEVELOPER</B> shall,
preferably, use local labor, transport and material resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Likewise, the <B>DEVELOPER</B> shall be
solely liable to obtain and maintain in full force and effect, based exclusively on its own resources and without any kind of additional
resource to the <B>CONSIDERATION </B>at the expense of <B>CEA</B>, all the debt and capital financing necessary to carry out the
<B>PROJECT</B>, as well as to comply with the other obligations of the <B>DEVELOPER</B> pursuant to this <B>APP</B>, in the understanding
that the obligations of the <B>DEVELOPER</B> pursuant to this <B>APP</B> shall be subject to its capacity of obtaining such financing
and to the condition of achieving or not the financial closing, pursuant to Clause Forty Fourth of this <B>APP</B>. The <B>DEVELOPER</B>
shall make its best efforts to execute the <B>FINANCIAL AGREEMENTS</B> and to achieve the financial closing as soon as possible
after the execution of this <B>APP</B>. It shall be understood that the <B>DEVELOPER</B> has complied with its obligation of executing
the <B>FINANCIAL AGREEMENTS</B> and achieving the financial closing once it evidences having access to the necessary resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA </B>shall support the <B>DEVELOPER</B>
in its efforts to achieve the execution of the <B>FINANCIAL AGREEMENTS</B>. To that effect, <B>CEA</B> shall, among others, in
a timely manner, make its best efforts to carry out all of the necessary and convenient acts to the satisfaction of the <B>CREDITORS</B>
or potential <B>CREDITORS</B>, to implement the recommendations that are reasonably requested by the <B>CREDITORS</B> or potential
<B>CREDITORS</B> to ensure the bankability of the <B>PROJECT</B> and provide all the documents and information related with itself
that the <B>DEVELOPER</B> requires, or that is reasonably appropriate for this kind of operation in accordance with market practices,
to speed up the securing of the required financing for the <B>PROJECT</B> by the <B>DEVELOPER</B>. <B>CEA</B> shall deliver such
documents and information as soon as reasonably possible, but in no event in a term exceeding 10 (ten) <B>BUSINESS DAYS</B>, following
receipt of the written request of the <B>DEVELOPER</B> requiring such information, and the <B>DEVELOPER</B> shall execute such
confidentiality agreements that <B>CEA</B> reasonably deems appropriate with respect to the requested information, in the understanding
that such agreements shall allow it to reveal the information and documents provided for the mentioned purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> agree that, in the event
that, prior to the execution of the <B>FINANCIAL AGREEMENTS,</B> a relevant fluctuation in the reference values used for the delivery
of the <B>ECONOMIC PROPOSAL</B> occurs, which could significantly impact the <B>PROPOSAL</B> awarded by the <B>AWARD</B>, or, in
the event that the <B>CREDITORS</B> request the implementation of the reasonable recommendations to ensure the bankability of the
<B>PROJECT</B>, <B>CEA</B> and the <B>DEVELOPER</B> shall negotiate in good faith, and mutually and jointly agree, in writing,
a fair and reasonable adjustment mechanism that acknowledges such impact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Irrespective of the foregoing, upon the
lapsing of 9 (nine) months following the date of submittal of the <B>PROPOSAL</B>, that is, January 21, 2017, the <B>PARTIES</B>
shall jointly analyze the existence of such fluctuations and, if such is the case, they shall negotiate in good faith, and mutually
and jointly agree, in writing, the aforementioned adjustment mechanism.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SIXTH. OPERATION OF THE SYSTEM.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be obliged to
operate and maintain the <B>SYSTEM</B> as from the execution of the <B>MINUTES OF COMMENCEMENT OF OPERATION</B>, subject to the
terms and conditions mentioned in <B>EXHIBIT 5</B> of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be responsible
for the operation, conservation, maintenance and replacement of equipment, structures, buildings, roads, green areas, exterior
works, furniture, vehicles, facilities and principal and complementary systems in the Site, in the terms and conditions established
in the <B>APP, </B>its Exhibits and in the <B>APPLICABLE LAWS</B> and the operation regulations that shall be prepared by the <B>DEVELOPER</B>
and submitted to the approval of <B>CEA, </B>which, once they have been prepared and, if applicable, approved by the <B>PARTIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the <B>OPERATION PERIOD</B>, <B>CEA</B>
and the <B>DEVELOPER</B> shall maintain permanently informed of the technological improvements, adjustments and innovations released
into the market in connection with the parts, components, equipment, processes, subsystems, patents and technologies used within
the <B>SYSTEM</B>, with the purpose of studying, analyzing and, if applicable, proposing their replacement or adaptation if such
produce an increase in efficiency and a reduction of costs that benefit both <B>PARTIES.</B> In the event that the <B>DEVELOPER</B>
acquires knowledge of efficiency increases or reduction of costs, within the <B>30 BUSINESS DAYS</B> from the date on which it
has knowledge of the efficiencies increase and/or of the reduction in costs resulting from such technological improvements, adjustments
or innovations it shall submit to the approval of <B>CEA</B>, a cost-benefit study, also attaching the detailed analysis of the
related costs and expenses and their repercussion on the agreed <B>CONSIDERATION</B>, whether in its form or term, for the analysis
of <B>CEA </B>and, if applicable, the corresponding authorization. The modifications shall adjust to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the technological innovations do not
require any additional compensation nor imply a reduction of the obligations of the <B>DEVELOPER</B>, they may be agreed upon at
any moment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the modifications require additional
compensation, or imply a reduction of the obligations of the <B>DEVELOPER</B>, each and all of the following conditions shall have
to be met:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">a)</TD><TD STYLE="text-align: justify">Compliance of the conditions mentioned in sections I, II or IV of article 106 of the <B>LAPPEBC</B>,
the necessity and benefits of the modifications, as well as the amount of additional compensation or reduction of obligations,
shall be evidenced with the opinion of independent experts;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">b)</TD><TD STYLE="text-align: justify">During the first 2 (two) years immediately following the award of the <B>PROJECT</B>, the amount
of the modifications, in its whole, shall not exceed the equivalent of twenty percent of the agreed cost of the infrastructure,
as well as the consideration for the services during the first 12 (twelve) months of their rendering; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">c)</TD><TD STYLE="text-align: justify">When, after the first 2 (two) years of the award of the <B>PROJECT&cedil;</B> the modifications
previously authorized and pending authorization, exceed as a whole the equivalent of twenty percent of the cost of the infrastructure,
as well as the consideration for the services during the first 12 (twelve) months of their rendering, they shall be expressly approved
by the director of <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> is obliged to develop
a program to train the necessary personnel indicated by <B>CEA </B>to attend emergencies, related with circumstances preventing
or that may prevent the operation of the <B>SYSTEM</B> by the <B>DEVELOPER</B>. Such program shall be submitted to the consideration
of <B>CEA, </B>within the <B>60 (sixty) BUSINESS DAYS </B>prior to the <B>DATE OF COMMENCEMENT OF OPERATIONS</B>. <B>CEA</B> shall
formulate its comments within the following <B>5 (five) BUSINESS DAYS</B> and shall establish a date for the <B>DATE OF COMMENCEMENT
OF OPERATIONS</B> to take place. This training shall be limited to 1 (one) sole training program for no more than 12 (twelve) people.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SEVENTH. REPLACEMENT OF EQUIPMENT, CONSERVATION
AND MAINTENANCE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall preserve and
maintain the <B>SYSTEM</B>, during all the <B>OPERATION PERIOD, </B>in normal conditions of operation and functioning, subject
to the terms and conditions mentioned in <B>EXHIBIT 5</B> of this <B>APP</B>. Likewise, it shall be strictly subject to the <B>OPERATION
AND MAINTENANCE HANDBOOK</B>, that shall be prepared by the <B>DEVELOPER</B>, pursuant to the <B>PROPOSAL</B>, which shall be delivered
to <B>CEA</B> for approval, at least 1 (one) month in advance to the date foreseen as the <B>DATE OF COMMENCEMENT OF OPERATIONS</B>.
Such handbook shall establish and describe the policies, objectives and guidelines with respect to quality, personnel and technical,
human and material resources that shall be applied during these stages of the <B>PROJECT</B>, with the purpose of avoiding situations
that affect it. Any update or modification to these handbooks shall be submitted to <B>CEA</B> for its consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The conservation and maintenance to which
the <B>DEVELOPER</B> is obliged implies the replacement or repair of all ordinary flaws and damages caused in the facilities of
the <B>SYSTEM</B> within the terms mutually agreed with <B>CEA</B>. Therefore, the <B>DEVELOPER</B> shall not be liable for such
replacements or repairs when the damages or flaws have been caused by actions or omissions of <B>CEA</B> or of third parties, or
when they arise from extraordinary or unforeseeable circumstances, including without limitation, <B>ACTS OF GOD</B>, <B>FORCE MAJEURE
EVENTS</B> or <B>CHANGES IN LAW</B>, as such expenses shall be covered by insurances at the expense of the <B>DEVELOPER</B>, pursuant
to the provisions of this <B>APP</B>, and up until the amount corresponding to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall inform <B>CEA</B>
with at least 10 (ten) <B>BUSINESS DAYS </B>of anticipation, the ordinary periods of conservation and maintenance which the <B>DEVELOPER</B>
shall try to carry out in an escalated manner to avoid the complete stop of the <B>SEAWATER DESALINATION PLANT</B>. However, in
those cases in which the <B>SEAWATER DESALINATION PLANT</B> is completely stopped due to the ordinary conservation and maintenance
or those in which, as a result of the conservation and maintenance actions, the <B>DEVELOPER</B> shall not able to deliver to <B>CEA</B>
the corresponding volume of <B>POTABLE WATER</B>, the <B>DEVELOPER</B> shall be excused of complying with the delivery of the corresponding
volume <B>of POTABLE WATER</B>. For purposes of the extraordinary or unforeseen conservation and maintenance periods, the <B>PARTIES</B>
shall agree the periods in which the <B>SEAWATER DESALINATION PLANT</B> shall be fully stopped (in which event, the <B>DEVELOPER</B>
shall be excused of complying with the delivery of the corresponding <B>POTABLE WATER</B> volume).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deficiencies in the conservation and maintenance
of the <B>SYSTEM</B> that are detected by <B>CEA </B>during the <B>OPERATION PERIOD</B> shall be notified in writing by <B>CEA</B>
to the <B>DEVELOPER</B>, in order for them to be corrected by the <B>DEVELOPER</B> in the term mutually agreed with <B>CEA. </B>Notwithstanding
the foregoing, in the event that the <B>DEVELOPER</B> does not agree with the deficiencies notified by <B>CEA</B>, the <B>DEVELOPER</B>
may submit such disagreement to the procedure established in <B>CLAUSE THIRTY FOURTH</B> of this <B>APP</B>. The foregoing notwithstanding
the obligation of the <B>DEVELOPER</B> to pay the applicable conventional penalties established in <B>CLAUSE THIRTY FIFTH</B> of
this <B>APP</B>, when such deficiencies in the conservation and maintenance of the <B>SYSTEM</B> are exclusively attributable to
the <B>DEVELOPER</B>. The foregoing irrespective of enforcing, if applicable, the <B>OPERATION GUARANTEE</B>, pursuant to the provisions
of the <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of the conservation and maintenance
of the <B>SYSTEM</B>, the <B>DEVELOPER</B> shall acquire and, if applicable, keep in the workplaces, the materials, supplies, devices,
equipment and spare parts, instruments, controls, pipelines, tools and other assets necessary for the ordinary functioning and
preventive and corrective attention that the maintenance of the <B>SYSTEM</B> requires, during the term of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall register on
a daily basis, systematically and permanently in the <B>LOGBOOK,</B> all the activities carried out for the execution, conservation,
repair or replacement of equipment and the maintenance to the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The operation, conservation, repair or
replacement of equipment and maintenance in terms of this <B>APP</B>, shall be in charge of the <B>DEVELOPER </B>during 444 (four
hundred and forty four) months following the date of issuance and execution of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EIGHTH. REAL ESTATE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be responsible
of obtaining the <B>EASEMENTS</B> and rights of passage, as well as to obtain the authorizations for crossing of <B>RIGHTS OF WAY
</B>that allow access to the <B>SITE</B>, as such become necessary for each of the two stages of the <B>PROJECT</B>, in the understanding
that <B>CEA </B>shall aid the <B>DEVELOPER </B>in connection with any effort to obtain such <B>EASEMENTS</B> and <B>RIGHTS OF WAY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall make its best
efforts in order to for the corresponding <B>GOVERNMENTAL AUTHORITIES, CENTRALIZED AGENCIES, DESCENTRALIZED ENTITIES </B>and/or
<B>MUNICIPALITIES</B> to carry out the procedures for the release of the <B>RIGHTS OF WAY, </B>for the construction, operation,
inspection and maintenance of the high tension electric energy supply line, in the real estate that are located outside of the
<B>SEAWATER DESALINATION PLANT</B>, in the understanding that <B>CEA</B> shall aid the <B>DEVELOPER</B> in any effort to obtain
the release of such <B>RIGHT OF WAY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The rights that the <B>DEVELOPER</B> has
or shall acquire shall be sufficient to allow the latter their use for the construction and operation of the <B>SEAWATER DESALINATION
PLANT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The agreements, authorizations and other
acts necessary for the pacific use and occupation of the <B>SITE</B> where the <B>SEAWATER DESALINATION PLANT</B> shall be built,
shall be obtained by the <B>DEVELOPER</B>, the latter being obliged to make a commercially reasonable effort to commence and develop
the works in such <B>SITE</B> and to operate it throughout the term of this <B>APP</B> within the terms established to that effect
in this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The acquisition and possession of the plot
of land in which the <B>SEAWATER DESALINATION PLANT</B> shall be constructed, shall be the exclusive responsibility of the <B>DEVELOPER</B>,
in terms of the <B>APPLICABLE LAWS</B>, for such purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall acquire the
possession and ownership of the real estate in which the <B>SEAWATER DESALINATION PLANT</B> shall be constructed, at the latest,
within the [30 (thirty) <B>BUSINESS </B>DAYS] following the execution of the <B>FINANCIAL AGREEMENTS</B>, being responsible for
their adequate use and assuming the purchase and sale obligations thereof, for which <B>CEA</B> shall have neither liability nor
obligation, before the <B>DEVELOPER</B> or before any third parties, except for the provisions of this <B>APP </B>and the payment
of contributions that may correspond in the terms of the <B>APPLICABLE LAWS</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of any contingency related
with the <B>SITE</B>, with the <B>EASEMENTS</B> and <B>RIGHTS OF WAY</B> that in its case are required, the <B>DEVELOPER</B> shall
assume the corresponding responsibility, having to exercise the corresponding actions and to notify <B>CEA</B> in a term no longer
than 5 (five) <B>BUSINESS DAYS</B> following the date of knowledge of such contingency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On its part, <B>CEA</B> shall support the
efforts of the <B>DEVELOPER</B>, carrying out the necessary actions, in accordance with the <B>APPLICABLE LAWS</B>, to comply with
this clause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, the <B>DEVELOPER</B>
is obliged to commence or continue with the execution of the <B>PROJECT</B> in the other fronts and segments of the <B>SITE</B>,
pursuant to the <B>EXECUTIVE PROJECT</B>. In the event that the corresponding contingency permanently affects the <B>PROJECT</B>,
the <B>PARTIES</B> shall mutually agree the pertinent adjustments to the <B>EXECUTIVE PROJECT</B> and to the <B>CALENDARED SCHEDULE</B>
and, if applicable, to the <B>CONSIDERATION</B>, without any liability for the <B>DEVELOPER</B>, including the delays in the <B>DATE
OF COMMENCEMENT OF OPERATIONS</B> that the foregoing may imply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NINTH. OWNERSHIP OF THE ASSETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> agree that all the premises
and <B>PROJECT WORKS</B>, as well as all the materials and operative equipment comprising the <B>SEAWATER DESALINATION PLANT</B>
shall be destined exclusively to the rendering of the services subject-matter of this <B>APP</B>, throughout its term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon expiration of the term of the <B>APP</B>,
the <B>DEVELOPER </B>shall transfer, gratuitously and free of any lien, in favor of <B>CEA,</B> the ownership of all technical
documentation (including without limitation: blueprints, memoirs, operation handbooks, studies and appraisals), and of the facilities,
equipment, spare parts, materials, moveable assets and real estate, rights arising from the agreements related to the real estate
on which the infrastructure of the <B>SYSTEM</B> shall be installed or constructed, supplies and accessories that comprise the
<B>PROJECT</B>, in terms of <B>CLAUSE TWENTY FIFTH, </B>issuing the necessary documents to evidence the transfer of such ownership
and its physical or legal delivery in the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With respect to certain accessory, temporary
and compatible rights of use and exploitation over a surface of land within the Presidente Juarez Thermoelectrical Plant, the <B>DEVELOPER</B>
shall make its best efforts to cause that, at the renewal of the agreement from which such rights arise, <B>CEA</B> becomes co-tenant
and, if applicable, that, in its moment, such agreement is assigned to <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">By no means, shall the <B>DEVELOPER</B>
be owner of the water before, during or after the potabilization treatment, nor will it have any right over it or over its products
or sub-products for purposes different than compliance with this <B>APP</B>; therefore it shall not be able to commercialize it
in any way.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TENTH. PROCUREMENT OF PERMITS AND AUTHORIZATIONS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> and <B>CEA</B> oblige
themselves to procure, obtain and maintain in full force and effect each and every concessions, authorizations, licenses and permits
established as their responsibility in <B>EXHIBITS</B> 15 and 16 of this <B>APP</B> which are necessary during the <B>INVESTMENT
PERIOD</B> and the <B>OPERATION PERIOD</B>, that pursuant to the <B>APPLICABLE LAWS</B> and this <B>APP</B> are required for the
complete fulfillment of the subject-matter of this <B>APP</B>, in the understanding that the <B>PARTIES </B>shall aid each other,
to the extent necessary, in connection with any effort to obtain the necessary authorizations, licenses and permits, including
without limitation, the aid to facilitate communications among the <B>DEVELOPER</B> and the corresponding <B>GOVERNMENTAL AUTHORITIES</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that the <B>DEVELOPER</B>
cannot timely obtain or is unable to obtain the authorizations, licenses and permits referred to in this <B>CLAUSE TENTH</B>, in
spite complying with all the applicable requirements therefor and having the cooperation of <B>CEA</B> to obtain them, it shall
be considered that a <B>FORCE MAJEURE EVENT</B> has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ELEVENTH. CONSIDERATION FOR THE SERVICES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">All of the services provided by the <B>DEVELOPER</B> under the <B>APP</B>, including without limitation
the desalination, potabilization, conduction and delivery of the <B>INTAKE WATER</B> and the execution of the <B>PROJECT WORKS</B>,
in accordance with the provisions of this <B>APP</B>, shall be determined with the following formula for purposes of its payment:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>C = T1
+ T2 + (T3 X Q) +( T4 X Q)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Where:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>C = </B>Total monthly invoicing
without <B>IVA</B>, for the amortization of the investment for the construction, equipment and set-up of service of the <B>SYSTEM</B>,
as well as for the operation, conservation and replacement of the equipment of the <B>SYSTEM</B> in <B>PESOS</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <B>T1=T1C+T1R</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Where:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>T1 (FIXED INVESTMENT TARIFF)
</B>= The monthly tariff without <B>IVA</B> in <B>PESOS</B> to cover the investment costs of the <B>DEVELOPER</B>, in the <B>SYSTEM</B>
for the resources from the <B>FINANCIAL AGREEMENTS</B> (T1C) and <B>RISK CAPITAL </B>(T1R) for the construction, equipment and
<B>SET-UP OF OPERATIONS</B> of the <B>PROJECT.</B> The T1 shall be paid during a term of 444 (four hundred and forty four) months
by <B>CEA</B> to the <B>DEVELOPER</B>, invariably, starting on whichever occurs first&nbsp;of (a) the issuance and execution of
the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B> of the <B>SEAWATER DESALINATION PLANT</B>, or (b) the month 37 (thirty seven)
counted as from the date of the <B>MINUTES OF COMMENCEMENT OF THE APP</B>, and shall be calculated pursuant to <B>EXHIBIT 13</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>TIC = </B>The monthly tariff
without <B>IVA</B> in <B>PESOS</B> to pay for the amortization costs of the investment of the <B>TOTAL COST OF THE SYSTEM</B> carried
out by the <B>DEVELOPER</B> with resources from the <B>FINANCIAL AGREEMENTS</B> in the <B>SYSTEM</B>, for the preparation of the
<B>EXECUTIVE PROJECT</B>, construction, equipment and <B>SET-UP OF OPERATIONS</B> of the <B>PROJECT</B>, which shall be paid during
the term of 444 (four hundred and forty four) months by <B>CEA</B> to the <B>DEVELOPER</B> pursuant to Format 6 of Exhibit G Financial
Formats for the calculation of the <B>CONSIDERATION</B> of the <B>ECONOMIC PROPOSAL</B>, in the understanding that such tariff
shall be paid invariably as from whichever occurs first&nbsp;of (a) the issuance and execution of the <B>MINUTES OF COMMENCEMENT
OF OPERATION</B> of the <B>SEAWATER DESALINATION PLANT</B>, or (b) the month 37 (thirty seven) counted as from the date of the
<B>MINUTES OF COMMENCEMENT OF THE APP. </B>This <B>T1C</B> tariff shall be calculated pursuant to <B>EXHIBIT 13</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>T1R = </B>The monthly tariff
without <B>IVA</B> in <B>PESOS</B> to pay for the amortization costs of the investment of the <B>COST OF THE SYSTEM</B> carried
out by the <B>DEVELOPER</B> with <B>RISK CAPITAL</B> in the <B>SYSTEM</B>, for the preparation of the <B>EXECUTIVE PROJECT</B>,
construction, equipment and <B>SET-UP OF OPERATIONS</B> of the <B>PROJECT</B>, which shall be paid during the term of 444 (four
hundred and forty four) months by <B>CEA</B> to the <B>DEVELOPER</B> pursuant to Format 7 of Exhibit G Financial Formats for the
calculation of the <B>CONSIDERATION</B> of the <B>ECONOMIC PROPOSAL</B>, in the understanding that such tariff shall be paid invariably
as from whichever occurs first&nbsp;of (a) the issuance and execution of the <B>MINUTES OF COMMENCEMENT OF OPERATION</B> of the
<B>SEAWATER DESALINATION PLANT</B>, or (b) the month 37 (thirty seven) counted as from the date of the <B>MINUTES OF COMMENCEMENT
OF THE APP. </B>This <B>T1R</B> tariff shall be calculated pursuant to <B>EXHIBIT 13</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the understanding, however,
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Irrespective of the reason thereof,
in the event of a temporary suspension of works or a delay in their execution, or the occurrence of the early termination or rescission
of this <B>APP</B> during the <B>INVESTMENT PERIOD, </B>T1 shall be understood as T1 <SUB>PROPORTIONAL</SUB>, pursuant to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>T1<SUB>proportional</SUB>=
T1C<SUB>proportional</SUB>+ T1R<SUB>proportional</SUB></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>Where:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>T1 </B><SUB>PROPORTIONAL</SUB>
<B>.- </B>The monthly tariff without <B>IVA</B> in <B>PESOS</B> to pay for the fixed costs of amortization of the investment of
the <B>TOTAL COST OF THE SYSTEM</B> effectively carried out or, if applicable, incurred by the <B>DEVELOPER</B> with resources
from the <B>FINANCIAL AGREEMENTS </B>and <B>RISK CAPITAL</B> in the <B>SYSTEM</B> for the construction, equipment and <B>SET-UP
OF OPERATIONS</B> of the <B>PROJECT </B>at any moment in which, regardless of the reason therefor, there is a temporary suspension
of the <B>PROJECT WORKS</B> or a delay in their execution, or an early termination or rescission of the <B>APP</B> occurs during
the <B>INVESTMENT PERIOD</B>. This tariff shall be paid by <B>CEA</B> to the <B>DEVELOPER</B> with NO EXCEPTION during the term
of 444 (four hundred and forty four) months pursuant to Formats 6 and 7 of &ldquo;<B>EXHIBIT G.</B> Financial Formats for the calculation
of the <B>CONSIDERATION</B>&rdquo; of the <B>ECONOMIC PROPOSAL, </B>invariably, as from the date originally foreseen for the payment
of the <B>CONSIDERATION</B>, that is, as from whichever occurs first&nbsp;of (a) the date of early termination of the <B>APP</B>,
or (b) the month 37 (thirty seven) counted as from the date of the <B>MINUTES OF COMMENCEMENT OF THE APP. </B>This tariff shall
be calculated pursuant to <B>EXHIBIT 13, </B>and shall be paid monthly according to the advance of the <B>WORKS</B>, as this tariff
is destined to the payment of the <B>FINANCIAL AGREEMENTS </B>and the <B>RISK CAPITAL</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>T1C </B><SUB>PROPORTIONAL</SUB>
<B>.- </B>The monthly tariff without <B>IVA</B> in <B>PESOS</B> to pay for the fixed costs of amortization of the investment of
the <B>TOTAL COST OF THE SYSTEM</B> effectively carried out or, if applicable, incurred by the <B>DEVELOPER</B> with resources
from the <B>FINANCIAL AGREEMENTS </B>in the <B>SYSTEM</B> for the construction, equipment and <B>SET-UP OF OPERATIONS</B> of the
<B>PROJECT </B>at any moment that, regardless of the reason therefor, there is a temporary suspension of the <B>PROJECT WORKS</B>
or a delay in their execution, or the occurrence of an early termination or rescission of the <B>APP</B> during the <B>INVESTMENT
PERIOD</B>. This tariff shall be paid by <B>CEA</B> to the <B>DEVELOPER</B> with NO EXCEPTION during the term of 444 (four hundred
and forty four) months pursuant to Format 6 of &ldquo;<B>EXHIBIT G.</B> Financial Formats for the calculation of the <B>CONSIDERATION</B>&rdquo;
of the <B>ECONOMIC PROPOSAL, </B>invariably, as from whichever occurs first&nbsp;of (a) the early termination of the <B>APP</B>,
or (b) the month 37 (thirty seven) counted as from the date of the <B>MINUTES OF COMMENCEMENT OF THE APP. </B>This tariff shall
be calculated pursuant to <B>EXHIBIT 13, </B>and shall be paid monthly, updated and according to the advance of the <B>WORKS</B>,
as this tariff is destined to the payment of the <B>FINANCIAL AGREEMENTS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>T1R </B><SUB>PROPORTIONAL</SUB>
<B>.- </B>The monthly tariff without <B>IVA</B> in <B>PESOS</B> destined to pay for the fixed costs of amortization of the investment
of the <B>COST OF THE SYSTEM</B> effectively carried out or, if applicable, incurred by the <B>DEVELOPER </B>with <B>RISK CAPITAL
</B>in the <B>SYSTEM</B> for the construction, equipment and <B>SET-UP OF OPERATIONS </B> of the <B>PROJECT</B> at any moment that,
regardless of the reason therefor, there is a temporary suspension of the <B>PROJECT WORKS</B> or a delay in their execution or
the occurrence of an early termination or rescission of the <B>APP</B> during the <B>INVESTMENT PERIOD</B>. This tariff shall be
paid by <B>CEA</B> to the <B>DEVELOPER</B> with NO EXCEPTION during a term of 444 (four hundred and forty four) (XXX) months pursuant
to Format 7 of &ldquo;<B>EXHIBIT G.</B> Financial Formats for the calculation of the <B>CONSIDERATION</B>&rdquo; of the <B>ECONOMIC
PROPOSAL, </B>invariably, as from whichever occurs first&nbsp;of (a) the date of the early termination of the <B>APP</B>, or (b)
the month 37 (thirty seven) counted as from the date of the <B>MINUTES OF COMMENCEMENT OF THE APP. </B>This tariff shall be calculated
pursuant to <B>EXHIBIT 13, </B>and shall be paid monthly, updated and according to the advance of the <B>WORKS</B>, as this tariff
is destined to the payment of the <B>RISK CAPITAL</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>T2 (FIXED OPERATION AND MAINTENANCE
TARIFF) </B>= The monthly global tariff without <B>IVA</B> in <B>PESOS</B> to pay for the fixed costs of operation, equipment replacement,
conservation and maintenance of the <B>SEAWATER DESALINATION PLANT</B> pursuant to the <B>ECONOMIC PROPOSAL</B>, the <B>APP</B>
and its <B>EXHIBIT 13</B>, including without limitation, the costs of the insurance agreements, the costs for the salaries of the
employees of the <B>DEVELOPER</B>, the payments to sub-contractors, cost of operation, conservation and preventive and corrective
maintenance of the <B>SYSTEM</B>, the costs of the bonds, plus the profit of the <B>DEVELOPER</B> for the rendering of the services,
labor and administration expenses. The costs included in this tariff are not related to the volume of water to be desalinated;
therefore, it shall be paid by <B>CEA</B> as from the moment of issuance of the <B>MINUTES OF COMMENCEMENT OF OPERATION</B> and
throughout the <B>OPERATION PERIOD</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>T3 (VARIABLE OPERATION AND MAINTENANCE
TARIFF)</B>.- It is the tariff per cubic meter without <B>IVA</B> in <B>PESOS</B> to pay for the variable costs of operation of
the <B>SEAWATER DESALINATION PLANT</B> pursuant to the <B>ECONOMIC PROPOSAL</B> of the <B>DEVELOPER</B>, this <B>APP</B> and the
<B>EXHIBIT 13</B>, including without limitation, chemical products and consumable materials and the supplies for the replacement
of the membranes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>T4.- </B>It is the cost of electric
energy per cubic meter used to carry out the desalinization process of <B>INTAKE WATER</B> and the conduction used by the <B>SYSTEM</B>
until the <B>DELIVERY POINT</B>. The T4 is comprised by the guaranteed consumption of electric energy in kWh/m3, for the process
of desalination of the <B>INTAKE WATER</B> and pumping until the <B>DELIVERY POINT</B>, multiplied by the cost of energy in pesos/kWh.
