Exhibit 10.13


 


Contract No: (320382017)
Rural Commercial Bank Loan [2017]No.1108001


 


 


Working Capital Revolving Loan Contract


 


Borrower: Jiangsu
Baikang Biological Pharmaceutical Co., Ltd 


 


Lender: Jiangsu
Pizhou Rural Commercial Bank Co., Ltd


 


November 8, 2017


 






     


     


    

 


Working Capital Revolving Loan Contract


 


Contract No: (320382017)
Rural Commercial Bank Loan [2017]No.1108001


 


For the purpose set
forth in Section 2.1 of this contract, the borrower hereby applies to the lender for a loan. The lender has agreed to make the
loan to the borrower. The borrower and the lender hereby enter into this contract through friendly consultations according to the
Contract Law, the General Provisions for Loans and other applicable laws and regulations, setting forth respective rights and obligations.


 


Section 1 Type
of loan 


 


1.1 The loan hereunder
is a revolving working capital loan.


 


Section 2 Purpose
of loan 


 


2.1 The purpose of the
loan hereunder is for working capital needs for production and operation of the business, which will be specified in the Loan Voucher.


 


2.2 Without the prior
written consent of the lender, the borrower may not change the purpose of loan set forth herein.


 


Section 3 Amount
and term of loan 


 


3.1 The loan amount
hereunder is RMB (in words) three million nine hundred thousand Yuan (in figures)_RMB3900000_(The amount in words
shall prevail in case of any inconsistency between the amount in words and the amount in figures, the same below) .


 


3.2 The term of loan
is from the effective date of this contract to October 20, 2019. During the term, the borrower can use the revolving loan
within the above limit, but at no time shall have a loan balance over the above limit.


 


3.3 The term of each
actual drawdown is from the date of drawdown to the agreed repayment date, which is to be specified in the loan voucher. Repayment
of each drawdown shall not be late than the ending date of this revolving loan limit specified in subsection 3.2.


 






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Section 4 Loan
interest rate and interest accrual 


 


4.1 Interest
shall accrue on the loan hereunder on a daily basis from the actual drawdown date for the actual number of days of loan
utilization (daily interest rate =annual interest rate/360), with interest to be settled on a monthly 
(monthly/quarter)basis and on the 20th day of each month_ day (20th day of each
month/20th day of the last month of each quarter) or the immediately following banking day if the interest
settlement date is not a banking day. The interest accrued on the loan shall be fully repaid along with principal repayment
upon the maturity of the loan.


 


4.2 The loan interest
rate hereunder shall be determined in the following manner 4.2.3:


 


4.2.1 Fixed interest
rate with annual interest rate of __%, which will remain unchanged during the term of this contract.


 


4.2.2 The interest rate
hereunder is determined to be __% (above/below) the base interest rate of the corresponding class published by the People’s
Bank of China. The contractual interest rate shall be adjusted on a period-by-period basis, with ___(year/half a year/quarter/month)
as a period. The date for determination of interest rate of the first period shall be the effective date of this contract, and
the lender will determine the interest rate of the first period based on the base interest rate of the corresponding class published
by the People’s Bank of China on the effective date of the loan contract and the extent of fluctuation agreed upon by both
parties, i.e., the annual interest rate of ___%. The date for determination of interest rate of the second period and each subsequent
period shall be the date corresponding to the effective date hereof, and the lender will determine the interest rate of the current
period based on the base interest rate of the corresponding class published by the People’s Bank of China on the date corresponding
to the effective date of the loan contract and the extent of fluctuation agreed upon by both parties, provided that if the month
of adjustment has no day corresponding to the effective date hereof, the last day of such month shall be the corresponding day.


 


In case of drawdown
in installments, regardless of the number of withdrawals in a period, the current interest rate determined on the effective date
hereof or the corresponding date shall apply and shall be adjusted on the day of the next period corresponding to the effective
date hereof.


