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Lease Contract Between Harbin Xinda Macromolecule Material Co., Ltd. And Harbin Xinda High-tech Co., Ltd

Lease Agreement

Lease Contract Between Harbin Xinda Macromolecule Material Co., Ltd. And Harbin Xinda High-tech Co., Ltd | Document Parties: CHINA XD PLASTICS CO LTD | Harbin Xinda High-tech Co, Ltd | Harbin Xinda Macromolecule Material Co, Ltd You are currently viewing:
This Lease Agreement involves

CHINA XD PLASTICS CO LTD | Harbin Xinda High-tech Co, Ltd | Harbin Xinda Macromolecule Material Co, Ltd

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Title: Lease Contract Between Harbin Xinda Macromolecule Material Co., Ltd. And Harbin Xinda High-tech Co., Ltd
Date: 5/1/2009

Lease Contract Between Harbin Xinda Macromolecule Material Co., Ltd. And Harbin Xinda High-tech Co., Ltd, Parties: china xd plastics co ltd , harbin xinda high-tech co  ltd , harbin xinda macromolecule material co  ltd
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Exhibit 10.1






20090501

Lease Contract

Between

Harbin Xinda Macromolecule Material Co., Ltd.

And

Harbin Xinda High-tech Co., Ltd.




May 1 st, 2009









Contents

Article 1

 

 

Property Location, Area and Facilities

 

 

 

1

 

Article 2

 

 

Usages

 

 

 

1

 

Article 3

 

 

Lease Term

 

 

 

2

 

Article 4

 

 

Property Rent and Payment

 

 

 

2

 

Article 5

 

 

Other Expenses

 

 

 

2

 

Article 6

 

 

Repairs Responsibility

 

 

 

3

 

Article7

 

 

Representations, Warranties and Undertakings of Party A

 

 

 

4

 

Article 8

 

 

Representations, Warranties of Party B

 

 

 

5

 

Article 9

 

 

Serious Breach of Party B

 

 

 

5

 

Article 10

 

 

Serious Breach of Party A

 

 

 

6

 

Article 11

 

 

Indemnities

 

 

 

6

 

Article 12

 

 

Notice

 

 

 

6

 

Article 13

 

 

Termination

 

 

 

7

 

Article 14

 

 

Governing Law and Dispute Resolution

 

 

 

8

 

Article 15

 

 

Force Majeure

 

 

 

9

 

Article 16

 

 

Miscellaneous

 

 

 

10

 

Appendix A

 

 

Property Descriptions

 

 

 

13

 

Appendix B

 

 

The Copies of Property Ownership Certificate

 

 

 

14

 






        The Lease Contract (this “Contract”) is entered into as of May1 st , 2009 by the following parties:

(1)     Harbin Xinda Macromolecule Material Co., Ltd.(hereinafter called “Xinda Macromolecule” or “Party B¡°), a business entity incorporated under the laws of the People’s Republic of China(“China”), was registered in No.9, QinLing Road, Yingbin Road Centralized Industrial Park, Harbin Development Zone, Heilongjiang Province, China; and

(2)     Harbin Xinda High-tech Co., Ltd.(hereinafter called “Xinda High-tech” or “Party A), a business entity incorporated under the laws of the People’s Republic of China(“China”), was registered in No.9, Dalian North Road, Haping Road Centralized Industrial Park , Harbin Development Zone, Heilongjiang Province, China

        Xinda High-tech and Xinda Macromolecule here are called “party” respectively and, collectively the “parties” in the Contract.

Article 1 Property Location, Area and Facilities

1.1     The parties agree to: Party A will lease to Party B the premises (hereinafter called “The Premises”), which is located at No.9, Dalian North Road, Haping Road Centralized Industrial Park, Harbin Development Zone, Heilongjiang Province, China, with an area of 23893.53 square meters.

1.2     The current status of property and the attached welfare facilities, equipment and facilities (hereinafter called “attached facilities”), as shown in the annex to the contract A. Annex A should be referred to as Party A Party B to the property and the return of Party A Party B to the property on the basis of the acceptance.

