Document:

Asia Green Agriculture Corporation: Exhibit 10.60 - Filed by newsfilecorp.com

Small Enterprise Loan Contract 

 

Notice: This series of contracts regards loans between two
equal parties, legally established based on commercial negotiations. All
contract provisions express the true meaning of both parties. In order to
protect the borrower’s legal rights and interests, the lender specially requests
that the borrower pay close attention to all rights and responsibilities of both
parties, particularly those written in boldface print. 

	Lender: 	China Industrial and Commercial
      Bank, Jianyang Branch 
	Responsible Party: 	Qiu Ansheng 
	Contact: 	Zhang Hanpu 
	Address: 	Jianyang City, Renmin Road #5
  
	Post Code: 	354200 
	Phone: 	5843362 
	Fax: 	5830387 
	Email: 	(blank) 
	  	  
	Borrower: 	Fujian Yaxin Food Co., Ltd.

	Legal Representative: 	Ye Wenfu 
	Contact: 	(blank) 
	Address: 	Jianyang City, Taxia Industrial
      Park 
	Post Code: 	354200 
	Phone: 	13859371468 
	Fax: 	(blank) 
	Email: 	(blank) 

            
The borrower and the lender, through equal negotiations, have come to an
agreement that the lender shall extend to the borrower a loan, for which purpose
this contract is established. 

PART ONE:    BORROWING CONDITIONS 

ARTICLE 1      LOAN USE 

            
Under this agreement, the loan is to be used for financial resources and
materials. Absent the written agreement of the lender, the borrower may not
change its use, and the borrower has the right to supervise the use. 

ARTICLE 2      LOAN AMOUNT AND PERIOD

	 	2.1 	
      Under this agreement, the loan shall be made in RMB, in
      an amount of five million (5,000,000) RMB.

	 	 	 
	 	2.2 	
      Under this agreement, the loan shall be for a period of
      one year, from the date of the actual loan transfer. The date of
      the loan transfer will be determined with reference to the loan
      receipt.

ARTICLE 3      INTEREST RATE AND
INTEREST PAYMENT 

	 	3.1 	
      RMB Loan Interest Rate:

	 	 	 
	 		
      The RMB Loan Interest Rate will be calculated according
      to method 1 below:

	 	(1) 	
      Fixed interest rate, yearly, of 6.941%, which
      shall not change from the effective date of this Contract.

	 	 	 
	 	(2) 	
      Floating Interest Rate: Loan interest rate will be
      determined with reference to base interest rate plus a floating range. The
      base rate will be ______ (as of the Loan Transfer Date/Contract Effective
      Date), and in accordance with clause 2.2, the Loan Period’s corresponding
      base interest rate as established by the People’s Bank of China, floating
      by ____ %. During the Contract Period, this floating range may not be
      changed. After the Borrower has received the Loan, interest will be
      periodically calculated once every _____ (1/3/6/12) months and the rate
      adjusted. The second interest rate period will be dated from the day after
      the first loan period following the loan. If that calendar date does not
      exist, then it shall be dated from the last day of the month, with later
      periods calculated in the same way. The Borrower’s interest rate for sums
      drawn will be adjusted according to method ___
below:

	 	(A) 	
      Regardless of how many times money is drawn in a given
      period, once per period, according to that period’s interest rate, and in
      the same way the following period.

	 	 	 
	 	(B) 	
      Each sum drawn will have its interest rate calculated
      separately.

	 	(3) 	
      Other: (blank)

	 	3.2 	
      Foreign Exchange Loan Interest Rate:

	 	 	 
	 		
      The Foreign Exchange Loan Interest Rate will be
      determined according to method ____ below:

	 	(1) 	
      Fixed interest rate, yearly, of _____, which shall not
      change from the effective date of this Contract.

	 	 	 	 
	 	(2) 	
      Floating interest rate, based on the ____ month
      LIBOR/HIBOR average as base, with _____ basis points added to reach the
      marginal interest rate. During the Contract Period, this margin shall not
      change. Each sum drawn upon will have its interest separately calculated.
      After the Borrower has drawn upon the loan, the base interest rate will be
      adjusted according to method ____ below:

	 	 	 	 
	 		(A) 	
      The base interest rate will float according to its
      corresponding period. The second interest rate period will be dated from
      the day after the first loan period following the loan. If that calendar
      date does not exist, then it shall be dated from the last day of the
      month, with later periods calculated in the same
way.

	 	(B) 	
      The base interest rate will be adjusted from the first
      day of each interest period.

	 	(3) 	
      Other: (blank)

	 	3.3 	
      Under this agreement, interest will be calculated
      starting from the actual date of the borrower drawing upon the loan, and
      settled on a monthly basis. When the loan matures, the principal shall be
      repaid with interest. The daily interest rate will be calculated by
      dividing the yearly interest rate by 360.

	 	 	 
	 	3.4 	
      Under this agreement, the penalty for delayed interest
      payment will be the base interest rate plus 30%; the penalty for misuse of
      the loan shall be the base interest rate plus 50%.

ARTICLE 4      WITHDRAWALS 

            
The Borrower should draw upon the Loan according to his actual needs, with the
first such withdrawal coming no later than April 30th, 2011, and the
final withdrawal coming before April 30th, 2011, otherwise the Lender
has the right to terminate all or a portion of the Loan. 

ARTICLE 5      REPAYMENT 

	 	5.1 	
      Under this agreement, the Borrower shall repay the loan
      according to method 1 below:

	 	 	 	 
	 		(1) 	
      One-time payment upon loan maturity.

	 	 	 	 
	 		(2) 	
      According to the following repayment schedule
      (attached)

	 	 	 	 
	 	5.2 	
      Under this agreement, the Borrower should, in the
      following situations, immediately repay the corresponding investment after
      receiving; because this will lead to early repayment, the Borrower need
      not pay any compensatory fees: _______________.

	 	 	 	 
	 	5.3 	
      Other than situations covered by 5.2 above, if the
      Borrower repays the loan early, the Borrower should pay a compensatory fee
      of ___% for early repayment.

ARTICLE 6      COVENANTS 

	 	6.1 	
      Under this agreement, the Borrower covenants to the
      Lender in following way: deposit.

	 	 	 
	 	6.2 	
      Under this agreement, the highest amount covered by a
      loan covenant corresponds to the following
contract:

	 	Contract Name: 	Highest Deposit Contract (Doc. Number: 2011,
      Jianyang, Number 0024) 
	 	Depositor: 	Fujian Yada Group Co., Ltd.

ARTICLE 7      FINANCIAL CONVENTIONS
(Optional Clause) 

Within the effective period of this
contract, the Borrower should abide by the following financial directions and
conventions: _____________

ARTICLE 8      DISPUTE RESOLUTION 

            
Under this agreement, the following dispute resolution method will be used: 2.

	 	(1) 	
      Disputes will be submitted to _____ for arbitration, and
      according to timely application and applicable principles of arbitration,
      will be arbitrated at _____. The arbitration decision will have binding
      effect on both parties.

	 	 	 
	 	(2) 	
      Litigation in the jurisdiction where the lender is
      located.

ARTICLE 9      MISCELLANEOUS 

	 	9.1 	
      This contract exists in two originals, with the Borrower
      and the Lender each possessing one original, each with equal legal
      effectiveness.

	 	 	 
	 	9.2 	
      The following attachments have been agreed by the Parties
      to constitute part of this Contract and have the same effectiveness as
      this Contract:

Attachment 1: Form of Withdrawal
Notice 
Attachment 2: Entrusted Payment Agreement 

ARTICLE 10   OTHER AGREEMENTS OF THE PARTIES 

	 	10.1 	
      The Borrower may not make promises or covenants to
      another party without the Lender’s prior agreement.

	 	 	 
	 	10.2 	
      The Company shareholders also take responsibility for the
      Highest Deposit Contract (Doc. Number: 2011, Jianyang, Number
  0024).

PART TWO    SMALL ENTERPRISE LOAN CONTRACT
PROVISIONS 

ARTICLE 1      INTEREST RATE AND
INTEREST 

	 	1.1 	
      For foreign currency loans, the LIBOR rate as of 11 AM on
      the day of the withdrawal or two days previous, as calculated based on the
      LIBOR, as reported by Reuters online under the symbol “LIBO”, and the
      HIBOR rate as of 11:15 AM on the day of the transaction or two days
      previous, as calculated based on the HIBOR reported by Reuters online
      under the symbol “HIBO”.

