Document:

Exhibit
10.1

    

    FOURTH AMENDMENT
TO

    NOTE AND CONSTRUCTION LOAN
AGREEMENT

     

    This
FOURTH AMENDMENT TO NOTE AND CONSTRUCTION LOAN AGREEMENT (this "Amendment")
is made to be effective as of _______________ _____, 2010 (the "Amendment
Effective Date") by and between BEHRINGER HARVARD MOCKINGBIRD COMMONS,
LLC, a Delaware limited liability company (successor in interest by merger to
Behringer Harvard Mockingbird Commons, LP, a Texas limited partnership) ("Borrower"),
and CREDIT UNION LIQUIDITY SERVICES, LLC, a Texas limited liability company
f/k/a TEXANS COMMERCIAL CAPITAL, LLC ("Lender").

     

    WHEREAS,
Borrower and Lender entered into that certain Construction Loan Agreement dated
as of September 30, 2005, pursuant to which Lender loaned to Borrower (the
"Loan")
up to the principal sum of $34,047,458.00 (as amended, the "Loan
Agreement") as further evidenced by one certain promissory note dated as
of September 30, 2005 in the original principal amount of $34,047,458.00,
executed by Borrower and payable to the order of Lender (as amended, the "Note");
and

     

    WHEREAS,
as security for the obligations of Borrower under the Loan Agreement and the
Note, Borrower executed and delivered to Lender, among other things, (i) that
certain Amended and Restated Deed of Trust, Security Agreement, Financing
Statement, and Assignment of Rental, dated September 30, 2005, executed by
Borrower to Joel B. Fox and/or John C. O’Shea, as trustee for the benefit of
Lender, covering the property described therein and recorded October 4, 2005 as
Instrument No. 200503532798, Official Records of Dallas County, Texas (as
amended, the "Deed of
Trust"); (ii) that certain Absolute Assignment of Leases and Rents from
Borrower to Lender, dated September 30, 2005, covering the property described
therein and recorded as Instrument No. 200503532799, Official Records of Dallas
County, Texas (the "Assignment");
and (iii) that certain Second Deed of Trust, Security Agreement, Financing
Statement, and Assignment of Rental ("Second
Deed of Trust") executed by Behringer Harvard Mountain Village, LLC, as
grantor, and Borrower, as borrower, filed October 29, 2009 as Reception No.
409591 in the official public records of San Miguel County, Colorado,
re-recorded on November 9, 2009 as Reception No. 409756 in the official public
records of San Miguel County, Colorado; and

     

    WHEREAS,
Borrower and Lender executed that certain First Amendment to Note and
Construction Loan Agreement dated as of September 24, 2008 (the "First
Amendment"), that certain Second Amendment to Construction Loan Agreement
dated as of March 20, 2009 (the "Second
Amendment"), and that certain Third Amendment to Note and Construction
Loan Agreement dated as of October 1, 2009 (the "Third
Amendment"); and

     

    WHEREAS,
in connection with the Loan, Behringer Harvard Mockingbird Commons GP, LLC, a
Texas limited liability company, and Behringer Harvard Short Term Opportunity
Fund I, LP, a Texas limited partnership (each a "Guarantor"
and collectively the "Guarantors")
entered into those certain Guaranty Agreements dated as of September 30, 2005
(as amended, the "Guaranty
Agreements"); and

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 1
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        Exhibit
10.1

      

    

    WHEREAS,
the Loan Agreement, Note, Deed of Trust, Assignment, Second Deed of Trust,
Guaranty Agreements and any and all other documents evidencing and/or securing
the indebtedness described in the Note, as same may have been previously
amended, are referred to collectively as the "Loan
Documents"; and

     

    WHEREAS,
Borrower and Lender have agreed to make certain changes to the Loan Documents,
and desire to enter into this Amendment to document such changes;

     

    NOW
THEREFORE, for valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Borrower and Lender agree as follows:

     

    1.           Defined
Terms.  Each capitalized term used but not defined herein has
the meaning assigned to such term in the Loan Agreement or the other Loan
Documents.

     

    2.           Amendment.  Section
9 of the Third Amendment is hereby amended to delete the reference to "September
30, 2010" and insert a reference to "January 15, 2011" in lieu
thereof.

