EXHIBIT 10.24
LEASE AGREEMENT OF YUETAN BUILDING
This Agreement is entered into by and between two parties as of August 30, 2002,
in Beijing.
Lessor (Party A)
Name: Beijing Xxx Xxx Building Real Estate Development Co. Ltd.
Registered Country: China
Registered Address: 2# Xxx Xxx Bei Jie, Xi Cheng District, Beijing
Tel.: 00000000
Fax: 00000000
Legal Representative: Xxxx Xxxxx
Lessee (Party B)
Name: KongZhong Information Technology (Beijing) Co.,Ltd
Registered Country: China
Registered Address: 12th floor, No 6, Xxxxx Xxxx Cun Nan Da Jie, Hai Xxxx
District, Beijing
Tel.: 00000000
Fax: 00000000
Legal Representative: Xxxxxx Xxxx
Through friendly negotiation, regarding to the leasing and renting of
the real estate, which is located in Xxxx 000, 0xx xxxxx, Xxxxx A, 2# Xxx Xxx
Bei Jie, Xi Cheng District, Beijing, Party A and Party B reach an Agreement as
below.
Article 1 The Room
1.1 The total acreage of this room is 900.57 sq.m.
1.2 The ichnography of this room pls. refers to Appendix 1 of this
Agreement.
Article 2 The Use of the Room
2.1 Party B agrees only to utilize this room as office room.
Article 3 The Term of the Leasing
3.1 Time Period of the term
Both parties agree that the term of this Agreement is 2 year(s),
leasing from the date of September 10, 2002. Party A deliver this room to
Party from the leasing date as above.
3.2 Free Leasing Period
After the subscription of this Agreement, the free leasing period is
calculating from the date of September 10, 2002. The total free leasing
Period is 2 months, viz. from the date of September 10, 2002 to November
9, 2002. During the free leasing period, Party A shall not ask for renting
fee, meanwhile Party B shall pay the related fee (refer to the Appendix 2
of this Agreement) according to the provisions of the Party A's authorized
agent (Real Estate Management Company)
3.3 Reletting
This Agreement is terminated when the term is expired. If Party B
desires to relet the room, with the consent of Party A, Party B shall put
forward its request 3 months before expiration and renew this Agreement.
Article 4 Renting Fee and Payment
4.1 Party B agrees to pay Party A the renting fee 17.8 USD/Month/Sq.M.
according to the structure acreage (including the management fee 3.2
USD/Month/Sq.M.), the total amount of each month in words is ONE HUNDRED
THIRTY TWO THOUSAND SEVEN HUNDRED TWENTY NINE YUAN AND SIX JIAO XXX (xxx.
XXX 132729.6 Yuan)
4.2 The renting fee shall be prepaid in USD each month, and Party B shall
pay Party A the renting fee 5 working days after every leasing date
monthly into the banking account appointed by Party A or attorney
authorized by Party A. The first payment shall be paid to Party A before
the date of September 10, 2002. If Party B desires to pay the renting fee
in RMB, the payment shall be based on the middle price of the exchange
ratio between USD and RMB announced by the People's Bank of China.
Name of the Company: Beijing Xxx Xxx Building Real Estate Development Co.
Ltd.
Bank of Deposit: Xuanwu Subbranch Bank, Beijing Branch Bank, Pudong
Development Bank of Shanghai
Account: 6214135001106
Article 5 Down Payment for Agreement Establishment.
5.1 Party B agrees to pay THIRTY THOUSAND RMB in words before the date of
subscription, viz. August 30, 2002, as the down payment to the room
leasing. The renting fee payment will be offset from the down payment in
the first renting fee payment.
Article 6 Guaranty Money
6.1 Party B agrees to pay into the banking account appointed by Party A
three-month renting fee before the date of September 10, 2002, totally in
words THREE HUNDRED NINETY EIGHT THOUSAND ONE HUNDRED EIGHTY EIGHT YUAN
AND EIGHT JIAO RMB (viz. XXX 000000.0 Xxxx ), xxxxx shall be kept by
Party A to the end of expiration.(the exchange ratio refers to Article 4
section 2)
6.2 During the time of the leasing period, if Party B violates the
provisions and cause damages to Party A, Party A (or the authorized agent
of Party A) shall have right to deduct parts of or entire down payment in
accordance to this Agreement, and shall notice Party B in writing after
the deduction date. If the down payment is not sufficient, Party A may
notify Party B to make up the margin, and Party B shall remit such amount
to the banking account appointed by Party B in 15 days.
