Document:

Authorization
      Agreement

    

    To
      :
      International Bank of Taipei,    
      Center /
      Branch

    

    In
      order
      to get credit and loan information of the Contractor and other requirements
      for
      operations that are appropriate to registered business items, the authorized
      person and the guarantor Pai
      Suang-Yi (hereinafter
      referred to as “Contractor”) agrees that the Bank may, within the specific
      purposes and requirements under registered business items or other business
      needs, provide the information of the Contractor, such as profile, financial
      status, current accounts and remittance logs, credit card records, credit
      transactions, credit reference reports, loan related data, and personal credit
      data in relation to this Agreement, etc., for the Bank units, the same trade,
      Joint Credit Information Center, Small and Medium Business Credit Guarantee
      Fund, The Overseas Chinese Credit Guarantee Fund, Agricultural Credit Guarantee
      Fund, Financial Information Service Co., Ltd., the Taiwan Clearing House, Taiwan
      Securities Central Depository Co., Ltd., National Credit Card Center of R.O.C.,
      those persons, organizations, or institutes who are in relation to creditor’s
      right/debt liabilities (planning to loan assignment or participation) of the
      Bank, entrust the Bank to handle banking business, designated by the Ministry
      of
      Finance, or have agreements signed with the Bank under the necessity of doing
      business and may collect, process, transfer, and make use of the aforementioned
      data of the borrower and the Contractor and said persons, organizations, or
      institutes shall provide the data of the borrower and the Contractor to the
      Bank
      for reference.

     

    
      	The Authorized Person:	(Seal)

    Kid
      Castle Internet Technology Corporation

    1F,
      148,
      Jiang-guo Road, Hsindian City

     

    
      	The Guarantor: Pai Suang-Yi / Yang
              Ming-Tan	(Seal)

    

    
      	
              Supervisor

            	
              Signature
                Checker

            
	 	 

    

    

    Date
      :
      Mar. 16, 2006

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    

      Authorization
        Letter

      

      To
        :
        International Bank of Taipei

      

      The
        authorized person Kid
        Castle Internet Technology Corporation
        (hereinafter referred to as the “Authorized Person”) authorizes the Bank to
        withdraw or transfer money from the current
        account
        of the
        Authorized Person opened at the Yung-ho
        Branch
        of the Bank with A/C No. 14359-0
        for
        each
        amount payable related to respective loans, deferred interests, penalties,
        charges in relation to insurance on guarantees, handling fees of transferring
        credit insurance guarantee fund, opening/amending letters of credit, collection
        and other handling fees owing to relevant loans, the application of opening
        letters of credit or foreign exchange business the Authorized Person submits
        to
        the Bank and the Authorized Person shall have no objection. The Authorized
        Person hereby agrees to the following terms and conditions:

      

      
        	
                1.

              	
                The
                  bank is authorized to directly withdraw amounts payable that are
                  derived
                  from the aforementioned transactions between the Bank and the Authorized
                  Person or the borrower from said bank account of the Authorized
                  Person
                  without bank passbook or withdrawal slip of the Authorized Person
                  required. The Bank must mail or send all receipts of the money
                  withdrawals
                  to the Authorized Person for
                  records.

              

      

      
        	
                2.

              	
                The
                  Authorized Person shall go to the Bank for passbook entry and balance
                  check as soon as possible after said money withdrawals and the
                  Authorized
                  Person acknowledges all money withdrawals made by the Bank without
                  any
                  objection. 

              

      

      
        	
                3.

              	
                The
                  Authorized Person shall go to the Bank for dealing all loan related
                  payment procedures with the Bank upon the maturity date/due date
                  of each
                  loan. In the event that the Authorized Person defaults to complete
                  necessary procedures with the Bank with excuse that the Bank is
                  authorized
                  to directly withdraw all amounts payable, the Authorized Person
                  shall be
                  liable to legal responsibilities for all possible results related
                  to the
                  said matters.

              

      

      
        	
                4.

              	
                In
                  the event the Bank deems it necessary, finds incomplete loan application
                  processing, or insufficient savings in said bank account of the
                  Authorized
                  Person, the Authorized Person or the borrower shall immediately
                  go to the
                  Bank for completing necessary processes upon receiving notification
                  from
                  the Bank.

              

      

      
        	
                5.

              	
                The
                  Bank has the right to deal with the aforementioned transactions
                  according
                  to this Authorization Letter before receiving a written notice
                  from the
                  Authorized Person to abrogate the authorization right and the completion
                  of relevant authorization annulment
                  processes.

              

      

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      The
        Authorized Person: Kid
        Castle Internet Technology Corporation /
        Pai
        Suang-Yi (Seal)

      Business
        united No. / ID No. :

      The
        Borrower : Kid Castle Internet Technology Corporation /
        Pai
        Suang-Yi (Seal)

      

      Date
        :
        Mar. 16, 2006

      

      

      
        	
                Asistance
                  Manager Approval

              	
                Clerk
                  

              	
                Signature
                  Check

              
	 	 	 

      

      

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

    

     

    

      Authorization
        Letter

      

      To
        :
        International Bank of Taipei

      

      
        	
                1.

