Document:

Unassociated Document

 

Raw Milk Exclusive Supply Agreement

by and among

Heilongjiang Feihe Kedong Feedlots Co., Limited and

Heilongjiang Feihe Gannan Feedlots Co., Limited

(collectively, as “Suppliers”)

and

Haerbin City Ruixinda Investment Company Ltd.

(as “Suppliers Equity Holder”)

and

Heilongjiang Feihe Dairy Co., Limited

(as “Receiver”)

 

September 30, 2011

  

  

  

CONTENTS

	
Article I Definitions

	
2

	
Article II Obligation Transfer

	
2

	
Article III Obligations of Suppliers

	
2

	
Article IV Obligations of Receiver

	
3

	
Article V Responsibilities of Suppliers as Equity Holder

	
3

	
Article VI Liabilities for Breach of Agreement

	
3

	
ArticleVII Validity

	
4

	
Article VIII Miscellaneous

	
4

  

  

  

RAW MILK EXCLUSIVE SUPPLY AGREEMENT

This Raw Milk Exclusive Supply Agreement (the “Agreement”) is entered into as of September 30, 2011 by and among:

Heilongjiang Feihe Kedong Feedlots Co., Limited, a limited liability company duly organized and existing under the Laws of the People’s Republic of China (the “PRC” or “China”) with its registered address at Qingxiang Street, Kedong town, Kedong country, Heilingjiang Province, and its register capital being RMB76,520,000 (Capital contribution by Feihe is RMB74,620,000; Capital contribution by Jinyan Ma is RMB1,900,000), its registration number is 230230100000170 and its legal representative is Jinyan Ma (“Feihe Kedong”);

Heilongjiang Feihe Gannan Feedlots Co., Limited, a limited liability company duly organized and existing under the Laws of the PRC with its registered address at Fanrong Street, Gannan country, Heilingjiang Province, and its register capital being RMB38,000,000(Capital contribution by Feihe is RMB36,100,000; Capital contribution by Jinyan Ma is RMB1,900,000), its registration number is 230225100005848 and its legal representative is Jinyan Ma (“Feihe Gannan”, and Feihe Kedong are hereinafter collectively referred to as “Suppliers” or “Companies”);

Heilongjiang Feihe Dairy Co., Limited,a wholly foreign owned enterprise duly organized and existing under the Laws of the PRC with the registered address at Kedong County, Qiqihaer City, Heilongjiang Province, and its legal representative is Leng Youbin (“Feihe” or “Receiver”);

Haerbin City Ruixinda Investment Company Ltd., a limited liability company duly organized and existing under the Laws of the PRC, with its registered address at Room B505, 3# Kegongmao, Yellow River Road, Nangang District, Haerbin, registration number is 230100100046085(1-1) and its legal representative is Shuxia Li (“Suppliers Equity Holder” or “Purchaser”).

Each of Suppliers, Receiver and Suppliers Equity Holder is referred to herein individually as a “Party”, and collectively as the “Parties”.

RECITALS

WHEREAS, Suppliers, Receiver and Suppliers Equity Holder reached an Equity Purchase Agreement on August 1, 2011.

WHEREAS, under the Equity Purchase Agreement and with the consent of Suppliers and Receiver, Suppliers Equity Holder’s payment obligation (being RMB734,505,724.57) is transferred to Suppliers.  Suppliers have the obligation to provide raw milk valued at RMB122,417,620.76 to Receiver at the beginning of each quarter for a period of 18 months (“Supplying Period”) immediately after the Closing Date.

  

1

  

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements hereinafter contained and other good and valuable consideration, the adequacy of which is hereby acknowledged, the Parties hereby agree as follows:

	
ARTICLE I

	
DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings specified in this Section 1.1:

“Equity Purchase Agreement” refers to the Equity Purchase Agreement entered into by and among the Receiver, and Suppliers Equity Holder, the Suppliers on August 1, 2011.

“Receiver” has the meaning ascribed to it in the Preamble.

