Loan Agreement Amendment
Exhibit
10.2
Loan
Agreement Amendment
Party
A
(hereinafter referred to as the “Lender”): Tianshi International Investment
Group Co., Ltd.
Party
B
(hereinafter referred to as the “Borrower”): Tianjin Tiens Life Resources Co.,
Ltd.
The
Lender and the Borrower have previously entered into a Loan Agreement dated
January 21, 2008 and wish to extend the due date of the loan from June 30,
2008
to December 31, 2008.
The
Lender agrees to give a loan to the Borrower on the following
terms:
1.
|
The
amount of the loan: Six Million Five Hundred Thousand Dollars
($6,500,000);
|
2.
|
The
term of the loan agreement: from January 21, 2008 to December 31,
2008;
|
3.
|
The
type of the loan: short-term loan;
|
4.
|
The
loan shall be without interest;
|
5.
|
The
Borrower guarantees to repay the principal of the loan by December
31,
2008, and the terms of the loan agreement shall not be breached.
|
6.
|
With
approval from the Lender the Borrower can pay off the loan before
December
31, 2008.
|
The Lender: | The Borrower: | |||
Tianshi International Investment Group Co., Ltd. | Tianjin Tiens Life Resources Co., Xxx.Xx., Ltd |
By | Jinyujan Li | By | /s/ Xxxxx Xx |
Title: President | Title: Legal Representative | |||
June 30, 2008 | June 30, 2008 |