	 	 	 
	 	1.2 	
      Under this agreement, if the floating interest rate is
      used, after the loan is overdue, interest will continue to be calculated
      according to the same method.

	 	 	 
	 	1.3 	
      Interest on the loan will be settled monthly on the
      20th of each month; quarterly interest settlement will be on
      the 20th of the last month of each quarter; twice- yearly
      interest will be settled on June 20th and December 20th
      , respectively.

	 	 	 
	 	1.4 	
      The first interest period starts from the day the first
      actual withdrawal is made by the Borrower and ends on the day of the first
      interest settlement; the last interest period starts from the last
      interest settlement date to the date the loan is repaid; other interest
      periods are from the end of one interest period to the beginning of the
      next.

	 	 	 
	 	1.5 	
      If the People’s Bank of China adjusts the interest rate,
      then according to the relevant rules of the People’s Bank of China, the
      Lender shall adopt the relevant procedures and need not separately notify
      the Borrower.

ARTICLE 2      LOAN ISSUANCE AND
PAYMENT 

	 	2.1 	
      For the Borrower to take the loan, they must satisfy the
      following conditions, otherwise the Lender has no duty to issue any sum,
      unless the Lender agrees to first issue the loan:

	 	 	 	 
	 		(1) 	
      Other than credit loans, the Borrower has already,
      according to the Lender’s request, provided corresponding covenants, and
      all related covenant procedures are completed, and there has been no
      negative change to the covenants to the Lender;

	 	 	 	 
	 		(2) 	
      Each time a withdrawal is made, the Borrower, under this
      Contract, must make true, accurate and complete statements and guarantees
      that no violation has occurred under this or any other Contract between
      the Lender and the Borrower; and

	 	 	 	 
	 		(3) 	
      Borrower must provide materials proving the use of the
      loan conforms to its intended use.

	 	 	 	 
	 	2.2 	
      The Borrower must, in addition to the above-stated
      requirements of 2.1, satisfy the following
conditions:

	 	(1) 	
      The loan project has already received necessary
      government approvals and permits (if applicable);

	 	 	 
	 	(2) 	
      The loan project capital or other capital has satisfied
      the necessary amount in the time period and ratio required;

	 	 	 
	 	(3) 	
      No cost overruns have occurred or any cost overruns have
      been dealt with; and

	 	 	 
	 	(4) 	
      The project has proceeded or been completed according to
      plan, and the project has actually begun with the matching investment
      amount.

	 	2.3	When the Borrower withdraws funds, they should submit a Withdrawal
      Notice to the Lender five bank working days prior to the withdrawal. Once
      the notice is sent, it may not be cancelled without the written approval
      of the Lender. 
	 	 	 
	 	2.4 	
      Once the Borrower has satisfied the above preconditions
      to withdrawal or otherwise received the approval of the Lender, the Lender
      will enter the requested amount into the Borrower’s account, thereby
      issuing the loan to the Borrower according to this Contract.

	 	 	 
	 	2.5 	
      According to relevant supervisory regulations and
      management requests of the Lender, funds should be withdrawn and used
      according to the Lender’s entrusted payment method, and the Lender,
      according to the Borrower’s withdrawal notice and entrusted payment, will
      pay the loan amount to an account meeting conditions under this Contract.
      To this end, the Borrower and the Lender should sign an Entrusted Payment
      Agreement as an attachment to this Contract, and set up an account
      specially to facilitate the entrusted payment.

ARTICLE 3      REPAYMENT 

	 	3.1 	
      Lender shall fully and timely return the principal ,
      interests and other payables in term of the stipulation of this Agreement.
      Borrower shall, on repayment date and every banking day before the expiry
      date for interest, fully deposit the current interest payable, principle
      and other payables in his account for repayment under Lender’s bank.
      Lender is entitled to offer claims or require Borrower to cooperate to
      handle procedures relate to repayment on such repayment date and expiry
      date for interest. If the amount in account for repayment is not enough
      for current payables of Borrower, Lender has the right to decide the order
      of debts liquidation.

	 	 	 
	 	3.2 	
      Borrower shall submit application in written for partly
      or fully voluntary repayment to Lender ten (10) banking days in advance,
      get approval of Lender and pay compensation to Lender in accordance with
      the standards under this Agreement.

	 	3.3 	
      Approved by Lender, Borrower shall pay off all the
      payable principal, interest and other payables in light of the stipulation
      of this Agreement on voluntary repayment date.

	 	 	 
	 	3.4 	
      Lender is entitled to withdraw the funds in advance based
      on the capital inflow conditions of Borrower.

	 	 	 
	 	3.5 	
      If the term of debt is shortened due to the voluntary
      repayment of Borrower or Lender withdrew funds in advance in accordance
      with provisions of this Agreement, the borrowing rate shall not be
      adjusted and is still the same as the original
ones.

ARTICLE 4      GUARANTEE 

	 	4.1 	
      Borrower shall provide true and correct guarantee
      accepted by Lender for its obligation performance under this Agreement. A
      guarantee agreement will be entered into separately.

	 	 	 
	 	4.2 	
      In case of the following matters occurred to collaterals,
      Borrower shall timely report to Lender and provide other collaterals
      accepted by Lender:

	 	(1) 	
      Damages;

	 	(2) 	
      Devaluation;

	 	(3) 	
      Disputes on property right;

	 	(4) 	
      Collaterals are sealed up or seized;

	 	(5) 	
      Guarantee selfishly deals with collaterals;

	 	(6) 	
      Adverse changes to guarantor’s financial position
      happened; or

	 	(7) 	
      Other adverse changes to creditor
  occurred.

	 	4.3 	
      In term of the approval of Lender, if the loan under this
      Agreement which is warranted by pledge with account receivable and the one
      of the following conditions occurred, Lender is entitle to declare that
      the loan comes due immediately, claim for the repayment of all or part of
      principal and interest to Borrower at once or add lawful and valid
      warranties in full that have been accepted by
Lender:

	 	A. 	
      the rate of bad debts of the account receivable from
      pledgor to payer improved for two months in a row;

	 	 	 
	 	B. 	
      the due but unclaimed accounts receivable from pledgor to
      payer is more than 5% of the amount of remaining balance of the account
      receivable;

	 	 	 
	 	C. 	
      trade disputes (including but without limitation disputes
      about quality, technology or service) or debt disputes raised between
      pledgor and payer or third parties so that account receivable may not be
      paid on time.

ARTICLE 5      ACCOUNT MANAGEMENT 

	 	5.1 	
      If the loan under this Agreement is for the needs of
      liquidity like turnover of funds during operation, Borrower shall
      designate a special account for inflow funds under Lender’s bank to gather
      sales revenue or planed repayment funds. Borrower shall transfer the sales
      revenue that settled in non-cash into the account for inflow funds after
      receiving funds.

	 	 	 
	 	5.2 	
      Lender has the right to supervise and control the account
      for inflow funds, including but not limit to know about and supervise the
      revenues and payments of such account, which Borrower shall comply.
      Borrower and Lender shall enter into a special agreement on account
      supervision under the requirements of Lender.

ARTICLE 6      REPRESENTATIONS AND
WARRANTIES 

            
Borrower agrees to make following representations and warranties to Lender which
shall be valid during the term of this Agreement:

	 	6.1 	
      It has legal status of subject for the borrowing and has
      qualification and ability to sign and execute this Agreement.

	 	 	 
	 	6.2 	
      It has received all the needed authorizations or
      approvals to sign this Agreement; its signing and execution of this
      Agreement will not violate company’s article of association, shareholders’
      capital contribution agreement, agreement on association, partnership
      agreement and relevant laws and regulations; it will not conflict with
      obligations under other agreements.

	 	 	 
	 	6.3 	
      Other payable debts have been repaid on time and there is
      no malicious default on paying back principal and interest of bank
      loan.

	 	 	 
	 	6.4 	
      In recent one year of operation did not appear
      significant violations of regulations or discipline; existing officers do
      not have any adverse records.

	 	 	 
	 	6.5 	
      All the documents and materials provide for Lender are
      true, accurate, intact and valid and there do not exist falsehoods, major
      omissions or misleading statements.

