Document:

Unassociated Document

    EXHIBIT
      10.9

    

    CONTRACT
      OF LAND AND ESTATE MORTGAGE

    

    Whereas
      Shenzhen Branch of DBS ( the contact information is listed in Exhibit C) agrees
      to provide the borrower listed in Exhibit B with credit letter listed in Exhibit
      A and the borrower agrees to mortgage items listed in Exhibit D after
      negotiating with the bank:

    

    
      	1.	
              mortgage
                assurance

            

    

    

    
      	 	
              (1)

            	
              the
                borrower agrees to assure with guaranty to the bank for debts without
                any
                condition.

            

    

    
      	 	
              (2)

            	
              scope
                of mortgage assurance includes corpus, interests, punished interest,
                breach punishment, compensation for the loss, expenses, cost, fee
                for
                lawsuit, lawyer and other items.

            

    

    

    
      	2.	
              warrant
                of rights

            

    

    

    
      	 	
              (1)

            	
              the
                borrower has promised to hand in the following documents to the bank
                when
                signing the contract and each document is up to the requirement of
                the
                bank:

            

    

    

    
      	 	
              A.

            	
              if
                the borrower mortgages its ownership of the land, the borrower should
                hand
                in the copy of warrant of rights in solely using the land and other
                required documents to the bank, not restricted
                to:

            

    

    

    
      	 	
              (a)

            	
              certificate
                of use of state-owned land

            

    

    
      	 	
              (b)

            	
              contract
                of transfer or purchase the right of using state-owned
                land

            

    

    
      	 	
              (c)

            	
              warrant
                of the payment of purchase of state-owned
                land

            

    

    
      	 	
              (d)

            	
              land
                valuation report by qualified land
                intermediary

            

    

     

    
      	 	
              B.

            	
              if
                the borrower mortgages its buildings or houses registered, the borrower
                should hand in the copy of warrant of rights in solely using it and
                other
                required documents to the bank, not restricted to:
                

            

    

    

    
      	
            	(a)	
              certificate
                of use of state-owned land, certificate of ownership of the house,
                certificate of real estate

            

    

    
      	
            	(b)	
              warrant
                of contract and payment of purchase the building or
                houses

            

    

    
      	
            	(c)	
              leasing
                contract of the building or the
                house

            

    

     

    2.3.2

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(d)	
              receipt
                of insurance or payment of the building or the
                house

            

    

    
      	
            	(e)	
              estate
                valuation report by qualified estate
                intermediary

            

    

     

    
      	 	
              (2)

            	
              the
                bank has the right to ask the borrower to hand in supplementary documents
                or information related to mortgage.

            

    

    

    
      	3.	
              Value
                of mortgage and its ownership

            

    

    

    
      	 	
              (1)

            	
              the
                value of mortgage that both parties agree on the day the letter is
                signed
                is listed in Exhibit D

            

    

    
      	 	
              (2)

            	
              the
                borrower has the ownership of the mortgaged before the bank acts
                according
                to the item 7. the bank has the right to have the ownership of the
                mortgaged at any situation.

            

    

    
      	 	
              (3)

            	
              The
                borrower has the responsibility of the mortgaged unless the hypothec
                is
                under the name of the bank.

            

    

    

    
      	4.	
              Declaration:

            

    

    

    The
      borrower declares:

    

    
      	 	
              (1)

            	
              the
                borrower is legally built and legally exists, so it has the complete
                civil
                action capability. It has the right to sign and carry out the
                contract.

            

    

    
      	 	
              (2)

            	
              The
                borrower is willingly to sign the contract. The responsibility of
                the
                borrower is legal, effective, and can be forced to
                obey.

            

    

    
      	 	
              (3)

            	
              The
                borrower has the only legal ownership of the right of use of state-owned
                land or the other mortgaged.

            

    

    
      	 	
              (4)

            	
              The
                information of the mortgaged listed in Exhibit D is true, accurate
                and
                complete

            

    

    
      	 	
              (5)

            	
              The
                ownership of the mortgaged is clear and the mortgaged can be mortgaged
                according to the law.

            

    

    
      	 	
              (6)

            	
              The
                borrower has the right to mortgage the guaranty to the
                bank.

            

    

     

    2.3.2a

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	
              (7)

            	
              the
                warrant of mortgage is legal and effective in the set in the contract.
                The
                bank is the number 1 person of the hypothec and has the preference
                to have
                the mortgaged.