     

    3.           Principal
Payment.  As a condition precedent to the effectiveness of this
Amendment, Borrower shall on the Amendment Effective Date, make a mandatory
prepayment on the Loan of One Hundred Thousand and No/100 Dollars
($100,000).

     

    4.           Further
Amendments.  Any and all of the terms and provisions of the
Loan Documents are hereby amended and modified wherever necessary, and even
though not specifically addressed herein, so as to conform to the modifications
set forth herein.

     

    5.           Confirmation of Loan
Documents.  Borrower and Guarantors covenant, represent, and
warrant to Lender as follows:

     

    (a)           The
principal balance of the Loan as of the Amendment Effective Date, but prior to
giving effect to the prepayment contemplated by Section 3, is Twenty-four
Million Nine Hundred Fifty Thousand One Hundred One and 06/100 Dollars
($24,950,101.06).

     

    (b)           Neither
Borrower nor any Guarantor has any defenses, counter-claims or offsets to the
Note, Deed of Trust, or any other Loan Document, as modified
herein;

     

    (c)           Borrower
and each Guarantor waive any and all defenses, counter-claims, or offsets to the
enforcement of the Note, Deed of Trust, Guaranty Agreements, or any other Loan
Document, as modified, renewed, and extended herein, whether known or unknown;
and

     

    (d)           The
Note, Deed of Trust, Guaranty Agreements, and all other Loan Documents, as
modified, renewed, and/or extended herein, are in full force and
effect.

     

    6.           Confirmation of Liens and
Security Interests.  Borrower hereby renews and confirms the
liens, security interests, and rights of any and all security for the Note
(including, without limitation, the liens, security interests, and rights of the
Deed of Trust), which are hereby acknowledged by Borrower to be valid and
subsisting against the Property.

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 2
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        Exhibit
10.1

      

    

    7.           Borrower’s
Representations.  Borrower and Guarantors represent and warrant
to Lender, and covenant and agree with Lender, as follows:

     

    (a)           Borrower
and each Guarantor have the power and requisite authority to execute, deliver,
and perform their obligations hereunder and under the Loan Documents, and are
duly authorized, and have taken all necessary action to authorize such persons
or entities to execute, deliver and perform this Amendment, the other documents
executed in connection herewith (if any) and the Loan Documents and will
continue to be duly authorized to perform their obligations under such
agreements.

     

    8.           Release.  Effective
as of the Amendment Effective Date, and in consideration for this Amendment and
all documents executed herewith, Borrower and Guarantors agree as
follows:

     

    A.           For
the time period existing on and prior to the Amendment Effective Date and
relating exclusively to the Loan Documents and the loan memorialized therein,
Borrower and Guarantors fully and finally release and discharge Lender (and its
officers, directors, shareholders, representatives, employees, agents, and
attorneys) of and from any and all defaults, potential defaults occurring on or
prior to the Amendment Effective Date, claims, damages or causes of action to,
of or for the benefit (whether directly or indirectly) of, Borrower or any
Guarantor, at law or in equity, known or unknown, contingent or otherwise,
whether asserted or unasserted, whether statutory, in contract or in tort, as
well as any other kind or character of action now held, owned or possessed
(whether directly or indirectly) by Borrower or any Guarantor on account of,
arising out of, related to or concerning, whether directly or indirectly,
proximately or remotely, the Loan Documents and accruing or relating to the
period prior to the Amendment Effective Date (collectively, the "Released
Claims");

     

    B.   
        In addition to the release set
forth above, and not in limitation thereof, Borrower and each Guarantor each
agree that it or he will never prosecute, or voluntarily (unless required by
law) aid in the prosecution of, any of the Released Claims, whether by claim,
counterclaim or otherwise.

     

    9.           Lender’s
Representations.  Lender represents and warrants to Borrower as
follows:

     

    (a)           Lender
has the power and requisite authority to execute, deliver and perform its
obligations hereunder and is duly authorized, and has taken all necessary action
to authorize the person executing this Amendment, to execute and deliver this
Amendment.