Article 2 Usages

2.1     Party A has shown the related property certificates to Party B for proving that Party A has legal rights to release the premises prior to signing this contract. The serial numbers of the property ownership certificates are as following: Harbin Property Right Certificate Kaiguozi NO.00107917 Harbin Property Right Certificate Kaiguozi NO.200702187 ;Harbin Property Right Certificate Kaiguozi NO.00107916 Harbin Property Right Certificate Kaiguozi NO.00107915 Harbin Property Right Certificate Kaiguozi NO.00107914 and Harbin Property Right Certificate Kaiguozi NO.00107913, where shows that the usages are: industrial plants office buildings and other accessory occupancy. See Appendix B The Copies of Property Ownership Certificate on this contract for further information.

1


2.2     Party B undertakes that property will be used only for business purposes.

2.3     Party B must not change the property usages in the lease period.

Article 3 Lease Term

3.1     The lease term shall last for 3 years from May 1 st , 2009 to April 30 th , 2012 (hereinafter called ” term”).

3.2     On (a) the expiration date or (b)the earlier date before the termination of this contract, Party A shall have the right to recover the property; and Party B should return the premises to Party A on the expiration of the term or 90 days after the termination of this contract (as the case may be).

Article 4 Property Rental and Payment

4.1     Party B shall pay 2,000,000 RMB (2,000,000 RMB of property rental) per year to Party A as property rental.

4.2     (a) Party B should pay available funds to Party A immediately prior to the fifteenth business day of December every year as the property rental.

           (b) In case the contract is terminated before the term expires, Party B shall pay Party A the total amount of property rental in the final year times the exact usage days of the final year divided by 365.

2


Article 5 Other Expenses

5.1     Party B should pay all the other expenses (“expenses”) as a result of usages of property. These expenses include, but not limited to, water, electricity, gas, telephone fee and Internet services fee.

5.2     The expenses of property should be based on the utility meter calculation; or, if applicable, or by a pro-rata basis of the total area of the premises and buildings or related field; or in accordance with the relevant service providers to reach the individual billing arrangements (if applicable).

5.3     Party B should pay all expenses to the related charger in a timely fashion and then repay any expenses for Party A.

Article 6 Repairs and Maintenance Responsibility

6.1     Party A shall be responsible for keeping the safety and the good conditions of the property structure during the term and other repairs and cleaning should be charged by Party B.

6.2     Part B shall take good care of and properly use the premises and attached facilities, except for (a) normal wear and tear, (b) Party A’s acts or omissions cause or result in the damages as well as (c) any force majeure event causes damages, Party B should be responsible for maintenance or compensation of any damage of the premises and attached facilities.

6.3     Expect for (a) the existing renovations and facilities, (b) Party B required for business operation or as all the necessary refurbishment and modification, Party B shall not modify the renovations or refit the attached facilities without the written agreement of Party A (but this kind of consent should not be refuse unreasonably). If Party B would like to modify the renovations or refit the attached facilities, Party B should submit a written application, as well as a detailed plan or design drawings for approval to Party A. Party A shall review such applications and other documents within a reasonable time and put forward the instructions and advices for the plans designs or drawings. Party B should engage in the renovations or modifications as the approved applications other documents and instructions of Party A within the agreed period at their own expenses. Notwithstanding the foregoing, Party B should be in charge of the result arising from the acts of repairs and renovations.

3


6.4     Unless other promises exist, any notice related to the property repairs should be submitted to the other party before repairs commence within at least 72 hours.

6.5     As the force majeure event causing any damage of the property, additional sites or other places (as the case may be), any of the parties will not have responsibility for the other party. For the avoidance of doubt, the force majeure event should not include any event caused by any party, their employees, agents or the mishandling of the customers.

Article 7 Representations, Warranties and Undertakings by Party A

The Party A acknowledges that, the Party B shall sign this contract based on the truth of following representations and warranties. The Party A’s representations, warranties and undertakings to Party B are as follows:

The Party A has all rights and authorization of signing, conducting and delivering of this contract and carrying out the proposed transactions in this contract, and the Party A is incorporated or formed formally in accordance to applicable local laws.

After singed and delivered this contract, the Party A must fulfill all proposed transactions in this contract, and takes all necessary corporate or other actions to get the formal approval and authorization.

If the Party B authorizes, signs and delivers this contract formally, it constitutes legal, effective and binding obligations to Party A and can be conducted forcibly according to the rules of this contract unless this clauses are limited by the laws of bankruptcy, insolvency, restructuring, deferred payment and similar laws that affect the right of creditor;

The property should be rented to the Party B within the whole term and throughout the period of time, Party A should not affect the property rights including all mortgages, liens, leases, security inte


 
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