 


4.2.3 Others: subject
to the interest rate specified in the loan voucher


 


4.3 In case of
any change made by the People’s Bank of China to the interest rate or interest rate determination process, the
applicable rules of the People’s Bank of China shall govern.


 






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4.4 Penalty interest



 


4.4.1 If the borrower
fails to repay the loan principal and interest hereunder when due (including the amount declared due and repayable immediately),
interest shall be charged at the penalty interest rate on overdue loan on the overdue portion from the due date until repayment
of the principal and interest in full.


 


The penalty interest
rate on overdue loan shall be the loan interest rate set forth in this Section 4.2 plus 30%.


 


4.4.2 If the borrower
fails to use the loan for the purpose set forth herein, interest shall be charged at the penalty interest rate on misappropriated
loan on the overdue portion from the date of misappropriation until repayment of the principal and interest in full.


 


The penalty interest
rate on misappropriated loan shall be the loan interest rate set forth in this Section 4.2 plus 50%.


 


4.4.3 Interest shall
be charged at the penalty interest rate on misappropriated loan if the loan is both overdue and misappropriated.


 


4.4.4 Compound interest
shall be charged on the interest that the borrower fails to pay when due at the loan interest rate set forth in Section 4.2 during
the term of loan and using the interest settlement process set forth in Section 4.1, and thereafter at the penalty interest rate
set forth in this section instead when the loan becomes overdue.


 


4.4.5 For accrual of
penalty interest and compound interest, in case of any adjustment to the loan interest rate set forth herein, the penalty interest
and compound interest shall be calculated on a period-by-period basis as of date of adjustment.


 






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Section 5. Conditions
for drawdown 


 


5.1 The borrower shall
meet the following conditions in order to withdraw the loan proceeds:


 


5.1.1. This contract
and its annexes shall have taken effect.


 


5.1.2 The borrower shall
have provided the guarantee as required by the lender, the guarantee contract shall have taken effect and completed the statutory
approval, registration or filing formalities.


 


5.1.3 The borrower shall
have provided the lender with the borrower’s documents, instruments, specimen seal, personnel list and specimen signature
in connection with execution and performance of this contract and have completed the related vouchers;


 


5.1.4 The borrower shall
have opened accounts required for performance of this contract as required by the lender.


 


5.1.5 The borrower shall
have submitted a written drawdown application to the lender along with related certificate of purpose of loan and completed the
related drawdown formalities___7____banking days prior to drawdown.


 


5.1.6 The self-owned
funds as required by the lender shall have been made available in full.


 


	5.1.7 Other conditions
for drawdown as specified in laws and agreed upon by both parties:	 
	 
	 



 


5.2 If any of the aforesaid
conditions for drawdown is not met, the lender has the right to reject the drawdown application of the borrower, except that the
lender agrees to disburse the loan.


 


Section 6 Drawdown
time and process 


 


6.1 The borrower shall
have submitted a written drawdown application to the lender and completed the loan voucher 7  banking days prior to drawdown.


 


6.2 Once a drawdown
application is submitted to the lender, the borrower cannot withdraw the application without a written consent from the lender.


 


6.3 Account into which
the funds withdrawn by the borrower shall be deposited (single choice)


 


þ
Settlement account opened by the borrower, account name: Jiangsu Baikang Biological Pharmaceutical Co., Ltd, account
No: XXXXXXXX. 


 


 ̈
Dedicated loan disbursement account, account name_____________________, account
No: ______________________________________________________________________________________________.


 


6.4 During the
loan release, if any of the following events occurs with respect to the borrower, the lender shall consult with the borrower
to make additional conditions for loan disbursement in writing as integral part of this contract or cease to release the loan
proceeds:


 


6.4.1 Decreased credit
standing;


 


6.4.2 Failure to pay
the loan proceeds according to the provisions of the contract.


 


6.4.3 Insufficient profitability
of primary line of business;


 


6.4.4 Abnormal use of
loan proceeds;


 


6.4.5 Attempt to circumvent
authorized disbursement by the lender by means of breaking down the loan into parts in violation of the provisions hereof.