              	
                The
                  authorized person Kid
                  Castle Internet Technology Corporation
                  (hereinafter referred to as the “Authorized Person”) hereby instructs with
                  authorization irrevocability that all or a portion of those goods
                  shipped
                  and arrived owing to the request made by the Authorized Person
                  to the
                  International Bank of Taipei (hereinafter referred to as the “Bank”) with
                  the import license and/or other documents issued by the Bureau
                  of Foreign
                  Trade, the Ministry of Economic Affairs, R.O.C. or designated
                  organizations by the competent authority in this connection provided
                  for
                  the application of opening letters of credit; however, in the event
                  the
                  Authorized Person fails to repay the payments to the Bank within
                  the terms
                  of loans according to respective letters of credit or all letters
                  of
                  credit the Authorized Person requests the Bank to open are deemed
                  due date
                  according to relevant loan agreements, the Bank has the right to
                  apply to
                  the Ministry of Economic Affairs, R.O.C. for approval to receive
                  those
                  goods at Customs and auction and freely handle those imported
                  goods.

              

      

      
        	
                2.

              	
                The
                  Authorized Person sincerely states that the declaration at Customs
                  made by
                  the Bank is deemed as the act of the Authorized Person with the
                  force of
                  constraint on the Authorized
                  Person.

              

      

       

       

      
        	The Authorized Person: Kid
                Castle Internet Technology Corporation	(Seal)

      Address
        :
        1F, 148, Jiang-guo Road, Hsindian City

      Date
        :
        Mar. 16, 2006

      

      

      
        	
                Manager/Assistant
                  Manager

              	
                Clerk
                  

              	
                Signature
                  Check

              
	 	 	 

      

      

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

    

     

    

      
        	
                Promissory
                  note

              
	
                1. It
                  is approved that the promissory note of $30,000,000
                  NT
                  Dollars is paid to International Bank of Taipei on    .

                 

                2.
                   Destination
                  of payment :

                 

                3. The
                  interest of the loan shall be calculated at %
                  per annum starting from the issued date of the note. If the borrower
                  defaults to pay the interest and principal, 10% of the loan interest
                  as
                  penalty for in less than six months the reimbursement is made from
                  the
                  specified date, 20% of the loan interest as penalty for more than
                  six
                  months the reimbursement is made from the specified date.

                 

                If
                  the borrower defaults to pay the interest more than one year in
                  continuing
                  exhortation, the interest shall be added to the principal to be
                  collected
                  by the Bank.

                 

                4. This
                  promissory note is exempted from providing protest proof and the
                  Obligation of Notification on Article 89 of the Law of Bills and
                  Notes.

                 

                Drawer
                  : Kid Castle Internet Technology Corporation

                Address
                  : 1F, 148, Jiang-guo Road, Hsindian City

                 

                Drawer
                  : Pai Suang-Yi

                Address
                  :
                  1-3, Ally 80, Guan-yin Lane, Baisha Village, Huatan Township, Chang
                  Hwa
                  County

                 

                Drawer
                  :

                Address
                  :

                 

                Date
                  : March 16, 2006

              

      

      

      -----------------------------Please
        put a seal on the perforation--------------------------------------

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      Letter
        of
        Authority

      

      To
        :
        International Bank of Taipei

      

      The
        above
        Drawers concurrently issue the promissory note to the Bank as shown on the
        upper
        page and further authorize the Bank to automatically fill in the due date
        and
        interest rate on the promissory note according to agreed agreement(s) and
        relevant application policies to exercise the right of the note.

      

      Drawer
        :
        Kid Castle Internet Technology Corporation (seal)

      

      Drawer
        :Pai Suang-Yi (seal)

      

      Drawer
        :
        (seal)

      

      
        	
                Clerk
                  :

              	 
	
                Section
                  Chief :

              	 
	
                Assistant
                  Manager :

              	 
	
                Manager
                  :

              	 

      

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

    

     

    

      LETTER
        OF
        UNDERTAKING

      

      To
        :
        International Bank of Taipei

      

      The
        Borrower Kid
        Castle Internet Technology Corporation hereby
        gives an undertaking to deposit money (including savings at present and in
        the
        future) into the Current Account : A/C No.       ,
        a
        specific account preparing for an offset to loan(s),
        at the
        Bank opened in the Borrower’s name for the Bank to put in pledge as guarantee of
        the Borrower’s loans. The Borrower further authorizes the Bank to directly
        transfer money either from the Borrower’s bank account to pay off the amount of
        the loans, including principal, interest, penalty, and relevant charges incurred
        from said loans, or to
        the
        Borrower’s bank account
        without
        the Borrower’s bankbook, seal, or deposit receipt required. The Borrower shall
        not withdraw money from the bank account without the written consent of the
        Bank.

      

      

      

      Borrower
        : Kid
        Castle Internet Technology Corporation 

      Business
        Unit No.: 70676630

      Address
        :
        1F, 148, Jiang-guo Road, Hsindian City

      Date
        :
        March 16, 2006

      

      

      
        	
                The
                  original authorized seal of specific
                  account preparing for an offset of loans

              	 
	
                Checked
                  by :

              	 
	
                Supervisor
                  :

              	 

      

      

      

      
        	
                Date
                  of authorization Termination

              	 	
                No.