The cost of energy that shall be considered is the official tariff for HT (high voltage transmission level) established by <B>CFE</B>
in its official website. The initial T4 is mentioned in the <B>EXHIBIT 13 </B>of this <B>APP</B>, which will be updated pursuant
to the terms of such Exhibit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">T4 = Ce x Tcfe</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">Ce = The electric energy consumption
per cubic meter (kWh/m3) pursuant to Format 9 of the <B>ECONOMIC PROPOSAL</B>. In the event that the requested water volume differs
from the volume included in the mentioned Format 9, the consumption of electric energy may vary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.35pt; text-align: justify">Tcfe = Official tariff published
in the official website of <B>CFE</B> for the high voltage transmission level (HT) per kw-hr for the corresponding month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Q.- </B>It is the volume of <B>POTABLE
WATER </B>in cubic meters measured at the exit of the <B>SEAWATER DESALINATION PLANT</B> which, in average shall be of 5&rsquo;492,520
m3 monthly, considering an efficiency factor of 95%. For purposes of payment, Q represents the real volume in cubic meters registered
at the exit of the <B>SEAWATER DESALINATION PLANT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">During the <B>OPERATION PERIOD</B> and, in the event that the <B>SEAWATER DESALINATION PLANT</B>
cannot operate for reasons exclusively attributable to the <B>DEVELOPER</B>, the T1 and T2 tariffs shall be paid, the latter provided
that the <B>DEVELOPER</B> continues delivering the corresponding <B>POTABLE WATER</B> volume. The foregoing irrespective of the
application of conventional penalties in which the <B>DEVELOPER</B> incurs for the breach of its obligations herein acquired.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">In the event that the water production is less than the stipulated for reasons exclusively attributable
to the <B>DEVELOPER</B>, the <B>DEVELOPER</B> shall be entitled to the payment of the produced volumes irrespective of the applicable
conventional penalties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">4.</TD><TD STYLE="text-align: justify">In the event of <B>CHANGES IN LAW, ACTS OF GOD </B>or <B>FORCE MAJEURE EVENTS </B>and, as consequence
thereof, the <B>SYSTEM</B> cannot be partially or fully operated during the <B>OPERATION PERIOD</B>, then <B>CEA</B> shall pay
to the <B>DEVELOPER</B>, during the period of partial or complete suspension of the operation of the <B>SYSTEM</B>, all the T1,
T2 and the corresponding amounts of the T3 and T4, if any, plus the additional, reasonable and documented costs, arising as consequence
of the <B>ACT OF GOD, FORCE MAJEURE EVENT </B>or <B>CHANGE IN LAW</B>, and which the <B>DEVELOPER</B> could not have avoided, discounting
any resource from the insurance policies received by the <B>DEVELOPER</B> in respect to such <B>CHANGE IN LAW, ACT OF GOD</B> or
<B>FORCE MAJEURE EVENT</B>, being the <B>DEVELOPER</B> obliged to obtain the insurance policies for business interruption, for
the insurable risks in the Mexican market.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">5.</TD><TD STYLE="text-align: justify">It is expressly agreed by the <B>PARTIES</B> that the payment of the T1 is an irrevocable obligation
destined to the amortization of the investment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">6.</TD><TD STYLE="text-align: justify">The payment for the rendered services shall be made monthly by <B>CEA, </B>through the <B>ADMINISTRATION
TRUST</B> with the resources referred to by <B>CLAUSE TWENTY NINTH </B>of this <B>APP</B> and which it shall contribute to the
<B>ADMINISTRATION TRUST</B> pursuant to such Clause and other applicable provisions of this <B>APP</B>, adjusting the amounts established
in the summary charts of the <B>PROPOSAL </B>Formats 1 through 10 of Document No. 14 of the <B>BASES OF THE PUBLIC BIDDING</B>,
pursuant to the procedures, specifications and adjustment and updating formulas set forth in <B>EXHIBIT 13</B> of this <B>APP</B>.
In the event that such resources are not sufficient to pay for the rendered services, <B>CEA</B> shall contribute to the <B>ADMINISTRATION
TRUST</B> the necessary additional resources for the payment of the <B>CONSIDERATION.</B> The monthly amounts of the tariffs calculated,
pursuant to the average expense of the design of the <B>SEAWATER DESALINATION PLANT</B> in relation with the service rendered by
the <B>DEVELOPER</B>, at prices as of the month of February 2016 are as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">COMPONENT</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">MONTHLY <BR> PAYMENT<BR> STAGE 1</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">MONTHLY <BR> PAYMENT <BR> STAGE 2</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">T1C= Fixed cost for investment carried out with resources from the <B>FINANCIAL AGREEMENTS</B></FONT></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">32,293,174.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">20,753,609.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">T1R= Fixed cost for investment carried out with <B>RISK CAPITAL </B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16,740,295.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,785,231.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">T1 = Fixed cost for investment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">49,033,469.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">31,538,840.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">T2 = Fixed cost for operation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,301,170.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,920,245.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Fixed Subtotal:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">60,334,639.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">39,459,085.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">T3 = Variable cost of operation for each m<SUP>3</SUP> of <B>POTABLE WATER</B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">T4 = Variable cost of electric energy</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.49</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.53</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Monthly volume of <B>POTABLE WATER</B> in cubic meters measured at the exit of the <B>PLANT</B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,492,520.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,492,520.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Variable Subtotal:</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">24,662,209.00</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">24,856,086.00</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: justify; padding-bottom: 1pt">Total Monthly Cost:</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">84,996,848.00</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">64,315,171.00</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amounts above do not include <B>IVA,</B>
as it shall be covered at the time of payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">7.</TD><TD STYLE="text-align: justify">The monthly payment corresponding to the fixed costs of amortization and operation T1 and T2 shall
be made by <B>CEA</B> regardless of the volume of delivered <B>POTABLE WATER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">8.</TD><TD STYLE="text-align: justify">The monthly payment to the <B>DEVELOPER </B>corresponding to the variable costs of operation shall
be calculated by multiplying the real monthly volume in cubic meters (Q), <B>REGISTERED AT THE EXIT OF THE SEAWATER DESALINATION
PLANT</B> times the tariff in <B>PESOS</B> per cubic meter T3. In the event that the <B>DEVELOPER</B> concludes the construction
of the <B>PROJECT WORKS</B> corresponding to the first stage before the term of 34 (thirty four) months following the <B>APP EFFECTIVENESS
COMMENCEMENT, </B>and the <B>DEVELOPER</B> commences the operation of the <B>SEAWATER DESALINATION PLANT</B>, previously complying
with the <B>TESTS</B> before the term of 36 (thirty-six) months established for the <B>INVESTMENT PERIOD</B> and as long as the
<B>MINUTES OF CAPACITY</B> have been issued and are viable, <B>CEA</B> shall pay, during this period, the T1, T2 + (T3 X Q) + (T4
X Q) tariffs.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">9.</TD><TD STYLE="text-align: justify">The payment of the T1 tariff, shall in no event be interrupted during the 444 (four hundred and
forty four) months as from whichever occurs first between: (a) the issuance and execution of the <B>MINUTES OF COMMENCEMENT OF
OPERATIONS</B> of the <B>SEAWATER DESALINATION PLANT</B>, or (b) the 37<SUP>th</SUP> (thirty seventh) month as from the date of
the <B>MINUTES OF COMMENCEMENT OF THE APP</B>. If, during the <B>OPERATION PERIOD</B>, <B>CEA</B> fails to comply with its obligations
pursuant to this <B>APP</B>, it shall pay to the <B>DEVELOPER</B> the complete T1 and T2 tariff and (T3 X Q) + (T4 X Q) in the
applicable amount, pursuant to the level of operation that the <B>PROJECT </B>should have, had <B>CEA</B> not failed to comply,
as well as the additional costs and the damages and losses caused to the <B>DEVELOPER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWELVETH. ADJUSTMENTS TO THE AMOUNT
OF THE CONSIDERATION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The update and adjustment of the amount
of the <B>CONSIDERATION</B>, shall be in accordance with the provisions of <B>EXHIBIT 13</B> of this <B>APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTEENTH. METHOD OF PAYMENT OF THE
COMPENSATION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be entitled
to the payment of the monthly <B>COMPENSATION</B> from <B>CEA</B>, which shall be carried out by the Trustee of the <B>ADMINISTRATION
TRUST</B>, as from the month following the execution of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B>, in <B>PESOS</B> and in
the manner described below, in the understanding that the T1 tariff shall commence to be paid, invariably as from whichever occurs
first between: (a) the issuance and execution of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B> of the <B>SEAWATER DESALINATION
PLANT</B>, or (b) the 37<SUP>th</SUP> (thirty seventh) month as from the date of the <B>MINUTES OF COMMENCEMENT OF THE APP</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">The payment of the T1 and T2 shall be made pursuant to the procedure below:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Within the 5 (five) <B>BUSINESS
DAYS</B> following the 15<SUP>th</SUP> day of each month, the <B>DEVELOPER</B> shall submit to <B>CEA </B>the invoice corresponding
to the services rendered since the 16<SUP>th</SUP> day of the previous month, which shall contain the following specifications:
(i) the calculation of the amount of the <B>FIXED INVESTMENT TARIFF</B> (T1), detailing the tariffs T1C and T1R; and (ii) the <B>FIXED
OPERATION AND MAINTENANCE TARIFF</B> (T2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">The payment of the fixed tariffs shall be made as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The payment shall be made at
the latest, within the 5 (five) <B>BUSINESS DAYS</B> following the submittal by the <B>DEVELOPER</B> of the corresponding invoices
to <B>CEA</B>, without thereby requiring a counter receipt. The amounts of the components of the Fixed Tariffs shall be paid by
<B>CEA</B> through the <B>ADMINISTRATION TRUST</B> in the terms of the agreement formalizing the creation of the <B>ADMINISTRATION
TRUST</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Under no circumstances shall
<B>CEA</B> be entitled to suspend the payment of the fixed tariffs T1 and T2, except for the provisions of clause Eleventh of this
<B>APP </B>with respect to the T2 tariff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">The payment of the T3 and T4 tariffs shall be made in accordance with the following procedure:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Within the 5 (five) <B>BUSINESS
DAYS</B> following the 15<SUP>th</SUP> day of each month, the <B>DEVELOPER</B> shall submit to <B>CEA</B> the calculation of the
(T3 X Q) + (T4 X Q) tariffs for the services rendered as from the 16<SUP>th</SUP> day of the previous month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>CEA </B>shall review the calculations
corresponding to the components (T3 X Q) + (T4 x Q), within a term of 5 (five) <B>BUSINESS DAYS</B> counted as from the date of
its receipt. If upon the lapsing of such term, <B>CEA </B>has not made any observations; the submittal by the <B>DEVELOPER</B>
of the corresponding invoice shall proceed. In this case <B>CEA</B> shall issue the corresponding counter receipt against delivery
of the invoice by the <B>DEVELOPER</B>; in absence of the counter receipt the evidence of receipt of the invoice shall be considered
as a counter receipt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>CEA, </B>through the <B>ADMINISTRATION
TRUST</B>, shall pay each of the invoices referred to in this section within a term that shall not exceed 5 (five) <B>BUSINESS
DAYS</B> following the date of issuance of the corresponding counter receipts or the evidence of receipt of the invoices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that <B>CEA</B>
disagrees with the corresponding calculation the <B>PARTIES</B> shall submit themselves to the provisions of <B>CLAUSE THIRTY FOURTH</B>
of this <B>APP</B> for the resolution of controversies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The foregoing in the understanding
that whenever there is a disagreement between the <B>PARTIES</B> with respect to the payment estimate, the objected and the non-objected
portions of the payment shall be covered to the <B>DEVELOPER</B> at all times. Once the controversy is resolved, the corresponding
adjustments shall be carried out, in the understanding that if the <B>DEVELOPER</B> is not favored by the resolution of the controversy,
the amount covered in excess by <B>CEA </B>shall be reimbursed by the <B>DEVELOPER</B> plus a financial cost resulting from applying
to the amount paid in excess, interest at a TIIE rate + 200 annual BASE POINTS, counted as from the date of undue payment and until
three days following the date on which the resolution of the controversy is notified, with the understanding that as from the fourth
day, the amount paid in excess to be reimbursed shall cause late interest at a rate equivalent to TIIE +550 monthly BASE POINTS.