 






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Section 7 Disbursement
of loan proceeds 


 


7.1 Any single loan
exceeding RMB three million shall be disbursed by the lender upon request. Method for disbursement of other loan proceeds
to be adopted (single choice)


 


þ Disbursement
by the lender upon request: the lender will disburse the loan via the borrower’s account to the counterparty of the
borrower that meets the purpose set forth herein after satisfactory review according to the drawdown application and payment
request of the borrower. Where Section 6.3 hereof provides that the withdrawn amount shall be deposited into the dedicated
loan disbursement account, the disbursement upon request shall be handled through this account. 


 


 ̈
Disbursement by the borrower: After the lender disburses the loan proceeds into the borrower’s account according to the
borrower’s drawdown application, the borrower will disburse the same to its counterparty that meets the purpose set
forth herein at its sole discretion. Where Section 6.3 hereof provides that the withdrawn amount shall be deposited into the
dedicated loan disbursement account, the autonomous disbursement shall be handled through this account.


 


7.2 Where
the disbursement is to be made by the lender upon request, the borrower shall submit the related transaction documents to
the lender _____banking days prior to the date of request for disbursement; Where the disbursement is to be made by
the borrower itself, the borrower shall summarize and report on the disbursement of loan proceeds in writing within ___ days
of the end of each  ̈ quarter/ ̈
month.


 


7.3 During the
loan disbursement, if any of the following events occurs with respect to the borrower, the lender shall consult with the
borrower to make additional conditions for drawdown in writing as integral part of this contract or cease to disburse the
loan proceeds:


 


7.3.1 Decreased credit
standing;


 


7.3.2 Failure to pay
the loan proceeds according to the provisions of the contract.


 


7.3.3 Insufficient profitability
of primary line of business;


 


7.3.4 Abnormal use of
loan proceeds;


 


7.3.5 Attempt to circumvent
authorized disbursement by the lender by means of breaking down the loan into parts in violation of the provisions hereof.


 


Section 8 Repayment



 


8.1 The borrower shall
repay the principal and interest hereunder from, but not limited to the fund of :


 


A. Operational revenue
of the borrower;


 


B. Repayment by the
guarantors, and disposal of the borrower’s assets.


 


8.2 The borrower shall
repay the loan at the maturity date and of the amount as specified on the loan voucher. If the maturity date is not a banking day,
the repayment is extended to the next banking day.


 


If the borrower needs
to revise the repayment schedule, the written application shall be submitted to the lender at least 15 banking days prior
to the maturity date of the loan. The change of repayment schedule is subject to written consent of both the borrower and the lender.


 


8.3 Except as otherwise
agreed upon by both parties, if the borrower becomes delinquent in both loan principal and interest, the lender has the right to
determine the sequence of principal repayment or interest payment; in case of installment repayment, if there exist multiple due
loans or overdue loans hereunder, the lender has the right to determine the sequence of settlement of a certain repayment by the
borrower; where there exist multiple matured loan contracts between the borrower and the lender, the lender has the right to determine
the sequence of contracts to be performed by the borrower for each repayment.


 


8.4. Except as
otherwise agreed upon by both parties, the borrower may make prepayment by giving a written notice to the lender __15____banking
days in advance. If there exist multiple loans, the lender has the right to determine the sequence of repayment for the
amount to be prepaid.


 






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The lender has the right
to charge compensation at a rate of _______ with respect to the prepaid portion.


 


8.5 The borrower shall
make repayment in the following manner _______.


 


8.5.1 The borrower shall
deposit sufficient funds into the following repayment account for repayment 1 banking day prior to the maturity of each
tranche of principal and interest, from which the lender has the right to deduct the amount at its sole discretion at the maturity
date of each tranche of principal and interest.


 


Account name: Jiangsu
Baikang Biological Pharmaceutical Co., Ltd


 


Account No: 3203821701201000033587



 


8.5.2 Other repayment
processes agreed upon by both parties:_________________.


 


Section 9 Guarantee



 


9.1 The form of guarantee
for the debts hereunder is (single choice):


 


 ̈
This contract is the principal contract under the _________contract executed by and between the guarantor _____________ and
the lender (contract No._________).


