Lease Contract at Gaoneng Street Incubating Base
Exhibit
10.8
(English
Translation)
Lease
Contract at Gaoneng Street Incubating Base
No:
Party A
(Lessor): Dalian Shuangde Scientific Industry and Trading Co.
Ltd
Party B
(Lessee): Dalian Heavy Mining Equipment Manufacturing Co.,
Ltd.
In
accordance with << Contract Law of People’s Republic of China>> and
the relevant leasing rules and regulations of Dalian City, both parties have
reach consensus and hereby enter this contract:
Article
One: Terms
and Conditions
Party A
is to let the premise at Xxxxxx Xxxxxxx Xx
00 Xxxxxxxx
Xxxxx ,
consisting of House in
the Dalian High-Tech Garden, in total of ____ to Party B for use. The housing
construction area is
square meters.
Article
Two: Term
of Lease
The term
of lease is from Febuary
1, 2010 to Febuary
1, 2011, one
year in length.
Article
Three Charges,
Rent and Payment
1. The
total rental fee is RMB
270,000 , including Rent RMB
158,970, comprehensive service fee RMB
68,130, Utilities for Heat and Conditioning RMB 42,
900. In Chinese Capital Two
Seventy Thousand RMB Even.
2. The
total rental fee shall be made in two
installments by Party B, with RMB 135,000
immediate payable after signing this contract and the other before August 1,
2010. Any extra shall be made through the riders.
3.
The
deposit is
RMB payable at the time of contract.
4. The
utilities for water and power are at the expense of Party B, payable to Party A
in terms of << Innovation Center Water and Power Charge>> before the
15th day of each month.
5.
The
telephone line and its installation shall be arranged by Party B at its own
expense.
Article
Four Rights
and Duties of Party B
1. Party
B shall legally operate business within its business scope as approved by the
Industrial and Commercial Administration Bureau.
2. Party
B has right to use the premise within the term of lease, but in no event shall
change the house structure and nature at Party B’s sole
discretion. Any renovation by Party B is subject to Party A’s
approval at Party B’s expense. If any change made to the house structure and
nature without approval from Party A, Party B shall be liable for any resulting
damage therefrom.
3. Any
fixture made during the renovation shall be transferred to the title of Party A
at the end of lease, and is incapable of any credits to Party B. Such fixture is
not removable unless it is necessary and is permitted by Party A.
4. During
the term of lease Party B shall not sublet or transfer the premise to any third
party. Once violation is discovered, Party A shall have right to repossess the
premise and terminate the lease. Party B shall be held liable for any damage
resulting from such violation.
5.
Party B
has duty to maintain public facilities, sanitation and security in the
premise.
Article
Five Rights
and Duties of Party A
1. Party
A has duty to provide Party B with a normal working environment, with no
hindering to Party B’s business.
2. Party
A has duty to furnish each office in the premise with lighting, 220v receptacle
and heating system. Party A shall provide each floor with water and sewage
system, as well as maintenance and repairing.
3.
Party A
shall have right of reimbursement for any cost and expense that shall be on
Party B.
4.
Party A
has duty to assist Party B in any official lease approving
procedure.
Article
Six Breach
of Contract
1. Any
late payment of overdue rent, comprehensive service and any other payable to
Party A will result in daily penalty equivalent to 0.1% of the overdue
amount.
Any late
payment in excess of 30 days will result in Party A’s repossession of the
premise and termination of the lease, in addition to the forfeiture of
deposit.
2. A
30 days notice to Party A is required for Party B’s early termination. Party A
shall then be entitled to any rent and charges actually occurred, as well as the
deposit.
3. If
late delivery of the premise occurs, 0.1% of the total rent will be imposed to
Party A for each day of late delivery.
4. Any
disputes arising from this contract shall be resolved through negotiation, if
failed ,to the People’s court.
Article
Seven Riders
Recognized by Both Parties
____________________________________________________________
____________________________________________________________
Article
Eight
Any issues not exhausted in this
contract shall be settled and supplemented through both parties’ negotiation.
Such supplemental agreement shall has the same legal effect as this
contract.
Article
Nine
This contract has two original copies,
each held by one party, and shall take effective on the date of
signature.
|
Party
A (Seal):
|
Party
B (Seal):
|
|
Corporate
Representative (Signature)
|
Corporate
Representative (Signature)
|
|
Seal
In Red:
|
Seal
In Red
|
|
Dalian
Shuangde Scientific Industry and
|
Dalain
Heavy Mining Equipment
|
|
Trading
Co. Ltd
|
Manufacturing
Co., Ltd.
|
|
Dalian
ZhongKuang Equipment Manufacturing Co., Ltd.
|
|
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Authorized
Agent (Signature)
|
Authorized
Agent (Signature)
|
|
/s/
Zhao, Xxxx Xxxx
|
/s/
Ru, Jie Xian
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