Loan Amendment Agreement between Mr. Zhu Xiaojun and China HGS Real Estate, Inc.
Mr. Zhu Xiaojun and China HGS Real Estate, Inc. have agreed to extend a $1,810,000 loan originally made in 2011 for an additional year, now maturing on June 28, 2013. The loan, used by the company to fund its subsidiary, carries a 4% annual interest rate. Both parties have signed the amendment, and each retains a copy of the agreement.
Exhibit 10.1
Loan Amendment Agreement
Party A: Mr. Zhu Xiaojun
Party B: CHINA HGS REAL ESTATE, INC. (“The Company”)
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 is 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, 2013. The interest rate for the loan is is 4% per annum.
This loan agreement has two copies, each party has one copy.
Signed by Party A
Signed by Part B
Signed on July 19, 2012
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