Land Plot Transfer Agreement with respect to Fujian Longshan Electronics Co., Ltd.
Exhibit
10.1
with
respect to Fujian Longshan Electronics Co., Ltd.
Transferor:
Fujian Longshan Electronics Co., Ltd. (hereinafter referred to as Party
A)
Transferee:
Shishi Feiying Plastics Co., Ltd. (hereinafter referred to as Party
B)
Party A
has a land plot for enterprise use granted by the official document with the
number Xxx Xxxxx (1993) Di No.173, and this land plot is located at Jiulongshan
Development Zone, Hongjue Village, Hanjiang Town, with an area of 21.672 mu. Party A intends to
transfer the whole use right and title to this land plot to Party B. On the
basis of voluntaries, equality and mutual benefit, the two parties agree to
conclude this Agreement under the following terms and conditions:
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1.
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The
area of the land plot to be transferred by Party A is 21.672 mu.
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2.
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The
transfer price is RMB1,730,000.
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3.
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Payment
Method: On the very day when this Agreement is executed, Party B shall pay
Party A 50% of the transfer price (namely RMB870,000), and then pay 20% of
the transfer price (namely RMB350,000) one month
thereafter.
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4.
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In
the period when Party A is handling formalities for transfer, Party B
shall design the building in the manner planned by Party A, and the use
right and title must be owned by Party
B.
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5.
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After
Party A completes the formalities for transfer and change registration,
Party B shall pay the residual sum of the transfer price, namely
RMB510,000.
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6.
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Party
A is responsible for handling the formalities for the transfer and change
registration for the land plot and Party A bears all the expenses arising
therefrom.
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7.
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This
Agreement is made in duplicate, one copy for each
party.
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| Party A: Fujian Longshan Electronics Co., Ltd. | Party B: Shishi Feiying Plastics Co., Ltd. |
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Date:
October 10, 2003
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Date:
October 10, 2003
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