Document:

Exhibit 10.9
	

	
Guarantee Agreement of Bank of Chongqing
	
	
(English Translation)
	
	
 
	
	
 
	
	
 
	
	
 
	
	
Party A (Loaner): Guiyang Branch , Bank of Chongqing Co., Ltd.
	
	
 
	
	
 
	
	
 
	
	
 
	
	
Party B (Guarantor): Bai Yulu, Ji Yudong, Zeng Yi, Shi Bei
	

 

 

 

Bank of Chongqing Co., Ltd. 

Guarantee Agreement 

Contract Code: (CYQB) Zi No. 0579 (2011) 

Party A (Guarantee/Loaner): Guiyang Branch, Bank of Chongqing Co., Ltd.

Address: Suites #1, 2, 3, Shengshi Huating, No. 51, Jiefang Road, Nanming District, Guiyang

Tel: 0851-8577397                                                       Fax: 0851-8577377 

Person in Charge: Huang Changsheng                   Position: Director 

Party B (Guarantor): Bai Yulu, Ji Yudong, Zeng Yi, Shi Bei 

Address: Suite 18, 24F, No. 3, Caozhuangyuan Street, Nanming District, Guiyang, Guizhou; Suite 2, 30F, Building B, No. 60, North Zhonghua Road, Yunyan District, Guiyang; Suite 8, 2F, Unit 2, No. 30, East Sanmin Road, Yunyan
District, Guiyang, Guizhou; Suite 17-3, Xindongmenwai, Defeng Township, Liping County, Guizhou 

Tel:           _____________________________________                                      Fax: _________________________

Person in Charge: __________________________                                       Position: _____________________ 

Legal Representative: _______________________                                       Position: _____________________

In order to guarantee performance of the Circulating Fund Load Contract of Bank of Chongqing (hereinafter referred to as Main Contract) coded (CYQD) Zi No. 0577 (2011) entered into by and between Party A and
Qian Xi Nan Aosen Forestry Company, Limited (hereinafter referred to as Loanee) on June 29th, 2011, Party B are willing to provide guaranty to Party A as guarantor for the Loanee under the Main Contract. Party
A and Party B hereby agree to enter into this contract through negotiation according to the Guarantee Law of the People’s Republic of China, and are willing to observe the following terms. 

Article 1 Scope of Guaranty. Scope of guaranty hereunder is 1 below: 

1. All principal, interest, default interest, compound interest and expenses arising from the realization of Loaner’s rights of the loan to be born by the Loanee hereunder. The amount of the principal is RMB TWENTY MILLION YUAN ONLY (in word). The interest, default interest and compound interest are to be calculated as agreed upon herein. 

2.
___________________________________________________________________________________________________________________________________           

Article 2 Term of Guaranty. Term of guaranty hereof lasts for two extra years in addition to the period from effective date of the Contract to expiration date of the Main Contract. During the guaranty, if Party A transfers his credit to a
third party according to law, Party B shall continue to assume his guaranty liabilities within the scope of the original guaranty.  

Article 3 Guaranty Liabilities. Party B shall assume joint and several guaranty liabilities for all debt covered by the guaranty. If the Loanee fails to perform his obligations to repay the due debt, Party A may claim against both the Loanee
and Party B directly. Party B shall irrevocably authorize Party A to deduct the interest owed and due principal from Party B’s bank account directly if the Loanee owes the interest or fails to pay off when the main debt is due (including
expiration of the Contract or expiration of the Contract ahead of time). 

Party B commits that his performance of the guaranty liabilities shall not be based on the Loaner’s exercise of the real rights for security (including the Main Loanee’s real rights for security) hereunder first.  

Article 4 The
guaranty hereunder is independent, and not affected by guaranty provided by other Guarantors. When the Main Contract is guaranty by several persons or guaranteed mortgage for other objects, Party B shall still assume joint and several liabilities
for all debt covered by the guaranty.  

Article 5 The guaranty hereof is irrevocable, and is neither affected by
any agreement or document entered
into by and between the Loanee and any organization, nor changed due to the Loanee’s bankruptcy, non-solvency of the loan, disqualification of enterprise, alteration of articles of association and alteration of name. 

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Article 6 Even if the Main Contract becomes void or some terms thereof become void for whatsoever reasons, the Loanee hereunder shall still perform his obligations to repay. As long as the Loaner’s credit is not paid off, Party B shall
assume guaranty liabilities for the Loanee’s liabilities to repay as per conditions stated herein. 

