Gas Station Lease Agreement (with Xi’an Jindou Gas Station)
Exhibit
10.38
[UNOFFICIAL
ENGLISH TRANSLATION SOLELY FOR REFERENCE]
(with
Xi’an Jindou Gas Station)
Pursuant
to the “PRC Contract Law” and other applicable statutes, Xi’an
Baorun Enterprise Development Co. Ltd. and Andong Gas Station have
entered into the agreement as follows regarding the leasing of Andong Gas
Station:
Article
I Two Parties to This
Agreement
|
Lessor:
|
Xi’an
JindouGas Station (“Party A”)
|
|
Registered
Address:
|
Xilu
Road, Xi’an
|
|
Legal
Representative:
|
BAI
Jin
|
|
Lessee:
|
Xi’an
Baorun Enterprise Development Co. Ltd. (“Party
B”)
|
|
Registered
Address:
|
7
Huoju Road, New Century Plaza,
Xi’an
|
|
Legal
Representative:
|
GAO
Xincheng
|
Article
II Content of the
Lease
Party A
shall lease the gas station located at Xilu Road, Xi’an to Party
B. The said station occupies a ground area of 8 mu, including 12 gas
filling machines, 4 storage tanks with a total capacity of 240 cubic meters and
a rain shed of about 1000 square meters.
Article
III Term of the Lease
1. The
term of the lease starts on December 15, 2009 to December 14, 2029.
2. This
Agreement will take effect upon execution and the start of the lease is on the
day when Party B takes over the station.
Article
IV Rent and Payment Method
1. The
annual rent for the station is RMB 1,800,000.00 even and the total rent for the
entire 10-year term of the lease is RMB 18,000,000.00 even.
2. Upon
execution hereof and within 5 days after the gas station’s operation is turned
over to Party B, Party B shall pay to Party A 80% of the total rent in the
amount of RMB 14,000,000.00; and after the completing of the applicable
registration procedures regarding the station and confirming the remaining
issues from Party A’s operation, Party B shall pay to Party A the balance of 20%
of the rent. Party A shall bear the fees for change registration
procedures.
[Article
V to Article XV same as the agreement with Andong.]
Lessor:
Xi’an
JindouGas Station (Seal)
Legal
Representative: BAI Jin (Signature)
Lessee
CBEH
(Seal)
Legal
Representative: XIANG Shanqiang (Signature)
Date:
December 14, 2009
Place:
Xi’an