 


þ This
contract is the principal contract under the the highest amount security contract executed by and between the guarantor
Jiangsu Baikang Biological Pharmaceutical Co., Ltd and the lender (contract No. (32038201) Rural Commercial Bank Mortgage
[2017]No.1108001); in addition, Li Jinguo, Tang Fangshi, Yan Zongping and Cui Dehua will provide joint liability
guarantee and execute the corresponding guarantee contract. Wherein: the amount of debt corresponding to such _________guarantee
contract is outside the scope of the principal debt under the aforesaid maximum-amount guarantee contract, while the remaining
debt amount is within the scope of its principal debt. 


 


 ̈
(Other forms of guarantee)________________________.


 


9.2 If the
borrower or the guarantor incurs any event that the lender deems likely to affect adversely its ability to perform the
contract, or the guarantee contract becomes invalid, is revoked or terminated, or the borrower or the guarantor suffers
deteriorating financial condition or becomes involved in any significant legal action or arbitration or otherwise encounters
any other event that might adversely effect its ability to perform the contract, or the guarantor defaults under the
guarantee contract or any other contract between it and the lender, or the collateral depreciates, is destroyed, lost or
judicially attached, resulting in impairment or loss of the guaranteed value, the lender has the right to require the
borrower, and the borrower has the obligation to provide a new guarantee or replace the guarantor or otherwise in order to
guarantee the debts hereunder.


 






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Section 10 Insurance
(this is a selective term, under which the choice is ___: 1. applicable; 2. not applicable)


 


10.1 The borrower shall
procure insurance for the real estate, equipment and risks during construction, cargo transport and business operations in connection
with the trade hereunder from an insurance company acceptable to the lender against such risks as required by the lender and in
an amount of no less than the loan principal.


 


10.2 The borrower shall
deliver the original of the insurance policy to the lender within ___ days of the effective date of this contract. The lender may
not interrupt the insurance coverage for any reasons prior to the full repayment of the loan principal, interest and fees hereunder,
otherwise the lender has to the right to renew or procure the insurance coverage on behalf of the borrower at the sole costs of
the borrower. The borrower shall be liable for any and all losses incurred to the lender due to interruption of insurance coverage.


 


10.3 The borrower shall
notify the lender in writing of any insured accident within 3 days of the date when it knows or should know the occurrence of such
accident and promptly claim against the insurer according to the applicable provisions of the insurance policy; the borrower shall
be liable for the losses incurred to the lender due to its failure to notify in time or promptly make claims or perform its obligations
under the insurance policy.


 


10.4 Except as otherwise
agreed upon herein, the insurance indemnities shall be first applied towards repayment of the loan principal and interest and other
fees payable hereunder.


 


Section 11 Representations
and warranties 


 


11.1 The borrower hereby
represents as follows:


 


11.1.1 It is duly incorporated
and validly existing according to law and has the full authority, right and power to execute and perform this contract;


 


11.1.2 Execution and
performance of this contract is the expression of its true intention and it has obtained lawful and valid authorizations according
to its charter or other internal management documents and the execution and performance of this contract will not violate any agreement,
contract and other legal instruments binding upon it; it has acquired or will acquire any and all related approvals, permits, filings
or registrations required for execution and performance of this contract


 


11.1.3 Any and all documents,
financial statements, vouchers and other data provided by it to the lender hereunder are true, complete, accurate and valid;


 


11.1.4 The related trading
background the borrower states in its loan application is true and legal, and the loan is not to be used for any money laundry
or other illegal purpose.


 


11.1.5 It has not hidden
from the lender any event that might adversely affect its or guarantor’s financial condition and performance capabilities.


