Common use of Liability for Breach of the Contract Clause in Contracts

Liability for Breach of the Contract. Article 30 The Assignee shall pay for the assignment price of the state-owned construction land use right on time in accordance with the terms of the Contract. If the Assignee fails to pay for such assignment price on schedule, it shall be imposed on a daily penalty of 1 ‰ of the deferred payment to the Assignor starting from the first day after the due time. If the assignment price is overdue for more than 60 days, and the Assignee neglects the Assignor’s reminder of the payment, the Assignor shall have the right to terminate the Contract, and the Assignee shall have no right to request the Assignor to refund the deposit. The Assignor can request the Assignee to compensate for the losses. Article 31 If the Assignee terminates its investment and construction for any of its own reasons, and proposes to the Assignor to terminate the Contract and return the Assigned Land, the Assignor shall report for approval to the people’s government which originally approves the land use right assignment plan. After obtaining such approval, the Assignor shall, in accordance with the following agreements, refund all or part of the assignment price of the state-owned construction land use right (without interest) except for the deposit as agreed in the Contract, and withdraw the state-owned construction land use right. The established buildings, fixtures and their auxiliary facilities within the boundaries of the Assigned Land may not be compensated while the Assignor may request the Assignee to remove or dismantle the established buildings, fixtures and their auxiliary facilities to restore the leveled ground. However, if the Assignor is willing to continue to use the established buildings, fixtures and their auxiliary facilities within the boundaries of the Assigned Land, the Assignor shall make reasonable compensation to the Assignee. 1. If the Assignee applies to the Assignor not less than 60 days prior to the first anniversary of the construction commencement date provided under the Contract, the Assignor shall refund all the paid assignment price of the state-owned construction land use right except for the deposit. 2. If the Assignee applies to the Assignor between the first and the second year after the commencement of the construction and not less than 60 days before the second anniversary of the construction commencement date provided under the Contract, the Assignor shall refund the remainder of the assignment price of the state-owned construction land use right after deducting the deposit and the prices for idle land in accordance with regulations. Article 32 If the Assigned Land is left unused for at least one year but less than two years due to the Assignee’s failure to commence construction and development for any of its own reasons, the Assignee shall pay the cost of idled land in accordance with the law. If the land is left unused for at least two years and the construction on the Assigned Land doesn’t commence, the Assignor shall have the right to take back the state-owned construction land use right without any compensation. Article 33 If the Assignee fails to commence the construction on the date as agreed in the Contract, or another date agreed upon in cases of accepted delayed construction, it shall pay 1 ‰ of the total assignment price for the land use right as damages for breach of contract to the Assignor for each deferred day, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. If the Assignee fails to complete the construction in accordance with the date provided under the Contract, or another date agreed upon in cases of accepted delayed construction, it shall pay 1 ‰ of the total assignment price for the land use right as damages for breach of contract to the Assignor for each deferred day. Article 34 If the total fixed asset investment to the project, the investment intensity and the total development and investment amount fail to meet the requirements as agreed in the Contract, the Assignor may demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price herein equal to the percentage that the exact underpayment accounts for in the total investment amount and investment intensity requirement, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. Article 35 If any index such as the floor area ratio and the building density fails to satisfy the lowest standard as agreed in the Contract, the Assignor may demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price equal to the percentage that the exact balance accounts for in the abovementioned lowest standard, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. If any index such as the floor area ratio and the building density exceeds the highest standard as agreed in the Contract, the Assignor shall be entitled to take back the excessive area and demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price equal to the percentage that the exact excess accounts for in the stipulated standard. Article 36 If any index such as the greening rate of industrial construction project, the proportion and the area of the land used for office buildings and service facilities within the enterprises fails to satisfy the standard as agreed in the Contract, the Assignee shall pay the Assignor / ‰ of the total assignment price for the land use right as damages for breach of contract and shall remove or dismantle such greening and construction facilities. Article 37 After the Assignee pays the assignment price of the land use right in accordance with the Contract, the Assignor shall deliver the Assigned Land on time in accordance with the agreement of the Contract. If the possession period of the land parcel under the Contract is extended due to the Assignor’s failure to deliver the Assigned Land on time, the Assignor shall pay 1 ‰ of the assignment price which has been paid by the Assignee as damages for breach of contract for each day extended. The land use term shall commence from the actual delivery date. If the land delivery is deferred for more than 60 days, and the Assignor fails to deliver the land after being reminded by the Assignee, the Assignee shall be entitled to terminate the Contract, and the Assignor shall repay the deposit in double and refund the paid assignment price of state-owned construction land use right after deducting the deposit, and the Assignee can request the Assignor to compensate the losses. Article 38 If the Assignor fails to deliver the Assigned Land on time, or fails to deliver the Assigned Land on the conditions as agreed in the Contract, or unilaterally change the land use conditions, the Assignee shall have the right to request the Assignor to perform its obligations in accordance with the requirements agreed herein and compensate its direct loss caused by the delayed performance. The land use term shall commence from the date when the land use conditions are satisfied.

