LOAN CONTRACT
Exhibit 10.3
LOAN CONTRACT
Party A: (Lender) Shandong Longkong Travel development Co., Ltd
Party B: (Borrower) Yishui Underground Fluorescent Lake Travel Development Co., Ltd
To relieve the financial strain, Party A agrees to provide a Loan to Party B; the loan fund shall be used by Party B for business operating; through consultations, Both Parties agree to sign the contract:
Article 1: Description of the loan
1.
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The loan term shall be one year starting from 30-11-2009 to 29-11-2010.
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2.
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The loan lending interest rate shall be a monthly rate at of rate of 0.8%.
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3.
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The loan shall be used for working capital, Party B shall not change the purpose of the loan.
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4.
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The loan Amount is RMB12, 000, 000.00 Yuan; in words: RMB Twelve Million Yuan.
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Article 2: Commitments
1.
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The loan is due, Party B commits to repay up. Party B fails to repay the Loan including the principal and interest, Party A may go to laws to recover the loan.
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2.
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The loan is due, in case of that Party B still has financial strain, the loan may be extended with Party A’s consent.
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Article 3: The contract is made out in 2 duplicates, each for both parties.
Party A: (Lender) Shandong Longkong Travel development Co., Ltd (sealed)
Signature: /s/ YU XINBO
Party B: (Borrower) Yishui Di Xia Xxxx Xxxxx Hu Nu You Xx Xxxx Co Ltd (sealed)
Signature: /s/ XX XXXX
Date: 26-11-2009