Property Lease Agreement
EXHIBIT
10.12
Property
Owner: DuoYuan Water Environmental Protection Technology Industry (China) Co.,
Ltd. (Party A hereinafter)
Property
Occupant: DuoYuan Digital Printing Technology Industry (China) Co., Ltd (Party
B
hereinafter)
In
accordance with provisions of applicable laws and regulations of the State
and
on the principle of willingness, equality and mutual benefit, Party A and Party
B hereby enter into this agreement (the “Agreement”) after mutual consultation
with regard to the delivery of the premises lawfully owned by Party A to Party
B
for its use.
Article
I The
Premises:
|
1-1
|
Party
A will deliver the premises (the “Premises” hereinafter) representing 20%
of the total built floor area of the property it lawfully owns at
#3
Jinyuan Road, Daxing Industrial Development Zone, Beijing to Party
B for
its use, of which the area is 3079.86m2.
|
|
1-2
|
Purpose:
|
|
2-1
|
Party
B shall use the Premises for its office and research and development
purposes.
|
|
2-2
|
Within
the term of occupation of the Premises, Party B shall not alter the
use of
the Premises without permission.
|
|
2-3
|
Within
the term of occupation of the Premises, Party B shall not change
the
structure of the Premises.
|
|
2-4
|
Within
the term of occupation of the Premises, Party B shall not sub-lease
or
subcontract the Premises to others.
|
Article
III Term
of
Lease
|
3-1
|
The
term of lease of the Premises shall be 5 years from January 1, 2003
to
December 31, 2007.
|
|
3-2
|
If
Party B needs further occupation of the Premises after expiration
of the
term of lease, a new lease agreement shall be signed thereupon.
|
Article
IV Property
Use Fee
|
4-1
|
The
property use fee of the Premises shall be RMBҰ1.00 per square meter per
day and the annual fee shall be RMBҰ1124148.90 accordingly
(=3079.86*1.00*365). The use fee includes water and electricity rates
and
heating, air-conditioning, depreciation and land amortization expenses.
|
|
4-2
|
The
rate of the property use fee shall remain fixed within the validity
term
of the Agreement.
|
|
4-3
|
The
property use fee shall be calculated and paid on an annual basis.
|
Article
V Miscellaneous:
Party
B
shall immediately repair damages of the Premises or installations therein that
have been caused due to improper use.
Article
VI The
Agreement is made in three identical copies, all taking effect after signed
by
both parties and enjoying the same effectiveness.
Article
VII Both
parties may settle issues unexhausted herein through friendly consultation
or
adding supplementary clauses.
/s/DuoYuan
Water Environmental Protection Technology Industry (China) Co., Ltd.
Property
Owner (Party A)
/s/Property
Occupant: DuoYuan Digital Printing Technology Industry (China) Co., Ltd
Property
Occupant (Party B)
Date
Signed: December 25, 2002
