Rental Contract
EXHIBIT
4.16
Lessor:
Ping Hu City Xin Xxx Xx Xxxx Xxx Economic Corporation (Party A)
Lesser: Ping
Hu
Golden Bright Plastic Manufacturing Ltd. (Party B)
Party
A
and Party B made the mutual agreement as stated below:
| 1. |
Party
A shall rent the factory and dormitory total area of 9,400 square
meters
which located in Xxxxxxxx X0 & X0, Xxxx Xxxxx Xxxxxxxxxx Xxxx, Ping
Hu, China. The rental period is ten years from 15th
June 2002 to 15th
June 2012.
|
| 2. |
Payment
Term: RMB9.5 per square meter and total RMB89,300 per month started
from
15th
June 2006.
|
| 3. |
Payment
Method: One month deposit and one month rental fee shall be paid
in
advance when the contract signed. Party A shall refund the deposit
without
interest included to Party B after the expiry of contract if Party
B is
not intend to renew the contract and fully paid all the outstanding
water
and electricity xxxx. Monthly rental fee due on the last day of each
month. If rental fee is overdue for one to two month, Party A resumes
the
right to cut the water and electricity supply until all outstanding
rental
fee is fully paid.
|
| 4. |
During
the rental period, Party B shall comply with the Law of PRC and the
regulation imposed by the Provincial Government. Party B shall bear
all
the responsibility for breaching the law and regulation. Party A
shall
responsible for the property tax only and Party B shall bear all
the
liability of other tax and fees imposed by the
government.
|
| 5. |
Party
A shall responsible for installing two set of 315 thousand volt
transformers to Party B (Party B shall bear all the repairing cost
during
the contractual period). Party B is allowed to construct any building
in
the area in front of factory under safety rule of fire-prevention
and the
construction shall not tear down without the permission from Party
A and
the ownership shall transfer to Party A after the expiry of
contract.
|
| 6. |
Party
B shall have priority to rent the location after expiry of the contract
and the rental fee is subject to change. Party B shall compensate
one-month rental fee to Party A if Party B terminates the contract
before
expiry. Party B shall repair all the damaged structure or compensate
Party
A for the damage before moving out.
|
| 7. |
This
contract is made in two copies and each party shall hold one copy.
This
contract will be effective from the date of the two parties
signed.
|
|
Party
A: signed
|
Party
B: signed
|