     

    10.         Expenses of
Lender.  Borrower shall be responsible for all of Lender's
costs and expenses incurred in connection with the preparation, negotiation and
execution of this Amendment, the other documents executed pursuant hereto and
any additional costs and expenses incurred in connection herewith, which fees
must be paid by Borrower to Lender as a condition precedent to the effectiveness
of this Amendment.

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 3
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        Exhibit
10.1

      

    

    11.         Joinder of
Guarantors.  Each Guarantor hereby (i) consents to the
execution of this Amendment and acknowledges and consents to the terms and
provisions hereof, (ii) ratifies, confirms and agrees that there are no
claims or offsets against, or defenses or counterclaims to, the terms and
provisions of, and the obligations created and evidenced by, the Note or the
Guaranty executed by such Guarantor, and (iii) certifies that the
representations and warranties contained herein are, in all material respects,
true and correct representations and warranties as of the date
hereof.  The provisions set forth in Section 23 of the Guaranty
executed by Behringer Harvard Mockingbird Commons GP, LLC and in Section 24 of
the Guaranty executed by Behringer Harvard Short Term Opportunity Fund I, LP are
hereby specifically confirmed as being in full force and effect.

     

    12.         Counterparts.  This
Amendment may be executed in any number of counterparts, all of which taken
together shall constitute one and the same agreement, and any of the parties
hereto may execute this Amendment by signing any such
counterpart.  Facsimile or electronic signatures shall be effective as
originals.

     

    13.         Modification.  This
Amendment cannot be changed except by an instrument in writing signed by the
party against whom the enforcement of any change is sought.  THIS
AMENDMENT AND THE LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN
ORAL AGREEMENTS BETWEEN THE PARTIES.

     

    [Signature Pages
Follow]

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 4
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        Exhibit
10.1

      

    

    EXECUTED
as of the Amendment Effective Date.

     

    
      
        
          	 
      	
                  BORROWER:

                
	 
      	 
      
	 
      	
                  BEHRINGER
      HARVARD MOCKINGBIRD COMMONS,

                  LLC, a Delaware limited
      liability company

                
	 
      	 
      	 
      
	 
      	
                  By:

                	
                  Behringer
      Harvard Mockingbird Commons GP, LLC,

                
	 
      	 
      	
                  a
      Texas limited liability company,

                
	 
      	 
      	
                  its
      manager

                
	 
      	 
      	 
      
	 
      	 
      	
                  By:

                	 
      	 
      
	 
      	 
      	 
      	
                  Gary
      S. Bresky

                	 
      
	 
      	 
      	 
      	
                  Chief
      Financial Officer

                	 
      

        

      

    

     

    
      
        	
                STATE
      OF TEXAS

              	
                §

              
	 
      	
                §

              
	
                COUNTY
      OF DALLAS

              	
                §

              

      

    

     

    This
instrument was acknowledged before me on this ___ day of _________________,
201__, by Gary S. Bresky, as Chief Financial Officer of Behringer Harvard
Mockingbird Commons GP, LLC, a Texas limited liability company, in its capacity
as the manager of Behringer Harvard Mockingbird Commons, LLC, a Delaware limited
liability company, on behalf of said manager acting on behalf of said limited
liability company.

     

    
      
        	 
      	 
      
	 
      	
                Notary
      Public in and for the State of
Texas

              

      

    

     

    (SEAL)

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 5
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        Exhibit
10.1

      

    

     

    EXECUTED
as of the Amendment Effective Date.

     

    
      
        
          	 
      	
                  LENDER:

                
	 
      	 
      
	 
      	
                  CREDIT
      UNION LIQUIDITY SERVICES,

                  LLC, a Texas limited
      liability company

                  (formerly
      known as Texans Commercial

                  Capital)

                
	 
      	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	
                  Name:

                	 
      
	 
      	
                  Title:

                	 
      

        

      

    

     

    
      
        	
                STATE
      OF TEXAS

              	
                §

              
	 
      	
                §

              
	
                COUNTY
      OF _________

              	
                §

              

      

    

    

    On this
_____ day of _______________ 201__, before me, the undersigned Notary Public in
and for the State of ____________, personally appeared _________________________
to me personally known who being by me duly sworn did say that s/he is the
_________________________ of Credit Union Liquidity Services, LLC, a Texas
limited liability company, executing the foregoing instrument, that the
instrument was signed on behalf of the limited liability company by authority of
the limited liability company; and said _________________________ acknowledged
the execution of the instrument to be the voluntary act and deed of the limited
liability company.

