TRANSLATION TENANCY AGREEMENT
EXHIBIT 4.3
TRANSLATION
Lessor ( Party A ) | : | Shenzhen ShekouYuYee Shareholding Co Ltd | ||||||
Address | : | 0/X, 00 Xxx Xx Xxxx, Xxxxxx, Xxxxxxx, Xxxxxxxx | ||||||
Postal code | : | 518067 | ||||||
Agent | : | |||||||
Address | : | |||||||
Postal code | : | |||||||
Lessee (Party B) | : | Jetcrown Industrial (Shenzhen) Limited | ||||||
Address | : | Wing Village Industrial Estate, Shekou, Shenzhen. | ||||||
Postal code | : | |||||||
Business Registration No. or Identity Card No. : | ||||||||
Agent | : | |||||||
Address | : | |||||||
Postal code | : |
According to “The People’s Republic of China Contract Law”, “The People’s
Republic of China City Property Management Law”, “The Shenzhen Special Economic
Zone Leased Property Ordinance” and its executing regulations, and through the
sufficient negotiation of Party A and Party B, they signed this contract.
1. | Party A leases the property situate at 0/X, Xxxxx X, Xxxx Xxxxxxx
Xxxxxxxxxx Xxxxxx, Shekou Liao Street, Xxx Xxxx District, Shenzhen (below
named “the leased property”) to Party B. The construction area of the
leased property is 1,088 square meters in total. Property Building is
consisted of five floors. |
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The owner of the leased property is Shenzhen Shekou Yu Yi Shareholding
Co Ltd. The Property Ownership & Right certificate or other effective
proof of ownership (Rights of Usage) documents number: Shen Nam
Property Lease Number 11888. |
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2. | The rental for the leased property is calculated at DOLLARS
TWENTY- EIGHT RENMINBI ( RMB28.00 ) per square meter of construction area
per month. Total rental is DOLLARS THIRTY THOUSAND FOUR
HUNDRED AND SIXTY-FOUR RENMINBI ( RMB30,464.00 ) |
3. | The first rental payment of amount THIRTY THOUSAND FOUR HUNDRED AND SIXTY-FOUR
RENMINBI (RMB30,464.00) should be paid by Party B before April 1,2006. |
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4. | Rental shall be paid on or before 5th day of each month, payable to Party A. Party A shall
issue tax invoice to Party B for the rental received. |
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5. | The lease period for the leased property is from April 1, 2006 to March 31, 2008. The lease
period should not exceed the approved land use period. If exceed, the exceeded period is
invalid. Any loss derived from such, would be according to the terms agreed if terms are
included in this agreement; if not, the loss should be borne by Party A. |
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6. | The leased property is for industrial purpose only. In case Party B uses the property for
the other purpose, the written approval of Party A should be sought. Party B should complete
all the reporting and approval procedures with Government Property Management Office in
respect of the change of property use according to the relevant legal regulations. |
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7. | Party A should hand over the leased property for Party B use on 1 April 2005. If the hand
over date is later than that of the aforementioned, Party B is entitled to request to defer
the effective date of the agreement, both parties should provide this term in writing and
should report to relevant government office for records. |
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8. | During the hand over, both parties should have an agreement for the property and its
facilities and add the details on the appendix. |
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9. | When Party A hand over the property, he is entitled to collect a guarantee sum, equals to one
months’ rental. The guarantee sum is DOLLARS OF THIRTY THOUSAND FOUR HUNDRED AND
SIXTY-FOUR RENMINBI (RMB30,464). After receiving the guarantee sum from Party B, Party A
should provide receipt to Party B. |
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The following conditions must be satisfied in order for Party A to return the guarantee sum to Party B: |
1. | The leased property is returned in original conditions; and | ||
2. | All Labour wages are paid off. All fee payable to relevant government offices are paid off. |
10. | During the lease period, Party A shall be responsible to pay for the property land-use fee
and any tax in relation to the property rental, property lease management fees. Party B
shall be responsible for the water, electricity, |
cleaning, management charges or other fees derived from the rental of the leased
property. |
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11. | Party A should ensure the security of the property and its internal facilities are in good
conditions for the lease purpose and complies with the relevant provisions of rules and
regulations. |
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If Party B or his property suffers any lose due to the fraud of Party A, Party B
reserve the right to request compensation from Party A. |
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12. | Party B should make sure the property usage complies with the rules and not for illegal
activities purpose during the rental period and Party A can not disturb the usage of the
property when Party B use the leased property in normal circumstances. |
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13. | During the lease period, if there is an occurrence of damage or out of order of the property
and its facilities which will prevent its safe and normal usage, Party B should inform Party A
in time and carry out effective measures; Party A after receiving Party B’s notice should
carry out repair and maintenance works within five days; if Party B cannot reach Party A or
Party A refuses to repair, Party B can repair it instead after getting the certification of
the agreement registration authority. In emergency case which the property need immediate
repair, Party B should carry out the repair and maintenance works and inform Party A in time.