The foregoing with the understanding that the lack of reimbursement for more than 30 <B>CALENDAR DAYS</B> shall allow <B>CEA</B>
to retain the amount corresponding to the unpaid reimbursement in addition to its accessories in the next payment for the rendering
of the services subject-matter of this <B>APP</B>, subject to the previous notification in writing to the <B>DEVELOPER</B> with
an anticipation of 10 <B>BUSINESS DAYS</B> prior to the corresponding retention<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">4.</TD><TD STYLE="text-align: justify">Subject to the provisions of the <B>ADMINISTRATION TRUST</B>, the Trustee of the <B>ADMINISTRATION
TRUST</B> shall pay to the <B>DEVELOPER</B> every invoice referred to in this Clause.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">5.</TD><TD STYLE="text-align: justify">In the event that any of the tariffs to which the <B>DEVELOPER</B> is entitled is not paid in a
timely manner, pursuant to this clause, for causes exclusively attributable to <B>CEA</B>, the following shall be generated:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.1 A late interest equivalent to a rate
of TIIE + 550 monthly BASE POINTS, which shall be calculated daily until the complete payment of the debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.2. The application, by the <B>DEVELOPER</B>,
of the resources from the <B>CURRENT ACCOUNT LOAN</B>, for which it shall request the disposition thereof through the <B>ADMINISTRATION
TRUST</B>, which shall request the disposition within a term not to exceed 2 (two) <B>BUSINESS DAYS</B> following the date of receipt
of the request by the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.3 The right of the <B>DEVELOPER</B> to
suspend the <B>POTABLE WATER </B>supply in a unilateral and discretional manner, upon lapsing of 60 (sixty) <B>CALENDAR DAYS </B>as
from the date on which the <B>DEVELOPER</B> provides formal notice to <B>CEA</B> on the delay of the corresponding payment and
until the amounts owed are fully paid to its complete satisfaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.4 The right of the <B>DEVELOPER</B> to
oppose to any form or means that, directly or indirectly, imply the substitution of the service subject-matter of this agreement;
therefore the <B>DEVELOPER</B> shall be entitled to oppose to any juridical act of the Government of the State of Baja California
or of any of its <B>DESCENTRALIZED ENTITIES</B> or <B>CENTRALIZED AGENCIES</B>, which have as a goal or purpose to substitute the
services subject matter of this <B>APP</B>. The foregoing as the nature of this <B>APP</B> represents the means by which the Government
of the State of Baja California decides, to this date, the integral solution of the water supply to the benefited region.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> may not suspend, retain or exercise
the right to compensate in front of the <B>DEVELOPER</B> with respect to any payment that the <B>DEVELOPER</B> shall carry out
under this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FOURTEENTH. [INTENTIONALLY LEFT BLANK]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FIFTEENTH.- INTAKE WATER AVAILABILITY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> is obliged to obtain before
the competent authority and to maintain during the term of this <B>APP</B>, at the expense and benefit of <B>CEA</B>, the rights
required for the use and exploitation of the <B>INTAKE WATER</B>. <B>DEVELOPER</B>, thus <B>CEA</B> shall be the sole and exclusive
liable for the payment of the taxes, rights and/or contributions corresponding to the procurement and maintenance of such rights
of use and exploitations of the <B>INTAKE WATER</B>. The <B>DEVELOPER </B>agrees to assist <B>CEA</B> at all times, to obtain such
rights and to deliver the necessary documents and information to achieve such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall not have any
right over the <B>INTAKE WATER</B>, the <B>POTABLE WATER</B> and the <B>WASTE WATER, </B>before, during or after the potabilization
treatment for purposes different than the compliance of the <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certified copies of the authorizations
for the use of the volumes of <B>INTAKE WATER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> acknowledges and agrees that
it shall be responsible of obtaining and maintaining in full force and effect the concessions, licenses, permits and authorizations
that are exclusively required for the use of the <B>INTAKE WATER</B> volumes. Therefore, it releases the <B>DEVELOPER</B> from
any liability arising from any breach by the <B>DEVELOPER</B> to obligations established in this <B>APP,</B> arising from the breach
by <B>CEA</B> to maintain in full force and effect such concessions, licenses, permits and authorizations, as applicable, including
the payment of the corresponding taxes, rights and/or contributions. In the event that the ownership and force and effect of the
concessions, permits, licenses and authorizations that are exclusively required for the use of the <B>INTAKE WATER</B> are not
maintained by <B>CEA,</B> for causes attributable to it, and as result thereof <B>INTAKE WATER</B> cannot be extracted, <B>CEA</B>
shall pay the T1 and T2, as well as all the costs, damages and losses incurred by the <B>DEVELOPER</B> as a result of such breach
by <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On the other hand, in the event that the
ownership and force and effect of the concessions, licenses, permits and authorizations that are exclusively required for the use
of the <B>INTAKE WATER</B> volumes are not maintained by <B>CEA</B> fur to causes not attributable to it, and arising from such
it is impossible to collect the <B>INTAKE WATER</B>, without being the <B>PARTIES</B> able to mutually agree in writing a solution
to such event, it shall be considered that there was an occurrence of a <B>FORCE MAJEURE EVENT</B> and they shall proceed pursuant
to Clause Thirty Second of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SIXTEENTH. QUALITY AND QUANTITY OF THE
POTABLE WATER.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> is obliged to carry
out the design and <B>EXECUTIVE PROJECT</B> of the <B>SEAWATER DESALINATION PLANT</B> in order for the <B>POTABLE WATER</B> to
comply with the limits determined in the modified norm <B>NOM-127-SSA1-1994 </B>and in everything related to the total dissolved
solids, as provided in the <B>BASES OF THE PUBLIC BIDDING</B>. Likewise, it obliges itself to build the <B>SEAWATER DESALINATION
PLANT</B> and to use the technology offered in its <B>PROPOSAL</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As mentioned in <B>CLAUSE FIRST</B>, <B>CEA</B>
requires a volume of 65,910,240 (sixty five million, nine hundred and ten thousand, two hundred and forty) cubic meters of <B>POTABLE
WATER</B> per year equivalent to 2,200 (two thousand, two hundred) <B>LPS</B> with a 95% availability of the <B>SEAWATER DESALINATION
PLANT </B>capacity, during the first stage of the <B>PROJECT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>POTABLE WATER</B> that shall be
delivered by the <B>DEVELOPER </B>to <B>CEA</B> shall conform to the technical guidelines established in <B>EXHIBIT 14</B> of this
<B>APP</B>. The functioning of the <B>SEAWATER DESALINATION PLANT</B> shall be evaluated through real time monitoring in the established
frequencies, based in the quantity, quality of the water to be treated and quality of the <B>POTABLE WATER</B>, in accordance with
the methods, procedures and periodicity established in <B>EXHIBIT 5 </B>of this <B>APP</B>, and pursuant to the maximum permitted
values as provided in such exhibit. All documentation arising from the monitoring of the quality of the water shall be kept by
the <B>DEVELOPER</B> for a term of at least 5 (five) years, which shall be available at all times for <B>CEA</B> and shall be provided
to the latter within the 2 (two) <B>BUSINESS DAYS</B> following its request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA </B>shall provide to the <B>DEVELOPER</B>,
by the latest within the last 15 (fifteen) <B>BUSINESS DAYS</B> of each quarter (or at the latest during the last 15(fifteen) <B>BUSINESS
DAYS</B> prior to the commencement of the <B>TESTING PERIOD</B>) the required production volumes of <B>POTABLE WATER</B>, which
shall be established in terms of the <B>APP</B>, in the understanding that once that <B>CEA</B> has communicated to the <B>DEVELOPER
</B>the production volumes of <B>POTABLE WATER</B> that it shall require for the following quarter, <B>CEA </B>shall be obliged
to pay the T1 and T2 tariffs, as well as the T3 and T4 tariffs for such volumes irrespective of whether such are consumed or not.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that <B>CEA</B> requires greater
production volumes of <B>POTABLE WATER</B> than those previously notified to the <B>DEVELOPER</B> pursuant to the paragraph above,
it shall notify the <B>DEVELOPER</B> with at least 10 (ten) <B>BUSINESS DAYS</B> of anticipation to allow the latter to satisfy
the additional demand, which by no means shall exceed the corresponding volume, established in the First Clause of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>SEAWATER DESALINATION PLANT</B>
shall be designed and equipped in such a manner that the water therein processed shall not reach the <B>DELIVERY POINT</B> in the
event that it does not meet the applicable quality parameters, pursuant to the <B>PROPOSAL</B>, unless <B>CEA</B> requests so in
writing, in which event, the <B>DEVELOPER</B> shall be released from any liability for the breach of such quality parameters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EXHIBIT 18</B> shall establish the applicable
procedures to determine if water processed at the <B>SEAWATER DESALINATION PLANT</B> does not comply with the applicable quality
parameters and, in such event, the volume thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SEVENTEENTH. WATER MONITORING.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The functioning of the <B>SEAWATER DESALINATION
PLANT</B> shall be controlled by the monitoring of the quality of the <B>POTABLE WATER</B>, subject to the form and periodicity
of the respective control and registry established in <B>EXHIBIT 18</B> to measure the water quality and quantity, including of
the <B>INTAKE WATER</B>, the <B>POTABLE WATER</B> and the <B>WASTE WATER. </B>These regulations shall establish that, in the event
of a dispute over the water quality measurements made by <B>CEA</B> and the <B>DEVELOPER</B>, the mediation of an independent and
certified laboratory, selected by mutual agreement of the <B>PARTIES</B>, shall be requested and the result thereof shall prevail
to resolve such disagreement and shall be final and binding for the <B>PARTIES</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With the purpose of having a measurement
of the volume and quality of the <B>POTABLE WATER</B> and the <B>WASTE WATER</B>, but not for invoicing or availability purposes,
the <B>DEVELOPER</B> shall install measurement mechanisms in the sites of reception of <B>INTAKE WATER</B>, in the <B>DELIVERY
POINT</B> of <B>POTABLE WATER </B>and in the delivery point of the <B>WASTE WATER</B>. The specification of such mechanisms shall
be established in the measurement regulations referred to by the first paragraph of this <B>CLAUSE SEVENTEENTH.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>EIGHTEENTH.- ENVIRONMENTAL LAWS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> obliges itself to
comply, at all times, with the <B>APPLICABLE LAWS</B> in environmental matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Likewise and in the event of being mandatory
pursuant to the <B>APPLICABLE LAWS</B>, the <B>DEVELOPER</B> obliges itself to obtain the environmental impact authorizations,
both federal and state, as applicable, for which it shall carry out all the necessary procedures before the competent federal and
state authorities in environmental matters, as applicable<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of the foregoing, the <B>DEVELOPER</B>
obliges itself to comply with all the <B>APPLICABLE LAWS</B>, as well as with all the applicable and valid legal conditions and
legal requirements in environmental matters throughout the execution of the <B>PROJECT</B>, as provided in the corresponding environmental
impact authorizations, for the term of this <B>APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> may use the documents
and other information in possession of <B>CEA</B>; therefore, the latter shall aid the <B>DEVELOPER</B> in the delivery of the
corresponding documents and information, as well as in carrying out the environmental procedures required for the adequate rendering
of the services hired under this <B>APP. </B>Simple copies of the <B>ENVIRONMENTAL IMPACT STATEMENT (MIA)</B> and the environmental
impact authorizations shall be attached hereto as <B>EXHIBIT 16</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall only be responsible
for the infrastructure of the <B>PROJECT</B>, including its maintenance and operation for the term of this <B>APP</B>. That is,
the <B>DEVELOPER</B> shall be solely responsible for (i) the infrastructure for <B>COLLECTION</B> of <B>INTAKE WATER</B>, (ii)
the <B>SEAWATER DESALINATION PLANT</B>, (iii) the infrastructure for the conduction of <B>POTABLE WATER</B> until the <B>DELIVERY
POINT</B>, (iv) the quality of the <B>WASTE WATER</B> and (v) the handling of its hazardous and special management wastes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Tank 3 and the hydraulic infrastructure
of the <B>PROJECT</B> or the related infrastructure that has not been mentioned in the previous sections, shall be of the exclusive
responsibility of <B>CEA</B>, <B>CESPT</B> or whomever results its owner. Any environmental liability arising from the <B>PROJECT</B>,
once the <B>SYSTEM</B> has been delivered to <B>CEA</B> pursuant to this <B>APP</B>, shall correspond exclusively to <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NINETEENTH. WASTE WATER.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior procurement of the corresponding
discharge permit, the <B>DEVELOPER </B>shall be responsible of establishing the treatment, disposal and location of the places
in which the volumes considered as <B>WASTE WATER</B>, resulting from the treatment of the <B>INTAKE WATER</B>, shall be deposited,
complying with the conditions established for such purpose by <B>SEMARNAT</B> as a result of the review of the content of the <B>ENVIRONMENTAL
IMPACT STATEMENT</B> that, in its moment, shall be prepared by the <B>DEVELOPER</B> to obtain the corresponding environmental impact
authorizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be responsible
of complying with the Mexican Official Standards, and in absence thereof, with the International Standards or, if applicable, the
reference norms which result applicable to any of its obligations pursuant to articles 55 and 67 of the Federal Law of Metrology
and Normalization under this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWENTIETH.- CONTRIBUTIONS AND PENALTIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> obliges itself to
payment of the applicable federal, state and municipality contributions in effect levied at its charge and which encumber the rendering
of the services referred in this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of modifications to the <B>APPLICABLE
LAWS</B> in tax matters that affect the rendering of these services, such shall be considered as <B>CHANGES IN LAW,</B> and the
impact of the variations in such contributions shall be reflected in the monthly tariffs that <B>CEA</B> is obliged to pay to the
<B>DEVELOPER</B> for the operation, equipment replacement, conservation and maintenance of the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The determination, calculation and payment
of the tax contributions, including without limitation, any tax, duty, benefit, product or any other tax lien, including fines,
surcharges, actualizations or execution expenses of the <B>PROJECT</B>, shall be in charge of the subject of the corresponding
tax or contribution, pursuant to the legal provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When due to causes attributable to the
<B>DEVELOPER</B> the <B>POTABLE WATER</B> does not comply with the applicable standards provided herein, the <B>DEVELOPER</B> shall
pay the amount of the penalties that, if applicable, are imposed by the competent <B>GOVERNMENTAL AUTHORITY</B> pursuant to the
<B>APPLICABLE LAWS</B> for such causes throughout the term of the <B>APP</B>, regardless of the applicable conventional penalties
in charge of the <B>DEVELOPER</B> in terms of this <B>APP </B>and in favor of <B>CEA.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWENTY FIRST. INDUSTRIAL AND INTELLECTUAL
PROPERTY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> obliges itself not to use, for
any purposes other than those related to this <B>APP</B>, all the generated documentation and to preserve and cause to be preserved
the rights of the <B>DEVELOPER </B>over its technology for the potabilization of water and its techniques employed in the operation
process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon expiration of the term of this <B>APP</B>,
the <B>DEVELOPER</B> obliges itself to transfer in favor of <B>CEA</B> the rights of use over the industrial and intellectual property,
and the patents implying the technology, units and permanently installed equipment used in the potabilization treatment of the
water with respect to which the <B>DEVELOPER</B> is entitled to do so with everything that by fact of by law corresponds to it
or is required for <B>CEA</B> to adequately operate the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The mentioned units, technologies and equipment
shall be maintained in a perfect state and functionality, verifying that they have been given the use for which they were acquired,
or supplied, being the <B>DEVELOPER</B> obliged to evidence the status of conservation, the repairs, replacements and technological
updates carried out under the corresponding and timely authorizations, as well as their application, by means of the corresponding
documentation. The delivered units, technologies and equipment shall be evaluated by mutual agreement of the <B>PARTIES</B> and
shall function correctly, considering their useful life and ordinary wear and tear.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWENTY SECOND.- LOGBOOK.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> and <B>CEA</B>, the
latter through the <B>SUPERVISION,</B> are obliged to maintain in order and up-to-date a <B>LOGBOOK</B> of the <B>WORKS</B> corresponding
to the construction of the <B>SYSTEM</B>, during the <B>INVESTMENT PERIOD</B>, which shall comply with the provisions of article
107 section V of the <B>RLAPPEBC</B> and, afterwards, for the activities of operation and maintenance during the <B>OPERATION PERIOD</B>,
having to be executed by the <B>PARTIES</B> at the commencement of the <B>WORKS</B> and every time that it is necessary; every
order or observation made by <B>CEA</B> through the <B>WORKS RESIDENT</B> shall be registered in the <B>LOGBOOK</B> and executed
by whomever formulated it, by whomever received it and by whomever executed it on behalf of the <B>DEVELOPER</B>, for purposes
of delimitating liabilities at all times.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWENTY THIRD.- SUPERVISION AND INSPECTION
OF THE WORKS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA </B>shall at all times have, by
itself and through the <B>SUPERVISION</B>, the authority to verify the strict compliance by the <B>DEVELOPER</B> of the planning,
design preparation, <B>EXECUTIVE PROJECT</B>, construction and equipment of the <B>SYSTEM</B> works, the preparation and delivery
of the protocol of <B>TESTS</B> and <B>SET-UP OF OPERATIONS</B> and of the <B>QUALITY ASSURANCE HANDBOOK</B>, as well as all the
terms contained in the <B>CALENDARED SCHEDULE</B>. In addition, <B>CEA</B> shall verify during the term of this <B>APP</B>, that
the operation of the <B>SYSTEM</B> is carried out pursuant to the technical criteria and standards set forth for the compliance
of the subject-matter of this <B>APP</B>. Likewise, <B>CEA</B> shall verify that the maintenance, conservation and replacement
of the equipment and other assets integrating the <B>SYSTEM</B> are made in an efficient and timely manner that allows the proper
functioning thereof, pursuant to the operation handbooks prepared by the <B>DEVELOPER</B> and authorized by <B>CEA </B>for the
operation and maintenance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to the foregoing, the <B>DEVELOPER</B>
is obliged to grant all the facilities to the personnel designed for such purposes by <B>CEA</B>, as well as to deliver the reports,
documents and data required to it, within the periods previously agreed in writing by the <B>DEVELOPER</B> and <B>CEA.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The supervision of the execution of the
works and services subject matter of this <B>APP</B> shall be in charge of the <B>SUPERVISION </B>throughout the construction works
of the <B>SYSTEM</B>, and the costs related to such task shall be of 2% (two per cent), which is included in the <B>TOTAL COST
OF THE SYSTEM</B>; therefore, the supervision works throughout the construction of the <B>SYSTEM</B> shall be invoiced by the <B>SUPERVISION</B>
to the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWENTY FOURTH.- MINUTES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF COMMENCEMENT OF THE APP.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Once the conditions for the <B>APP
EFFECTIVENESS COMMENCEMENT </B>established in clause <B>FORTY FOURTH</B> of this <B>APP</B> have been complied, the <B>MINUTES
OF COMMENCEMENT OF THE APP</B> shall be executed, which date shall mark the commencement of the <B>INVESTMENT PERIOD</B> of the
first stage of the <B>PROJECT</B>. Except for the provisions of Clause Fourth, section 1 item (a) of this <B>APP</B>, on the date
of execution of these Minutes, the preparation of the <B>EXECUTIVE PROJECTS</B> shall commence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF ACCEPTANCE OF THE EXECUTIVE PROJECT.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the preparation of the
<B>EXECUTIVE PROJECT,</B> either a single minutes for the entirety of the <B>EXECUTIVE PROJECT</B> or, if applicable, several partial
minutes may be prepared, in which the termination of the <B>EXECUTIVE PROJECT</B> or its corresponding partialities is evidenced.
These minutes shall be prepared by the <B>SUPERVISION</B>, and executed by the <B>DEVELOPER</B> and <B>CEA</B> and shall have as
single purpose evidencing the <B>NON-OBJECTION </B>by <B>CEA</B> of the <B>EXECUTIVE PROJECT</B> or, if applicable, of each of
its partialities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that the minutes
of acceptance of the <B>EXECUTIVE PROJECT</B> or of its partial deliveries are not prepared, the <B>NON-OBJECTION</B> seals or,
if applicable, the lapsing of the corresponding term for the implied affirmative, shall be sufficient pursuant to the provisions
of <B>CLAUSE FOURTH</B> of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>3.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF COMMENCEMENT OF CONSTRUCTION.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These minutes shall be prepared
by the <B>DEVELOPER, </B>shall be duly executed by its legal representative, shall establish the <B>DATE OF COMMENCEMENT OF CONSTRUCTION</B>
of the first stage of the <B>PROJECT</B> and shall be delivered to <B>CEA</B>, provided that the <B>DEVELOPER</B> has obtained
the corresponding environmental impact authorization, and once <B>CEA</B> with the participation of the <B>SUPERVISION</B>, has
granted the <B>NON-OBJECTION, </B>whether expressly or implied of the <B>EXECUTIVE PROJECT </B>in its entirety or in its corresponding
partialities. The date of execution of these minutes shall determine the <B>DATE OF COMMENCEMENT OF CONSTRUCTION</B> of the first
stage of the <B>PROJECT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that the <B>DEVELOPER</B>,
for causes exclusively attributable to it, does not comply with the paragraph above, it shall inform such circumstance in writing
to <B>CEA</B>, indicating the term and conditions requested for such purposes. This extension may not be enforced to change the
programmed date of issuance and execution of the <B>MINUTES OF TERMINATION OF CONSTRUCTION</B>, except for justified causes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If the <B>DEVELOPER</B> states
and provides evidence to <B>CEA</B> that the causes for which this document is not issued are not exclusively attributable to it
or are the result of an <B>ACT OF GOD, FORCE MAJEURE EVENT</B> or <B>CHANGE IN LAW</B>, it shall do so in writing, indicating the
term and conditions requested to comply with the <B>CALENDARED SCHEDULE</B>. <B>CEA</B> may agree to the extension of the term
requested by the <B>DEVELOPER</B> and shall make the corresponding adjustments to the <B>CALENDARED SCHEDULE</B>, with no liability
for the <B>DEVELOPER</B>. In such events, or in the event that the <B>DEVELOPER</B> is impeded from issuing the <B>MINUTES OF COMMENCEMENT
OF CONSTRUCTION</B> for causes attributable to <B>CEA</B>, the latter shall pay to the <B>DEVELOPER</B> the duly documented costs
and expenses, including without limitation, the costs related to the risk capital and loan, in which the <B>DEVELOPER </B>incurs
due to the delay in the execution of these Minutes and, therefore, due to the delay in the construction stage of the <B>PROJECT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>4.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF TERMINATION OF CONSTRUCTION.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">When the premises of the first
stage of the <B>PROJECT</B> are concluded from the construction stand point, evidence thereof shall be made through the issuance
and execution of the <B>MINUTES OF TERMINATION OF CONSTRUCTION</B>, which shall be prepared by the <B>DEVELOPER</B> and shall be
executed with the knowledge and verification of the <B>SUPERVISION </B>(considering the monthly estimates in the advance of the
<B>PROJECT WORKS</B>), that the <B>PROJECT WORKS</B> corresponding to the first stage of the <B>PROJECT</B> comply with the requirements
established in the <B>EXECUTIVE PROJECT</B>. <B>CEA</B> shall have 3 (three) <B>BUSINESS DAYS</B> to verify the termination of
100% (one hundred percent) of the construction of the <B>SYSTEM</B>, counted as from the moment in which the <B>DEVELOPER</B> notifies
in writing to <B>CEA</B> the termination of the construction works. In the event that upon lapsing of this term, <B>CEA</B> does
not make any observations in writing, the <B>DEVELOPER</B> shall be in charge of preparing the <B>MINUTES OF TERMINATION OF CONSTRUCTION</B>,
considering such as accepted by <B>CEA</B> without further requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The <B>PARTIES</B> agree that
the <B>DEVELOPER</B> may issue <B>MINUTES OF PARTIAL TERMINATION OF CONSTRUCTION</B> for certain parts, components or subsystems
of the <B>SYSTEM</B>. In such event, irrespective of the issuance of the <B>PARTIAL MINUTES OF TERMINATION OF THE CONSTRUCTION</B>,
the <B>DEVELOPER</B>, shall prepare the <B>MINUTES OF TERMINATION OF THE CONSTRUCTION</B> for the entirety of the <B>PROJECT WORKS</B>,
pursuant to this Clause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>CEA</B>, the <B>DEVELOPER
</B>or the <B>SUPERVISION</B> may evidence in the minutes, observations relating to items pending construction whose termination
does not affect the commencement of the <B>TESTS</B> or the <B>PRODUCTION CAPACITY</B>, as well as the term for their correction,
evidencing upon its expiration, the conclusion of such pending items through minutes of release of pending items.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>CEA</B> shall not execute
the <B>MINUTES OF TERMINATION OF CONSTRUCTION</B> when it reasonably and justifiably evidences that any of the <B>PROJECT WORKS</B>
or equipment corresponding to the first stage of the <B>PROJECT </B>have not been made in accordance with the terms of this <B>APP</B>
and its Exhibits, or when due to their conditions it is impossible to carry out the corresponding <B>TESTS</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The <B>PARTIES</B> acknowledge
and agree that the <B>INVESTMENT PERIOD</B> shall be automatically extended without liability to the <B>DEVELOPER</B>, during the
time (i) corresponding to the necessary term to obtain the authorization of <B>CEA</B> and the <B>SUPERVISION</B>, in the event
that there are no observations of <B>CEA</B> and/or the <B>SUPERVISION</B> to the <B>MINUTES OF TERMINATION OF THE CONSTRUCTION</B>
or if applicable, to its partialities; (ii) takes to <B>CEA</B> and/or the <B>SUPERVISION</B> to issue observations to the <B>MINUTES
OF TERMINATION OF THE CONSTRUCTION</B>, or if applicable, to its partialities; (iii) required by the <B>DEVELOPER</B> to carry
out the adjustments to the <B>MINUTES OF TERMINATION OF THE CONSTRUCTION</B>, or if applicable, to its partialities, that it deems
applicable based on the observations of <B>CEA</B> and/or the <B>SUPERVISION</B>; and (iv) needed to verify the conditions in which
the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B> shall be issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>5.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF CAPACITY.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The <B>DEVELOPER</B> shall carry
out the <B>TESTS</B> during the <B>TESTING PERIOD</B>, in accordance with the norms and specifications of the <B>TESTS</B> and
<B>SET-UP OF OPERATIONS</B> of the <B>SYSTEM</B> prepared by the <B>DEVELOPER</B>, which shall be attached hereto as <B>Exhibit
7. </B>Upon conclusion of the <B>TESTS </B>with satisfactory results, the <B>DEVELOPER</B> shall proceed to prepare the <B>MINUTES
OF CAPACITY</B>, which shall be reviewed by the <B>SUPERVISION</B> in a term of 5 (five) <B>BUSINESS DAYS</B>. Upon the satisfactory
conclusion of the review, the <B>MINUTES OF CAPACITY</B> shall be submitted to <B>CEA</B> for its execution. The <B>MINUTES OF
CAPACITY</B> shall evidence that the <B>SYSTEM</B> complies with the <B>PRODUCTION CAPACITY </B>established for the release of
the <B>CONSTRUCTION GUARANTEE </B>referred to in <B>CLAUSE TWENTY EIGHTH </B>of this <B>APP</B>. <B>CEA</B> shall have 5 (five)
<B>BUSINESS DAYS</B> to verify the satisfactory conclusion of the <B>TESTS</B>, counted as from the date on which the <B>DEVELOPER</B>
delivers the <B>MINUTES OF CAPACITY</B> to the <B>SUPERVISION</B>. In the event that, upon conclusion of such term, <B>CEA</B>
does not make any observation in writing, the <B>MINUTES OF CAPACITY</B> shall be considered as accepted by the <B>SUPERVISION</B>
and <B>CEA </B>and, therefore, the <B>CONSTRUCTION GUARANTEE</B> shall be released, without the need of any further requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that the <B>SYSTEM</B>
does not comply with the <B>PRODUCTION CAPACITY</B> within the <B>INVESTMENT PERIOD</B> and that implies a delay in the issuance
of the <B>MINUTES OF COMMENCEMENT OF OPERATION</B> or an actual delay in the <B>OPERATION PERIOD</B>, the conventional penalty
provided in section 3 of <B>CLAUSE THIRTY FIFTH</B> of this <B>APP </B>shall be applicable. Notwithstanding, the <B>DEVELOPER</B>
may request an additional term to carry out the necessary modifications and obtain the <B>PRODUCTION CAPACITY</B>, being obliged
to maintain the effectiveness of the <B>CONSTRUCTION GUARANTEE</B> during the term granted by <B>CEA</B> until a term of no more
than 10 (ten) <B>CALENDAR DAYS</B>. The maximum term during which the <B>DEVELOPER</B> may carry out the corresponding corrections
