Land Lease Agreement
Exhibit
10.66
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Party
A: Jianou Lujian Foodstuff Co., Ltd.
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Party
B: Council of Lingkou Village, Yushan Town, Jian’ou
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The
Parties have entered into the agreement following amicable consultation.
The Parties agree as follows:
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I.
Term:
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The
plot that Party intends to lease to Party A is a bamboo groove at Lingkou
Village of Yushan Town, covering an area of 62,290 mu, which is
collectively owned by the villagers of Lingkou. Party A expresses its
intention to the village Council to convert this plot into a bamboo
cultivation base in January 2007. Party B agrees to lease the plot to
Party B for a term of 30 years, between January 1, 2007 and December 31,
2036.
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II.
Party A’s obligations and responsibilities:
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1.
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To
safeguard the interests of both Parties and keep the project rolling on,
the Parties agree that Party A shall pay Party B XXX
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million Yuan as a margin,
which shall be settled through 4 phases, as follows:
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Phase
I: RMB 2.4 million Yuan, prior to January 31, 2007;
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Phase
II: RMB 8.4 million Yuan, prior to January 31, 2008;
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Phase
III: XXX 00 xxxxxxx Xxxx, prior to May 31, 2009; and
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Phase
IV: RMB 13.2 million Yuan, prior to May 31, 2010.
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Party
A shall not miss the above-mentioned deadline by more than one
month.
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2.
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Party
A shall pay Party B the rent every five years during the term hereof. The
rent will be calculated at an incremental rate of 10% for each payment,
starting from first payment: RMB 2.7 million yuan (as agreed, a discounted
rate of RMB 2.08 million Yuan is given); second payment shall be RMB 2.97
million Yuan (2.7+2.7*10%); and third payment shall be RMB 3.03 million
Yuan (2.97+2.97*10%); and so on.
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3.
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Party
A shall pay the rent prior to February 28 of each year, and shall not
delay payment for over a month.
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4.
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The
settlement of margin: The Parties agree that the margin shall be used to
offset the rent for the last ten years of the Term.
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5.
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Party
A shall give villager first emptive rights when employment opportunities
arise from the base. Party A shall engage its own technical personnel to
perform maintenance of the base.
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6.
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Party
A shall be responsible for the harvest of bamboo shoots. During the Term
hereof, the ownership of all produce grown in the base shall be vested
opon Party.
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7.
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Upon
Party B’s reclaim of the base following termination hereof, the number of
bamboo shoots for every mu shall not be less than 120.
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II.
Party B’s Obligations and Responsibilities:
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1.
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Party
B shall help smooth out the relationship between Party A and the
villagers, and help settle the disputes, if any.
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2.
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Party
B shall ensure that Party A does not grow any other produce on the base,
or apply fertilizers or pesticides during the term
hereof.
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3.
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Party
B shall prevent any theft by the villagers on the base.
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4.
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During
the harvest season of January through April, Party B shall have the
obligation to help Party A collecting the harvested bamboo
shoots.
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III.
Breach of Agreement
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1.
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Party
A shall pay the margin and rent as specified, and a delay beyond the
aforementioned grace period shall constitute breach hereof, in which case,
Party B shall have the right to confiscate the margin and terminate the
Agreement.
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2.
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Party
A may notify Party B its intention to terminate the Agreement during the
term hereof, but the margin shall not be refundable. But if Party A can
find a third Party to assume its responsibilities and obligations hereof
without damaging the interest of Party B, the Agreement may be
transferred.
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3.
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Party
B shall not terminate the Agreement without any reason during the term
hereof or enter into separate agreement with any third party. In case of
breach hereof, Party B shall be held liable for a liquidated damage times
three of the margin.
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IV.
Miscellaneous
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1.
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This
Agreement shall be executed in three counterparts and come into force upon
execution.
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2.
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The
Parties may enter into separate agreement for matters not mentioned
herein.
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Party
A: Jianou Lujian Foodstuff Co., Ltd.
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Party
B: Council of Lingkou Village, Yushan Town, Jian’ou
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Representative:
Xxxx Xxxxxxx
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Representative:
Lian Jiming
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Date:
December 7, 2006
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Date:
December 17, 2006
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Notarial
Certification
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(2006)
Xxxx Xxxxx Zi No. 0893
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This
is to certify that Xxxx Xxxxxxx, representative of Jianou Lujian Foodstuff
Co., Ltd. and Lian Jiming, representative of Lingkou Village, Yushan Town,
Jian’ou entered into a land lease agreement on December 17, 2006 at this
notary office.
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Jian’an
Notorial Office
Notary:
Zhang Jianguang
December
17, 2006