“Suppliers” has the meaning ascribed to it in the Preamble.

“Suppliers Equity Holder” has the meaning ascribed to it in the Preamble.

 

“Supplying Period” has the meaning ascribed to it in the Recitals.

Capitalized terms used and not defined under this Agreement shall have the meaning defined under the Equity Purchase Agreement.

“Suppliers” and “Receiver”, in the context of this Agreement, shall include their own agents, heirs, approved legal assignees and a person gets legal approval from those agents, heirs, approved legal assignees.

	
ARTICLE II

	
OBLIGATION TRANSFER

2.1           In accordance with the Equity Purchase Agreement and upon mutual agreement among Suppliers and Receiver, Suppliers Equity Holder’s payment obligation, being the amount of RMB734,505,724.57, shall be transferred to Suppliers.

2.2           Suppliers shall have the obligation to provide raw milk valued at RMB122,417,620.76 (for Feihe Gannan, raw milk valued at RMB72,066,908 per quarter; for Feihe Kedong, raw milk valued at RMB50,350,712.76 per quarter) to Receiver at the beginning of each quarter for a period of 18 months immediately after the Closing Date.

 

ARTICLE III

OBLIGATIONS OF SUPPLIERS

3.1           Guarantee of Raw Milk Value.  Suppliers shall ensure that the value of its quarterly productivity during the Supplying Period shall not be below RMB122,417,620.76.  The value of raw milk should be adjusted based upon monthly market price of raw milk and the floating price of raw milk quality in the place of delivery.

  

2

  

3.2           Exclusive Supply.  During the Supplying Period, Suppliers shall not provide raw milk to any third party other than Receiver, unless they have reached the target delivery of raw milk valued at RMB122,417,620.76 to Receiver.  After Suppliers have fulfilled their raw milk supply obligation to Receiver under this Agreement, Suppliers shall still have the obligation to exclusively supply raw milk to Receiver so long as Receiver requires supply of raw milk from Suppliers; the exclusive supply of raw milk by the Suppliers to Receiver shall be at the then fair market price for an unlimited time period.

 

3.3           Raw Milk Quality Assurance.  Raw milk supplied by Suppliers to Receiver should meet the standard of State and the standard provided by relevant laws, regulations and normative documents (“Standard”), and Suppliers shall provide inspection reports or certificates of approval from relevant national functional departments.  Suppliers shall bear all responsibilities for the quality of the supplied raw milk.

3.4           Expenses.  Suppliers shall bear its own expenses incurred in connection with providing raw milk to Receiver, including the transportation expenses.

ARTICLE IV

OBLIGATIONS OF RECEIVER

4.1           Receiver shall arrange raw milk tests within three days upon receiving raw milk supplied by Suppliers.  In the event that the raw milk does not meet the requirements of Receiver, Receiver shall notify Suppliers within three days after Receiver have received the test results.  Suppliers shall arrange adjustments or re-supply the same amount raw milk within three days thereafter.

ARTICLE V

RESPONSIBILITIES OF SUPPLIERS AS EQUITY HOLDER

5.1           Procurement Obligation.  Suppliers Equity Holder shall take all reasonable actions necessary to procure Suppliers to fulfill their respective raw milk exclusive supplying obligations under this Agreement.

ARTICLE VI

LIABILITIES FOR BREACH OF AGREEMENT

6.1           If the supply of raw milk from Suppliers during the Supplying Period valued below RMB 122,417,620.76, Suppliers shall pay cash to Receiver in RMB for the shortfall.

 

 

  

3

  

6.2           In the event that Suppliers failed to supply the raw milk in accordance with Article 2.2, Feihe shall be entitled to charge on the Suppliers a penalty of 5‰ of the amount unpaid on a daily basis.  This penalty shall not affect the Sellers’ rights under the Assets Mortgage Agreement.

