Office Lease Contract
| Party A: | XX Xxxxxxx |
| Party B: | Xingguo General Fruit Industry Development Co., Ltd. |
Whereas, Party A and Party B, after friendly negotiation, have voluntarily entered into the agreement regarding the housing lease as follows:
| 1. | Party A will lease the first floor and the mezzanine of the building, which it owns, to Party B as office space; the said building is located at 000 Xxxxxxxxx Xxxxxxxxx, Xxxxxxx Xxxxxx. |
| 2. | The term of the lease is 3 years, from March 1, 2011 to February 28, 2014. The rent for the first year of the lease is ¥3,600 per month and the monthly rent for each of the following two years will increase by 10% over that of the previous year, and Party B must pay to Party A a security deposit in the amount of first 3-month’s rent, i.e., ¥10,800, at the time of executing this contract. The rent must be paid prior to that date of each month that corresponds to the contract effect date, and the past-due rent will result in a penalty of ¥50 for each day past due. If the rent is one month past due, Party B shall be considered to have forfeited its right to the lease and Party A shall have the right to unilaterally terminate this contract without the obligation to return the security deposit. |
| 3. | If, during the term of the lease, Party B needs to transfer the right to the lease, Party B must obtain Party A’s consent before the right to lease the housing can be transferred; however, the proceeds of the transfer must be divided 50% vs. 50% between Party A and Party B; otherwise Party B shall not transfer the right to lease the housing; Party B shall be responsible for the rent during the course of the transfer. If, upon expiration of the term of the lease, Party B desires to renew it, Party B must submit such renew request 3 months in advance to Party A. |
| 4. | The quality of the leased housing has been confirmed by both Party A and Party B on site to be satisfactory and suitable for use as office space; Party B must compensate in full for all repairs on the damages it causes to the leased housing. |
| 5. | Party A agrees that Party B may conduct appropriate remodeling to the leased housing; however, such remodeling must not cause any damage to the main structure of the building; otherwise Party B shall be responsible in full for all repairs. |
| 6. | Party A will have a separate electric meter in the building that Party B leases, and Party B shall pay to Party A for electricity it consumes each month at the rate set by the county power company, and Party A will in turn pay such amount to the county power company. Party B may use running water provided by Party A for free. (If the right to the lease is transferred, the water xxxx will be determined based on the circumstances). |
| 7. | Upon expiration of the lease, Party A shall not dismantle any fixture done during its remodeling (doors, windows, floors and other fixed items). |
| 8. | Party B shall not engage in any illegal activities on the leased premises; if such activities are discovered, Party A shall have the right to unilaterally terminate this contract without the obligation to return the security deposit. |
| 9. | All matters not covered herein shall be provided through consultation. |
| 10. | This agreement is in duplicates, with one to each party, and both shall have the same legal effect. It will become effective upon execution by both parties. |
| Party A: | /s/ XX Xxxxxxx |
| Party B: | /seal/ Xingguo General Fruit Industry Development Co., Ltd. |
March 1, 2011
