Transfer Agreement Between Jilin Nongke High-tech Industry Development Co., Ltd. and Jilin Hengchang Agriculture Development Co., Ltd. (March 1, 2011)
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Summary
Jilin Nongke High-tech Industry Development Co., Ltd. agrees to transfer ownership of the Jilin Gongzhuling National Agriculture Technology Demonstration Park, including land, buildings, and related facilities, to Jilin Hengchang Agriculture Development Co., Ltd. for a total price of 87 million RMB. The transfer will occur on March 10, 2011, with payment due by October 15, 2011. Party A is responsible for all transaction taxes and fees. Breaches will be handled according to contract law or by the relevant authorities. The agreement is effective upon signing by both parties.
EX-10.1 2 f10q0911ex10i_gsp2.htm ENGLISH TRANSLATION OF THE TRANSFER AGREEMENT DATED AS OF MARCH 1, 2011 BETWEEN HENGCHANG AGRICULTURE AND JILING NONGKE HIGH-TECH INDUSTRY DEVELOPEMNT CO., LTD f10q0911ex10i_gsp2.htm
Exhibit 10.1
TRANSFER AGREEMENT
Party A: Jiln Nongke Hich-tech Industry Development Co., Ltd.
Party B: Jilin Hengchang Agriculture Development Co., Ltd.
After friendly negotiations between Party A and Party B, and in compliance with national laws and regulations, the agreement related to the transfer of the technology demonstration park has been reached as follows:
| 1. | The subjects: |
Jilin Gongzhuling National Agriculture Technology Demonstration Park (located at Liufangzi Town Shanqian Village) for 180,000 square meters of land, the building area is 4,800 square meter, low temperature vegetable cold storage freezer 800 square meter and other facilities, detail assets see exhibit).
| 2. | Transfer price: |
The total transfer price for all subjects is eighty seven million RMB (RMB 87,000,000).
| 3. | Transaction and time: |
The demonstration park will be transferred to Party B on March 10, 2011.
Party B will pay off the transfer price prior to October 15, 2011.
| 4. | All taxes and fees incurred by Party A and Party B during the transaction will be borne by Party A. |
| 5. | Breach of Contract Responsibility: |
If any of the two parties beaches the contract, it will be determined by the relevant provisions of the contract law or sent to the jurisdictional department to rule.
| 6. | This contract has five copies, Party A has two copies and Party B has three copies. The effective date is the date that both parties sign this agreement. |
Party A: Jilin Nongke High-tech Industry Development Co., Ltd.
Legal Representative: Ren Xunhui （Corporate Seal）
Party B: Jilin Hengchang Agriculture Development Co., Ltd.
Legal Representative: Wei Yushan (Corporate Seal)
March 1, 2011
Exhibit
Asset Detail Schedule
Jilin Hengchang Agriculture Development Co., Ltd.
| Description | Unit | Quantity | Unit Price | Amount |
| Land | m² | 180,000 | 360.00 | 64,800,000.00 |
| Building (office) | m² | 3,260 | 4,200.00 | 13,692,000.00 |
| Low temperature food storage freezer | m² | 800 | 1,930.00 | 1,544,000.00 |
| Greenhouse | m² | 20 | 79,654.00 | 1,593,080.00 |
| Gate | m² | 567 | 793.65 | 450,000.00 |
| Sunny restaurant | m² | 1,843 | 194.79 | 359,000.00 |
| Aluminum mobile spray can | unit | 2 | 70,000.00 | 140,000.00 |
| Cement road drainage manhole | unit | 1 | 916,004.00 | 916,004.00 |
| Micro-irrigation equipments | unit | 30 | 3,666.67 | 110,000.00 |
| Pressure can equipments | unit | 1 | 27,000.00 | 27,000.00 |
| Cement drying yard | m² | 2,400 | 66.67 | 160,000.00 |
| Cultivation Facility | m² | 380 | 1,390.00 | 528,200.00 |
| Processing preservation equipment | unit | 780 | 1800.17 | 1,404,133.00 |
| Premium seed warehouse | m² | 600 | 500.00 | 300,000.00 |
| Cement road | m² | 3,460 | 109.83 | 380,000.00 |
| Drainage pipes | m² | 1,000 | 20.00 | 20,000.00 |
| 50KVA transformer | unit | 1 | 30,000.00 | 30,000.00 |
| Electricity control cabinet | unit | 3 | 11,000.00 | 33,000.00 |
| Transmission line | unit | 0.5 | 174,000.00 | 87,000.00 |
| Underground wire | m² | 1,500 | 76.67 | 115,000.00 |
| Culvert bridge | unit | 2 | 15,000.00 | 30,000.00 |
| White steel frame and retractable doors | unit | 1 | 82,500.00 | 82,500.00 |
| Brick Road | m² | 2,520 | 10.00 | 25,200.00 |
| Greenery walkway | m² | 1,300 | 46.15 | 60,000.00 |
| Sparse channel | unit | 3 | 10,000.00 | 30,000.00 |
| 2 ton boiler | unit | 1 | 36,000.00 | 36,000.00 |
| Greenery trees | group | 1 | 50,000.00 | 50,000.00 |
| Total | 87,002,117.00 |
