Party A: Mr. Zhang Qiang
EXHIBIT
10.1
Party A:
Xx. Xxxxx Qiang
Party B:
Jilin Dongsheng Weiye Science & Technology Development Co.
Jifeng
East Road, Heilongjiang China.
This
agreement is made and entered into by and between the parties concerned on
October 10, 2007 in Jilin Province, PR China on the basis of equality and mutual
benefit to develop business on terms and conditions mutually agreed upon as
follows:
1.
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Party
A owns land use rights to a field of 3,133 acres in Jiaohe Jilin province
for 30 years from Feb 8, 2004 to Feb 7,
2034.
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2.
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This
land property has been fully planted with ginseng crops by Party
A.
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3.
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Party
B and Party A hereby reached and entered into an agreement that Party B
agrees to acquire the land use right from Party A. Since the 3,133 acres
of ginseng was planted in spring 2004 and October 2006 respectively, the
ginseng’s age is one of the key factors in determining the purchase
price.
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4.
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Party
B agrees to acquire 1799 acres with ginseng crops planted in
spring 2004 at approximately $3,934 per acre, and
approximately $1415 per acre for the other 1334 acres planted in October
2006. The total acquiring price for 3133 acres land use right with planted
ginseng crops is approximately
$8,965,900.
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5.
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Party
B agrees to pay $994,444 as an initial deposit. The balance will be made
separately, with $6,334,264 to be paid by Jan 15, 2008 and $1,637,192 to
be paid by Mar 31, 2008.
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6.
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Party
B assumes responsibility for all subsequent legal related procedures and
corresponding fees.
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7.
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In
the case that Party B does not make the subsequent payment by March 31,
2008, a 15 day grace period will be extended. On March 31, 2008, Party A
will transfer land use rights to Party B as a percentage of the total
payment received on March 31, 2008.
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8.
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This
agreement, when duly signed by the both parties concerned, shall remain
effect from Jan 15, 2008 to Mar 31,
2008.
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Party
A:
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/s/
Xxxxx Xxxxx
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Xx. Xxxxx Qiang |
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Party B: | /s/ Xxxxxx Xx | ||||
Xxxxxx Xx, President | |||||
Jilin Dongsheng Weiye Science & Technology Development Co. |