            

    

    
      	 	
              (8)

            	
              the
                right and the responsibility of the borrower in the contract will
                not
                violate other laws

            

    

    
      	 	
              (9)

            	
              all
                the maturity tax of the mortgaged is
                cleared

            

    

    
      	 	
              (10)

            	
              the
                borrower did not sell, lease or dispose the mortgaged unless approved
                by
                the bank in written forms.

            

    

    
      	 	
              (11)

            	
              the
                borrower has the only ownership of the mortgaged unless approved
                by the
                bank in written forms.

            

    

    
      	 	
              (12)

            	
              All
                the information and documents handed in are
                accurate

            

    

    
      	 	
              (13)

            	
              the
                borrower legally use the right of use of the mortgaged
                land.

            

    

    
      	 	
              (14)

            	
              the
                mortgaged building or house are not enrolled into the scope of
                impressments or break

            

    

    
      	 	
              (15)

            	
              all
                declaration listed in item 4 is true and accurate within the validity
                of
                the contract

            

    

    

    
      	
              5.

            	
              Promise

            

    

    

    The
      borrower promises:

    

    
      	 	
              (1)

            	
              the
                borrower will keep the mortgaged in a satisfying state (except natural
                loss)

            

    

    
      	 	
              (2)

            	
              the
                borrower will immediately inform the bank of the matter that may
                change
                its lawful status.

            

    

    
      	 	
              (3)

            	
              the
                borrower will acquire and keep all the legally acquired items and
                obey all
                the items to make sure that it can sign and carry out the contract,
                and to
                ensure the effective of the
                contract.

            

    

    
      	 	
              (4)

            	
              the
                borrower will constantly sign all the documents the bank asks it
                to sign
                to ensure the right of the bank to have the ownership of the
                mortgaged.

            

    

    
      	 	
              (5)

            	
              the
                borrower will immediately inform the bank of any accidents that may
                have
                bad effect on the bank.

            

    

     

    2.3.2b

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(6)	
              the
                borrower cannot do the following without the approval of the bank
                in
                written forms:

            

    

    
      	
            	(1)	
              the
                borrower cannot sell or lease or dispose of the
                mortgaged

            

    

    
      	
            	(2)	
              the
                borrower cannot have the hypothec set on the mortgaged except for
                the
                mortgaged in the contract.

            

    

    
      	
            	(3)	
              any
                action that may let the right of the bank on the mortgaged reduced
                is not
                allowed.

            

    

    

    
      	
            	(7)	
              the
                borrower must pay all taxes and expenses related to the
                mortgaged

            

    

    
      	
            	(8)	
              the
                borrower must inform us of any notice, order or suggestions given
                by any
                state departments about the mortgaged within 14 days upon receiving.
                The
                borrower should obey what is required by the state department or
                put
                forward counterview required by our
                bank.

            

    

    
      	
            	(9)	
              the
                borrower should allow the bank or its authorized representative to
                enter
                into the mortgaged after inform the borrower in
                advance.

            

    

    
      	
            	(10)	
              the
                borrower must ensure the value of the mortgaged is not effected by
                it. If
                the action of the borrower has the value reduced, the bank has the
                right
                to ask the borrower stop its action. The bank has the right to ask
                the
                borrower recover the original value of the mortgaged or offer the
                surety
                of the balance. Once knowing the requirement of the bank, the borrower
                must do what is required.

            

    

    
      	
            	(11)	
              the
                borrower has no right to change the nature of the use of the mortgaged
                without the approval of the bank in written
                forms.

            

    

    

    
      	6.	
              Insurance

            

    

     

    
      	
            	(1)	
              the
                borrower must buy insurance for the mortgaged in case of any loss
                of the
                value of the mortgaged. The period of the insurance should not be
                less
                than the implementation period. The number one beneficiary should
                be the
                bank and it should be stipulated on the insurance policy that the
                insurance agent must inform the bank of any change or cancel of the
                insurance 30 days in advance in written forms. Insurance items on
                insurance agent, insurance category, risk, insurance period, insurance
                scope, etc must be approved by the bank in written forms and the
                borrower
                should be responsible for all the expense.

