Lease Agreement
Exhibit
10.20
Party
A Hu
Jiada
Party
B Shenzhen
Ritar Power Co., Ltd.
Party
A
and Party B have reached an agreement through friendly negotiation that Party
A
will lease to Party B the unit for use as office owned by Party A itself, which
is located at Room 22F01, Tower A, Tian’an Cyber Times Building, Futian
District, Shenzhen.
| 1. |
The
total size of the inner and outsider area available of the leased
office
is 233 square meters. The rental each month shall be RMB 18,640.
(RMB 80
Yuan per square meter). Party B shall pay the aforesaid rental before
the
18th
of
each month on the appointed bank account of Party
A.
|
| 2. |
Party
B shall pay the management fee, cost of water, electricity and other
facilities upon the actual use.
|
| 3. |
Starting
from the second year of the lease term, the rental per year shall
be
properly adjusted according to the then market price
|
| 4. |
This
Agreement has two originals and each party holds
one.
|
| 5. |
Anything
not covered in this contract will be discussed separately by both
parties
|
| 6. |
This
Agreement shall come into effect on 1st
May 2005.
|
|
Party
A
|
|||
| /s/ Jiada Hu | |||
|
Jiada Hu |
|||
Party
B
Shenzhen
Ritar Power Co., Ltd.
(Corporate
Seal)
Date:
1st
May
2005
