Land Use and Leasing Agreement
Exhibit 10.7
|
Individual
A:
|
Fujian
Jintai Tourism Economic Development Area Administrative
Council
|
|
Address:
|
#10,
Wo Ping Pei Street, Tai Ning Province
|
| Legal Representative: | Sheng, Fu Giang, Director |
|
Individual
B:
|
Fujian
Jintai Tourism Industrial Development Co.,
ltd
|
|
Address:
|
Wo
Xxxxx Street, Tai Ning Province
|
| Legal Representative: | Xxxx, XxxXxx, Chairman |
According
to Article 16 of the “Fujian Tai-Ning Great Golden Lake Tourism
Particular
Approval
of Business Agreement”, the two individuals agree to the following
terms:
|
Item
1
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According
to this agreement, Individual A agrees to lease the “Land-Use Right” to
Individual B. Because the government’s own law which gives the
administration the right to the social and public interest, the
underground resources, hidden wealth and municipal utilities are not
in the lease of this land use
rights.
|
|
Item
2
|
The
territory for land use, location of ancestors’ site and cadastral
pre-survey code are all listed in the attached appendix. When
there is a need to use any ancestors sites, both individuals have to
sign necessary documents and registration agreements with Fujian Jintai
Tourism Economic Development Area Administrative
Council.
|
|
Item
3
|
The
term for the land use of this agreement is 30 year, commencing August 21,
2001 and ending August 20, 2031.
|
|
Item
4
|
The
rent for the Land-Use Right of this agreement is listed on Article 22
of the “Fujian Tai Ning Great Golden Lake Tourism Particular Approval
of Business Agreement”.
|
|
Item
5
|
During
the period of this leasing agreement, if Individual B needs to make any
Basic and structure changes of the leasing property, the individual has to
get prior approval from Individual A. Individual B shall be in
accordance with the law for land use and precede all necessary authorized
procedure.
|
|
Item
6
|
During
the period of this leasing agreement, profits made on the land use right
belongs to Individual B.
|
|
Item
7
|
Upon
expiration of this agreement, any substance on the land, disposal of
buildings will be arranged according to Article 30 of the “Fujian Tai Ning
Great Golden Lake Tourism Particular Approval of Business Agreement”,
provide all necessary documents and registration
procedures.
|
| Item 8 | Due to the management need of Individual A, there are instances to construct management and non-management facilities, Individual B shall give full supportto this activity. Use of the land will not be returned. Individual A confirmed that he will not engage in any commercial activities. |
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Item
9
|
Upon
signing of this agreement, both Individual A and Individual B shall submit
necessary application to the County to lease the use of ancestors sites
and complete all leasing
agreements.
|
|
Item
10
|
The
conclusion of the contract, effectiveness, interpretation, and
dispute settlement is applicable to the laws, laws and regulations
and rules and regulations of the People’s Republic of China. In case
of disputes, matters will be handled according to
the jurisdiction of the location of the
property.
|
|
Item
11
|
Any
terms not listed in this leasing agreement, both parties can prepare a
mutual supplementary agreement. The supplementary
agreement shall have the same function and legality of the
original agreement.
|
|
Item
12
|
This
leasing agreement has nine (9) copies. Both Individual A and
Individual B, “Fujian Tai Ning Great Golden Lake Tourism Particular
Approval of Business Agreement” each concerned party, Tai Ning
Province Land Use Administration and Tai Ning Province Notary Office each
holds one (1) copy. The agreement shall be in effect upon the
signing/stamp of both parties.
|
|
Individual
A:
|
Fujian
Jintai Tourism Economic Development Area Administrative
Council
|
| Representative (signed by): | Sheng, Fu Giang |
| Individual B: |
Fujian
Jintai Tourism Industrial Development Co., ltd
Representative
(signed by):Xxxx, XxxXxx
|
Date: October 30,
2001
Signed at Tai Ning
Province