    

    Witness
my hand and official seal.

    

    
      
        	 
      	 
      
	 
      	
                Notary
      Public

              

      

    

    

    My
commission expires:___________________

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 6
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        Exhibit
10.1

      

    

    Guarantors
expressly consent and agree to the modifications and terms contained in this
Amendment:

     

    
      
        
          	 
      	
                  GUARANTOR:

                
	 
      	 
      
	 
      	
                  BEHRINGER
      HARVARD MOCKINGBIRD COMMONS GP, LLC

                
	 
      	
                  a
      Texas limited liability company

                
	 
      	 
      	 
      
	 
      	
                  By:

                	 
      	 
      
	 
      	 
      	
                  Gary
      S. Bresky

                	 
      
	 
      	 
      	
                  Chief
      Financial Officer

                	 
      

        

      

    

     

    
      
        	
                STATE
      OF TEXAS

              	
                §

              
	 
      	
                §

              
	
                COUNTY
      OF DALLAS

              	
                §

              

      

    

    

    This
instrument was acknowledged before me on this ___ day of
__________________________, 201__, by Gary S. Bresky, as Chief Financial Officer
of Behringer Harvard Mockingbird Commons GP, LLC, a Texas limited liability
company, on behalf of said limited liability company.

     

    
      
        	 
      	 
      
	 
      	
                Notary
      Public in and for the State of
Texas

              

      

    

     

    (SEAL)

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 7
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        Exhibit
10.1

      

    

    Guarantors
expressly consent and agree to the modifications and terms contained in this
Amendment:

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	
                                      GUARANTOR:

                                    
	 
      	 
      	 
	 
      	
                                      BEHRINGER
      HARVARD SHORT-TERM OPPORTUNITY FUND I LP

                                    
	 
      	
                                      a
      Texas limited partnership

                                    
	 
      	 
      	 
      	 
	 
      	
                                      By:

                                    	
                                      Behringer
      Harvard Advisors II LP,

                                    
	 
      	 
      	
                                      a
      Texas limited partnership,

                                    
	 
      	 
      	
                                      its
      general partner

                                    
	 
      	 
      	 
      	 
	 
      	 
      	
                                      By:

                                    	
                                      Harvard
      Property Trust, LLC

                                    
	 
      	 
      	 
      	
                                      a
      Delaware limited liability company,

                                    
	 
      	 
      	 
      	
                                      its
      general partner

                                    
	 
      	 
      	 
      	 
      	 
	 
      	 
      	 
      	
                                      By:

                                    	 
      	  
      
	 
      	 
      	 
      	 
      	
                                      Gary
      S. Bresky

                                    	 
	 
      	 
      	 
      	 
      	
                                      Chief
      Financial Officer

                                    	 

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        	
                STATE
      OF TEXAS

              	
                §

              
	 
      	
                §

              
	
                COUNTY
      OF DALLAS

              	
                §

              

      

    

    

    This
instrument was acknowledged before me on this ___ day of
____________________________, 201__, by Gary S. Bresky, as Chief Financial
Officer of Harvard Property Trust, LLC, a Delaware limited liability company, in
its capacity as the general partner of Behringer Harvard Advisors II LP, a Texas
limited partnership, in its capacity as the general partner of Behringer Harvard
Short-Term Opportunity Fund I LP, a Texas limited partnership, for and on behalf
of said entities.

     

    
      
        	 
      	 
      
	 
      	
                Notary
      Public in and for the State of
Texas

              

      

    

     

    (SEAL)

     

    
      CULS /
Behringer Harvard Mockingbird Commons, LLC

      Fourth
Amendment to Note and Loan Agreement

    

    
      
         

      

      
        - 8
-Unassociated Document

     

    
      Property
Purchase Agreement

      

      Basic
information of the relevant Parties:

      

      Seller:

      Company
Name: Shenzhen
Jianhuilong Industry Co., Ltd.

