Maximum Bank Collateral Agreement No. 2010-8070 between Financial Service Center for Small Enterprise of Suining City Commercial Bank and Suining Yinfa DAR Industrial Co., Ltd
This agreement is between the Financial Service Center for Small Enterprise of Suining City Commercial Bank and Suining Yinfa DAR Industrial Co., Ltd. The company is providing certain floors of its building as collateral to secure a loan of RMB 3,000,000, with a term from December 27, 2010, to December 27, 2015. If there is a dispute, it will be resolved in the court where the bank is registered. The collateral is valued at RMB 5,000,000, but the final value will be determined at settlement.
Exhibit 10.2
Maximum Bank Collateral Agreement
No. 2010-8070
Mortgagee: Financial Service Center for Small Enterprise of Suining City Commercial Bank
Debtor: Suining Yinfa DAR Industrial Co., Ltd
Mortgagor: Suining Yinfa DAR Industrial Co., Ltd
I. Mortgagor intends, with the Collateral, to secure and vouch for, on a voluntariness basis, the repayment of the loan of RMB ￥ 3,000,000, with loan term from December 27, 2010 to December 27, 2015, by the Debtor to the Mortgagee.
II. Collateral
The Mortgagor agrees to provide the ground floor, the 2nd floor and the 3rd floor of the Estate Management Building of Yinhejiayuan (address: No. 188 Xishan Road, Suining) as the collateral. Details please refer to List of Mortgage 2010-8070.
The Collateral is evaluated for RMB ￥ 5,000,000. The actual value will be determined by the net price in settling the mortgage.
III. The Agreement will be kept in quintuplicate, which are equally authentic.
IV. Dispute Any dispute incurred from this Agreement shall be submitted to the People’s Court at the registration place of the Mortgagee.
Mortgagee (Seal): Financial Service Center for Small Enterprise of Suining City Commercial Bank
Customer Service Manager:
Legal Representative or Authorized Representative:
Debtor (Seal): Suining Yinfa DAR Industrial Co., Ltd
Legal Representative or Authorized Representative: Wang Jiayin
Mortgagor (Seal): Suining Yinfa DAR Industrial Co., Ltd
Legal Representative or Authorized Representative: Wang Jiayin
Signed on December 27th, 2010
Signed at Suining City Commercial Bank
