Leasing Agreement
EXHIBIT
10.16
Lessor:(hereinafter
referred to as Party A)
Lessee:(hereinafter
referred to as Party B)
In
accordance with the Real Estate
Management of PRC and Administration of
the Leasing of Urban Premises Procedures of Wuhan ,Party A and
Party B have reached an agreement through friendly consultation to conclude the
following contract.
1, Party
A will lease to Party B the premises and attached facilities all owned by Party
A itself, which is located at #15 Huangpu Science and Technology Park, Jiang'an
District, Wuhan, Hubei Province, PRC. and in good condition for Party B. The
registered size of the leased premises is 96 square meters(Gross
size).
2, The
rental will be 10,000 RMB per year, and the term of lease is three years. After
the lease term, Party B will have the priority to continue to lease
..
3, The
lease term will be from Feb.1st 2009.
Payment of rental will be one installment every six months. Party B will pay the
rental before using the premises and attached facilities. In case the
rental is more than ten working days overdue, Party B will pay 0.5 percent of
monthly rental as overdue fine every day, if the rental be paid 15 days overdue,
Party B will be deemed to have withdrawn from the premises and breach the
contract. In this situation, Party A has the right to take back the premises and
take actions against party B's breach.
4.
According to the need of production and operation, on the basis of observing
relevant regulations and laws of nation’s, the Lessee may have right to repair
the house in the allowing size (except changing major structure of the house).
The Lessee will bear the cost of various repairing. When the lease term expires,
all the constructions’ house property in the leasing area (including repairing,
not including other facilities) shall return to the Lessor, the Lessee should
not ask the Lessor to compensate for the house’s newly-increased
value.
5. During
the lease term, the Lessee shall pay the expenses of electricity, water and
relevent operation fees.
6.
During the term, Party B shall ensure that the premises and its contents,
equipment and facilities are in useful and safe condition in accordance with
relevant chineses laws, decrees and pertinent rules and
regulations.
7. Except
for national policies and irresistible causes, two parties of this contract
shall execut of the contract and shall not terminate the contract without
reasonable reasons. One party will notify the other party 3 months before change
the terms of the contract or earlier terminate it, and sign a agreement in
written form, or this contract will continuously have
effectiveness.
8. Two
parties no matter which one fails to perform the foregoing provisions, should be
deemed as breach the contract, any party who breaches this contract shall
compensate for any loss caused to the other party.
9, The
contract shall become effective upon the signature and affix of the chop of both
parties.
10, There
are 4 originals of this contract. Each party will hold 2 original(s). The
Parties will try their best efforts to settle any dispute under this contract
through friendly consultation or mediation.
|
Lessor(Party
A)
|
Lessee(Party
B)
|
|
（Seal）
|
（Seal）
|
Date: Feb
1st,
2009
