Attached files
| file | filename |
|---|---|
| S-1/A - YABOO INC | v205543_s1a.htm |
| EX-5.1 - YABOO INC | v205543_ex5-1.htm |
| EX-3.3 - YABOO INC | v205543_ex3-3.htm |
| EX-23.1 - YABOO INC | v205543_ex23-1.htm |
EXHIBIT
10.1
Lease
Agreement
Party A: Taizhou
Sunny Agricultural Development Co., Ltd.
Party B: Yaboo
Agriculture (TAIZHOU) CO., LTD.
According
to The People's Republic of China on Economic Contracts Law and other relevant
laws/regulations, after friendly consultation by both Partys, in line with the
principles of equality and mutual benefit, on the leasing eco-restaurant issues,
both Partys have agreed on the following:
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1
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Leasing
areas (see attachment for details): Qilin Village staff dormitory and
cafeteria.
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2.
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Leasing
period: The agreement is in effect starting 2009-09-01, ending 2014-08-31.
The lease may be renewed if both Partys come in to
agreement.
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3.
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Rent
and Payment method:
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Annual
Rent: From 2009-09-01 to 2014-08-31, the amount of rent per year is: RMB
400,000/yr; 500,000/yr; 700,000/yr; 700,000/yr; 700,000/yr;
Payment
method: First 50% of the annual rent must be paid by September 1st of
every year, and the second 50% of the annual rent must be paid off by February
28th
of every year.
Party B
must pay 200,000 RMB as down payment on the day the agreement is signed. After
the agreement is in effect, the down payment can be used as part of the annual
rent.
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4.
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Rights
and obligations of both Parties:
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(1) Party
A's rights and obligation:
Party A
has the right to overlook Party B in terms of managing the business legally,
following the agreement. However, Party A cannot interference Party B's business
plan/meetings, etc.
Party has
the right to collect rent from Party B according to the listed payment due
dates.
Party A
has to give leasing areas and other relevant paper/report to Party B within 10
days after the agreement is in effect.
Party is
responsible for all equipments, such as the central
heater/conditioner.
Party is
responsible for helping Party B to pass all relevant inspections.
Party B
cannot install extra equipments without Party's permission.
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(2)
Party B's rights and obligation:
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Party B
has the right to manager the eco-restaurant following all relevant laws and
regulations. All workers must be properly trained, in order to the restaurant in
a nice, friendly environment.
Party B
must pay all payments on time, and is responsibly for any debts, illegal
activities starting the agreement effective date.
Party B
is responsible for any damage of the equipment in the restaurant, staff
dormitory and staff cafeteria. All repair fees goes to Party
B.
Party B's
rights and obligations cannot be transferred under others' name. If Party B
default, Party B is responsible for any afterward math
consequences.
Party B
must strictly enforce the People's Republic of China Health Act and all relevant
regulations. Party B has the full responsibility for any incidents,
reports.
Party B
has full responsibility in paying for all bills on time (including phone bill,
electricity bill, etc.).
Party B
must have Party A's permission before any extra installation to the restaurant.
Party B has no right to remove any equipment from the restaurant after the
agreement expires.
Party B
must create rules and regulations in terms of sanitizing, health, safety,
etc.
During
the agreement, Party B cannot transfer, or rent the restaurant in any
way.
5. The
change, suspending, and renewal of the agreement:
(1).
After the agreement is in effect, neither Party A nor Party B has the right
to change or end the agreement without an addition written
agreement.
(2). If
one of the Parties does not follow the agreement fully, the agreement may be
stopped, and the guilty side must take full responsibility, including paying the
early cancellation fee and relevant consequences.
(3). If
the agreement needs to be ended for unexpected yet reasonable situations, both
Parties can consulate until a new agreement is created.
6.
Responsibility for not following the agreement:
(1). Both
Parties must follow the agreement, the party who does not follow will be
responsible for the consequences.
(2).
Party A has the right to end the agreement with no consequences, if Party B does
not follow all parts of 4.(1).
(3).
During the agreement, Party B must pay Party A all payments on the due dates. A
1% late fee will be added daily for any pass due amount. Party A has the right
to end the agreement is any payment is not received within 2 months of the due
date. Party B is responsible for any payment owed.
(4).
Party B must return all equipments after the agreement is expired. A fee of 5000
RMB will be added daily for any un-returned equipment.
7.
Disagreement:
Both
Parties must try to come to an agreement, if not, the People's Court of where
the plaintiff is, has the right to make the decision on the new
agreement.
8.
Additional written agreement can be added only with both Parties'
signature.
9. The
agreement is in effect after signed by both Parties. Three copies of the
agreement shall be made, one for each Party, and one for the witness (Taizhou
City Hailing Modern Agricultural Park Administrative
Committee).
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