 


11.1.6 Other representations
of the borrower:______________________.


 


11.2 The borrower hereby
warrants as follows:


 


11.2.1 It will submit
its financial statements (including but not limited to annual, quarterly and monthly statements) and other true, complete and valid
materials to the lender on a regular basis and in a timely manner as required by the lender;


 


11.1.2 If the borrower
has or will execute any counter-guarantee agreement or similar agreement with the guarantor of this contract with respect to its
guarantee obligations, such agreement will not impair any of the lender’s rights hereunder;


 


11.2.3 It will subject
itself to the loan disbursement management, post-loan management and related inspections by the lender.


 


11.2.4 If any
event occurs that might adversely affect the financial conditions and performance capabilities of the borrower or the
guarantor, including but not limited to any form of spinoff, consolidation, joint operation, joint venture with foreign
investor, cooperation, contract operation, reorganization, restructuring, IPO plan or any other change of business practices,
reduced registered capital, transfer of significant assets or equities, assumption of significant liabilities, substantial
increase in debt financing or imposition of new and significant liabilities on collaterals, attachment of collaterals,
dissolution, revocation, bankruptcy petition by or against it or involvement in any significant lawsuit or arbitration case
or operational difficulties or deterioration of financial condition or any default event of the borrower under any other
contract, the borrower shall promptly notify the lender and obtain the prior consent of the lender.


 






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11.2.5 The debts of
the borrower to the lender shall be settled in priority to the borrowings of the borrower from its shareholders and in a manner
no less favorable than the similar debts that the borrower has to its other creditors;


 


11.2.6 Where the after-tax
net profits in any related accounting year are zero or negative or otherwise insufficient to cover the accumulated losses from
the previous accounting years, or the pre-tax profits are not applied towards repayment of the principal, interest and fees repayable
by the borrower within such accounting year or are insufficient to repay the next tranche of principal, interest and fees, the
borrower may not distribute any dividends or bonus to its shareholders in any manner or form.


 


11.2.7 The borrower
may not dispose of its assets in any manner that reduces its debt service capabilities. The borrower undertakes that the total
amount of its external guarantees will not be more than ____times its net assets and the total amount of external guarantees and
the amount of individual guarantee will not exceed the limit specified in its articles of association.


 


11.2.8 The borrower
agrees that the following account (account name: Jiangsu Baikang Biological Pharmaceutical Co., Ltd account No: 3203821701201000033587
will be its collection account and it will provide the lender with the information on receipt and expenditure of funds into
and from the account in a timely manner. It further agrees that the lender may consult and execute an account management agreement
with the borrower based on the credit standing and financing performance of the borrower, setting forth the management of the receipt
and expenditure of funds into and from the designated account.


 


11.2.9 It will
accept the monitoring of the aforesaid settlement account, the dedicated loan disbursement account and the collection account
by the lender and provide sufficient assistance and cooperation.


 


11.2.10 Other warranties
of the borrower:_____________________________


 


Section 12 Disclosure
of related-party transactions inside the group to which the borrower belongs (this is a selective term, the choice is ____:
1. applicable; 2. not applicable).


 


12.1 The borrower is
a group customer as determined by the lender according to the Guidelines to Commercial Banks on Business Risk Management Concerning
Credit Extension to Group Customers. The borrower shall promptly report to the lender on any related-party transaction involving
more than 10% of its net assets, including the relations between counterparties, item and nature of transaction, amount of transaction
or corresponding percentage and pricing policy (including transactions without amount or with nominal amount only).


 


12.2 The lender has
the right to cease to disburse to the borrower any unused loan proceeds at its sole discretion and recover the loan principal and
interest in part or in full in advance if the borrower seeks discounting or pledge with the bank with any creditor’s right
without actual trade background such as notes receivable and accounts receivable by using any falsified contract with related party,
with a view to defaulting the bank of funds or credit extension; conducts any significant merger, acquisition or reorganization
or otherwise that the lender believes might adversely affect the security of loan; intentionally evades bank’s creditor’s
right through related-party transaction; or otherwise falls into any category specified in Article 18 of the Guidelines to Commercial
Banks on Business Risk Management Concerning Credit Extension to Group Customers.