      Business
License No.: 4403012118591,

      Address:
Room 1605, Leizhen Building, No. 40, Fuming
Road, Futian District, Shenzhen,

      Post
Code: 518100

      Legal
Representative: Zhou
Yan, Telephone: 13751093270

      Identity
Card/Passport No.: ______________________

      Agent:
______________________, Telephone: ________________

      Identity
Card/Passport No.: ___________________

      Address:
______________, Post Code: _____________________

      

      Buyer:

      Company
Name: Shenzhen YuePengCheng Motor Co., Ltd.

      Business
License No.:  440306501123786    

      Address:
2nd
Fuyuan Road, Fuyong Hi-Tech Zone, Bao’An District, Shenzhen

      Post
Code: 518103

      Legal
Representative: Li
Jianrong, Telephone: 13802202980

      Identity
Card/Passport No.: 440306196210050107

      Agent:
______________________, Telephone: ________________

      Identity
Card/Passport No.: ___________________

      Address:
______________, Post Code: _____________________

      

      Article
1                      Target
of Transfer

      

      The
property which the Seller contemplates to transfer (the "Property") is located
in 2nd Fuyuan
Road, Fuyong Hi-Tech Zone, Baoan District, Shenzhen.

      

      The
Property is covered by six Property Title Certificates (the "Certificates")
which are listed respectively as follows:

      

      
        	
                 

                Property
      Name

              	
                 

                Certificate
      number

              	
                 

                Location

              	
                 

                Construction
      Area (m2)

              	
                 Registered
      Purchase Price (RMB)

              	
                 

                Registration
      Date

              
	
                Plant
      No. 6, Guangyang Electric Motor Industrial Zone

              	
                Shenfangdizi No.
      5000318969

              	
                2nd
      Fuyuan Road, Fuyong Hi-Tech Zone, Baoan District, Shenzhen

              	
                6,628.56

              	
                18,559,968.00

              	
                June
      26, 2008

              
	
                Plant
      No. 7, Guangyang Electric Motor Industrial Zone

              	
                Shenfangdizi No.
      5000318970

              	
                2nd
      Fuyuan Road, Fuyong Hi-Tech Zone, Baoan District, Shenzhen

              	
                6,326.54

              	
                17,714,312.00

              	
                June  26,
      2008

              
	
                Plant
      No. 8, Guangyang Electric Motor Industrial Zone

              	
                Shenfangdizi No.
      5000318971

              	
                2nd
      Fuyuan Road, Fuyong Hi-Tech Zone, Baoan District, Shenzhen

              	
                6,340.00

              	
                17,752,000.00

              	
                June
      26, 2008

              
	
                Office
      Building, Guangyang Electric Motor Industrial Zone

              	
                Shenfangdizi No.
      5000318972

              	
                2nd
      Fuyuan Road, Fuyong Hi-Tech Zone, Baoan District, Shenzhen

              	
                10,612.60

              	
                34,809,328.00

              	
                June
      26, 2008

              
	
                Residential
      Building of  Guangyang Electric Motor Industrial
      Zone

              	
                Shenfangdizi No.
      5000318973

              	
                2nd
      Fuyuan Road, Fuyong Hi-Tech Zone, Baoan District, Shenzhen

              	
                5,395.63

              	
                16,078,977.00

              	
                June  26,
      2008

              
	
                Power
      Supply Room

              	
                Shenfangdizi No.
      5000318974

              	
                2nd
      Fuyuan Road, Fuyong Hi-Tech Zone, Baoan District, Shenzhen

              	
                227.36

              	
                   636,608.00

              	
                June
      26, 2008

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      The land
use right in connection with the Property is valid during the period from May,
28, 2007 to May 27, 2057. The construction of the Property was completed in
January 2008.

      

      Article
2    Current Status of the
Property Right

      

      Shenzhen
Jianhuilong Industry Co., Ltd. is registered as the sole owner of the Property
under the Certificates. No mortgage or security is created over the
Property.