shall be of 10 (ten) <B>BUSINESS DAYS</B>, following the 2 (two) months of construction and <B>TESTS</B> originally established
for the commencement of operation of the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Irrespective of the compliance
or non-compliance with the <B>PRODUCTION CAPACITY</B> by the <B>DEVELOPER</B> and whether or not the <B>MINUTES OF CAPACITY</B>
and/or <B>MINUTES OF COMMENCEMENT OF OPERATION </B>are issued, <B>CEA</B> shall pay for the received <B>POTABLE WATER</B> until
compliance with the <B>PRODUCTION OF CAPACITY</B> is achieved and the <B>MINUTES OF CAPACITY</B> and the <B>MINUTES OF COMMENCEMENT
OF OPERATION</B> are issued. Likewise, notwithstanding that the <B>DEVELOPER</B> is granted an additional term for compliance of
the <B>PRODUCTION CAPACITY</B>, <B>CEA</B> obliges itself to commence payments corresponding to the T1 tariff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If, on the date on which the
<B>DEVELOPER</B> notifies to <B>CEA</B> of the commencement of the <B>TESTING PERIOD</B>, <B>CEA </B>has not maintained, for causes
outside of its will, the rights for the use and exploitation of the <B>INTAKE WATER</B>, in its favor and for the use by the <B>DEVELOPER</B>
pursuant to this <B>APP</B> the conventional penalties shall not be applicable to the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>6.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF COMMENCEMENT OF OPERATION.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Document that shall be prepared
by the <B>DEVELOPER</B>, reviewed by the <B>SUPERVISION</B> and submitted to the consideration of <B>CEA</B> one day after the
execution of the <B>MINUTES OF CAPACITY</B>, by virtue of which the <B>DEVELOPER</B> may commence the <B>OPERATION PERIOD</B> of
the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Once the <B>DEVELOPER</B> has
delivered the <B>OPERATION GUARANTEE</B> to <B>CEA</B>, <B>CEA</B> shall be obliged to, immediately, return the <B>CONSTRUCTION
GUARANTEE</B> and to issue the <B>MINUTES OF COMMENCEMENT OF OPERATION</B>. Upon execution of these minutes, the <B>OPERATION PERIOD</B>
and the payments corresponding to the <B>CONSIDERATION</B> shall commence, pursuant the specifications of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">If for causes exclusively attributable
to the <B>DEVELOPER</B>, the <B>MINUTES OF COMMENCEMENT OF OPERATION</B> are not issued, and no additional term pursuant to the
following paragraph is granted, the payment of the conventional penalties referred in section 3 of <B>CLAUSE THIRTY FIFTH</B> shall
be applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that the <B>DEVELOPER</B>
had requested and obtained an additional term for the execution of the <B>MINUTES OF CAPACITY</B>, the <B>OPERATION PERIOD</B>
shall be extended for the same additional term granted. Likewise, notwithstanding that the <B>DEVELOPER </B>has been granted an
additional term for compliance of the <B>PRODUCTION CAPACITY</B>, <B>CEA</B> obliges itself to begin the payments corresponding
to the <B>T1</B> tariff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that the <B>DATE
OF COMMENCEMENT OF OPERATIONS</B> occurs after the 37<SUP>th</SUP> (thirty seventh) month counted as from the <B>APP EFFECTIVENESS
COMMENCEMENT, </B>due to causes attributable to <B>CEA</B>, the execution of additional works, a <B>CHANGE IN LAW</B>, an <B>ACT
OF GOD </B>or <B>FORCE MAJEURE EVENT</B>, or due to any other circumstance that pursuant to the terms of this <B>APP</B>, entitles
the <B>DEVELOPER</B> to the extension of the <B>INVESTMENT PERIOD</B>, the <B>DATE OF COMMENCEMENT OF OPERATIONS</B> shall be extended
for a term equivalent to the delay due to the foregoing causes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>7.</B></TD><TD STYLE="text-align: justify"><B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upon conclusion of the <B>OPERATION
PERIOD</B>, within the 5 (five) <B>BUSINESS DAYS</B> following the date on which the termination of the <B>APP</B> proceeds, and
once the <B>DEVELOPER</B> has delivered to <B>CEA </B>the <B>APP TERMINATION GUARANTEE</B>, in accordance with the terms hereof,
<B>CEA </B>shall return the <B>OPERATION GUARANTEE</B> and the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY</B>
shall be jointly prepared by the <B>DEVELOPER </B>and <B>CEA,</B> evidencing the <B>DELIVERY</B> of the <B>SYSTEM</B> and its operation,
with all the assets that comprise it, gratuitously and with no lien whatsoever, as well as of the real estate in which the <B>SEAWATER
DESALINATION PLANT</B> and other facilities of the <B>SYSTEM </B>are located<B>, </B>mentioning the ordinary functioning conditions
in which the <B>SYSTEM</B> is received, pursuant to the provisions of <B>CLAUSE TWENTY FIFTH</B> of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">With the issuance and execution
of these minutes, the effects of the <B>APP</B> terminate and the release of the <B>OPERATION GUARANTEE</B> referred to in <B>CLAUSE
TWENTY EIGHTH</B> of this <B>APP </B>is viable, provided that the <B>DEVELOPER</B> has delivered to <B>CEA</B> the <B>APP TERMINATION
GUARANTEE</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the time that it takes
to carry out the <B>DELIVERY</B> of the <B>SYSTEM</B>, the <B>DEVELOPER</B> shall not be obliged to operate and/or maintain the
<B>SEAWATER DESALINATION PLANT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>TWENTY FIFTH.- CONDITIONS
FOR THE DELIVERY OF THE SYSTEM.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Within a term of 6 (six) months
prior to the termination of the <B>OPERATION PERIOD</B>, the <B>DEVELOPER </B>shall verify the abilities of the personnel of <B>CEA</B>,
to take over the operation of the <B>SEAWATER DESALINATION PLANT</B> or for the events of contingencies, obliging itself to update
or, if applicable, train the personnel designated and placed at its disposal by <B>CEA</B>, as mutually agreed with the <B>DEVELOPER</B>
and paying, the latter, the costs of such training, in the understanding that the <B>DEVELOPER</B> shall be responsible for the
operation of the <B>SYSTEM</B> until the expiration of the term of this <B>APP</B> and the execution of the <B>MINUTES OF TERMINATION
OF THE APP AND DEFINITIVE DELIVERY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upon conclusion of the <B>OPERATION
PERIOD</B>, in terms of <B>CLAUSE SECOND</B> of this <B>APP</B>, the <B>DEVELOPER</B> is obliged to perform the <B>DELIVERY</B>
of the <B>SYSTEM</B> to <B>CEA</B>, in optimal conditions of operation and functionality considering the normal wear that it should
have from the time of use and with a residual useful life of at least 5 (five) years, pursuant to the provisions of this <B>CLAUSE
TWENTY FIFTH</B> and <B>EXHIBIT 17</B>. Regardless of this <B>APP</B> or the <B>BASES OF THE PUBLIC BIDDING</B>, the obligation
of the <B>DEVELOPER</B> provided in this paragraph shall be subject to (i) the <B>OPERATION AND MAINTENANCE </B>of the <B>SYSTEM</B>
being carried out in accordance with the handbooks provided by the <B>DEVELOPER</B>; (ii) the necessary supplies and works for
the repair and maintenance of the <B>SYSTEM </B>shall be provided by the <B>DEVELOPER</B> and paid timely by <B>CEA</B>; and, if
applicable, (iii) the damages and flaws inflicted to the <B>SYSTEM</B>, the works or any other component of the <B>PLANT</B> are
not attributable to third parties, including personnel of <B>CEA</B>, or the result of an <B>ACT OF GOD</B> or a <B>FORCE MAJEURE
EVENT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The <B>DELIVERY</B> of the <B>SYSTEM</B>
shall be at no cost, free of any liens and prior inventory technically valued by both <B>PARTIES</B>, with respect to the useful
life of its components, works, equipment and facilities, machinery, tools and other assets and rights comprising it, as well as
the corresponding operation, conservation and maintenance handbooks, preparing to that effect, the <B>MINUTES OF TERMINATION OF
APP AND DEFINITIVE DELIVERY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upon termination of the <B>OPERATION
PERIOD</B>, the <B>DEVELOPER</B> shall provide all the necessary consumption materials for 90 (ninety) <B>CALENDAR DAYS</B>, including
lubricants, chemical substances and laboratory, offices and processes articles to allow the continuous and uninterrupted operation
of the <B>SYSTEM</B> by <B>CEA</B>. Likewise, it shall provide the necessary fuel to cover at least one contingency of the <B>CONTINGENCIES
OR SAFEKEEPING ACTIONS PLAN</B> according to the components of the works, quantities and qualities stated in its list of materials
and supplies established in the <B>PROPOSAL</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Likewise, the <B>DEVELOPER</B>
obliges itself to provide the necessary equipment and spare parts to guarantee the operation of the <B>SYSTEM</B> during the 6
(six) months following the date of issuance of the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY</B>, pursuant to
a maintenance program agreed between the <B>DEVELOPER </B>and <B>CEA.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upon termination of this <B>APP</B>
and during the 6 (six) months following the execution of the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY</B>,
<B>CEA</B> reserves its right to claim to the <B>DEVELOPER</B> any liability in which the latter had incurred in the terms of this
<B>APP</B>, for hidden defects, flaws or deficiencies in the operation, conservation, maintenance and replacement of the equipment
of the <B>SYSTEM</B>. Upon conclusion of such term, the <B>DEVELOPER</B> shall no longer have any liability for hidden defects,
flaws or deficiencies in the operation, conservation, maintenance and replacement of the equipment of the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upon conclusion of the <B>OPERATION
PERIOD</B>, the <B>DEVELOPER</B> shall only have rights over the assets that it had acquired at its own expense, and which are
not directly destined to the operation and maintenance of the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Upon conclusion of the <B>OPERATION
PERIOD</B>, the <B>DEVELOPER</B> shall carry out the <B>DELIVERY</B> of the <B>SYSTEM</B> and its operation to <B>CEA</B>, pursuant
to the procedure and conditions provided in <B>EXHIBIT 17: Procedure of delivery of the SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As from the moment of execution
of this <B>APP</B>, the <B>DEVELOPER</B> grants its express and irrevocable consent for purposes of having <B>CEA</B> taking possession
of the <B>SYSTEM</B> at the termination of the <B>APP</B>, pursuant to the procedure established in <B>EXHIBIT 17.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>TWENTY SIXTH.- [INTENTIONALLY
LEFT BLANK].</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>TWENTY SEVENTH.- INSURANCES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The <B>DEVELOPER</B> shall be
liable for the damages and losses that may be caused in the person and assets of third parties or <B>CEA</B>, as a result of the
construction, equipment and <B>SET-UP OF OPERATIONS</B> of the <B>PROJECT</B>, as well as during the operation, conservation, replacement
of equipment and maintenance of the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">To cover this liability, the
<B>DEVELOPER</B> shall hire and maintain in full force and effect the following insurances:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The <B>DEVELOPER</B> shall, at its own expense, insure the <B>WORKS</B> and assets subject matter
of this <B>APP</B> with a damages insurance for structures, works, materials or equipment, caused by its activities or those of
its contractors and shall repair or replace any damaged structure, work, material or equipment, to the satisfaction of <B>CEA</B>,
solely with respect to the sufficiency of the coverage of the insurance or insurances, as provided in the <B>PROPOSAL</B>, as well
as of civil liability damages to third parties, during the <B>INVESTMENT PERIOD</B> which includes, but is not limited to, the
concepts of losses caused due to damages to structures, partial or complete destruction by fire, lightning, earthquakes, vandalism
or any other similar risk, whether or not caused by <B>FORCE MAJEURE EVENT</B>. This insurance shall cover damages for risks as
from the date of execution of the <B>MINUTES OF COMMENCEMENT OF CONSTRUCTION</B> until the execution of the <B>MINUTES OF COMMENCEMENT
OF OPERATION</B>, date on which the broad coverage insurance mentioned in section 2 below shall commence its validity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The amount of coverage of this
insurance may not be less than 20% of the amount of the works executed and shall be applied solely to compensate the damage covered
by such insurance and for which it was hired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The trustee of the <B>ADMINISTRATION
TRUST</B> shall be the beneficiary of this insurance, to whom the <B>PARTIES</B> shall oblige to contribute the amount of the indemnifications
received for the execution of this insurance, the repairmen of the caused damages and the replacement of the affected equipment,
when necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The <B>DEVELOPER</B> shall deliver
to <B>CEA</B> a copy of the evidence of hiring this insurance, within the 30 (thirty) <B>BUSINESS DAYS</B> following the date of
execution of the <B>MINUTES OF COMMENCEMENT OF CONSTRUCTION</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The <B>DEVELOPER</B> is obliged to hire, at its own expense, an insurance of broad coverage, to
insure all the components of the <B>SYSTEM</B> during the <B>OPERATION PERIOD</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The <B>DEVELOPER</B> shall deliver
to <B>CEA</B> the evidence of hiring this insurance, within the 30 (thirty) <B>BUSINESS DAYS</B> following the date of execution
of the <B>MINUTES OF COMMENCEMENT OF OPERATION</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The amount of this insurance
shall be applied solely to repair the covered damage and for which it was hired. The beneficiary of this insurance shall be the
trustee of the <B>ADMINISTRATION TRUST</B>; being the trustee obliged to deliver the amount of the indemnifications received for
the execution of this insurance, the repairmen of the caused damages and the replacement of the affected equipment, when necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All the insurances shall be granted by
insurance companies duly registered before the <B>SHCP</B>, and without the existence of a relationship between them and the <B>DEVELOPER,
</B>being obliged the <B>DEVELOPER</B> to cover the amount of the corresponding deductibles, except when the accident is attributable
to <B>CEA</B>. The non-compliance or omission in the hiring the mentioned insurances, by the <B>DEVELOPER</B> shall be considered
a breach of the <B>APP </B>and, consequently, a cause for rescission, unless such are consequence of any event outside the control
of the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost of the insurance policies shall
be paid directly by the <B>DEVELOPER</B> to the insurance company, and the <B>DEVELOPER</B> shall deliver the payment receipts
of the policies in full force and effect and the documentation evidencing the coverage and value of the policies to <B>CEA</B>.
Likewise, the hiring and renewal of the insurance policies shall be obtained and fully paid by the <B>DEVELOPER</B> within the
term established in the insurance policy or policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In every insurance, the waiver by the insurance
companies to all their rights of subrogation and any claim against <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWENTY EIGHTH.- GUARANTEES PROVIDED
BY THE DEVELOPER.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>I.</B></TD><TD STYLE="text-align: justify"><B>GUARANTEES OF THE DEVELOPER</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To guarantee the compliance of the obligations
of the <B>DEVELOPER</B> in terms of this <B>APP</B>, the <B>DEVELOPER</B> shall deliver to <B>CEA</B> the following bonds:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>CONSTRUCTION GUARANTEE</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">To ensure compliance of its obligations
arising from the <B>APP</B> in connection with the preparation of the <B>EXECUTIVE PROJECT</B>, construction and <B>TESTS</B> of
the <B>SYSTEM</B>, the <B>DEVELOPER</B> shall deliver to <B>CEA</B>, within the 30 (thirty) <B>BUSINESS DAYS</B> following the
<B>APP EFFECTIVENESS COMMENCEMENT</B>, a guarantee in favor of <B>CEA</B> through a bond policy, for a value equivalent to the
10% (ten percent) of the <B>COST OF THE SYSTEM</B> corresponding to the first stage of the <B>PROJECT </B>stated in its <B>PROPOSAL</B>.
This amount shall be updated annually, based on the <B>INPC</B> of the date on which the corresponding policy is issued, effective
as from the execution date of the <B>MINUTES OF COMMENCEMENT OF APP</B> until the <B>DATE OF COMMENCEMENT OF OPERATION</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that there is any
extension to the dates of the <B>CALENDARED SCHEDULE</B> of <B>MILESTONES</B> for causes exclusively attributable to the <B>DEVELOPER</B>,
the latter shall extend the term of the issued bond for the term of such extension, in such a manner that the <B>CONSTRUCTION GUARANTEE</B>
is valid throughout the required terms and amounts. The <B>DEVELOPER</B> shall evidence the extension of term of the bond to <B>CEA</B>
with at least 5 (five) <B>BUSINESS DAYS</B> prior to the initial expiration. The non-compliance by the <B>DEVELOPER</B> to obtain
the extension of the term of the <B>CONSTRUCTION GUARANTEE</B> as established in this <B>APP</B>, shall be a cause of rescission
of this <B>APP</B>, provided that the <B>DEVELOPER</B> does not remedy such situation within a term of 30 (thirty) <B>BUSSINESS
DAYS</B> following the notification to that effect made by <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">This guarantee shall be payable
at the payment requirement made by <B>CEA</B> and/or <B>SPF </B>to the issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The hiring of this bond shall
be done pursuant to the model used for such purposes by the bond company granting it to the <B>DEVELOPER</B> and approved by the
<B>SPF</B>, but the policy shall include the following within its conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">The term of the policy shall be annual and of automatic renewal, without the need of an express
statement from its contractor or of its beneficiary, commence on the date of its issuance and concluding on the <B>DATE OF COMMENCEMENT
OF OPERATION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">The bond shall be enforced upon rescission due to causes exclusively attributable to the <B>DEVELOPER</B>,
in terms of <B>CLAUSE THIRTY FIRST</B> or when the <B>DEVELOPER</B> does not comply with the payment of the corresponding conventional
penalty referred to in <B>CLAUSE THIRTY FIFTH</B> of this <B>APP</B>, within the term therein established for such purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">To enforce the bond in the events referred to in the previous section, the written requirement
of <B>CEA</B> and/or the <B>SPF</B> to the bond company shall be necessary, in which documental evidence states and evidences that
the rescission of the <B>APP</B> has been made effective for causes exclusively attributable to the <B>DEVELOPER</B> and that the
corresponding procedure described in <B>CLAUSE THIRTY FIRST</B> of this <B>APP</B> has been complied or, if applicable, that the
term, and applicable extension, for the payment of the corresponding conventional penalty mentioned in <B>CLAUSE THIRTY FIFTH</B>
of this <B>APP</B> has lapsed, without the <B>DEVELOPER</B> having paid it or remedied such circumstance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">The bond company shall cover the amount resulting in charge of the <B>DEVELOPER,</B> in terms of
such <B>CLAUSE THIRTY FIRST</B> of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>OPERATION GUARANTEE.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">To ensure compliance of its
obligations arising from the <B>APP</B> in connection with the operation and maintenance of the <B>SYSTEM</B> during the <B>OPERATION
PERIOD</B>, the <B>DEVELOPER</B> shall deliver to <B>CEA</B>, before the <B>DATE OF COMMENCEMENT OF OPERATION</B>, a guarantee
in favor of <B>CEA</B> through a bond policy, for a value equivalent to the 10% (ten percent) of the amount of the yearly payment
in <B>PESOS</B> of the <B>CONSIDERATION </B>in effect at that moment for the portion corresponding to the T2 + (T3 X Q) tariffs,
considering as base the last invoice paid to the <B>DEVELOPER</B>, or during the first year of the <B>OPERATION PERIOD</B>, the
amount corresponding to the production volume communicated to the <B>DEVELOPER</B> pursuant to Clause Sixteenth of the <B>APP </B>shall
be considered as the base<B>. </B>This equivalence shall be maintained throughout the term of the bond, with yearly term and automatic
renewal during all the <B>OPERATION PERIOD</B>, as from the <B>DATE OF COMMENCEMENT OF OPERATION</B> and until the <B>DELIVERY</B>
and operation of the <B>SYSTEM</B> to <B>CEA</B> and delivery by the <B>DEVELOPER</B> to <B>CEA</B> of the <B>APP TERMINATION GUARANTEE</B>,
pursuant to the provisions of the <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The delivery of the policy corresponding
to this bond shall be necessary for the execution of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">This guarantee shall be payable
upon request of payment made by <B>CEA</B> and/or the <B>SPF</B> to the guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The hiring of this bond shall
be attested in the model used for such purposes by the bond company granting it to the <B>DEVELOPER</B> and approved by the <B>SPF</B>,
but the policy shall include within its conditions the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt">a.</TD><TD STYLE="text-align: justify">The term of the policy shall be annual and of automatic renewal, without the need of an express
statement from its contractor or of its beneficiary, it shall be effective and in force for all the <B>OPERATION PERIOD</B>, its
effects shall commence on the date of its issuance and conclude on the date of <B>DELIVERY</B> of the <B>SYSTEM,</B> in terms of
this <B>APP</B>. The early cancellation of this policy, shall require the express request made the <B>DEVELOPER</B> evidencing
the written approval of <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt">b.</TD><TD STYLE="text-align: justify">The bond shall be enforced upon rescission due to causes exclusively attributable to the <B>DEVELOPER</B>,
in terms of <B>CLAUSE THIRTY FIRST</B> of the <B>APP</B> or when the <B>DEVELOPER</B> does not cover the amount of the corresponding
conventional penalty referred to in <B>CLAUSE THIRTY FIFTH</B> of this <B>APP</B>, within the term and extensions established in
this <B>APP</B> for such purpose; as well as when the <B>DEVELOPER</B> has not covered the costs required for the <B>DELIVERY</B>
of the <B>SYSTEM</B>, pursuant to <B>EXHIBIT 17</B> or had not delivered the <B>APP TERMINATION GUARANTEE,</B> being necessary
to repair hidden defects for the maintenance and replacement of equipment of the <B>SYSTEM</B> in which the <B>DEVELOPER</B> had
incurred during the <B>OPERATION PERIOD</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt">c.</TD><TD STYLE="text-align: justify">To enforce the bond in the events referred to in the previous section, the written requirement
of <B>CEA</B> and/or the <B>SPF</B> to the bond company shall be necessary, in which they state and provide documental evidence
that the rescission of the <B>APP</B> has been made effective for causes exclusively attributable to the <B>DEVELOPER</B> and that
the corresponding procedure provided in <B>CLAUSE THIRTY FIRST</B> of this <B>APP</B> has been followed and complied with or, if
applicable, that <B>DEVELOPER</B> has incurred in the hypothesis mentioned in the last part of the immediately preceding section,
without the <B>DEVELOPER</B> having remedied the situation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt">d.</TD><TD STYLE="text-align: justify">The bond company shall cover the amount resulting in charge of the <B>DEVELOPER</B> in terms of
such <B>CLAUSE THIRTY FIRST</B> of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In the event of extensions or
waits granted to the <B>DEVELOPER</B> for compliance of its obligations arising from the formalization of agreements for the extension
of the amount or term of the <B>APP</B>, the corresponding modification to the bond shall be obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>3.</B></TD><TD STYLE="text-align: justify"><B>APP TERMINATION GUARANTEE.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On the date of conclusion of the <B>OPERATION
PERIOD</B>, provided that <B>CEA</B> has not exercised its option to extend the term of the <B>APP</B>, the <B>DEVELOPER</B> is
obliged to obtain a bond or its equivalent, which shall be valid for a period of 6 (six) months after the date of execution of
the <B>MINUTES OF TERMINATION OF THE APP AND DEFINITIVE DELIVERY</B> in terms of this <B>APP</B>, the amount of which shall be
equivalent to the annual payment of T2 + (T3 X Q) corresponding to the previous year, to repair hidden defects for maintenance
and equipment replacement of the <B>SYSTEM</B> in which the <B>DEVELOPER</B> had incurred during the <B>OPERATION PERIOD</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The agreement by which this bond is granted
shall include, at least, the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">a.</TD><TD STYLE="text-align: justify">That it is granted with knowledge of all the provisions of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">b.</TD><TD STYLE="text-align: justify">That it is granted for an updated amount.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">c.</TD><TD STYLE="text-align: justify">The term of the policy shall be for the 6 (six) months following the <B>MINUTES OF TERMINATION
OF THE APP AND DEFINITIVE DELIVERY</B>. The early termination of this policy shall require the express and written statement of
<B>CEA</B> or the <B>ADMINISTRATION TRUST,</B> which shall not be withheld or denied in an unjustified manner.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">d.</TD><TD STYLE="text-align: justify">The bond shall be enforced when the <B>DEVELOPER</B> does not cover the full, reasonable and justified
costs required for the <B>DELIVERY</B> of the <B>SYSTEM</B>, pursuant to <B>EXHIBIT 17 </B>or when it is necessary to repair hidden
defects for the maintenance and replacement of equipment of the <B>SYSTEM</B> in which the <B>DEVELOPER</B> had incurred during
the <B>OPERATION PERIOD.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">e.</TD><TD STYLE="text-align: justify">To enforce the bond, the written requirement of <B>CEA</B> and/or the <B>SPF</B> to the bond company
shall be necessary, in which they state and provide documental evidence on the non-compliance by the <B>DEVELOPER</B> referred
to in the last part of the preceding section.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">f.</TD><TD STYLE="text-align: justify">The bond company shall cover the amount resulting in charge of the <B>DEVELOPER</B> in terms of
the preceding paragraph, upon written request by <B>CEA</B> and/or the <B>SPF </B>to the guarantor.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">g.</TD><TD STYLE="text-align: justify">That the bond company expressly accepts to submit itself to the procedure established in article
279 and 282 connecting with article 178, and waives the benefits established in article 179 of the Law of Insurances and Bonds
Institutions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that the terms of execution
established for the different stages of the works of this <B>APP</B> are extended, it shall be agreed that the term of the corresponding
guarantees shall be automatically extended or immediately replaced to cover the period corresponding to the extension and its amount
shall be updated, acknowledging the amount of expenses corresponding to the <B>DEVELOPER</B> in the event that the causes for extension
of the terms are not attributable to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>4.</B></TD><TD STYLE="text-align: justify"><B>COMMON PROVISIONS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>CONSTRUCTION GUARANTEE</B>, the
<B>OPERATION GUARANTEE</B>, and the <B>APP TERMINATION GUARANTEE</B>, in order to be valid pursuant to the <B>APP</B>, shall comply
with the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">a.</TD><TD STYLE="text-align: justify">Be issued by a bond company authorized by the <B>SHCP</B> to operate in Mexico.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">b.</TD><TD STYLE="text-align: justify">The exhibition of the corresponding policies to <B>CEA</B>, shall be necessary for <B>CEA</B> to
guarantee the provisions of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">c.</TD><TD STYLE="text-align: justify">The breach by the <B>DEVELOPER</B> in granting the guarantees referred in this <B>CLAUSE TWENTY
EIGHTH </B>or to maintain their effectiveness, shall be a cause for rescission of the <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">d.</TD><TD STYLE="text-align: justify">They shall be payable at the requirement of payment made by <B>CEA</B> and/or the <B>SPF</B> to
the issuer, pursuant to the sections above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">e.</TD><TD STYLE="text-align: justify">The hiring of these bonds shall be done pursuant to the model used for such purposes by the bond
company granting it to the <B>DEVELOPER</B> and approved by the <B>SPF</B>, but the policy shall include within its conditions
the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">i.</TD><TD STYLE="text-align: justify">That the bond is granted attending to all the corresponding provisions contained in this <B>CLAUSE
TWENTY EIGHTH.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">ii.</TD><TD STYLE="text-align: justify">That the release of the bond indispensably requires the express and written statement of <B>CEA
</B>or the trustee of the <B>ADMINISTRATION TRUST, </B>which shall not be denied in an unjustified manner;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">iii.</TD><TD STYLE="text-align: justify">That the bond company expressly accepts to submit itself to the execution procedures provided in
the Law of Insurances and Bonds Institutions for the effectiveness of the bonds, even for the event that the collection of interest
was applicable, as a result of the extemporaneous payment of the amount of the required bond policy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">f.</TD><TD STYLE="text-align: justify">In the event of extensions or waits granted to the <B>DEVELOPER</B> for compliance of its obligations
arising from the formalization of agreements for the extension of the amount or term of the <B>APP,</B> the corresponding modification
to the bond shall be obtained by the <B>DEVELOPER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">g.</TD><TD STYLE="text-align: justify"><B>CEA</B> is obliged to release the corresponding bonds pursuant to the respective provisions
for each event provided in this <B>APP</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>TWENTY NINTH.- RESOURCES OF THE CONSIDERATION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> and <B>CESPT</B>, by means of this <B>APP</B> jointly oblige themselves, to pay to the
<B>DEVELOPER</B>, in terms of articles 1862, 1864 and 1878 of the Civil Code for the State of Baja California, the <B>CONSIDERATION</B>.