            

    

    
      	
            	(2)	
              The
                borrower must ensure that the bank has the preference for secure
                compensation. The borrower must authorize the bank to have the right
                to
                ask for compensation. The borrower must pay for all premiums to keep
                the
                validity of the insurance and hand in receipt of the payment to the
                bank.

            

    

    
      	
            	(3)	
              All
                compensation on the mortgaged should be directly given to the bank.
                If the
                insurance agent gives the compensation to the borrower, the borrower
                must
                immediately hand it to the bank. 

            

    

     

    2.3.2c

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(4)	
              the
                borrower should hand in all documents or information of the insurance
                on
                the mortgaged to the bank as
                required.

            

    

    
      	
            	(5)	
              the
                borrower must inform the bank of any matters that may lead the insurance
                agent to compensate and the borrower cannot deal with
                compensation.

            

    

    
      	
            	(6)	
              the
                borrower has no right to change or cancel the insurance of the mortgaged.
                Any action that may have the risk reduced or nil is not
                allowed.

            

    

    
      	
            	(7)	
              the
                bank has the right to insure for the borrower if the borrower has
                not
                insured according to the provision of item 6 in the contract. The
                borrower
                must pay what the bank has spent on the insurance. (the bank has
                the right
                to ask the borrower to pay interest of some
                expenses.)

            

    

    

    
      	7.	
              The
                Right of the Bank

            

    

    

    
      	
            	
              (1)

            	
              the
                bank has the right to dispose of the mortgaged according to the law
                to
                realize the hypothec set in the contract if the following
                happens:

            

    

    

    
      	 	
              A.

            	
              the
                borrower has not made an extended agreement with the bank when the
                implementation period is overdue and the debt is not
                cleared.

            

    

    
      	 	
              B.

            	
              the
                borrower is declared bankrupted or dismissed according to the
                law

            

    

    
      	 	
              C.

            	
              the
                borrower violates the credit letter, the contract other contract
                related
                to the loan or any items of the
                agreement.

            

    

    
      	
            	
              (2)

            	
              hence,
                the bank has the right to exert the right put by the law, regulation,
                and
                the contract, including but not restricted to the following
                right:

            

    

    

    
      	 	
              A.

            	
              to
                negotiate with the borrower to covert, auction or sell the mortgaged
                to
                get the pay. If it cannot be negotiated, it can be suited to the
                Court of
                People.

            

    

    
      	 	
              B.

            	
              to
                own the mortgaged and exert the right on the mortgaged. The bank
                can quit
                the ownership of the mortgaged and have the ownership of the mortgaged
                in
                the future.

            

    

    
      	 	
              C.

            	
              to
                maintain, change, improve or develop the mortgaged in its appropriate
                ways
                and to insure for the mortgaged or clear all the
                debts

            

    

    
      	 	
              D.

            	
              to
                transact all process related to the mortgaged such as approval, register,
                or nortarization, etc.

            

    

    
      	 	
              E.

            	
              to
                give account, dispute, inquiry, or requirement related to the mortgaged
                at
                any time with any person to deal with, mediate, or ask for arbitration,
                compromise and arrangement.

            

    

     

    2.3.2d

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	F.	
              to
                ask for, suit, force, argue, compromise or abandon all seek, mediation
                or
                lawsuit related to the mortgaged under the advantage
                

            

    

    

    
      	
            	
              (3)

            	
              the
                bank will deal with the sum of money on disposal of the mortgaged
                in the
                following orders:

            

    

    

    
      	 	
              A.

            	
              all
                expenses, cost and debts on dealing with the
                mortgaged

            

    

    
      	 	
              B.

            	
              taxes
                on the mortgaged

            

    

    
      	 	
              C.

            	
              the
                debts of the set of hypothec preferred above the contract according
                to the
                law and regulation

            

    

    
      	 	
              D.

            	
              the
                debts the borrower owed to the bank

            

    

    
      	 	
              E.

            	
              the
                remains to the borrower and other
                obligee

            

    

    

    
      	8.	
              A
                Power of Attorney

            

    

    

    
      	
            	(1)	
              the
                borrower irrepealably appoint the bank and the authorized employee
                as its
                agent to sign documents or act in the name of the borrower so as
                to ensure
                the right of bank in the contract. The bank has the right to transfer
                the
                power of attorney.

            

    

    
      	
            	(2)	
              acts
                made according to 8(1) by the bank, the authorized employee or agent
                are
                done in the name of the borrower, so the result is shoulder by the
                borrower.

