Document:

EXHIBIT
        4.48

    

     

    Renminbi
      Capital Loan Contract

     

    China
      Construction Bank Corporation

     

    Beijing
      Branch

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Borrower
      (hereinafter referred to as “Party A”): Beijing
      Origin Seed Limited.

     

    Lender
      (hereinafter referred to as “Party B”): China
      Construction Bank Corporation Beijing Shangdi Sub-Branch

     

    Party
      A
      has made an application to Party B for a loan and Party B agrees to advance
      the
      loan. According to relevant laws, regulations and rules, Party A and Party
      B,
      upon negotiation, enter into this Contract for their mutual compliance and
      performance.

     

    Article
      1     Amount
      of Money Borrowed

     

    Party
      A
      borrows from Party B an amount of RMB (Say) Forty
      Million Yuan.

     

    Article
      2     Purpose
      of Money Borrowed

     

    Party
      A
      will use the money borrowed for the purpose of
      repaying the mature loan of Year 2006 Zi 123010 No.024, 40 million working
      capital loan. Party
      A
      is not supposed to change the purpose of the money borrowed, unless Party B
      agrees in writing in advance. 

     

    Article
      3    Term
      of Money Borrowed

     

    As
      provided in this Contract, the term of the money borrowed is 6
      months
      commencing from November
      , 2007
      and
      ending on May
      ,
      2008.

     

    If
      the
      commencement date of the term of the money borrowed hereunder is different
      from
      that specified in the bank remittance voucher (loan debt and bill, sic passim),
      the date specified in the bank remittance voucher for the first advance shall
      prevail, and the ending date as described in this article will be
      adjusted.

     

    The
      bank
      remittance voucher shall be an integral part of this Contract and have the
      same
      force and effect as this Contract.

     

    Article
      4    Interest
      Rate, Penalty Interest Rate, Interest Calculation and
      Settlement

     

    1.    Interest
      Rate

     

    The
      interest rate of the loan hereunder shall be annually
      interest
      rate at (1)
      below:

     

    
      	 	
              (1)

            	
              fixed
                rate of 7.29%, which rate shall remain unchanged during the term
                of the
                money borrowed;

            

    

     

    
      	
            	(2)	
              fixed
                rate, that is, [intentionally
                left blank] %
                [intentionally
                left blank]
                (above/below) the base interest rate from the Interest Starting Date,
                which rate shall remain unchanged during the term of the money
                borrowed;

            

    

     

    
      	 	
              (3)

            	
              floating
                rate, that is, [intentionally
                left blank] %
                [intentionally
                left blank]
                (above/below) the base interest rate and adjusted every [intentionally
                left blank]
                months from the Interest Starting Date. The interest adjustment date
                shall
                be the date corresponding to the Interest Starting Date in the month
                the
                interest is adjusted. If there is no date corresponding to the Interest
                Starting Date in that month, then the last day in that month shall
                be the
                interest adjustment date.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
              2.

            	
              Penalty
                Interest Rate

            

    

     

    
      	 	
              (1)

            	
              If
                Party A fails to use the loan for the purpose specified herein, the
                penalty interest rate shall be floated above
                100% of
                the loan interest rate, if the loan rate is adjusted as article 1
                (3)
                described, then the penalty interest rate will be adjusted corresponding
                to the new loan interest rate and the foresaid floating
                scope.

            

    

     

    
      	
            	(2)	
              The
                penalty interest for overdue loan hereunder shall be shall be floated
                above 50%
                of
                the loan interest rate, if the loan rate is adjusted as article 1
                (3)
                described, then the penalty interest rate will be adjusted corresponding
                to the new loan interest rate and the foresaid floating
                scope.

            

    

     

    
      	
            	(3)	
              It
                depends on the severity for the calculation of the penalty interest
                and
                compound interest, if the loan is overdue and embezzled
                simultaneously.

            

    

     

    
      	
              3.

            	
              The
                Interest Starting Date referred to in this Article means the date
                when the
                first advance made hereunder is transferred and deposited into Party
                A’s
                account.

            

    

     

    The
      base
      interest rate for the first advance made hereunder shall be the interest rate
      for loans of same grade announced by the People’s Bank of China on the date of
      Interest Starting Date; thereafter, when the interest rate or penalty interest
      rate is adjusted pursuant to the foregoing provisions, the base interest rate
      shall be the interest rate for loans of same grade announced by the People’s
      Bank of China on the adjustment date; if no interest rate is announced by the
      People’s Bank of China for loans of same grade, the base interest rate shall be
      the inter-bank acceptable or customary interest rate for loans of same grade
      on
      the adjustment date, unless otherwise provided by the parties. 

     

    
      	
              4.

            	
              The
                interest of the loan shall be accrued from the date when the loan
                is
                deposited into Party A’s account. The interest of the loan hereunder shall
                be accrued on a daily basis. The daily interest rate = annual interest
                rate/360. A compound interest shall be accrued from the following
                date if
                Party A fails to pay accrued interest when
                due.

            

    

     

    
      	
              5.

            	
              Settlement
                of Interest

            

    

     

    
      	 	
              (1)

            	
              If
                a fixed interest rate is applied to the loan, the interest shall
                be
                calculated and settled at the agreed interest rate. If a floating
                interest
                rate is applied to the loan, the interest shall be calculated at
                such
                interest rate as then determined at each floating period; if the
                interest
                rate changes several times within one interest settlement period, the
                interest accrued at each floating period shall be first calculated
                and
                then added up on the interest settlement date as the interest accrued
                within such interest settlement
                period.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
            	(2)	
              The
                interest shall be settled at i
                as
                follows

            

    

     

    
      	i.  	
              The
                interest shall be settled on a monthly
                basis for the loan hereunder and the interest settlement date shall
                be the
                20th of every month.

            

    

     

    
      	ii.  	
              The
                interest shall be settled on a seasonly
                basis for the loan hereunder and the interest settlement date shall
                be the
                20th of every season ending month.

            

    

     

    
      	iii.  	
              Others:
                [intentionally
                left blank].

            

    

     

    Article
      5     Advance
      and Use of Money Borrowed

     

    
      
        	1.	
                Conditions
                  Precedent to the Advance of the Money
                  Borrowed

              

      

    

     

    Party
      B
      is only obligated to advance the money borrowed upon the satisfaction of the
      following conditions unless the same are wholly or partly waived by Party
      B:

     

    
      	i.  	
              Party
                A having completed the approval, registration, delivery and other
                legal
                procedures in respect of the loan
                hereunder;

            

    

     

    
      	ii.  	
              If
                a security is created for this Contract, the security as Party B
                required
                has become effective and
                persistent;

            

    

     

    
      	iii.  	
              Party
                A has opened the special account for drawing and repaying as Party
                B
                required;

            

    

     

    
      	iv.  	
              Party
                A having committed no event of default, or any circumstances endangering
                Party B’s lender’s right perhaps set forth in this
                Contract;

            

    

     

    
      	v.  	
              The
                loan hereunder is not be prohibited and limited by the laws and
                regulations, rules or competent authorities

            

    

     

    
      	vi.  	
              Other
                conditions

            

    

     

    [intentionally
      left blank]. 

     

    
      
        	2.	
                Schedule
                  of Use of the Loan

              

      

    

     

    Schedule
      of use of the loan shall be (1)
      as
      follows:

     

    (1)
      Schedule as follows:

     

    (i)
      November , 2007   amount
      Forty
      Million Yuan;

     

    (ii)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank];

     

    (iii)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank];

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    (iv)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank].

     

    (v)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank].

     

    (vi)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank].

     

    (2)
      [intentionally left blank]

     

    
      
        	3.	
                Party
                  A shall use the money according to Schedule of Use of the Loan
                  as above 2
                  described, unless Party B agrees in writing in advance, Party A
                  shall not
                  accelerate, postpone, cancel the drawing

              

      

    

     

    
      
        	4.	
                If
                  Party A uses the money in part, the termination date of the loan
                  shall be
                  confirmed as article 3 described.

              

      

    

     

    Article
      6    Repayment

     

    
      
        	1.	
                Repayment
                  Principles

              

      

    

     

    Repayment
      made by Party A hereunder shall comply with the following
      principles:

     

    Party
      B
      has right to use the money of Party A’s repayment first to repay the fees
      advanced by Party B and the fees of settling the debt, the remain shall be
      subject to the principles of interest paid first and principal repaid then
      and
      the interest paid together with the principal. If its principal amount is
      overdue for over 90 days, or its interest is overdue for over 90 days, or loans
      otherwise provided for by laws or regulations, the principles of principal
      repaid first and interest paid then shall be complied with after Party A
      repaying the foresaid money.

