Loan Agreement (Short-Term) Contract No. 0140 (2008) Borrower: Dalian Chuming Food Co. Ltd. Business License No. : DICE No.2102002111023 Legal Representative: Fengqin Ma Address: Quanshui Village, S Guanling Town, Ganjingzi District, Dalian 116031...
Exhibit
10.12
Loan
Agreement (Short-Term)
Contract
No. 0140 (2008)
Borrower:
Dalian Chuming Food Co. Ltd.
Business
License No. : DICE No.2102002111023
Legal
Representative: Fengqin Ma
Address:
Quanshui Village, S Guanling Town, Ganjingzi District, Dalian
116031
Account
Info: Bank of China, Liaoning Branch
Account
#:
Tel:
00000000 Fax: 00000000
Lender:
Bank of China, Liaoning Branch
Legal
Representative/Officer: Xxxxxxxx Xxxx
Address:
9 Zhongshan Square, Dalian
Tel:
00000000 Fax: 00000000
The
interest shall be paid quarterly. The 20th day of the last month of a
quarter is the expiry date of interest and the 21st day is the payment
date.
1. Amount
of loan: 14,000,000 RMB
2. Term
of loan: 11 months
3. Use of
loan: revolving fund
4.
Interest:
(a) Fixed
interest rate: 7.326% (annual)
(b)
Interest=loan x number of days x daily interest rate
(c) Daily
interest rate=annual interest rate/360
5.
Interest payment date:
6. The
borrower shall receive all the loan within 30 days after 11/18/2008
7.
Penalty
(a)
Penalty of overdue repayment: agreed interest rate + 50%
(b)
Penalty of other usage: agreed interest rate + 100%
8. Date
of repayment: 10/17/2009
9. Amount
of repayment: 14,000,000 RMB
10.
Guaranty agreements:
(a)
Mortgage contracts entered by the borrower and Dalian Chuming Group Co. Ltd.
(“guarantor”)
i.
Contract No. 024 (2005)
ii.
Contract No. 025 (2005)
iii.
Contract No. 044 (2006)
iv.
Contract No. 017 (2007)
v.
Contract No. 023 (2007)
(b)
Mortgage contract entered by the borrower and Dalian Mingxing Livestock Co. Ltd.
(“guarantor”)----Contract No. 018 (2007)
(c)
Mortgage contract entered by the borrower and Fengqin Ma and the co-owner of her
property (“guarantor”)----Contract No. 037 (2007)
(d)
Mortgage contract entered by the borrower and Huashan Shi and the co-owner of
his property (“guarantor”)----Contract No. 038 (2007)
11.
Signing date: 11/18/2008