            

    

    
      	
            	(3)	
              the
                borrower must admit and confirm acts made according to 8(1) by the
                bank,
                the authorized employee or the
                agent.

            

    

    

    
      	9.	
              Debts
                Cannot be Commuted

            

    

    

    
      	
            	
              (1)

            	
              once
                the bank learned after signing the contract the situation that the
                subsequent right or any right may had a bad effect on taking the
                right of
                the mortgaged, the sum of money paid after can be used not to commute
                the
                debt.

            

    

    
      	
            	
              (2)

            	
              the
                bank has the right to not to use the sum of money received according
                to
                the contract to pay back the debt.

            

    

    

    
      	10.	
              Currency

            

    

     

    
      	
            	(1)	
              the
                borrower should use the currency for the debt listed in the credit
                letter
                or other currency approved by the bank to shoulder its responsibility
                in
                the contract.

            

    

     

    2.3.2e

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(2)	
              Any
                fund the bank is received from the loaner is different with currency
                in
                the 10(1) term, the bank has the right to change the above fund into
                currency, and the loaner should complement the rest. Anyway, loaner
                should
                pay all the fees arise from the
                exchange.

            

    

    

    
      	
            	
              (3)

            	
              The
                responsibility under 10th
                item is isolated, add on the loaner. This responsibility could submit
                to
                court or put teeth in as an isolated
                request.

            

    

    

    
      	11.	
              Fee

            

    

    

    
      	
            	
              1.

            	
              The
                loaner agree to pay all the fees arise from this agreement and any
                delay
                amercement, including value added tax, stamp tax, register fee,
                notarization fee and other fee and
                tax.

            

    

    

    
      	
            	
              2.

            	
              In
                the condition that the loaner disobey the 11(1) term, in accordance
                with
                the bank’s request, the loaner should pay all the related fee immediately,
                and the interest is made by the
                bank.

            

    

    

    
      	12.	
              Salvo
                of Right

            

    

    

    
      	
            	
              (1)

            	
              The
                loaner’s responsibilities will not decrease or release because
                of:

            

    

    
      	 	
              1)

            	
              Grant
                letter is inefficiency or un-legal or unable to implement, this term
                is
                explained by 1st
                term of 5th
                item of 1st
                sector in “PRC Assure Law”, which is effectively in Oct 1st,
                1995

            

    

    
      	 	
              2)

            	
              Any
                modify, supplement, delete of the grant letter, this term is explained
                by
                2-3-24 term of “PRC Assure Law”.

            

    

    
      	 	
              3)

            	
              Any
                postpone favorable policy or release that bank deliver to
                anybody.

            

    

    
      	 	
              4)

            	
              The
                bank makes any compromise agreement with anybody, or abandon and
                change
                any right to anybody.

            

    

    
      	 	
              5)

            	
              Anybody
                change any legally position, including share equity transfer, bankruptcy,
                liquidation, merge, acquisition, recombine, death, and other behavior
                limit and so on, and any business scale changing,
                and

            

    

    
      	 	
              6)

            	
              Anybody
                make any assurance, mortgage, impawn or other assure to any
                liabilities.

            

    

     

    2.3.2f

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(2)	
              the
                bank has the right to exchange currency received
                from the borrower that is different form the currency listed in 10(1)
                into
                the appointed currency and the borrower should make up for the balance.
                The borrower should pay for all expense on the exchange of the
                currency.

            

    

    
      	
            	(3)	
              the
                bank has no responsibility to suit or put mediation on other parties
                before exerting the right of the contract or exerting hypothec set
                in the
                contract related to the debts.

            

    

    

    
      	13.	
              Durative
                of the mortgage

            

    

    

    the
      mortgaged set in the contract and the responsibility of the borrower stated
      in
      the contract are durative except that the bank releases the contract according
      to the provision of item 20.

    

    
      	14.	
              Independence
                of the mortgage

            

    

    

    
      	
            	
              (1)

            	
              the
                mortgage in the contract is independent, and its effectiveness is
                not
                influenced.

            

    

    
      	
            	
              (2)

            	
              Any
                right of the bank is not influenced by the
                contract.

            

    

    

    
      	15.	
              Remedy
                or Abandon

            

    

    

    
      	 	
              (1)

            	
              if
                the bank does not exert or delay to exert the right stated in the
                contract, the right of the bank stated in the contract is not
                influenced.

