Loan Agreement Between Ever Trend Investment Limited and Liu Lu Dated September 16, 2010

Contract Categories: Business Finance › Loan Agreements
Summary

This agreement is between Ever Trend Investment Limited and Liu Lu. Liu Lu is lending USD 100,500 to Ever Trend Investment Limited to be used as registered capital for Run Ze Yong Cheng (Beijing) Technology Co., Ltd. The loan carries an annual interest rate of 3%, calculated on a 360-day year, and must be repaid by December 31, 2010. If not repaid in cash, Liu Lu may request repayment in CHIO stock of equal value. Late repayments incur a 0.1% daily penalty.

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EX-10.2 3 ex10_2f8k09162010.htm LOAN AGREEMENT DATED SEPTEMBER 16, 2010 BETWEEN EVER TREND INVESTMENT LIMITED AND LIU LU. ex10_2f8k09162010.htm
 
Exhibit 10.2
 
LOAN AGREEMENT

Party A                     :           Ever Trend Investment Limited（德祥投资有限公司）
PartyB                      :           Liu Lu （刘璐）(Identity Card no.：130203197805150323)
 
Whereas Party A demand for operating cashflow and borrow a loan from Party B, both Party A and Party B agree the terms as below:

 
1.              Loan amount: USD One Hundred Thousand and Five Hundred Only (RMB100,500) for injection of registered capital of Run Ze Yong Cheng (Beijing) Technology Co., Ltd. of Party A.
 

 
2.              Loan interest:  Annual rate at 3%, from the date of borrowing to repayment, both days inclusive.  For interest calculation, there is 360 days per year.  Loan interest is payable on the repayment of loan.
 

 
3.              Repayment:    On or before December 31, 2010.  If Party A could not repay in cash, Party B has right to request the same value of stock issued by CHIO.  Any delay repayment is subject to late charges of 0.1% per day.
 

 
4.              This Agreement in duplicate and each party has one.
 

 
Party A:                                                                                                                     Party B:
 
Ever Trend Investment Limited                                                                                     Liu Lu （刘璐）
 
（德祥投资有限公司）
 

 

 
/s/Wang Zhenyu                                                                                                           /s/ Liu Lu
 
September 16, 2010                                                                                                     September 16, 2010