6.3           If the testing result from Receiver shows that the raw milk Suppliers provided does not meet the requirements of Receiver, Receiver shall have the right to return raw milk to Suppliers and to require Suppliers to renew the supply; Suppliers shall have no right of objection.  Suppliers shall collect the returned raw milk within 2 days from the notice of the Receiver.  Suppliers shall compensate Receiver all expenses and losses incurred if Suppliers fail to deliver the raw milk within the agreed period.

6.4           Suppliers shall bear all legal responsibilities for the quality of raw milk supplied to Receiver, and shall compensate Receiver for all the losses incurred by such quality issues.

ARTICLE VII

VALIDITY

This Agreement shall take effect on the date of execution.  This Agreement is an attachment to the Equity Purchase Agreement, if the Equity Purchase Agreement fails to be signed or is invalid, then this Agreement shall have no legal validity from the very beginning.

ARTICLE VIII

MISCELLANEOUS

8.1           Transfer.  Suppliers shall not transfer any of their rights or obligations under this Agreement to any other party.

8.2           Dispute Resolution.

(a)           Except as otherwise expressly provided herein, any dispute, controversy or claim arising out of or in relation to this Agreement, including the validity, invalidity, breach or termination thereof, shall be submitted to Beijing Arbitration Commission in accordance with the Arbitration Administration Procedures and the Arbitration Rules of Beijing Arbitration Commission in force on the date when the notice of arbitration is submitted.  The arbitration panel shall consist of three (3) arbitrators.  Suppliers and Receiver shall each select one (1) arbitrator, and the third arbitrator shall be jointly selected by Suppliers and Receiver through mutual agreement.  If no agreement is reached, the third arbitrator shall be appointed by Beijing Arbitration Commission.  Each arbitrator shall be impartial and independent of the Parties and shall have more than ten (10) years’ legal practice experience.  The place of the arbitration shall be in Beijing.  If a translator is needed during the arbitration procedure, Parties shall appoint an impartial official translator that is accepted by Beijing Arbitration Commission.  If Parties can not reach agreement on the appointment of such official translator, Beijing Arbitration Commission shall make such appointment.

  

4

  

 

(b)           The arbitration award shall be final and binding on the Parties, and the Parties agree to be bound thereby and to act accordingly.  The costs of arbitration and the costs of enforcing the arbitral award (including witness expenses, attorneys’ fees and the cost of the translator appointed in accordance with Section 8.2(a) above) shall be borne by the losing party, unless otherwise determined by the arbitral award.

 

(c)           When any dispute occurs and when any dispute is under arbitration, except for the matters under dispute, the Parties shall continue to fulfill their respective obligations (and shall be entitled to exercise their rights) under this Agreement.

 

8.3           Applicable Law.  This Agreement shall be governed by and construed in accordance with the Laws of the People’s Republic of China.

** REMAINDER OF PAGE INTENTIONALLY LEFT BLANK**

  

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized as of September 30, 2011.

 

	

Supplier:

	 	 	 	 
	 	 	 	 	 	 
	

Heilongjiang Feihe Kedong Feedlots Co., Limited

	 	 	 	 
	 	 	 	 	 	 
	By:  	/s/  	 	 	 	 
	 	
 

	 	 	 	 

 

	
Supplier:

	 	 	 	 
	 	 	 	 	 
	

Heilongjiang Feihe Gannan Feedlots Co., Limited

	 	 	 	 
	 	 	 	 	 	 
	By:  	/s/  	 	 	 	 
	 	
 

	 	 	 	 

 

	

Receiver:

	 	 	 	 
	 	 	 	 	 
	

Heilongjiang Feihe Dairy Co., Limited

	 	 	 	 
	 	 	 	 	 	 
	By:  	/s/  	 	 	 	 
	 	
 

	 	 	 	 

 

	

Suppliers Equity Holder:

	 	 	 	 
	 	 	 	 	 
	

Haerbin City Ruixinda Investment Company Ltd.

