LandLease Agreement
EX-10.67 10 ex10-67.htm EXHIBIT 10.67 ex10-67.htm
Exhibit 10.67
Land Lease Agreement
Party A: Jianou Lujian Foodstuff Co., Ltd. |
Party B: Council of Jixi Village, Yushan Town, Jian’ou |
The Parties have entered into the agreement following amicable consultation. The Parties agree as follows: |
I. Term: |
The plot that Party intends to lease to Party A is a bamboo groove at Lingkou Village of Yushan Town, covering an area of 41,526 mu, which is collectively owned by the villagers of Lingkou. Party A expresses its intention to the village Council to convert this plot into a bamboo cultivation base in January 2007. Party B agrees to lease the plot to Party B for a term of 30 years, between January 1, 2007 and December 31, 2036. |
II. Party A’s obligations and responsibilities: | |
1. | To safeguard the interests of both Parties and keep the project rolling on, the Parties agree that Party A shall pay Party B RMB 24 million Yuan as a margin, which shall be settled through 4 phases, as follows: |
Phase I: RMB 1.6 million Yuan, prior to January 31, 2007; | |
Phase II: RMB 5.6 million Yuan, prior to January 31, 2008; | |
Phase III: RMB 8 million Yuan, prior to May 31, 2009; and | |
Phase IV: RMB 8.8 million Yuan, prior to May 31, 2010. | |
Party A shall not miss the above-mentioned deadline by more than one month. | |
2. | Party A shall pay Party B the rent every five years during the term hereof. The rent will be calculated at an incremental rate of 10% for each payment, starting from first payment: RMB 1.8 million Yuan (as agreed, a discounted rate of RMB 700,000 Yuan is given); second payment shall be RMB 1.98 million Yuan (1.8+1.8* 10%); and third payment shall be RMB 2.2 million Yuan (l.98+1.98*10%); and so on. |
3. | Party A shall pay the rent prior to February 28 of each year, and shall not delay payment for over a month. |
4. | The settlement of margin: The Parties agree that the margin shall be used to offset the rent for the last ten years of the Term. |
5. | Party A shall give villager first emptive rights when employment opportunities arise from the base. Party A shall engage its own technical personnel to perform maintenance of the base. |
6. | Party A shall be responsible for the harvest of bamboo shoots. During the Term hereof, the ownership of all produce grown in the base shall be vested opon Party. |
7. | Upon Party B’s reclaim of the base following termination hereof, the number of bamboo shoots for every mu shall not be less than 120. |
II. Party B’s Obligations and Responsibilities: | |
1. | Party B shall help smooth out the relationship between Party A and the villagers, and help settle the disputes, if any. |
2. | Party B shall ensure that Party A does not grow any other produce on the base, or apply fertilizers or pesticides during the term hereof. |
3. | Party B shall prevent any theft by the villagers on the base. |
4. | During the harvest season of January through April, Party B shall have the obligation to help Party A collecting the harvested bamboo shoots. |
III. Breach of Agreement | |
1. | Party A shall pay the margin and rent as specified, and a delay beyond the aforementioned grace period shall constitute breach hereof, in which case, Party B shall have the right to confiscate the margin and terminate the Agreement. |
2. | Party A may notify Party B its intention to terminate the Agreement during the term hereof, but the margin shall not be refundable. But if Party A can find a third Party to assume its responsibilities and obligations hereof without damaging the interest of Party B, the Agreement may be transferred. |
3. | Party B shall not terminate the Agreement without any reason during the term hereof or enter into separate agreement with any third party. In case of breach hereof, Party B shall be held liable for a liquidated damage times three of the margin. |
IV. Miscellaneous | |
1. | This Agreement shall be executed in three counterparts and come into force upon execution. |
2. | The Parties may enter into separate agreement for matters not mentioned herein. |
Party A: Jianou Lujian Foodstuff Co., Ltd. | Party B: Council of Jixi Village, Yushan Town, Jian’ou |
Representative: Tang Jinrong | Representative: Zhang Jiafu |
Date: December 17, 2006 | Date: December 17, 2006 |
Notarial Certification
(2006) Jian Zheng Zi No. 0891 |
This is to certify that Tang Jinrong, representative of Jianou Lujian Foodstuff Co., Ltd. and Zhang Jiafu, representative of Xiji Village, Yushan Town, Jian’ou entered into a land lease agreement on December 17, 2006 at this notary office. |
Jian’an Notorial Office
Notary: Zhang Jianguang
December 17, 2006