Attached files
| file | filename |
|---|---|
| 8-K - China Agri-Business, Inc. | v203058_8k.htm |
Land
Leasing Contract
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Lessor
(Party A):
|
WAN
Quanli, Liu Hongzhi (Xi’an ShishangWeiyang Investment & Management,
Inc.)
|
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Lessee
(Party B):
|
Shaanxi
Xinsheng Centennial Agriculture & Technology Co.,
Ltd.
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Pursuant to the relevant provisions of
the Land-Leasing Law of People’s Republic of China and the Contract Law of
People’s Republic of China, Party A and Party B, through mutual consultations,
hereby enter this contract as follows：
|
Article
1
|
Location
of the Leased Land.
|
The land
is an area of 24 mu south of Xi’an Shishang Weiyang Investment &Management,
Inc. Party B may use this land for constructing facilities oflogistics,
warehouse and processing center.
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Article
2
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Land
Leasing Term and Rent.
|
|
1.
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The
term of the lease is twenty-one (21) years, starting from the execution
date of this contract.
|
|
2.
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The
leased land covers an area of 24 mu, and the rent is 15,000
yuan (RMB Fifteen Thousand) per mu.
|
|
3.
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The
rent for the land of 24 mu is 360,000 yuan (RMB Three hundred and Sixty
Thousand) per year, which shall be paid every ten
years.
|
|
Article
3
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Rent
and Payments.
|
|
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The
leasing period starts from November 12, 2010 to November 11, 2031, a total
of 21 years. The rent stipulated herein will be increased by 12% every
three years, starting the 10th
year after this contract becomes effective (while the progressive increase
rate will be based on the rent per mu
).
|
|
Article
4
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Within
three days after the contract is signed, Party B shall first pay a deposit
of 200,000 yuan to Party A, while the remaining amount (a total of RMB 3.4
million) must be paid in a lump sum within 15 days after
that.
|
|
Article
5
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Party
B may start self-directed constructions on the date of its first rent
payment. If the land is not available for the construction, Party A bears
all liabilities and shall return any rent amount Party B has
paid.
|
|
Article
6
|
Party
A is responsible for handling all relevant procedures, while Party B bears
all the fees and expenses incurred in such procedures. Party A
is also responsible for coordinating the external environment during Party
B’s construction and operation periods, and solving all issues, such as
villagers’ unruly commotion or road blocking, which may negatively affect
Party B’s business operation.
|
|
Article
7
|
Party
B may construct warehouse or workshop at its own choice. Party
A shall provide power and water recourses, while Party B shall bears the
costs of the materials, at a rate charged in accordance with the national
standards. Party B has the right of way using the self-construct road that
leads to Petrochemical Road.
|
|
Article
8
|
The
buildings and other real estates built on the leased land belong to Party
B. In the event that such estates are to be demolished by the
government, the general interest shall be put at first. Any compensation
for the demolition on or above the surface of the ground belongs to Party
B. Upon the expiration of this contract, Party B has the first right of
refusal with regard to contract renewal. During the term of the contract,
any dispute between the two parties shall be submitted to the local
people's court for a judgment.
|
|
Article
9
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Party
B shall assume all the taxes in connection with its business operation as
required by the government.
|
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Article
10
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During
the term of the contract, Party B has the right to operate its
business in accordance with the law and assumes sole responsibility for
its own profits or losses, in which Party A shall not
interfere.
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2
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Article
11
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Breach
of Contract.
|
|
1.
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If
Party A fails to hand the leased land over Party B in accordance with the
terms of this contract, Party A shall pay a default penalty equal to 5% of
the yearly rent stipulated herein to Party
B.
|
|
2.
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If
Party B delays any rent payment, a default penalty equal to 5% of the
total rent amount stipulated herein shall be paid to Party
A.
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Article
12
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Force
Majeure
|
|
1.
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In
an event of Force Majeure that renders this contract impossible to be
performed, or to be performed on schedule, neither party hereto shall bear
any responsibility for it.
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2.
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The
Force Majeure refer to earthquake, flood or other natural disasters
resulting in loss of land; or government-directed land
acquisitions.
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Article
13
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The
contract becomes effective from the date on which this contract
issignedand sealed by both parties
hereto.
|
|
1.
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Matters
not covered by this contract shall be resolved through mutual consultation
or supplementary agreements, which have the same legal
effects.
|
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2.
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The
contract shall not be affected by either party’s change of legal
representative.
|
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3.
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The
Contract is executed in two originals, with one to each
party.
|
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Party
A : (signature and seal)
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WANG
Quanli, LIU Hongzhi
|
|
(Both
of the signatures and finger prints present)
|
|
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Party
B : (signature and seal)
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Shaanxi
Xinsheng Century Agriculture &
|
|
Technology
Co., Ltd. (seal print present)
|
|
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Witnessed
and verified by:
|
ZHANG
Shuwei
|
|
(signature
and figure print present)
|
Date: November
12, 2010
3