Article 7 Party B’s Statement and Guaranty 

Party B is legally qualified to enter into and perform this contract, and is fully authorized (if required) by his board of directors or any other entitled institution to do so. 

Party B guarantees that various application information provided to Party A is true, legal and valid, and contains no major mistake that fails to comply with the fact or omits any major fact. 

Party B confirms that various application information provided to Party A by the Loanee is true, legal and valid, and contains no major mistake that fails to comply with the fact or omits any major fact. 

Party B guarantees that he will notify Party A in writing of any alteration of his address, telephone number and scope of business, legal representative and name within ten days after the alteration. 

If the Loanee fails to perform his debt as agreed upon herein, Party A has right
to directly request Party B to assume all guaranty liabilities covered in the
guaranty, regardless of other guaranty for Party A’s credit.  

Party B shall agree on, accept and coordinate in the Loaner’s investigation into
his property and business status during guaranty, including inquiry via phone,
at site or at other information inquiry institution’s premise.  

Party B has been fully informed of and understood all terms of This Contract and corresponding Main Contract. Both parties are willing to enter into this contract.  

If Party A withdraws the loan ahead of time due to the Main Loanee’s breach of contract, Party B shall assume joint and several (guaranty) liabilities for solvency.  

Article 8 Revision 

1. If either party requests to revise this Contract, he shall give notification to the counterparty, and shall not revise until both parties enter into a written agreement. Before the written agreement is entered into, all terms hereof continue to
be valid.  

2. Party A’s tolerance of Party B shall not be deemed as alteration or cancellation hereof, unless any written alteration agreement is entered into as mentioned above. 

3. When the Main Contract is revised, unless principal of the loan under the Main Contract is increased, which leads to enlargement of Party B’s guaranty liabilities, other contents of the Main Contract may be altered without Party B’s
prior consent, and Party B shall still assume guaranty liabilities for the Main Contract altered. However, Party A is obliged to inform Party B of said alteration to the contract in a timely manner.  

Article 9 Applicable Law and Settlement of Disputes 

1. This contract is entered into according to the PRC laws, and applies to the PRC laws. 

2. Disputes arising out of this Contract shall be settled in the way agreed upon in the Main Contract.   

Article 10 Miscellaneous:
______________________________________________________________________________________________

 __________________________________________________________________________________________________________________

 _____________________________________________________________________________________________.

 Article 11 This contract shall come into effect upon signatures and seals of both parties, and expire automatically after the Loanee pays off all debt hereunder or the Guarantor has performed his joint and several guaranty liabilities.
This contract is in septuplicate, with one copy for the Guarantor, the Loanee and the Loaner each, which shall have the same legal effect.  

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Party A (Seal):
		
Party B (Seal):
	
	
(Corporate Loan Contract Chop of Guiyang Branch
		
Ji Yudong, Zeng Yi, Bai Yulu, Shi Bei
	
	
of Bank of Chongqing Co., Ltd.)
		
 
	
	
Person in Charge: Pan Jinguo
		
Legal Representative:
	
	
(Or Commissioned Agent)	
(Or Commissioned Agent)
	
 
	
 

	
 
		
 
	
	
 
		
                                                                    Signed on
July 4th, 2011
	

	
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Letter of Underwriting 

Guiyang Sub-branch (Branch /Section), Bank of Chongqing Co.,
Ltd..: 

This Guarantor is legally qualified as guarantor and is able to
pay off the debt on behalf. I (We) are willing to (tick “ ” in the following
options): 

[  ] 1. Provide joint and several guaranty for the debt in the amount no
more than RMB (in word) to the maximum provided to the Loanee as
specified in a series of loan and acceptance contract entered into with you
during MM      DD     
 YY      to MM    
 DD      YY    
 and its
interest, liquidated damage, compensation for any damage and expenses arising
from realization of Loaner’s rights of the loan. 

[X] 2. Provide joint and several guaranty for the debt in the
amount of RMB TWENTY MILLION YUAN ONLY (in word) under the
Circulating Fund Loan of Bank of Chongqing coded (CYQD) Zi No.
0577 (2011) entered into with you and the interest, liquidated
damage, compensation for any damage and expenses arising from realization of
Loaner’s rights of the loan. 

For Qian Xi Nan Aosen Forestry Company, Limited., the
Borrower. 

I (We) hereby confirm that the guaranty contract coded
(CYQB) Zi No. 0579 (2011) entered into with you is true. This
Guarantor assumes full legal responsibilities for terms listed therein. 