	 	 	 
	 	6.6 	
      Did not hide its litigations, arbitrations or claims from
      Lender.

	 	 	 
	 	6.7 	
      Relevant items and the loan shall subject to laws and
      regulations if the loan under this Agreement is for the purpose of fixed
      assets investment.

ARTICLE 7      BORROWER’S PROMISES

	 	7.1 	
      The inflow and usage of the loan shall be subject to the
      term and purpose under this Agreement. The borrowed money shall not inflow
      into securities market, futures market or involve any other usage banned or
  limited by relevant laws or regulations in any forms.

	 	7.2 	
      It will repay the principal, interest and other payables
      in accordance with the stipulations of this Agreement.

	 	 	 
	 	7.3 	
      It will accept and active participate in Lender’s
      inspection and supervision on funds usage in the ways of account analysis,
      certificate inspection, investigate on spot etc. It will report regularly
      on the utilization of borrowed funds under the requirement of
    Lender.

	 	 	 
	 	7.4 	
      It will accept creditor checking of Lender; provide true,
      accurate, intact financial documents and other materials reflecting the
      repayment ability of Borrower, including all opening banks, account
      numbers and deposit balance etc; it will active cooperate with Lender to
      investigate, be informed and supervise the business operation and
      financial situation.

	 	 	 
	 	7.5 	
      It will not distribute dividends and bonus before pay out
      the principal, interest and other payables under this Agreement.

	 	 	 
	 	7.6 	
      When merger, split-up, decrease capital, major changes in
      stock rights, participate in or withdraw from partnership, material
      transfer of assets and credit, material investment aboard, substantial
      increase of debt financing or other actions may cause adverse effects on
      Lender’s rights occur, approvals in written of Lender is needed in
      advance.

	 	 	 
	 	7.7 	
      Borrower has to inform Lender when any of the following
      circumstances occur:

	 	A. 	
      The name, company chops, articles of association, legal
      representative, principal persons or notice address etc.
changes;

	 	 	 
	 	B. 	
      It is closed down, dismissed, liquidated, suspended, its
      business license is revoked or it applies for bankruptcy (or being applied
      for bankruptcy);

	 	 	 
	 	C. 	
      It is involved in or will be engaged in material economic
      disputes, litigations, arbitrations; or its assets is sealed, seized or
      enforced; or it is placed on file for investigation and prosecution or is
      took penalty procedure by judicial organizations, tax administrations or
      industrial and commercial administrations.

	 	 	 
	 	D. 	
      Its shareholders, directors and existing officers or
      shareholders and founders are involved in important cases or economic
      disputes.

	 	7.8 	
      It will accurately and comprehensively disclose relevant
      relationships and relevant transactions to Lender without delay.

	 	 	 
	 	7.9 	
      It will timely acknowledge all kinds of notices sent by
      Lender or delivered in other ways.

	 	7.10 	
      It shall not deal with self-owned assets in the way of
      deducting repayment ability; it will not damage the rights of Lender when
      providing guarantee for third parties.

	 	 	 
	 	7.11 	
      It will afford expenses result from the establishment and
      performance of this Agreement and the paid and unpaid fees of Lender to
      fulfill the creditor’s right under this Agreement, including but not limit
      to fees for litigation or arbitration, Property preservation fees, fees
      for counsel, performance fees, valuation fees, auction fees, publication
      fees etc.

	 	 	 
	 	7.12 	
      Compared with debts for shareholders, legal
      representative or principals, partners, main founders or officers, the
      debt of Borrower under this Agreement shall has priority and such debt
      shall at least equal to the same kind of debts of Borrower’s other
      creditors.

ARTICLE 8      LENDER’S PROMISES 

	 	8.1 	
      It will offer loans to Borrower pursuant to the
      Agreement.

	 	 	 
	 	8.2 	
      It will hold confidential obligations on undeclared
      materials and information about the finances and business operations
      provided by Lender.

ARTICLE 9      BREACH 

	 	9.1 	
      Any of the following events will indicate that the
      Borrower is in breach of this Contract:

	 	 	 	 
	 		(1) 	
      The Borrower fails to pay amounts owed under this
      Contract, or fails to carry out any of its duties hereunder, or violates
      any statement, guarantee or promise hereunder;

	 	 	 	 
	 		(2) 	
      Any change takes place that, under this agreement, has a
      negative effect on the interests of the Lender, for which the Borrower
      does not acquire the approval of the Lender;

	 	 	 	 
	 		(3) 	
      The Borrower is unable to pay any other debt upon its
      maturity (including those declared due) or cannot carry out or violates
      any other responsibilities under this Contract, will or may negatively
      influence the Borrower’s ability to carry out its responsibilities under
      this Contract;

	 	 	 	 
	 		(4) 	
      The Borrower’s earnings power, ability to repay, business
      operation ability, or cash flow and other financials exceed agreed-upon
      standards, or there occurs or may occur an event negatively influencing
      the Borrower’s ability to carry out its responsibilities under this
      Contract;

	 	(5) 	
      The Borrower’s business operations or foreign investment
      suffers a material adverse event that will or may negatively influence the
      Borrower’s ability to carry out its responsibilities under this
      Contract;

	 	 	 
	 	(6) 	
      The Borrower or its shareholders, legal representative,
      responsible party, partner, key investor, key person or key management
      personnel are involved in or may become involved in material economic
      conflicts, litigation, arbitration, or assets are frozen, detained, or is
      subject to enforcement, or such personnel are subject to investigation or
      legal penalty as a result of legal or administrative proceedings, or by
      violating any national regulation or policy exposes national secrets, that
      will or may negatively influence the Borrower’s ability to carry out its
      responsibilities under this Contract;

	 	 	 
	 	(7) 	
      There occurs any change in the shareholders of the
      Borrower or any change in the relationship of the controlling
      shareholders, the partners, or any joint venture, or any partner, key
      investor, key person or key management personnel are changed, are missing,
      or limited in personal freedom or under a legal investigation, that will
      or may negatively influence the Borrower’s ability to carry out its
      responsibilities under this Contract;

	 	 	 
	 	(8) 	
      The Borrower uses a false contractual relationship with a
      related party or a false transactional background, to get the Lender’s
      funds or cause it to extend credit to the Borrower, or the Borrower,
      through a related transaction, intentionally avoids its debt to the Lender
      in an attempt to have the debt cancelled;

	 	 	 
	 	(9) 	
      The Borrower has or may go out of business, dissolve, be
      liquidated, cease operation for reorganization, have its business license
      revoked or cancelled, or apply for (or be applied for)
  bankruptcy;

	 	 	 
	 	(10) 	
      The Borrower, as a result of violating rules on food
      safety, manufacturing safety, environmental protection and related laws,
      regulations or industry standards, be responsible for or cause an accident
      which will or may negatively influence the Borrower’s ability to carry out
      its responsibilities under this Contract;

	 	 	 
	 	(11) 	
      The Borrower’s legal representative, partners, key
      investors, key persons, or key management personnel are involved in
      criminal activities, drugs, gambling, smuggling or related illegal
      activities;

	 	 	 
	 	(12) 	
      The Borrower owes taxes or other fees or falls behind on
      any usual payments, including worker salaries;
and

	 	(13) 	
      Any other occurrence that may negatively influence the
      Lender’s rights under this Contract.

	 	9.2 	
      In the event of Borrower’s breach, Lender may take any of
      the following steps:

	 	 	 	 
	 		(1) 	
      Request that the Borrower correct the violation by a
      certain date;

	 	 	 	 
	 		(2) 	
      According to this and any other contract between the
      Lender and the Borrower, cancel a portion or all of the loan which the
      Borrower has not yet withdrawn;

	 	 	 	 
	 		(3) 	
      Declare any sums owed under this and any other contracts
      between Borrower and Lender to be immediately due;

	 	 	 	 
	 		(4) 	
      Request the Borrower repay any losses sustained as a
      result of the breach; and

	 	 	 	 
	 		(5) 	
      Any other measures permissible under relevant laws and
      regulations and viewed as necessary by the Lender.

	 	 	 	 
	 	9.3 	
      When the loan matures (including when it has been
      declared immediately due) and the Borrower cannot repay it, the Lender
      may, from that day, begin to collect interest at a penalty rate, as set
      out in this Contract. Interest not timely repaid by the Borrower may be
      recovered through the penalty interest rate.

