Rental Contract
EXHIBIT
4.15
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Lessor
(Party A):
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Huayu
Clothes & Costumes Manufacturing Factory of Wu Xi
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Xxxxxx
Xxxxxx (ID number: 000000000000000000)
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Miao
Guokang (ID number: 000000000000000000)
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Lessee:
(Party B):
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Xxxxxx
(WuXi) Metal Precision Manufacturing
Limited
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This
contract is made by and between Party A and Party B according to
<<Contract Law of People’s Republic of China>> and relevant
regulations, on
the
basic of amicable negotiation,
to
specify the rights and obligations of the both parties.
Clause
One: Rental Period: 10 years
Address
-
Xx.
00
Xxxxxxxx xx Xxxxxxxxxxx Xxxxxxxxxx Xxxx in Dongbeitang Town of Xishan District
of Wu Xi, Jiangsu Province.
(This
factory located on the west side of Nongxin River, north side of Hengye Road
and
east side to the factory building of the No. 4 Textile Xxxxxx.)
Factory
area: 4608.23 square meters
Dormitory
area: (not
mentioned)
Rental
period starts from January 28th,
2007 to
February 28th,
2016
and this contract comes into force from February 28th,
2007.
Clause
Two: Rental Fee
Factory
rental fee: RMB80 per square meter in the first year, and RMB90 per square
meter
for the second year, and RMB100 per square meter from the third year to the
tenth year;
Dormitory
rental fee: RMB50 per square meter for the first year, and RMB65 per square
meter from the second year to the tenth year.
(The
rental fee includes the management fee)
Clause
Three:
Party
A
shall pay for the installation of the electricity facilities (315 KVA
transformer), and the installation should be finished on or before
month______ date_____
2007.
The electricity fee will be charged according to the Power Station’s standard
price. Party A shall promise to provide electricity to Party B by the end
of
April of 2007 and
allow
Party B to use it’s own generator before the electricity is available by power
station.
1
Clause
Four:
Party
A
shall pay for the construction of dormitory and the construction shall be
finished and hand over to Party B by the end of May of 2007. Before the
completion of the dormitory, the factory building next door can be used as
a
temporary dormitory. (Bathroom facilities shall be provided in the temporary
dormitory to staff.)
Clause
Five:
Factory
and dormitory construction materials shall be water-proof. Pathway, with
five
meters width
and
covered by cement or asphalt material,
is used
to connect the factory and the dormitory. Pathway construction shall be finished
and handed over to Party B on the
date___ month____
year
-- __.
Clause
Six: Terms of Payment
Party
B
shall pay the rental fee semiannually in advance payment and Party A shall
provide Party B with the tax invoice. The tax shall be paid by Party B according
to the governmental tax rate. The deposit of RMB200,000.00 for the construction
of dormitory and installation of transformer shall be paid by Party B, and
shall
be refunded or deducted from the payment of rental fee by Party A when the
contract is expired.
Clause
Seven: Responsibilities of the Two Parties
Responsibility
of Party A:
Party
A
shall
| 1. |
Hand
over the factory and dormitory building to Party B on the date stipulated
in this contract, and ensure the supplies of water and electricity
(315KVA
transformer) and the infrastructure is available. Water
supply shall reach to the bathroom and road shall be connect to the
gate
of factory building, and electricity supply shall be provided to
the
factory building by Party B. Party A shall be responsible for dealing
with
the sewage and excreta.
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| 2. |
Endeavor
to help Party B solving the problems in the daily operation during
the
contract period.
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| 3. |
Provide
one month rental free for decoration.
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| 4. |
Supply
the water, electricity, fire-preventive facilities and must be in
good
condition; pipe for effluent or sewer is unblocked; building is water
proof. The bathroom facilities and the quality of factory and dormitory
building shall be ensured. If there is any wreckage or ruins of the
building which is not caused by Party B’s improper usage, Party A shall
immediately repair and paid for the full
cost.
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2
Responsibility
of Party B:
Party
B
shall
| 1. |
Pay
the rental fee, water and electricity fee, taxes imposed by central
government and other public administrative fee on
time
|
| 2. |
Keep
the main structure of the rental building in good
condition;
|
| 3. |
Keep
the doors, windows unbroken;
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| 4. |
Comply
with the laws and regulation of PRC during the rental period. Any
breach
of laws, act to damage the public interest or breach of this contract
is
prohibited.
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Clause
Eight: Liabilities of both Parties
Party
A
shall assume the liabilities if:
| 1. |
Party
A fail to hand over Party B the factory and dormitory on the date
agreed
in this contract.
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| 2. |
Party
A fail to provide the facilities stated in this contract to Party
B.
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| 3. |
Party
A shall compensate the loss raised to Party B if the factory is forced
to
stop production due to the dispute between Party A and the local
government.
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Party
B
shall assume the liabilities if:
| 1. |
Party
B makes any damages to the building structure because of improper
usage,
decoration and maintenance.
|
| 2. |
Party
B tear down or change the building structure or the facilities without
permission of Party A.
|
| 3. |
Party
B shall fix the damage or compensate for the
loss.
|
| 4. |
Party
B fails to pay for the rental fee and other charges on the due
date.
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Clause
Nine: Exemption for Liabilities
| 1. |
Party
B shall not be responsible for repairing the damaged building or
compensating for the loss caused by the Force Majeure but shall report
to
Party A about the damage and the reason without
delay.
|
| 2. |
Party
B shall report to Party A for immediate repairing if the damage was
caused
naturally.
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Clause
Ten: Settlement of Disputes
All
disputes in connection with this contract or the execution of this contract
thereof shall be settled through friendly negotiations. In case no settlement
can be reached through negotiations, the case should then be submitted for
arbitration to the competent authorities or People’s Court who has the right for
arbitration.
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Clause
Eleven: Other Supplementary Clause
| 1. |
Party
A shall provide the legal property ownership certificate to Party
B before
the contract comes into force to certify that Party A is the sole
legal
owner of the rented building.
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| 2. |
If
any Parties want to terminate the contract before expiration, 12
months
notices and mutual agreement is needed to make. The Party who initiate
the
termination of the contract shall pay the other Party the sum of
money
equivalent to the amount of 12-months rental fee as
compensation.
|
| 3. |
Party
A, within the executive period of contract, shall not charge any
other
fees except the fees imposed by government. (expenses of water and
electricity shall be charged at the standard rate of the
government.)
|
| 4. |
If
Party B desires to renew the contract after expiry, he should apply
to
Party A in written within three months after expiration of this contract
and Party B has the priority to rent under the same offer from other
applicant. Renewal contract shall be made by both
parties.
|
| 5. |
For
any other uncovered matters in this contract, two parties shall make
supplementary contract on the basis of stipulation of <<Contract Law
of PRC>>, and such supplementary contract shall have the same legal
force as this contract.
|
| 6. |
The
Chinese version of this contract is the original and correct version
in
case of any discrepancy found in other translation. This contract
is made
in quadruplicate and each party shall hold two copies which have
the same
legal force. This contract will be effective from the date when the
two
parties sign and stamp company’s seal.
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Lessor
(stamp)
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Lessee
(stamp)
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Address:
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Address:
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Legal
Representative:
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Legal
Representative:
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Authorized
Representative:
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Authorized
Representative
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Telephone:
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Telephone:
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Opening
bank:
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Opening
bank:
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Account:
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Account:
38768308091001
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Signature
date:
January 28th,2007
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Signature
date: January 28th,2007
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Witness
authority:
Witness:
Date:
4