              	 

      

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

    

     

    

      Notification
        of
        Approved Loan

      

      

      To
        : Kid
        Castle Internet Technology Corporation

      

      The
        Bank
        is pleased to inform you that your loan
        application has been approved and the conditions for the amount of loan approved
        are set as follows:

      

      
        	
                Item

              	
                Amount

              	
                Loan
                  Conditions

              	
                Term
                  of Loan

              	
                Interest
                  Rate

              
	
                Middle-term
                  loan (single)

              	
                NT$15,000,000

              	
                3-year
                  installments paid by cheques, 30% of franchising fee should be
                  obtained as
                  preparation for loan repayment (the duration of cheque collection
                  may be
                  more than one year and above).

              	
                3
                  years

              	
                Base
                  Lending Rate of the Bank plus 2.29% (current : 6%)

              
	
                Total

              	
                NT$15,000,000

              	 	 
	
                Remark

              	 

      

      

      

      International
        Bank of Taipei, Jingmei Corporate Banking Center

      Date
        :
        Jan. 28, 2005

       

      
        
           

        

        
          8First
      Financial Holding Co., Ltd. FCB
      LEASING CO., LTD.

    

    Notification
      of Approved Loan

    

    
      	
              To:
                Kid Castle Internet Technologies Ltd.

            	
              TEL:(02)2218-5996

            
	
              Attn:
                Financial Dept. - Assistant Manager Huang

            	
              FAX:(02)2218-9984

            
	
              From:
                FCB LEASING Sales Dept. - Cheng-I Huang

            	
              TEL:(02)3343-7074

            
	 	 

    

    The
      Bank
      is pleased to inform you that your applied installment
      loans are approved by the Board of the BANK and the terms and conditions for
      the
      installment loans approved are set as follows:

    

    
      	
              1.

            	
              The
                borrower: Kid Castle Internet Technologies
                Ltd.

            

    

    
      	
              2.

            	
              Approved
                loan amount: NTD20,000,000

            

    

    
      	
              3.

            	
              Term
                of loan: 18 months

            

    

    
      	
              4.

            	
              Interest
                rate: 5%

            

    

    
      	
              5.

            	
              Handling
                charge: 1.5%

            

    

    
      	
              6.

            	
              Guarantor:
                Board Chairman - Kuo-An Wang, Vice-President - Yu-En
                Chiu

            

    

    
      	7.	
              Other
                conditions: 1. loan deposit :NTD4,000,000 (interest-free, paid in
                full
                when installment loans are due)

            

    

    
      	
            	2.	
              levy
                20% of the remaining installment loan amount of the third party check
                as a
                provisional collateral in financing (the third party check should
                be due
                within 360 days together with service agreement and invoice(s)
                provided)

            

    

    
      	
            	3.	
              board
                meeting minutes of Kid Castle Internet Technologies Ltd. should be
                provided

            

    

    
      	8.	
              Method
                of payment: on a monthly basis, the respective amounts of the loan
                installments are as follows (by promissory note):
                

            

    

    
      	
              Term

            	
              Installment
                $

            	
              Term

            	
              Installment
                $

            	
              Term

            	
              Installment
                $

            
	
              1st

            	
              1,155,650

            	
              7th 

            	
              1,155,650

            	
              13th 

            	
              1,155,650

            
	
              2nd

            	
              1,155,650

            	
              8th 

            	
              1,155,650

            	
              14th 

            	
              1,155,650

            
	
              3rd

            	
              1,155,650

            	
              9th 

            	
              1,155,650

            	
              15th 

            	
              1,155,650

            
	
              4th

            	
              1,155,650

            	
              10th 

            	
              1,155,650

            	
              16th 

            	
              1,155,650

            
	
              5th

            	
              1,155,650

            	
              11th 

            	
              1,155,650

            	
              17th 

            	
              1,155,650

            
	
              6th

            	
              1,155,650

            	
              12th 

            	
              1,155,650

            	
              18th 

            	
              1,155,650

            
	
              Total

            	
              20,801,700

            
	
              Handling
                Charge 1.5% (exclusive of tax)

            	
              300,000

            

    

    ※The
      above
      installment cheques should be negotiable and endorsed.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    9. 
      Invoice
      title:  FCB
      LEASING CO., LTD.

    Address:
       6F,
      94,
      Sec. 2, Zhongxiao
      E. Road, Taipei

    No.:
       16447816

    
      	
              10.

            	
              Others:
                

            

    

    
      	 	
              (1)

            	
              Loan
                deposit, tax, and handling charge (incl. tax) shall be directly deducted
                upon loan allotment.

            

    

    
      	 	
              (2)

            	
              Loan
                allotment date: 2-3 working days after the completion of borrower
                verification procedures.

            

    

    

    International
      Bank of Taipei, Jingmei Corporate Banking Center

    Date:
      Jan. 28, 2005

    

    

    Agreement

     

    This
      Agreement is made by and between FCB LEASING CO., LTD. (Party A) and Kid Castle
      Internet Technologies Ltd. (Party B).

