Lease Agreement
EX-10.20 4 v218710_ex10-20.htm Unassociated Document
Lease Agreement
Party A: Feng Shaoji
Party B: Shenzhen ORB-FT New Materials Co., Ltd.
Party A and Party B enter into this agreement based on friendly consultation in relation to leasing Party A’s property to Party B as office and warehouse. The property (hereinafter referred to as leasehold) hereunder is located at No.2-2, No.12 Building, Longtun Road, Liuzhou City. Both parties agree as following:
| 1. | Party A shall provide necessary household electrical appliance, furniture, and kitchen ware to Party B for use. The monthly rental is RMB1200, which may be adjusted based on the market price). |
| 2. | The expense in associated with property management, TV, phone bills, water and electricity etc. shall be paid by Party B as per the actual cost. |
| 3. | Method of payment: Party B transfers the aforesaid payment to Party A’s account. |
| 4. | In the period of lease term, Party B shall comply with related law, manage the sanitation, and prevent the leasehold from fire and thieves. If Party B fails to comply, any loss caused herein shall be undertaken by Party B and Party A has the right to take back the property and terminate this agreement. |
| 5. | Under the terms of this agreement, Party B shall deposit RMB1000 in Party A’s account as rental bond. |
| 6. | If either party requests to terminate this agreement, he should notify the other party prior to a month. |
| 7. | The lease term is one year dated from January 1st, 2011 to December 31st, 2011. The agreement shall be renewal and signed if both parties agree to continue the lease. |
This agreement comes into effect after signature of both sides.
Date: January 1st, 2011
Party A (signature): Feng Shaoji
Party B: Shenzhen ORB-FT New Materials Co., Ltd.
Party A’s bank account No.: 2105 4598 0120 1334 037*
Bank name: Industrial and Commercial Bank of China Liuzhou Hexi Branch
Account name: Feng Shaoji