For the above situations, Party A should bear the repair or maintenance expenses. If Party B
can not complies with the above obligations and cause to significant loss, the repair and
maintenance expenses should be borne by Party B. |
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14. | If there is an occurrence of damage or out of order of the property and its facilities which
arising from Party B’s improper or unreasonable use, Party B should bear this responsibility
and repair or provide compensation in time. If Party B refuses to repair or compensate, Party
A can repair it on behalf of Party B after getting the certification of the agreement
registration authority. The repairs and maintenance charges should be borne by Party B. |
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15. | During the lease period, if Party A wants to alter, expand or renovate the property because
of needs, with the agreement of Party B and approval of the relevant government department,
improvement works can be carried out then. Both parties should sign a separate written
agreement on this area. Similarly, Party B can renovate the property with the agreement of
Party A and the approval of the relevant government department. Regarding this area, a
separate written agreement is required as well. |
16. | During the lease period, Party B is not allowed to sublet the leased property to third
party either partly or wholly. |
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17. | During the lease period, Party A wants to sell the property either wholly or partly, he
should give one month notice to Party B. Party B has the first priority to purchase the
property under the same conditions offered by the third party. If the property right has been
transferred to a third party, Party A should make sure the new owner completed the contract as
if the property right hasn’t change. |
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18. | During the effective period of this contract, the contract will be terminated or changed upon
either one of the following conditions: |
(1) | an occurrence of natural disasters or accident, and as a result the contract
cannot be completed; |
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(2) | the government decides to make a requisition of the land on which the
aforesaid property builds and the property has to torn down as a result; |
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(3) | Both parties agree with the arrangement. |
19. | Party A reserves the right to claim Party B for the compensation of loss due to either one of
the following conditions. |
(1) | Party B doesn’t pay the rental for more than one month; | ||
(2) | Party B doesn’t pay the rental and cause to the loss of Party A exceeding the
amount of Nil; |
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(3) | Party B use the property for illegal purpose and cause to general damage. | ||
(4) | Without the permission of Party A and the relevant government department,
Party B change the use of the property and its structure; |
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(5) | Party B in breach of the provision set out in Item (14), in other words, he
refused to bear the responsibility of repair and maintenance or paid the related
expenses and as a result, the property becomes serious damaged; |
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(6) | Without the written permission of Party A and the relevant government
department, Party B renovate the property; |
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(7) | Without the permission of Party A, Party B sublet the property to third
party. |
Apart from the aforementioned claim on Party B for compensation of loss or the breach of
contract, Party A could terminate the contract or change the contract terms accordingly. |
20. | Party B reserves the right to claim Party A for the compensation of loss due
to either one of the following conditions. |
(1) | Party A delayed the handover of the property for over one month; |
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(2) | Party A in breach of the contract term (11), as a result, the property
cannot be used for the purpose as stated before; |
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(3) | Party A in breach of the contract term (13), in other words, he
refused to bear the responsibility of repair and maintenance or paid
the related expenses, and as a result, the property cannot be used for
the purpose as stated before; |
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(4) | Without the agreement of Party B and the approval of the relevant
government department, Party A carries out the alteration, expansion, or
renovation works. |
Apart from the aforementioned claim on Party A for compensation of loss or
the breach of contract, Party B could terminate the contract or change the
contract terms accordingly. |
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21. | Upon the expiry of the contract, Party B should move out within five days of the
expiry and then hand over the property and internal facilities to Party A in good
condition. Party B should clear all the outstanding charges with Party A. Party B
doesn’t move out and hand over the property, Party A reserve the right to return
the property and request double rental expenses for the outstanding balances. |
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22. | Upon the expiry of the tenancy agreement, if Party B wants to renew the contract,
he should inform Party A three months in advance of the expiry. If Party A
continues to rent out the property, Party B should be given a first priority to be
the lessee under the same conditions as offered by third party. If both parties
can reach an agreement on renewal, they should sign a new contract which should be
re-registered with the Contract Registration Registry. |
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23. | Both parties should comply with the term conditions state in the contract. The
party who break the contract should indemnify the actual loss and bear the legal
responsibility. |
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24. | If both parties want to insert or delete terms, it can be made in the
Supplementary Clause. The provisions of Supplementary Clause and the main contract
are of equal validity. If there shall be anything that is not provided for by this
agreement, the parties can make any supplement after negotiation, and the
supplement will of equal validity with the main contract only after the
certification of the Contract Registration Registry. |
25. | If there shall be any dispute arising through fulfillment, it should be solved by the
discussions and negotiations of the parties. If there shall be no agreement made in
negotiation, mediation can raise a prosecution in People’s Court. |
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26. | This contract takes effect after signed by two parties. Both parties should
take the signed copy to the Contract Registration Registry for registration. |
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27. | This contract is written in Chinese. | ||
28. | This contract is made in four copies, Party A will keep two copies, Party B will keep one
copy. And one will be kept in the Contract Registration Registry. |
Party A ( Signature & Chop ): | ||||
Authorized Representative: <Signed> | ||||
Contact Telephone No.: | ||||
Bank Account No.: | ||||
Authorized Agent ( Signature & Chop ): | 27 February 2006 | |||
Party B ( Signature & Chop ): | ||||
Authorized Representative: <Signed> | ||||
Contact Telephone No.: | ||||
Bank Account No.: | ||||
Authorized Agent ( Signature & Chop ): | 27 February 2006 | |||
Registrant (Signature): <Signed> | ||||
Contract Registration Registry (Signature & Chop): <signed> | March 6, 2006 |