Liability for Breach of the Contract. Article 30 The Assignee shall pay for the assignment price charge of the state-owned construction land use right on time in accordance with the terms of the Contract. If the Assignee fails to pay for such assignment price charge on schedule, it shall be imposed on a daily penalty of 1 ‰ of the deferred payment to the Assignor starting from the first day after the due time. If the assignment price charge is overdue for more than 60 days, and the Assignee neglects the Assignor’s reminder of the payment, the Assignor shall have the right to terminate the Contract, and the Assignee shall have no right to request the Assignor to refund the deposit. The Assignor can request the Assignee to compensate for the losses. Article 31 If the Assignee terminates its investment and construction for any of its own reasons, and proposes to the Assignor to terminate the Contract and return the Assigned Landassigned land, the Assignor shall report for approval to the people’s government which originally approves the land use right assignment plan. After obtaining such approval, the Assignor shall, in accordance with the following agreements, refund all or part of the assignment price charge of the state-owned construction land use right (without interest) except for the deposit as agreed in the Contract, and withdraw the state-owned construction land use right. The established buildings, fixtures and their auxiliary facilities within the boundaries of the Assigned Land assigned land may not be compensated while the Assignor may request the Assignee to remove or dismantle the established buildings, fixtures and their auxiliary facilities to restore the leveled ground. However, if the Assignor is willing to continue to use the established buildings, fixtures and their auxiliary facilities within the boundaries of the Assigned Landassigned land, the Assignor shall make reasonable compensation to the Assignee. 1. If the Assignee applies to the Assignor not less than 60 days prior to the first anniversary of the construction commencement date provided under stipulated in the Contract, the Assignor shall refund all the paid assignment price charge of the state-owned construction land use right except for the deposit. 2. If the Assignee applies to the Assignor between the first and the second year after the commencement of the construction and not less than 60 days before the second anniversary of the construction commencement date provided under stipulated in the Contract, the Assignor shall refund the remainder of the assignment price charge of the state-owned construction land use right after deducting the deposit and the prices charges for idle land in accordance with regulations. Article 32 If the Assigned Land assigned land is left unused for at least one year but less than two years due to the Assignee’s failure to commence construction and development for any of its own reasons, the Assignee shall pay the cost of idled land in accordance with the law. If the land is left unused for at least two years and the construction on the Assigned Land assigned land doesn’t commence, the Assignor shall have the right to take back the state-owned construction land use right without any compensation. Article 33 If the Assignee fails to commence the construction on the date as agreed in the Contract, or another date agreed upon in cases of accepted delayed construction, it shall pay 1 0.5 ‰ of the total assignment price charge for the land use right as damages for breach of contract to the Assignor for each deferred day, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. If the Assignee fails to complete the construction in accordance with the date provided under stipulated in the Contract, or another date agreed upon in cases of accepted delayed construction, it shall pay 1 0.5 ‰ of the total assignment price charge for the land use right as damages for breach of contract to the Assignor for each deferred day. Article 34 If the total fixed asset investment to the project, the investment intensity and the total development and investment amount fail to meet the requirements as agreed in the Contract, the Assignor may demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price charge herein equal to the percentage that the exact underpayment accounts for in the total investment amount and investment intensity requirement, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. Article 35 If any index such as the floor area ratio and the building density fails to satisfy the lowest standard as agreed in the Contract, the Assignor may demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price charge equal to the percentage that the exact balance accounts for in the abovementioned lowest