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EXHIBIT 10.5
LEASE CONTRACT
Lessor: Xx. Xxxx-Xxx Xxxxx
Address: 44, Nan Shui Village, Nanshan District,
Shenzhen Municipality, the People's Republic of China.
Lessee: Supply Chain Services Limited
Address: 0/X, Xxxxxxxxx Textile Centre, 22 Minden- Avenue, Tsimshatsui, Kowloon,
Hong Kong.
In accordance with the provisions of the "Regulations of the Shenzhen
Special Economics Zone on the Leasing of Buildings" and the relevant
implementation rules, Lessor and Lessee, through negotiations, concluded this
Contract, and have agreed as follows:
1. Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor the
space in the premises situate at Xxxx 000, Xxxx 0, Xxx Xxxx Xxxxxx, Xxxxxxx
Buxing Street, Nanshan District, Shenzhen Municipality, the People's Republic of
China ("PRC") (the "Premises"). The gross floor area of the Premises amounts to
ninety-two (92) square meters.
2. The Premises shall be leased to Lessee for a term of two (2) year (the
"Term"). The Fixed Term shall commence on February 19, 2001 and expire on August
18, 2001, both days inclusive, and the Renewable Term shall commerce on August
19, 2001 and expire on February 18, 2003, both days inclusive.
3. Lessee warrants that the uses of the Premises will be in conformity with
all applicable laws, rules and government regulations.
4. The monthly rent for the Premises shall be RMB 1,500.00. Lessee shall
pay to Lessor the rent prior to the fifth (5th) day of each month.
5. Lessee shall pay to Lessor a rent deposit amount to one (1) month rent
on the Effective Date of this Contract. Lessor shall give Lessee relevant
receipt upon receipt of the rent deposit.
The said Deposit shall be retained by the Lessor if Lessee desires to
terminate this Contract prior to the expiration of the Fixed Term.
6. During the Tenn, Lessee shall be liable for the payment of the water
fees, electricity fees, telephone fees, gas fees, sanitation fees, and building
management fees.
7. Lessee shall use the Premises as it is normally used, shall take good
care of it and protect it against unreasonable damage. Upon the termination of
this Contract, Lessee shall return the Premises within 48 hours, and shall see
to it that the Premises is in reasonably good condition apart from the fair wear
and tear, while at the same time making final settlement of the fees for which
Lessee is liable.
8. If in the course of Lessee's use of the Premises, the Premises is
damaged or in a state which impedes the safe and normal use thereof, Lessee
shall promptly notify Lessor and take effective measures.
9. Lessee shall be liable for damage or loss caused by the improper or
unreasonable use of the Premises by Lessee.
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10. During the Term, Lessee may make renovations to the Premises if it is
agreed by Lessor.
11. Without the written approval of Lessor, Lessee shall not sublet the
Premises or any part thereof to any third party.
12. If any of the events set forth below occurs during the Term, this
Contract shall terminate automatically with effect from the occurrence of any of
such events:
a. the performance of this Contract becomes impossible as a result of
force majeure or an expected event;
b. the Premises has to be demolished because the land on which it
stands is to be appropriated by the government.
13. Lessor shall be entitled to terminate this Contract if Lessee fails to
pay rent for more than fifteen (15) days.
14. This Contract may be terminated by either party upon giving thirty (30)
days written notice to the other party. Without prejudice to such termination,
each party agrees to fulfill all obligations which accrued there under, prior to
the time such termination becomes effective.
15. Each party shall indemnify and hold the other party harmless against
actual loss as a result of its failure to perform its obligations under this
Contract.
16. If Lessee desires to extend this Contract, it shall propose to extend
the Term to Lessor thirty (30) days prior to the expiration of the Term. Lessee
shall have the priority in renewing this Contract on the same terms and
conditions offered by other prospective lessees if Lessor intends to grant
another lease of the Premises.
17. Additions to or deletions of the terms of this Contract shall be set
forth in the Appendices attached to this Contract. Such Appendices shall form an
integral part of this Contract and shall be have the same legal validity as this
Contract.
The parties hereto may make supplementary agreements after consultation in
respect of matters not covered by this Contract. Such supplementary agreements
shall be have the same legal validity as this Contract.
18. All notices required by this Contract shall be in writing and sent by
registered mail, postage prepaid and addressed to:
Lessor: Xx. Xxxx-Xxx Xxxxx
44, Nan Shui Village,
Nanshan District,
Shenzhen Municipality,
the People's Republic of China.
Lessee: Supply Chain Service Limited
Room 1501, Yi Hai Plaza,
Chengye Road,
Nanshan District,
Shenzhen Municipality,
the People's Republic of China.
Facsimile: 00-000-0000000
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19. In the event of a dispute between Lessor and Lessee or either party
failing to comply with any provision of this Contract, the parties shall resolve
any such disputes or non-compliance through friendly consultation immediately
after one party has delivered to the other party a request for such
consultation. In the event the parties are unable to resolve the dispute within
thirty (30) days of initiation of the friendly consultation, the parties shall
bring a lawsuit to a People's Court.
20. The Chinese text (if any) of this Contract shall be the primary text of
this Contract, the English text is a duplicate. In the event of a conflict
between the Chinese text and the English text of this Contract, the Chinese text
of this Contract shall, as between the parties hereto, prevail over the English
text in the interpretation of this Contract.
21. This Contract shall be executed in two (2) counterparts. Lessor and
Lessee shall each hold one (1) copy.
22. This Contract shall become effective from the date of its signing (the
"Effective Date").
Lessor: Xx. Xxxx-Xxx Xxxxx )
Contact Telephone Number: 00-00000000000 ) /s/ Xxxx-Xxx Xxxxx
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Lessee: Supply Chain Services Limited )
Legal Representative: Xx. Xxxxxx X.X. Xxx )
Contact Telephone Number: 000-00000000 ) /s/ Xxxxxx X.X. Xxx
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Witnesses: /s/ Xxxxxxx Xxx
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Date: February 1, 2001