     

    
      
        	2.	
                Payment
                  of Interest

              

      

    

     

    Party
      A
      shall pay to Party B all interest accrued on the interest settlement date.
      The
      first date of payment of interest shall be the first interest settlement date
      after the advance of the money borrowed. All interest accrued shall be paid
      at
      the time of final repayment.

     

    
      
        	3.	
                Schedule
                  of Repayment of Principal

              

      

    

     

    Schedule
      of repayment of principal shall be (1)
      as
      follows:

     

    (1)
      Schedule as follows:

     

    (i)
      May ,
      2008    amount
      Forty
      Million Yuan;

     

    (ii)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank];

     

    (iii)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank];

     

    (iv)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank];

     

    (v)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank];

     

    (vi)
      [intentionally
      left blank]  (date) amount
      [intentionally
      left blank].

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    (2)
      [intentionally left blank]

     

    
      	
              4.

            	
              Method
                of Repayment

            

    

     

    
      	 	
              Prior
                to the repayment date provided in this Contract, Party A shall deposit
                into an account opened by Party B enough funds for any amount then
                due and
                such funds will be automatically transferred and paid to Party B,
                or, on
                the repayment date provided in this Contract, Party A shall transfer
                funds
                from other account for the repayment of the loan. If Party A fails
                to
                repay the loan in a timely manner, Party B shall have the right to
                transfer and receive any funds from the account opened by Party A
                at China
                Construction Bank’s system.

            

    

     

    
      	
              5.

            	
              Prepayment

            

    

     

    Party
      A
      shall submit to Party B a written application 30
      bank
      business days in advance for its prepayment of the principal and may prepay
      part
      or whole of the principal upon Party B’s consent.

     

    If
      Party
      A prepays the principal, the interest shall be accrued based on the actual
      number of days the money is borrowed and at the interest rate set forth in
      this
      Contract.

     

    If
      Party
      B agrees Party A to prepay the principal, then Party B has right to charge
      the
      compensation, the standard of the compensation shall be
      1
as
      follows:

     

    compensation
      = amount of principal prepaid x number of months ahead x 1‰.
      In case
      of less than one month, it
      shall be deemed as one month.

     

    If
      Party
      A prepays part of the principal of the loan that is to be repaid by
      installments, such prepayment shall be made pursuant to the repayment schedule
      in reverse order. After such prepayment, the interest rate set forth in this
      Contract shall continue to be applied to the outstanding loan.

     

    Article
      7     Party
      A’s Right and Obligations

     

    
      	
              1.

            	
              Party
                A shall have the right to: 

            

    

     

    
      
        	
              	(1)	
                require
                  Party B to advance the loan according to this
                  Contract.

              

      

    

     

    
      
        	
              	(2)	
                use
                  the loan for the purpose provided in this
                  Contract.

              

      

    

     

    
      
        	
              	(3)	
                apply
                  to Party B for an extension of the loan if Party A satisfies the
                  conditions required by Party
                  B.

              

      

    

     

    
      
        	
              	(4)	
                require
                  Party B to keep confidential relevant accounting information and
                  production and operation related trade secrets provided by Party
                  A, unless
                  otherwise provided for by laws, regulations and rules, requirement
                  of the
                  competent authorities or other agreement between both
                  parties.

              

      

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    
      
        	
              	
                (5)

              	
                reject
                  Party B and its personnel asking for bribe, or report to the competent
                  authorities for the foresaid acting and the violation of laws and
                  regulations regarding credit interest rate and service
                  fees.

              

      

    

     

    
      
        	2.	
                Party
                  A shall be obligated:

              

      

    

     

    
      
        	
              	(1)	
                to
                  draw the money and repay the principal and interest of the loan,
                  pay the
                  fees as described in this
                  contract.

              

      

    

     

    
      
        	
              	(2)	
                to
                  provide relevant financial and accounting materials, information
                  on
                  production and operation conditions as requested by Party B and
                  be
                  responsible for the truthfulness, completeness and validity of
                  the
                  materials so provided, including without limited to, provide Party
                  B
                  within the first 15
                  bank business days of the first month of every quarter with the
                  balance
                  sheet and loss and profit statement (income and expenditure statement
                  for
                  government sponsored institute) at the end of last quarter and
                  provide at
                  the end of every year cash flow statement of the current year,
                  not to
                  provide false materials or to disguise the necessary operating
                  financial
                  fact;

              

      

    

     

    
      
        	
              	(3)	
                to
                  notify Party B in writing of any change in its name, legal representative
                  (person in charge), domicile, business scope or registered capital
                  or
                  company charter within 30 business days after the change and attaching
                  the
                  relevant materials changed.

              

      

    

     

    
      
        	
              	(4)	
                to
                  use the money for the purpose set forth in the contract, not to
                  misappropriate or embezzle the money borrowed or commit the unlawful
                  transaction with the money borrowed; to actively cooperate with
                  and
                  voluntarily accept Party B’s inspection of and supervision over its
                  production and operation and financial activities as well as the
                  use of
                  the money borrowed hereunder; not to spirit its money away or transfer
                  its
                  assets or use related transactions to escape debts owing to Party
                  B; not
                  to enter into any false agreement with the related party and to
                  use the
                  accounts and notes receivable without actual transaction background
                  to
                  discount, pledge, draw the money and credit from the
                  bank;

              

      

    

     

    
      
        	
              	(5)	
                to
                  abide by the regulations promulgated by the State regarding the
                  environment protection, if Party A use the money borrowed hereunder
                  for
                  production, manufacture and
                  construction;

              

      

    

     

    
      
        	
              	(6)	
                not
                  to use the assets generating from the loan hereunder to provide
                  security
                  for a third party without Party B’s consent before its full repayment of
                  the interest and principal owing to Party
                  B;

              

      

    

     

    
      
        	
              	(7)	
                to
                  report to Party B the related transactions of over 10% net assets
                  value,
                  including (i) related relations among parties; (ii) items and feature
                  of
                  the transaction; (iii) sum and corresponding rate of the transaction;
                  (iv)
                  policy of fixing the price (including non-money or symbolistic
                  money
                  transaction), if Party A is a group
                  client;

              

      

    

     

    
      
        	
              	(8)	
                to
                  guarantee obtaining the approval of the coming project from the
                  relevant
                  competent authorities and not to disobey any laws and regulations,
                  capital
                  fund or other raising money shall be transferred enough in time
                  and in
                  proportion as described in the contract; to guarantee accomplishing
                  the
                  project as the plan
                  described.

              

      

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    Article
      8     Party
      B’s Rights and Obligations

     

    
      	1.  	
              Party
                B shall have the right to require Party A to repay the principal,
                interest
                and fees, to execute other rights set forth in the contract, to require
                Party A to fulfill other obligations as described in the
                contract.

            

    

     

    
      	2.  	
              Party
                B shall advance the loan as described in the contract, but for the
                postponement due to Party A or something not due to Party
                B.

            

    

     

    
      	3.  	
              Party
                B shall be obligated to keep confidential financial materials and
                production and operation related trade secrets provided by Party
                A, unless
                otherwise provided for by laws, regulations and rules, by relevant
                competent authorities, and by agreement entered into between both
                parties.

            

    

     

    
      	4.  	
              Party
                B shall not provide or ask for the bribe, to or from Party A and
                its
                personnel 

            

    

     

    
      	5.  	
              Party
                B shall not commit anything to damage Party A’s lawful interest, or in bad
                faith. 

            

    

     

    Article
      9  Liability for Breach of
      Contract and Remedy for Damage of Party B’s Debt

     

    
      
        	1.	
                Party
                  B’s Event of Default

              

      

    

     

    
      
        	
              	(1)	
                If
                  it fails to advance the loan as described in the contract without
                  duly
                  reason, Party A has right to ask Party B to advance the loan ahead
                  as
                  described in the contract; 

              

      

    

     

    
      
        	
              	(2)	
                If
                  Party B violates the relevant laws and regulations and accepts
                  non-receivable interests and fees, Party B has right to ask to
                  back the
                  foresaid.

              

      

    

     

    
      
        	2.	
                Party
                  A’s Event of Default

              

      

    

     

    
      
        	
              	(1)	
                in
                  breach of any term and condition or other obligations provided
                  in
                  laws.

