Complementary Agreement to Land Mortgage Loan Contract between Shijiazhuang Zhongbo Automobile Co., Ltd. and Northern Altair Nanotechnologies Co., Ltd.
This agreement is between Shijiazhuang Zhongbo Automobile Co., Ltd. (the lender) and Northern Altair Nanotechnologies Co., Ltd. (the borrower). It modifies two previous land mortgage loan contracts totaling RMB 59,400,000. The main change is that no interest will be charged on the loans for 2015 and 2016; interest will start accruing from 2017. All other terms of the original contracts remain unchanged. Both parties retain two copies of this agreement.
Exhibit 10.70
Complementary Agreement of Land Mortgage Loan Contract
Party A (Lender): Shijiazhuang Zhongbo Automobile Co., Ltd. (hereinafter referred to as "Party A")
Party B (Borrower): Northern Altair Nanotechnologies Co., Ltd. (hereinafter referred to as "Party B")
1. Party A and Party B signed two sums of land mortgage loan contracts respectively in September 2015 and March 2016; the total amount of the two loan contract is RMB 59,400,000.00. After friendly negotiation of both parties, the loan interest of Article I under the original contract has changed as: The loan interest of the two sums in 2015 and 2016 is zero; it begins to calculate interest accrual from 2017.
2. The original contract clauses are invariant.
3. This agreement is in quadruplicate with Party A and Party B holding two respectively.
| Party A: Shijiazhuang Zhongbo Automobile Co., Ltd.
Shijiazhuang Zhongbo Automobile Co., Ltd. (Seal) | Party B: Northern Altair Nanotechnologies Co., Ltd.
Northern Altair Nanotechnologies Co., Ltd. |
| Legal representative (or authorized representative): Sun Guohua
| Legal representative (or authorized representative): Wei Guohua
|
| MM/DD/YYYY | MM/DD/YYYY |
