Amendment to “Sales and Purchase Contract”
Exhibit 10.6
Amendment
to “Sales and Purchase Contract”
Party A: Shenyang Yunfeng Real Estate Development Co. Ltd. (hereinafter called Party A)
Address: Xx. 00, Xxxxx Xxxxx Xxxx, Xxxxx Xxxxxxxx, Xxxxxxxx
Legal Representative: JIANG Peng
Party B: Shenyang Maryland International Industry Co. Ltd. (hereinafter called Party B)
Address: Xx.00, Xxxxxx Xxxxx Xxxxxx, Xxxxxx Xxxxxxxx, Xxxxxxxx
Legal Representative: JIANG Fang
Based on mutual consultation, both parties agree to make the amendment to Article 4 “Terms of Payment “of the original Sales and Purchase Contract signed on Dec.8, 2005 as follows:
1. | Party A agrees to give up the amounts excess of XXX 00 xxxxxxx xxxxxxx xxxxxxxx of common stock. That means Article 4 (a) of the original contract will be deleted. |
2. | About terms of payment are as follows: Party B agrees to contribute XXX 00 million for the 70% share equity of Shenyang Xinchao Development Co., Ltd which held by Party A . Party A previously contributed RMB40 million of equity capital to the joint ventures, which Party B will repay to Party A at a closing to be held on or about February 28, 2006. In addition, Party B will assume the obligation of Party A to make additional contributions to the joint ventures in the amount of RMB30 million. |
All other terms and conditions of original contract remain unchanged.
Signed by Party A, Shenyang Yunfeng Real Estate Development Xx.Xxx.:
Representative: JIANG Peng (authorized signature)
Signed by Party B, Shenyang Maryland International Industry Xx.Xxx.:
Representative: JIANG Fang (authorized signature)
Date: December 28, 2005