Letter of Intent to Purchase Land Use Right and Buildings
Letter of Intent to Purchase Land Use Right and Buildings
Seller : Dongguan Qianshun Hardware, Inc
Representative: Xxx Xxxxx
Address: 0 Xxxxxx, Xxxxxx Xxxx, Xxxxxxxx Xxxx, Xxxxxxxxx Xxxxxxxx, Xxxxx
Tel: 00000000000
Purchaser: Hong Kong CashTech Investment, Ltd
Tel: 00000000000
In accordance with the provisions of P.R.China Contract Law, Xxxxxx and Purchaser are willing to enter into the following intent.
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A.
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Purchase and Sale:
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1.
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Seller would like to provide the right of use of the following realty to the Purchaser: the four facility buildings (36468 square meters), along with an office building (5245. 56 square meters) and three dormitory buildings (14710.96 square meters), as well as a power supply facility (195 square meters, including power supply equipment with 2000 KVA power supply capacity). All buildings are all located at 0 Xxxxxx, Xxxxxx Xxxx, Xxxxxxxx Xxxx, Xxxxxxxxx Xxxxxxxx, Xxxxx. The detailed location number of the land and buildings are subject to the certificate.
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2.
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Purchaser would like to purchase the realty which is stated above from the Seller.
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B.
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Price and Payment
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1.
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Price: both the Seller and the Purchaser agree with the purchase price of RMB 176,000,000.00.
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2.
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Payment: within three days after signing this letter of intent, Purchaser should pay 5% of the total purchase price as the deposit, which is RMB 8,800,000.00. The other 95% of the purchase price will be paid when signing the final contract.
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C.
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Default. Either party who defaults in satisfying the intent of this letter of intent shall be liable for the default responsibility.
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X.
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Xxxxxx guarantees that there is no legal dispute regarding the realty listed in A.1.
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X.
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Xxxx parties should prepare for signing the final contract scheduled for January 5th 2011, after signing this letter of intent.
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F.
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Each party keeps one copy of this letter of intent. The specific content depends on the final purchase contract.
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Signature of Seller
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Signature of Purchaser
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/s/ Xxx Xxxxx
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/s/Fu Zhiguo
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Date : Dec 20, 2010
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Date: Dec 20, 2010
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