              

      

    

     

    
      
        	
              	(2)	
                not
                  fulfill any obligation provided in this contract, expressing by
                  word or
                  action

              

      

    

     

    
      
        	3.	
                Event
                  of damage of Party B’s Debt

              

      

    

     

    
      
        	
              	(1)	
                Party
                  B’s debt shall be deemed to be damaged if the event falls into any
                  of the
                  following circumstances: Party A happens to be contracting, consignment,
                  lease, reform with the stock system, decreasing the capital fund,
                  investment, association, merger, acquisition, purchase and recombination,
                  division, joint venture, application for suspending business for
                  internal
                  rectification, application for dissolution or bankruptcy, revoked,
                  change
                  of shareholder/actual controller or transfer of big assets, winding-up,
                  closed, highly penalty by competent authorities, deregistered,
                  revoked its
                  business license, part of big legal dispute, suffering from financial
                  losses of operation and manufacture, non-execution of its responsibilities
                  by legal representative 

              

      

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      
        	
              	(2)	
                Party
                  B’s debt shall be deemed to be damaged if the event falls into any
                  of the
                  following circumstances: Party A shall not fulfill the mature debt
                  hereunder(including CCB subsidiaries or other third party’s mature debt),
                  transfer the assets with low-price or gratis, reduce and release
                  the third
                  party debt, execute the its own lender’s right or other right in laches,
                  or provide securities for the third
                  party;

              

      

    

     

    
      
        	
              	(3)	
                Party
                  B’s debt shall be deemed to be damaged if shareholders of Party A
                  abuse
                  its independence or limited responsibility to escape repaying the
                  debt,;

              

      

    

     

    
      
        	
              	(4)	
                Any
                  precondition of advancing the loan provided in the contract is
                  not
                  satisfied continuously;

              

      

    

     

    
      
        	
              	(5)	
                Party
                  B’s debt shall be deemed to be damaged if the Guarantor falls into
                  any of
                  the following circumstances:

              

      

    

     

    
      
        	
              	i.	
                in
                  breach of any term and condition or state set forth in the guarantee,
                  and
                  false, mistake, omit exist in guarantee
                  items;

              

      

    

     

    
      
        	
              	ii.	
                happens
                  to be contracting, consignment, lease, reform with the stock system,
                  decreasing the capital fund, investment, association, merger, acquisition,
                  purchase and recombination, division, joint venture, application
                  for
                  suspending business for internal rectification, application for
                  dissolution or bankruptcy, revoked, change of shareholder/actual
                  controller or transfer of big assets, winding-up, closed, highly
                  penalty
                  by competent authorities, deregistered, revoked its business license,
                  part
                  of big legal dispute, suffering from financial losses of operation
                  and
                  manufacture, non-execution of its responsibilities by legal
                  representative, something impact on the guarantor’s capacity of
                  guarantee;

              

      

    

     

    
      
        	
              	iii.	
                other
                  circumstances maybe lose or lose capacity of
                  guarantee;

              

      

    

     

    
      
        	
              	(6)	
                Party
                  B’s debt shall be deemed to be damaged if the pledge and mortgage
                  falls
                  into any of the following
                  circumstances:

              

      

    

     

    
      
        	
              	i.	
                the
                  collateral of the pledge or mortgage will be damaged, destroyed
                  and lost,
                  shank in value because of the third party’s action, collection of state,
                  seized, confiscation, retraction gratis, house breaking and moving,
                  market
                  floating or any other reasons like
                  that;

              

      

    

     

    
      
        	
              	ii.	
                the
                  collateral of the pledge or mortgage will be seized, detained,
                  frozen,
                  transferred, lien, auction, supervised by administration, dispute
                  of
                  property;

              

      

    

     

    
      
        	
              	iii.	
                the
                  pledgor or mortgager breaches the terms and statement of the contract,
                  and
                  false, mistake, omit exist in guarantee
                  items;

              

      

    

     

    
      
        	
              	iv.	
                other
                  circumstances damage realizing the pledge or
                  mortgage;

              

      

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      
        	
              	(7)	
                if
                  the security contract does not take effect or is invalid or revoked,
                  the
                  guarantor falls into other circumstance under which it is partly
                  or wholly
                  deprived of its ability to secure the loan, or the guarantor refuses
                  to
                  perform its guarantee obligations, the collateral shrinks in value
                  and
                  others Party B’s debt shall be deemed to be
                  damaged

              

      

    

     

    
      
        	
              	(8)	
                other
                  circumstances Party B’s debt shall be deemed to be
                  damaged

              

      

    

     

     

    
      	4.  	
              Party
                B’s Remedial Measures

            

    

     

    Upon
      the
      occurrence of any of the events of default set forth in paragraph (2) to
      paragraph (3) hereinabove, Party B shall be entitled to one or more of the
      following rights:

     

    
      	 	
              (1)

            	
              to
                stop the advance of the loan, 

            

    

     

    
      	
            	(2)	
              declare
                the immediate maturity of the loan and require Party A to repay all
                principal, interest and expenses hereunder whether or not due and
                payable.

            

    

     

    
      	 	
              (3)

            	
              if
                Party A fails to use the loan provided herein, Party B has right
                to
                collect liquidated damages from Party A on the amount of the loan
                not used
                as provided hereunder at [intentionally
                left blank] %.

            

    

     

    
      	 	
              (4)

            	
              to
                impose interest and compound interest on the part of the loan
                misappropriated by Party A at the penalty interest rate from the
                date the
                loan is not used for the purpose provided herein to the date the
                principal
                and interest are repaid in full and pursuant to the method of settlement
                of interest provided herein if Party A fails to use the loan for
                the
                purpose provided herein. 

            

    

     

    
      	
            	(5)	
              if
                the loan is overdue, to impose interest and compound interest on
                the
                outstanding principal and interest payable by Party A (including
                the
                principal and interest declared by Party B to be wholly or partly
                due and
                payable) at the penalty interest rate from the date the loan is overdue
                to
                the date the principal and interest are repaid in full and according
                to
                the method of settlement of interest provided herein. The overdue
                loan
                refers to Party A’s failure to repay the loan in a timely manner or its
                repayment of the loan behind the repayment schedule set forth in
                this
                Contract.  

            

    

     

    
      	 	 	
              to
                impose compound interest on any overdue interest payable by Party
                A at the
                interest rate and according to the method of settlement of interest
                set
                forth in the contract before the maturity of the
                loan.

            

    

     

    
      	
            	(6)	
              other
                remedial measures, including but not
                limited:

            

    

     

    
      	
            	i.	
              to
                transfer and receive any amount in any currency from the account
                opened by
                Party A at China Construction Bank’s system without informing in
                advance.

            

    

     

    
      	
            	ii	
              to
                exercise rights under the security

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

       

    

    
      	
            	
              iii

            	
              to
                require Party A to provide such new security as required by Party
                B for
                all debts hereunder. 

            

    

     

    
      	
            	iv	
              to
                terminate this Contract.

            

    

     

    Article
      10     Other
      Matters Agreed

     

    
      
        	1.	
                Burden
                  of the Expenses and Fees

              

      

    

     

    Party
      A
      shall bear the Expenses and Fees hereunder and regarding the security hereunder
      of lawyer service, insurance, evaluation, registration, safekeeping, appraisal,
      and notarization and so on, except otherwise agreed between both
      parties.

    

    Party
      A
      shall bear the Expenses and Fees including but not limited of lawsuit,
      arbitration, property safekeeping, traveling, execution, evaluation, auction,
      notarization, delivery, notification, lawyer service etc.

     

    
      
        	2.	
                Use
                  of Party A’s Information

              

      

    

     

    Party
      A
      agrees, Party B apply to the People’s Bank of China and its competent department
      of credit for approval of setting up a credit data-base, or to relevant
      authorities and departments for searching Party A’s credit; Party B provides
      Party A’s information for the credit data-base approved by the People’s Bank of
      China and its competent department of credit, and fair use and disclose Party
      A’s information as Party B’s business required.

     

    
      
        	3.	
                Public
                  Notification for Urging
                  Repayment

              

      

    

     

    Upon
the
      occurrence of delay of repaying the principal and interest or any of the events
      of default set forth hereunder, Party B has right to report to the competent
      authorities and department, and has right to report to mess media. 

     

    
      
        	4.	
                Evidential
                  Force of Party B’s Record

              

      

    

     

    It
      shall
      be composed of certain evidences effectively proofing the creditor’s right
      relations between both parties that Party B’s internal financial record of
      principal, interests, fees and repaying record, and Bill and Voucher executed
      and kept by Party B regarding Party A’s drawings, repaying, repayment of
      interests, and Record and Voucher Party B urging the loan, unless otherwise
      there will be believable and assured opposite evidences.