      

      Article
3    Leasehold of the
Property

      

      The
current status of the leasehold of the Property is as follows:

      

      The
Property is subject to the following two lease contracts attached hereto as
Appendix: (i) one lease contract bearing the contract registration number of
Bao
0066050, providing for the monthly rent of RMB twenty five thousand five
hundred (RMB25,500), with the lease term from March 1, 2010 to March 31, 2012;
and (ii) the other lease contract bearing the contract registration number of
Bao
1690060, providing for the monthly rent of RMB sixty nine thousand six
hundred (RMB69,600.00), with the lease term from April 1, 2010 to March 31,
2012. The tenants under such two lease contracts being the Buyer hereunder, both
Parties agree to dispose of the lease contracts in the following manner: upon
transfer of the property right of the Property, the original lease contracts
shall terminate automatically and the rent thereunder shall be due and payable
for the period ending on the execution date of this Agreement and the Seller
shall refund to the Buyer the lease deposit and the prepaid rent (if any) which
the Buyer has already paid to the Seller pursuant to the lease
contracts.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      Article
4    Property
Management

      

      Currently,
the property management right of the Property belongs to the Seller. Upon
completion of government registration with respect to the transfer of the
Property right from the Seller to the Buyer, such property management right
shall be transferred to the Buyer accordingly.

      

      Article
5    Purchase
Price

      

      The total
purchase price of the Property shall be RMB one hundred seventy million nine
hundred thirty four thousand seven hundred and fourteen (RMB170,934,714.00), net
of taxes and fees (the "Purchase Price").

      

      Article
6    Earnest
Money

      

      The
earnest money for the transfer of the Property shall be RMB fifteen million
(RMB15,000,000) (the "Earnest Money"). The Buyer agrees to pay the Earnest Money
to the Seller at the execution date of this Agreement.

      

      It is
suggested that the Earnest Money be deposited under an escrow account to be
opened with a bank as agreed upon by both Parties. The Earnest Money shall be
deemed as receipt by the Seller when the Earnest Money hits such escrow account.
The Earnest Money shall be deemed as a portion of the Purchase Price paid upon
completion of the government registration of transfer of the Property
right.

      

      Article
7    Guarantee Money for
the Transfer of the Property

      

      In order
to prevent any risk associated with the transaction hereunder and to ensure the
timely transfer of the Property and settlement of all the payments by the
Seller, both Parties agree to deduct RMB three million four hundred thousand
(RMB3,400,000.00) from the Purchase Price as the guarantee money for the
transfer of the Property (that gurantee money shall be no more than 2% of the
Purchase Price) (the "Guarantee Money") by the Seller. The Guarantee Money shall
be paid to the Seller upon actual transfer of the Property by the Seller and
completion of the government registration of transfer of the Property right. The
Guarantee Money shall be treated in the manner as provided in item
(ii):

      

      (i)           The
Guarantee Money shall be controlled by an intermediary party;

      

      
        	
                (ii)

              	
                The
      Guarantee Money shall be paid by the Buyer in one installment after the
      government registration of transfer of the Property right is completed and
      new certificates for the Property are issued to the
  Buyer.

              

      

      

      Article
8    Payment
Method

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      Any
amount paid by the Buyer (including the Earnest Money and the Purchase Price)
shall be held on escrow through an escrow account opened with a bank as agreed
upon by both Parties, unless specially otherwise provided. Save for the
foregoing Earnest Money and the Guarantee Money, the Buyer shall pay the
Purchase Price of RMB one hundred fifty two million five hundred thirty four
thousand seven hundred and fourteen (RMB152,534,714.00) as provided in item (i)
as follows:

      

      (i)           Payment
in one installment

      

       
The Buyer shall deposit such amount before January 31, 2011 into
an escrow account opened with a bank as agreed upon by both
Parties;

      

      (ii)           Payment
though bank mortgage loan;

      

      
        	
              	
                (a)

              	
                Save
      for the Earnest Money and the Guarantee Money, the Buyer shall pay the
      remaining amount of  RMB __________ (RMB____________) to the
      escrow account opened with a bank as agreed upon by both Parties no later
      than ____________;

              

      

      

      
        	
              	
                (b)

              	
                The
      Buyer shall deliver any documents for application for the mortgage loan to
      the bank and cooperate with such bank to complete the bank approval
      procedure. The amount of the mortgage loan shall be the amount which the
      bank undertakes to extend;

              

      

      

      
        	
              	
                (c)

              	
                In
      the event that the loan the bank undertakes to extend is not sufficient to
      pay the remaining part of the Purchase Price, both Parties agree to handle
      the situation as provided in item
____:

