EXHIBIT 10.23
Landlord: Dongguan Weng Li Xxxxx Xxxx Xxx Xxxx Xx Xxx (hereafter named
"Party A")
Address: Weng Li Xxxxx Xxxx Xxx Xxx Tel.: 0000000
Tenant: Creative Master Limited (hereafter named "Party B")
Address: 8/F., Xxxxx Ind. Bldg., 00 Xxxxxxx Xxxx, Xxxxxxxxxx, Xxx.
Tel.: 00000000
After discussion, both parties agree:
A. Party A let 3 blocks of factory plant and 5 blocks of dormitory, which
are located in Weng Xx Xxxxx Xxxx Xxx Industrial Estate with total
area of 21,133 m/2/. The details are as follow:
1. 1st Stage: 1 block of production plant with total area of 3,957
m/2/, and one block of dormitory with electricity room and
security room with total area of 1,546 m/2/. Party A has to
provide these buildings for Party B before Sep 30, 94 for
decoration. The letting period starts from Dec 1, 94.
2. 2nd Stage: 1 block of production plant with total area of 3,818
m/2/, and 2 blocks of dormitory with security room with total
area of 2,983 m/2/. Party A has to provide these buildings for
Party B before Dec 31, 94 for decoration. The letting period
starts from Apr 1, 95.
3. 3rd Stage: 1 block of production plant with total area of 5,638
m/2/, and 2 blocks of dormitory with electricity room with total
area of 3,191 m/2/. Party A has to provide these buildings for
Party B before May 30, 95 for decoration. The letting period
starts from Jul 1, 95.
B. The letting period starts from Dec 1, 1994, and last for 10 years
C. Rental Fee
1st stage: 1 block of Production Plant with total area of 3,957 m/2/.
(1) The rental fee for the 1st years is HK$8/m/2//month, total
$31,656.00.
(2) The rental fee for the 2nd and 3rd year is HK$9/m/2//month, total
$35,613.00.
(3) The rental fee for dormitory, security room and electricity room
(total area 1,546 m/2/) is HK$6.5/m/2//month, total $10,049.00.
2nd stage: 1 block of Production Plant with total area of 3,818 m/2/.
(1) The rental fee for the 1st years is HK$8/m/2//month, total
$30,544.00.
(2) The rental fee for the 2nd and 3rd year is HK$9/m/2//month, total
$34,362.00.
(3) The rental fee for dormitory, security room and security room
(total area 2,983 m/2/) is HK$6.5/m/2//month, total $19,389.50.
3rd stage: The rental fee for stage is the same as the 2nd stage. 1
block of Production Plant with total area of 5,638 m/2/.
(1) The rental fee for the 1st years is HK$8/m/2//month, total
$45,104.00
(2) The rental fee for the 2nd and 3rd year is HK$9/m/2//month, total
$50,742.00.
(3) The rental fee for dormitory (total area 3,191 m/2/) is
HK$6.5/m/2//month, total $20,741.50.
D. Party B has to pay part of the rent at the beginning of the month,
while the remaining amount has to be paid by the end of the month.
E. 3 years as 1 letting period. Party A will increase the rental fee by
the end of the letting period.
1.
F. Both parties have to bear 50% of the transformer and other facilities.
G. Party B has to buy insurance for the dormitory and factory plant in the
rate not less than $450/m/2/. If Party B did not buy the insurance and
causes the loss of Party A, Party B has to compensate by 3.5/1000 of
the insuring amount.
H. The factory plant should follow all the safety instruction, in which
Party B is responsible for installing fire prevention facilities.
I. Breach of contract: If any party want to terminate the agreement, it
should inform other 6 months before, or else it has to compensate 6-
month rental fee to the other party.
J. Party B has to pay HK$100,000.00 as pre-payment, which will be
considered as the rental fee for the 1st stage. For the construction of
the 2nd and 3rd stage, party B has to borrow HK$700,000.00 to Party A.
This amount will be returned back to Party B within 3 years in terms of
30% of the rental fee.
K. There are 2 original copies of this agreement, and both parties get one
of them.
2.
Landlord: Dongguan Weng Li Xxxxx Xxxx Xxx Xxxx Xx Xxx (hereafter named "Party
A")
Address: Weng Li Xxxxx Xxxx Xxx Xxx Tel.: 0000000
Tenant: Creative Master Limited (hereafter named "Party B")
Address: 8/F., Xxxxx Ind. Bldg., 00 Xxxxxxx Xxxx, Xxxxxxxxxx, Xxx.
Tel.: 00000000
After discussion, both parties agree:
A. Party A let 1 block of factory plant and 1 block of dormitory, which are
located in Weng Xx Xxxxx Xxxx Xxx Industrial Estate with total area of
4,529 m/2/. The details are as follow:
B. The letting period start from Jul 1, 1996 and will last for 10 years.
C. Rental Fee
1. 1 block of Production Plant with total area of 3,064m/2/.
2. The rental fee for the 1st years is HK$7.5/m/2//month, total $22.980.00.
3. The rental fee for the 2nd and 3rd year is HK$____/m/2//month, total
$____.
4. 1 block of dormitory with total area of 1.465 m/2/
D. Party B has to pay part of the rent at the beginning of the month, while the
remaining amount has to be paid by the end of the month.
E. 3 years as 1 letting period. Party A will increase the rental fee by the end
of the letting period.
F. Party B has to buy insurance for the dormitory and factory plant in the rate
not less than $450/m/2/. If Party B did not but the insurance and causes the
loss of Party A, Party B has to compensate by 3.5/1000 of the insuring
amount.
G. The factory plant should follow all the safety instruction, in which Party B
is responsible for installing fire extinguishing facilities.
H. Breach of contract: If any party want to terminate the agreement, it should
inform other 6 months before, or else it has to compensate 6-month rental
fee to the other party.
I. There are 2 original copies of this agreement, and both party get one of
them.
3.
