Lease Agreement between Hangzhou Shengming and SD Group for Industrial Land Use (2007-2010)
Hangzhou Shengming (lessee) and SD Group (lessor) entered into a lease agreement for the industrial use of 47,942 square meters of land in Xiang He Qiao Village, Xiaoshan District. The lease runs from January 1, 2007, to December 31, 2010, with an annual rent of RMB 1 million, payable at the end of each year. If the lessee terminates the lease early, the lessor can choose to continue or end the agreement, with written notice required. The lessee must keep their mailing address updated with the lessor.
Exhibit 10.29
Lease Agreement
(English Summary)
| Date of Signing | Jan 1, 2007 |
| Lease Parties | Hangzhou Shengming as lessee, SD Group as lessor |
| Lease Address | Xiang He Qiao Village, He Shang Town, Xiaoshan District |
| Lease Area | Land use right of 47,942 sqm |
| Lease Purpose | Industrial use |
| Term | From Jan 1, 2007 to Dec 31, 2010 |
| Rent | RMB 1 million per annual, payable at the end of each calendar year |
| Termination | During the term of the Agreement, if lessee terminate the lease agreement, the lessor shall have the right to decide if this Agreement will be continued or terminated. In this circumstance, if lessor decides to terminate the Agreement, lessor shall notify lessee in writing. Lessee shall make sure the validity of its mailing address and notify lessor of any change of mailing address in writing, otherwise, when lessor sends the notice to lessee’s designated mailing address, the return date of the mail shall be deemed as the notice date. |