    

    Whereas,
      Party B conducts commerce business by installments with Party A (detailed on
      the
      Sales and Purchase Agreement no. 013506003); now therefore, both parties hereto
      agreed and hereby do covenant and agree with each other the following terms
      and
      conditions regarding performance security for the aforementioned Agreement:
      

    

    
      	
              1.

            	
              In
                addition that Party B shall perform the liabilities of the aforementioned
                Agreement,
                Party B agrees to provide NTD4,000,000 for Party A as the performance
                security for the Agreement.

            

    

    
      	
              2.

            	
              In
                accordance with the aforementioned Agreement signed between both
                parties
                on Jun. 9, 2005, Party B agrees that Party A provides NTD4,000,000
                from
                the commerce amount as the performance
                security for Party A to perform the liabilities of the aforementioned
                Agreement; where the performance security is interest-free to Party
                B.

            

    

    
      	
              3.

            	
              In
                case Party B violates the provisions of the aforementioned
                Agreement,
                Party B agrees that the performance
                security
                of
                the aforementioned Agreement
                may be expropriated by Party A and should not be used to offset the
                payments payable of respective installments.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
              4.

            	
              Party
                B does not agree that Party A repays the payment
                beforehand.

            

    

    
      	
              5.

            	
              This
                Agreement shall be made in two copies, each of which shall be kept
                by each
                party for record. In the event any disputes arising from the explanation
                and execution of the Agreement and may bring in a lawsuit case, all
                parties agree that case shall be subject to the jurisdiction of the
                Taiwan
                Taipei District Court for the first trial of such
                lawsuit.

            

    

    

    

    Party
      A:
      FCB LEASING CO., LTD.

    Legal/Authorized
      Representative: Zhe-San Tsai

    

    Party
      B:
      Kid Castle Internet Technologies Ltd.

    Legal/Authorized
      Representative: Kuo-An Wang

    

    

    Date
      :
      Jun. 9, 2005

    

    

    Sales
      and Purchase Agreement

    
      	
              Clerk

            
	 

    

     

    This
      Agreement is made by and between FCB LEASING CO., LTD. (Party A) and Kid Castle
      Internet Technologies Ltd. (Party B); in view of the commerce business Party
      A
      purchases from Party B, both parties hereto agreed and hereby do covenant and
      agree with each other the following terms and conditions: 

    

    
      	
              1.

            	
              Object,
                specification, and quantity:

            

    

    
      	
              Object

            	
              Brand
                & Specification

            	
              Unit
                & Quantity

            
	
              A
                batch of textbooks (as shown below)

            

    

    

    
      	
              2.

            	
              The
                total amount: NTD20,000,000 (exclusive of
                tax)

            

    

    
      	
              3.

            	
              Place
                of delivery: the right of said object(s) shall belong to Party A
                effective
                from the date of signing of this Agreement, but the object(s) shall
                be
                safe kept by Party B or from Party B to a third party who is designated
                by
                Party A; the payments of installation and delivery shall be liable
                to
                Party B.

            

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      	
              4.

            	
              Method
                of payment: after the right of the object(s) are transferred to Party
                A,
                Party A shall pay the payments for goods to Party B or a third party
                who
                is designated by Party B.

            

    

    
      	
              5.

            	
              In
                case there is any defect, bad design, or manufacturing on the object(s)
                within three years of the product sales and purchase so as to reduce
                the
                normal or expected effect, or the object(s) fail to perform, Party
                B
                agrees to repair the object(s) at his cost without
                objection.

            

    

    
      	
              6.

            	
              Party
                B guarantees that the object(s) have not been mortgaged or entrusted
                to a
                third party or as conditional sale products or there is no any other
                disposition of the object(s) or any involvement of the object(s)
                in other
                debts; or otherwise Party B shall be liable for all related civil
                or
                criminal responsibilities. 

            

    

    
      	
              7.

            	
              In
                case that any provision of the second paragraph, Item 1, Article
                185 of
                the Company Law happens to the object(s), Party B promises that the
                object(s) shall be sold to Party A upon the resolution made by a
                large
                majority vote representing two-thirds of the attending shareholders
                who
                represent a majority of the total number of issued shares (or the
                two-thirds vote representing of a large majority attending shareholders
                of
                a publicly stock issuing company who represent a majority of the
                total
                number of issued shares). 

            

    

    
      	
              8.

            	
              This
                Agreement shall be made in two copies and effective upon the signing
                of
                this Agreement between both parties; each of the Agreement copy shall
                be
                kept by each party for record. 

            

    

    
      	
              9.

            	
              In
                the event any disputes arising from the explanation and execution
                of the
                Agreement and may bring in a lawsuit case, all parties agree that
                case
                shall be subject to the jurisdiction of the Taiwan Taipei District
                Court
                for the first trial of such
                lawsuit.

            

    

    

    

    Party
      A :
      FCB LEASING CO., LTD.

    Legal/Authorized
      Representative: Zhe-San Tsai

    

    Party
      B :
      Kid Castle Internet Technologies Ltd.

    Legal/Authorized
      Representative: Kuo-An Wang

    

    

    Date
      :
      Jun. 9, 2005

    

    

    
      	
              Serial
                No.