            

    

    
      	 	
              (2)

            	
              The
                contract has no effect on any right given by the law or regulation
                to the
                bank

            

    

     

    
      	16.	
              Divide
                of Items

            

    

    

    If
      any
      item in the contract is illegal or ineffective in certain situation, the remains
      are not influenced.

    

    
      	17.	
              Absolution
                of Responsibility

            

    

    

    
      	
            	(1)	
              the
                decision made by the bank is the final one and has sanction on the
                borrower. Any certificate signed by director, employee of the bank
                or
                authorized representative except for distinguished mistakes has sanction
                on the borrower.

            

    

     

    2.3.2g

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(2)	
              the
                bank, the authorized, or the agent has no responsibility on the loss
                or
                damage of the mortgaged to the borrower or other people during the
                process
                of the realization of the hypothec except that it is done
                intentionally.

            

    

    

    
      	18.	
              Notice

            

    

     

    
      	
            	
              (1)

            	
              notice
                or other messages related to the contract must be in written forms,
                sent
                through telecommunication, fax or
                letters

            

    

    
      	
            	
              (2)

            	
              all
                the abovementioned documents or messages should be sent to the address
                listed in Exhibit B or Exhibit C or the address given 15 days in
                advance.
                If the receiver is the borrower, it should be send to the borrower’s work
                office or the latest address the bank has learned. No matter when
                the
                borrower sends the notice only after the bank receives it, can it
                be
                effective.

            

    

    

    
      	19.	
              Transfer

            

    

    

    
      	
            	
              (1)

            	
              the
                borrower, the bank and the heirs of each party are regulated by the
                contract

            

    

    
      	
            	
              (2)

            	
              the
                borrower has no right to transfer any right or obligation of the
                contract
                to others

            

    

    
      	
            	
              (3)

            	
              the
                bank has the right to transfer the right and the obligation of the
                contract to others without the approval of the
                borrower

            

    

    

    
      	20.	
              Cancel

            

    

     

    Once
      the
      borrower clears its debts according to the provision the contract, the bank
      should assists the borrower to deal with the process for canceling the contract,
      but all expenses should go to the borrower. In the mean time the bank should
      return the documents or information related to the mortgaged to the
      borrower.

    

    
      	21.	
              Applied
                Law

            

    

    

    The
      contract is applied to the law of P.R.C

     

    2.3.2h

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	22.	
              Jurisdiction

            

    

     

    
      	
            	
              (3)

            	
              both
                parties agree to be regulated by The Court of China of the dispute
                on the
                contract. The borrower promises not to counter with the jurisdiction
                of
                The Court of China.

            

    

    
      	
            	
              (4)

            	
              the
                bank is not restricted to the above stated provisions. The bank has
                the
                right to suit in other courts and the bank can do it at any time
                and any
                place to a court or many courts.

            

    

    
      	
            	
              (5)

            	
              the
                lawsuit of the contract is dealt with by the local court where the
                bank
                locates. If the mortgaged is located in other place, the bank can
                choose
                to suit in either the local court where the bank locates or the court
                where the mortgaged locates. Whatever the choice of the bank, the
                borrower
                must agree.

            

    

    

    
      	23.	
              Information
                Policies

            

    

    

    The
      borrower agrees to let the bank give out information to customers about the
      borrower. The borrower agrees to be regulated by the information policy,
      especially:

     

    
      	
            	(a)	
              our
                bank can ask other organizations or people to check or provide or
                collect
                related information about the
                borrower.

            

    

    
      	
            	(b)	
              our
                bank has the right to transfer the information to other places beyond
                Shenzhen including Hongkong and
                Singapore

            

    

    
      	
            	(c)	
              our
                bank has the right to make a contrast between information acquired
                and
                information of the borrower to act according to the result of the
                contrast
                including actions that may have bad effect on the
                borrower.

            

    

     

    The
      borrower has agreed to be regulated by such information policy and the
      information policy and notice become part of the agreement.

     

    2.3.2i

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	24.	
              Information
                Release

            

    

    

    The
      bank
      has the right to inform the other party of the information on the borrower,
      the
      mortgaged on the basis of secrecy under the condition that it has no effect
      on
      item 23. The bank has the right to inform state or supervising department of
      the
      information according to law of P.R.C.