For such purposes, the <B>ADMINISTRATION TRUST</B> shall be created, to which the sufficient resources and rights shall be affected
to guarantee the payment of the <B>CONSIDERATION</B>. <B>CEA</B> obliges itself to promote and obtain the registry of this <B>APP</B>
in terms of article 85 of the <B>LAPPEBC,</B> for purposes of which it shall negotiate before the corresponding entity its filing
before the Congress of the State of Baja California for its inclusion in the expenses budget that corresponds to each of the years
in which the payment of the <B>CONSIDERATION</B> shall be made under this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> and <B>CESPT</B> oblige themselves to affect to the <B>ADMINISTRATION TRUST,</B> the
economic rights and the necessary resources, including without limitation, the right to dispose of the <B>CURRENT ACCOUNT LOAN
</B>, with the purpose of destining them as an alternative source of payment of the <B>CONSIDERATION</B>, and the collection rights
pursuant to the <B>WATER PURCHASE AND SALE AGREEMENT</B>, which shall be destined as the main source of payment of the <B>CONSIDERATION</B>,
in the terms established in this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>3.</B></TD><TD STYLE="text-align: justify">With the purpose of guaranteeing the payment of the purchase and sale of <B>POTABLE WATER</B> pursuant
to the <B>WATER PURCHASE AND SALE AGREEMENT</B> in charge of <B>CESPT</B> and in favor of <B>CEA</B>, and therefore, the payment
of the <B>CONSIDERATION</B> in favor of the <B>DEVELOPER</B>, <B>CEA </B>obliges itself to negotiate, contract and make effective
the <B>CURRENT ACCOUNT LOAN </B>as a condition for the <B>APP EFFECTIVENESS COMMENCEMENT</B> to commence the construction of the
<B>SYSTEM</B>, which purpose shall be to cover possible liquidity shortfalls to comply with the payment obligations in charge of
<B>CESPT</B> and in favor of <B>CEA</B> agreed in the <B>WATER PURCHASE AND SALE AGREEMENT</B>, when <B>CESPT</B> does not comply
with such obligations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>4.</B></TD><TD STYLE="text-align: justify">In the hiring of the <B>CURRENT ACCOUNT LOAN</B>, in addition to <B>CEA ,</B> the Government of
the State of Baja California through <B>SPF</B>, shall appear as joint obligor of the payment obligations acquired by <B>CEA, </B>in
terms of the mentioned <B>CURRENT ACCOUNT LOAN</B>, and shall grant in guarantee of such obligations, the contributions to the
<B>MASTER GUARANTEE TRUST</B> pursuant to transitory article eighteenth of the Income Law of the State of Baja California for the
Tax Year of 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>5.</B></TD><TD STYLE="text-align: justify"><B>The CURRENT ACCOUNT LOAN</B>, which shall be guaranteed by the <B>SPF</B>, shall be disposable
as from the 37<SUP>th</SUP> (thirty seventh) month counted as from the date of issuance of the <B>MINUTES OF COMMENCEMENT OF THE
APP</B> and shall remain in effect as long as the payment obligations in charge of <B>CEA</B> in favor of the <B>DEVELOPER</B>
remain valid in terms of this <B>APP.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>6.</B></TD><TD STYLE="text-align: justify">The amount of the <B>CURRENT ACCOUNT LOAN</B> shall always be equivalent to 3 (three) months of
payment of the <B>CONSIDERATION</B> in charge of <B>CEA</B>, updated in accordance to <B>EXHIBIT 13</B>, plus the corresponding
<B>IVA </B>and financial accessories. In the event that the <B>FINANCIAL AGREEMENTS</B> require an extension of the amount of such
<B>CURRENT ACCOUNT LOAN</B> and/or that the conditions considered in the <B>ECONOMIC PROPOSAL</B> are affected, it shall be extended
to up to 6 (six) months of the payment of the <B>CONSIDERATION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>7.</B></TD><TD STYLE="text-align: justify">The right to dispose of the resources of the <B>CURRENT ACCOUNT LOAN</B> shall be affected to the
<B>ADMINISTRATION TRUST</B>, for its exercise by the trustee thereof within the 2 (two) <B>BUSINESS DAYS</B> following the creation
of the <B>ADMINISTRATION TRUST</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt"><B>8.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> is obliged to contribute to the assets of the <B>ADMINISTRATION TRUST</B>, at least
the following rights, in the understanding that such contributions shall be perfected within the 2 (two) <B>BUSINESS DAYS</B> following
the creation of the <B>ADMINISTRATION TRUST</B>, otherwise it shall be considered a breach by <B>CEA</B>:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt"><B>a.</B></TD><TD STYLE="text-align: justify">100% of the collection rights arising from the block water purchase and sale agreement or agreements
that it has executed with water operating entities of the State of Baja California, which are not affected at the time of execution
of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt"><B>b.</B></TD><TD STYLE="text-align: justify">100% of the collection rights arising from any block water purchase and sale agreement or agreements
that it executes in the future with water operating entities of the State of Baja California.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt"><B>c.</B></TD><TD STYLE="text-align: justify">100% of the collection rights arising from any water purchase and sale agreement or any agreement
for transfer of water rights with any entity or government.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTIETH.- EARLY TERMINATION OF THE
APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the event of early termination of the
<B>APP</B>, the <B>PARTIES</B> agree to submit themselves to what they agree in its moment; however, to ensure compliance with
the Financial Agreements of the <B>PROJECT</B>, they shall consider in their agreement, at the least, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 24.55pt"><B>I.</B></TD><TD STYLE="text-align: justify"><B>EARLY TERMINATION BY MUTUAL AGREEMENT BETWEEN THE PARTIES DURING THE INVESTMENT PERIOD:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify; text-indent: -24.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> is obliged to the payment of
the amounts of the T1 tariff with its respective updates and which correspond to the investment with <B>RISK CAPITAL</B> and with
resources from the <B>FINANCIAL AGREEMENTS, </B>pursuant to the provisions of <B>EXHIBIT 13</B> &ldquo;Adjustments to the Amount
of the <B>CONSIDERATION</B>&rdquo;, plus the amount of the insurances, the cost of the <B>ADMINISTRATION TRUST</B> and any expenses
and investments carried out by the <B>DEVELOPER</B> or incurred and pending amortization, calculated based on the corresponding
evidence submitted by the <B>DEVELOPER</B> , in the understanding that such payments shall be monthly as from the date agreed by
the <B>PARTIES</B> for the early termination and until the conclusion of the 444 (four hundred and forty four) months counted as
from the <B>APP EFFECTIVENESS COMMENCEMENT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 24.55pt"><B>II.</B></TD><TD STYLE="text-align: justify"><B>EARLY TERMINATION BY MUTUAL AGREEMENT BETWEEN THE PARTIES DURING THE OPERATION PERIOD:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify; text-indent: -24.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> is obliged to pay the amounts
of the T1 tariff with its corresponding updates and which correspond to the amount of the investment with <B>RISK CAPITAL</B>,
and with resources from the <B>FINANCIAL AGREEMENTS</B>, pursuant to <B>EXHIBIT 13</B> &ldquo;Adjustments to the Amount of the
<B>CONSIDERATION</B>&rdquo;, plus the amount of the insurances, the cost of the <B>ADMINISTRATION TRUST </B>and any expenses and
investments made by the <B>DEVELOPER</B> or incurred and pending amortization, as calculated based in the corresponding evidence
submitted by the <B>DEVELOPER, </B>arising from the rendering of the services subject matter of this <B>APP</B>, in the understanding
that such payments shall be monthly throughout the remaining term until conclusion of the 444 (four hundred and forty four) months
considered for the <B>OPERATION PERIOD</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 24.55pt"><B>III.</B></TD><TD STYLE="text-align: justify"><B>RESCISSION OF THE PUBLIC PRIVATE PARTNERSHIP AGREEMENT APP:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Regardless of the provisions on the matter
included in the <B>LAPPEBC</B>, the <B>PARTIES</B> shall submit themselves to the provisions of <B>CLAUSE THIRTY FIRST</B> of this
<B>APP</B> for purposes of the rescission of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42.55pt; text-align: justify; text-indent: -24.55pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 24.55pt"><B>IV.</B></TD><TD STYLE="text-align: justify"><B>IMPOSSIBILITY TO COMPLY WITH THE SUBJECT MATTER OF THE APP DUE TO ACT OF GOD OR FORCE MAJEURE
EVENT:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> shall submit themselves
to <B>CLAUSE THIRTY SECOND </B>of this <B>APP</B> in the event of impossibility to comply with the subject matter of the <B>APP</B>
due to <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 24.55pt"><B>V.</B></TD><TD STYLE="text-align: justify"><B>EARLY TERMINATION DUE TO CAUSES OF GENERAL INTEREST.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon termination of the effects of this
<B>APP</B> due to causes of general interest or when, due to justified causes the necessity of requiring the goods or services
originally contracted is extinguished, and it is justifiably evidenced that the continuance of the compliance of the agreed obligations
would cause damage or detriment to the State pursuant to article 123 of the <B>RLAPPEBC</B>, the <B>PARTIES</B> shall submit themselves
to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.4pt"></TD><TD STYLE="width: 21pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>During the INVESTMENT PERIOD.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 25.7pt"><B>a.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> shall communicate in writing to the <B>DEVELOPER</B> that the <B>APP</B> shall be terminated
in an anticipated manner due to causes of general interest, describing, justifying and evidencing the reasons of general interest,
mentioning the term that the <B>DEVELOPER</B> shall have to deliver the <B>PROJECT WORKS</B>, which shall not be less than 90 (ninety)
<B>BUSINESS DAYS, </B>counted as from the date of such communication.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -25.7pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 25.7pt"><B>b.</B></TD><TD STYLE="text-align: justify">Within the term granted to the <B>DEVELOPER</B>, the latter shall proceed to prepare an inventory
of the assets that comprise the <B>PROJECT WORKS</B> at that moment, which it shall deliver to <B>CEA</B>, in coordination with
the <B>SUPERVISION</B> and a representative of <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -25.7pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 25.7pt"><B>c.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> shall pay to the <B>DEVELOPER</B> the expenses and investments made by the <B>DEVELOPER</B>
or incurred and pending amortization, whether corresponding to the amount of the investment through <B>RISK CAPITAL</B> or with
resources from the <B>FINANCIAL AGREEMENTS</B>, as calculated based in the corresponding evidence submitted by the <B>DEVELOPER</B>
arising from the rendering of the services subject matter of this <B>APP</B>, which shall include the reimbursement to the <B>DEVELOPER</B>
of the debt service incurred by the <B>DEVELOPER</B> (concepts not included in the T1) plus the amount of the insurances and the
cost of the <B>ADMINISTRATION TRUST</B>, as well as the amount of all the other costs and expenses made by the <B>DEVELOPER</B>,
in the <B>PROJECT</B>. Within the term granted to the <B>DEVELOPER</B>, it shall prepare the inventory of the assets that comprise,
at that moment, the works that shall be delivered in coordination with the <B>SUPERVISION</B> and a representative of <B>CEA</B>.