6.3 Where this agreement is expired, Party B shall deliver the room to
Party A (or the Party A's authorized agent) neat and tidy, and shall
return the down payment to Party B in 20 working days after Party B pays
up all the expenses, renting fees, and damages; if Party B cannot pay up
the expenses, renting fees and damages under the items of this Agreement,
Party A is entitled to return the balance of down payment to Party B,
after deducting the relevant fees therefrom.
Article 7 Real Estate Management and Fees Related
7.1 Pursuant to the provisions of the authorized agent (the real estate
management company) and the requirement of other department, Party B shall
timely pay the real estate management fees, energy fees, telephone line
leasing guaranty money, telephone expenses and other expenses arising from
the house leasing during such leasing period.
7.2 The taxes arising from the house leasing shall be born respectively by
each party according to the provisions of the related department. The
insurance of relevant properties in this room shall be determined by Party
B itself.
Article 8 Rights and Obligations of Party B
8.1 Party B shall pay the down payment and renting fees according to this
Agreement.
8.2 Party B shall provide its business license (photocopy thereof) and its
introduction for Party B.
8.3 If the room is damaged by Party B during utilization, management, and
maintenance, Party B shall immediately notice Party A or its authorized
agent (real estate management company) and assume the mending expenses and
compensation fees.
8.4 Without Party A's written consent, Party B shall not transfer to,
relet to, exchange or share with the others the house.
8.5 Without Party A's written consent, Party B shall not make any
restructure to the house, shall not move or remove any fix fittings or
equipment in the room, and shall not allocate, pile up, or hang any
objects, whose weight is out of the bearing limit of the house. The
arrangement by Party B shall not damage the structure or the equipment.
8.6 Party B agrees that Party A (or the its authorized agent), with the
prior notice (or without any notice in case of urgency), may enter into
the room to inspect or exam conditions of the house or treat with the
urgent cases in any reasonable time. If anything shall be repaired by
Party B, Party B shall pay the related fees and mend them in accordance
with the demand of Party A or its authorized agent, or else Party A has
right to repair instead and Party B shall assume the fees related.
8.7 Any delinquency, breach, infringement, which is caused by the
employee, visitor, and licensee during the use, management, and
maintenance of the house, shall be deemed as the act of Party B itself,
and the liability related shall be born by Party B. If the above acts
affect the daily work of Party A or causes any damages to Party A, Party B
shall compensate all the loss.
Article 9 Rights and Obligations of Party A
9.1 Party A agrees that Party B may arrange on the roof of the building no
more than eight sets of air-conditioner's out-setting machine, which is
necessary for Party B to use this house. However, Party B shall pay the
real estate management company RMB 6000 Yuan as management fees. If the
air-conditioner's out-setting machine is unnecessary to fit, such fees
will not be paid.
9.2 If the ceiling, main structure, drainpipe, cable, and any other fix
fittings and equipment are damaged not due to Party B, Party A shall be
responsible to bear the related mending fees. However, if any damages
occurs, Party B shall
immediately notify Party A's authorized agent, and the real estate
management company will arrange the repairs.
9.3 Party A has right to appoint its agent and the authorized agent may
deliver and take back the house, receive the renting fees, or any other
rights entitled by Party A.
9.4 If Party B has not clearly put forward its request to relet or
purchase the house, Party A may accompany the personnel, who desire to
lease or purchase the house, to enter into the house for visit three
months before the expiration of the Agreement.
9.5 Party A shall insure the safety of the house. If Party A's authorized
agent (the real estate company) causes any personal harm, property
damages, or other situations that are affected the daily work of Party B
by the reason of itself, the real estate company shall compensate all
losses.
9.6 If Party B does not move its own property, equipment or any other
objects out of the house within 10 days after the expiration or
termination of this Agreement, which is deemed as the disposal right
abandon, Party A or its authorized agent(real estate management company)
has right to assign some persons to dispose the said property and objects
without any compensation to Party B.
9.7 Party A shall, as soon as practicable, deal with any matters which
Party shall be responsible for maintaining or repairing after coming to
knowledge or receipt of notice by Party B.
Article 10 Breach Liabilities
10.1 Both parties shall observe the provisions under this Agreement, any
party who violates the provisions shall assume the liabilities. If any
damages occurs, the compensation shall be made within 5 days.
10.2 If Party A terminates this Agreement unilaterally from the time of
subscription to the leasing date, Party A shall return the double payment
as the down payment stipulated in Article 5. If Party B terminates this
Agreement unilaterally, the down payment will not be returned.
10.3 If Party A terminates this Agreement unilaterally after the leasing
date, Party A shall return the double payment as guaranty money provided
in Article 6 Section 1. If Party B terminates this Agreement unilaterally,
the guaranty money will not be returned.