            	
              Object
                Item

            	
              Quantity

            	
              Unit

            
	
              110130010011

            	
              Textbook
                - New Magic Land 1

            	
              16540

            	
              Book

            
	
              110199030066

            	
              Textbook
                - Magazine Vol. 66

            	
              3520

            	
              Book

            
	
              110199030067

            	
              Textbook
                - Magazine Vol. 67

            	
              4396

            	
              Book

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	
              110230010011

            	
              Supplementary
                Material - New Magic Land 1

            	
              436174

            	
              Book

            
	
              110862011

            	
              Textbook
                - English Now 4

            	
              9819

            	
              Book

            
	
              111006011

            	
              Textbook
                - Big Steps(6)

            	
              1645

            	
              Book

            
	
              111112011

            	
              Textbook
                - Way To Go (12)

            	
              1224

            	
              Book

            
	
              111113011

            	
              Textbook
                - Way To Go (13)

            	
              1700

            	
              Book

            
	
              112707011

            	
              Textbook
                - Magic Land 7

            	
              7180

            	
              Book

            
	
              120851012

            	
              Supplementary
                Material - English Now 1 (standard version) Workbook (version
                93)

            	
              7121

            	
              Book

            
	
              122701012

            	
              Supplementary
                Material - Magic Land 1 (revised version)

            	
              4915

            	
              Book

            
	
              132424011

            	
              Teaching
                plan - Come With Me (practice
                notebook)

            	
              2700

            	
              Book

            
	
              132705011

            	
              Teaching
                plan - Magic Land 5 teacher’s manual

            	
              2658

            	
              Book

            
	
              142400011

            	
              Teaching
                product - Come With Me Learning Recorder

            	
              37451

            	
              Book

            
	
              160012011

            	
              Test
                - General English Proficiency Test (GEPT) I test C

            	
              2880

            	
              Book

            
	
              2101085201

            	
              Flash
                Card - English Now 2 Vocabulary (big)

            	
              2883

            	
              Pack

            
	
              2101086101

            	
              Flash
                Card - English Now 2 Conversation & Pronunciations
                (big)

            	
              1113

            	
              Pack

            
	
              2101242301

            	
              Flash
                Card - Come With Me/for Teacher (yellow)

            	
              2622

            	
              Pack

            
	
              2101243501

            	
              Flash
                Card - Come With Me/for Teacher (blue)

            	
              1447

            	
              Pack

            
	
              2102242401

            	
              Flash
                Card - Come With Me (green)/54 pieces

            	
              3994

            	
              Pack

            
	
              2102243601

            	
              Flash
                Card - Come With Me (purple)/65 pieces

            	
              5383

            	
              Pack

            
	
              330303013

            	
              CD
                interaction - Wonderland(yellow)/paperback version

            	
              2131

            	
              Disc

            
	
              330305013

            	
              CD
                interaction - Wonderland(blue)/paperback version

            	
              2787

            	
              Disc

            
	
              91291110001001

            	
              Textbook
                - Read It Now Red (1 book 1AVCD)

            	
              11830

            	
              Pack

            
	
              91292310001001

            	
              Textbook
                - Read It Now Yellow (1 book 1AVCD)

            	
              11315

            	
              Pack

            
	
              91293510001001

            	
              Textbook
                - Read It Now Blue (1 book 1AVCD)

            	
              10921

            	
              Pack

            
	
              110111140111

            	
              WAY
                TO GO(14)- Grammar & Conversation

            	
              1885

            	
              Book

            
	
              91040000000001

            	
              Kids
                Speak Main Course Series- Direct Sale

            	
              628

            	
              Pack

            
	
              91050000000001

            	
              Diverse
                Intelligence Main Course Series - Direct Sale

            	
              780

            	
              Pack

            
	
              91090000000001

            	
              Kids
                Talk Story Series - Direct Sale

            	
              422

            	
              Pack

            
	
              920302002

            	
              Teaching
                Aids - Wonderland Orange Teacher’s Wall Chart set (for preliminary school
                students)

            	
              686

            	
              Pack

            
	
              91000000000047

            	
              Textbook
                - Tomei series 2-2 - Direct Sale (Model test)

            	
              437

            	
              Pack

            
	 	 	 	 

    

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    Sales
      and Purchase Agreement by Installments

    Contract
      No.: 013506003

    
      	
              Seal(s)
                

              checked
                by

            	
              Guarantor
                

              Verified
                by

            
	 	 

    

     

    This
      Agreement is made by and between FCB LEASING CO., LTD. (Party A) and Kid Castle
      Internet Technologies Ltd. (Party B); in view of the commerce business Party
      A
      purchases from Party B of the following : 

    
      	
              Object

            	
              Brand
                & Specification

            	
              Unit
                & Quantity

            
	
              A
                batch of textbooks (as shown below in details)

            	 	 

    

    

    Both
      parties hereto agreed and hereby do covenant and agree with each other the
      following terms and conditions:

    
      	
              1.

            	
              Method
                of payment : 

            

    

    
      	 	
              1)

            	
              Party
                B purchase the aforementioned object(s) from Party A and the total
                amount
                is NTD20,000,000 (exclusive of
                tax).

