Lease Agreement between Great Shengda and Xin Shengda for Industrial Land Use (2010-2012)
Great Shengda (lessee) and Xin Shengda (lessor) entered into a lease agreement for the industrial use of land at 2, Beitang Rd, Xiaoshan Economic and Technology Development Zone, covering 112,437 square meters. The lease runs from January 1, 2010, to December 31, 2012, with an annual rent of RMB 1 million, payable at the end of each year. If Great Shengda wishes to terminate the lease early, Xin Shengda can decide whether to continue or end the agreement, and must notify Great Shengda in writing.
Exhibit 10.32
Lease Agreement
(English Summary)
| Date of Signing | Jan 1, 2010 |
| Lease Parties | Great Shengda as lessee and Xin Shengda as lessor. |
| Lease Address | 2, Beitang Rd, Xiaoshan Economic and Technology Development Zone |
| Lease Area | Land use right of 112,437 sqm |
| Lease Purpose | Industrial use |
| Term | From Jan 1, 2010 to Dec 31, 2012 |
| 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. |
