Lease Agreement
EXHIBIT
4.8
Shenzhen
Huiye Technology Co. Ltd. or Shenzhen Huiye, herein as Lessor
Golden
Group Corporation (Shenzhen) Limited, herein as Lessee.
| 1. |
Premise:
Huiye Technology Park, Guanguang Road, Bao’an, Shenzhen. Rent is
payable
monthly, and the lease terminates on April 15,
2008.
|
| 2. |
Area
and rent : See appendix.
|
| 3. |
Term:
The term of this lease is to commence in April 2006 and continue
until April
15, 2008.
|
| 4. |
Deposit
and Rent
|
| a. |
Deposit:
|
| i. |
The
deposit is RMB 50,000.
|
| ii. |
On
execution of this agreement, Lessee agrees to deposit with Lessor the
sum
of RMB 50,000, as security for the full and faithful performance by
Lessee
of this agreement, all of which shall be refundable within 7 days from
the
date of expiration of the contract. No portion of the deposit will
be
refunded until Lessee has surrendered the entire premise.
|
| iii. |
If
Lessee terminates the lease unilaterally before the expiration of the
contract, Lessor may xxxxx the deposit accordingly.
|
| iv. |
Lessor
may retain all or a portion of the security deposit for any damages
caused
by Lessee.
|
| b. |
Rent:
|
| i. |
Lessee
agrees to pay rent monthly. Lessee does not need to pay rent for the
duration from April 16, 2006 to June 15, 2006.
|
| ii. |
A
late fee will be assessed if Lessee is late in rendering the payment.
In
the event of nonpayment,
Lessor may place a lien on the property
and can terminate the lease or resort to other legal remedies, at the
option of Lessor.
|
| iii. |
Lessee
must give one month notice if Lessee wishes to terminate the lease
before
the expiration date. Early termination of the lease is subject to Lessor’s
approval. A fee equal to the amount of 45 days rent will apply if the
early termination is approved.
|
| 5. |
Lessor’s
Obligations
|
| a. |
Lessor
agrees to provide and maintain good and clean conditions of the
premise.
|
| b. |
Unless
caused by the negligence of the Lessee, Lessor shall be responsible
for
repairs to the premise, not including any attachments to the
premise.
|
| c. |
Unless
provided in this agreement, Lessor cannot terminate the lease before
the
expiration date.
|
| x. |
Xxxxxx
reserves the right to adjust the rent and the amount of the deposit
based
on changes of any related regulations.
|
| 6. |
Lessee’s
obligations
|
| a. |
Lessee
must render rent and other applicable fees in a timely
manner.
|
| b. |
Lessee
is responsible for all the repair and maintenance except those borne
by
Lessor pursuant to this agreement or those caused by Acts of God.
|
| c. |
Lessee
shall make no alterations or construct or demolish any part of the
building without Lessor’s consent.
|
| d. |
Lessee
needs to obtain Lessor’s consent before making any alteration to the
electricity or plumbing system of the building. If such changes are
made,
Lessee agrees to restore the system to the original state by the
expiration of the lease.
|
| e. |
Lessee
shall not assign the lease to another party and must refrain from any
illegal activities within the premise.
|
| f. |
Lessee
is responsible for any economic loss caused by Lessee’s negligence and
incurred to a third person or Lessor.
|
| g. |
Lessee
agrees to comply with all the regulations and rules set forth by Lessor.
|
| h. |
Lessee
is responsible for any loss incurred to Lessor caused by Lessee’s
involvement in a legal proceeding.
|
| i. |
Lessee
is not allowed to place its items in a public area of the premise without
Lessor’s consent.
|
| j. |
Lessee
is responsible for payment to entities providing utilities and other
public services to the premises during the term of the Lease.
|
| 7. |
Any
party can terminate the contract if a material breach on the part
of other
party occurs.
|
| 8. |
Lessee
must give 30 days notice to Lessor regarding the renewal of the
contract.
|
| 9. |
If
the building is demolished as a result of an unexpected condition
of
nature, either
party can terminate the lease.
|
| 10. |
This
lease may be supplemented and amended by both parties.
|
Shenzhen
Huiye Technology Co. Ltd.
Seal
Golden
Group Corporation (Shenzhen) Limited
/s/
Xxxxxxx Xxxxx
Appendix.
|
Building
number
|
Area
|
Term
|
Standard
|
|
3288
square meter
|
04/16/2006-
04/15/2008
|
XXX
00 xxxxxx xxxxx (tax included)
|