<B>CEA</B> shall commence the payment of the updated T1 determined by the <B>SUPERVISION</B>, in the understanding that the corresponding
payments shall be monthly from the 37<SUP>th</SUP> (thirty seventh) month as from the <B>MINUTES OF COMMENCEMENT OF THE APP</B>
and until the month 444 (four hundred and forty four) counted as from such date and pursuant to <B>EXHIBIT 13</B> of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -25.7pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 25.7pt"><B>d.</B></TD><TD STYLE="text-align: justify">In the event of controversy over the expenses and investments to be reimbursed to the <B>DEVELOPER</B>,
the <B>PARTIES</B> shall resort to the procedure for resolution of controversies contained in <B>CLAUSE THIRTY FOURTH</B> of this
<B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.4pt"></TD><TD STYLE="width: 21pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>During the OPERATION PERIOD.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt"><B>a.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> shall communicate in writing to the <B>DEVELOPER</B> that the <B>APP</B> shall be terminated
in an anticipated manner due to causes of general interest, describing, justifying and evidencing the reasons of general interest,
mentioning the term that the <B>DEVELOPER</B> shall have to deliver the <B>SYSTEM</B>, which shall not be less than 90 (ninety)
<B>BUSINESS DAYS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt"><B>b.</B></TD><TD STYLE="text-align: justify">Within the term granted to the <B>DEVELOPER</B>, it shall proceed to prepare an inventory of the
assets that comprise the <B>SYSTEM </B>at that moment, which it shall deliver to <B>CEA</B>, in coordination with the <B>SUPERVISION</B>
and a representative of <B>CEA</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt"><B>c.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> shall pay to the <B>DEVELOPER</B> the expenses and investments made by the <B>DEVELOPER</B>
or incurred and pending amortization, as calculated based in the corresponding evidence submitted by the <B>DEVELOPER</B> arising
from the rendering of the services subject matter of this <B>APP</B>, which shall include the reimbursement to the <B>DEVELOPER</B>
of the debt service incurred by the <B>DEVELOPER (concepts not included in the T1).</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 52.9pt"></TD><TD STYLE="width: 18pt"><B>d.</B></TD><TD STYLE="text-align: justify"><B>CEA</B> shall continue paying the amount of the T1 tariff pursuant to <B>EXHIBIT 13 &ldquo;</B>Adjustments
to the Amount of the <B>CONSIDERATION&rdquo;</B>, plus the amount of the insurances and the cost of the <B>ADMINISTRATION TRUST</B>,
in the understanding that such payments shall be carried out monthly for the remaining term until the conclusion of the 444 (four
hundred and forty four) months counted as from the date of the <B>APP EFFECTIVENESS COMMENCEMENT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 52.9pt"></TD><TD STYLE="width: 18pt"><B>e.</B></TD><TD STYLE="text-align: justify">In the event of controversy over the expenses and investments to be reimbursed to the <B>DEVELOPER</B>,
the <B>PARTIES</B> shall recur to the procedure for resolution of controversies contained in <B>CLAUSE THIRTY FOURTH</B> of this
<B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In any event of early termination of this
<B>APP</B> pursuant to the provisions of sections I through IV above, and notwithstanding the applicable provisions of the <B>LAPPEBC</B>,
the <B>PARTIES</B> agree that the relevant items of the procedure for <B>DELIVERY</B> of the <B>SYSTEM</B> contained in <B>EXHIBIT
17 </B>shall be applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of early termination of the
<B>APP</B>, pursuant to the provisions of section V above, the <B>PARTIES</B> agree that the provisions of Clause Thirty Third
of this <B>APP</B> shall be applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY FIRST.- RESCISSION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 31.65pt">I.</TD><TD STYLE="text-align: justify"><B>Causes of Rescission</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The following shall be causes
of rescission of this <B>APP</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 31.65pt">1.</TD><TD STYLE="text-align: justify">For causes exclusively attributable to the <B>DEVELOPER:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">a.</TD><TD STYLE="text-align: justify">Not executing the <B>MINUTES OF COMMENCEMENT OF THE APP</B> in the terms and conditions provided
in this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">b.</TD><TD STYLE="text-align: justify">Assign, transfer or encumber in any way this <B>APP</B> or any of the rights arising from it, without
the prior written approval of <B>CEA</B> except for the assignment of collection rights of the <B>CONSIDERATION</B> and the pledge
over shares representing the corporate capital of the <B>DEVELOPER, </B>set forth in the <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">c.</TD><TD STYLE="text-align: justify">Not obtaining or maintaining the effectiveness of the guarantees or insurances referred to in this
<B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">Not obtaining, due to causes exclusively attributable to the <B>DEVELOPER</B>, the corresponding
authorizations for the <B>WASTE WATER</B>; as well as the <B>ENVIRONMENTAL IMPACT STATEMENT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">e.</TD><TD STYLE="text-align: justify">Breach during the <B>OPERATION PERIOD</B>, due to causes exclusively attributable to the <B>DEVELOPER</B>,
of the quantity and quality parameters of the <B>POTABLE WATER</B> established in this <B>APP</B> and its exhibits, during a term
exceeding 60 (sixty) consecutive <B>BUSINESS DAYS</B> counted as from the date on which there is knowledge of the deficiencies
in such parameters, or, during a period exceeding 180 (one hundred and eighty) discontinuous <B>BUSINESS DAYS</B> within 1 (one)
calendar year.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">f.</TD><TD STYLE="text-align: justify">The unjustified suspension or delay in the preparation of the <B>EXECUTIVE PROJECT</B> or the construction,
equipment, <B>TESTS</B> and set-up of operations of the <B>PROJECT WORKS</B>, for causes exclusively attributable to the <B>DEVELOPER</B>,
for a period greater than 180 (one hundred and eighty) <B>BUSINESS DAYS</B> with respect to that provided in the <B>CALENDARED
SCHEDULE,</B> provided that, after carrying out the corresponding notice of breach to the <B>DEVELOPER</B> and the lapsing of the
cure period established below, it implies an equivalent delay in the date foreseen for the commencement of the <B>OPERATION PERIOD</B>
and consequently, the <B>MINUTES OF COMMENCEMENT OF OPERATION</B> are not executed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">g.</TD><TD STYLE="text-align: justify">The total suspension of the operation of the <B>SEAWATER DESALINATION PLANT</B> for a term greater
than 60 (sixty) consecutive <B>BUSINESS DAYS, </B>or 180 (one hundred and eighty) discontinuous <B>BUSINESS DAYS</B> within a period
of 1 (one) year without a justified cause.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">h.</TD><TD STYLE="text-align: justify">To modify the legal nature of the <B>DEVELOPER</B>, its nationality, corporate structure or the
participation percentages of the shareholders in the corporate capital, without the prior written approval of <B>CEA.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">i.</TD><TD STYLE="text-align: justify">The juridical, legal or judicial inability of the <B>DEVELOPER,</B> which prevents it from complying
with the obligations arising from this <B>APP</B> for a period greater than 90 (ninety) <B>BUSINESS DAYS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">j.</TD><TD STYLE="text-align: justify">If the <B>DEVELOPER</B> enters into bankruptcy pursuant to the <B>APPLICABLE LAWS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless this <B>APP</B> establishes a different
term, in the event of occurrence of any of the rescission causes mentioned above, the <B>DEVELOPER</B> shall have a term of 90
(ninety) <B>BUSINESS DAYS</B> counted as from the moment of the corresponding notification that for such purposes is given by <B>CEA</B>,
to remedy such cause of rescission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.</TD><TD STYLE="text-align: justify">Upon lapsing of such term, <B>CEA</B> may opt to (i) execute an agreement with the <B>DEVELOPER</B>
in which the latter obliges itself to compensate <B>CEA</B> for the expenses in which <B>CEA</B> had incurred as a result of the
breach by the <B>DEVELOPER</B> (within the limitations established in this <B>APP</B> and subtracting any applicable conventional
penalties) and to establish an additional term to remedy the corresponding breach, or (ii) commence the rescission procedure established
in section II of this Clause. For purposes of this paragraph, the <B>DEVELOPER</B> agrees that the lack of exercise of the right
to rescind this <B>APP</B> by <B>CEA</B> shall not be considered as a waiver to such right for the future or subsequent breaches.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.2.</TD><TD STYLE="text-align: justify">In the event that <B>CEA</B> elects to commence the rescission procedure of this <B>APP</B>, pursuant
to the immediately preceding paragraph before commencing such procedure, <B>CEA</B> shall notify the <B>CREDITORS </B>on its decision,
in order for the <B>CREDITORS</B> to have the option, within the 90 (ninety) <B>CALENDAR DAYS </B>following the receipt of such
notification, to exercise any of the following options:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 21.3pt">(a)</TD><TD STYLE="text-align: justify">Commence and pursue in a diligent manner, on behalf and in representation of the <B>DEVELOPER,
</B>the acts tending to remedy the cause of rescission of the <B>DEVELOPER</B>; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 21.3pt">(b)</TD><TD STYLE="text-align: justify">Diligently exercise its guarantee rights against the <B>DEVELOPER</B> with the purpose of assuming,
by itself or through third parties, all the rights and obligations of the <B>DEVELOPER </B>with respect to the <B>SYSTEM</B>, provided
that (i) the party substituting the <B>DEVELOPER</B> has legal and operative capacity, and economic solvency equal or greater than
those of the <B>DEVELOPER</B> at the date of execution of this <B>APP</B>, (ii) the party substituting the <B>DEVELOPER </B>designates
an operator and executes an operation services agreement with it, and both the substitute of the <B>DEVELOPER</B> and the substitute
operator have obtained the corresponding permits and authorizations pursuant to the <B>APPLICABLE LAWS</B>, and (iii) the party
substituting the <B>DEVELOPER</B> creates in favor of <B>CEA</B> the applicable guarantees pursuant to this <B>APP.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify; text-indent: -21.3pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.3.</TD><TD STYLE="text-align: justify">Upon persistence of a cause of rescission attributable exclusively to the <B>DEVELOPER</B> which
remediation the <B>PARTIES</B> cannot agree pursuant to this Clause or with respect to which the <B>CREDITORS</B> do not elect
to remedy or assume all the rights and obligations of the <B>DEVELOPER</B> with respect to the <B>SYSTEM, CEA</B> shall have the
option of assuming all the rights and obligations of the <B>DEVELOPER</B> with respect to the <B>SYSTEM</B>. In the event that
<B>CEA</B> exercises such option:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 21.3pt">(a)</TD><TD STYLE="text-align: justify">The <B>DEVELOPER</B> shall transfer to <B>CEA,</B> free of any lien, the ownership of all the technical
documentation (including but not limited to: blueprints, memoirs, operation handbooks, studies and appraisals), and of the premises,
equipment, spare parts, materials, moveable assets and real estate, rights arising from the agreements related to the real estate
on which the infrastructure of the <B>SYSTEM</B> shall be installed or constructed, supplies and accessories that comprise the
<B>PROJECT</B>, in terms of the provisions of this <B>APP</B>, evidencing the physical or legal delivery in the <B>MINUTES OF TERMINATION
OF THE APP AND DEFINITIVE DELIVERY</B>; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 56.7pt"></TD><TD STYLE="width: 21.3pt">(b)</TD><TD STYLE="text-align: justify">At all times, including without limitation any of the rescission causes exclusively attributable
to the <B>DEVELOPER</B>, considered in this Clause, <B>CEA </B>shall be obliged to pay in favor of the <B>DEVELOPER</B> (i) the
monthly tariff without <B>IVA </B>in <B>PESOS</B> to pay for the fixed costs of amortization of the investment carried out by the
<B>DEVELOPER</B> in <B>RISK CAPITAL </B>of the <B>TOTAL COST OF THE SYSTEM</B> for the preparation of the <B>EXECUTIVE PROJECT</B>,
construction, equipment and <B>SET-UP OF OPERATIONS</B> of the <B>SYSTEM (T1R)</B>, or, if applicable, the <B>TIR <SUB>PROPORTIONAL</SUB></B>
tariff and (ii) the monthly tariff without <B>IVA</B> in <B>PESOS</B> destined to the payment of the fixed amortization costs of
the investment made by the <B>DEVELOPER</B> with resources from the <B>FINANCIAL AGREEMENTS</B> of the <B>TOTAL COST OF THE SYSTEM</B>
for the preparation of the <B>EXECUTIVE PROJECT</B>, construction, equipment and <B>SET-UP OF OPERATIONS</B> of the <B>SYSTEM (T1C)</B>,
or, if applicable, the <B>TIC <SUB>PROPORTIONAL</SUB></B> tariff in terms of <B>Clause Eleventh</B> of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.4.</TD><TD STYLE="text-align: justify">Finally, upon the persistence of a cause of rescission exclusively attributable to the <B>DEVELOPER</B>
which remediation the <B>PARTIES </B>cannot agree pursuant to this Clause, with respect to which the <B>CREDITORS</B> elect not
to remedy and with respect to which <B>CEA</B> does not exercise the option of assuming all the rights and obligations of the <B>DEVELOPER</B>
with respect to the <B>SYSTEM</B>, it shall be understood that a <B>FORCE MAJEURE EVENT</B> has occurred and the provisions of
Clause Thirty Second of this <B>APP</B> shall be applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>For causes exclusively attributable to CEA:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">a) That <B>CEA</B>
does not pay the <B>CONSIDERATION</B> in terms of this <B>APP</B>, and such may not be paid to the <B>DEVELOPER</B> using the <B>CURRENT
ACCOUNT LOAN</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">b) The breach by <B>CEA</B>
and/or <B>CESPT</B>, of the provisions of the <B>ADMINISTRATION TRUST</B>, provided that the foregoing implies the lack of payment
of the contractual obligations of <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">c) The non-compliance
by <B>CEA, CESPT </B>or the <B>SPF</B> of their obligations pursuant to the provisions of the <B>CURRENT ACCOUNT LOAN</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">d) Not maintaining,
for causes attributable to <B>CEA,</B> the concessions, authorizations, licenses and permits exclusively required for the <B>INTAKE
WATER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">e) The breach of any
obligation provided in this <B>APP</B>, having as a direct or indirect effect, the generation of damages and losses to the <B>DEVELOPER</B>
or the affectation, obstruction, partial or total impediment of the rights of this <B>APP</B>. The affectation, obstruction, total
or partial impediment of the rights of this <B>APP</B> shall mean, without limitation, the illegal exercise by any entity, agency
or dependence of the Government of the State of Baja California against the exercise of the rights of the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">f) That <B>CEA</B>
refuses to or does not have the necessary capacity to receive the rendering of services subject matter of this <B>APP</B> by the
<B>DEVELOPER</B>, including without limitation, the <B>POTABLE WATER</B> from the <B>SYSTEM</B> in terms of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that any of the rescission
causes attributable to <B>CEA</B> persists, the <B>DEVELOPER</B> may terminate the <B>APP</B> and demand to <B>CEA </B>the acquisition
of the <B>SYSTEM</B>, being <B>CEA</B> obliged to do so, as well as to acquire the real estate in which the <B>SYSTEM</B> is located,
and any other rights related to it, as well as the payment of the damages and losses caused by the breach of <B>CEA</B> pursuant
to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">i)</TD><TD STYLE="text-align: justify"><B>During the INVESTMENT PERIOD</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> shall pay to the <B>DEVELOPER</B>
the expenses and investments carried out by the <B>DEVELOPER</B> or incurred and pending amortization, calculated based on the
corresponding receipts presented by the <B>DEVELOPER,</B> arising from the rendering of the services subject matter of this <B>APP</B>,
which shall include the reimbursement to the <B>DEVELOPER</B> of the debt incurred by it (<B>concepts not included in the T1</B>)
in addition to the amounts of the insurance and the costs of the <B>ADMINISTRATION TRUST</B>, as well as the amount of the other
expenses and costs carried out by the <B>DEVELOPER</B> in the <B>PROJECT</B>. Likewise, <B>CEA</B> shall be liable for the damages
and losses caused to the <B>DEVELOPER</B> by its breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Within the term granted to the <B>DEVELOPER</B>,
which shall not be less than 90 (ninety) <B>BUSINESS DAYS</B>, it shall proceed to make an inventory of the assets that comprise
the <B>PROJECT WORKS</B> at that moment, which it shall deliver, in coordination with the <B>SUPERVISION</B> and a representative
of <B>CEA</B>. <B>CEA</B> shall commence the payment of the T1, updated and determined by the <B>SUPERVISION</B>, in the understanding
that the corresponding payments shall be made monthly as from the 37<SUP>th</SUP> (thirty seventh) month counted as from the <B>APP
EFFECTIVENESS COMMENCEMENT</B> and until the 444<SUP>th</SUP> (four hundred and forty fourth) month counted as from such date and
according to the provisions of <B>EXHIBIT 13</B> of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">ii)</TD><TD STYLE="text-align: justify"><B>During the OPERATIONS PERIOD</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Within the term granted to the <B>DEVELOPER</B>,
which may not be less than 90 (ninety) <B>BUSINESS DAYS</B>, it shall proceed to make an inventory of the assets that comprise
the <B>SYSTEM</B> at that moment, which it shall deliver to <B>CEA</B>, in coordination with the <B>SUPERVISION</B> and a representative
of <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> shall pay to the <B>DEVELOPER</B>
the expenses and investments carried out by the <B>DEVELOPER</B> or incurred and pending amortization, calculated based on the
corresponding evidence submitted by the <B>DEVELOPER,</B> arising from the rendering of the services subject matter of this <B>APP</B>,
which shall include the reimbursement to the <B>DEVELOPER</B> of the debt incurred by it (<B>concepts not included in the T1</B>).
Likewise, <B>CEA</B> shall be liable for the damages and losses caused to the <B>DEVELOPER</B> by its breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEA</B> shall continue paying the T1
tariff, in accordance with the provisions of <B>EXHIBIT 13</B> &ldquo;Adjustments to the amount of the <B>CONSIDERATION</B>&rdquo;
in addition to the amounts of the insurance and the costs of the <B>ADMINISTRATION TRUST</B>, in the understanding that such payments
shall be made monthly during the remaining term and until the conclusion of the 444 (four hundred and forty four) months counted
as from the <B>APP EFFECTIVENESS COMMENCEMENT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In any event of rescission of the <B>APP</B>
and regardless the applicable provisions of the <B>LAPPEBC</B>, the <B>PARTIES</B> agree that the procedure for the <B>DELIVERY</B>
of the <B>SYSTEM</B> provided in <B>EXHIBIT 17</B>, as appropriate, shall be applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>II.</B></TD><TD STYLE="text-align: justify"><B>Procedure in the event of rescission.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify"><B>Due to causes exclusively attributable to the DEVELOPER:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that pursuant to
section I.1 above of this <B>CLAUSE THIRTY FIRST</B>, <B>CEA</B> is entitled to and elects to demand the rescission of this <B>APP</B>,
CEA shall proceed in accordance with the procedures for resolution of controversies established in <B>CLAUSE THIRTY FOURTH</B>
of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify"><B>Due to causes exclusively attributable to CEA:</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event that pursuant to
section I.2 above of this <B>CLAUSE THIRTY FIRST</B>, the <B>DEVELOPER</B> elects to demand the rescission of this <B>APP</B>,
the <B>DEVELOPER </B>shall proceed in accordance with the procedures for resolution of controversies established in <B>CLAUSE THIRTY
FOURTH</B> of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY SECOND.- EARLY TERMINATION DUE
TO ACT OF GOD OR FORCE MAJEURE EVENT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The breach of any of the obligations assumed
by the <B>PARTIES</B> in this <B>APP</B> shall not be cause for termination or rescission, nor for the application of conventional
penalties and sanctions, when such result from an <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> agree that, upon occurrence
of any of the events considered <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> that prevent compliance of their obligations, the
following shall be applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The party affected by the <B>ACT OF GOD</B>
or <B>FORCE MAJEURE EVENT:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Shall take all the reasonable actions to mitigate the consequences of such event in the compliance
of its obligations pursuant to this <B>APP</B>, without thereby implying any obligation of making expenses;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Shall resume the compliance of its obligations affected by the <B>ACT OF GOD</B> or <B>FORCE MAJEURE
EVENT</B> as soon as possible; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Shall not be released from liability pursuant to this <B>APP</B> if the breach is caused by its
breach to the obligations of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The party requesting the acknowledgement
of the existence of an <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> shall notify so in writing to the other party within the
5 (five) <B>BUSINESS DAYS</B> following the date of awareness of the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>. Such initial
notification shall contain sufficient details to identify the event considered as <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>,
including a description of the event, place, date, time in which it occurred and causes that motivated it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Within the 5 (five) <B>BUSINESS DAYS</B>
following the date on which a party receives the notification referred above, the party affected by an <B>ACT OF GOD</B> or a <B>FORCE
MAJEURE EVENT</B> shall submit all the relevant information in connection with its noncompliance (or delay in compliance) due to
the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>, which shall include, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">h.</TD><TD STYLE="text-align: justify">The effect that the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> shall have on the capacity
of the party to comply with its contractual obligations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">ii. &nbsp;&nbsp;&nbsp;&nbsp;The
actions that it has performed in accordance with section (i) of the third paragraph of this Clause;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">iii. &nbsp;&nbsp;&nbsp;The
date on which the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">iv.&nbsp;&nbsp;&nbsp;&nbsp;An
estimate of the duration of the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> and its effects;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">v.&nbsp;&nbsp;&nbsp;&nbsp;Alternative
solutions, both temporary and/or permanent for the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The party requesting the acknowledgement
of the existence of an <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> shall notify the other within the 3 (three) <B>BUSINESS
DAYS</B> following the date on which the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> or their effects have disappeared, with
the purpose of resuming the compliance of its obligations arising from this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that the party giving the
notice provided in terms of the previous paragraphs, receives or obtains any additional information in connection with the <B>ACT
OF GOD</B> or <B>FORCE MAJEURE EVENT</B>, it shall deliver such additional information to the other party within the 3 (three)
<B>BUSINESS DAYS</B> following its awareness of such information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to the provisions below, in
the event of occurrence of an <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>, the party affected by an <B>ACT OF GOD</B> or a
<B>FORCE MAJEURE EVENT</B> shall be entitled to the additional costs caused by the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B>
to be considered in the payment of the <B>CONSIDERATION</B>, which shall be increased in the amounts corresponding to the additional
costs incurred or to be incurred by the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In any <B>ACT OF GOD</B> or <B>FORCE MAJEURE
EVENT</B>, <B>CEA</B> shall continue the payments of the T1 tariff, in addition to any other payment to which <B>CEA</B> is obliged,
according to this <B>APP</B>, including the payment of the T2 tariff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">I.</TD><TD STYLE="text-align: justify"><B>EFFECTS DURING THE CONSTRUCTION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of an <B>ACT OF GOD</B> or
<B>FORCE MAJEURE EVENT</B> that prevents the construction of the <B>SYSTEM</B> the effects of this <B>APP</B> may be partially
and temporarily suspended until the effects caused by such event disappear, at which moment the legal effects of the <B>APP</B>
shall be resumed in their full extent and validity, until its termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If, upon lapsing of 90 (ninety) continuous
<B>CALENDAR DAYS</B> or 180 (one hundred and eighty) discontinuous <B>CALENDAR DAYS</B> within a year<B>, </B>the effects caused
by the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> have not disappeared, the <B>PARTIES</B> may agree the early termination
of this <B>APP</B>, subject to section I of <B>CLAUSE THIRTIETH.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">II.</TD><TD STYLE="text-align: justify"><B>EFFECTS DURING THE OPERATION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the <B>ACT OF GOD</B> or <B>FORCE MAJEURE
EVENT</B> arise during the <B>OPERATION PERIOD</B>, and impede the continuation of the operation of the <B>SYSTEM</B>, <B>CEA </B>shall
only have to cover<B>, </B>in addition to the payment of the T1 (Fixed Investment Tariff), the T2 (Fixed Operation and Maintenance
Tariff) of the <B>CONSIDERATION</B> in favor of the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If, upon lapsing of 90 (ninety) continuous
<B>CALENDAR DAYS </B>or 180 (one hundred and eighty) discontinuous <B>CALENDAR DAYS</B> within a period of 1 (one) year<B>, </B>the
effects caused by the <B>ACT OF GOD</B> or <B>FORCE MAJEURE EVENT</B> have not disappeared, the <B>PARTIES</B> shall jointly analyze
the contractual situation to determine the measures that should be taken and may agree on a modification to the obligations, an
extension of the partial or total interruption of the service, or the early termination of the <B>APP</B>, in the last case being
subject to section II of <B>CLAUSE THIRTIETH.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY THIRD.- EARLY TERMINATION DUE
TO GENERAL INTEREST OR JUSTIFIED CAUSES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> expressly agree that,
in the event of early termination of the <B>APP</B> due to general interest or justified causes, the <B>SYSTEM</B> and all the
assets and rights necessary for its operation and maintenance, including supply materials, equipment and spare parts shall be transferred
to <B>CEA</B> in the condition in which they are at that time; thus, <B>CEA</B> hereby expressly and irrevocably waives any action