	Guarantor (Seal): Bai Yulu, Ji Yudong, Shi Bei, Zeng Yi 	Legal Representative: 
	
    

    
    
	(Or Authorized Agent) 
	  	July
      4th, 2011 
	  	  
	Underwritten by:Silvan Industries, Inc.: Exhibit 10.10 - Filed by newsfilecorp.com

GUIZHOU XINGYI RURAL COOPERATION BANK 

No.: Xing Nong He Yin (2011) Nian Bao Dai Zi No.055 

Exhibit 10.10 

 

	 	
    
     

    Gurantee Agreement

    (English Translation)
	
    
	Surety: Guizhou Dingshengxing Guarantee& Investment Co., Ltd.

     Creditor: Guizhou Xingyi Rural Cooperative Bank
                  	 

 

 

 

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Guizhou Xingyi Rural Cooperation Bank 

Guarantee Agreement 

Surety (“Party A”): Guizhou Dingshengxin Guarantee & Investment Co., Ltd.

 Address: Room G8, 24/F, Guiyang Hotel, Yunyan District, Guiyang, Guizhou

ID card No. or Organization Code:   77533646-6                     

Creditor (“Party B”): Guizhou Xingyi Rural Cooperative Bank             

In order to secure the performance of the Working Capital Loan Contract (the “Master Contract”) [No.: Xing Nong He Yin (2011) Nian Liu Dai Zi No.055] concluded between Qian Xi Nan Aosen Forestry Company, Limited.
(the “Debtor”) and Party B, and the realization of Party B’s claim, Party A is willing to offer the joint and several guaranty to the debt formed on the master contract between the Debtor and Party B. In accordance with pertinent
laws, regulations and rules, Party A and Party B, upon consensus reached through consultation, make and enter into this Contract for mutual compliance. 

	

Article 1 Mode of guarantee  

Party A offers the joint and several guarantee liability. 

Party A confirms that where the Debtor fails to discharge the debt as stipulated in the master contract, regardless of whether Party B possesses other guaranties (including but not limited to such modes of guarantee as guaranty, mortgage, pledge,
bond, etc.) to the debt under the master contract, Party B shall have the right to demand Party A directly to undertake the guarantee liability to the extent of its guarantee.
 

Article 2 Scope of guarantee  

Principal of the claim (in words) TWENTY FOUR MILLION ONLY and interests (including the compound interests and penalty interests), penalties, compensation and related fees advanced by Party B, and all expenses incurred to Party B for the
realization of the claim (including but not limited to the legal costs, arbitration fee, property preservation expenses, attorney’s fees, traveling expenses, execution fees, evaluation fees, auction fees, etc.)
 

Article 3 Term of guarantee  

From the effective date of this Contract to the date two years after the expiry date of the performance period of the debt under the master contract. Where Party B agrees on the extension of the claim upon maturity of the loan, the term of guarantee
shall expire on the date two years after the expiry date of the performance period of the debt re-stipulated in the extension agreement.
 

Article 4 Modification of the secured master contract  

Party A confirms that any modification of articles of the master contract upon consensus between Party B and the Debtor shall be deemed as having acquired the prior consent of Party A, which cannot exempt Party A from its guarantee liability, with
the exception that the amount of the principal of the claim is increased. Modification of the term of the master contract by the Creditor and the Debtor (including the extension under the letter of credit) shall not be subject to the consent of the
Surety, but the Surety shall assume the guarantee liability continuously pursuant to the scope of guarantee set in this Contract, and the term of guarantee shall remain valid till the full repayment of the principal and interests or be extended
accordingly.  

Article 5 Severability of contract validity  

This Contract is the ancillary contract of the master contract. Where the master contract is deemed as invalid, Party A is willing to undertake the joint and several guarantee liability to the debt resulting from the Debtor’s property return or
loss compensation.  

Article 6 Guarantee ability  

During the term of guarantee, where Party A loses or will probably loss the guarantee ability, or the legal person or other organizations as a surety undergoes contract, lease, combination, M&A, co-investment, division, association, joint stock
reform, or cancellation, Party A shall given a written notice to Party B in advance, and all the obligations hereunder shall be undertaken by the body after the aforesaid charge or the body that makes the cancellation decision to Party A. In the
event that Party B believes that the body after the change does not have corresponding guarantee ability, Party A or the body that makes the cancelation decision shall offer new acceptable guaranty to Party B, and conclude corresponding guarantee
contract.  

During the term of guarantee, Party A, without the prior written consent of Party B, shall not offer guaranty above 100% of the amount of the net assets in its last annual financial statements to any third party.
 