     

    
      
        	5.	
                Some
                  Rights Reserved 

              

      

    

     

    Party
      B’s
      right hereunder shall not impact and exclude any right Party B entitled by
      laws
      and regulations and other contracts. It shall not deem to be surrender of right
      and interests hereunder or permission of breach of the contract if any
      tolerance, period grace, preference of breach of contract or delay performing
      the right hereunder. It shall not limit, hinder, and obstruct to perform ahead
      the foresaid right and other right. So it shall not cause Party B being
      responsible for Party A as well.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

    

    
      
        	
                6.

              	
                Except
                  the debt as described in the contract, Party B has right to transfer
                  the
                  money in currency of RMB or any others in Party A’s account opening at CCB
                  to repay any mature debt first, if Party A burdens the other debt
                  of Party
                  B as well, meanwhile Party A shall agree without any
                  objection.

              

      

    

     

    
      
        	7.	
                Party
                  A shall give a written notice to Party B as soon as possible, if
                  Party B’s
                  mail address or contact is changed, otherwise Party A shall bear
                  the loss
                  because of the failure of the foresaid
                  notice.

              

      

    

     

    
      
        	8.	
                Transfer
                  of the Payable Money

              

      

    

     

    As
      to all
      Party A’s payable money hereunder, Party B has right to transfer the money in
      currency of RMB or any others in Party A’s account opening at CCB without
      informing Party A in advance. Party A shall be obligated to assist Party B
      to go
      through the procedures of settling and selling foreign exchange or purchasing
      and selling foreign exchange if any, Party A shall bear the risk of foreign
      exchange rate.

     

    
      
        	9.	
                Settlement
                  of Dispute

              

      

    

     

    Any
      dispute arising from the performance of this Contract may be settled through
      negotiation. If no settlement could be reached, the dispute shall be dealt
      with
      according to (1)
      below:

     

    
      	(1)	
              to
                bring a lawsuit at the People’s Court where Party B’s domicile is located;
                or

            

    

     

    
      	
              (2)

            	
              to
                submit the dispute to [intentionally
                left blank]
                Arbitration Commission (the place of arbitration is [intentionally
                left blank])
                for arbitration according to its arbitration rules then effective
                at the
                time of submission. The arbitration award shall be final and binding
                on
                the two Parties.

            

    

     

    In
      the
      course of lawsuit or arbitration, the Parties shall continue to perform those
      provisions in this Contract which are not under dispute.

     

    
      
        	10.	
                Effectiveness
                  of this Contract

              

      

    

     

    This
      Contract shall become effective after it is signed by Party A’s legal
      representative (person in charge) or authorized representative and stamped
      with
      its corporate seal and signed by Party B’s person in charge or authorized
      representative and stamped with its corporate seal.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      
        	11.	
                This
                  Contract shall be made in four
                  counterparts.

              

      

    

     

    
      
        	12.	
                Other
                  Matters Agreed

              

      

    

     

    [intentionally
      left blank]

     

    [intentionally
      left blank]

     

    [intentionally
      left blank]

     

    [intentionally
      left blank]

     

    Article
      11     Representations

     

    
      	
              1.

            	
              Party
                A is fully aware of Party B’s business scope and scope of
                authority.

            

    

     

    
      	
              2.

            	
              Party
                A has perused each clause in this Contract. As requested by Party
                A, Party
                B has explained correspondingly clauses in this Contract. Party A
                is fully
                aware of and understands the meaning and corresponding legal consequences
                of each clause in this Contract.

            

    

     

    
      	3.	
              Party
                A shall execute and fulfill the obligation hereunder in accordance
                with
                laws, regulations, rules and company charter or internal organizational
                documents, as well as obtain the approval of the internal competent
                department of company or the national competent
                authorities.

            

    

     

     

    
      	Party A (corporate seal): Beijing Origin
              Seed Limited.
	 
	Legal representative (person in charge)
              or
              authorized representative (signature): 
	 
	/s/ Gengchen Han
	 
	/s/ CORPORATE
              SEAL
	 
	November 13 ,
              2007

    

     

     

    
      	Party B (corporate seal): China Construction
              Bank Corporation Beijing Shangdi Sub-Branch
	 
	Legal
              representative (person in charge) or authorized representative
              (signature): 
	 
	/s/
              Qi Xue
	 
	/s/ CORPORATE
              SEAL
	 
	November 13 ,
              2007

    

     

    
      
        
        

      

      
        12EXHIBIT
      10.1

    

    Execution
      Copy

    

    PURCHASE
      AGREEMENT

    

    AGREEMENT
      made as
      of the 11th day of February, 2008 by and between PREMIER
      P.E.T. IMAGING INTERNATIONAL, INC., a
      Delaware corporation with offices at 4710 N.W. Boca Raton Blvd., Suite 200,
      Boca
      Raton, Florida 33431 (“Seller”)
      and
SAGEMARK
      ROCKVILLE, LLC,
      a New
      York limited liability company with offices at 344 Grant Avenue, Woodmere,
      NY
      11598 (the “Rockville
      Buyer”),
      and
SAGEMARK
      FOREST, LLC,
      a New
      York limited liability company with offices at 344 Grant Avenue, Woodmere,
      NY
      11598 (the “Queens
      Buyer”)
      (the
      Rockville Buyer and the Queens Buyer hereinafter collectively referred to as
      the
“Buyer”).
      

    

    WITNESSETH:

    

    WHEREAS,
      Seller
      is the owner of a 51% membership interest (the “Rockville
      Centre Equity Interest”)
      in
      Premier P.E.T. of Long Island, LLC (the “Rockville
      Centre LLC”)
      and an
      80% membership interest (the “Queens
      Equity Interest”)
      in
      P.E.T. Management of Queens, LLC (the “Queens
      LLC”);
      and

     

    WHEREAS,
      Buyer
      wishes to purchase from Seller, and Seller is willing to sell to Buyer, its
      aforementioned Rockville Centre Equity Interest and Queens Equity Interest
      (collectively, the “Equity
      Interests”),
      all on
      and subject to the terms and conditions of this Agreement.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants, promises, and agreements contained herein
      and for other good and valuable consideration, the receipt and sufficiency
      of
      which is hereby acknowledged, the parties hereto agree as follows:

    

    
      
        1.    Sale
          of the Equity Interests.

      

    

    

    1.1.
      Sale
      and Purchase of the Equity Interests.
      Upon and
      subject to the terms and conditions hereinafter set forth in this Agreement,
      Seller hereby agrees to sell, assign and transfer to the Rockville Buyer and
      the
      Queens Buyer, as applicable, on the Closing Date (hereinafter defined), and
      the
      Rockville Buyer and the Queens Buyer, as applicable, hereby agree to purchase
      from Seller on the Closing Date, the Rockville Centre Equity Interest and the
      Queens Equity Interest, for and in consideration of the purchase prices set
      forth in Sections 1.2 and 1.3 hereof, respectively, and subject to the liens
      and
      security interests of the Equipment Lenders therein. 

    

    1.2.
      Purchase
      Price for the Rockville Centre Equity Interest.
      As and
      for the purchase price for the Rockville Centre Equity Interest (the
“Rockville
      Centre Purchase Price”),
      the
      Rockville Buyer hereby agrees to pay to Seller the following:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (a)
       Fifty
      Thousand Dollars ($50,000) upon the execution of this Agreement (the
“Initial
      Cash Payment”),
      payable by check or by wire transfer to Seller’s account in accordance with wire
      transfer instructions to be provided to the Rockville Buyer on or prior to
      the
      date hereof.

     

    (b)
       An
      amount
      equal to Two Hundred Thousand Dollars ($200,000) less Seller’s legal fees
      referred to in Section 9.1(c) hereof (the “Rockville
      Centre Purchase Price Cash Balance”),
      payable on or before the Outside Date (hereinafter defined) by wire transfer
      to
      Seller’s account in accordance with wire transfer instructions to be provided by
      Seller to the Rockville Buyer prior to the Outside Date; and

    

    (c)
       Seventy-Five
      Thousand Dollars ($75,000) on or before March 1, 2008, by wire transfer to
      Seller’s account in accordance with wire transfer instructions to be provided by
      Seller to the Rockville Buyer prior to such date. 