 


Section 13 Default
event and treatment 


 


13.1 Any of the following
events shall constitute or be deemed a default event of the borrower hereunder:


 


13.1.1 The borrower
fails to perform its payment and settlement obligations to the lender pursuant to the provisions hereof;


 


13.1.2 The borrower
fails to use the loan proceeds acquired by it for the purpose set forth herein pursuant to the provisions hereof;


 






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13.1.3 Any representation
made by the borrower herein proves untrue or the borrower violates any of its warranties made herein.


 


13.1.4 Any event set
forth in Section 11.2.4 hereof occurs, which the lender believes might adversely affect the financial condition or performance
capabilities of the borrower or the guarantor, while the borrower fails to provide a new guarantee or replace the guarantor pursuant
to the provisions hereof;


 


13.1.5 The borrower
violates any other provisions of this contract regarding the rights and obligations of parties;


 


13.1.6 The borrower
incurs any default event under any other contract between it and the lender;


 


13.1.7 The guarantor
violates any provisions of the guarantee contract or incurs any default event under any other contract between it and the lender
or another organization of the lender;


 


13.1.8 The borrower
ceases to conduct business or is dissolved, deregistered or becomes bankrupt;


 


13.1.9 Any of agreed
financial indicators is exceeded;


 


13.1.10 Any event of
significant cross default occurs;


 


13.1.11 Failure to pay
the loan proceeds in such manner as specified herein;


 


13.1.12 Any information
contained in the loan application proves untrue.


 


13.2 In case of any
default event specified in Section 13.1 hereof, the lender has the right to take one or several or all of the following measures
depending upon the specific circumstances:


 


13.2.1 Require the borrower
and the guarantor to cure their default within a specified period;


 


13.2.2 Reduce, suspend
or terminate the credit limit to the borrower in full or in part;


 


13.2.3 Suspend or cease
to accept any service request of the borrower hereunder or under any other contract between the borrower and the lender in part
or in full, including but not limited to drawdown application; suspend or cease to issue and deal with the undisbursed loan or
outstanding trade financing in part or in full.


 


13.2.4 Declare
the outstanding principal and interest of the loan/trade financing and other payables hereunder or under any other contract
between the borrower and the lender immediately due and payable in part or in full;


 


13.2.5 Terminate or
rescind this contract and terminate or rescind any other contract between the borrower and the lender in part or in full;


 


13.2.6 Require the borrower
to compensate for the losses incurred to the lender due to its default;


 


13.2.7 Subject only
to prior or ex-post notice, deduct the amount in the account opened by the borrower with another organization of the lender in
order to satisfy the debts of the borrower to the lender hereunder in part or in full. The undue amounts in such account shall
be deemed immediately due and payable.


 


13.2.8 Exercise the
security interest;


 


13.2.9 Require the guarantor
to assume warranty liabilities;


 


13.2.10 Such other measures
as the lender deems necessary and possible.


 






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Section 14 Reservation
of rights 


 


14.1 Failure of either
party to exercise any or all of its rights hereunder or to require the other party to perform and assume any or all of its obligations
and liabilities shall not constitute waiver of such right or exemption o such obligations or liabilities.


 


14.2 Any indulgence,
grace or delayed exercise of any rights hereunder granted by either party to the other party shall not affect any of its rights
that it enjoys hereunder and according to laws and regulations, nor shall the same be deemed wavier of such right.


 


Section 15 Modification,
amendment and termination 


 


15.1 This contract may
be modified or amended in writing with the mutual consent of both parties, and any such modification or amendment hereto shall
constitute integral part of this contract.


 


15.2 Except as otherwise
specified herein or agreed upon by parties hereto, this contract may not terminate prior to full performance of any and all respective
rights and obligations hereunder.


 


15.3 Except as otherwise
specified herein or agreed upon by parties hereto, the invalidity of any term of this contract shall not affect the legal effect
of any other term hereof.