10.4 If Party A cannot deliver the house to Party B within 30 days after
the leasing date, Party B has right to rescind this Agreement or ask for
postponing the leasing date. If Party B choose to cancel this Agreement,
Party A shall pay back Party B all the money and interests (calculating
upon call rate) within 20 days after receipt of written notice.
10.5 If Party B delay to pay the renting fee or the guaranty money, Party
B shall pay Party A 0.5% of such amount per delaying day. If Party B
does not pay such amount of the delayed payment fee, or does not make up
such margin after 20 days when receive the notice, unless the renting fee
or the guaranty money is supplemented, Party A shall have right to cancel
this Agreement, which is deemed as the unilateral termination of this
Agreement, and the guaranty money will not return.
10.6 If Party B transfer, relet to or exchange with the third party the
house, without Party A's consent, the Party B shall pay Party A 3-month
renting fees as the breach of contract damages, and the Party A shall have
right to rescind this Agreement, unless such income returns to Party A.
10.7 If Party B violates the provisions under this Agreement and does not
correct after the written notice is received, Party A shall have right to
rescind this Agreement (the date of rescinding the Agreement is the date
when the written notice from Party A or its authorized agent serves to
Party B), which is deemed as the unilateral termination of this Agreement.
Where Party A cancels this Agreement due to Party B's fault, Party A shall
pay back Party B's payment deducting the leasing fees, expenses,
compensation, and breach of contract damages (calculating as the 3-month
renting fee) within 10 days after this Agreement is canceled. If the
guaranty money paid by Party B cannot make up the margin receivable by
Party A, Party A has its right to recourse from Party B.
Article 11 Priorities
11.1 Within three months before the expiration, Party B may request to
renew the lease. If Party A plans to relet this house and Party B does not
materially breach the contract in the term of this agreement, under the
equal condition, Party B shall have the right of priority to subscribe the
leasing agreement at least one year.
11.2 If Party A needs to sell this house and Party B does not materially
breach the contract Within the leasing period or after the expiration,
under the equal condition, Party B shall have the right of priority to
purchase.
11.3 If Party A sell the house to the third party within the leasing
period, Party A shall be responsible to urge the buyer to reach a written
agreement with Party B as to accept this Agreement. If this buyer does not
accept this agreement, Party A shall compensate Party B's losses based on
the agreement of both parties.
Article 12 Force Majeure
12.1 In the event of earthquake, typhoon, rainstorm, conflagration, war,
and any other events , which are beyond the party's reasonable control and
cannot be prevented or escape from with reasonable care, if any party
cannot perform this
Agreement, this party shall notify the other party by telegram or
facsimile, and provide the details and the authentication files that can
prove the impossibility of performance, partly impossibility of
performance and the performance delay within 15 days. These file shall be
supplied by authentic agent in the area where force majeure occurs. To the
extent of its affect, parties shall determine to cancel, to reduce the
parts of the performance liabilities, or to postpone this Agreement.
Article 13 Applicable Law
13.1 The establishment, effectiveness, interpretation, performance,
dispute settlement of this Agreement shall be governed by current laws of
P.R.C.
Article 14 Disputes Settlement
14.1 Any disputes arising from the performance of this agreement, both
parties shall be settle the disputes through friendly negotiation. If not,
any party may file the action to the people's court in the jurisdiction
where the real estate located.
Article 15 Miscellaneous
15.1 The notice under this agreement shall be sent in writings except for
some provisions stipulated otherwise. The notice can be served by fax,
post, deliver face to face to the address set forth in this Agreement
above (the post to Party B as well may be sent to this address). If the
service is made by facsimile, the time when the fax sends out shall be the
service date; if the service is made by face-to-face delivery, the time of
receipt shall be the service date; if the service is made by post
(including the express delivery), the 15th day after the post delivers
shall be the service date.
15.2 Chinese shall be prevailing language in this agreement, any other
language shall only be deemed to be the reference.
15.3 This Agreement is effective on the date of subscription.
15.4 There are 4 original copies of this Agreement, each party hold one
copy, and the other two copies shall be files to the related
administrative department for records.
PARTY A: BEIJING XXX XXX BUILDING REAL ESTATE DEVELOPMENT CO. LTD.
LEGAL REPRESENTATIVE (SIGNATURE): /s/ Xxxx Xxxxx
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CORPORATION SEAL:
DATE:
PARTY B:
LEGAL REPRESENTATIVE (SIGNATURE): /s/ Xxxxxx Xxxx
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CORPORATION SEAL:
DATE:
