Party A: Mr. Xiaojun Zhu Party B: Shaanxi Guangsha Investment and Development Group Co., Ltd (“the Company”) Subject: shareholder’s loan
Exhibit 10.1
Party A: Xx. Xxxxxxx Xxx
Party B: Shaanxi Guangsha Investment and Development Group Co., Ltd (“the Company”)
Subject: shareholder’s loan
The Company, a subsidiary of China HGS Real Estate Inc., is working with local government on a Xxxxx Xxxx Road construction project. This project includes relocating residence, constructing road and rebuilding shanty areas in the surrounding area, which requires significant capital investment. To support the project’s development and the Company’s working capital needs, the Company entered into a one-year loan agreement (“RMB Loan Agreement”) with Mr. with Xx. Xxxxxxx Xxx, the Company’s Chairman and Chief Executive Officer, pursuant to which the Company might, from time to time, borrow up to XXX 00 xxxxxxx (xx approximately USD $8.2 million) from Xx. Xxxxxxx Xxx. The interest rate for the loan was the China RMB loan annual benchmark rate.
This loan agreement has two copies, each party has one copy.
Signed by /s/Xxxxxxx Xxx
Xx. Xxxxxxx Xxx
Signed by /s/Xxxxxxx Xxx
Shaanxi Guangsha Investment and Development Group Co., Ltd
Signed on December 31, 2013