Side Agreement to Land Lease Contract between Qianjin Village Committee and Wuhan Fengze Agricultural Science and Technology Development Co., Ltd.
This agreement is between the Qianjin Village Committee (Party A) and Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. (Party B). It allows Party B to build and own structures and cultivate crops on leased land, with all construction and planting costs borne by Party B. Party B retains exclusive rights to any buildings and crops, and will receive compensation for above-ground assets if the land is taken by the government. Upon lease expiration, Party B may remove its structures. Disputes will be resolved locally by arbitration or court.
Exhibit 10.14
Side Agreement Related to Land Lease Contract - Jinmu
Jan 28th, 2007
Party A: Wuhan Caidian District Yuxian Town Qianjin Village Committee (Hereinafter refer to as Party A)
Party B: Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. (Hereinafter referred to as Party B)
Party A is willing to rent the semi-hillside land in front of Qianjin elementary school to Party B for cultivation development. Besides two parties have already entered a Land Tenancy Agreement of Caidian District; concerning the pertinent matters, the following issues are hereby agreed by consensus:
| 1. | Party A consents that Party B can build houses for the need of cultivation in the rented land like office, dormitory, duty room, warehouse, job shop, hog house, etc. |
| 2. | All the construction costs and other relevant charges will be paid by Party B. The property rights and rights to use of all the houses built are exclusively owned by Party B, which Party A has no right to interfere. |
| 3. | The property rights and operational rights of the trees, fruits and vegetables newly planted by Party B in the land rented shall exclusively be owned by Party B, which Party A has no right to interfere. |
| 4. | In case that land imposition for government’s policy purpose occurred, all the compensation above ground shall belong to Party B; the value concerning the land itself shall belong to Party A. |
| 5. | On the expiration of the lease, if Party B no longer rents the land, the constructions above ground should be disposed by Party B and Party A has no right to interfere. |
| 6. | The two parties voluntarily abide by the above agreements; any party in breach should bear the economical responsibility caused to the other party and the corresponding legal responsibilities. |
| 7. | This agreement is sealed in duplicate, each party holds one copy. If occurred, any disputes should be resolved by the arbitration authority or the People’s Court on the location where Agreement perform. |
Party A: Wuhan Caidian District Yuxian Town Qianjin Village Committee
Wuhan Caidian District Yuxian Town Qianjin Village Committee (seal)
Party B: Wuhan Fengze Agricultural Science and Technology Development Co., Ltd.
Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. (seal)
