Contract of Building Tenancy
Exhibit
10.29 |
Contract of Building Tenancy
Lessor: Inner Mongolia Tehong Coal Power Group Co.,Ltd (For short Party A)
Leaseholder: Bai Jinlan (For short Party B)
Both sides sign a contract for three floors of Xincheng borough Hongqi street 3# according to <Compact Law of The People's Republic of China> ,<Management Realty Law of The People's Republic of China> and other laws with equality , free will and arrange as follows:
1. | Party A would like to lease the building at three floors of Xincheng borough Hongqi street 3# to Party B, using as hotel, the area is 1127.34 centiare , the rent is RMB103000 per annum, the lease term is one year, the contract become effective from September 23, 2006 to September 23, 2007. |
2. | Party A is charged with responsibility as follows: |
2.1 | Equipment retain original state. |
2.2 | Building Management expense is charged according to building management statute of nation. |
2.3 | If there is force majeure like natural disaster leading the Party B not to managing, the Party A should be sent back the remaining rents and not bear the any responsibility of the laws. |
3. | Party B is charged with responsibility as follows: |
3.1 | Party B must inform Party A in written when the Party B need maintain or alteration. |
3.2 | Party B can not relet to third party, otherwise Party A can relieve from the contract in unilateral. |
3.3 | Party B must guarantee in good condition of equipment in the building. |
3.4 | If Party B want to relent the building, he must advance to tell Party A before the end of lease. After Party A agree, both sides can sign contract and Party B take to lease priority. |
3.5 | Party B can dismantle equipment of constructing himself. |
3.6 | Party B should bear these expenses of certificate about business, epidemic prevention ,revenue, and Party B should cooperate mutuality department. |
3.7 | Party B must pay the expenses of water, electricity and heating. |
3.8 | Party B must manage based on law, rule of law. |
4. | Party A can relieve this contract unilateralism and not hand back rent, Party B must revert to the building as following: |
4.1 | Party B relet the building to third party when the Party A don't agree . |
4.2 | When the Party A don't agree with backout and rebuilding of the building and Party B don't do that. |
4.3 | Party B will not pay that rent , if Party A have noticed Party B within 30 days during reasonable period. |
5. | Responsibility of breach of faith: It will regard breach of faith when Party A and Party B don't observe the contract. If Party B will not pay the rent on schedule, Party A is entitled of obtaining late fee according to 1%0 of the outstanding debts. |
6. | Party B will not bear of any responsibility if there is force majeure like natural disaster. |
7. | Anything not mentioned here can be negotiated by tow sides. If can not reach a agreement, can be negotiated by court. |
8. | Party B must pay the tax and expense of management in the period of tenancy. |
9. | Anything not mentioned here can be signed supplement aggrement, and the agreement will have equality effectiveness. |
10. | This contract will effective after signed and stamped by tow sides. |
11. | This contract is in duplicate,each side holds one. |
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Party A (signed): Xx Xxxxxx | Date: Sep 23, 2006 |
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Party B (signed): Bai Jinlan | Date: Nov 23, 2006 |
Sep 23, 2006