Property Lease Agreement [Unofficial Translation]
Exhibit
10.28
[Unofficial
Translation]
Lessor
(hereinafter referred to as Party A) ：Tianjin Binhai
TEDA Investment Services Ltd.
Lessee
(hereinafter referred to as Party B) ：Tianjin Shengkai
Industrial Technology Development Co., Ltd.
In
accordance with relevant Chinese contracts laws, decrees and pertinent rules and
regulations, Party A and Party B have reached an agreement about the housing
rental through friendly consultation to conclude the following
contract.
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1.
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Party
A will lease to Party B the premises owned by Party A, which is located at
000 Xxxxxxxx Xxxx Room 1-325, Tianjin Development Zoneand the gross size
of the leased premises is 12 square
meters.
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2.
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The
term of the lease is 14 months, which is from Aug. 17 2010 to Oct. 16,
2011.
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3.
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The
purpose of use of the premises is
office.
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a.
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Party
B agrees to hang the business license and the tax registration
certificate.
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b.
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Party
A's Enterprise Services Department will provide the public services for
Party B. During the leasing period, Party A will handle the enterprise
alteration and annual inspection (Party B will bear the enterprise
alteration and annual inspection
cost).
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c.
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Party
A provides preferential tax agency services for Party
B.
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d.
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Party
A will provide onsite service for Party
B
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e.
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Party
A ensures the exclusive lease to Party
B.
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4.
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the
payment method of rental and other
fees
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a.
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Party
B pays the rent based on the gross size of the premises. The rent is RMB
0.95/m2/day.
The monthly rent is RMB 342. The annual rent is RMB
4100.
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b.
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Party
B pays the utility fee based on the gross size of the
premises. The utility fee is RMB 0.2/m2/day.
Party B pays the utility fee on the monthly
base.
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5.
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Party
B shall bear the responsibility to protect the rental premises'
construction and decorations. Without the consent from Party A, Party B
shall not remove or change the rental premises. If Party B found any
quality problems of the premises' construction or decorations, Party B
shall notify Party A in xxxx.Xxxxx A shall deal with the problem as soon
as Party A received the notification. If the maintenance cost is generated
by the quality of the premises, Party A shall bear the cost. If the damage
cost is generated by Party B, Party B shall take the full responsibility
according to the extent of the
damage.
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6.
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Party
B will not transfer the lease of the premises or share it without Party
A's approval. If the circumstances mentioned above happened, Party A have
the right to terminate the leasing agreement unilaterally. Party B shall
operate the business legally. Party A has the right to ask Party B to
compensate any damages generated by Party B’s illegal
behaviors.
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7.
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If
Party B wants to renew the contract, Party B shall make the request one
month in advance. And we will sign a new
contract.
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8.
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When
we terminate the contract according to the agreement, Party B shall go to
the Bureau of Industry and Commerce and tax authorities to change its
address and move all of its equipment by the agreed end date. Otherwise,
Party A has the right to ask Party B to pay the rent based on the days of
delay and impose a double rent fine for the delay. After
contract expired, if Party B had not renewed contract or change the
address, Party A has the right to suggest Bureau of Industry and Commerce
and tax authorities to make certain
action.
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9.
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This
contract will enter into force after it is sealed by both parties. After
the expiration of the lease term, Party A's inspection, and the
fulfillment of both parties' responsibilities, the contract will be
terminated.
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10.
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Both
parties will solve the disputes arising from execution of the contract or
in connection with the contract through friendly consultation. In case the
agreement cannot be reached, any party may summit the dispute to the court
where the premises is located.
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11.
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There
are 5 originals of this contract. Party A will hold 1 original, Party B
will hold 4 originals.
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Party A:
Tianjin Binhai TEDA Investment Services Ltd.
Sealed
Agent:
Party B:
Tianjin Shengkai Industrial Technology Development Co., Ltd.
Sealed
Agent:
Date of
Signature: Aug. 17, 2010.
