Land Transfer Agreement
Land
Transfer Agreement
Party
A:
Taian Ruitai Cellulose Co., Ltd
Party
B:
Shandong Ruitai Chemical Co., Ltd
Whereas:
1. In
order
to accelerate industrial development and after the approval of relevant
government authorities, Party A intends to acquire a land covering an area
of
144000.72 square meters (equal to 216 mu) from Party B.
2. Party
B
agrees to transfer a land owned by it covering 144000.72 square meters (equal
to
216 mu) to Party A.
Now
therefore, In
accordance with the Land Administration Law of the People’s Republic of China
and Municipal Announcement of the People’s Government of Feicheng City, and
through friendly negotiation,
Party A
and Party B hereby agree as follows:
1. Party
A
agrees to acquire from Party B and Party B agrees to transfer to Party A a
land
covering an area of 144,000.72 square meters (equal to 216 mu) at the current
market price of RMB 120,000 per mu. The formula to calculate the land transfer
fee is as follows:
216
mu *
RMB 120,000 yuan /mu= RMB 25,920,000.00
2. Terms
of
Payment: Party A shall have paid up the land acquisition fee to Party B in
installment bythe end of 2006 as agreed by both parties.
3. .
Any
matter not covered herein shall be settled by both parties through friendly
negotiation.
4. This
Agreement is made in quadruplicate, each party holds one, and another two are
submitted to the township government and land administration bureau for
recording, respectively.
5. This
Agreement takes effect as from the date of signature by both
parties.
1
IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
by
their respective duly authorized officers as of the date hereinbelow
written.
Party
A:
Taian Ruitai Cellulose Co., Ltd
Authorized
Representative: _________________
Party
B:
Shandong Ruitai Chemical Co., Ltd
Authorized
Representative: _________________
Date:
October 25, 2006
2