 


Section 16. Governing
law and dispute resolution 


 


16.1 This contract shall
be governed by and construed according to the laws of the People’s Republic of China.


 


16.2 Upon execution
of this contract, any and all disputes arising out of execution and performance of this contract or in connection with this contract
may be resolved by both parties through consultations, failing which either party may resolve the dispute in the following manner
16.2.3:


 


16.2.1 Submit to _____________Arbitration
Commission for arbitration.


 


16.2.2. Sue to the people’s
court having competent jurisdiction over the lender or another organization of the lender exercising rights and performing obligations
hereunder and under individual agreements.


 


16.2.3 Sue to the people’s
court having competent jurisdiction according to law.


 


16.3 During the dispute
resolution, if such dispute does not affect the performance of other terms of this contract, such other terms hereof shall continue
in full force and effect.


 


Section 17 Costs
and expenses 


 


17.1 Except as otherwise
specified in laws or agreed upon by both parties, the costs and expenses incurred as a result of execution, performance and dispute
resolution of this contract (including but not limited to attorney’s fee) shall be borne by the borrower.


 


Section 18 Annexes



 


18.1 The following annexes
and other annexes confirmed by both parties shall constitute integral part of this contract and bear the same legal effect as this
contract.


 


18.1.1 Drawdown application;


 


18.1.2 Payment order;


 


	 18.1.3Other annexes	 
	 
	 
	 






 






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Section 19 Miscellaneous



 


19.1 The borrower shall
not transfer or assign any of its rights or obligations hereunder to any third party without the prior written consent of the lender.


 


19.2 If the lender needs
to engage another organization of the lender to perform its rights and obligations hereunder due to operational needs or allocate
the loan business hereunder to another organization of the lender for takeover and management, the borrower hereby accepts such
arrangement. Such other organization of the lender authorized by the lender or such other organization of the lender undertaking
the loan business hereunder has the right to exercise any and all of the lender’s rights hereunder and sue to the court,
submit to the arbitral authority for arbitration or apply for specific performance in the name of such organization with respect
to any dispute hereunder.


 


19.3 Without prejudice
to any other provisions hereof, this contract shall inure to the benefits of and bind upon both parties and respective successors
and assigns arising according to law.


 


19.4 Except as otherwise
specified herein, both parties designate respective addresses indicated herein as respective addresses for notice and contact and
undertake to notify the other party in writing promptly of any change to such address, otherwise any communication sent shall be
deemed duly served within a certain reasonable period.


 


19.5 The transaction
contemplated hereunder shall be conducted based on respective independent interests. If other parties to the transaction constitute
affiliates or associates of the lender according to the applicable laws, regulations and regulatory requirements, all parties shall
not seek to utilize such affiliated relationship to influence the fairness of transaction.


 


19.6 The section headings
and business designations contained herein are for ease of reference only and shall be ignored in the interpretation of terms and
rights and obligations of parties hereto.


 


Section 20 Execution



 


20.1 This contract shall
take effect upon being signed and sealed by the legal representatives (CEO) of both parties or their authorized signatories with
respective corporate seals.


 


20.2 This contract is
made in two copies, one copy for each party and each copy bearing the same legal effect.


 


Section 21 Special
statement 


 






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21.1 The lender
has reminded the borrower to fully and accurately understand all printed terms of this contract, and made explanations as required
by the borrower upon the request of the borrower. Both parties hereto have the same understanding of the meanings of all terms
of this contract. 


 





	Borrower	Lender
	 	 
	Borrower:	(corporate seal)	Lender: 	(corporate seal)
	 	 
	Legal
    representative (CEO): Li Jinguo	Jiangsu
    Pizhou Rural Commercial Bank Co., Ltd
	 	Contract stamp of Loan business(seal)
	 	 
	 	CEO: 	(signature/seal)
	 	 	 
	 	Zhang Jun
	 	 
	(signature/seal)	Handler:	(signature/seal)
	ID No:	
         

         

	Postal address:
	Tel:
	Fax:




 


	Date of signing: November 8, 2017	Place of signing: Tiefu Branch, Pizhou Rural Commercial Bank







 






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