English Translation of Leasehold Agreement, dated March 1, 2007, between Chongqing Xinshengxiang Industrial Development Co., Ltd. and Qiluo
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EX-10.3 10 ex10-3.htm ENGLISH TRANSLATION OF LEASEHOLD AGREEMENT EX-10.3
English Translation of
Leasehold Agreement
March 1st , 2007
Party A: Chongqing Xinshengxiang Industrial Development Co., Ltd.
(hereinafter called “Party A”)
Party B: Chongqing Qiluo Textile Co. Ltd. (hereinafter called “Party B”)
Through negotiation, Party A agree to loan to Party B its workshop, land and equipment located in No.88, Julong Road, Private Economic Development Zone, Lidu, Fulin, Chongqing for Party B’s operation. Both parties achieve the agreement as follows:
| 1. | From March 1st , 2007 to March 1st 2026, Party A should loan to Party B its workshop, land and equipment with rentals of ¥ 17100 per month, Party B should take charge of payment of water, electricity and gas as well as cleaning fee. The are is approx. 122,000.00 Square foot. |
| 2. | Party B bears responsibility of guaranteeing building in good condition and should compensate ad val. for the defective. |
| 3. | Party B should notice Party A 30 days in advance if deciding to terminating this agreement due to certain reasons. |
| 4. | The Agreement is made in two counterparts to be held respectively by each of the parties. |
| Party A | Party B |
