Exhibit 10.2
(Mortgage Contact No.
4403402912009110028 Loan Contract)
China Development Bank Co.,
Ltd.
RMB Capital Loan
Mortgage contract
Mortgagor: Shenzhen Diguang Electronics Co.,
Ltd.
Mortgagee: China Development Bank Co.,
Ltd.
Mortgagor:
Shenzhen Diguang Electronics Co., Ltd.
Address:
23 rd
Floor, Galaxy Century Building A,
No.3069, Caitian Road, Futian District, Shenzhen
Legal
Representative: Yi Song
Responsible
Person: Mingbo Ge
Mortgagee:
China Development Bank Co., Ltd.
Address:
29 th
Fuchengmenwai Dajie, Xicheng
District, Beijing
Legal
Representative: Yuan Chen
Administering
Branch: China Development Bank Co., Ltd, Shenzhen Branch
Branch Address:
12-15 th
floor, Citic Building, No.1093,
Shennan Road
Branch
Representative: Xiaoping Yu
Branch
Responsible person: Yonghong Deng
To ensure that the borrower, Shenzhen Diguang
Electronics Co., Ltd., fulfills its loan contract No.
4403402912009110028 signed with the Mortgagee (hereinafter referred
to as the “Main Contract”), the Mortgagor is willing to
mortgage property listed in the list of collateral (see Annex 1) to
provide the guarantee to the Mortgagee. The Mortgagor and Mortgagee
have reached an agreement to conclude this contract.
Except for the other stipulation of this
contract, the terms relating to the definition in this contract are
the same as the Main Contract.
The names and the related information of these
guaranties under this contract are shown in Annex 1
hereto.
Under the Main Contract, the borrower borrows
RMB30 million that is thirty million Yuan from the Mortgagee for
one year, that is from the draw down date to the first anniversary
of such date.
The scope of guarantee in this contract includes
all principal, interest, default interest, compensation, liquidated
damages, damage awards and costs to gain the right of mortgage of
the borrowed amount.
With the repayment of principal amount borrowed
in the Main Contract, the principal amount secured under this
contract reduces correspondingly.
4.
Representations and Warranties given by the Mortgagor
(A) The
Mortgagor is a legal person established according to the law, who
owns valid business license and possesses its assets, operates its
business in accordance with the law.
(B) The
Mortgagor legally possesses the ownership or the disposition of the
collateral. If the collateral belongs to the property that can be
mortgaged upon the approval or consent of the parties concerned in
accordance with the law, the Mortgagor ensures the validity of its
approval or consent; there is no dispute of ownership or
disposition concerning the collateral.
(C) Except for
the mortgage defined in this contract, there is no form of
security, leasing, trusteeship, jointly-owned or other ownership
disputes of the collateral;
(D) In order to
sign the contract, the Mortgagor has completed all the required
authorization procedures which is legitimate and
effective.
(E) All
documents and materials provided by the Mortgagor are true,
accurate and complete.
The above
statement and guarantee are valid for the duration of the
contract.
5. Obligations
of the Mortgagor
(A) The
Mortgagor should take good care of the collateral, and accept the
check by Mortgagee at any time. For the proposal suggested by the
Mortgagee for the purpose of ensuring good collateral during an
inspection, the Mortgagor should take corresponding measures in
time. All the costs of custody and maintenance should be borne by
the Mortgagor.
(B) Without the
written consent of the Mortgagee, the Mortgagor shall not dispose
of collateral in any way.
(C) If the
Mortgagor intends to change the business name, domicile, legal
representative, registered capital, business scope, company type,
articles of incorporation, the Mortgagee shall be notified in
writing 10 days before, and be reported with the related documents
for records.
(D) Within
three working days after registration of collateral, the Mortgagor
should deliver the property (disposition), certificates or
certificates of mortgage to the Mortgagee.
(E) All the
fees of concluding and implementing the contract should be borne by
the Mortgagor.
(F) If the
conduct of the Mortgagor is enough to reduce the value of
collateral, the Mortgagee has the right to request the Mortgagor to
make the restitution or to provide the security. If the
above-mentioned request was rejected, the Mortgagee may request the
debtor to fulfill obligation, and also can request the exercise of
the right mortgage in advance.
6. Obligation
of the Mortgagee
After the borrower pays back all the debts under
the Main Contract, the Mortgagee should return the collateral
equity security or disposition of property rights, insurance policy
and so on to the Mortgagor within 15 days.
Within 30 days after this contract is signed,
the Mortgagor should attend the insurance company approved by the
Mortgagee to complete all the insurance formalities of
coll
