Exhibit 10.12
2004 4 73
XZ Permanent
XITA TOWN OF
SHENYANG
The Agreement of
Development
Party A: The People’s
Government of Heping District, Shenyang, China (hereinafter
referred to as Party A)
Party B: Shenyang Maryland
International Industrial Co., Ltd (hereinafter referred to as Party
B)
The two parties have entered into
following agreement on the development project of Xita Town of
Shenyang in the area of Xita in Heping District,
Shenyang:
I. The Outline of the
Project
According to the “Planning and
Reformation Project of Xita Area” provided by Party A, the
involved land serial number and the four sides of land
are:
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No.
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Land No.
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Four sides of land
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1
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4, 7, 8, 9, 11,
12, 13, 14
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East to Yanbian
Street; West to the east wall of east side residence in Xita
Street; South to Orient Home; North to Huichun Road
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2
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18,
20
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East to Nanjing
North Street; West to Yanbian Street; South to Shifu Road, North to
Dandong Road
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3
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21,
22
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East to Nanjing
North Street; West to the east wall of the six-story residence
building in Lane 33, Fushun Road; South to Dandong East Road; North
to Fushun Road
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4
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No
number
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Fangdi Building
in East side of Xita Street; 9-story Building in North
side
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The total occupying area is about
100,000 square meters, and the planning construction area is about
480,000 square meters. The commercial street, star hotels, business
and commercial
buildings, and commodity residence area will be
built, and the floor-area-ratio will not be lower than 4.5, which
is called the development works of “Xita Town”
(hereinafter referred to as the project)
II. The Term of the Project and
the Investment Amount
The project will begin to operate in
May, 2004, and completes before the end of the year 2007, with the
estimated total investment two billion RMB Yuan.
III. The Responsibility of Party
A
1. Agree that Party B undertake the
whole development of the project and attract investment.
2. Provide the required
lan
