Document:

Asia Green Agriculture Corporation: Exhibit 10.47 - Filed by
   newsfilecorp.com

Exhibit 10.47

Maximum Amount Loan Contract

No. of the Contract: Business Department 2010 No.2

Debtor: Fujian Yaxin Food Co., Ltd 

Creditor: Business Department of Jianyang Rural Credit Cooperation 

In accordance with relevant laws and regulations promulgated by the State, both Debtor and Creditor hereby agree to enter into this Contract. 

ARTICLE 1 CREDITOR AGREES TO ISSUE THE FOLLOWING LOAN TO THE DEBTOR 

From April 7, 2010 to April 6, 2011, Creditor will issue loans in installments to Debtor within the balance of the maximum amount of RMB (In words) Two Million and Eight Hundred Thousand yuan based upon the need of Debt
and the possibility of supplying the money by Creditor. 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. The maturity of each loan shall be
no later than April 6, 2011. The amount, use, term, rate and method of repayment of each loan shall be in line with the receipt for such loan. The receipt of each loan is a part of this Contract and shall be equally effective. 

ARTICLE 2 METHOD OF ADJUSTING INTEREST

In the event that the floating rate is used for loans under this Contract and the benchmark interest rate undergoes adjustment, the adjustment date of the interest rate shall be decided in accordance with the first method as follows: 

1.        The implementation date of the new benchmark interest rate after the People's Bank of China announces the adjustment of benchmark interest rate. 

2.        From the commencement date of the interest, the interest will be adjusted once ____ month(s).  The adjustment date of the interest rate is the date of the adjustment month accordingly. If there is no corresponding date in such month, the last day
of the month shall be the adjustment date of the interest rate. 

3.       Other methods: N/A.

The benchmark interest rate is the loan interest rate of the corresponding period and level announced and implemented by the People's  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. 

ARTICLE 3 PENALTY INTEREST RATE 

Exhibit 10.47

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%, or calculated the interest at ____ (interest rate per day/per month/ per annum).
(When the People's Bank of China adjusts the interest rate, such interest rate shall govern.) 

After the extension of the loans, when Debtor does not use the loans in compliance with the Contract, Debtor 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 People's 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 Debtor 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. 

ARTICLE 4 REPAYMENT OF THE LOAN 

1.        Debtor 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, Creditor is authorized to decide whether to collect the repayment. If Creditor decides not to collect the repayment, the principal and interest in the period will be deemed
overdue. If the Creditor decides to collect the repayment, the balance of the principal and interest shall be regarded overdue. In the course of performing the Contract, Debtor request to change the designated account, Debtor shall obtain
Creditor’s consent. 

2.        If Debtor decides to prepay such the loans, Debtor shall obtain Creditor’s consent in advance. Creditor will charge Debtor 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%. 

3.        The interest under the Contract shall be settled monthly (per annum/quarterly/monthly), and the settlement date shall be the twentieth day of each month. 

Exhibit 10.47

ARTICLE 5 RIGHTS AND OBLIGATIONS OF DEBTOR 

1.        Debtor is authorized to receive and use the loan in accordance with the Contract.
Debtor is not allowed to change the use of the loan without a written consent from Creditor. 

2.        Fulfillment the debt in accordance with the Contract. 

3.         Provision of authentic, integrated and effective financial reports quarterly (monthly/quarterly), information of all banks of deposits, opening accounts and other related documents. 

4.        Acceptance of examination and supervision by Creditor regarding Debtor’s production and operation, financial activities, use of loans and so on. 

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

6.        Debtor shall inform Creditor in advance in writing regarding any guarantee provided by Debtor for itself or for any third party. The guarantee shall not affect the realization of the credit. Debtor 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.        Debtor shall inform Creditor ten (10) days in advance in advance in writing when Debtor prepares to change its name, legal representative, articles of association, residence, business scope, registered capital and son on. 

8.        Debtor shall inform Creditor 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. Debtor shall not perform the above activities unless it obtains Creditor’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 Debtor besides the above activities of Debtor, 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 and so on, Debtor shall inform
Creditor in writing in a timely manner as well as put measures recognized by Creditor 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 

Exhibit 10.47

destroyed, lost, less valuable, confiscated (expropriated) or any other events that will affected the Creditor’s rights to the guarantee, Debtor shall provide and fulfill relevant guarantee measures as required by Creditor. 

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

ARTICLE 6 RIGHTS AND OBLIGATIONS OF CREDITOR 

1.        Creditor is authorized to require Creditor 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 Debtor. 

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

3.        Adequate and timely issuance of the loan to Debtor except for reasons shall not be
attributed to Creditor.

4.        Creditor shall keep any trade secret of Debtor confidential, except that Creditor
uses such trade secret for internal purpose or as required by national laws. 

ARTICLE 7 LIABILITIES OF BREAKING THE CONTRACT

After the effective of this Contract, when either Debtor or Creditor breaches the Contract, it shall be legally liable for the breach and economically compensate the other party. 