	 	 	 	 
	 	9.4 	
      If the Borrower misuses funds loaned under this Contract,
      the Lender may, from the day the Borrower began the violation, collect
      penalty interest on the portion so misused, including interest on the
      misused portion at a penalty interest rate.

	 	 	 	 
	 	9.5 	
      If the situations contemplated by clauses 9.3 and 9.4
      above simultaneously occur, the penalty interest rate may only be applied
      to one of the violations.

	 	 	 	 
	 	9.6 	
      If the Borrower cannot timely repay the loan principal,
      interest (including penalty interest) or other sums owed, the Lender may
      publicly declare them to be in arrears.

	 	 	 	 
	 	9.7 	
      If any change in the control relationship between the
      Borrower and any related party occurs, or any situation other than those
      contemplated by 9.1 (1) and (2) above occur to a related party of the
      Borrower, which will or may negatively influence the Borrower’s ability to
      carry out its responsibilities under this Contract, the Lender may take
      any measures contemplated by this Contract.

ARTICLE 10   COLLECTIONS 

	 	10.1 	
      If the Borrower does not, in accordance with this
      Agreement’s expiration, repay all debts (including where immediate
      expiration has been announced), the Lender will have the right to collect the owed sum from foreign
      currency accounts opened by the Borrower with the Lender or any other
      branch of the Industrial and Commercial Bank of China, until the amount
  owed by Borrower under this agreement has been repaid.

	 	10.2 	
      Funds collected in currencies different than in this
      Contract

	 	 	 
	 	10.3 	
      If funds collected by the Lender do not satisfy the
      amount owed by the Borrower, the Lender will have the right to decide the
      priority for creditors.

ARTICLE 11   TRANSFER OF RIGHTS AND RESPONSIBILITIES

	 	11.1 	
      The Lender has the right to transfer part or all of its
      rights to a third party without the agreement of the Borrower. Without the
      written agreement of the Lender, the Borrower may not transfer any of its
      rights under this Agreement.

	 	 	 
	 	11.2 	
      The Lender, or the Industrial and Commercial Bank of
      China (“ICBC”) may, according to business needs, empower or entrust, or
      allocate to another branch of ICBC the rights and responsibilities of this
      Contract. The Borrower hereby expresses agreement, and the Lender need not
      receive the Borrower’s further agreement to any of the above actions. The
      ICBC branch receiving the Lender’s rights and responsibilities shall have
      the right to pursue litigation, submit matters to arbitration, and apply
      for compulsory enforcement of this Contract.

ARTICLE 12   EFFECTIVENESS, AMENDMENT, AND
TERMINATION 

	 	12.1	
      This Contract is effective as of the date it is signed
      and remains in force until the day all of Borrower’s responsibilities
      under this Contract are complete and terminated.

	 	 	 
	 	12.2	
      Any amendment to this Contract requires negotiation
      between the parties and should be expressed in writing. Any amendment
      provisions to this Contract are a part of the Contract, and this Contract
      retains the same legal effectiveness. Non- amended provisions remain
      effective. Prior to amendment, provisions to be amended remain
      effective.

	 	 	 
	 	12.3	
      Amendments to or deletions from this Contract shall not
      affect the previously concluded right of each party to ask for
      compensation for losses. Deletions from this Contract shall not affect the
      effectiveness of Dispute Resolution provisions.

ARTICLE 13   LEGAL USE AND DISPUTE RESOLUTION 

            
This Contract’s establishment, effectiveness, explanations, performance and
dispute resolution shall be in accordance with the laws of the People’s Republic
of China. All disputes arising from or under this Contract should first be
discussed between the Parties; disputes not capable of being resolved between
the parties should be resolved in the appointed manner. 

ARTICLE 14   ENTIRE CONTRACT 

            
This Contract, including both part one (Loan Conditions) and part two (Small
Enterprise Loan Contract Provisions), is a single complete loan contract.
Identical language used in both parts has the same meaning in each.

ARTICLE 15   NOTICE 

	 	15.1 	
      Under this Contract, all notices must be in writing.
      Other than those agreed upon, all notices must be sent to the notice
      addresses of both parties. Any change in the notice address of either
      party must be communicated in writing to the other party.

	 	 	 
	 	15.2 	
      In the event either side refuses to receive notice or any
      other event preventing delivery of notice occurs, notice may take the form
      of a notary or public notice.

ARTICLE 16   OTHER MATTERS AGREED

	 	16.1 	
      Failure or incompletion or delay of exercise of any right
      under this Agreement by the Lender shall not constitute a waiver or
      variation, or affect the further exercise of the right or any other
      right.

	 	 	 
	 	16.2 	
      Should any provision under this Agreement prove to be
      invalid or unenforceable, the validity and enforceability of the other
      provisions under this Agreement, or the effectiveness of the entire
      Agreement.

	 	 	 
	 	16.3 	
      Lender has the right to provide credits information
      related to this Agreement, or of Borrower for the credit information
      database of People’s Bank of China, and other credit information database
      constituted by law. The information is open to organizations and
      individuals appropriately qualified to search queries and use. Lender is
      entitled to look for credit information of the Borrower regard to the
      aforesaid databases and other credit information database constituted by
      law for the purpose of the establishment and performance of the
      Agreement.

	 	 	 
	 	16.4 	
      The terms “Related Party ”, “Relation of Related Party”,
      “Related Party Transactions”, “Main Individual Investor”, “Key Managerial
      Personnel” referred in this Agreement shall have the same meaning as they
      are mentioned in the “Enterprise Accounting Standards No. 36 – Related
      Party Disclosure” (Finance and accounting [2006] No. 3) decreed by
      Ministry of Finance and its revisions thereafter.

	 	 	 
	 	16.5 	
      The documents and vouchers in respect of the Agreement
      made and preserved by the Lender under its business rules that constitutes
      valid evidence of the rights and liabilities between the Lender and the
      Borrower shall be binding on the Borrower.

	 	16.6 	
      Under this Agreement, (i) all references to the Agreement
      shall include the modification and extension to this Agreement, (ii)
      headings of provisions are inserted for reference only and shall not
      constitute any interpretation of this Agreement or any restrictions to the
      content and scope under the headings, (iii) in the process of the
      implementation of this Agreement, should any draw or due date be a
      non-banking business day, it shall postpone to next banking business
      day.

            
Both Parties affirm: the Lender and the Borrower have conducted a full
consultations on all the provisions under this Agreement. The Lender has called
the Borrower’s special attention on all the provisions related to the rights and
liabilities of both Parties to gain a comprehensive and accurate understanding,
and has given specific explanations on the provisions at the requests of the
Borrower. The Borrower has carefully read and fully understand all the
provisions under the Agreement (including Part 1 “Loan Conditions” and Part 2
“Small Enterprise Loan Contract Provisions”). Both Parties have a consistent
understanding to the provisions under this Agreement and are unanimous in the
content of the Agreement.

Lender (seal): Industrial and Commercial Bank of China Limited.
Jianyang Branch 

Principal/Authorized Agent: __________________

  

Borrower (seal): Fujian Yaxin Food Development Co., Ltd. 

Legal Representative/Authorized Agent:
______________________

  

Signing Date: April 6, 2011Asia Green Agriculture Corporation: Exhibit 10.61 - Filed by newsfilecorp.com

Maximum Liquid Fund Loan Contract

Contract No.: (2011)Yin Ye Bu No.3 

Borrower: Fujian Yaxin Food Co., Ltd. (福建亚鑫食品开发有限公司)

Lender: Jianyang City Rural Credit Cooperative Union
Business Department (建阳市农村信用合作联社营业部)

Pursuant to relevant China laws and regulations and based upon
full consultations with each other, Lender and Borrower hereby agree to enter
into this Contract. 

ARTICLE 1    LENDER AGREES TO PROVIDE A LOAN TO BORROWER AS
FOLLOWS: 

May 5, 2011 to May 4, 2012, Lender separately offers Borrower
loan within the balance of maximum amount of RMB (In words) Two Million
based on the need of Borrower and the possibility of supplying the money by
Lender. If any maximum guarantee exists for the loans under this Contract, the
aforementioned period shall be the term decided according to the maximum amount
credit. Use of loan limited to raw material purchase. The amount, use, term,
rate and method of repayment of each loan shall be in line with the receipt for
such loan. If Borrower need extend period, it shall file written application to
Lender in advance and conclude extend period agreement by the consent of Lender.

