Promissory Note between Green Forest Management Consulting Inc. and Xinpi Land Sellers (Yu Chien-Yang and Da Chuang Business Management Consulting Co., Ltd.)

Contract Categories: Business Finance › Note Agreements
Summary

Green Forest Management Consulting Inc. has issued a promissory note to Yu Chien-Yang and Da Chuang Business Management Consulting Co., Ltd. (the Xinpi Land Sellers) for TWD $53,238,851 as payment for certain land lots in Xinpi Township, Taiwan. The note specifies the amount owed to each seller and requires full repayment by December 31, 2013, according to the sellers' instructions. This agreement formalizes Green Forest's obligation to pay for the land as outlined in a related land sale and purchase agreement.

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EX-10.2 3 v359148_ex10-2.htm EXHIBIT 10.2

 

GREEN FOREST MANAGEMENT CONSULTING INC.

 

PROMISSORY NOTE

 

TWD $53,238,851

 

Dated: October 29, 2013

 

For value received, and pursuant to the Land Sale and Purchase Agreement dated October 29, 2013, Green Forest Management Consulting Inc. promises to pay the sellers of certain lots of land in Xinpi Township, Pingtung County 925, Taiwan (R.O.C.), Yu Chien-Yang and Da Chuang Business Management Consulting Co., Ltd. (together, the “Xinpi Land Sellers”) the sum of Fifty Three Million Two Hundred Thirty Eight Thousand Eight Hundred Fifty One New Taiwan Dollars (TWD $53,238,851). Each of the Xinpi Land Sellers’ ownership interests in this Promissory Note is detailed on Annex A to this Promissory Note.

 

The sum shall be repaid to the Xinpi Land Sellers on or before December 31, 2013 according to the instructions of the Xinpi Land Sellers.

 

  Green Forest Management Consulting Inc.  
       
  By: /s/ Chiang Yu-Chang  
    Chiang Yu-Chang  
    Chairman of the Board  
    Green Forest Management Consulting Inc.  
    Rm. B302C, 3F.-2, No. 185, Kewang Rd.  
    Longtan Township, Taoyuan County 325  
    Taiwan (R.O.C.)  

 

 
 

 

Annex A

 

PROMISSORY NOTE HOLDERS

 

Note Holder  Land Lot #  Total Area of
Registered Land (m2)		   Value of Interest (TWD) 
Yu Chien-Yang  1075, 1076, 1080, 1083, 1090   21,334.99 m2   TWD $38,723,007 
              
Da Chuang Business Management Consulting Co., Ltd.  1043, 1044-1, 1044-4, 1083-1, 1083-2, 1084, 1088-1   7,997.71 m2   TWD $14,515,844 
              
   Total:   29,332.7 m2   TWD $53,238,851