    

    1.3.
       Purchase
      Price for the Queens Equity Interest.
      As and
      for the purchase price for the Queens Equity Interest (the “Queens
      Purchase Price”),
      the
      Queens Buyer hereby agrees to pay to Seller the following: 

    

    (a)
       An
      amount
      equal to twenty percent (20%) of the gross amount of all distributions received
      by the Queens Buyer from the Queens LLC in each month during the period
      commencing on the Closing Date and ending on the date of closing of any sale
      of
      the Queens LLC (whether by sale of all of the outstanding membership interests
      or assets of the Queens LLC), such amounts to be paid to Seller within ten
      (10)
      days after the Queens Buyer’s receipt thereof. The Queens Buyer and the Queens
      LLC will notify Seller of all such distributions made to its members during
      such
      period and the Queens Buyer will provide Seller with evidence of the payment
      therefor by the Queens LLC at each time that it remits payment of such amounts
      to Seller hereunder. Seller shall have the right, at any time during such
      period, to inspect the books and records of the Queens LLC relating to such
      distributions, such inspection to be conducted at Seller’s expense (except that
      if such inspection reveals that such distributions were received by the Queens
      Buyer and the aforementioned amounts that should have been paid to Seller when
      due were not paid, the Queens Buyer shall reimburse Seller for such inspection
      costs); and

    

    (b)
       all
      amounts in excess of $300,000 of management fees payable to the Queens LLC
      as of
      the Closing Date pursuant to turnkey license and services agreements between
      the
      Queens LLC and the professional corporations which are parties thereto (the
      “Excess
      Fees”).
      Such
      Excess Fees shall be paid to Seller, when, as and if such Excess Fees are
      received by the Queens Buyer; and

     

    (c)
       an
      amount
      equal to Seven Hundred Fifty Thousand Dollars ($750,000), less any amounts
      received by Seller pursuant to subsection (a) above, from and subject to the
      receipt of proceeds by either the Queens LLC and/or the members thereof from
      any
      sale of the assets of the Queens LLC or the sale of the outstanding membership
      interests owned by the members of the Queens LLC. Such amount will be paid
      to
      Seller within five (5) days after the closing of any such sale.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    1.4.
       Transfer
      Taxes.
      To the
      extent that there are any transfer or similar taxes or charges payable with
      respect to the transfer by Seller of the Equity Interests to the Rockville
      Buyer
      and the Queens Buyer, as applicable, such payment will be the responsibility
      of
      the Rockville Buyer and the Queens Buyer, as applicable, and will be paid at
      the
      Closing (hereinafter defined), or otherwise when due.

    

    1.5.
       Membership
      Certificates.
      On the
      Closing Date, Seller will deliver the original membership certificates
      evidencing Seller’s ownership of the Equity Interests (the “Certificates”)
      to the
      Rockville Buyer and the Queens Buyer, as applicable. 

    

    1.6.
       Consents.
      The
      Rockville Buyer and the Queens Buyer, as applicable, acknowledge that each
      of
      them will be required to deliver to Seller on or before the Outside Date
      consents to the transactions contemplated by this Agreement from each of the
      members of the Rockville Centre LLC and the Queens LLC, as applicable (the
      “Member
      Consents”).
      The
      Rockville Buyer and the Queens Buyer, as applicable, will use their best efforts
      to obtain, prior to the Outside Date, consents to the release of Sagemark under
      the Lease Agreements referred to in Section 2.4 hereof, as applicable (the
      “Landlord
      Consents”).
      In the
      event that either or both of the Landlord Consents are not obtained by the
      Outside Date, as aforesaid, the Rockville Buyer and the Queens Buyer, as
      applicable, will indemnify and hold Sagemark harmless from any liability, loss,
      obligation, cost or expense incurred by Sagemark under either of such Lease
      Agreements from and after the Closing Date. Sagemark will, under any such
      circumstances, retain the right to receive the return of any security deposit
      made under such Lease Agreements when, as and if such deposits are returnable
      in
      accordance with the terms of such agreements.

    

    
      2.    Assumption
        of Indebtedness and Obligations. 

    

    

    2.1.
       Cancellation
      of Rockville Centre Indebtedness.
      Seller
      will deliver to the Rockville Buyer on and subject to the Closing Date, an
      instrument in form and substance reasonably satisfactory to the Rockville Buyer
      (the “Sagemark
      RC Debt Release Instrument”),
      signed
      by Seller and The Sagemark Companies Ltd. (“Sagemark”),
      canceling all indebtedness of the Rockville Centre LLC to Sagemark and
      Seller.

    

    2.2.
       Cancellation
      of Queens Center Indebtedness.
      Seller
      will deliver to the Queens Buyer on and subject to the Closing Date, an
      instrument in form and substance reasonably satisfactory to the Queens Buyer
      (the “Sagemark
      Queens Debt Release Instrument”),
      signed
      by Seller and Sagemark, canceling all indebtedness of the Queens LLC to Sagemark
      and Seller.

    

    2.3.
       Equipment
      Debt Assumption by Buyer.
      On and
      subject to the Closing Date, the Rockville Buyer and the Queens Buyer, as
      applicable, will obtain and deliver to Seller from those entities which leased
      the PET diagnostic imaging equipment to the Rockville Centre LLC and the Queens
      LLC and/or Sagemark and/or affiliates of Seller (collectively, the “Equipment
      Lenders”),
      on or
      before the Outside Date (a) assignment and assumption agreements, or similar
      documents, signed by both the Rockville Buyer and the Queens Buyer, as
      applicable, and the Equipment Lenders (and Seller and/or Sagemark and/or any
      third party, as guarantors thereunder, if necessary) (the “Assignment
      and Assumption Agreements”),
      pursuant to which all of the outstanding indebtedness of Seller, Sagemark and
      all affiliates thereof to the Equipment Lenders (collectively, the “Equipment
      Debt”)
      will be
      assigned to and assumed by the Rockville Buyer and the Queens Buyer, as
      applicable and/or the Rockville Centre LLC and/or the Queens LLC and (b)
      consents to the transfer of the Equity Interests to the Rockville Buyer and
      the
      Queens Buyer, as applicable, subject to the liens of such lenders therein.
      

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    2.4.
       Post-Closing
      Responsibility for LLC Indebtedness and Obligations.
      Buyer
      acknowledges that, in addition to the Equipment Debt, Sagemark is the lessee
      under Lease Agreements with independent landlords pursuant to which the
      Rockville PET Center and the Queens PET Center premises are leased (such Lease
      obligations, together with the Equipment Debt, are collectively referred to
      herein as the “LLC
      Debt Obligations”).
      From
      and after the Closing Date, the Rockville Buyer will be responsible for such
      obligations with respect to the Rockville Centre LLC and the Queens Buyer will
      be responsible for such obligations with respect to the Queens LLC.

    

    2.5.
       Restrictive
      Covenant Obligations.
      By its
      execution hereof, Sagemark hereby agrees to be bound by the applicable
      non-compete provisions of the Operating Agreements of the Rockville Centre
      LLC
      and the Queens LLC.

    

    3.    The
      Closing. 

    

    3.1.
      Closing.
      The
      closing of the transactions contemplated by this Agreement (the “Closing”)
      shall
      take place at the offices of Seller on February 11, 2008 (the “Closing
      Date”),
      or on
      such later date or at such other location on which Seller and Buyer may mutually
      agree in writing. In the event that the Closing does not occur on February
      11,
      2008, Seller or Buyer may terminate this Agreement, upon notice to the
      other.

    

    3.2.
      Closing
      Conditions.
      Seller’s
      and Buyer’s obligations to consummate the transactions contemplated by this
      Agreement on the Closing Date are subject to and conditioned upon the following:
      

    

    (a)
       Delivery
      to Buyer, in form and substance satisfactory to Buyer, of all of the documents
      and instruments referred to in Section 6 hereof; and 

    

    (b)
       delivery
      to Seller, in form and substance satisfactory to Seller, of all of the documents
      and instruments referred to in Section 7 hereof; and

    

    (c)
       receipt
      by Seller of the Initial Cash Payment in accordance with the provisions of
      Section 1.2(a) hereof; and

    

    (d)
       the
      accuracy and completeness, on the Closing Date, of all of Buyer’s and Seller’s
      representations and warranties set forth in Sections 4 and 5
      hereof.

    

    4.    Representations
      and Warranties of Seller.
      Seller
      represents and warrants to Buyer, as follows:

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    4.1.
       Organization
      and Standing.
      Seller
      is a corporation, validly existing, and in good standing under the laws of
      the
      State of Delaware, with full corporate power and authority to own, lease and
      operate its properties and to carry on its business as presently conducted.
      