and/or right that it might have to claim the payment or remedy of hidden defects, or any other liability related to the condition
of the <B>SYSTEM</B> and all the rights and assets necessary for the operation and maintenance thereof, including supply materials,
equipment and spare parts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY FOURTH.- PROCEDURE TO SOLVE TECHNICAL
CONTROVERSIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of any disagreement or controversy
of technical or economic nature, but not legal, related to this <B>APP</B>, the <B>PARTIES</B> shall try to solve it in mutual
agreement and pursuant to the principle of good faith, for which either may notify in writing to the other party, on a disagreement
or controversy in terms of this Clause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The <B>DEVELOPER</B> or <B>CEA</B>, accordingly, shall have a term of 5 (five) <B>BUSINESS DAYS</B>
counted as from the reception of the mentioned notification to discuss and provide the evidence that they deem convenient to the
effect of reaching an agreement to solve the controversy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">In the event that the <B>PARTIES</B> do not manage to achieve a written agreement, within a term
of 10 (ten) <B>BUSINESS DAYS</B> following the expiration of the term mentioned in the paragraph above, then they shall submit
themselves to the decision of an expert committee (the &ldquo;Experts Committee&quot;), pursuant to the following procedure:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">The Experts Committee shall be comprised by three experts in the corresponding matter, with each
of the <B>PARTIES </B>appointing one, and the third being appointed by the two experts previously appointed by each of the <B>PARTIES</B>,
who shall be included in the list of justice administration experts and auxiliaries of the Judicial Branch of the State of Baja
California, unless such list does not have experts specialized in the matter of the controversy, in which event the corresponding
knowledge shall have to be evidenced.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">ii.</TD><TD STYLE="text-align: justify">To commence the procedure before the Experts Committee, the interested party shall provide the
counterparty with a notice that shall contain:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 92.15pt"></TD><TD STYLE="width: 15.85pt">a.</TD><TD STYLE="text-align: justify">The decision of submitting the controversy to the Experts Committee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -15.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 92.15pt"></TD><TD STYLE="width: 15.85pt">b.</TD><TD STYLE="text-align: justify">Its designated expert;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -15.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 92.15pt"></TD><TD STYLE="width: 15.85pt">c.</TD><TD STYLE="text-align: justify">The controversy to be resolved and a description thereof, as broad as possible, with the facts
from which it arose;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -15.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 92.15pt"></TD><TD STYLE="width: 15.85pt">d.</TD><TD STYLE="text-align: justify">The evidence with which it intends to justify its intention; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -15.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 92.15pt"></TD><TD STYLE="width: 15.85pt">e.</TD><TD STYLE="text-align: justify">The proposal to resolve the controversy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -15.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">iii.</TD><TD STYLE="text-align: justify">Within the 5 (five) <B>BUSINESS DAYS</B> immediately following the mentioned notice, the notified
party shall reply, with the same requirements mentioned above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">iv.</TD><TD STYLE="text-align: justify">The designated experts shall have 2 (two) <B>BUSINESS DAYS</B> as from the reception of the writs
of the <B>PARTIES</B> to designate the third expert and integrate the Experts Committee. If they do not reach an agreement, the
third member of the Experts Committee shall be designated through an impartial procedure in a term no longer than 10 (ten) <B>BUSINESS
DAYS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">v.</TD><TD STYLE="text-align: justify">Once the Experts Committee is integrated, it may procure the necessary elements to analyze each
of the positions of the <B>PARTIES</B>. For such purposes, the <B>PARTIES</B> oblige themselves to cooperate with the Experts Committee,
providing it with the documentation and information required by it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">vi.</TD><TD STYLE="text-align: justify">If it considers it applicable, the Experts Committee shall receive the <B>PARTIES</B> at a joint
hearing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">vii.</TD><TD STYLE="text-align: justify">In any event, the Experts Committee shall issue its resolution in a term no longer than 60 (sixty)
<B>BUSINESS DAYS</B> as from its creation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">viii.</TD><TD STYLE="text-align: justify">If the resolution is unanimously approved, it shall be binding to the <B>PARTIES</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">ix.</TD><TD STYLE="text-align: justify">The fees and expenses of the experts caused by the mentioned procedure of the Experts Committee,
shall be paid with resources of the <B>ADMINISTRATION TRUST</B>. For such purpose, the party that commences the corresponding procedure
shall deposit in the <B>ADMINISTRATION TRUST</B> the amount corresponding to the fees and expenses established by the Experts Committee,
in the understanding that, in its resolution, the Experts Committee shall decide the distribution of the costs and expenses (including
their fees) caused as a result of the procedure set forth in this Clause, pursuant to the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">If the party that commenced the procedure obtains all the claims requested in the procedure, it
shall be compensated with the incurred expenses, including without limitation the deposit made in the <B>ADMINISTRATION TRUST</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">If the party that commenced the procedure does not obtain any of the requested claims, it shall
not have the right to any reimbursement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">If the party that commenced the procedure obtains the requested claims partially, the Experts Committee
shall decide the portion of the incurred costs and expenses that shall be reimbursed to it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY FIFTH.- CONVENTIONAL PENALTIES
FOR BREACH.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the following events, except when
such result from <B>ACTS OF GOD, FORCE MAJEURE EVENTS </B>or <B>CHANGES IN LAW, </B>or that are consequence of actions or omissions
of <B>CEA</B> or third parties, not exclusively attributable to the <B>DEVELOPER</B>, shall constitute a breach by the <B>DEVELOPER</B>
and, therefore, after expiration of the corresponding grace and/or cure periods, as applicable, shall have as consequence the application
of conventional penalties at its charge, pursuant to the following terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Breach in the <B>PRODUCTION CAPACITY</B> of the <B>POTABLE WATER</B> supplied in the <B>SEAWATER
DESALINATION PLANT</B> at any moment after the date of issuance and execution of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS.</B>
In this case, the <B>VARIABLE OPERATION AND MAINTENANCE TARIFF (T3) </B>corresponding to the non-delivered volume shall not be
paid to the <B>DEVELOPER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">For not delivering the <B>POTABLE WATER</B> with the quality established in <B>EXHIBIT 14</B>,
at any moment after the date of issuance and execution of the <B>MINUTES OF COMMENCEMENT OF OPERATION,</B> in which case, the <B>VARIABLE
OPERATION AND MAINTENANCE TARIFF (T3) </B>corresponding to the volume not delivered with the established quality shall not be paid
to the <B>DEVELOPER</B> unless <B>CEA</B> receives such <B>POTABLE WATER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">In the event of a delay exclusively attributable to the <B>DEVELOPER</B> after the <B>APP EFFECTIVENESS
COMMENCEMENT </B>and before the issuance of the <B>MINUTES OF COMMENCEMENT OF OPERATIONS</B>, provided that such implies a delay
in the term foreseen for the commencement of the <B>PERIOD OF OPERATIONS</B> and consequently, the <B>MINUTES OF COMMENCEMENT OF
OPERATION</B> are not executed, the <B>DEVELOPER</B> shall pay to <B>CEA</B> a conventional penalty equivalent to 100% (one hundred
percent) of the monthly T3 provided in the Format 8 of &ldquo;<B>EXHIBIT G</B>. Financial formats for the calculation of the <B>CONSIDERATION</B>&rdquo;
for each month of delay, or the corresponding proportion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">4.</TD><TD STYLE="text-align: justify">In the event that the <B>DEVELOPER</B> is not delivering any amount of <B>POTABLE </B>WATER due
to causes attributable to the <B>DEVELOPER</B>, a <B>CONVENTIONAL PENALTY</B> equivalent to 100% (one hundred percent) of the monthly
T2 provided in Format 7 of &ldquo;<B>EHXIBIT G</B>. Financial formats for the calculation of the <B>CONSIDERATION</B>&rdquo; for
each month of delay, or the corresponding proportion, shall be applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount of these expenses shall be updated
in accordance with the <B>INPC</B> from such base date, until the date in which the compliance is satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The payment of the conventional penalties
shall not release the <B>DEVELOPER</B> from any of its contractual obligations, or from complying with those in delay, irrespective
of the authority of <B>CEA</B> to rescind this <B>APP</B> in terms of <B>CLAUSE THIRTY FIRST</B> of this instrument. Notwithstanding,
the payment of the conventional penalties shall be the sole remedy of <B>CEA</B> payable by the <B>DEVELOPER</B> to <B>CEA</B>
as a consequence of the breach of the <B>DEVELOPER</B> and within the limits established in this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In each event of application of conventional
penalties, <B>CEA</B> shall notify in writing to the <B>DEVELOPER</B> the corresponding amount that it has to pay and the date
on which it must be delivered to <B>CEA</B>. In the event of breach of such date, <B>CEA</B> shall proceed to enforce the corresponding
guarantees in terms of <B>CLAUSE TWENTY EIGHTH.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The payment of the conventional penalties
mentioned in this <B>CLAUSE THIRTY FIFTH</B>, does not release the <B>DEVELOPER</B> from the liabilities for damages and losses
caused to third parties, including environmental damage, as well as of the sanctions and infractions mentioned in Titles Seventh
and Tenth of the National Waters Law and Title Tenth of its Regulations, or any other <B>APPLICABLE LAWS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The payment of the conventional penalties
that may be applied to the <B>DEVELOPER</B> as a result of the rescission of this <B>APP</B>, shall be binding to the <B>DEVELOPER</B>
provided that there is a definitive resolution obliging it to make such payment, which shall in no event exceed the <B>CONSTRUCTION
GUARANTEE</B> or the <B>OPERATION GUARANTEE</B>, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall pay to <B>CEA</B>
the amount resulting from the conventional penalties mentioned in this <B>CLAUSE THIRTY FIFTH</B> within a term of 30 (thirty)
<B>BUSINESS DAYS</B> counted as from the date of the written notification on its application by <B>CEA</B> to the <B>DEVELOPER,
</B>accompanied with the corresponding definitive resolution. This penalty may not be greater than the amount of the <B>CONSTRUCTION
GUARANTEE </B>or the <B>OPERATION GUARANTEE</B>, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that the <B>DEVELOPER</B>
does not cover the amounts of the conventional penalties in which it incurs within such term, <B>CEA</B> shall require their payment
to the bond company granting the <B>OPERATION GUARANTEE</B> or the <B>CONSTRUCTION GUARANTEE</B>, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of applicability of two or
more conventional penalties for the same event, the highest conventional penalty shall be applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY SIXTH.- LABOR LIABILITY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B>, as employer of the
personnel occupied as a result of the works subject-matter of this <B>APP</B>, shall be solely liable for the obligations arising
from the <B>APPLICABLE LAWS</B> in labor, safety and social welfare matters. All the activities and documents related to the compliance
of such obligations shall be informed and duly evidenced periodically by the <B>DEVELOPER</B> to <B>CEA</B>, when the latter requests
so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Therefore, the <B>DEVELOPER</B> agrees
to answer all the claims that its workers may file against it or against <B>CEA</B>, in connection with the execution of the <B>PROJECT
WORKS</B> or the performance of the services subject-matter of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon expiration of the term of this <B>APP</B>
for any reason, the <B>DEVELOPER</B> obliges itself to terminate the labor relationships that it has as of date, with the workers
at its service, paying the corresponding debts and indemnifications in terms of the applicable labor provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the early termination of the <B>APP</B>
arises from any cause not attributable to the <B>DEVELOPER</B>, but attributable to <B>CEA</B> (including without limitation the
early termination due to general interest reasons pursuant to section V of the Thirtieth Clause above), the expenses generated
by the payment of compensation to the workers shall be considered as part of the evidenceable expenses that <B>CEA</B> shall pay
to the <B>DEVELOPER</B>. On the other hand, in the event of early termination of this <B>APP</B> for any cause not attributable
to either party (including without limitation <B>ACTS OF GOD</B> or <B>FORCE MEJEURE EVENTS</B>), the expenses generated by severance
payments to the workers shall be covered in equal parts by the <B>DEVELOPER</B> and <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY SEVENTH.- ASSIGNMENT OF RIGHTS
AND SUBCONTRACTING.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> may not assign, transfer,
encumber, compromise or grant in guarantee, in any manner, totally or partially, the rights arising from this <B>APP</B>, without
the prior written authorization of <B>CEA</B>, except as provided in this <B>CLAUSE THIRTY SEVENTH</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In terms of the paragraph above, <B>CEA</B>
hereby authorizes the <B>DEVELOPER</B> to assign to the <B>ADMINISTRATION TRUST</B> the collection rights of the <B>DEVELOPER</B>
pursuant to this <B>APP</B>, including without limitation, the right to receive the <B>CONSIDERATION</B>. Likewise, <B>CEA</B>
hereby authorizes the <B>DEVELOPER</B> and its shareholders to affect in guarantee the shares representing the corporate capital
of the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> may subcontract the
<B>WORKS</B> or any of its obligations arising from this <B>APP</B>, prior written authorization of <B>CEA</B>, unless the <B>PROPOSAL</B>
had provided that the <B>DEVELOPER</B> would subcontract the <B>WORKS</B>, in which event, such previous authorization shall not
be required<B>. </B>Such authorization may only be denied by <B>CEA</B> when there is a justified cause, which is evidenced to
the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Irrespective of having the authorization
of <B>CEA</B> for the subcontracting, the <B>DEVELOPER</B> shall remain solely liable for the quality and adequate and timely execution
of the <B>WORKS</B> subject matter of this <B>APP</B>, as if such subcontracting had not occurred and therefore, shall ensure that
each Contractor complies with all the terms and conditions of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consent of <B>CEA</B> to subcontract
does not release or exempt the <B>DEVELOPER</B> from its responsibilities and obligations arising from this <B>APP</B>, therefore,
it shall be completely liable for the breaches, omissions and negligent acts in which one or all of the Contractors, their agents,
employees or personnel incur and shall keep <B>CEA</B> safe from any liability, loss or expense made for such cause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that the <B>DEVELOPER</B>
obtains from one of its contractors a guarantee for any of the works performed or executed, for a term longer than that of this
<B>APP</B>, it obliges to transfer to <B>CEA</B> the benefit of such guarantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as set forth in the paragraph above,
no direct legal relationships shall be generated between <B>CEA</B> and the contractors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY EIGHTH.- NOTICES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All the communications between the <B>PARTIES</B>
relating to the <B>APP</B>, shall be made in writing, with acknowledgement of receipt and delivered to the domicile of the receiver
party, mentioned in this <B>CLAUSE THIRTY EIGHTH:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>STATE WATER COMMISSION OF BAJA CALIFORNIA
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(&ldquo;CEA&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bulevar An&aacute;huac No. 1016, Col. El
Vidrio, C.P. 21080, Mexicali</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Baja California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>AGUAS DE ROSARITO, S.A.P.I. DE C.V.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(&ldquo;DEVELOPER&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Boulevard S&aacute;nchez Taboada 10488-801,
Zona R&iacute;o, Tijuana</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Baja California C.P. 22320</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any change to the mentioned domiciles shall
be notified to the other <B>PARTY</B> with at least 10 (ten) <B>BUSINESS DAYS</B> of anticipation. In the event that the <B>DEVELOPER</B>
omits notifying in writing to <B>CEA</B> any change of its domicile, the notices made by <B>CEA</B> in the domicile mentioned in
this <B>CLAUSE THIRTY EIGHTH</B> or in the last domicile notified in writing by the <B>DEVELOPER</B>, shall have all legal effects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be obliged to
notify <B>CEA</B> the name of its legal representative, to whom all communications related to the <B>APP</B> shall be addressed.
This representative shall have the sufficient authority to make the corresponding decisions, or to transfer to the administration
bodies of the <B>DEVELOPER,</B> the requirements related to the <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of any change of domicile,
the other <B>PARTY</B> shall be notified in writing, as it shall be understood that such change shall be effective as from the
date of written evidence of knowledge of the counterpart.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THIRTY NINTH.- DISCREPANCIES IN THE
INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of discrepancies in the information
or documents comprising the <B>APP,</B> the following shall apply. If the discrepancy arises:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">Between an original and its copies, the original shall prevail;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">Between the amounts written in letter and those written in number, the amounts written in letter
shall prevail;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">Between the clauses of the <B>APP</B> and its Exhibits, the provisions of the exhibits shall prevail,
except for the previous versions of this <B>APP</B> and any clarifications or documents related to such previous versions, which
shall have no effect over the clauses of this <B>APP</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">4.</TD><TD STYLE="text-align: justify">Between the <B>BASES OF THE PUBLIC BIDDING</B> and the <B>APP</B>, the <B>APP</B> shall prevail;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">5.</TD><TD STYLE="text-align: justify">Among the Exhibits of this <B>APP</B>, they shall prevail in the appearing order in <B>CLAUSE FORTY
FIRST</B> of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be liable for
the calculation errors made in the preparation of the documents in its charge or under its responsibility. If applicable, the calculation
errors shall be corrected in the manner that results consistent with the purpose of the <B>APP</B>, pursuant to the <B>APPLICABLE
LAWS</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Exhibits that exist at the moment of
execution of this <B>APP</B> or those prepared afterwards shall form an integral part of the <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> accept that any agreement
or provision contained in this <B>APP</B> which results contrary to any public order provision shall be considered as inexistent
and shall not affect the validity of the other terms and conditions of the <B>APP</B>. When legally possible, the <B>PARTIES</B>
shall carry out all applicable actions to substitute the invalid terms and conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTIETH.- ARBITRATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All disputes arising out of or in connection
with this <B>APP</B>, shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce (the &ldquo;<B>REGULATIONS
OF THE CCI&rdquo;</B>), valid at the moment of execution of this agreement, which are deemed incorporated to this clause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The place of arbitration shall be solely
and exclusively the City of Mexicali, Baja California, United States of Mexico, without the <B>PARTIES</B> being submitted to the
discretional authority of the arbitration tribunal of carrying out hearings and meetings anywhere it considers appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Parties agree that the applicable legislation
shall be the <B>LAPPEBC</B> and its Regulations and other valid applicable laws in Mexico.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The language to be used in the arbitration
procedure shall be Spanish.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The number of the arbitrators shall be
3 (three), designated pursuant to the <B>REGULATIONS OF THE CCI</B>, provided that the third arbitrator, who shall act as Chairman,
shall be designated by the other two co-arbitrators, designated by the <B>PARTIES</B>. In the event that the two first co-arbitrators
do not designate the third arbitrator within the 30 <B>CALENDAR DAYS</B> following the confirmation of the second co-arbitrator,
such arbitrator shall be designated pursuant the <B>REGULATIONS OF THE CCI</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The arbitration award shall be final and
binding for the <B>PARTIES</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> expressly agree that,
irrespective of who commences the arbitration, the <B>DEVELOPER </B>shall anticipate all the fees of the arbitrators and the administrative
expenses of the International Court of Arbitration of the International Chamber of Commerce. Irrespective of whether the arbitration
award grants the payment of other claims in its favor, the arbitration tribunal may only grant costs and expenses in favor of the
<B>DEVELOPER</B> when:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The actions or defenses of <B>CEA</B> are considered unfounded, frivolous or reckless; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">That the conduct of <B>CEA</B> in the procedure was inappropriate and unconducive in such a manner
that the arbitral tribunal considers justified to order the indemnification to the <B>DEVELOPER</B> for the costs and expenses
incurred due to the arbitration procedure.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as otherwise provided in this <B>APP</B>
or as agreed by the <B>PARTIES</B>, irrespective of the commencement or the procedure of an arbitration, each of the <B>PARTIES</B>
shall be obliged to continue complying with its obligations pursuant to this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTY FIRST.- EXHIBITS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES</B> acknowledge as integral
part of this <B>APP</B> the following Exhibits listed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 13</B></TD><TD STYLE="text-align: justify">Initial Tariffs and Adjustments to the Amount of the <B>CONSIDERATION</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 4</B></TD><TD STYLE="text-align: justify"><B>PROPOSAL</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 1</B></TD><TD STYLE="text-align: justify"><B>CALL</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 2</B></TD><TD STYLE="text-align: justify"><B>AWARD</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 3</B></TD><TD STYLE="text-align: justify"><B>CERTIFIED COPY OF THE CHARTER OF INCORPORATION OF THE
DEVELOPER</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 5</B></TD><TD STYLE="text-align: justify">Scope of the Works of the <B>TERMS OF REFERENCE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 6</B></TD><TD STYLE="text-align: justify"><B>QUALITY ASSURANCE HANDBOOK</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 7</B></TD><TD STYLE="text-align: justify">Protocol of <B>TESTS </B>and <B>SET-UP OF OPERATIONS</B>
of the <B>SYSTEM</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 8</B></TD><TD STYLE="text-align: justify">Proposed <B>CALENDARED SCHEDULE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 14</B></TD><TD STYLE="text-align: justify">Quality of the <B>POTABLE WATER</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 16</B></TD><TD STYLE="text-align: justify">Concessions, Authorizations, Licenses and Permits</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 17</B></TD><TD STYLE="text-align: justify">Procedure for the <B>DELIVERY</B> of the <B>SYSTEM</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 18</B></TD><TD STYLE="text-align: justify">Regulations to measure the quality and quantity of the
<B>INTAKE WATER, POTABLE WATER</B> and <B>WASTE WATER</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 9</B></TD><TD STYLE="text-align: justify"><B>[Intentionally left blank].</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 10</B></TD><TD STYLE="text-align: justify"><B>[Intentionally left blank].</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 11</B></TD><TD STYLE="text-align: justify"><B>[Intentionally left blank].</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 12</B></TD><TD STYLE="text-align: justify"><B>[Intentionally left blank].</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.8pt; text-align: justify; text-indent: -70.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>EXHIBIT 15</B></TD><TD STYLE="text-align: justify"><B>[Intentionally left blank].</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Likewise, they acknowledge as an integral
part of this <B>APP</B> the documents that shall hereinafter be included in the progressive numerical order, identified as <B>EXHIBITS</B>
and duly executed by both <B>PARTIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTY SECOND.- PUBLIC NATURE OF THE
PUBLIC PRIVATE PARTNERSHIP AGREEMENT APP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This <B>APP</B> is of public order and
does not lose its nature for the participation of the <B>DEVELOPER</B>, as the services that it shall perform in terms of <B>CLAUSE
FIRST</B> of this <B>APP</B>, are of social interest as they shall provide <B>CEA</B> better efficiency in the rendering of the
public service of supply of <B>POTABLE WATER</B> which corresponds to the State of Baja California to provide to the community.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FOURTY THIRD.- AMENDMENTS TO THE APP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The considerations mentioned in the <B>PROPOSAL</B>
shall be responsibility of the <B>DEVELOPER</B>; therefore, if at the moment of preparing the <B>EXECUTIVE PROJECT</B>, amendments
or variations to the <B>PROPOSAL </B>are required, different to <B>CHANGES IN LAW</B> or any other circumstances established in
this <B>APP</B>, in the quality or quantity of the <B>POTABLE WATER</B>, all the adjustments for the compliance therefore shall
be at its expense, except for those required by <B>CEA</B>, and shall be governed by articles 106 and 107 of the <B>LAPPEBC</B>.
