Land Circulation Retransfer Agreement
Exhibit 10.7
Party
A: Xiamen Yijun Modern Agricultural Development Co., Ltd.
Party
B: Xiamen Xinyixiang Catering Distribution Co., Ltd.
Whereas,
Party A
contracted use of total land of 834 mu, inclusive of the 22 mu contracted upon
Land Contracted Circulation Agreement signed on Dec 15, 2008 with Xiamen
Sanxiushan Vegetable Professional Cooperative, the 300 mu contracted upon Land
Contracted Circulation Agreement signed on Dec 15, 2008 with Xiamen Sanxiushan
Vegetable Professional Cooperative, the 56 mu contracted upon Land Contracted
Circulation Agreement signed on Jan 2, 2009 with Liu Jieyue, the 156 mu
contracted upon Land Contracted Circulation Agreement signed on Jan 2, 2009 with
Li Deli, the 100 mu contracted upon Land Contracted Circulation Agreement signed
on Jan 2, 2009 with Yan Mingshu, and the 200 mu contracted upon Yikoule
Vegetable Base Cooperation Agreement signed on Oct 4, 2008 with Li Daxiao and Li
Guangfu and, with respect to adjustment of its business, Party A hereby
transfers all Agreements for use of above-listed land to Party B with all terms
and conditions therein retained unchanged.
Hereby,
this Land Circulation Retransfer Agreement is entered into and executed by and
between Party A and Party B, whereby Party A transfers to Party B all its rights
and interests as well as duties and obligations under all the above-listed Land
Contracted Circulations Agreements, and Party B, Xiamen Xinyixiang Catering
Supply Co., Ltd. agrees to accept the same. Both Parties agree upon following
terms and conditions:
I. Party
A agrees to transfer for free to Party B all its rights and obligations under
above-listed Land Contracted Circulation Agreements, whereupon Party B shall
exist as a Party to said Agreements and enjoy all rights and powers while be
responsible for all duties and obligations agreed therein.
II. Party
B fully agrees to accept all rights and obligations stipulated for Party A in
above-listed Land Contracted Circulation Agreements, and continues to act as a
Party to said Agreements to enforce performance of all terms and conditions
agreed in said Agreements with the original transferor of land
contracted.
III. Both
Parties agree and guarantee that they both have acquired effective approvals and
authorizations from respective management for relevant arrangements to be made
for the transfer and acceptance of rights and obligations stipulated in said
Land Circulation Retransfer Agreement. Meantime, representatives duly authorized
by both Parties have obtained necessary authorization for signing said
Agreement.
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IV. For
any dispute arising out of or in relation to the Agreement, both Parties shall
negotiate for agreement and, where agreement is not reached through negotiation,
the dispute shall be submitted to Xiamen Arbitration Commission for judgment
which shall be finally binding to the Parties.
V. The
Agreement shall come to effect upon signing of both Parties.
VI. Any
and all annex(es) to the Agreement shall make an integral part to the Agreement,
and have equal legal forces to the text of Agreement.
VII. The
Agreement is made in duplicate, which shall come to effect once executed with
signature of duly authorized representatives and chops of both Parties. Each
copy of Agreement has equal legal forces.
Annexes:
1. Land
Contracted Circulation Agreement signed with Xiamen Sanxiushan Vegetable
Professional Cooperative for 22 mu of land contracted;
2. Land
Contracted Circulation Agreement signed with Xiamen Sanxiushan Vegetable
Professional Cooperative for 300 mu of land contracted;
3. Land
Contracted Circulation Agreement signed with Liu Jieyue for 56 mu of land
contracted;
4. Land
Contracted Circulation Agreement signed with Li Deli for 156 mu of land
contracted;
5. Land
Contracted Circulation Agreement signed with Yan Mingshu for 100 mu of land
contracted;
6. Yikoule
Vegetable Base Cooperation Agreement signed with Li Daxiao and Li Guangfu for
200 mu of land contracted.
Party A:
Xiamen Yijun Modern
Agricultural Development Co., Ltd. (Company Seal)
Authorized
representative /s/ Li Hong
Date of
signing: May 31, 2009
Place of
signing: Xiamen City
Party B:
Xiamen Xinyixiang Catering
Supply Co., Ltd. (Company Seal)
Authorized
representative /s/ Li Yongnian
Date of
signing: May 31, 2009
Place of
signing: Xiamen City
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