Farmland Undertaking Agreement between Shidui Village Local Government and Weifang Xinsheng Food Co., Ltd.

Summary

This agreement is between the local government of Shidui Village and Weifang Xinsheng Food Co., Ltd. It allows Weifang Xinsheng to use 5,000 acres of farmland in Shidui Village for 14 years, from January 1, 2009, to December 31, 2023. The company must prepay an annual fee of RMB 600 per acre, totaling RMB 3 million, which can be deducted when buying agricultural products from the farmers. The company is also responsible for providing seeds and farming facilities.

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EX-10.3 4 ex10_3.htm EXHIBIT 10.3 ex10_3.htm
 
 
Extracted of Farmland
Undertake agreement
 
Party A: The local government of Shidui Village Party B: Weifang Xinsheng Food Co., Ltd
 
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Party B is agreed to undertake a total of 5,000 acres of farmland situated within Shidui Village, Anqiu City, Shandong province for a period of 14 years starting from January 1, 2009 to December 31, 2023;
 
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Party B is agreed to prepay an annual undertaking fee of RMB600 per acre to the local farmer. The total amount is RMB 3million. This amount is deducible upon purchase of agriculture product from these farmers;
 
·  
Party B shall pay the undertaking fee on or before January 31, 2009;
 
·  
Party B is responsible for all seeds and related facilities for farming;