            

    

    
      	 	
              2)

            	
              The
                payment amount should be paid to Party A as follows (exclusive of
                tax)
                :

            

    

    
      	
              Payment
                Date

            	
              Amount
                (NTD)

            
	
              7/13/2005

            	
              1,155,650

            
	
              8/13/2005

            	
              1,155,650

            
	
              9/13/2005

            	
              1,155,650

            
	
              10/13/2005

            	
              1,155,650

            
	
              11/13/2005

            	
              1,155,650

            
	
              12/13/2005

            	
              1,155,650

            
	
              1/13/2006

            	
              1,155,650

            
	
              2/13/2006

            	
              1,155,650

            
	
              3/13/2006

            	
              1,155,650

            
	
              4/13/2006

            	
              1,155,650

            
	
              5/13/2006

            	
              1,155,650

            
	
              6/13/2006

            	
              1,155,650

            
	
              7/13/2006

            	
              1,155,650

            
	
              8/13/2006

            	
              1,155,650

            
	
              9/13/2006

            	
              1,155,650

            
	
              10/13/2006

            	
              1,155,650

            
	
              11/13/2006

            	
              1,155,650

            
	
              12/13/2006

            	
              1,155,650

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

     

    
      	 	
              3)

            	
              Upon
                signing this Agreement, Party B shall give respective post-dated
                cheques
                with payment dates and amounts as shown above to Party A. Party A
                has the
                ownership of the object(s) prior to the full repayment of the payments
                for
                goods. 

            

    

    
      	
              2.

            	
              Delivery
                & acceptance: Party B shall be liable for any risk of the object(s)
                after Party B signs for the delivery of said object(s) with acceptance,
                and Party B shall not refuse to or delay the payments for goods or
                return
                the object(s) to Party A with any excuse. In case the object(s) are
                levied
                by the government, the compensation shall be received by Party
                A.

            

    

    
      	
              3.

            	
              Use
                & safekeeping of the object(s):

            

    

    
      	 	
              1)

            	
              Location
                : Taiwan

            

    

    
      	 	
              2)

            	
              Party
                B shall place the object(s) on locations designated by Party A. Except
                for
                normal application of the teaching materials, the object(s) shall
                not be
                hypothecated, mortgaged or disposed during the Agreement period without
                the consent from Party A in
                writing.

            

    

    
      	 	
              3)

            	
              Party
                B should act as a good administrator to safe keep and use the object(s)
                in
                good condition; all repair costs shall be liable to Party B, including
                fittings, tools and/or services associated with the object(s). Party
                B
                shall have qualified personnel to implement required repair and
                maintenance work.

            

    

    
      	 	
              4)

            	
              Party
                A may dispatch an experienced staff to the locations of storing the
                object(s) for checking the conditions of the object(s) and Party
                B shall
                not reject with any excuse and shall assist Party A in such checking
                work.

            

    

    
      	
              4.

            	
              Defect
                warranty liability: Party A has given the convenience to Party B
                for
                purchasing the object(s) by installments, and Party B fully understands
                that Party A is merely a seller of the object(s), not a manufacturer,
                Party B agrees to unconditionally forsake any right to claim defect
                of the
                object(s) from Party A. In case there is any manufacturing defect
                on the
                object(s), Party B agrees to directly go to the manufacturer for
                the
                repair of the object(s) and Party A shall not be responsible for
                such
                matters.

            

    

    
      	
              5.

            	
              Insurance:
                Party B shall insure the object(s) under relevant insurance coverage
                at
                his own costs, where the insurance company and insured accident categories
                shall be decided by Party A, who shall be the beneficiary. In addition,
                the insurance policy and the receipt of insurance premium shall be
                kept by
                Party A, Party B is responsible for the insurance policy renewal
                prior to
                the expiration of existing insurance period. Party A may pay for
                the
                insurance premium and necessary payments associated with the insurance
                policy renewal in advance and Party B shall reimburse all the
                aforementioned payment amount to Party A without any delay, or Party
                A may
                add the insurance premium and necessary payments associated with
                the
                insurance policy renewal that Party A has paid on behalf of Party
                B into
                the debt Party B owes to Party A. In case the insurance company delays
                or
                refuses to pay the compensation by any reason, Party B shall not
                reject or
                delay the repayment of the payments for goods to Party A.
                

            

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      	
              6.

            	
              Party
                B shall provide the Company Tax Assessment of January, April, July,
                and
                November of each year for Party A by mailing by the end of February,
                May,
                August, and December of the same year. Upon request by Party A, Party
                B
                should send all required reports (including, but not limited to,
                balance
                sheet, statement of profit and loss, debt and assets details) to
                Party A
                and legal notarizations of those reports may be considered by
                necessity.

            

    

    
      	
              7.

            	
              Breach
                of the Agreement: prior to the repayment of the debt of this Agreement,
                in
                case Party B fails to repay any of the installment amount prescribed
                in
                the Article 1 of this Agreement, all the obligations shall become
                due. In
                case any of the following conditions occur, without notification
                of or
                legal procedures performed by Party A, Party B loses the right of
                repaying
                the total amount by installments and Party A may request Party B
                to repay
                all the installment payments in full at
                once.

