Lease Agreement
Exhibit
10.2
This
Agreement is entered in Wuqing Tianjin on the day of January 1,
2010.
Party A: Tianjin Tianshi Group
Co., Ltd.
Party B: Tianjin Tiens Life
Resources Co., Ltd.
In the
principle of fairness and mutual benefits as well as faith and credit, Party A
and Party B, through friendly consultations, signed and comply with the certain
agreement on the events that Party B uses Party A’s buildings and related
facilities and Party A supplies Party B with Oracle system service.
1.
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Party
A shall provide Party B with partial office buildings and related
facilities (see exhibit 1) in its plant, together with Oracle system
service (see exhibit 2).
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2.
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The
Lease Term of using Party A’s buildings and related facilities as well as
the Oracle system service is one year, beginning on January 1, 2010 and
terminating on December 31, 2010.
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3.
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The
costs incurred from the use, maintenance and service in the term Party B
using the buildings and related facilities as well as the service are
collectively referred to service fee in this agreement. Party B shall
report sales revenue to Party A monthly and pay the rent to Party A at the
rate of 1% of its sales
revenue.
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4.
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Party
B shall pay the rent quarterly prior to the 15th day of the current month
by wire transferring to the bank account designated by Party
A.
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5.
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Party
A’s responsibilities:
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a)
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Party
A shall insure the regular operation of the facilities in the buildings
and undertake the timely maintenance fee. Party A is responsible for
compensating Party B’s losses caused from the improper maintenance and
administration to the buildings and related
facilities.
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b)
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Party
A shall insure the regular use of Oracle
system.
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c)
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Party
A is responsible for providing Party B with guarantee of the ground and
original facilities and compensating Party B’s losses caused from the
improper behaviour the management staff and other users of Party
A.
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d)
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Party
A is obliged to satisfy Party B’s reasonable and legal requirements during
the lease period.
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e)
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Party
B shall timely notify Party A to take effective measures for any damages
or malfunction existing or happening on the premise that may affect the
safe and normal use of the premise.
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6.
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Party
B ’s responsibilities:
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a)
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Party
B promises to comply with the law in People’s Republic of China during the
lease period.
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b)
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Party
B shall pay the related fee to Party A complied with the time set in the
agreement.
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c)
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Party
B shall properly use and take good care of each facility, and avoid any
abnormal damages. Party B shall be responsible for timely maintenance or
compensation for any malfunctions on the premise and its internal
facilities caused from its misuse or inappropriate
use.
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d)
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Party
B shall keep the entire leased premise in a good condition when the term
of this agreement comes to the end. Party B shall reconvert everything to
the original state as Party A requires, except for normal wear and tear or
original defect.
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7.
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If
the rent is overdue, Party B shall pay a late charge to Party A. The sum
of the late charge shall be equal to the number of days overdue times
3‰ of
the amount of the overdue
rent.
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8.
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Party
A shall undertake the lost to Party B caused from Party A’s violating the
provisions.
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9.
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Any
matters not covered in this agreement shall be further negotiated between
two parties, and a supplemental agreement shall be made. The supplemental
agreement and this agreement shall be equally
valid.
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10.
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Both
parties shall solve the disputes arising from the execution of this
agreement through negotiation. In the case that an agreement cannot be
reached, according to the law in People’s Republic of China, any party may
summit the dispute to the court on which the People’s Republic of China
has the jurisdiction.
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11.
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This
agreement has two originals, and each party shall keep one of
them.
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12.
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This
agreement shall be effective from the date on which both parties sign on
it.
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Party
A(Signature):
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Party
B(Signature):
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||
Tianjin
Tianshi Group Co., Ltd.
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Tianjin
Tiens Life Resources Co., Ltd.
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Address:
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Address:
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Xx.0
Xxxxxxxx Xxxx, Xxxxxx Xxx-Xxxx Xxxxxxxxxx Xxxx, Xxxxxxx,
Xxxxx
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Xinyuan
Road, Wuqing New-Tech Industrial Park, Tianjin, China
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||
Legal
Representative
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Legal
Representative
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/s/
Xxxxxxx Xx
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/s/
Xxxxxx Xx
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Xxxxxxx
Xx, President
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Xxxxxx
Xx, Director
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Date:
January 1, 2010
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Date:
January 1, 2010
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Exhibition
1: Buildings list
Name
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Address
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Area
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President
Office Center
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Xx.0
Xxxxxxxx Xxxx, Xxx-Xxxx Xxxxxxxxxx Xxxx, Xxxxxxx, Xxxxx
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675.00㎡
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Science
and Trading Building
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Xx.0
Xxxxxxxx Xxxx, Xxx-Xxxx Xxxxxxxxxx Xxxx, Xxxxxxx, Xxxxx
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1182.50㎡
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Exhibition 2: System
list
Name
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Service
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ORACLE
System
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Regular
use of all the modules used by Tianjin Tiens Life Resources Co.,
Ltd.
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