Article 7 Supervision to surety  

During the term of the guarantee, Party B shall have the right to
know Party A’s production and operation, financial activities, industrial and
commercial registration, tax registration, tax payment and operation of related
enterprises, and conduct investigation, also have the right to require Party A
to provide related planning, statistics, financial statements, etc., and Party A
shall:  

(1) Provide related financial materials and production and
operation materials as required by Party B, and be held liable for the
authenticity, integrity and validity of the materials provided;  

(2) Provide the industrial and commercial registration
information as required by Party B, and offer conveniences to
Party B for the investigation of the industrial and commercial registration in the name of Party A;
 

    	

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(3)
Provide the tax registration and payment information as required by Party B, and offer conveniences to Party B for
the investigation of the tax registration in the name of Party A;
	
	
 
	
(4)
Provide the list of major fixed assets as required by Party B, and offer conveniences to Party B for the investigation
and verification of Party A’s immovable properties;
	
	
 
	
(5)
Provide the list of related enterprises and copies of the business license of the enterprises, and the list of
shareholders or contributors as required by Party B;
	
	
 
	
(6)
Provide the list of Party A’s external investments and current status as required by Party B; and
	
	
 
	
(7)
Provide the list of Party A’s external guaranty, lease and donation as required by Party B.
	
	
 
	
Article 8 Early assumption of guarantee liability
	
	
 
	
During the term of guarantee, where Party B declares early maturity of the debt as stipulated in the master contract,
Party B shall have the right to require Party A to undertake the joint and several guarantee liability.
	
	
 
	
 
	
Article 9 Transfer and collection of amount payable
	
	
 
	
As for the amount payable to which Party A undertakes the joint and several payment liability, Party A irrevocably
authorizes Party A to transfer and collect from its account opened by Party A with Party B and its branches. The
stipulation of this article shall be taken as Party A’s irrevocable authorization to Party B on its direct transfer and
collection of amount for the repayment of the loan principal and interests.
	
	
 
	
Article 10 Miscellaneous
	
	
 
	
1.
During the term of guarantee, such cases of the Debtor as combination, division, joint stock reform, capital increase
or decrease, co-investment, association, or rename shall not reduce Party A’s guarantee liability or exempt Party A
from the guarantee liability.
	
	
 
	
	
2.
The Surety shall be obligated to supervise the Debtor’s use of the loan.
	
	
 
	
3.
The Surety has fully recognized the interest rate risk, and is willing to undertake the increased guarantee liability
due to the fluctuation of interest rate where the floating interest rate is adopted in the master contract.
	
	
 
	
	
4. ____________________________________________________.
	
 
	
Article 11 Dispute resolution
	
	
 
	
Any disputes arising from the contract performance shall be settled through negotiation. Should no consensus be
reached, Method 1 below shall be adopted for solution:
	
	
 
	
1.
Take legal action at the people’s court of the place where Party B is located;
	
	
 
	
2.
Submit it to ______arbitration commission for arbitration.
	
	
 
	
During the litigation or arbitration period, articles of the part irrelevant to the disputes shall be performed continuously.
	
	
 
	
Article 12 Effectiveness
	
	
 
	
This Contract shall take effect after signed or sealed by Party A and Party B.
	
	
 
	
Article 13 This Contract shall be made in triplicate, with Party A, Party B and the Debtor each holding one.
	
	
 

The Surety has read the aforesaid articles carefully, and the Creditor has construed articles of the Contract upon request of the Surety, and performed the obligation of giving reasonable prompt and explanation. The Surety has know the meanings,
and has no objection to contents of the articles hereof. 

	
 	
 	
 
	
 	
 	
 
	
 	
 	
 
	
Party A:
		
Party B:
		
 
	
	
Legal Representative (Principal)
		
Legal Representative (Principal)
		
 
	
	
Or Authorized Representative (Signature or Seal):
		
Or Authorized Representative (Signature or Seal): Zhou
	
	
 
		
Lunqi
		
 
	
	
 
		
Handling Person: Feng Lijiang
		
 
	
	
30 April 2011
		
30 April 2011
		
 
	
	
 
		
 
		
 
	
	
  	
  	
  

	
 
		
 
		
 
	
	
 
		
 
		
 
	
	
Guizhou Dingshengxin Guarantee& Investment Co., Ltd.
		
Guizhou Xingyi Rural Cooperation Bank
		
Seal
	
	
Xi’nanzhou Branch
		
for Contracts
		
 
	

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