House Lease Contract
Exhibit
10.11
Lessor
(Party A): Laiyang Jiangbo Pharmaceutical Co., Ltd.
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Address:
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Middle
Section, Longmao Street, Economic development Zone (Waixiangxing
industrial park)
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Tel:
0000000
Lessee
(Party B): Jiangbo Chinese-Western Pharmacy
Address:
Xxxxx X, Xx.0 Xxxx Xxxxxx
Tel:
0000000
With full
consultation among party A and party B, a leasing contract is agreed to signed
with following terms:
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a.
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Party
A leases to Party B the properties located in block X, Xx.0 Xxxx Xxxxxx
and No.7 Fushui Road, with building area of 4792 square meters and 3616
square meters usable room area. Lease period: from Dec 6, 2007 to May 4,
2010.
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b.
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Rent:
Party B shall pay Party A in the amount of RMB 333,300.00 Yuan on May 2008
for the period from Dec 6, 2007 to May 4, 2008 based on the annual rent of
RMB 800,000.00.
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The
annual rent will be RMB 2,200,000.00 Yuan starts from May 5, 2008 to May 4,
2010.
The rent
of 2,200,000.00 for 2008 shall be paid to Party A on May 2008 and the rent of
2,200,000.00 for 2009 shall be paid on May 2009.
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c.
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The
rent doesn’t included related real estate taxes, individual income taxes
and water and electrical charges, cleaning fees, housing Management costs
and party B shall pay for these related
fees.
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d.
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Party
B must pay rent on time. Party A has the right to take back the house if
Party B owe more than three months of
rent.
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e.
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Party
B can NOT change the structure and the usage of the properties without
authorization. Party B shall recover or compensation for the economic
losses if Party B intentional or on fault caused damages for the
properties and equipments.
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f.
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Party
A is responsible for the normal maintenance of the properties or
authorizes the lessee to repair, Repair costs will be offset in rent.
Party B is not responsible for the damages caused by Party A delaying for
repairing or not authorizing Party B to repair, instead Party A shall
responsible for the damages for Party
B.
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g.
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This
contract will be terminated automatically if the property is damaged by
natural disasters or other forces. Other related issues can be solved by
relevant laws.
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h.
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During
the period of leasing, Party B shall not sublease the property to a third
party without the agreement of Party A. Party B shall return the property
to Party A on time due to the expiration of the contract or terminate of
the contract. Party B should submit a written notice three months before
the contract expiration date to extend the contract. Party A will directly
apply to rental property management department for mediation or xxx Party
B in court if Party B neither renew the contract nor return the
properties.
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i.
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Supplementary
provisions shall be provided for matters not mentioned herein, and the
supplementary provisions have the same effect as the contract.
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j.
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Dispute
occurred during this contractual agreement shall be resolved by the
negotiations between the both parties. Dispute can be also solved by
Regulations from rental property management department or prosecution from
court if both parties unable to solve the dispute with
negotiations.
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k.
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This
contract can be notarized at notary public office with four copies,
one each for Party A, Party B, Inland Revenue and Rental property
management department with same legal
effect.
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Lessor: Laiyang
Jiangbo Pharmaceuticals co, Ltd. (stamp)
Lessee: Jiangbo
Chinese-Western Pharmacy (stamp)
Date: May
4, 2008