ARTICLE 2    INTEREST RATE OF THE LOAN, PENALTY INTEREST RATE

1. The interest of the loan under this Contract is calculated
on a per month basis in accordance with the section (1) as follows: 

(1) Fixed rate, which is 10.908 ‰. 

(2) Floating rate, shall be the benchmark rate at the
corresponding level ___ (plus/ minus) __%(the benchmark rate at
the date of contract conclusion is , the implementation rate is ). If there is
benchmark rate adjustment, the date for adjusting rate shall be determined by
the first method: 1. the first day of implementation of the new benchmark after
benchmark rate is adjusted by People’s Bank of China. 2. the next
(month/quarter/year) of adjustment of benchmark rate. 3. other method:
. 

2. Penalty interest rate 

(1) In the event that Party A does not use the Loan in
accordance with this Contract, the penalty interest rate will be the interest
rate of the Loan plus 100% from the date of contract breach, or
calculated the interest at ____ (interest rate per day/per month/ per annum).
(When the Bank of China adjusts the interest rate, such interest rate shall
govern.) 

After the extension of the loans, when Borrower does not use
the loans in compliance with the Contract, Borrower shall be charged interest at
100% of the interest rate after such loan extension.

(2) The penalty interest rate of the overdue loan will be
charged from the first overdue date, and the penalty interest rate shall be the
interest rate of the loan plus 50%, or calculated at ____ (interest rate
per day/per month/ per annum). (When the Bank of China adjusts the interest
rate, such interest rate shall govern.) 

In the event of an overdue loan after the extension, a penalty
interest shall be collected at the interest rate after the extension of the loan
plus 50% from the first overdue date. 

(3) If Borrower fails to repay the interest in time, such
overdue payment of the interest will be charged at the penalty interest rate for
an overdue loan. 

3. The benchmark interest rate is the loan interest rate of the
corresponding period and level announced and implemented by the Bank of China.
If the People’s Bank of China does not announce the loan interest at the
corresponding time and level, the benchmark interest rate will be the loan
interest rate recognized by inter-banks or at the usual and corresponding time
and level on the adjusting date, unless both Parties agree otherwise. 

4. The implementation rate of this contract will adjusts based
on benchmark rate announced by People’s Bank of China, Lender will not notice
Borrower on this. 

ARTICLE 3    ISSUANCE OF THE LOAN 

Lender will issues loan when the following conditions are
satisfied: 

1. Borrower provides such materials that can prove Borrower’s
use of loan satisfied the Lender’s requirements, such as business contract. 

2. Guarantee procedure has been completed by the Guarantor, and
relevant insurance has been provided to covering any mortgaged or pledged
properties if needed. 

3. other conditions Lender request. 

ARTICLE 4    PAYMENT OF THE LOAN 

Payment method of each loan as following: 

1. Payment of Lender as authorized: according to Borrower’s
withdrawal application and payment authorization, Lender pays the loan to
Borrower’s trade party which satisfy the use requirements of loan though
Borrower’s account. 

2. Autonomous payment of Lender: according to Borrower’s
withdrawal application, Lender pays the loan to Borrower, and Borrower pays to
trade party which satisfy the use requirements of loan though its own account.

Payment method of loan refer to “application of loan payment”
with the approval of Lender. 

ARTICLE 5    SUPERVISION OF FUND AFTER PAYMENT 

Lender shall opens specialized fund inflow account, and
provides Lender with fund inflow and outflow information of this account. The
fund inflow account under this contract is: 

Account No:___________________________

Opening Bank:_________________________

The loan fund used in Borrower’s business activities shall
settled though this account. 

ARTICLE 6    METHOD OF REPAYMENT 

1. Method of repayment under this contract can the
second as followings: 

(1) Repay the principal along with the interests thereon at the
due date. 

(2) Repay the interests per month/quarter and the principal at
the due date , and the settlement date of interests shall be the twentieth day
of each month. If the last time of interests repayment is not the settlement
date, the unpaid interests shall repay along with Principal. 

(3) installment repayment, repay the principal and interests
thereon per quarter/ months, repayment date shall be the twentieth
day/corresponding date of loan of each quarter or last month of one period. If
there is no corresponding date of loan, the last day of each quarter or last
month of one period shall be the repayment date. Formula of installment
repayment as followings: 

1. Equal Amount Repayment of Principal and Interests 

                                              Total
Principal × period rate × (1+ period rate)periods 
Amount of Each
Period=
________________________________________
                                                                        
(1+ period rate)periods-1 

2. Equal Amount Repayment of Principal and Decrease Amount
Repayment of Interests 

                                               
Total Principal 
Amount of Each Period= ______________+(Principal-Principal
has been repayed)× period
rate 
                                                    
Periods 

Borrower shall deposit enough money for repaying the principal
and interest into the designated account prior to each repayment date. Credit is
authorized to collect the loan principal and interest directly from such
account. In the event of insufficient money in the account to pay off the loan
in certain period, Lender is authorized to decide whether to collect the
repayment. If Lender decides not to collect the repayment, the principal and
interest in the period will be deemed overdue. If the Lender decides to collect
the repayment, the balance of the principal and interest shall be regarded
overdue. In the course of performing the Contract, Borrower request to change
the designated account, Borrower shall obtain Lender’s consent. 

ARTICLE 7    PRE-REPAYMENT OF LOAN 

If Borrowe decides to prepay such the loans, Borrower shall
obtain Lender’s consent in advance. Lender will charge Borrower the interest in
accordance with the first method as follows: (1) Collection of the
interest in accordance with the term and the interest rate as agreed in the
Contract. (2)Collection of the interest in line with the actual term of the loan
and the interest rate as agreed in the Contract. The penalty of breaching the
Contract shall be also charged at amount of prepayment*____ (number of
days)*0.01%. 

ARTICLE 8    RIGHTS AND OBLIGATIONS OF BORROWER 

1. Borrower is authorized to receive and use the loan in
accordance with the Contract.

Borrower agrees that it is not allowed to change the use of the
loan without a written consent from Lender. 

2. Fulfillment the debt in accordance with the Contract. 

3. Provision of authentic, integrated and effective financial reports quarterly (month/quarter), loan fund using records and material, and other material Lender required. 

4. Acceptance of examination and supervision by Lender regarding Borrower’s production and operation, financial activities, use of loans and so on. Coordination with Lender’s loan payment management, after-payment management and relevant
examination. 

5. Borrower and its investors cannot maliciously transfer any asset, withdrawal capital, and arbitrarily transfer any equity interest so as to avoid the debt under the Contract. 

6. Borrower shall inform Lender in advance in writing regarding any guarantee provided by Borrower for itself or for any third party. The guarantee shall not affect the realization of the credit. Borrower is not allowed to provide a guarantee to any
third party by means of using the amount under the Contract in the form of a loan. 

7. Borrower shall inform Lender ten (10) days in advance in advance in writing when Borrower prepares to change its name, legal representative, articles of association, residence, business scope, registered capital and son on. 

8. Borrower shall inform Lender thirty (30) days in advance in writing prior to conducting any contract, lease, association, equity reform, merger, spin-off, assets transfer, foreign investment, and alternation of business operation due to other
reasons or change of equity structure. Borrower shall not perform the above activities unless it obtains Lender’s consent and put the repayment of debt into practice. 

9. Any other event that may materially disadvantage the business operation of and fulfillment of the Contract by Borrower besides the above activities of Borrower, such as termination, suspension, de-registration, revocation of business license, the
legal representative or person-in-charge’s engagement in illegal activities, involvement in significant litigations or arbitrations, serious hardship of production and operation, deterioration of financial status, serious cross default and so
on, Borrower shall inform Lender in writing in a timely manner as well as put measures recognized by Lender of credit guarantee into practice. 

10. In the event that the guarantor is undergoing a termination, suspension, deregistration, revocation of business license, bankruptcy, loss of business, partial or whole lack of the capacity of guaranteeing the loan under the Contract, or that the
properties under the mortgage (pledge) to guarantee the loan under the Contract is destroyed, lost, less valuable, confiscated (expropriated) or any other events that will affected the Lender’s rights to the guarantee, Borrower shall provide
and fulfill relevant guarantee measures as required by Lender. 