standard, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. If any index such as the floor area ratio and the building density exceeds the highest standard as agreed in the Contract, the Assignor shall be entitled to take back the excessive area and demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price charge equal to the percentage that the exact excess accounts for in the stipulated standard. Article 36 If any index such as the greening rate of industrial construction project, the proportion and the area of the land used for office buildings and service facilities within the enterprises fails to satisfy the standard as agreed in the Contract, the Assignee shall pay the Assignor / ‰ of the total assignment price charge for the land use right as damages for breach of contract and shall remove or dismantle such greening and construction facilities. Article 37 After the Assignee pays the assignment price charge of the land use right in accordance with the Contract, the Assignor shall deliver the Assigned Land assigned land on time in accordance with the agreement of the Contract. If the possession period of the land parcel under the Contract is extended due to the Assignor’s failure to deliver the Assigned Land assigned land on time, the Assignor shall pay 1 ‰ of the assignment price charge which has been paid by the Assignee as damages for breach of contract for each day extended. The land use term shall commence from the actual delivery date. If the land delivery is deferred for more than 60 days, and the Assignor fails to deliver the land after being reminded by the Assignee, the Assignee shall be entitled to terminate the Contract, and the Assignor shall repay the deposit in double and refund the paid assignment price charge of state-owned construction land use right after deducting the deposit, and the Assignee can request the Assignor to compensate the losses. Article 38 If the Assignor fails to deliver the Assigned Land assigned land on time, or fails to deliver the Assigned Land assigned land on the conditions as agreed in the Contract, or unilaterally change the land use conditions, the Assignee shall have the right to request the Assignor to perform its obligations in accordance with the requirements agreed herein and compensate its direct loss caused by the delayed performance. The land use term shall commence from the date when the land use conditions are satisfied.

Liability for Breach of the Contract. Article 30 The Assignee shall pay for the assignment price charge of the state-owned construction land use right on time in accordance with the terms of the Contract. If the Assignee fails to pay for such assignment price charge on schedule, it shall be imposed on a daily penalty of 1 ‰ of the deferred payment to the Assignor starting from the first day after the due time. If the assignment price charge is overdue for more than 60 days, and the Assignee neglects the Assignor’s reminder of the payment, the Assignor shall have the right to terminate the Contract, and the Assignee shall have no right to request the Assignor to refund the deposit. The Assignor can request the Assignee to compensate for the losses. Article 31 If the Assignee terminates its investment and construction for any of its own reasons, and proposes to the Assignor to terminate the Contract and return the Assigned Landassigned land, the Assignor shall report for approval to the people’s government which originally approves the land use right assignment plan. After obtaining such approval, the Assignor shall, in accordance with the following agreements, refund all or part of the assignment price charge of the state-owned construction land use right (without interest) except for the deposit as agreed in the Contract, and withdraw the state-owned construction land use right. The established buildings, fixtures and their auxiliary facilities within the boundaries of the Assigned Land assigned land may not be compensated while the Assignor may request the Assignee to remove or dismantle the established buildings, fixtures and their auxiliary facilities to restore the leveled ground. However, if the Assignor is willing to continue to use the established buildings, fixtures and their auxiliary facilities within the boundaries of the Assigned Landassigned land, the Assignor shall make reasonable compensation to the Assignee. 1. If the Assignee applies to the Assignor not less than 60 days prior to the first anniversary of the construction commencement date provided under stipulated in the Contract, the Assignor shall refund all the paid assignment price charge of the state-owned construction land use right except for the deposit. 