Exhibit 10.21
Loan Agreement
This Agreement is made by and between (hereinafter referred to as "Lender") and
WANG, KUO- AN of HIGOAL DEVELOPMENTS LIMITED(hereinafter referred to as
"Borrower") with the guarantor(s), for the necessary fund lending during the
process of business dealings performed by both parties. The Agreement is
established under mutual agreement, with the terms and conditions specified as
follows:
Amount of Loan: One Million U S Dollars.
Valid Loan Period: From April 10, 2002 to October 31, 2003. The loan will be
issued upon approval of the certificate of indebtedness or notes presented by
the Borrower.
1. The loan interest will be calculated according to the actual loan amount
and a fixed interest rate for the period. The monthly interest rate is
2.1%.
2. Upon the due date for each loan taken, the Borrower and the guarantor(s)
must pay off the loan immediately. Under conditions of an overdue, the
interest for the entire loan amount will be re-calculated according to the
overdue interest rate, an annual interest rate of 10%.
3. For all debts incurred under the Agreement, the Borrower and the
guarantor(s) both agree to accept the obligation for loan payment. The
obligation cannot be advocated for exemption with the supply of application
documents, certificate of indebtedness, notes or any other documentation
not signed or sealed by the guarantor(s).
4. The interest accountable with the certificate of indebtedness should be
paid on the date of 15th per month.
5. Upon the involvement of this Agreement in a lawsuit, the Borrower and the
Guarantors agrees to use the court at the location of the Lender as the
court of first instance.
Lender : Pan His-Ming(sealed)
Address :
Borrower : For and on behalf of (sealed)
HIGOAL DEVELOPMENT LIMITED
WANG ,KUO-AN [ ]Authorized Signature[ ]
Date: April 15, 2002