    

    
      	25.	
              Notarization

            

    

    

    After
      signing the contract, both parties should apply for the written notarial
      creditor’s right in the notarial office where the bank locates. The bank can ask
      the local court then to force the borrower to do what is required without notice
      in advance if the borrower does not carry out its responsibility. 

    

    
      	26.	
              Effective

            

    

    

    
      	 	
              (3)

            	
              the
                borrower should make a register of the mortgaged according to the
                provision of item 41 of the second section of the chapter 3 of the
                law of
                surety. The contract takes effect once it is registered. If the contract
                according to provisions must be approved by certain departments then
                it
                takes effect after the approval.

            

    

    
      	 	
              (4)

            	
              The
                borrower should register according to the provision of item 42 of
                the
                second section of the chapter 3 of the law of surety and get the
                certificate of the register and other related
                documents

            

    

    
      	 	
              (5)

            	
              The
                borrower should go to the local foreign exchange management department
                to
                register and get the certificate within 15 days after signing the
                contract
                if the currency is foreign one.

            

    

    
      	 	
              (6)

            	
              If
                the borrower is the foreign-run enterprise the borrower should get
                the
                approval of department of approve and put on records to the business
                administration department.

            

    

    
      	 	
              (7)

            	
              The
                borrower should hand in all warrants of the abovementioned approval,
                register, and records to the bank.

            

    

    

    
      	27.	
              Other

            

    

     

    
      	 	
              (1)

            	
              the
                title of each item in the contract or the title of the exhibit is
                for
                reference, it has no effect on the explanation of the
                item.

            

    

    
      	 	
              (2)

            	
              Exhibit
                is part of the contract, and has same effect with the
                contract

            

    

    
      	 	
              (3)

            	
              The
                meaning of clearance of debts does not include the payment of bankrupt
                or
                such 

            

    

     

    2.3.2j

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    It
      is
      proved that the authorized of both parties sign the contract at the following
      place and date.

    

    Please
      notice:

    

    The
      letter is a very important lawful document. Please read carefully before
      signing. If necessary you should ask professional suggestions to know the result
      of signing on the letter. Only after you agree to be regulated by the letter
      can
      you sign on it.

    

    

    The
      borrower

    

    Legal
      representative (signature)

     

    /s/
      Shenzhen Branch of DBS
Shenzhen
      Branch of DBS

    

    Legal
      representative (signature)

    

    

    Date
      signed: March 28, 2005

    Place
      signed: Shenzhen city, China

     

     

    2.3.2k

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      A

    

    Credit
      Letter

    

    
      	1.	
              Number
                :

            

    

    

    
      	2.	
              Date
                :

            

    

    

    
      	3.	
              Class
                of the credit letter :

            

    

    

    
      	4.	
              Currency
                of the credit letter :

            

    

    

    
      	5.	
              Period
                for the responsibility of liability :

            

    

     

     

    2.3.3

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      B

    

    The
      borrower

    

    Title:
      Fujian Zhongde Technology Co., Ltd.

    

    Number
      of
      Business License: 3500002001868

    

    Legal
      representative: Yang Qin

    

    Legal
      address: Fulu Industry Area, Longtian, Fuqing city

    

    Communication
      address:

    

    TEL:
      0591-85773387

    

    FAX:
      85776993

     

     

    2.3.3.a

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      D

    

    Guaranty

    

    
      	(1)	
              Information
                of the guaranty:

            

    

    

    Estate
      mortgage: certificate of the right of Rongfang R 0402453, 0402452

     

    Lang
      mortgage: Ronglong state-used 05864,05865,07841,07842

     

    
      	(2)	
              the
                value of the mortgaged on the signing day after
                negotiation:

            

    

    

    

      
        	
                the
                  right of the use of land:

              	 	 	
                (4760998

              	
                )

              
	
                building
                  or house:

              	 	 	
                (9262002

              	
                )

              
	
                Total:

              	 	 	
                14023000

              	 

      

    

    2.3.3b

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      right
      of other party on the house: Shenzhen Branch of DBS

    The
      ownership of the house: Fujian Zhongde Technology Co., Ltd.

