EXHIBIT 10.16
LEASE AGREEMENT
Likang Lease Shanhai B 20060301 to 20110228
Lessor: (hereinafter referred to as party A) Shanghai Shanhai Group Co. Ltd
Lessee: (hereinafter referred to as party B) Shanghai Likang Disinfectant
High-tech Co., Ltd
Article 1. the Leased Area and Rent
The Lessor shall lease to the Lessee and the Lessee shall lease from
the Lessor the place specified below: The area of this office building
is 8,830 square feet (820 square meter), located next to the office.
The rent of the plant is $16,188 (RMB 129,500) per year for the first
three years. Starting from the fourth year, the rent will be raised by
8% each year. Lessor provides Lessee with water and power supply to
ensure office operation.
Articles 2. Lease Term
The Lease Agreement shall be effective for six years, commencing from
March 1, 2005 and ending on February 28, 2011.
Articles 3. Payment of rent
The rent is paid in every 1st of June and 1st of December 1st by
Lessee. If Lessee fails to pay rent on time, the penalty is 1% of the
total rent each day. If Lessee fails to pay within six month, the lease
is terminated and Lessee is responsible for the loss and will face
legal issues caused therefrom.
Article 4. Other Expenses
The Lessee pays on monthly basis the following expenses: Electricity,
Water and tax.
Article 5. Termination of Lease Agreement
Without the written consent of the Lessor, the Lessee shall not
terminate the Lease Agreement during the lease term otherwise the
Lessor shall be entitled to forfeit the Deposit. Without the consent of
the Lessee, the Lessor shall not terminate the Lease Agreement during
the lease term except that force majeure occurs.
Article 6. Dispute Resolution
All disputes between the Lessor and Lessee shall be settled by
negotiation, if can not be resolved through negotiation, the dispute
shall be submitted to the authorized Arbitration Commission or the
People's Court for trial and the place of arbitration shall be
determined by both parties' agreement. The formal correspondence
address shall be the address stated in this agreement.
Article 7. Effectiveness
This agreement shall be effective immediately upon signing and sealing
by the Lessor and Lessee. The issues uncovered by the Lease Agreement
may be determined by the Parties with an Appendix to this Lease
Agreement. The Appendix shall be deemed as a part of this Lease
Agreement and shall be equally valid.
Lessor: Shanghai Shanhai Group Co, Ltd
(Signature) Wei Xxxx Xxxx
Date: December 15 , 2004
Lessee: Shanghai Likang Disinfectant High-tech Co.,ltd
(Signature) Xxx Xxxx
Date: December 15 , 2004