    

    4.2.
      Authority;
      Binding Obligation.
      Seller
      has all requisite power and authority necessary for, and has taken all required
      action with respect to, the authorization, execution, delivery and performance
      of this Agreement and the consummation of the transactions contemplated hereby
      and this Agreement, when executed and delivered by Seller, will constitute
      a
      valid and legally binding obligation of Seller, enforceable in accordance with
      its terms, except (i) as the same may be limited by bankruptcy, insolvency,
      reorganization, moratorium, or other laws affecting generally the enforcement
      of
      creditors’ rights and by the effect of rules governing the availability of
      equitable remedies, and (ii) as rights to indemnity or contribution may be
      limited under federal or state securities laws or by principles of public policy
      thereunder.

    

    4.3. No
      Conflict.
      Seller
      has the right, power, legal capacity and authority to enter into and perform
      its
      obligations under this Agreement. Neither the authorization, execution, delivery
      and performance of this Agreement nor the consummation of the transactions
      contemplated hereby will violate any provision of the Certificate of
      Incorporation of Seller or violate or be in conflict with or constitute, with
      or
      without the passage of time or the giving of notice, either a default under
      any
      judgment, order, writ, decree, instrument, document or other agreement to which
      Seller is a party or by which it is bound, or an event which will create rights
      of acceleration, termination, cancellation, default or loss of rights
      thereunder, or result in the creation of any lien, claim, charge or encumbrance
      upon the Equity Interests, except as to the lien and security interest created
      in favor of Seller pursuant to Section 2.4 hereof.

    

    4.4.
      Ownership
      of the Equity Interests.
      The
      Rockville Centre Equity Interest represents a fifty-one percent (51%) equity
      interest in the Rockville Centre LLC and the Queens Equity Interest represents
      an eighty percent (80%) equity interest in the Queens LLC. Seller is the owner
      of record and beneficial owner of the Equity Interests and will sell and
      transfer the Equity Interests to the Rockville Buyer and the Queens Buyer,
      as
      applicable, on and subject to the Closing Date, subject to receipt of the
      Rockville Centre Purchase Price Cash Balance as provided herein, free and clear
      of all liens, claims or encumbrances of any kind (except for the existing lien
      and security interest of the Equipment Lenders therein). 

    

    4.5.
      No
      Litigation.
      Seller
      is not subject to any injunction, writ, judgment, order or decree of any court
      or governmental or other body which in any way relates to this Agreement or
      the
      transactions contemplated hereby. Seller is not a party or otherwise subject
      to
      any action, suit or proceeding in any way relating to this Agreement or the
      transactions contemplated hereby nor, to the best knowledge of Seller, is any
      such action, suit or proceeding threatened against Seller. There is no action,
      suit or proceeding by Seller relating in any way to this Agreement or the
      transactions contemplated hereby currently pending or which Seller intends
      to
      initiate. 

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    4.6.
      Broker’s
      or Finder’s Fees.
      Seller
      has not engaged or dealt with any broker, finder, or other person or entity
      who
      is entitled to any brokerage fee, commission or other compensation as a result
      of the execution of this Agreement and/or the consummation of the transactions
      contemplated hereby. 

    

    4.7.
       Effective
      Operating Agreements.
      To the
      best of Seller’s knowledge, the Operating Agreements of the Rockville Centre LLC
      and the Queens LLC, as amended through the date hereof, are in full force and
      effect and Seller is not in default thereunder; nothing contained in this
      Agreement shall affect any obligation of Seller under either of such Operating
      Agreements that, by the terms thereof, survive the sale of the Equity Interests
      hereunder and the termination of Seller’s status as a member of either the
      Rockville Centre LLC or the Queens LLC (including the indemnification provisions
      thereunder).

    

    4.8. No
      Other Representations or Warranties.
      Except
      as provided in this Section 4, Seller has made no other representation or
      warranty to Buyer under or in connection with this Agreement or the transactions
      contemplated hereby. 

    

    5.    Representations
      and Warranties of Buyer.
      Buyer
      represents and warrants to 

    Seller
      as
      follows:

    

    5.1.
      Organization
      and Standing.
      The
      Rockville Buyer and the Queens Buyer are limited liability companies, duly
      organized, validly existing, and in good standing under the laws of the State
      of
      New York with full power and authority to own, lease, and operate its properties
      and to carry on its business as currently conducted. 

    

    5.2.
      Authority;
      Binding Obligation.
      Buyer
      has all requisite power and authority necessary for, and has taken all required
      action with respect to, the authorization, execution, delivery and performance
      of this Agreement and the consummation of the transactions contemplated hereby
      and this Agreement, when executed and delivered by Buyer, will constitute a
      valid and legally binding obligation of Buyer, enforceable in accordance with
      its terms, except (i) as the same may be limited by bankruptcy, insolvency,
      reorganization, moratorium, or other laws affecting generally the enforcement
      of
      creditors‘ rights and by the effect of rules governing the availability
      of equitable
      remedies, and (ii) as rights to indemnity or contribution may be limited under
      federal or state securities laws or by principles of public policy
      thereunder.

    

    5.3.
      No
      Conflict.
      Buyer
      has the right, power, legal capacity and authority to enter into and perform
      its
      obligations under this Agreement. Neither the authorization, execution, delivery
      and performance of this Agreement nor the consummation of any of the
      transactions contemplated hereby will violate any provision of the Certificate
      of Formation of Buyer or violate or be in conflict with or constitute, with
      or
      without the passage of time or the giving of notice, either a default under
      any
      judgment, order, writ, decree, instrument, document or other agreement to which
      Buyer is a party or by which it is bound, or an event which will create rights
      of acceleration, termination, cancellation, default or loss of rights
      thereunder, or result in the creation of any lien, claim, charge or encumbrance
      upon the Equity Interests, except as to the lien and security interest in favor
      of the Equipment Lenders.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    5.4.
      No
      Litigation.
      Buyer is
      not subject to any injunction, writ, judgment, order or decree of any court
      or
      governmental or other body which in any way relates to this Agreement or the
      transactions contemplated hereby. Buyer is not a party or otherwise subject
      to
      any action, suit, or proceeding in any way relating to this Agreement or the
      transactions contemplated hereby nor, to the best knowledge of Buyer, is any
      such action, suit, or proceeding threatened against Buyer. There is no action,
      suit or proceeding by Buyer relating in any way to this Agreement or the
      transactions contemplated hereby currently pending or which Buyer intends to
      initiate. 

    

    5.5.
      Investment
      Representation.
      The
      Equity Interests are being acquired by the Rockville Buyer and the Queens Buyer,
      as applicable, for their own account, for investment purposes only, and not
      with
      a view to the resale or any distribution thereof within the meaning of the
      Securities Act of 1933, as amended (the “Securities
      Act”).
      Buyer
      understands and acknowledges that the Equity Interests are not registered under
      the Act, and that resale of the Equity Interests can only be made if registered
      or made in accordance with applicable exemptions or registration under the
      Act
      and otherwise in compliance with the Operating Agreements of the Rockville
      Centre LLC and the Queens LLC. 

    

    5.6.
      Broker’s
      or Finder’s Fees.
      Buyer
      has not engaged or dealt with any broker, finder, or other person or entity
      who
      is entitled to any brokerage fee, commission or other compensation as a result
      of the execution of this Agreement and/or the consummation of the transactions
      contemplated hereby. 

    

    5.7. Compliance
      with Obligations.
      The
      Rockville Buyer will cause the Rockville Centre LLC to timely make all payments
      and meet all other obligations under or with respect to the LLC’s Debt
      Obligations as to the Rockville Centre LLC and the Queens Buyer will cause
      the
      Queens LLC to timely make all payments and meet all other obligations under
      or
      with respect to the LLC’s Debt Obligations as to the Queens LLC so as to assure
      that neither Seller, Sagemark, nor any of their affiliated entities will have
      any obligation or responsibility thereunder, from and after the Closing
      Date.

    

    5.8. No
      Other Representations or Warranties.
      Except
      as provided in this Section 5, Buyer has made no other representation or
      warranty to Seller under or in connection with this Agreement or the
      transactions contemplated hereby. 

