Building Construction Contract
Exhibit
10.17
Party A:
Chongqing Foguang Tourism Development (Group) Co., Ltd. (“Foguang”)
Party B:
Chongqing Hongxing Construction Co., LTD (“Hongxing”)
Both
parties executed the following contract (Chuangzi Temple- Figure of Mercy Buddha
and Chuangzi Temple Road Construction) under the principle of mutual benefit and
equal cooperation:
Chapter
1: Project Overview
1. Name
of the project:
A)
Chuangzi Temple- Figure of Mercy Buddha
B)
Chuangzi Temple Road Construction
2.
Location of the project: Group 0, Xxxxxxxx Xxxxxxx, Xxxxxxxx Xxxx, Xxxxxxxxx
Xxxxxxxx
Chapter
2: Scope of work
Hongxing
will contract the entire project, which includes transportation, earthwork
excavation and backfilling in accordance with the blueprint and this agreement.
The length and width of the Chuangzi Road is 1,500 meters and 7 meters. The
gravel thickness, stone thickness and C30 concrete thickness of the
road are 30cm, 5cm and 20cm, respectively.
Chapter
3: Contract Amount
1.
Chuangzi Temple: 18.50 Million XXX
0.
Xxxxxxxx Xxxx: 5.10 Million RMB
Total
contract amount is: 23.60 Million RMB. This amount includes all
management fee, tool fees, transportation fees, insurance fees and taxes of the
entire project.
Chapter
4: Construction Period (150 Days)
1.
Commencement Date: November 1, 2010
2.
Completion Date: March 31, 2011
Chapter
5: Technical Requirement
1.
Hongxing shall command construction workers to perform the work in accordance
with the construction specifications and construction regulations.
2. The
process of construction is technical clarification, construction, inspection and
acceptance. Before the completion of the prior process, the contractor cannot
start the second step of the constriction process.
Chapter
6: Obligations and Tasks of Parties
1.
Obligation and tasks of Foguang
A)
Coordinate the working relationship for Hongxing.
B) Send
the management team to the construction site. Foguang shall supervise the
construction steps and process orders, and the quality of the construction
building.
2.
Obligation and tasks of Hongxing
A)
Strictly enforce the requirements on the project schedule, quality and safety in
accordance with the contract terms.
B)
Strengthen the work management. Hongxing shall educate workers to comply with
the law. Hongxing shall apply temporary residence permits for mobile workers.
Hongxing shall enhance safety, fire and security awareness.
C) Ensure
that all type of workers have valid certificates for performing related
works.
D)
Hongxing must submit the schedule of the construction work for current month to
Foguang. Also, Hongxing shall report the amount of completed work to Foguang on
the 25th every
month.
Chapter
7: Project Acceptance
1. The
acceptance of the project will be based on the National Quality Standards of the
Construction Work. All different type of works must be qualified
under this main project.
2. Only
the employee who is designated by Foguang can sign off on the acceptance
report.
3. If the
quality of the constriction is not qualified and cased by the Hongxing, Hongxing
shall be responsible for all costs of repair and reconstruction.
Chapter
8: Payments
Foguang
shall make a payment, which is close to 80% of the total construction work in
that month. If Hongxing did not complete the scheduled construction works in
that month, Foguang only needs to make a payment, which is equivalent to 70% of
the total construction work. After signature of both parties, the project funds
will be paid by bank transfer.
1. If the
quality of the project meets the regulations and standards of the authority
department, Foguang shall make a full payment in accordance with this contract;
if the quality of the projects does not meet the construction standard, Foguang
only needs to make 90% of the payments to Hongxing.
2. All
payments shall be made within one month after acceptance.
Chapter
9: Safety Responsibility
Hongxing
must perform the construction work in accordance with Foguang’s regulation. If
Hongxing violated the security regulation and caused security incidents,
Hongxing shall be responsible for all fees incurred. Foguang shall
not be responsible for any economic and legal responsibilities.
Chapter
10: Matters not mentioned herein shall be settled or negotiated by both parties.
The new terms will be made as the supplement contract for this
agreement.
Chapter
11: Other Agreement
If
Foguang is not satisfied with Hongxing’s construction work, Foguang has rights
to hire other contractors for completing the remaining construction
work.
Chapter
12: The contract has been written in triplicate. Each of the parties shall keep
one of the copies. All copies shall have the same legal effect.
Seal of
Chongqing Foguang Tourism Development (Group) Co., Ltd.
Seal of
Chongqing Hongxing Construction Co., Ltd.
Date:
November 1, 2010
