EXHIBIT 4.13
TRANSLATION
TENANCY AGREEMENT
No: 20040101
Party A: DongGuan Houjie Town Xxxxx Xxxx Trading Company
Party B: Jetcorwn Industrial (DongGuan) Ltd
The both parties through sufficient negotiation, Party A agrees to let the
factory to Party B. The Parties agree to the following terms and conditions: -
1 LOCATION OF FACTORY AND AREA
Party A owns the factory situate at Wan Kong "Ma Tsui" (name of the land). Area
of the factory is 5,224 square meters, area of dormitory is 2,054 square meter,
area of electricity room is 112 square meter (area in total is 7,390 square
meters). The property can be used for production of electronic, plastic and
metals.
2. RENTAL PERIOD AND PAYMENT
The factory and dormitory provided by Party A at DOLLARS EIGHT AND CENTS
FIFTY RENMINBI (RMB8.5) per square meter per month. The rental shall be
DOLLARS SIXTY-TWO THOUSAND EIGHT HUNDRED AND FIFTEEN RENMINBI (RMB62,815).
The rental period shall be from 1 January 2004 to 31 July 2004. Party B
has to pay monthly rental before the 15th day of each month. If the rental
becomes overdue, a late charge can be charged by Party A (the late charge
is 1/1000 of monthly rental).
Party B shall pay to Party A a guarantee sum of DOLLARS TWO HUNDRED
THOUSAND RENMINBI (RMB 200,000). Upon the expiry of the contract, Party A
shall refund the guarantee sum to Party B. If Party B terminated the
contract before the commence date, the guarantee sum cannot be refund.
After receiving the guarantee amount, if the termination is proposed by
Party A, it has to compensate double of the guarantee sum.
3. THE RIGHTS AND OBLIGATIONS OF THE PARTIES
1. Party A has to assist Party B during the production and development
period on preparing relevant documents. Party B has to compliance
with the Country policy, obey to the management policy of the
province and district, payment for tax and other expenses of the
district, province, and perform safety production.
2. Party A has to provide water and electricity to the outside of the
factory, the other facility will be responsible by Party B. Party B
has to purchase factory and facility insurance based on Enterprise
Management Regulation of the Country.
3. During the production process, if Party B intends to decorate the
factory structure, negotiation with Party A is necessary. Party B
has to bear for repairment during the usage. If there is any loss
arise from the occurrence of natural disasters, both parties
should handle the case through negotiation.
4. Party A has to issue official rental receipt for tax purpose, tax
payment was borne by Party B until future negotiation.
4. During the tenancy period, Party B is allowed to sublet the property to
third party, Party B will secure the rental payment can be received by
Party A every month. Termination of the agreement will be negotiated by
both parties.
5. The aforementioned terms and conditions have been agreed by both parties,
This agreement shall be effective after signing by the parties. The
agreement has two copies, Party A and B shall each have one copy, all of
these having equal validity.
Party A : DongGuan Houjie Town Xxxxx Xxxx Trading Company
Representative: Signed and Chopped
Party B: Jetcrown Industrial (Dongguan) Ltd
Representative: Signed and Chopped
Date of contract: 1 January 2004
