This document has been translated from Chinese to English] Lease Agreement
Exhibit 10.2
Lessor (Party A) Shaoxing Xxx Xxxxx Blue Trading Co. Ltd.
Address: 1788 Keqiao Lake Road East, Shaoxing County, Zhejiang Province.
Legal Representative: Xxxxxxx Xxxx
Lessee (Party B) Shaoxing China Textile Xxxx Xxxx School
Address: 1788 Keqiao Lake Road East, Shaoxing County, Zhejiang Province.
Legal Representative: Xxxxxxx Xxxx
Through consultation, the above parties reached lease agreement as follows
I Property for rent：Located at 1788 Keqiao Lake Road East, Shaoxing County, Zhejiang Province.
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Land size 31,171.3 square meters (Land use certificate Shaoxing County Guoyong (2005) # 12-39），including all structures and buildings on this land, and the buildings identified in Shao Keqiao Real Estate License #38221, #38219, #38220 comprising approximately 18486.50 square meters of space.
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Land size 71548.7 Square meters (Land use certificate Shaoxing County Guoyong (2005) # 12-38)，including all structures and buildings on this land and the buildings identified in Shao Keqiao Real Estate License #38217, #38218, #38222 comprising approximately 21728.71 square meters of space.
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II Rent Term：from 8 / 1 /2002 to 12 / 31 / 2010.
III Purpose of Rent：Party B promised that all rental housing are used for educational purposes, including student classrooms, laboratories, sports field, cafeteria, etc. that are used for educational purpose.
IV Rent: RMB 21,000,000，the rent should be paid by Party B with one time payment to Party A. Party A confirms that it has received the above payment.
V This rent is Party A’s net income, all relevant taxes are Party B’s responsibility.
VI Maintenance: in case maintenance needed, Party B shall issue written report 15 days ahead of time, upon Party A’s approval, Party A will assign maintenance staff, the fees are paid by Party B.
VII Party B is responsible for the safety of all rented housing, with rational use, it shall not damage the construction structure within the term. If Party B plans to renew the lease upon the expiration of this Agreement, it shall notify Part A within three month before the expiration date of the Agreement.Under the same conditions, Party B has the priority to lease the properties.
VIII Such Agreement becomes valid once is signed and stamped by both parties. This Agreement is in two copies, each party holds one.
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Party A：Shaoxing Xxx Xxxxx Blue Trading Co., Ltd. (Seal)
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Signed by:/s/ Xxxxxxx Xxxx
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Date: July 28, 2002
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Party B: Shaoxing China Textile Xxxx Xxxx School (Seal)
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Signed by: /s/ Xxxxxxx Xxxx
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Date: July 28, 2002
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