Mutual Agreement to Postpone Loan Repayment between Hong Kong Huaxia International Industrial Co., Ltd. and Zhang Fei

Contract Categories: Business Finance › Loan Agreements
Summary

Hong Kong Huaxia International Industrial Co., Ltd. and Zhang Fei have agreed to extend the repayment deadline for a $6,000,000 loan. Although the fixed assets purchased by Party A have not been delivered and the purchase funds have not been returned, Party B consents to postpone the loan repayment until June 30, 2014. This agreement outlines the new repayment date and is signed by both parties.

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EX-10.1 2 f10q0314ex10i_chinaginseng.htm MUTUAL AGREEMENT f10q0314ex10i_chinaginseng.htm
Exhibit 10.1
 
Agreement (Translation)
 
Party A: Hong Kong Huaxia International Industrial Co., Ltd.
Legal Representative: Liu, Changzhen
ID number: 220502195508150039
 
Party B: Zhang, Fei
ID number: 320830197612122075
 
Considering fixed assets purchased have not been delivered, Party A decides to return the fixed assets this quarter. However, the purchase funds have not been returned yet. So Party B agrees to postpone the repayment due date of $ 6,000,000 loan to June 30, 2014.
 
Party A: Hong Kong Huaxia International Industrial Co., Ltd. (Stamped)
Legal representative signature：/s/ Liu, Changzheng
 
Party B: Zhang, Fei
Signature:/s/ Zhang, Fei
March 3, 2014