    Certificate
      number of the ownership of the house: certificate of the right of Rongfang
      R
      0402452_0402453

    House
      located: Fulu Industry Area, Longtian town

    Right
      category: mortgage Value of the right: 140,230,000 RMB (loan about 100,000,000
      RMB)

    Area
      of
      the building (sq. m): 10900.50

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    Date
      set:
      January 1, 2005 to January 1, 2006 Appointed Period: 12 months

     

    2.3.3c

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Supervised
      by Build Department of P.R.C.

    Register
      number: 35003

    

    

    

    

    Rongfang                                        the
      other party
      TR050364

    

    

    

    

    According
      to Constitution of P.R.C and The Law of Management of Urban Real Estate of
      P.R.C
      the certificate is given to prove the right of the other party within the scope
      legal.

     

     

    2.3.4

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Rong
      other party (2005) number 049

    Obligee
      of the land: Shenzhen Branch of DBS

    Obligor:
      Fujian Zhongde Technology Co., Ltd.

    Location:
      Zhentang village, Longtian

    Nature
      of
      ownership: state-owned

    Area
      of
      the use of the land: 32898.0 acre

    Use
      of
      the land: industry Use category: transfer

    

    the
      certificate is given to prove the right of the other party within the scope
      legal. 

    

    

    

    Category
      and scope of the right of the other party:

    Right:
      mortgaged right of the use of the state-owned land

    Mortgaged
      fund: 100,000,000 RMB

    Mortgaged
      period: January 31, 2005 to January 31, 2006-7-24

    Area:
      32898.0 sq. m

    

    Date
      set:
      April 8, 2005

    Sequence
      of the right: Shenzhen Branch of DBS

    Notes:
      the mortgaged are: state-used Ronglong (2004) 07842, 07843, 05865,
      05864

     

     

    2.3.4aUnassociated Document

    EXHIBIT
      10.10

     

    CONTRACT
      OF SUPPLY AND PURCHASE OF ACID OIL

     

    According
      to the Law of Contract of P.R.China and related laws this contract is signed
      on
      August 2, 2006 in Fuqing city in Fujian province between Party A and Party
      B
      through negotiation.

     

    
      	Party
              A:	
              Fujian
                Zhongde Technology Corporation,
                Ltd.

            

    

     

    
      	Address:	
              Fulu
                Industry district, Longtian town, Fuqing city, Fujian province,
                China.

            

    

     

    
      	Legal
              representative:	
              Ou
                Taiming

            

    

     

    
      	Tel:	
              0591
                - 85773387        Fax:    0591
                - 28397168

            

    

     

    
      	Business:	
              Manufacture
                and sale of biodiesel, dimer acid, polyamide
                resin,
                polyamide
                hot-melt adhesive,
                Biofuel, polyamide ink, oleic acid, stearic acid and mono amine
                

            

    

     

    
      	Scale:	
              Produces
                15,000 tons of biodiesel and above chemical products per year, and
                needs
                20,000 tons of waste grease per
                year.

            

    

     

    
      	Party
              B:	
              Fuqing
                Zhongde Waste Oil Collecting Corporation,
                Ltd.

            

    

     

    
      	Address:	
              Shangyi
                village, Longtian town, Fuqing city, Fujian province,
                China

            

    

     

    
      	Legal
              representative:	
              Yang
                Fang

            

    

     

    
      	Tel:	
              0591
                - 85767808        Fax:    0591
                - 85760751

            

    

     

    
      	Business:	
              reclaims
                and sells waste grease

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	Scale:	
              reclaims
                30,000 to 50,000 tons of waste grease per
                year

            

    

     

    
      	1.	
              title
                of the production: Party
                B should provide Party A with all its reclaimed acid oil and Party
                B must
                ensure that all its reclaimed acid oil should first be sold to Party
                A. On
                the condition that the quantity of acid oil meets the needs of Party
                A,
                the left could be sold to other parties.

            

    

     

    
      	2.	
              Quantity
                of supply: Party
                B promises to offer Party A with the following quantity of acid oil
                for
                next two years respectively:
                above 30,000 tons in 2006 above
                50,000 tons in 2007. If Party B does not meet the required need stated
                in
                the contract, Party A has the right to ask for 300,000 RMB for
                compensation. 

            

    

     

    
      	3.	
              Quantity
                and time of the trade: Party
                A should order in written forms 3 months in advance according to
                its
                production and sale, and the time for consignment relies on the time
                stated in the order. 

