Article 10

Applicants shall be informed individually of the outcome of their applications by the competent body as soon as the decision referred to in Article 9 (2) is notified to the Member State.

The competent bodies shall conclude contracts for the selected measures with the successful applicants within one month of notification of the decision to the Member State.

To that end the bodies shall use the standard contract referred to in Article 8 (4) (a).

The contract shall not take effect until a security is lodged in favour of the competent body equal to 15 % of the amount of the Community financing, in order to ensure proper execution.

If proof of the lodging of the security has not been received by the competent body within two weeks of the date of conclusion of the contract, the latter shall be void and shall not have any legal effect.

Securities shall be lodged in accordance with Commission Regulation (EEC) No 2220/85^f1.

The primary requirement within the meaning of Article 20 of that Regulation shall be the implementation within the time limits laid down of the measures contained in the contract referred to in paragraph 2.

Failure to comply with the primary requirement or serious failure to comply with the undertakings listed in Article 8 (4) shall result in the contract being terminated.