11. Borrower shall burden relevant legal services fee, insurance, transportation, evaluation, registration, safeguard, appraisal, notary fees and son. 

12. Borrower certifies that Lender has the right to collect the loan in advance according to Borrower’s fund inflow situation. 

13. Borrower certifies that it has independent capacity for civil rights and capacity for civil conduct or capacity for civil rights and capacity for civil conduct of signing and performing this contract on authority. 

ARTICLE 9    RIGHTS AND OBLIGATIONS OF LENDER 

1. Lender is authorized to require Lender provide relevant information of production and operation, financial and accounting statements and other materials so as to examine and supervise the business operation, financial activities, use of the loan
of Borrower. 

2. Lender (or entrust other banks and breaches) is allowed to collect any repayment due in accordance with the Contract from any account of Borrower. (This agreement will be deemed that Borrower has vested in Lender such collection right and no
further power of attorney is required.) 

3. Lender is entitled to supervise fund inflow and outflow situation of capital inflow account under this contract. Lender has right to collect loan in advance or ask for additional insurance and so on if it find out abnormal inflow or outflow of
the account and significant early warnings, such as Borrower’ operation, management, finance and capital flow. 

4. Adequate and timely issuance of the loan to Borrower except for reasons shall not be attributed to Lender. 

5. Lender shall keep any trade secret of Borrower confidential, except that Lender uses such trade secret for internal purpose or as required by national laws. 

6. Lender is entitled by laws and regulations and provision of this contract to participate large amount of financing, assets sales and M&A, division, shareholding reform and bankruptcy liquidation of Borrower, to protect Lender’s right of
credit. 

7. Lender has right to supervise, manage and control the loan fund. If the payment is as authorized, Lender can exam the withdrawal application filed by Borrower and certificate material of use of loan in according with the actual use or not. If
payment is autonomous, Lender has right to check whether loan payment is satisfied the agreed use or not through account analysis, certificate exam, filed investigation and so on.

8. During the process of payment, Lender has right to change conditions of loan payment, ask for additional guarantee, announce acceleration of maturity or suspend payment of loan fund if the following situation occurs: (1) credit status descent;
(2) financial indicator deterioration; (3) abnormal use of loan fund; (4) contract breach because of avoiding authorized payment by breaking up the whole into parts; (5) providing false material about use of loan to avoid payment examination by
Lender; (6) If the payment is autonomous, Borrower does not provide Lender with fund payment regularly as agreed; (7) Borrower uses liquid fund loan in real assets investigation, equity investigation and the manufacturing and operating filed or use
forbidden by the government; (8) any other illegal payment. 

Article 10   Liability for Breach of Contract 

10.1 Each party shall, upon the effectiveness of this contract, perform its own obligations as agreed upon. Any party who fails to perform or fully perform the obligations under this contract shall be liable to the other party for the breach of this
contract. 

10.2 In the event that Lender fails to go through the procedures to withdraw the loan pursuant to the Agreement and causes losses to Borrower, Lender shall pay penalties to Borrower based on the breach amount and days of delay. The breach amount
shall be calculated the same as the calculation of overdue loans interest in corresponding period. 

10.3 If Borrower fails to repay loan on the date agreed in this Agreement or on the advanced due date declared by Lender, Lender is entitled to collect the delay penalty calculated at the interest rate set forth in Article 2 of this Agreement. 

10.4 If Borrower uses the loan for purpose other than as agreed in this Agreement, Lender shall be entitled to cease providing the loan, demand Borrower to repay the loan, or rescind this Agreement. Meanwhile, Lender shall be entitled to collect the
default interest pursuant to the calculated way set forth in Article 2 for the default use of the loan. 

10.5 Lender is entitled to collect compound interest to the accrued interest in term of the regulations of People’s Bank of China. 

10.6 If Borrower violates the provisions under this Agreement, Lender has the right to require Borrower to correct within time limits, cease providing the loan, demand to repay the loan in advance, declare immediately due of other loans under
agreements between Borrower and Lender or adopt assets preservation measures. 

10.7 If Borrower uses or withdraw the loan for purpose other than as agreed in this Agreement, or provides false information or open private account, collude with merchants to arbitrage the loan funds supposed to pay to transactional objects, Lender
shall be entitled to adopt any or more of the following measures: collect __% of the arbitraged funds as penalties; cease providing the loan; demand repayment of the loan in advance; declare immediately due of other loans under agreements between
Borrower and Lender; adopt other assets preservation measures. 

10.8 Where any guarantees violates the provisions under this Agreement, Lender has the right to cease providing the loan, demand to repay the loan in advance, declare immediately due of other loans under agreements between Borrower and Lender or
adopt assets preservation measures. 

10.9 Due to the breach of contract by Borrower that Lender adopts litigation or arbitration to achieve creditor’s rights, Borrower has to afford the counsel fees, traveling expense and other fees to achieve such creditor’s rights paid by
Lender. 

Article 11   MISCELLANEOUS 

11.1 Lender has the right to provide credits information of
Borrower for the basic individual credit information database of People’s Bank
of China, basic enterprise credit information database and the database approved
by administration departments of credit information. 

Lender is entitled to look for credit information regard to the
aforesaid databases and the relevant units, departments and persons thereof. The
usage of reports through inquiry shall pursuant to Interim Measures for the
Administration of the Database of Individual Credit Information and Interim
Measures for the Administration of the Database of enterprise Credit Information
released by People’s Bank of China. 

11.2 The modification of contact information of Borrower shall
be noted to Lender in written form within ten days. Otherwise, usage of the
original contact information by Lender shall be deemed to be sufficient for
notice. 

11.3 The guarantee of the loan under this Agreement is general
collateral guarantees. Further details please refer to the Maximum Amount
Mortgage Contract (Business Department 2011 No.03-1) and the Maximum Amount
Guarantee Contract (Business Department 2011 No.03-2). 

11.4  N/A

ARTICLE 12   DISPUTE RESOLUTIONS

Any dispute arising in the performance of this Agreement shall
be settled through negotiation. In case that no settlement can be reached
through negotiation, the disputes shall be settled by the first method as
follows. 

A. Litigation. The jurisdiction will be the People’s Court in
the place where the Mortgagee domiciles.

B. Arbitration. Submitting
to   N/A     Arbitration
Commission for arbitration in accordance with the arbitration rules thereof.

During the process of litigation or arbitration, the provisions
that are not in dispute shall continue to be implemented. 

ARTICLE 13

This Agreement shall come into force upon the signing of both
the Lender and the Borrower. 

ARTICLE 14

This contract shall be prepared in four (4) copies. Each of the
Borrower, the Guarantee will hold one copy. And the Lender will hold one copy.

ARTICLE 15   DECLARATIONS

15.1 The Borrower is familiar with the business scope and
authority limitations of the Lender. 

15.2 The Borrower has read all the provisions under this
contract. The Lender has been given specific explanations on the provisions
under this Agreement at the request of the Borrower. 

The Borrower has fully understood the meaning and corresponding
legal consequences of the provisions under this Agreement. 

Borrower: Fujian Yaxin Food Development Co., Ltd.
(Signature/Seal) 
Legal Representative: (Signature) 
Authorized Agent:
(Seal) 

Lender: Business Department of Jian Yang Rural Credit
Cooperation (Official Seal) 
Legal Representative: (Signature) 
Authorized
Agent: (Seal) 

Date of Signature: May 5th, 2011 
Location of Signature:
Business Department of Jian Yang Rural Credit Cooperation 

Maximum Amount Mortgage Contract 

Fujian Rural Credit Cooperation 

Contract No.: Business Department 2011 No.03-1 

Mortgagee: Business Office of Jian Yang Rural Credit
Cooperation 
(Hereinafter referred to as the “Mortgagee” or the
“Creditor”) 

Mortgager: Fujian Yaxin Food Development Co., Ltd.)

