Attached files
Exhibit
10.6
Premises
Lease Agreement
This
Premises Lease Agreement (“Agreement”) is entered into by
and between:
Party A:
Shishi Feiying Plastic Co., Ltd.
And
Party B:
Fujian Shishi Rural Cooperative Bank
This
Agreement is made and entered into by and between Party A and Party B through
mutual consultations with respect to the lease of Party A’s private property, a
storefront located in Jiulongshan Development Zone, Hongjue Village, Hanjiang
Town, Shishi City.
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1.
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Term
of Lease: The term of lease is from May 1, 2008 to April 30, 2013, five
years in total.
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2.
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Rentals
and Payment Method: The rentals of the premises during the term of lease
shall be RMB 7,200 Yuan/Year. The rentals for the first year shall be paid
by Party B in a lump sum immediately after this Agreement is signed while
the rentals for the following four years shall be paid on May 1st
of every year.
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3.
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Management
fees during the term of lease such as house property tax, public security
& sanitation expenses and water and electricity fees shall be borne by
Party B; Party B has the right to make designs for interior and exterior
decorations of the premises and all costs incurred thereof shall be borne
by Party B itself (water and electric meters shall be installed by Party
B). In the event of damage of the water or electricity facilities or the
premises during the term of lease, Party B shall be responsible for
recovering the same.
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4.
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Party
A shall help Party B prevent any other person from putting stalls in front
of the storefront during the term of
lease.
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5.
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Upon
the termination of tenancy, if Party B wants to renew the tenancy, Party A
shall be notified 3 months prior to the day of termination. In the event
of all things being equal, Party B shall be given preference to tenancy
and the parties shall renegotiate on new terms and conditions based on the
considerations of the current market conditions; if Party A wants to
retain the premises for its own uses, Party B shall be informed 3 months
in advance.
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6.
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If
the premises are transferred by Party A to a third Party during the term
of lease, this Agreement shall remain binding upon the new
owner.
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7.
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This
Agreement comes into effect and becomes legally binding upon the parties
upon signing by the parties. The parties shall strictly abide by this
Agreement. If any of the parties violates this Agreement, it shall
compensate for all losses incurred to the other
party.
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8.
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This
Agreement is made out in duplicate and each party keeps one copy
respectively.
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Sealed
by Party A: Shishi Feiying Plastic Co., Ltd.
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Signed
by Wu Licong
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Sealed
by Party B: Fujian Shishi Rural Cooperative Bank
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April
24,
2008
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