When Debtor breaches the Contract, Creditor is authorized to exercise the one of rights or collectively exercise all of the rights as follows at the same time: (1) requiring Debtor to correct its behavior in a specified time, (2) stopping issuance
of the remaining loan under the Contract, (3) exercising credit sanctions on Debtor when Debtor avoids the supervision of Creditor, delinquency of the debt and other material behaviors that breach the Contract, and report the behaviors of Debtor to
relevant department, entity and financial industry via the news or media and implementing announcement and collection. 

ARTICLE 8 MISCELLANEOUS

1.        Creditor is authorized to provide the credit information of Debtor to the basic personal credit information database of the People's Bank of China, basic information database of credit of enterprise and credit database set up and approved by credit
investigation administrations, and to inquire the above credit data of Debtor from relevant entity, department or the individual. The credit date information of Debtor shall be used within the scope as specified in the Interim Regulations on
Management of Basic Personal

Exhibit 10.47

Credit Information Database and Interim Regulations on Management of Basic Credit Information Database of Enterprises enacted and promulgated by the People's Bank of China. 

2.        Debtor shall inform Creditor ten (10) days in advance when Debtor decides to change the contact information; otherwise, Creditor will use the original contact information for sending any notice and the issuance of such notice will deem that
Debtor receives such notice. 

3.        _________________________________________________________________.

ARTICLE 9 DISPUTE RESOLUTIONS

Any dispute arising in the performance of this Contract shall be resolved through a negotiation or via the first method as follows: 

1.        Litigation. The jurisdiction will be the People’s Court in the place where Creditor domiciles.

2.        Arbitration. Submitting to _______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 10 This Contract shall come into force upon the signings of both Debtor and Creditor. 

ARTICLE 11 This Contract shall be prepared in four (4) copies. Each of Debtor,
Creditor and two guarantees will hold one copy.

ARTICLE 12
DECLARATION

1.        Debtor is familiar with the business scope and authority limitations of Creditor.

2.        Debtor has read all the provisions under this Contract. Creditor has been given
specific explanations on the provisions under this Contract at the requested by Debtor. Creditor has fully understood the meaning and corresponding legal consequences of the provisions under this Contract. 

3.        Debtor has the authority to sign this Contract. 

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

Legal Representative: (Signature) 

Authorized Agent: (Seal) 

Creditor: Business Department of Jian Yang Rural Credit Cooperation (Official Seal)

Authorized Agent: (Seal) 

Exhibit 10.47

Date of Signature: April 7th, 2010

Signed at the Business Department of Jian Yang Rural Credit CooperationAsia Green Agriculture Corporation: Exhibit 10.48 - Filed by newsfilecorp.com

Exhibit 10.48 

 

 

Maximum Amount Mortgage Contract

 

 

Fujian Rural Credit Cooperation

 

 

 

Exhibit 10.48 

Contract No.: Business Department 2010 No.02-1 

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 2010 No.02) 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 2,800,000 (in words: RMB TWO MILLION EIGHT HUNDRED
THOUSAND YUAN): 

A.         The
credit formed under any agreed business between the Mortgagee and the Debtor
shall be from April 7, 2010 to April 6, 2011. 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. 

Exhibit 10.48

	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. 

	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: 

Exhibit 10.48

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. 

Exhibit 10.48

	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: 

Exhibit 10.48

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. 

Exhibit 10.48

	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 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 	MISCELLANEOUS 

15.1          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. 

15.2          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. 

15.3          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. 

15.4          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. 

15.5          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; 

Exhibit 10.48

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. 

15.6          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 16 	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. 
	 
	A.          Litigation.
      The jurisdiction will be the People’s Court in the place where the
      Mortgagee domiciles. 
	 
	B.          Arbitration.
      Submitting to _____________ 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 17 	This contract shall come into force upon the
      signing of both the Mortgagee and the Mortgager. 

	ARTICLE 18 	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 19 	DECLARATION 

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

19.2          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. 

Exhibit 10.48

19.3          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: April 7th,
2010 

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: April 7th,
2010 

Exhibit 10.48

List of Collateral 

	Borrower:      Fujian Yaxin
      Food Co., Ltd. 

	Collateral 
Name 	Amount 	Unite Price
Location 	Mortgager 	Discount
Rate 	Value 
(RMB10,000) 	Loan Amount 
(RMB10,000) 
	Cans of 
Fresh 
Bamboo 	82,400 	Ta Xia 
Industrial 
68 Yuan
      Area, 
Jian Yang City 	Fujian Yaxin 
Food Co., 
Ltd.
    	<60% 	560 	280 
							
	 
    	  	  	  	  	  	  
	
    Declaration of the Mortgager: The aforesaid
      collateral belongs to the Mortgager and does not fall in the property
      scope regulated in Article 37 of the Security Law. No duplicated mortgages
      exist on the collateral. The Mortgager is responsible for all the legal
      responsibility regarding the authenticity and legality of the List of
      Collateral. (Official Seal) 
	
     
    
	
    Declaration of the Mortgagee:
      The aforesaid collateral has been verified and no situation of duplicated
      mortgages exist. The authenticity and legality thereof has been verified
      by us and is consistent with the standards of mortgage. We agree to accept
      the collateral for the loan. (Official Seal) April 9, 2010

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