To that effect, the <B>DEVELOPER</B> shall be entitled to propose the necessary adjustments to <B>CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amendments arising from technological
innovations shall be governed pursuant to the provisions of Clause Sixth of this APP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that, in the future there
are <B>CHANGES IN LAW</B> or circumstances resulting in greater requirements in the quality or quantity of the <B>POTABLE WATER</B>
arise after the execution of the <B>APP</B>, <B>CEA</B> shall, at the request of the <B>DEVELOPER</B>, carry out amendments thereto
or to the <B>APP </B>pursuant to the proposal of the <B>DEVELOPER,</B> to adjust it to the new circumstances, laws or normativity;
which the <B>DEVELOPER</B> obliges itself to implement, provided that there is a written agreement of both <B>PARTIES</B> regarding
the manner in which the foregoing shall be carried out, the impact that it could have on the <B>CONSIDERATION </B>or in the term
of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Likewise, with the purpose of reestablishing
the economic equilibrium of the project in terms of article 108 of the <B>LAPPEBC</B>, the <B>DEVELOPER</B> shall be entitled to
the review of the <B>APP</B> when, as a result of a <B>CHANGE IN LAW</B>, the cost of execution of the <B>PROJECT</B> is substantially
increased, or the benefits in its favor are reduced, also substantially.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For such purposes, it is understood that
the mentioned variations are substantial when they are durable (that is, they persist for more than 5 (five) <B>BUSINESS DAYS</B>)
and place at risk the financial viability of the <B>PROJECT</B> (that is, that they represent any change in the financial conditions
considered in the <B>PROPOSAL</B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Likewise, the <B>APP </B>shall be reviewed
when due to a <B>CHANGE IN LAW</B> there is an economic disequilibrium thereof, which implies a yield for the <B>DEVELOPER</B>
greater than the one provided in its <B>ECONOMIC PROPOSAL</B> and in this <B>APP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If <B>CEA </B>does not answer the proposal
of the <B>DEVELOPER</B> in an affirmative manner within the 15 <B>CALENDAR DAYS</B> following its submittal, or disagrees with
the estimate adjustment proposed by the <B>DEVELOPER</B> and after making a reasonable and good faith effort, the <B>PARTIES</B>
are unable to agree an adjustment that allows the <B>DEVELOPER</B> to reestablish the economic situation in which it was before
the <B>CHANGE IN LAW</B>, or to carry out the necessary adjustments in the <B>CONSIDERATION</B>, any of the Parties may, within
the 2 (two) <B>BUSINESS DAYS </B>following the notice of the corresponding proposal, submit the controversy to the procedure established
in Clause Fortieth of this <B>APP</B>. The <B>CONSIDERATION</B> may be adjusted while the disagreement is being resolved, but in
any event, the adjustments shall be retroactive from the date on which the costs of the <B>DEVELOPER</B> had increased or diminished
as a result of the <B>CHANGE IN LAW</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If a <B>CHANGE IN LAW</B> cannot be remedied
even through an adjustment in the <B>CONSIDERATION, </B>pursuant to that certified within the procedure established in Clause Thirty
Fourth, such event shall constitute a <B>FORCE MAJEURE EVENT</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purposes set forth in this Clause,
the <B>DEVELOPER</B> shall not be liable for the noncompliance of any of its obligations arising from the <B>APP</B> to the extent
and for as long as such compliance is not possible as a result of the acts that the <B>DEVELOPER</B> shall necessarily adopt to
comply with a <B>CHANGE IN LAW</B>, in the understanding that the <B>DEVELOPER</B> shall make its best efforts and act with due
diligence to, as soon as possible, conclude the actions required in accordance with the prudent practices of the industry to comply
with the <B>CHANGE IN LAW</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTY FOURTH.- CONDITIONS FOR THE COMMENCEMENT
OF EFFECTIVENESS OF THE APP </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This <B>APP</B> shall be binding for the
<B>DEVELOPER</B> and for <B>CEA</B> from the date on which each and all of the following conditions are met:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">The incorporation, registration and effectiveness of the <B>ADMINISTRATION TRUST</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">The incorporation, registration and effectiveness of the <B>MASTER GUARANTEE TRUST,</B> as well
as the affectation of the corresponding percentage of the income arising from the tax on personal remuneration, in terms of transitory
article eighteenth of the Income Law of the State for 2016 to the assets of such <B>MASTER GUARANTEE TRUST,</B> which shall occur,
at the latest within the 3 (three) months following the date of execution of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">That the <B>DEVELOPER</B> has obtained the permits and authorizations for the use of the <B>RIGHT
OF WAY</B>, in terms of <B>CLAUSE EIGHTH</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">4.</TD><TD STYLE="text-align: justify">That <B>CEA</B> has obtained the rights required for the collection, use and exploitation of the
<B>INTAKE WATER</B>, in terms of <B>CLAUSE FIFTEENTH</B>, which shall occur, at the latest, within the 4 (four) months following
the date of execution of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">5.</TD><TD STYLE="text-align: justify">The execution of the <B>WATER PURCHASE AND SALE AGREEMENT </B>and the contribution of the collection
rights of <B>CEA</B> thereunder, to the <B>ADMINISTRATION TRUST</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">6.</TD><TD STYLE="text-align: justify">The execution, registry and effectiveness of the <B>CURRENT ACCOUNT LOAN </B>and the contribution
of the rights arising therefrom to the <B>ADMINISTRATION TRUST, </B>which shall occur within the 6 (six) months following the date
of execution of this <B>APP</B>, as well as evidence that the <B>CURRENT ACCOUNT LOAN</B> has been registered within the <B>MASTER
GUARANTEE TRUST</B> with the purpose of having the <B>SPF</B> guarantee possible liquidity shortfalls of <B>CEA</B> in terms of
this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">7.</TD><TD STYLE="text-align: justify">The hiring of the <B>SUPERVISION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">8.</TD><TD STYLE="text-align: justify">Obtaining the authorizations and permits necessary for the discharge of the <B>WASTE WATER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">9.</TD><TD STYLE="text-align: justify">The execution of the <B>FINANCIAL AGREEMENTS </B>that allow the <B>DEVELOPER</B> access to the
necessary resources to comply with its obligations under this <B>APP</B>. The foregoing in the understanding that if the failure
to execute the <B>FINANCIAL AGREEMENTS</B> is outside the reasonable control of the <B>DEVELOPER</B>, is not attributable to its
guilt or negligence, and could not have been avoided despite the exercise of due diligence, the <B>DEVELOPER</B> may claim the
existence of an <B>ACT OF GOD</B> or a <B>FORCE MAJEURE EVENT</B> in terms of this <B>APP</B> .</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless the <B>PARTIES</B> agree an extension
in writing, in the event that the conditions mentioned in sections 2 and 6 above are not met within the terms established for such
purpose, this <B>APP</B> may be early terminated by the <B>DEVELOPER</B>, without any liability, and being entitled to the reimbursement
of the expenses and investments carried out by the <B>DEVELOPER</B> or incurred and pending of amortization, calculated based on
the corresponding receipts submitted by the <B>DEVELOPER</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTY FIFTH.- ADMINISTRATION TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> and <B>CEA</B> oblige
themselves to incorporate the <B>ADMINISTRATION TRUST</B> in (<B>BANK)</B>, which shall have, among other, the following purposes:
a) to administer all the resources arising from the <B>CONSIDERATION</B>, as well as the <B>RISK CAPITAL</B> and the resources
arising from the <B>FINANCIAL AGREEMENTS</B>; b) to receive the resources arising from the <B>WATER PURCHASE AND SALE AGREEMENT</B>
to pay the <B>CONSIDERATION</B> in the manner and terms mentioned in this <B>APP</B> and in the <B>ADMINISTRATION TRUST</B>; c)
the administration and management of all the necessary resources or those directly or indirectly related with the preparation of
the <B>EXECUTIVE PROJECTS</B>, the construction, equipment and set-up of operations of the <B>SYSTEM</B>, as well as with the operation,
conservation and maintenance of the <B>SYSTEM</B>; and d) the administration, management and disposal of the resources arising
from the <B>CURRENT ACCOUNT LOAN, </B>which right of disposition shall also be affected to the <B>ADMINISTRATION TRUST</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> obliges itself to
deposit into the assets of the <B>ADMINISTRATION TRUST</B>, the <B>RISK CAPITAL</B> and the resources from the <B>FINANCIAL AGREEMENTS</B>
or the rights over them, as well as all the income arising from the <B>CONSIDERATION</B> and to be subject to the priority and
conditions for its disposition established therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTY SIXTH.- TOTAL COST OF THE SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>TOTAL COST OF THE SYSTEM</B>, pursuant
to all the terms and conditions included in this <B>APP</B> and its Exhibits, is of $<FONT STYLE="font-size: 10pt">9,072&rsquo;882,279.00
(nine billion, seventy two million, eight hundred and eighty two thousand, two hundred and seventy </FONT> pesos/100 Mexican Currency)
without IVA, in values of February, 2016. The <B>TOTAL COST OF THE SYSTEM</B> is comprised by the <B>COST OF THE SYSTEM</B> and
the <B>COST OF THE WORKS</B>, and shall be adjusted and updated pursuant to <B>EXHIBIT 13</B> of this <B>APP</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>COST OF THE SYSTEM</B> shall be
integrated by the <B>PROJECT WORKS,</B> the <B>SUPERVISION </B>and Other Costs in accordance with the following items and values:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">DESALINATION PLANT</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">ITEM</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Grand Total</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">First Stage <BR>
Total</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Second Stage <BR> Total</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center; text-indent: -0.25in; padding-left: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Project</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; text-indent: -0.25in; padding-left: 0.5in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Preparation of the Executive Project, including: Engineering, complementary and detailed studies, projects, affected land occupancy; except for the area on which the Plant shall be located, filings and procedures or the required authorizations, etc.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; font-weight: bold; padding-bottom: 1pt">Total</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">129,378,662</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">85,999,912</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">43,378,750</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Construction
    and Equipment</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Land and Right of Way</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">466,560,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">466,650,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Reimbursement Certificate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,314,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,314,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Preoperative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">322,750,433</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">228,885,498</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">93,864,935</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Collection and plant conduction Works</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">371,509,567</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">327,705,931</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,803,636</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Pretreatment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,246,358,473</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">611,205,745</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">635,152,727</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Plant Civil Works</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">537,393,815</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">271,443,166</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">265,950,649</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Inverse Osmosis Equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,466,081,043</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">653,210,705</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">812,870,338</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Post-treatment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">230,898,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121,389,384</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109,509,091</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Aqueduct Pumping Equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">246,022,009</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">167,801,230</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78,220,779</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Aqueduct</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,295,107,503</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">888,359,451</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">406,748,052</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Tank 3 Expansion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91,134,127</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,845,815</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,288,312</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Delivery Point(s) Connection(s)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66,103,477</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,845,815</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,257,662</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Waste Water Conduction Line</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,135,127</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">30,135,127,</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Other Items</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">167,533,040</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">136,244,728</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,288,312</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Electric lines, substation and control</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">941,570,222</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">537,951,001</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">403,619,221</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Tests, Testing Equipment and Set-up of Operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">368,660,761</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">212,219,202</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">156,441,558</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Activities prior to the commencement of operations, systems implementation: for the attention of contingencies, quality assurance industrial security, environmental protection, etc., preparation and delivery of the finished works blueprints.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">84,887,681</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">84,887,681</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">0</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Project Works Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">7,963,020,254</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,888,004,980</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,075,015,274</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; text-indent: -0.25in; padding-left: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supervision of Items (1+2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">161,847,978</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99,480,098</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">62,367,880</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center; text-indent: -0.25in; padding-left: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Other costs included</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">271,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">181,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; text-indent: -0.25in; padding-left: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of the System</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,525,746,895</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,254,484,991</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,271,261,904</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 91; Value: 1 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>COST OF THE WORKS</B> is comprised
by the following items and values:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costs of the Works</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Administration Trust Fees</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,400,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">3,600,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,800,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Loan letter, Insurances and Bonds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Financial Commissions</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">491,735,384</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">328,317,806</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">163,417,578</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">547,135,384</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">361,917,806</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">185,217,578</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; text-indent: -0.25in; padding-left: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Cost of the System</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,072,882,279</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,616,402,797</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,456,479,482</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These resources shall come, in the first
stage of the <B>PROJECT,</B> from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">The <B>RISK CAPITAL</B>, equivalent to 20.58% of the <B>TOTAL COST OF THE SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">The <B>FINANCIAL AGREEMENTS</B>, equivalent to the 79.42% of the <B>TOTAL COST OF THE SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">These contributions shall be made according to the <B>CALENDARED SCHEDULE</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These resources shall come, in the second
stage of the <B>PROJECT</B>, from:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">The <B>RISK CAPITAL</B>, equivalent to 20.82% of the <B>TOTAL COST OF THE SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">The <B>FINANCIAL AGREEMENTS</B>, equivalent to the 79.18% of the <B>TOTAL COST OF THE SYSTEM</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding that the <B>DEVELOPER</B>
does not consider within the amount of the <B>TOTAL COST OF THE SYSTEM</B> a specific category for the <B>IVA</B>, the amounts
for this contribution caused and which are related to this <B>APP</B>, shall be financed as long as it does not recover them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTY SEVENTH.- MAXIMUM LIMIT OF LIABILITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except for those specific limits established
in this <B>APP</B>, in any event the liability of the <B>DEVELOPER</B> in connection with this <B>APP</B> shall in no event exceed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">(a)</TD><TD STYLE="text-align: justify">During the <B>INVESTMENT PERIOD</B> and until the <B>DATE OF COMMENCEMENT OF OPERATIONS</B>, the
total amount of liability of the <B>DEVELOPER</B> shall be the total amount of the <B>CONSTRUCTION GUARANTEE</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">(b)</TD><TD STYLE="text-align: justify">As from the <B>DATE OF COMMENCEMENT OF OPERATIONS</B> and until the date of <B>DELIVERY</B> of
the <B>SYSTEM</B> regardless the cause therefor, the total amount of liability of the <B>DEVELOPER</B> shall be the total amount
of the <B>OPERATION GUARANTEE</B>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FORTY EIGHTH.- OBLIGATIONS OF THE DEVELOPER.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Regardless of the other obligations assumed
by the <B>DEVELOPER</B> in the <B>APP</B>, the latter is obliged to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Negotiate and obtain, as well as to maintain in full force and effect, each and every authorizations,
licenses, permits and analogous documents pursuant to the <B>APPLICABLE LAWS</B> required for the compliance of its obligations
pursuant to this <B>APP</B> expressly established in <B>EXHIBIT 16</B> of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Obtain the construction materials, as well as the equipment and materials necessary for the operation,
conservation and maintenance of the <B>SYSTEM</B>, new and in compliance with the <B>APPLICABLE LAWS</B> and the quality standards
established in the handbooks and protocols drafted by the <B>DEVELOPER </B>and attached hereto as <B>EXHIBITS</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Refrain from assigning, mortgaging, transferring or encumbering
in any way in favor of third parties, whether individuals or companies, the rights, assets and obligations arising from this <B>APP
</B>and its Exhibits, without the previous and express written approval of <B>CEA,</B> except as expressly provided in this <B>APP.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">Execute, as sole responsible before <B>CEA</B>, the <B>WORKS OF THE PROJECT</B> pursuant to this
<B>APP</B> and its Exhibits.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Subject itself to the safety provisions established in the workplace, in the terms requested in
the <B>CALL </B>or established in its <B>PROPOSAL</B>, as well as the <B>APPLICABLE LAWS</B> in construction, safety and use of
public roads matters in force at the date of the <B>BASES OF THE PUBLIC BIDDING</B>; any regulatory modifications on this regard,
shall be governed pursuant to <B>CLAUSE FORTY THIRD</B> of this <B>APP.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Answer for the damages and losses, direct and material, expressly excluding loss of profit and
indirect damages (that is, loss of profit and/or income that a party might have obtained if the other party had duly and fully
complied with its obligations, understanding as such, without limitation, the production, financial and hiring losses) or consequential
damages, as well as those that are covered by the insurances hired by the <B>DEVELOPER</B>, that are caused to <B>CEA</B> or to
third parties, as a result of the execution of the <B>PROJECT WORKS</B> or during the operation of the <B>SYSTEM</B>. The risks
of the works until the moment of their delivery to <B>CEA</B> shall be in charge of the <B>DEVELOPER</B>, who shall hire the insurances
mentioned in <B>CLAUSE TWENTY SEVENTH</B> of this <B>APP</B> for such purposes. The liability of the <B>DEVELOPER</B> under this
section may not exceed the amount of the hired insurances.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Repair or replace, at its expense, the equipment and facilities of the <B>SYSTEM</B> at the expiration
of their useful life throughout the term of the <B>APP</B>; to answer for hidden defects for the operation, maintenance and replacement
of its equipment, within the 12 (twelve) months following the date of termination of this <B>APP</B> and reception of the <B>SYSTEM</B>
by <B>CEA</B>, considering the ordinary wear and tear of the facilities and equipment. The liability mentioned in this section
shall be covered by the <B>DEVELOPER</B> through the granting of the <B>APP TERMINATION GUARANTEE</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">The <B>DEVELOPER</B> shall allow the personnel previously appointed in writing by <B>CEA</B> and
previously authorized by the <B>DEVELOPER</B> at its entire discretion, to have free access during all the <B>OPERATION PERIOD</B>
to the facilities of the <B>SYSTEM,</B> to carry out the inspection and control of the monitoring and improvements in the treatment
process, pursuant to the provisions of this <B>APP.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">Design, construct and hydraulically operate the components of the <B>SYSTEM</B> established in
sections II.2.1 and II.2.2 of Chapter II Technical Specifications referred to in <B>APPENDIX 1: TERMS OF REFERENCE </B>of the <B>BASES
OF THE PUBLIC BIDDING</B> for purposes of the development of the <B>PROJECT</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORTY NINTH.- LIABILITY FOR THE QUANTITY
AND QUALITY OF THE WATER.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be liable before
<B>CEA</B> for the continuous and efficient operation of the <B>SYSTEM</B> according to this <B>APP</B>, being its sole liability
to cover any damage or injury, expressly excluding loss of profit and indirect damages (that is, loss of profit and/or income that
a party might have obtained if the other party had duly and fully complied with its obligations, understanding as such, without
limitation, the production, financial and hiring losses) or consequential damages, as well as those that are covered by the insurances
hired by the <B>DEVELOPER </B>incurred by <B>CEA,</B> that is direct and immediate consequence of the inadequate or deficient operation
of the <B>SYSTEM</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>DEVELOPER</B> shall be exempted
from the liability referred to in the paragraph above, when the breach to the amount of water to be pumped, conducted or potabilized
is a consequence of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">A direct instruction of <B>CEA</B>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">The <B>SYSTEM</B> being in a conservation or maintenance period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">Events arising from <B>ACTS OF GOD</B>, <B>FORCE MAJEURE EVENTS</B> or <B>CHANGE IN LAW</B> which
include, without limitation, the following:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">a.</TD><TD STYLE="text-align: justify">Interruption of the electric energy supply</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">b.</TD><TD STYLE="text-align: justify">The material impossibility of pumping <B>INTAKE WATER</B>, arising from acts of third parties or
from the prohibition by any authority.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 16.9pt">c.</TD><TD STYLE="text-align: justify">That the <B>INTAKE WATER</B> does not comply with the minimum quality and conditions established
in the <B>PROPOSAL</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FIFTIETH.- CONFIDENTIALITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the conclusion of the term of the
<B>APP</B>, the <B>DEVELOPER</B> shall be obliged to transfer in favor of <B>CEA</B> the rights of use over the industrial property
implying the technology and equipment used in the pumping and conduction of water, subject-matter of this <B>APP </B>(with respect
to which the <B>DEVELOPER</B> has the right to do so), in the terms that allow <B>CEA</B> to operate the <B>SYSTEM</B> adequately
and exclusively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The assets affected to the subject-matter
of this <B>APP</B> may not be used for purposes other than those set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FIFTY FIRST.- OBLIGATIONS OF CEA</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Regardless of the other obligations assumed
by <B>CEA</B> in this <B>APP</B>, it is obliged to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">1.</TD><TD STYLE="text-align: justify">Support the <B>DEVELOPER</B> in the negotiation of the <B>FINANCIAL AGREEMENTS</B>, permits, licenses
and authorizations that the <B>DEVELOPER</B> is obliged to obtain for the execution of the <B>PROJECT WORKS</B> and services subject
matter of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">2.</TD><TD STYLE="text-align: justify">Guarantee to the <B>DEVELOPER</B> throughout the term of this <B>APP</B>, the use of the real estate
for the construction, equipment and set-up of operations of the <B>PROJECT.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">3.</TD><TD STYLE="text-align: justify">Carry out the procedures to obtain, as well as to maintain in full force and effects, each and
every authorizations, licenses, permits and analogous that, pursuant to the <B>APPLICABLE LAWS,</B> are required to obtain the
<B>INTAKE WATER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">4.</TD><TD STYLE="text-align: justify">Negotiate with the <B>SPF</B> the creation and registry of the <B>MASTER GUARANTEE TRUST</B>, as
well as the affectation of the rights corresponding to it.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">5.</TD><TD STYLE="text-align: justify">Pay the <B>CONSIDERATION</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">6.</TD><TD STYLE="text-align: justify">Contribute to the <B>ADMINISTRATION TRUST</B> the collection rights and the resources corresponding
to such rights, arising from the <B>WATER PURCHASE AND SALE AGREEMENT</B>, to be destined to the payment of the <B>CONSIDERATION</B>,
in terms of this <B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">7.</TD><TD STYLE="text-align: justify">Execute the <B>WATER PURCHASE AND SALE AGREEMENT</B> with <B>CESPT</B>, with the purpose of <B>CEA</B>
obtaining the necessary and sufficient resources to pay to the <B>DEVELOPER</B> the payment of the <B>CONSIDERATION</B> in this
<B>APP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">8.</TD><TD STYLE="text-align: justify">Execute and cause the <B>CURRENT ACCOUNT LOAN</B> to come into effect<B>, </B>contributing to the
<B>ADMINISTRATION TRUST</B> the rights of disposition of such <B>CURRENT ACCOUNT LOAN</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">9.</TD><TD STYLE="text-align: justify">Entrust the trustee of the <B>ADMINISTRATION TRUST</B> the hiring of the <B>SUPERVISION.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">10.</TD><TD STYLE="text-align: justify">Register this <B>APP</B> and the obligations related thereto or arising therefrom, including without
limitation the <B>CURRENT ACCOUNT LOAN</B>, before the Sole Public Registry established in the Law of Financial Discipline of the
Federal Entities and Municipalities, in charge of the <B>SHCP</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 17.45pt">11.</TD><TD STYLE="text-align: justify">Have the sufficient capacity to receive the annual guaranteed volume of <B>POTABLE WATER</B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FIFTY SECOND.- HEADINGS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The headings of the clauses have been established
with the sole purpose of facilitating their reading and comprehension; however, they do not prejudge on the content thereof or
cause any obligation to the <B>PARTIES</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FIFTY THIRD.- UNCONDITIONAL ACCEPTANCE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The execution of this <B>APP</B>, including
its formalization before notary public, implies the complete and unconditional acceptance of its terms by the <B>PARTIES</B>, who
are aware of all of their consequences and scope.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>PARTIES, </B>being aware of the
content and scope of this <B>APP</B> and its Exhibits execute it in conformity, in duplicate, in the City of Mexicali, Baja California,
on the 22nd day of August of 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>BY THE BAJA CALIFORNIA STATE WATER COMMISSION</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BY THE DEVELOPER</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGUAS DE ROSARITO, S.A.P.I. DE C.V.</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MR. GERM&Aacute;N JES&Uacute;S LIZOLA
        M&Aacute;RQUEZ</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GENERAL DIRECTOR</B></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MR. MICHAEL AVANT SMITH</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CHAIRMAN OF THE BOARD OF DIRECTORS</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 49%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BY THE DEVELOPER</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGUAS DE ROSARITO, S.A.P.I. DE C.V.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD>
    <TD STYLE="text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 49%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BY THE DEVELOPER</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.35pt; text-align: center"><B>AGUAS DE ROSARITO, S.A.P.I.
        DE C.V.</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MR. FREDERICK W. MCTAGGART</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MEMBER OF THE BOARD OF DIRECTORS</B></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MR. LAUTARO MANUEL MILLAMAN-TERUEL</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ALTERNATE MEMBER OF THE BOARD OF <BR>
DIRECTORS</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>BY THE MINISTRY OF PLANNING AND FINANCE OF THE STATE</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>JOINT OBLIGOR TIJUANA STATE COMMISSION OF PUBLIC UTILITIES</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MR. ANTONIO VALLADOLID RODR&Iacute;GUEZ</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECRETARY OF PLANNING AND FINANCE OF
        THE STATE OF BAJA CALIFORNIA </B></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MR. MIGUEL LEMUS ZENDEJAS</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GENERAL DIRECTOR</B>,</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WITNESS</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MINISTRY OF INFRASTRUCTURE AND URBAN
        DEVELOPMENT OF THE STATE</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MR. MANUEL GUEVARA MORALES</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECRETARY</B></P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CALL 002 / 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AWARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PUBLIC DEED OF THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&ldquo;AGUAS DE ROSARITO, S.A.P.I. DE
C.V.&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>COMMITMENT LETTER FROM THE PROPOSAL WITH
EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>APPENDIX 1.- TERMS OF REFERENCE OF THE
BASSES OF THE PUBLIC BIDDING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>QUALITY ASSURANCE HANDBOOK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PROTOCOL OF TESTS AND SET-UP OF OPERATIONS
OF THE SYSTEM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PROPOSED CALENDARED SCHEDULE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 9</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[Intentionally left blank]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 10</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[Intentionally left blank]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 11</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[Intentionally left blank]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 12</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[Intentionally left blank]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 13</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INITIAL TARIFFS AND ADJUSTMENT TO THE
AMOUNT OF THE CONSIDERATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 14</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>POTABLE WATER QUALITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="sidue_logo.jpg" ALT=""></TD><TD STYLE="width: 50%; font-size: 10pt; text-align: right"><IMG SRC="cea_logo.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 15</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[Intentionally left blank]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 112; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="sidue_logo.jpg" ALT=""></TD><TD STYLE="width: 50%; font-size: 10pt; text-align: right"><IMG SRC="cea_logo.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ENVIRONMENTAL IMPACT STATEMENT AND OTHER
ENVIRONMENTAL PERMITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 113; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="sidue_logo.jpg" ALT=""></TD><TD STYLE="width: 50%; font-size: 10pt; text-align: right"><IMG SRC="cea_logo.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 17</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PROCEDURE FOR THE DELIVERY OF THE SYSTEM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 114; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="sidue_logo.jpg" ALT=""></TD><TD STYLE="width: 50%; font-size: 10pt; text-align: right"><IMG SRC="cea_logo.jpg" ALT="">&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PUBLIC BIDDING No.: <B>SIDUE-CEA-APP-2015-002.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">AGREEMENT No.: <B>C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: white 4.5pt solid; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>PUBLIC PRIVATE
PARTNERSHIP AGREEMENT</B> for the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B>&ldquo;CONSTRUCTION,
FINANCING AND OPERATION OF A SEAWATER DESALINATION PLANT IN THE MUNICIPALITY OF PLAYAS DE ROSARITO&rdquo;.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>EXHIBIT TO THE PUBLIC PRIVATE PARTNERSHIP
AGREEMENT No. C-SIDUE-CEA-APP-2015-002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>No. 18</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REGULATIONS FOR THE MEASUREMENT OF THE
QUALITY AND QUANTITY OF THE INTAKE WATER, POTABLE WATER AND WASTE WATER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>This exhibit shall be included afterwards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
