Compensation AgreementCompensation Agreement • July 10th, 2020 • Victory Commercial Management Inc. • Real estate operators (no developers) & lessors
Whereas: in the past friendly cooperative relationship between the two parties, Party A provided Party B with stores of Dalian Victory Plaza of an area of 14.58 m2 as a mortgage guarantee for a loan of RMB 5 million Yuan in Dalian Jinzhou Lianfeng Rural Bank Co., Ltd. on May 19, 2017. Up to now, Party B has not repaid the above loan or replaced the collateral as required by Party A. It has a serious adverse impact on the operation and management of our company. Considering that Party B is unable to repay and replace the collateral at present, in order to protect Party A’s legitimate rights and interests from loss, now Party A and Party B have reached the following agreement on matters related to Party A’s provision of assets to Party B for bank mortgage loan through full consultation:
Compensation AgreementCompensation Agreement • July 10th, 2020 • Victory Commercial Management Inc. • Real estate operators (no developers) & lessors
Whereas: in the past friendly cooperative relationship between the two parties, Party A provided Party B with stores of Dalian Victory Plaza of an area of 137.79 m2 as a mortgage guarantee for a loan of RMB 5 million Yuan in Dalian Jinzhou Lianfeng Rural Bank Co., Ltd. on May 19, 2017. Up to now, Party B has not repaid the above loan or replaced the collateral as required by Party A. It has a serious adverse impact on the operation and management of our company. Considering that Party B is unable to repay and replace the collateral at present, in order to protect Party A’s legitimate rights and interests from loss, now Party A and Party B have reached the following agreement on matters related to Party A’s provision of assets to Party B for bank mortgage loan through full consultation:
