Property Sale and Purchase Contract
The
Seller: The Projects Department, Building11, Hongxiangmingyuan of Heilongjiang
Yongtai Company (“Party A”)
The
Buyer: Harbin Renhuang Pharmaceuticals, Inc. (“Party B”)
Business
License No.:230100400006209
NOW, after
friendly negotiations and in consideration of the Property and the mutual
covenants contained herein, the Parties hereby agree as follows:
Article
I The Basic Information
The
property is located at Building 10 and Xxxxxxxx 00, Xx. 00 Xxxxxxxxxx Xxxx,
Xxxxxxx District, Harbin with the construction area of 2557.64 square
meters.
Article
II Purchase Price
The
purchase price of Property is XXX 00000 for each squire meters with the total
amount of RMB 38,364,600 (the “Purchase Price”).
Article
III Payment Method
As of the
execution of this Contract, Party B shall pay to Party A, as an advance payment,
RMB 26,855,220 (the “Advance Payment”) and the remaining payment will by paid in
full before December 20, 2012, RMB11,509,380 (the “Remaining Payment”). The
parties can deal with the related matters about the property right by paying the
remaining payment.
Article
IIV Term
As of the
execution of this Contract, Party A shall deliver the property to Party
B.
Article V
The Breach of Overdue Payment for Party B
As Party
B can not follow the Article 3 herein, Party A has the right to terminate the
contract with taking back the property and won’t return the total payment of
Party B as the indemnity for Party A.
Article
VI The Agreement on Property Registration
Article
VII Taxes and Fees
Party B
shall pay all taxes and fees resulting from or payable in connection with
property registration, property right transfer and property using.
Article
VIII Miscellaneous
This
contract will be effective after being signed and sealed by both parties. This
contract is made in four originals that should be held by Party A and Party B as
the same legal force.
Party A:
(Sealing) The Projects Department, Building11, Hongxiangmingyuan of
Heilongjiang
Yongtai Company
Legal
Representative/ Authorised Representative:
April 10,
2010
Party B:
(Sealing) Harbin Renhuang Pharmaceuticals, Inc.
Legal
Representative/ Authorised Representative: Xxxxxxxx Xx
April 10,
2010