    

    6.    Documents
      to be Delivered by Buyer at the Closing.
      Buyer
      will deliver the following documents to Seller at the Closing:

    

    6.1.
       Payment
      by the Rockville Buyer of the Initial Cash Payment pursuant to Section 1.2(a)
      hereof; and

    

    6.2. such
      other
      certificates, documents and instruments required by this Agreement to be
      delivered by Buyer, or as Seller or its counsel may otherwise reasonably
      request, consistent with the provisions of this Agreement.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    7.    Documents
      to be Delivered by Seller at the Closing.
      Seller
      will deliver the following documents to Buyer at the Closing: 

    

    7.1.
       The
      original Certificates to the Rockville Buyer and the Queens Buyer, as
      applicable; 

    

    7.2.
       the
      Sagemark RC Debt Release Instrument and the Sagemark Queens Debt Release
      Instrument signed by Seller and Sagemark (in form and substance satisfactory
      to
      the Rockville Buyer and the Queens Buyer, as applicable); and

    

    7.3.
       such
      other certificates, documents and instruments required by this Agreement to
      be
      delivered by Seller, or as Buyer or its counsel may otherwise reasonably
      request, consistent with the provisions of this Agreement. 

    

    
      
        8.    Termination
          of Agreement Prior to Closing. 

      

    

    

    8.1.
      Termination
      Right.
      This
      Agreement may be terminated prior to the Closing Date as follows:

    

    
      
        (a)
          By
          mutual
          written consent of the parties hereto; or

      

    

     

    (b)
       by
      Seller
      or Buyer, as applicable, in the event that any of the conditions specified
      in
      Section 3.2 hereof are not satisfied or waived by the Closing Date.

    

    8.2.
      Remedies.
      The
      termination of this Agreement by Buyer or Seller under Section 8.1 above
      shall be Buyer’s or Seller’s, as the case may be, sole and exclusive remedy
      therefor and thereafter, neither Buyer nor Seller shall have any further rights
      or obligations under this Agreement. 

    

    9.     Termination
      of Agreement Post Closing.

    

    9.1.
       Conditions
      Subsequent.
      Notwithstanding any provision of this Agreement to the contrary, if any of
      the
      following documents or instruments are not obtained and delivered to Seller
      (or
      waived by Seller) by February 19, 2008 (or any later date approved by Seller)
      (the “Outside
      Date”),
      Seller
      may terminate this Agreement, in which case (i) Seller will refund the Initial
      Cash Payment to Buyer and (ii) Buyer will return the Certificates to Seller
      (with appropriate transfer documentation):

    

    (a)
       Payment
      to Seller of the Rockville Centre Purchase Price Cash Balance;

    

    (b)
      The
      Assignment and Assumption Agreements signed by the Rockville Buyer and the
      Queens Buyer, as applicable, the Equipment Lenders, and all other parties
      thereto (in form and substance satisfactory to Seller); and

    

    (c)
       Payment
      to Robert L. Blessey, Esq. of $35,000 representing Seller’s legal fees incurred
      in connection with the transactions contemplated by this Agreement.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

        

    9.2.
      Remedies.
      The
      termination and other rights set forth in Section 9.1 above shall be Buyer’s or
      Seller’s, as the case may be, sole and exclusive remedy and, t hereafter,
      neither Buyer nor Seller shall have any further rights or obligations under
      this
      Agreement.

    

    10.    Indemnification. 

    

    10.1.
       Indemnification
      by Buyer.
      Notwithstanding the Closing of the transactions contemplated by this Agreement,
      Buyer shall indemnify and fully defend, save and hold harmless (i) Seller (ii)
      any affiliate of Seller (i.e., any person or entity which directly or indirectly
      controls, or is under common control with, or is controlled by, Seller,
      including, without limitation, Sagemark), and (iii) each of Seller’s and
      Sagemark’s directors, officers, shareholders, agents, professionals, and
      employees (individually a “Seller
      Indemnitee”
      or
      collectively, the “Seller
      Indemnitees”)
      if and
      to the extent any Seller Indemnitee shall at any time or from time to time
      after
      the Closing, suffer any damage, liability, loss, cost, expense (including all
      reasonable attorneys’ fees and expenses), interest, penalty, imposition,
      assessment or fine (collectively, the “Seller
      Losses”)
      arising
      out of or resulting from, or shall pay or become obligated to pay any sum on
      account of, any of the Buyer’s Events of Breach. As used herein, “Buyer’s
      Events of Breach”
      shall be
      and mean any one or more of the following:

    

    (a) Any
      untruth or inaccuracy in any representation or warranty of Buyer or the breach
      of any representation, warranty, covenant or obligation of Buyer contained
      in
      this Agreement or in any certificate, document or instrument delivered to Seller
      hereunder; or

    

    (b) any
      failure of Buyer to perform or observe any term, provision, obligation, covenant
      or agreement contained in this Agreement; or

    

    (c)
       any
      obligation or liability of the Rockville Centre LLC and/or the Queens LLC from
      and after the Closing Date.

    

    10.2.
       Procedures
      for Indemnification by Buyer.
      If,
      with respect to a third party, Buyer’s Events of Breach occurs or is alleged and
      a Seller Indemnitee asserts that Buyer has become obligated to such Seller
      Indemnitee pursuant to Section 10.1 hereof (a “Seller
      Indemnity Claim”),
      or if
      any suit, action, investigation, claim or proceeding (a “Proceeding”)
      is
      begun, made or instituted by a third party as a result of which Buyer may become
      obligated to a Seller Indemnitee hereunder, such Seller Indemnitee shall give
      written notice promptly to Buyer. The failure to so notify Buyer shall not,
      however, release Buyer from any obligation or liability it may have to such
      Seller Indemnitee under such Section unless such failure materially prejudices
      Buyer. Buyer agrees to defend, contest or otherwise protect the Seller
      Indemnitee against any Seller Indemnity Claim or Proceeding at Buyer’s sole cost
      and expense. The Seller Indemnitee shall have the right, but not the obligation,
      to participate at its own expense in the defense thereof by counsel of the
      Seller Indemnitee’s choice and shall in any event cooperate with and assist
      Buyer to the extent reasonably possible in connection therewith. If Buyer fails
      timely to defend, contest or otherwise protect against such Seller Indemnity
      Claim or Proceeding, the Seller Indemnitee shall have the right to do so,
      including, without limitation, the right to make any compromise or settlement
      thereof, and the Seller Indemnitee shall be entitled to recover the entire
      cost
      thereof from Buyer, including, without limitation, reasonable attorneys’ fees,
      disbursements and amounts paid as the result of such Seller Indemnity Claim
      or
      Proceeding, and Buyer shall be bound by any determination made with respect
      to
      such Seller Indemnity Claim or Proceeding or any compromise or settlement
      effected by the Seller Indemnitee with respect thereto. If Buyer assumes the
      defense of any Seller Indemnity Claim or Proceeding, (a) it will be conclusively
      established for purposes of this Agreement that the claims made in that Seller
      Indemnity Claim or Proceeding are within the scope of and subject to
      indemnification hereunder, (b) no compromise or settlement of such claims may
      be
      effected by Buyer without the Seller Indemnitee’s written consent unless (i)
      there is no finding or admission of any violation of federal, state, local
      or
      municipal or other administrative order, law, ordinance, principal of common
      law, regulation, statute or any violation of the rights of any person and no
      effect on any other claims that may be made against the Seller Indemnitee and
      (ii) the sole relief provided is monetary damages that are paid in full by
      Buyer; and (c) the Seller Indemnitee will have no liability with respect to
      any
      compromise or settlement of such claims effected by Buyer. 

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    10.3.
       Successors
      and Assigns.
      All of
      the rights and obligations of Seller and Buyer pursuant to this Section 10
      are
      subject to the Closing of the transactions which are the subject of this
      Agreement, shall survive the Closing of the transactions contemplated by this
      Agreement and shall apply to and bind each and every successor and assign of
      Buyer.

    

    11.    Public
      Announcements.
      Buyer
      shall not make or disseminate any public filing or announcement concerning
      this
      Agreement or any of the transactions herein contemplated without Seller’s prior
      written consent. Buyer acknowledges that Sagemark is subject to the reporting
      requirements of the Securities Exchange Act of 1934, as amended, and Seller
      may
      make or disseminate public filings and/or announcements concerning this
      Agreement or any of the transactions herein contemplated as may be otherwise
      required by applicable law, rule or regulation. Buyer shall keep confidential
      and not disclose to any person (other than its attorneys, accountants, and
      advisers) or use any non-public information with respect to Seller obtained
      by
      Buyer in connection herewith, unless and until such information shall be
      publicly disclosed or disseminated by Seller.

    

    12.    Miscellaneous.

    

    12.1.
      Sole
      Agreement.
      This
      Agreement constitutes the sole and entire agreement between the parties hereto
      in respect of the transactions contemplated hereby and supersedes all prior
      agreements, arrangements, understandings, representations and warranties
      relating to the subject matter hereof. No amendment, change in, or modification
      to this Agreement shall be binding unless in writing and signed by the party
      to
      be bound thereby.

