Loan Extension Agreement between Mr. Zhu Xiaojun and China HGS Real Estate, Inc. (July 2013)
Mr. Zhu Xiaojun and China HGS Real Estate, Inc. have agreed to extend a $1,810,000 loan for one additional year, until June 28, 2014, at an annual interest rate of 4%. The original loan was used by the company to invest in its subsidiary, Shaanxi Guangsha Investment and Development Group Co., Ltd. Both parties have signed and retained copies of the agreement, which continues the same terms as before.
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Party A: Mr. Zhu Xiaojun
Party B: CHINA HGS REAL ESTATE, INC. (“The Company”)
Subject: Extension of shareholder’s loan
On June 28, 2011, the Company entered into a one-year loan agreement (“USD Loan Agreement”) with Mr. Xiaojun Zhu, pursuant to which the Company borrowed $1,810,000 from Mr. Xiaojun Zhu to make a capital injection into Shaanxi Guangsha Investment and Development Group Co., Ltd “Shaanxi HGS”), the Company’s subsidiary. The interest rate for the loan was 4% per annum. On July 19, 2012, Mr. Zhu Xiaojun and the Company agreed to extend the term of loan for an additional one year period, or until June 28, 2013with the same interest term.
As of July 19th , 2013, the Company and Mr Zhu Xiaojun agreed to extend the term of the loan for an additional one year with the same interest term .
This loan agreement has two copies, each party has one copy.
| Signed by | /s/Zhu Xiaojun |
Mr. Zhu Xiaojun
Sealed by
CHINA HGS REAL ESTATE, INC
Signed on July 19, 2013