	 	 	 	 
	 	 	 	 	 	 
	By:  	/s/Unassociated Document

 

ASSET MORTGAGE AGREEMENT

 

 

by and among

 

 

Heilongjiang Feihe Kedong Feedlots Co., Ltd.

Heilongjiang Feihe Gannan Feedlots Co., Ltd.

(Collectively as “Mortgagers”)

 

 

and

 

 

Heilongjiang Feihe Dairy Co., Ltd.

(as “Mortgagee”)

 

 

 

 

 

 

September 30, 2011

 

 

  

1

  

Catalogue

	
Article I Definition

	
3

	
Article II Collateral

	
4

	
Article III Mortgage

	
4

	
Article IV Principal Claim and the Term for Mortgagers to Perform the Obligation

	
4

	
Article V Scope of Mortgage

	
4

	
Article VI Time Limit for Mortgage

	
4

	
Article VII Register of Mortgage

	
4

	
Article VIII Representation and Warranty of Mortgagers

	
5

	
Article IX Obligation of Mortgagers

	
5

	
Article X Obligation of Mortgagee

	
6

	
Article XI Insurance

	
6

	
Article XII Realization of Mortgage

	
6

	
Article XIII Breach of Contract and Liability

	
7

	
Article XIV Amendment and Termination

	
7

	
Article XV Assignment

	
7

	
Article XVI Effectiveness and Termination

	
8

	
Article XVII Dispute Resolution and Governing Law

	
8

	
Appendix 1 List of Collateral

	
10

 

  

2

  

 

ASSET MORTGAGE AGREEMENT

 

This ASSET MORTGAGE AGREEMENT (the “Agreement”) is entered into as of September 30, 2011 by and among:

 

Mortgager: Heilongjiang Feihe Kedong Feedlots Co., Ltd., a limited liability company duly organized and existing under the Laws of the People’s Republic of China (the “PRC” or “China”) with its registered address at Qingxiang Street, Kedong town, Kedong country, Heilingjiang Province, its registration number being 230230100000170 and its legal representative being Jinyan Ma (“Feihe Kedong”).

Mortgager: Heilongjiang Feihe Gannan Feedlots Co., Ltd., a limited liability company duly organized and existing under the Laws of the PRC with its registered address at Fanrong Street, Gannan country, Heilingjiang Province, its registration number being 230225100005848 and its legal representative being Jinyan Ma (“Feihe Gannan”, and together with Feihe Kedong, hereinafter collectively referred to as the “Companies” or “Mortgagers”).

Mortgagee: Heilongjiang Feihe Dairy Co., Ltd.,a wholly foreign owned enterprise duly organized and existing under the Laws of the PRC with the registered address at Kedong County, Qiqihaer City, Heilongjiang Province, and its legal representative being Leng Youbin (“Feihe” or “Mortgagee”).

The Mortgagee and Mortgagers shall be collectively referred to as “Parties” and individually as a “Party”.

RECITALS

 

Whereas, Mortgagers, Mortgagee and certain other parties entered into an Equity Purchase Agreement on August 1, 2011.

Whereas, to ensure the full performance of the obligations of the Mortgagers under the Equity Purchase Agreement, mortgagers hereby mortgage its assets to Mortgagee.

NOW THEREFORE, the Parties have reached agreements as follows:

 

Article I Definition

 

1.1           Unless otherwise provided in this Agreement, the terms shall have the following meanings:

 

“Equity Purchase Agreement” shall refer to the Equity Purchase Agreement entered into by the Mortgagers, Mortgagee and certain other parties on August 1, 2011.

 

“Mortgagee” shall refer to the creditor under the Equity Purchase Agreement, which is Feihe.

 

    “Mortgagers” shall refer to the debtors under the Equity Purchase Agreement, which are Feihe Kedong and Feihe Gannan.

 

 

  

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“Collateral” shall refer to the properties and assets listed on the Appendix 1 of this Agreement.

 

“Value of Collateral” shall refer to the book value of the Collateral at the time of such Collateral being sold.

