Supplementary Agreement to House Property Transfer Contract between Tianjin Mengyang Biotechnology Co., Ltd. and Tianjin Yayi Industrial Co., Ltd.
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Summary
Tianjin Mengyang Biotechnology Co., Ltd. and Tianjin Yayi Industrial Co., Ltd. have agreed to extend the deadline for transferring a house property from September 30, 2008, to May 31, 2009, due to construction delays caused by government orders during the Beijing Olympic Games and the approaching winter. Both parties agree that these delays were unavoidable and will not hold each other responsible for breach of contract. All other terms of the original House Property Transfer Contract remain unchanged.
EX-10.8 3 v139601_ex10-8.htm
Supplementary Agreement to
The House Property Transfer Contract
Dated January 15, 2007
Party A: Tianjin Mengyang Biotechnology Co., Ltd.
Business License No.: 120223000009884
Address: Jinhai Road, Jinghai Economic Development Area, Tianjin 301600
Tel: 022-27984733
Party B: Tianjin Yayi Industrial Co., Ltd.
Business License No.: 120193000003231
Address: Unit C, 4th floor, D1 Building, Xinmao Technology Park, Huayuan
Industrial Park Area, Tianjin 300384
Tel:022-27984058
Since party A and B had signed the Plant Transfer Contract on January 15, 2007, both parties have negotiated and achieved the following agreement on the above mentioned Plant Transfer Contract on the basis of the relevant laws and regulations of the People’s Republic of China:
A. Time Limit for Transferring the House Property
Since the construction of four-stories office building was stopped during the Beijing Olympic Games under the requirement of the local government of Tianjin, and considering that the winter season is drawing near right after the end of the Olympic Games, party A and B have negotiated and agreed that the time limit for transferring the house property should be extended from September 30, 2008 to May 31, 2009. The related time limit will be subject to this Supplementary Agreement.
B. Responsibilities for Breaching
Both party A and B regard the forces which had led to the delay of the above mentioned time limit as irresistible forces. Therefore, neither party would request the other to undertake the responsibilities for breaching stated in the House Property Transfer Contract.
C. Other clauses remain the same as the above mentioned House Property Transfer Contract.
The agreement should be in duplicate, with each of party A and B holding one original copy.
The agreement is valid after both parties have stamped or signed on it。
Party A (stamp): _________________ | Party B (stamp): __________________ |
Signature: _______________ | Signature: ______________ |
Date: October 12, 2008 | Date: October 12, 2008 |