EXHIBIT 10.12
LEASE AGREEMENT WITH SICHUAN DONGFU GROUP COMPANY
LEASE CONTRACT
A. Sichuan DongFu Group Company
B. Sichuan CathayOnline Technologies Co. Ltd.
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Party A agrees to lease office space located at 0/X, XxxxXx Xxxxxxx, Xx. 0 XxXxx
Xxxx, Xxxxxxx to Party B. According to this understanding Party A and Party B
reach the following agreement:
1) Construction Area of the DongFu Mansion, Xx. 0 XxXxx Xxxx is 11 00m2. Party
A agrees to lease this space to Party B. Party B agrees to pay Party A RMB
Y60,000/month, and RMB Y720,000/year in total.
2) Otherpublic expenses like water supply, sewer processing, cleaning, plant
decoration, security, and postal services will be charged separately based
on the ratio of construction areas of the whole building. Electricity will
be charged on a basis of the real usage.
3) Leaseduration is five years from September 1, 1999 to August 30, 2004. The
lease can be renewed based on a mutual agreement. Party B should provide
Party A written notice three months in advance of the expiry date if Party
B does not wish to renew, otherwise Party A will charge Party B another
three months rental.
4) Party B agrees to pay Party A rental on a quarterly basis, and agrees to
pay other expenses monthly according to Points 2 and 3. Party B agrees to
pay a daily fine of I % of the total expenses owed to Party A if Party B
does not pay Party A on time.
5) This Agreement has four copies. Party A and Party B each have two of them.
Party A: Sichuan DongFu Group Company
(stamp)
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Representative: Xxxx XxXxxx (signature)
Party B: Sichuan CathayOnline Technologies Co. Ltd.
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Representative: Xxxx Xx (signature)
August 9, 1999