            

    

     

    
      	4.	
              Price
                of the production:
                directed by the market. Price stated in the contract refers to the
                price
                including price of the acid oil, fee for packing, fee for transport,
                and
                fee for insurance. Both parties agree unit
                price per ton of the acid oil for the second half of 2006 is at most
                3,300
                RMB and
                at least 2,800 RMB unit
                price per ton of the acid oil for the first half of 2007 is at most
                3,000
                RMB and
                at least 2,700 RMB and
                the second half of 2007 is at most 3,300 RMB and
                at least 2,800 RMB.

            

    

     

    
      	5.	
              Packaging:
                all
                products must be packed with 220L barrel without any damage. Net
                weight of
                each barrel should be 180 kg, but the actual quantity is measured
                according to the actual net weight.

            

    

     

    
      	6.	
              Place
                for trading: in
                the corporation of Fujian Zhongde Technology,
                Ltd.

            

    

     

    
      	7.	
              Ways
                of trading: Party
                B is responsible for the transport of the products and security of
                the
                products during transport. Party A should unload the
                products.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	8.	
              Quality
                Standard of Products: Oleaginousness≥88%,
                Acid value≥120mgKOH/g

            

    

     

    C20Ɯ3%,
      PH
      value≥4-6, Not emulsification, layered clearly

     

    
      	9.	
              Regulation
                of check of products: if
                Oleaginousness is below 88%
                or
                C20 is above 3% the
                price for each percent is deducted for the lack of each percent.
                If
                Oleaginousness
                is below 88%,
                Party A has the right to cancel the order, and all expenses for the
                canceling should go to Party B.

            

    

     

    
      	10.	
              Payment
                of trading: the
                account departments of both parties should check the account of last
                month
                at the beginning of this month. If the account is correct, money
                should be
                paid before 20th
                of
                this month.

            

    

     

    
      	11.	
              Responsibility
                for breach:

            

    

     

    
      	
            	1.	
              after
                signing the contract, each party that relieves the contract without
                proper
                reason should give the other party 3% of the undone work for
                compensation.

            

    

     

    
      	
            	2.	
              if
                Party B postpones to carry out the order, it should give Party A
                3‰ of the
                delayed goods for compensation. 

            

    

     

    
      	
            	3.	
              Party
                B should give Party A not less than 2% of the price stated in
                the contract for compensation, if the quality of goods offered
                by
                Party B has a bad effect on the production or process of Party
                A.
                Besides, Party B should pay for all expenses for exchange of
                goods. 

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	4.	
              if
                the counterfeit offered by Party B does not have a bad effect on
                production, Party A may choose to retain the goods with discount,
                but
                Party B should return the balance between the original payment and
                the
                discount.

            

    

     

    
      	12.	
              Change
                or Cancel of the Contract:

            

    

     

    
      	
            	1.	
              any
                change or modify or delete of the contents of the contract should
                be
                agreed and signed in written forms of both parties. Only after the
                authorized person of both parties sign on the changed contract can
                it take
                effective. 

            

    

     

    
      	
            	2.	
              if
                one of the party is not able to pay back debts or it is in the process
                of
                bankruptcy and clearing debts, the other party can cancel the contract
                in
                written forms, and it takes effect once it comes to the bankrupted
                party.

            

    

     

    
      	
            	3.	
              the
                cancel of the contract has no effect on the responsibility for breach
                

            

    

     

    
      	13.	
              Ways
                to solve disputes: If
                there is any dispute, both parties should negotiate. If negotiation
                does
                not work, each party may raise a lawsuit at the local court where
                Party A
                is located.

            

    

     

    
      
        
          	14.	
                  both
                    parties can add supplementary agreements for matters not included
                    in the
                    contract and the supplement has the same legal effect as the
                    contract.
                    

                

        

      

    

     

    
      	15.	
              the
                contract takes effect after representatives of both parties sign
                on
                it.

            

    

     

    
      	16.	
              The
                contract is duplicated and each holding one with the same legal
                effect.

            

    

     

    

     

    
      	Party
              A:	
              Fujian
                Zhongde Technology Co., Ltd 

            

    

     

    Legal
      representative: /s/ Fujian
      Zhongde Technology Co., Ltd,

     

    Date:

     

    
      	Party
              B:	
              Fuqing
                Waste Oil Collecting Co., Ltd

            

    

     

    Legal
      representative: /s/
      Fuqing Waste Oil Collecting Co., Ltd,

     

    Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]