Contract
Summary of Mortgage Contract
of Maximum Amount ( the “Contract”) entered into by and between Shenzhen BAK
Battery, Co., Ltd (the “Mortgager”) and Shenzhen Eastern Branch, Agricultural
Bank of China( the “Creditor”) on Nov. 27th, 2008
Main
contents:
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Contract number: No.
81906200800002148;
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In
order to guarantee the indebtedness of Shenzhen BAK Battery Co., Ltd. (the
“Obligor”) towards the Creditor under the Comprehensive Credit Facility
Agreement of Maximum Amount (No. 81001200813170001), the Mortgager agrees
to pledge its land use rights certificate of BAK Industrial Park to the
Creditor.
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Scope of Guaranty: The
guaranty shall cover all of the loan principal, interest, penalty
interest, breach of contract compensation, damages, undertaking fee and
all the expenses such as litigation cost, lawyer’s fee, notification cost
and public notice cost etc. which is incurred to the Creditor in realizing
its creditor’s right.
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Collaterals: The
Mortgager agrees to pledge its land use right certificate of BAK
Industrial Park to the Creditor.
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Breach of Contract Penalties:
additional 20% of the maximum amount secured in this Contract and
full compensation for the Creditor’s loss due to the Mortgager’s breach of
contract;
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Headlines of the articles
omitted:
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Termination
and explanation
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Payment
on demand
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Undertakings
of the Mortgager
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Validity
of the Creditor’s Right
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Occupancy
of Collaterals
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Insurance
of Collaterals
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Mortgage
Registration
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Realizing
of Creditor’s Right
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Fees
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Dispute
settlement
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Effectiveness
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Notification
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Supplement
articles
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1
