House Lease Agreement
No: Vitup House Lease Agreement 2006-0989
Party A (Lessor): Wang Shubin
ID Card No: 220622196506270630
Address: Xx. 00-0-0-0 (00), Xxxx Xx Xxxx, Xxxxxx Xxxx, Xxxxx
Party B (Lessee): Dalian Vitup Management Holdings Co., Ltd
Address: Third floor, Xx. 000, Xxxxxxx Xxxx, Xxxxxxxxx Xxxxxxxx, Dalian
Whereas
Party A is willing to lease and Party B agrees to rent the house located at No. 108-1, 000-0 Xxxxxxx Xxxx, Xxxxxxxxx Xxxxxxxx, Dalian.
Now therefore, both Party A and Party B have reached an agreement regarding to the abovementioned lease matter with terms and conditions as follows:
1
The house situated at No. 108-1, 000-0 Xxxxxxx Xxxx, Xxxxxxxxx Xxxxxxxx, Dalian and with a floor space of 1230.94 square meters constitutes a three-tier frame-structured building (Hereinafter referred to as the “House”) and is owned by Party A.
2
Party A agrees to lease 20 square meters the House to Party B for use as an office for business operation. The annual rental is RMB 5800, and each year’s rental shall be settled by the end of that year. However, subject to a specific circumstance, Party A may collect the next year’s rental in advance.
3
Both Party A and Party B agree that the lease term is twenty years, commencing from the date of the execution of the House Lease Agreement herein.
4
During the term of this Agreement, the two parties herein agree to adjust the rental of the House once every two years through consultation according to the then-current real estate market situation and business operation conditions of Party B.
5
Upon the execution of this Agreement, the leased House shall be delivered for occupation by Party B, and all taxes, expenses or other relevant charges arising from the lease, occupation and use of the House shall be born by Party B.
6
Both Party A and Party B shall bear the responsibility to observe the terms and conditions set forth above. In case that any party breach the agreement, the other party is entitled to file a civil lawsuit to any court that has jurisdiction for indemnification for economic losses.
7
This Agreement takes effect from the date of signature by the two parties herein. The
Agreement is made in quadruplicate; each party holds one and the others are submitted to relevant government departments for filing and recording purpose. All originals shall have the same legal effect.
IN WITNESS WHEREOF, the two parties have cause this House Lease Agreement to be executed by their respective authorized representatives as of the date hereinblow written.
Party A: Wang Shubin
Signature:
Party B: Dalian Vitup Management Holdings Co., Ltd
Signature:
Date: Aug. 15, 2006