(Hereinafter referred to as the “Mortgager” or the “Debtor”)

(Individually the “Party”, or collectively, the
“Parties”) 

With a view to ensuring execution of the Maximum Amount Loan
Contract (hereinafter referred to as the “Master Contract” numbered
Business Department 2011 No.03) signed by and between the Mortgagee and
Fujian Yaxin Food Co., Ltd., the Mortgager provides mortgage guarantee
for the Mortgagee’s rights based on the Master Contract. Both Parties hereby
conclude this Contract after negotiations and pursuant to the relevant laws of
China. 

ARTICLE 1    GUARANTEED PRIMARY CREDIT AND THE MAXIMUM AMOUNT

1.1 Mortgager voluntarily provides a guarantee for the
following primary credit formed between the Mortgagee and the Mortgager and the
maximum principal amount of the credit guaranteed is RMB 2,000,000 (in words:
RMB TWO MILLION YUAN): 

A. The credit formed under any agreed business between the
Mortgagee and the Debtor shall be from May 5, 2011 to May 4, 2012.
Such period is the determined term for the maximum guarantee mortgage. The
aforementioned businesses include (identified with “√”): 

RMB/Foreign currency 
Decrease and
Exemption of Cash Deposit Certificate 
Export Packing Loan 
Discounting of
Commercial Bills 
Import Bill Advance 
Bank Guarantee
 Bank Acceptance
(deduction of deposit) 
Export Bill Advance 
Other Business:
______________________________________

B. Type, amount, rate and term of each transaction guaranteed
by the Mortgager shall be subject to relevant legal documents or certificates.

C. Within the period of and the maximum balance of this
Contract, it is not necessary for the Mortgagee to handle guarantee procedures
when the Mortgagee issues loans under this Contract or provides credits of other
banks. 

ARTICLE 2    SCOPE OF MORTGAGE GUARANTEE 

Maximum mortgage guarantee provided by Mortgager covers the
principal, interests, penalty interests, liquidated damages, loss damages as
well as the costs for enforcing the mortgage rights and other fees (including
but not limited to litigation costs, arbitration fees, property preservation
fees, attorney’s fees, business trips fees, execution fees, evaluation fees and
auction fees) under the Master Contract. 

ARTICLE 3    COLLATERAL 

3.1 The Mortgager agrees to provide guarantee of assets listed in the List of Collateral attached hereto as Appendix pursuant to the credit entitled by the Mortgagee. The effect of the Mortgagee’s rights shall be extended to the natural
and legal fruits of the collateral, appurtenances, substitutes of the collateral, and other assets and rights regulated by laws (collectively, the “Collateral”). 

3.2 The Mortgager promises that, in accordance with laws, the ownership or disposition of the Collateral is integrated and it not exist any situation that the Collateral is sealed, detained, supervised or in the dispute over the ownership and so on.
No dispute or limitation exists when the Mortgagee disposes the Collateral. 

3.3 Once the Collateral has completely or partly leased or mortgaged before signing this Contract, the Mortgager shall notify the Mortgagee in a written form in advance. 

3.4 Provisions in the List of Collateral for the value of the Collateral will not be deemed as the valuation basis at the time of its disposal by the Mortgagee of the Collateral, and without any limitation on the Mortgagee’s exercise of
its mortgage rights. The terminal value of the Collateral shall be subject to the net income of disposal of the Collateral when fulfilling mortgage. 

3.5 The Mortgager has obtained the consent of the co-owners of the Collateral on the collateral matters under this Contract.

ARTICLE 4    SEVERABILITY 

The effect of this Contract is independent with the Master Contract. The completely or partial invalidity of the Master Contract will not affect the performance of this Contract. Once the Master Contract is declared to be invalid, the Mortgager
shall still be liable for any debt incurred in the course of returning assets or compensating for the loss by the Debtor. 

ARTICLE 5    INSURANCE OF THE COLLATERAL 

The Collateral under this Contract shall be insured (be insured/not be insured). If the Collateral shall be insured, relevant matters of the insurance shall be subject to the following agreement: 

During the existence of the mortgage, the Mortgager shall complete the procedures of the Collateral’s insurance in accordance with the kind and premium specified by the Mortgagee and shall not break off or cancel the insurance for any reason.
Once the term of the insurance expires and the debt under the Master Contract has not been repaid yet, the Mortgager shall complete the procedures to renew the insurance. 

During the existence of the mortgage, the original insurance policy shall be kept by the Mortgagee. The Mortgager shall require the insurer to note on the insurance policy that the Mortgagee shall be the person with the first priority (the first
beneficiary). If the Collateral has been insured without noting the information of the person who enjoys the priority of compensation, the Mortgager shall note or modify that the Mortgagee shall be the person with the first priority. 

When a claim arises, the Mortgager shall notify the Mortgagee within two (2) days and be in charge of the claim indemnity. The insurer shall pay the insurance benefits to the account designated by the Mortgagee directly and shall be executed
according to the provision in ARTICLE 9. 

ARTICLE 6    SAFEKEEPING OF THE COLLATERAL 

During the existence of the mortgage rights, the Mortgager has
the obligation of safekeeping the Collateral and accepting the inspection by the
Mortgagee at any time. Once the Mortgager causes any value reduction, impairment
or loss of the Collateral, the Mortgager shall notify the Mortgagee within three
(3) days in a written form. The Mortgagee is entitled to require the Mortgager
to resume the value of the Collateral within fifteen (15) days or provide the
guarantee equivalent to the impaired value. 

ARTICLE 7    COMPENSATION FOR DAMAGES OF THIRD PARTY 

During the existence of the mortgage rights, the Mortgager
shall notify the Mortgagee of any damage, loss or expropriation of the
Collateral caused by third parties within three (3) days in a written form. The
compensations or damages shall be paid to the account designated by the
Mortgagee directly and shall be executed according to the provision in ARTICLE
9. 

The remainder of the value of the Collateral shall continue to
be used to guarantee the primary credit under the Master Contract. The Debtor
shall provide a guarantee when the foregoing insurance damages, compensations or
the remaining value of the collateral fail to guarantee or pay off the balance
of the debt under the Master Contract. 

ARTICLE 8    THE DISPOSAL OF THE COLLATERAL 

During existence of the mortgage rights, it is prohibited for
the Mortgager to dispose the Collateral by means of transferring, leasing,
shifting the Collateral or in other manners to dispose the Collateral without
the written approval of the Mortgagee. The gains from the disposal of the
Collateral by the Mortgager with the approval of the Mortgagee shall be executed
according to the provisions in paragraph 9.1, 9.2 and 9.4 of ARTICLE 9. 

ARTICLE 9    DISPOSAL OF GAINS 

The Mortgagee has the right to choose one of the following ways
to dispose the gains from disposal of the Collateral, the insurance damages and
compensations relating to the Collateral: 

A. Paying off (or in advance) the debt or relevant fees under
the Master Contract; 

B. Transferring the gains into deposits and pledging the
deposits receipt so as to guarantee the debt under the Master Contract;

C. Recovering the value of the Collateral; 

D. Depositing the gains with a third party designated by the
Mortgagee.

ARTICLE 10   TRANSFER OF CREDIT 

Before the determination of the credit guaranteed by the
maximum amount mortgage under this contract, it is valid for the Mortgagee to
transfer right its credit partly. 

ARTICLE 11   DETERMINATION OF THE GUARANTEED CREDIT 

The credit to the maximum amount mortgage shall be determined
in any of the following circumstances: 

A. The terms to determine the rights expire. “The terms to determine the rights expire” contains the events set forth in ARTICLE 1 and the circumstances when the Mortgagee declares in advance that the term of the determination of
the credit expires in accordance with national laws or provisions under this Contract. 

B. It is impossible for a new credit to occur. 

C. The Debtor or the Mortgager is declared bankrupt or void. 

D. The Collateral is seized or sequestrated. 

E. Others circumstances of the determination of the credit stipulated by law. 

ARTICLE 12   REALIZATION OF MORTGAGE RIGHT 

12.1 The Mortgagee is entitled to implementing the mortgage rights in any of the following circumstances via an auction, sale or agreement of disposing the Collateral at a discount price with the priority of compensation. If the gains are unable to
pay off the credit guaranteed under the Contract, the Mortgagee is allowed to choose to pay off the principal, interest, penalty or other fees via such gains: 

A The Mortgagee has not accepted the pay off when the disposal term of any debt under the Master Contract expires. “The terms expire” contains that the disposal term of the debt under the Master Contract expires and the circumstances
when the Mortgagee declares in advance that the disposal term of debt expires in accordance with national laws or provisions under this Contract. 

