Exhibit 10.36
Land Lease of
The Science Park Administration (1
Year)
Parties to this lease:
Landlord:
Science Park Administration
(hereinafter referred to as Party A)
Tenant:
Optronics International Corp.
(hereinafter referred to as Party B) A0327
Whereas Party B falls into the
category of science park enterprises, research institutes, venture
incubator centres, branch offices of the administration authorities
or commercial or industrial service firms approved by Party A
consistent with Article 4 or Article 8 under the
Regulation Regarding the Establishment of the Science Park, and
Party A and Party B hereby have agreed that Party A will lease land
illustrated under Article 1 of this agreement that are located
in the Hsin Chu Science Park (hereinafter referred to as the land
under this Agreement) for Party B’s use according to the
following terms and conditions:
Article 1
Indication & Rent under the
Agreement
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Land Illustration
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City
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Town
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Location
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Land
No
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Area
(sqm)
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Rent Per Unit
NT$ (by
sqm/month)
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Due Rent
Per month
(NT$)
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Remark
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Hsin Chu
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Section of Science Park
Administration
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117 inside
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363
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52.92
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19,210
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Only for the Use of Nearby
Facilities of Product Process
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Total
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363
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52.92
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19,210
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Article 2
This lease term shall run from
January 1, 2009 till December 31, 2009.
Upon the expiry date, this lease
shall be terminated automatically unless Party A and Party B
conclude another lease. Party B is not allowed to ask for the
continuation of the lease or lease from time to time under any
circumstances.
Article 3
The land under the agreement is
solely used for nearby facilities of product process.
Article 4
Party B shall remain as a science
park enterprise, a research institute, a venture incubator centre,
a branch office of the administration authorities or a commercial
or industrial service firms approved by Party A consistent with
Article 4 or Article 8 under the Regulation Regarding
the Establishment of the Science Park. Where Party B fails to
meet the above mentioned eligibilities at the time of the signing
of the lease, this lease shall be void and null. Where Party B no
longer maintains such eligibilities hereafter and both Parties to
this agreement agree to the immediate termination of this lease,
Party A is not required to notify such termination of such legal
forces.
Article 5
Except otherwise stated in
Article 18, Party B shall not either transfer or sublease part
or all of leased land hereof to others, or change the use or
provide the use in violation of regulations.
1
Article 6
As of the day when the lease term
begins, Party B shall pay a monthly rental amount equal to that set
out in the first [illegible] above of the lease, and shall pay rent
to Party A in rent payment procedures determined by Party A. Sales
taxes shall be paid separately.
Party B, with the consent of Party
A, uses land prior to the lease execution. In this case, Party
B’s rent shall be calculated from the day when Party B put
the land into use.
Article 7
Party A shall adjust land rent
hereof at any time in conformity of provisions of relevant laws and
regulations.
For the declared prices of the land
hereof, the state land rent rate approved by the ROC Executive Yuan
and other reasons, the land rent hereof shall be adjusted
automatically in proportion starting from the next month when
modification is fixed. Paid rents still require additional payment
or refunding during the period.
Article 8
Party B shall pay punitive damages
according to the following provisions if it fails to pay its rent
and utility bills on time:
1.
It shall pay damages equal to 2% of
the total amount due if its rent and utility bills are less than 1
month overdue;
2.
It shall pay damage equal to 5% of
the total amount due if its rent and utility bills are more than 1
month but less than 2 months overdue;
3.
It shall pay damages equal to 10% of
the total amount due if its rent and utility bills are more than 2
months but less than 3 months overdue;
4.
It shall pay damages equal to 15% of
the total amount due if its rent and utility bills are more than 3
month overdue.
Article 9
Before the construction of
buildings, Party B, on the basis of business nature and applied
chemical raw materials, shall take necessary measures against the
bad effects that occur (e.g., stingy smell, noise, radiation,
contamination, glares, and strong vibration, etc), and shall submit
to Party A detected pollution data of leased land soil, underground
water. This rule shall also apply when Party B closes or
suspends its business operations. Party B shall be held accountable
for keeping the environment clean in the premises hereof, subject
to Waste Disposal Act , Air Pollution Control
Law , Water Pollution Control law , the Soil
and Groundwater Pollution Remediation Act , and other
regulations and rules concerning pollution
prevention.
Article 10
Party B shall present an application
form to Party A in case it wishes to draw underground water. Party
A shall check and pass it to Water Conservation authorities subject
to the Water Conservation Act.
Article 11
Party B shall complete construction
at once only, based on the project plan proposed when it applies to
Party A for land allocation. However, this rule may not apply
if there are legitimate reasons which are also acknowledged by
Party A in advance.
Where Party A has recognized the
construction plan, and Party B finishes the building construction
stage by phases, the first-phase construction lot shall be located
by Party A.
Article 12
Party B shall apply for construction
licence within three (3) months after the date of execution,
subject to the Construction Law or relevant laws and based
on the project plan proposed at the time of application for land
allocation. It shall complete construction as scheduled in the
project plan proposed. Where Party B fail
