UnofficialTranslation Exhibit10.35 GasStation Lease Agreement
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- Lease Agreements
EX-10.35 6 v143831_ex10-35.htm Unassociated Document
Unofficial Translation
Exhibit 10.35
Gas Station Lease Agreement
Party A: Shaanxi Highway Service Co. Ltd.
Party B: Xi’an Baorun Industrial Development Co., Ltd.
This contract is made by and between Party A and Party B based on the principle of equality, mutual benefits and good faith discussion and pursuant to Contract Law of the People's Republic of China. The two parties agreed the following:
1. | Party A agrees to lease 4 gas stations to Party B for operation. Two of them are located in Xihan Highway (from Xi’an to Hanzhong city) Yang County area and take 2200㎡, have 5×100=500m3 storage capacity and 4×4 refueler respectively; and two of them are located in Xiyu Highway Cheng County area, take 2000㎡, have 5×100=500m3 storage capacity, and 6×2 refueler respectively. |
2. | The lease term is fifteen years (from June 1, 2008 to May 31, 2023). |
3. | The annual rent for each gas station is three million Yuan including the land use right, buildings, other facilities and operating right. |
4. | Party A shall deliver relative documents or licenses to Party B in one week after signing the Agreement. Party B shall pay off the rent for five-year in two months after receiving all of the required documents. Party B shall pay the rent every five years till the termination of this Agreement. |
5. | Party A has the ownership of the gas stations and Party B shall own the income during the operation. Without the approval of Party B, Party A shall not transfer, re-lease or pledge these four gas stations to any third party. Party B has the priority leasing and purchasing rights for the four gas stations. |
6. | During the term of the Agreement, Party A shall be responsible for handling all kinds of outside relations to provide Party B favorable operation conditions. If Party B cannot conduct the normal operation for the reason of Party A, Party A shall indemnify Party B for all loss and damages for this. |
7. | Party B shall operate the gas stations independently, be responsible for its own profits and losses and pay the tax upon relative regulations. |
8. | During the term of this Agreement, Party B’s modification or expansion of the gas stations is subjected to Party A’s approval. Party A shall bear the expenses. After the Agreement expires, Party A may dispose the facilities purchased by it. |
9. | Party A shall undertake the debts before Party B’s operation and Party B shall bear the debts after operating the gas stations. |
10. | During this Agreement, if Party B cannot operate the gas stations for the reason of public policy Party A shall refund the unexpended portion that Party B has paid to Party B. |
11. | If this Agreement expires and Party B has no intent to renew Party B shall deliver all of the documents and licenses to Party A in thirty days. |
12. | If there are any matters not covered by this Agreement, parties hereto may negotiate it in an amendment. The amendment to this Agreement has the same validity as this Agreement. |
13. | The Agreement is in duplicate and each Party shall hold one copy. The Agreement is effective upon signing by the two parties hereto. |
Party A: Shaanxi Highway Service Co. Ltd. (Seal)
(By legal representative): /s/
Party B: Xi’an Baorun Industrial Development Co., Ltd. (Seal)
(By legal representative): /s/
Dated: May 20, 2008