            

    

    
      	 	
              1)

            	
              Party
                B fails to repay any overdue installment payment, part of any installment
                payment or insufficient savings for cashing a promissory note signed
                by
                Party B, or Party B’s bank account is treated as a dishonored accountee,
                or any check of Party B is bounced or any payment is
                delayed;

            

    

    
      	 	
              2)

            	
              Party
                B is under provisional impounded, provisional disposition, provisional
                execution, forcible execution, or bankruptcy petition or application
                of
                reconciliation, mediation, reorganization, or declares bankrupt and
                liquidation due to other debts; 

            

    

    
      	 	
              3)

            	
              Inheritor(s)
                of Party B claims limited inheritance or renounces right to inherit
                the
                obligations of the Agreement due to death or missing of Party B or
                other
                reasons; 

            

    

    
      	 	
              4)

            	
              Party
                B fails to inform Party A in advance when Party B move to another
                address
                or relocate the storage of the object(s);

            

    

    
      	 	
              5)

            	
              Party
                B rejects to replace different guarantors when Party A considers
                that the
                credit of Party B is significantly decreased or the incapability
                of the
                guarantors of Party B; 

            

    

    
      	 	
              6)

            	
              Party
                B fails to act as a good administrator to carefully use or safe keep
                the
                object(s) or neglect the responsibility of maintenance or repair
                work;

            

    

    
      	 	
              7)

            	
              All
                the purchased object(s) are for business purpose; nevertheless, when
                the
                company ‘s business or operations are suspended, closed, dismissed, the
                company’s license is revoked; 

            

    

    
      	 	
              8)

            	
              Party
                B uses the object(s) for selling, mortgage, rent, or other disposition
                before the total payment amount prescribed in this Agreement is repaid;
                

            

    

    
      	 	
              9)

            	
              Party
                B fails to perform the terms and conditions of this Agreement.
                

            

    

    Any
      damage or costs incurred by Party A due to the retrieval of the object(s) from
      any of the aforementioned behaviors shall be liable to Party B.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
      	 	 	
              In
                case any of the aforementioned conditions occurs, Party B shall pay
                to
                Party A 10% of the annual interest based on the total remaining
                installment amount, starting from the date Party B breaches the
                Agreement.

            

    

    
      	
              8.

            	
              Guarantee
                liabilities: the guarantors of Party B have fully perused all contents
                of
                this Agreement and are liable to obligations with Party B in relation
                with
                all debts prescribed in this Agreement and shall forsake the guarantor’s
                counterplea right of telling first of the of Article 745 of Civil
                Code of
                Republic of China. In case Party B fails to perform the obligations
                of
                this Agreement, the guarantors of Party B shall repay the full amount
                on
                behalf of Party B at once and can not request for surrender insurance
                before the expiry of the insurance.

            

    

    
      	
              9.

            	
              Promissory
                note: Party B and the guarantors of Party B shall sign a promissory
                note
                of the payment amounts and dates prescribed in this Agreement with
                this
                Agreement No. indicated thereon to Party A for record. In case Party
                B
                fails to perform the Agreement, Party A may use the promissory note
                to ask
                for the payments payable, including penalty, interest, overdue interest
                and/or other costs incurred by Party B and the guarantors of Party
                B.

            

    

    
      	
              10.

            	
              Jurisdiction:
                this Agreement shall be performed in the location of Party A and
                in the
                event any disputes arising from the explanation and execution of
                the
                Agreement and may bring in a lawsuit case, Party A, Party B and the
                guarantors of Party B agree that case shall be subject to the jurisdiction
                of the Taiwan Taipei District Court for the first trial of such lawsuit.
                

            

    

    
      	
              11.

            	
              Others:
                either party may add, amend, or delete any terms and conditions prescribed
                in this Agreement during the Agreement period, such revision of this
                Agreement shall be made after the consent between both parties are
                obtained; although the guarantors of Party B may not be informed
                of such
                amendment or revision of this Agreement or the consent of the guarantee
                of
                Party B may not be obtained in advance, the guarantors of Party B
                should
                be liable to the responsibilities together with Party B to this Agreement
                and shall not file uncovenanted counterplea. In case that that Party
                A
                agrees Party B to extend the installment repayment periods of this
                Agreement, the guarantors of Party B should be willing to be liable
                to the
                responsibilities together with Party B to this Agreement.
                

            

    

    
      	
              12.

            	
              This
                Agreement shall be made in two copies; each of which shall be kept
                by each
                party for record. 

            

    

    
      	
              13.

            	
              Other
                Conditions: Party B shall pay to Party A NTD300,000 as the handling
                charge
                of financial planning (exclusive of
                tax).