B The People’s Court accepts the bankruptcy petition from the Debtor and the Mortgager or verdicts a settlement. 

C The Debtor or the Mortgager’s business license is revoked or it is voided, or the Debtor or the Mortgager is involved in business closure or other matters leading to a dissolution; 

D The Debtor or the Mortgager is dead or declared as missing or dead. 

E The Collateral is attached, sequestrated, supervised or other enforcement measures are taken. 

F The Mortgager dose not recover the value of the Collateral or provide corresponding guarantee in accordance with the requirement of the Mortgagee. 

G The Mortgager breaches this contract. 

H Other serious situations affect the realization of credit. 

12.2 If the credit under this Contract is guaranteed by more than one collateral, the Mortgagee is entitled to excising guarantee rights based on any collateral or multiple collaterals. No matter whether the Mortgagee enjoys other credit (including
but not limited to guarantee, mortgage or pledge) under the Master Contract, the Mortgagee is entitled to requiring the Mortgager to be liable for the guarantee directly. 

12.3 If the Debtor provides property securities for the guaranteed credit under this Contract at the same time, when the Mortgagee gives up this guarantee right, the priority of this guarantee right changes or this guarantee right modifies, the
Mortgager agrees to provide a guarantee for the credit under the Master Contract and consecutively be subject to this Contract. “This
guarantee right” refers to the guarantee right forms under the Master Contract
by the Debtor’s provision of property securities for the credit. 

12.4 The responsibilities of guarantee by the Mortgager shall
not be reduced or exempted if the Mortgager conducts a contract, lease, joint
operation, shareholding reform, merger, spin-off, change of name or capitals, or
modification of the operation management or equity structure due to other
reasons.

ARTICLE 13   RESPONSIBILITY OF BREACH OF CONTRACT 

Once the Mortgagee or the Mortgager breaches this Contract upon
its validation, the breaching party has to undertake corresponding legal
responsibility and compensate for the losses.

ARTICLE 14   REGISTRATION AND CANCELLING OF THE COLLATERAL

The Mortgager shall complete the procedures of the mortgage
registration of the Collateral with relevant registration department within
five (5) official working days after the signing of the Contract. The
Mortgagee shall keep the certificates of other rights, the original of mortgage
registration documents and other certifications of rights of the Collateral.
After fulfilling all the repayment under the Master Contract, the Mortgagee
shall go through the procedures to cancel the registration with the Mortgager in
a timely manner.

ARTICLE 15   LOAN FUND DISBURSEMENT 

Under the supervision department, the following agreements
shall shall/shall not apply to this Contract: 

15.1 Choices of modes of loan fund disbursement under this
Contract are as follows: 

A Loan lender authorized disbursement, that is, the lender will
disburse the loan directly to the transaction objects that accord with the
purposes agreed in the Contract on the borrower’s request of withdrawing funds
and authorizing disbursement. 

B Loan borrower independent disbursement, that is, the lender
disburses the loan to the borrower’s account on the borrower’s request of
withdrawing funds. The borrower will make payment directly to the transaction
objects that accord with the purposes agreed in the Contract. 

The specific mode of fund disbursement is subjected to the
“Loan Fund Disbursement Application” approved by the lender. 

15.2 The lender shall report to the borrower
__________(monthly/quarterly) regarding the payment situation and the modes of
independent disbursement. Upon authorized disbursement, the lender shall offer
proof of the usage of the funds such as business contracts as requested by the
borrower. 

15.3 The lender is entitled to supervise, manage and control
the loan fund as agreed in the Contract. Upon authorized disbursement, the
lender is entitled to verify the disbursement applications, the consistency
between the proof of fund usage and actual applications. Upon independent
disbursement, the lender is entitled to verify whether the actual usages comply
with the purposes agreed in the Contract through account analysis, document
inspection and on-site investigation.

15.4  Should the borrower not disburse the loan funds as agreed in the Contract and evade authorized disbursement by breaking the funds into small parts, leading to abnormal fund usage, the lender is entitled to require for correction within time
schedule, demand adding collateral, stop financing unissued loan fund, change the condition and mode of disbursement and payment, or bring forward the expiration date of the loan fund.

ARTICLE 16   MISCELLANEOUS

16.1 The Mortgager has fully understood the risk of rate. If the Master Contract adopts a floating rate, the Mortgager agrees to undertake the extra guarantee liabilities based on the floating rate.

16.2 No matter how the Mortgager uses the loan under the Master Contract and the credits of other banks, the Mortgager is willing to undertake guarantee responsibilities of all the debt under the Master Contract. The Mortgager has the obligation to
supervise the usage of the loan of the Debtor. 

16.3 The Mortgagee has the right to provide credits information of the Mortgager for the basic individual credit information database of the People’s Bank of China, basic information database of enterprise credit and the database approved by
administration departments of credit information. The Mortgagee is entitled to inquiring of credit information regard to the aforesaid databases and the relevant units, departments and persons. The usage of reports shall be within the scope pursuant
to the Interim Measures for the Administration of the Database of Individual Credit Information and Interim Measures for the Administration of the Database of Information Enterprise Credit released by the People’s Bank of China.

16.4 The modification of the contact information of the Mortgager shall be notified to the Mortgagee in a written form within ten (10) days. Otherwise, a notice to the Mortgager by using the original contact information shall be deemed effective
upon issuing such notice. 

16.5 The Mortgager has to notify the Mortgagee of any of the following circumstances within three (3) days in a written form: A The Mortgager conducts a contract, lease, joint operation, shareholding reform, merger, spin-off, or modification of the
operation management or the equity structure for other reasons; B The Mortgager applies for bankruptcy, reform or settlement; C The Mortgager is involved in revocation or cancellation of business license, business closure or other causes for
dissolution matters; D The Collateral is attached, detained, supervised or other enforcement measures are taken; E Other situations affects on mortgage rights. 

16.6 The Mortgager shall initially understand the business operation of Debtor and the situations of creation and disposal of all kinds of business under this contract. The main contracts and relevant legal documents or certificates of the business
formulated under this Contract will not be sent to the Mortgager. 

ARTICLE 17   DISPUTE RESOLUTIONS

Any dispute arising in the performance of this Contract shall be settled through negotiation. In case that no settlement can be reached through negotiation, the disputes shall be settled by the first method as follows. 

17.1 Litigation. The jurisdiction will be the People’s Court in
the place where the Mortgagee domiciles.

17.2 Arbitration. Submitting to N/A Arbitration
Commission for arbitration in accordance with the arbitration rules thereof.

During the process of litigation or arbitration, the provisions
that are not in dispute shall continue to be implemented. 

ARTICLE 18 This contract shall come into force upon the
signing of both the Mortgagee and the Mortgager. 

ARTICLE 19 This contract shall be prepared in four (4)
copies. Each of the Mortgager, the Mortgagee, the Debtor and registration
department will hold one copy. 

ARTICLE 20   DECLARATION 

20.1 The Mortgager is familiar with the business scope and
authority limitations of the Mortgagee.

20.2 The Mortgager has received and read all the provisions
under the Master Contract and is informed of all the rights and obligations of
the Master Contract.

20.3 The Mortgager has read all the provisions under this
contract. The Mortgagee has been given specific explanations on the provisions
under this Contract at the request of the Mortgager. The Mortgager has fully
understood the meaning and corresponding legal consequences of the provisions
under this Contract. 

20.4 The Mortgager is entitled to sign this Contract.

Appendix: List of Collateral 

Mortgagee: Business Department of Jian Yang Rural Credit
Cooperation (Official Seal) 
Authorized Agent: (Seal) 

Mortgager: Fujian Yaxin Food Development Co., Ltd.
(Signature/Seal) 
Legal Representative: (Signature) 
Authorized Agent:
(Seal) 

Date of Signature: May 5th,
2011 
Place of Signature: Business Department of Jian Yang Rural
Credit Cooperation 

Declaration of Debtor:

Have received the aforementioned Maximum Amount Mortgage
Contract and agree with all the provisions. 

Debtor: Fujian Yaxin Food Development Co., Ltd.
(Official Seal) 

Legal Representative: (Signature) 

Authorised Agent: (Seal) 

Date of Receiving: May 5th,
2011

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