Unofficial English Translation Plant Lease Agreement
Exhibit
10.10
Unofficial
English Translation
Party A:
Sanheshiye Development Company Jiulongpo District Chongqing
Party B:
Beijing Agritech Fertilizer Limited, Chongqing Branch
Through
the voluntary, equal and mutual negotiation, with regard to the matter that
Party A leases Party B its legally owned land and plant, both parties agree as
follows:
1.
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Party
A leases to Part B located in Xx.00-0 XxXxXxxx Xxxxxxxxxx Xxxxxxxx Xxxxxx.
The coverage of the office building is 607square meters. The coverage of
the workshop is 467 square meters.
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2.
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The
term of the lease is five years, starting from April 01, 2007 to March 31,
2012. (The start date of the term of the lease shall be the date of the
actual delivery of the building.)
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3.
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The
rent is RMB 5/ square meters monthly. The total amount of the
rent is RMB 112,440/ year, after 5 years renew lease agreement
the rent price go up by 10%. The rent shall be paid quarterly. 4.Under the
circumstance that Party B shall not alter the general landscape and
function of the building, with the prior consent of Party A, Party B may
partially alter the building.
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5.
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After
signing the agreement, Party B shall pay Party A the security deposit
amount of RMB 10,000. Upon the expiration of the lease, if Party B does
not renew the lease, Party A shall return the security deposit without
paying interests to Party B within ten business days after the lease is
expired and Party B pay off all of the expenses of water, electricity, gas
and the phone bills.
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6.
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With
regard to water, electricity and gas Party B consumes during the term of
the lease, the management company will calculate the expenses based on the
actual monthly use amount, and Party B shall pay such expenses according
to the invoices.
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7. | During the term of the lease, Party A assumes the rights and obligations as follows: |
(1)
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After
signing the agreement, Party A shall not reclaim without due courses. In
the event Party A requests to reclaim during the term of the lease, Party
B is entitled to reject such requests. In case Party A unilaterally
breaches the agreement, it shall return the double amount of the security
deposit to compensate Part B.
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(2)
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Party
A shall ensure that the building and its fixtures are in good condition
when it delivers them to Party B from the starting date of the
lease.
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(3)
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Party
A shall guarantee the legality of the building and pay all and any of
governmental taxes.
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8. | During the term of the lease, Party B assumes the rights and obligations as follows: |
(1)
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Party
B shall pay the rent, security deposit and all expenses in accordance with
the agreement. In case Party B defers to pay any of such within the agreed
schedule, then after thirty days, Party A is entitled to cancel the
lease.
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(2)
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After
the signing of the agreement, in the event Party B fails to pay the rent
of the initial payment period and the security deposit more than ten days,
Party A is entitled to cancel the
lease.
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(3)
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Without
the written consent of Party A, Party B shall not sublease part of the
building, or transfer the lease to the third party, nor shall Party B
share the building with the third party in any way. In the event the
aforesaid situations occur, Party A is entitled to cancel the
lease.
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(4)
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During
the term of the lease, Party B shall strictly comply with the laws, rules
and regulations of the People’s Republic of China. Party B shall be
strictly prohibited from conducting any illegal or immoral activities by
using the office building.
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9.
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On
the start date of the lease, both parties shall inspect the building and
equipments together, and sign and perform the delivery agreement. On the
cancellation date of the lease, both parties shall inspect the building
and equipments together, and sign and perform the building return
agreement.
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10.
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Either
party shall perform its duties in accordance with this agreement. Any
dispute arising from or in connection with this agreement or any
unspecified matters shall be negotiated by both parties. In the event that
both parties fail to reach an agreement, either party may submit the
dispute to the Beijing Arbitration
Commission.
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11.
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Any
matter not specified in this agreement may be negotiated by both parties
and sign a supplement to the agreement. The supplement and this agreement
have the same legal effect and are equally binding to both
parties.
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12.
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In
the event that the natural disaster, the adjustment of the national policy
and any other event of force majeure occur, both parties shall negotiate
to reach an agreement.
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13.
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This
agreement consists four original copies, Party A and Party B holds two
respectively.
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Party
A
Sanheshiye
Development Company Jiulongpo District Chongqing
/s/
Anfu Fan
Legal
Representative: Anfu Fan
April 1,
2007
Party
B
Beijing
Agritech Fertilizer Limited, Chongqing Branch
/s/
Tanbiao Guo
Legal
Representative: Tanbiao Guo
April 1,
2007