            

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    
      	
              Verified
                Seal(s) 

            
	
              (Kid
                Castle Internet Technologies Ltd. seal)

              Kuo-An
                Wang (seal)

              Date:
                Jun. 9, 2005

            
	
              Kuo-An
                Wang (seal)

              Date:
                Jun. 9, 2005

            
	
              Yu-En
                Chiu (seal)

              Date:
                Jun. 9, 2005

            
	 

    

    

    

    Party
      A:
      FCB LEASING CO., LTD. (sealed)

    Legal/Authorized
      Representative: Zhe-San Tsai

    

    Party
      B:
      Kid Castle Internet Technologies Ltd. (sealed)

    Legal
      /Authorized Representative: Kuo-An Wang (signed and sealed)

    

    Guarantors
      of Party B: Kuo-An Wang (signed and sealed)

    Address:
      2F, 299, Xi-yuan Road, Hsindian City, Taipei County

    

    Guarantors
      of Party B: Yu-En Chiu (signed and sealed)

    Address:
      71, Sec. 1, Nan-chang Road, Chung-cheng District, Taipei City 

    

    Date:
      Jun. 9, 2005

    

    

    
      	
              Serial
                No.

            	
              Object
                Item

            	
              Quantity

            	
              Unit

            
	
              110130010011

            	
              Textbook
                - New Magic Land 1

            	
              16540

            	
              Book

            
	
              110199030066

            	
              Textbook
                - Magazine Vol. 66

            	
              3520

            	
              Book

            
	
              110199030067

            	
              Textbook
                - Magazine Vol. 67

            	
              4396

            	
              Book

            
	
              110230010011

            	
              Supplementary
                Material- New Magic Land 1

            	
              436174

            	
              Book

            
	
              110862011

            	
              Textbook
                - English Now 4

            	
              9819

            	
              Book

            
	
              111006011

            	
              Textbook
                - Big Steps(6)

            	
              1645

            	
              Book

            
	
              111112011

            	
              Textbook
                - Way To Go (12)

            	
              1224

            	
              Book

            
	
              111113011

            	
              Textbook
                - Way To Go (13)

            	
              1700

            	
              Book

            
	
              112707011

            	
              Textbook
                - Magic Land 7

            	
              7180

            	
              Book

            
	
              120851012

            	
              Supplementary
                Material - English Now 1 (standard version) Workbook (version
                93)

            	
              7121

            	
              Book

            
	
              122701012

            	
              Supplementary
                Material - Magic Land 1 (revised version)

            	
              4915

            	
              Book

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

    
      	
              132424011

            	
              Teaching
                plan - Come With Me(practice
                notebook)

            	
              2700

            	
              Book

            
	
              132705011

            	
              Teaching
                plan - Magic Land 5 teacher’s manual

            	
              2658

            	
              Book

            
	
              142400011

            	
              Teaching
                product - Come With Me Learning Recorder

            	
              37451

            	
              Book

            
	
              160012011

            	
              Test
                - General English Proficiency Test (GEPT) I test C

            	
              2880

            	
              Book

            
	
              2101085201

            	
              Flash
                Card - English Now 2 Vocabulary (big)

            	
              2883

            	
              Pack

            
	
              2101086101

            	
              Flash
                Card - English Now 2 Conversation & Pronunciations
                (big)

            	
              1113

            	
              Pack

            
	
              2101242301

            	
              Flash
                Card - Come With Me/ for Teacher (yellow)

            	
              2622

            	
              Pack

            
	
              2101243501

            	
              Flash
                Card - Come With Me/ for Teacher (blue)

            	
              1447

            	
              Pack

            
	
              2102242401

            	
              Flash
                Card - Come With Me (green)/54 pieces

            	
              3994

            	
              Pack

            
	
              2102243601

            	
              Flash
                Card - Come With Me (purple)/65 pieces

            	
              5383

            	
              Pack

            
	
              330303013

            	
              CD
                interaction - Wonderland(yellow)/paperback version

            	
              2131

            	
              Disc

            
	
              330305013

            	
              CD
                interaction - Wonderland(blue)/paperback version

            	
              2787

            	
              Disc

            
	
              91291110001001

            	
              Textbook
                - Read It Now Red (1 book 1AVCD)

            	
              11830

            	
              Pack

            
	
              91292310001001

            	
              Textbook
                - Read It Now Yellow (1 book 1AVCD)

            	
              11315

            	
              Pack

            
	
              91293510001001

            	
              Textbook
                - Read It Now Blue (1 book 1AVCD)

            	
              10921

            	
              Pack

            
	
              110111140111

            	
              WAY
                TO GO(14) - Grammar & Conversation

            	
              1885

            	
              Book

            
	
              91040000000001

            	
              Kids
                Speak Main Course Series - Direct Sale

            	
              628

            	
              Pack

            
	
              91050000000001

            	
              Diverse
                Intelligence Main Course Series - Direct Sale

            	
              780

            	
              Pack

            
	
              91090000000001

            	
              Kids
                Talk Story Series - Direct Sale

            	
              422

            	
              Pack

            
	
              920302002

            	
              Teaching
                Aids -Wonderland Orange Teacher’s Wall Chart set (for preliminary school
                students)

            	
              686

            	
              Pack

            
	
              91000000000047

            	
              Textbook-
                Tomei series 2-2 - Direct Sale (Model test)

            	
              437

            	
              Pack

            
	 	 	 	
               

            

    

     

    
      
         

      

      
        11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}]]