    

    12.2.
      Notices.
      All
      notices, consents, demands, requests, and other communications required or
      permitted to be given hereunder (the
      “Notices”)
      shall be
      in writing and shall be deemed to have been duly given on the same day if
      delivered personally, receipt acknowledged, or by facsimile transmission (with
      original to follow by first class mail),or by nationally recognized overnight
      courier service for next business day delivery, or three (3) days after mailing
      if mailed by certified mail, return receipt requested, addressed to the parties
      as follows (or to such other address as a party may designate as to itself
      by
      Notice to the other parties): 

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    (a)
      If to
      Seller, to it at its address set forth on the first page of this Agreement,
      to
      the attention of its President, with a copy to:

    

    Robert
      L.
      Blessey, Esq.

    c/o
      Gusrae Kaplan Bruno & Nusbaum, PLLC

    120
      Wall
      Street

    New
      York,
      New York 10005

    

    -and-

    

    George
      W.
      Mahoney, Chief Financial Officer

    The
      Sagemark Companies Ltd.

    4710
      N.W.
      Boca Raton Boulevard, Suite 200

    Boca
      Raton, FL 33431

    

    (b)
      If to
      Buyer, to it at the address set forth on the first page of this
      Agreement.  

    

    12.3. Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York with respect to contracts made and to be fully performed
      therein, without regard to the conflicts of laws principles thereof, except
      as
      to applicable Federal and state securities laws. The parties hereto hereby
      agree
      that any action, suit or proceeding arising under this Agreement shall be
      brought solely in a Federal or state court located in the City, County and
      State
      of New York, except for any action, suit or proceeding seeking an equitable
      remedy hereunder which may be brought in any court of competent jurisdiction.
      By
      their execution hereof, the parties hereto hereby consent and irrevocably submit
      to the in personam
      jurisdiction of the Federal and state courts located in the City, County and
      State of New York and agree that any process in any action, suit or proceeding
      commenced in such courts under this Agreement may be served upon them personally
      or by certified or registered mail, return receipt requested, or by Federal
      Express or other courier service, with the same force and effect as if
      personally served upon them in the City, County and State of New York. The
      parties hereto each waive any claim that any such jurisdiction is not a
      convenient forum for any such action, suit or proceeding and any defense of
      lack
      of in personam
      jurisdiction with respect thereto. 

    

    12.4.
      Binding
      Effect.
      This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors and permitted assigns. Nothing in this
      Agreement, whether expressed or implied, is intended to confer any rights or
      remedies upon or by reason of this Agreement on any persons other than the
      parties and signatories hereto, Sagemark and the Seller Indemnitees, and their
      respective successors and permitted assigns, nor is this Agreement, or any
      of
      the parties’ rights or obligations hereunder, assignable absent the written
      consent of the non-assigning parties. 

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    12.5.
      Counsel.
      The
      parties to this Agreement hereby acknowledge that they have been represented
      by
      separate counsel in connection with the negotiations and execution of this
      Agreement. Buyer has agreed to pay Seller’s legal fees in connection with the
      transactions contemplated by it in accordance with Section 9.1(c)
      hereof.

    

    12.6.
      Severability.
      Any
      provision of this Agreement which is determined to be invalid or unenforceable
      shall be ineffective to the extent of such invalidity or unenforceability
      without affecting in any way the remaining provisions hereof.

    

    12.7.
      Headings.
      The
      Section headings contained herein are for the purpose of convenience only and
      are not intended to define or limit the contents of said Sections. 

    

    12.8.
       Further
      Assurances.
      The
      parties hereto hereby agree that, at any time and from time to time upon the
      reasonable request of the other party hereto, they shall do, execute,
      acknowledge and deliver, or cause to be done, executed, acknowledged and
      delivered, such further acts, deeds, assignments, transfers, conveyances and
      assurances as may be reasonably required to more effectively consummate this
      Agreement and the transactions contemplated thereby or to confirm or otherwise
      effectuate the provisions of this Agreement, including, without limitation,
      any
      documents or instruments, if any, that may be required or requested by any
      of
      the Equipment Lenders with respect to their security interests in the Equity
      Interests.

    

    12.9. Expenses.
      Except
      as provided below in this Section, the parties hereto shall bear all of their
      own costs and expenses in connection with the negotiation, preparation,
      execution and performance of this Agreement. In any action, suit or proceeding
      brought by any party hereto to enforce any provision of this Agreement, the
      prevailing party shall be entitled to recover all costs and expenses incurred
      by
      it in connection with such action, suit or proceeding, including, but not
      limited to, all attorneys’ fees and disbursements. 

    

    12.10. Confidentiality.
      All
      information or documentation contained in this Agreement, or otherwise marked
      or
      confirmed in writing by any of the parties hereto as being “confidential
      information”, shall be kept confidential by those parties hereto receiving such
      information or documentation and shall not be used by any of such receiving
      parties otherwise than as herein contemplated except to the extent that (i)
      such
      information or documentation is now or hereafter becomes available in the public
      domain, (ii) it is or hereafter becomes lawfully obtainable from other sources
      or was disclosed prior to the date of this Agreement, (iii) it is necessary
      or
      appropriate to disclose to the Securities Exchange Commission or any other
      regulatory authority having jurisdiction over the parties or their subsidiaries
      or as may otherwise be required by law, or (iv) to the extent such duty as
      to
      confidentiality is waived by any of the parties disclosing such information
      or
      documentation. In the event of the termination of this Agreement, each party
      receiving such information or documentation shall use all reasonable efforts
      to
      return, upon request of the applicable party hereto, all such confidential
      information and documentation (and reproductions thereof) received from such
      other parties (and, in the case of reproductions, all such reproductions made
      by
      the receiving party).

    

    12.11.
      Third
      Party Beneficiaries.
      This
      Agreement shall not confer any rights or obligations upon any person or entity
      other than the parties hereto and their respective successors and permitted
      assigns, except that the Seller Indemnitees shall be deemed to be express third
      party beneficiaries of Section 10 of this Agreement. 

    

    12.12. Counterparts.
      This
      Agreement may be executed in one or more counterparts, all of which shall be
      considered one and the same agreement and shall become effective when one or
      more counterparts have been signed by each of the parties hereto and delivered
      to each of the other parties hereto.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Agreement on the day and year first
      written.

    

    
      	
              ATTEST:

            	
              PREMIER
                P.E.T. IMAGING INTERNATIONAL, INC.

            
	 	 
	 	 
	
              /s/
                Judah Wernick

            	
              By:
                /s/ Ron Lipstein

            
	
               

            	
              Ron
                Lipstein, President and Chief Executive Officer

            
	
              Print
                Name 

            	 
	 	 
	 	 
	
              WITNESS:

            	
              SAGEMARK
                ROCKVILLE, LLC

            
	 	 
	
              /s/
                Judah Wernick

            	
              By:
                /s/ Judah Wernick

            
	 	
              Member

            
	
              /s/
                Stephanie Pernal

            	 

    

     

    

      
        	
                WITNESS:

              	
                SAGEMARK
                  FOREST, LLC

              
	 	 
	
                /s/
                  Judah Wernick

              	
                By:
                  /s/ Judah Wernick

              
	
                 

              	
                Member

              
	
                /s/
                  Stephanie Pernal

              	 
	 	 
	 	 
	
                 

              	
                AGREED
                  TO AND ACCEPTED THIS 11TH DAY OF FEBRUARY
                  2008 ONLY AS TO SECTIONS 1.3(a), 1.3(b), 1.3(c) AND 12
                  HEREOF

              
	
                 

              	 
	 	 
	
                ATTEST:

              	
                P.E.T.
                  MANAGEMENT OF QUEENS, LLC

              
	 	 
	
                /s/
                  Judah Wernick

              	
                By:
                  /s/ Ron Lipstein

              
	 	
                Managing
                  Member 

              
	
                 

              	 
	 	 
	
                 

              	
                AGREED
                  TO AND ACCEPTED THIS 11TH DAY OF FEBRUARY
                  2008 ONLY AS TO SECTIONS 2.4 AND 12 HEREOF

              
	
                 

              	 
	 	 
	
                ATTEST:

              	
                THE
                  SAGEMARK COMPANIES LTD.

              
	 	 
	
                /s/
                  Judah Wernick

              	
                By:
                  /s/ Ron Lipstein

              
	
                 

              	
                Ron
                  Lipstein, President and Chief Executive
                  Officer

              

      

    

     

    
      
         

      

      
        13

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