EXHIBIT 10.11
AMENDMENT TO THE LAND LEASE AGREEMENT
Based on the principles of equality, mutual benefit and paid
utilization, Weifang Neo-Luck (Group) Corporation ("Party A") and Weifang Fuhua
Amusement Park Co., Ltd. ("Party B"), after friendly negotiations, hereby enter
into this Amendment (the "Amendment") to the Land Lease Agreement concluded
between Party A and Party B, dated October 30, 2000 (the "Lease Agreement").
I. Lease Term
1. The lease term for the land leased by Party B from Party A shall be extended
by ten years: the lease termination date of October 31, 2005 stipulated in the
Lease Agreement shall hereby be extended to October 31, 2015. In the event that
Party B shall need to continue to use the land upon expiration of the lease
term, Party B shall have priority by submitting an application for extension 90
days before the term expires.
II. Rent Amount
1. The annual rent amount shall remain 5,000,000RMB within the original
lease term, namely, from November 1, 2000 until October 31, 2005 , and
2. The annual rent amount shall increase by 5% every five years as of
November 2005.
III. Payment of Rent
1. The amount and payment terms of the monthly rent shall remain unchanged
within the original lease term, namely, from November 1, 2000 until
October 31, 2005, and
2. The monthly rent payment as of October 31, 2005 shall be the average
monthly payment based on the annual rent amount.
No other term of the Lease Agreement shall be amended.
This Amendment shall be effective upon its execution.
Party A: Weifang (Neo-Luck) Group Corporation (Seal)
Representative:
Party B: Weifang Fuhua Amusement Park Co., Ltd. (Seal)
Representative: Xxxxxxx Xxxxx
Date of Signature: March 10, 2001