2. If the Assignee applies to the Assignor between the first and the second year after the commencement of the construction and not less than 60 days before the second anniversary of the construction commencement date provided under stipulated in the Contract, the Assignor shall refund the remainder of the assignment price charge of the state-owned construction land use right after deducting the deposit and the prices charges for idle land in accordance with regulations. Article 32 If the Assigned Land assigned land is left unused for at least one year but less than two years due to the Assignee’s failure to commence construction and development for any of its own reasons, the Assignee shall pay the cost of idled land in accordance with the law. If the land is left unused for at least two years and the construction on the Assigned Land assigned land doesn’t commence, the Assignor shall have the right to take back the state-owned construction land use right without any compensation. Article 33 If the Assignee fails to commence the construction on the date as agreed in the Contract, or another date agreed upon in cases of accepted delayed construction, it shall pay 1 0.5 ‰ of the total assignment price charge for the land use right as damages for breach of contract to the Assignor for each deferred day, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. If the Assignee fails to complete the construction in accordance with the date provided under stipulated in the Contract, or another date agreed upon in cases of accepted delayed construction, it shall pay 1 0.5 ‰ of the total assignment price charge for the land use right as damages for breach of contract to the Assignor for each deferred day. Article 34 If the total fixed asset investment to the project, the investment intensity and the total development and investment amount fail to meet the requirements as agreed in the Contract, the Assignor may demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price charge herein equal to the percentage that the exact underpayment accounts for in the total investment amount and investment intensity requirement, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. Article 35 If any index such as the floor area ratio and the building density fails to satisfy the lowest standard as agreed in the Contract, the Assignor may demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price charge equal to the percentage that the exact balance accounts for in the abovementioned lowest standard, and the Assignor shall be entitled to demand the Assignee to continue performing the Contract. If any index such as the floor area ratio and the building density exceeds the highest standard as agreed in the Contract, the Assignor shall be entitled to take back the excessive area and demand the Assignee to pay damages for breach of contract at a certain percentage of the assignment price charge equal to the percentage that the exact excess accounts for in the stipulated standard. Article 36 If any index such as the greening rate of industrial construction project, the proportion and the area of the land used for office buildings and service facilities within the enterprises fails to satisfy the standard as agreed in the Contract, the Assignee shall pay the Assignor / ‰ of the total assignment price charge for the land use right as damages for breach of contract and shall remove or dismantle such greening and construction facilities. Article 37 After the Assignee pays the assignment price of the land use right in accordance with the Contract, the Assignor shall deliver the Assigned Land on time in accordance with the agreement of the Contract. If the possession period of the land parcel under the Contract is extended due to the Assignor’s failure to deliver the Assigned Land on time, the Assignor shall pay 1 ‰ of the assignment price which has been paid by the Assignee as damages for breach of contract for each day extended. The land use term shall commence from the actual delivery date. If the land delivery is deferred for more than 60 days, and the Assignor fails to deliver the land after being reminded by the Assignee, the Assignee shall be entitled to terminate the Contract, and the Assignor shall repay the deposit in double and refund the paid assignment price of state-owned construction land use right after deducting the deposit, and the Assignee can request the Assignor to compensate the losses. Article 38 If the Assignor fails to deliver the Assigned Land on time, or fails to deliver the Assigned Land on the conditions as agreed in the Contract, or unilaterally change the land use conditions, the Assignee shall have the right to request the Assignor to perform its obligations in accordance with the requirements agreed herein and compensate its direct loss caused by the delayed performance. The land use term shall commence from the date when the land use conditions are satisfied.