              

      

      

      
        	
                 
      

              	
                (x)

              	
                The
      Buyer shall make the full payment of the remaining part of the Purchase
      Price within 3 days as of the date of the letter of undertaking for the
      Loan issued by the bank;

              

      

      

      
        	
                 
      

              	
                (y)

              	
                The
      Agreement shall terminate and the Seller shall refund any amount paid by
      the Buyer within 3 days after the termination of this Agreement.
      or

              

      

      

      (iii)
Other payment method as agreed upon by both Parties:
___________________

      

       Article
9    Liability of the
Buyer for Late Payment

      

      If the
Buyer makes any late payment (unless such late payment is owing
to  the bank), the Seller is entitled to require the Buyer to assume
the liability for breach as provided in item (i) as follows:

      

      
        	
                (i)

              	
                The
      Buyer shall pay liquidated damages at the rate of 0.04% of the amount of
      the overdue payment per day of delay and the performance of this Agreement
      will be continued;

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                (ii)

              	
                The
      Seller is entitled to terminate this Agreement and require the Buyer to
      pay liquidated damages amounting to ____% of the Purchase
      Price.

              

      

      

      Article
10    Taxes
and Fees

      

      According
to the relevant regulations,

      

      
        	
                (i)

              	
                the
      following taxes and fees (if any) shall be borne by the Seller: (i)
      business tax, (2) urban construction and maintenance tax, (3) educational
      surtax, (4) stamp tax, (5) individual income tax, (6) land
      appreciation tax, (7) property transaction service fee, (8) land use fee,
      (9) interests of early repaid short-term loan, and (10) penalty for early
      repayment; and

              

      

      

      
        	
                (ii)

              	
                the
      following taxes and fees (if any) shall be borne by the Buyer: (11) stamp
      tax, (12) deed tax; (13) property right registration fee; (14) property
      transaction service fee; (15) costs for stamped property certificates;
      (16) mortgage registration fee; (17) notarization fee for the loan
      (mortgage) contract; (18) notarization fee for a power of
      attorney.

              

      

      

      
        	
                (ii)

              	
                Other
      costs: (19) trade right investigation fee; (20) notarization fee for the
      property purchase agreement; (21) appraisal fee; (22) legal fee; (23)
      insurance premium; (24) other applicable fees (subject to actually
      incurred amount).

              

      

      

      Upon
consultation, both Parties agree that:

      

      The taxes
under item (1) through item (10) shall be borne by the Seller and the taxes
under item (11) through item (24) shall be borne by the Buyer.

      

      Any new
taxes and fees due to any changes in any laws, regulations and rules of the PRC
shall be paid in the manner as provided in item (i):

      

      
        
          	
                	
                  (i)

                	
                  by
      the Party as required by law, regulations or
  rules;

                

        

      

      

      
        
          	
                	
                  (ii)

                	
                  by
      ____ as agreed upon by both Parties;
or

                

        

      

      

      
        
          	
                	
                  (iii)

                	
                  by
      the Seller at the percentage of ___ % and by the Buyer at the percentage
      of ___ %.

                

        

      

      

      In case
of any change of the paying parties for the foregoing taxes which shall be borne
by the Seller and/or the Buyer upon negotiation between both Parties, the legal
responsibility shall remain unchanged.

      

      In the
event that any Party fails to pay any taxes as agreed or as provided by any
laws, regulations, that render impossible the consummation of the transaction
hereunder, the defaulting Party shall pay 5% of the Purchase Price to the
non-defaulting Party as the liquidated damages.

      

      Article
11    Transfer of the
Property

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      The
Seller shall complete the Property right transfer registration, transfer the
Property to the Buyer and handle the following matters within 30 days upon
execution of this Agreement:

      

      
        
          	
                	
                  (i)

                	
                  inspect
      jointly with the Buyer the status of the Property and verify the list of
      the accessory facilities and equipment, decoration and fitting out works
      and other objects, record water meters, electricity meters and gas meters,
      and complete the hand-over
procedures;

                

        

      

      

      
        	
              	
                (ii)

              	
                deliver
      the keys of the Property to the Buyer;
and

              

      

      

      
        	
              	
                (iii)

              	
                hand
      over the property management right of the Property to the
      Buyer.

