Lease Agreement
Exhibit
10.3
Party
A:No.1 Residents Group of Xxxxx Xxxx Community
Party B:
Kun Ming Xxx Xxxx Xxxx Pharmaceuticals Co., Ltd
Per the
Contract Law and relevant rules, both parties shall sign this agreement in order
to specify the interest and obligations:
1. Party
B shall rent from Party A shop 200 m2 on the ground floor located on No.504 of
West Ren Min Road of Kun Ming City, warehouse 1200 m2 on No.508 of West Ren Min
Road of Kun Ming City, warehouse 700 m2 on the first floor on No.506 of West Ren
Min Road of Kun Ming City and 20 standard rooms on the 7th floor for
offices,warehousing and business. All utilities shall be borne by Party B, who
shall pay all kinds of fees on time.
2. During
the lease, Party B shall comply with the State's laws and relevant rules without
any activities damaging Party A, otherwise Party B shall bear all
consequences.
3. During
the lease, Party B shall give one month notice to Party A if the lease will not
be renewed. The whole lease term is 10 years, commencing April 1, 2005 and
ending March 31, 2015, upon completion of which Party B shall return the
property with fair conditions to Party A, whereby Party B has the priority renew
the lease.
4. The
total rental and property management fee are RMB 580,000.00, payable at one time
when this Agreement is signed. The rental shall be paid one month earlier if the
property will be leased continually.
5. This
Agreement becomes effective upon signing or sealing, each party holding one
original.
Party
A:
No.1
Residents Group of Xxxxx Xxxx Community (Seal)
Xxxxx
Xxxx Residents Committee of Ma Jie Town, Xi Shan District, Kun Ming
City(Seal)
Party
B:
Kun Ming
Xxx Xxxx Xxxx Pharmaceuticals Co., Ltd(Seal)