              

      

      

      Article
12    Liability for Late
Transfer of the Property by the Seller

      

      If the
property right registration and the transfer of the Property fail to be
completed in a timely manner due to any reasons attributable by the Seller, the
Seller shall pay liquidated damages at the daily rate of 0.04% as penalty to the
Buyer while the performance of this Agreement by both Parties shall be
continued.

      

      Article
13    Settlement of the
Outstanding Indebtedness

      

      Upon
completion of the transfer of the Property, the Seller shall have settled the
payment of any accrued fees related to the water, electricity, gas, telephone,
cable television, property management and garbage clearance as incurred by the
Property, and the Seller shall provide the Buyer with the relevant receipts to
confirm such payment. Failing to do so, the Buyer is entitled to deduct any
outstanding payment from the Guarantee Money.

       

      Article
14    Property Right
Transfer Registration

      

      Both
Parties shall handle jointly the transfer registration procedure with the
department in charge of the property right registration within 30 days upon
execution of this Agreement.

      

      Both
Parties shall make payment of the relevant taxes and fees within 5 days upon
expiry of the notice period as indicated in the acknowledgement
receipt.

      

      The Buyer
shall be entitled to collect the newly issued certificates of the
Property.

      

      Article
15    Other
Liabilities for Breach

      

      In the
event that any Party fails to perform its obligations under this Agreement that
render impossible the achievement of the purpose of this Agreement, the
non-defaulting Party is entitled to choose either the Earnest Money or 5% of the
Purchase Price payable by the defaulting Party as the liquidated
damages.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      Article
16    Force
Majeure

      

      If any
Party is unable to perform any of its obligations under this Agreement due to
any force majeure event, such Party shall be exempted from performing its
obligation wholly or partially to the extent of the impact resulted from such
force majeure event, unless otherwise stipulated by law. The Party who is unable
to perform its obligations  due to a force majeure event shall notify
the other Party promptly and shall deliver the relevant supporting documents to
the other Party after the end of the force majeure event.

       

      Article
17    Resolution of
Conflict between this Agreement and other Documents

      

      In the
event that this Agreement is in conflict with any national laws and regulations,
such laws and regulations shall prevail. This Agreement and any supplemental
agreements executed after the execution date of this Agreement shall have the
same legal effect.

      

      Article
18    Appendixes

      

      Two
appendices are attached to this Agreement forming an integral part of this
Agreement and shall have the same legal effect as this Agreement.

      

      Article
19    Governing Law and
Dispute Resolution

      

      Both
Parties agree to settle any dispute in connection with this Agreement through
consultation. In the event that a settlement cannot be reached, such dispute
shall be resolved in accordance with the laws of the People's Republic of China
as provided in item (i) below:

      

      (i)
through arbitration processed by Shenzhen Arbitration Commission;

      

      (ii)
through arbitration processed by China International Economic and Trade
Arbitration Commission, South China Sub-Commission; and

      

      (iii)
through legal proceeding initiated at the People's Court.

      

      Article
20    Counterpart and
Holding

      

      This
Agreement shall be executed in three (3) counterparts: one (1) copy for the
Seller , one (1) copy for the Buyer and the third copy for the delivery to the
relevant authority.  All the copies shall have the same legal
effect.

      

      Article
21    Effectiveness

      

      This
Agreement shall take effect upon the signings and affixing company chops by both
Parties.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        
          	
                  Seller:

                   

                  Signature: /s/ Zhou
      Yan  [Company Seal]

                   

                   

                   

                   

                  Seller
      Agent:

                  (signature
      & company chop)

                   

                	
                  Buyer:

                   

                  Signature: /s/ Li
      Jianrong  [Company Seal]

                   

                   

                   

                   

                  Buyer
      Agent:

                  (signature
      & company chop)

                
	
                   

                   

                  December
      31, 2010

                	
                   

                   

                  December
      31, 2010

                

        

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      Appendices:

      

      
        	
                1.  

              	
                Lease
      Contract (registration number: bao
      0066050)

              

      

      
        	
                2.  

              	
                Lease
      Contract (registration number: bao
      1690060)

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