 

“Breach of Contract” shall refer to any or all of the events and actions set forth in Article XIII of this Agreement.

 

1.2              Unless otherwise defined under this Agreement, capitalized terms in this Agreement shall have the meaning ascribed to them in the Equity Purchase Agreement.

 

Article II Collateral

 

“Collateral” shall refer to the properties and assets listed in Appendix 1 of this Agreement.

 

Article III Mortgage

 

Mortgagers hereby agree to provide to Mortgagee a first priority security on the Collateral.

 

Article IV Principal Claim and the Term for Mortgagers to Perform the Obligation

 

4.1              “Principal Claim” refers to the Second Payment under the Equity Purchase Agreement; the total value of the Principal Claim is RMB734,505,724.57.

 

4.2              The term for Mortgagers to perform their obligation of the Second Payment is 18 months immediately after the Closing Date under the Equity Purchase Agreement.  The repayment shall be that Mortgagers provide to Mortgagee raw milk valued at RMB122,417,620.76 each quarter for the 18 months.

 

Article V Scope of Mortgage

 

The scope of mortgage shall cover all the debts of Mortgagers under the Equity Purchase Agreement, including but not limited to the Principal Claim, interest, liquidated damage, indemnification, and other fees (if any) under the Equity Purchase Agreements (collectively, “Secured Debt”).

 

Article VI Time Limit for Mortgage

 

The rights of Mortgagee under this Agreement shall survive 2 years after the expiration of the litigation time period for the Secured Debt.

 

Article VII Register of Mortgage

 

7.1         Mortgagers shall complete the registration of mortgage in accordance with the relevant laws and regulations prior to the Closing Date under the Equity Purchase Agreement.

 

 

  

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7.2         After paying back the Secured Debt, Mortgagers shall together with Mortgagee cancel the mortgage registration with the competent authority.

 

Article VIII Representation and Warranty of Mortgagers

 

8.1           Each of the Mortgagers is duly organized, validly existing and in good standing under the laws of PRC, and has all requisite power and authority to own, lease and operate its properties and to carry on its business;

 

8.2           Each of Mortgagers is the sole legal and beneficial holder of the Collateral.  Mortgagers have the right to dispose the Collateral respectively without objection from any third party.  The Collateral are not subject to any attachment, detention or any other condition that may affect the rights of the Mortgagee;

 

8.3           The asset mortgage under this Agreement is not subject to any other third party priority imposed on the Collateral (except as otherwise required by applicable legislation or administrative regulation);

 

8.4           There is no litigation, arbitration or any other kind of unfavorable administrative process related to the Collateral;

 

8.5           Mortgagers shall inform Mortgagee by written notice within 3 days in case there is any change of their representations and warranties set forth under this Agreement.

 

Article IX Obligation of Mortgagers

 

9.1           Mortgagers shall obey all the laws and regulations in relation to this Agreement.  Mortgagers are obliged to use their best efforts to ensure their property rights in the Collateral.

 

9.2           Mortgagers are obliged to legally and promptly complete the mortgage registration.  Before the Closing Date under the Equity Purchase Agreement, Mortgagers shall deliver the respective certificate or document of the Collateral to Mortgagee.

 

9.3           Without the written consent of Mortgagee, Mortgagers shall not dispose any of the Collateral, including but not limited to creating other mortgage on the Collateral after execution of this Agreement.

 

9.4           Mortgagers are obliged to inform Mortgagee by written notice within 3 days if Mortgagers knows or should have known the occurrence of any litigation, arbitration or administrative process in relation to Mortgagers or the Collateral.

 

9.5           Mortgagers are obliged to use their best efforts to ensure the security of and to prevent damages on the Collateral.  Mortgagers are also obliged to cooperate with Mortgagee in respect of the review and inspection by the representative appointed by Mortgagee.

 

 

  

5

  

 

9.6           Mortgagers shall promptly inform Mortgagee of any event or accident, which may affect the value of Collateral (including but not limited to any impairment and loss of the Collateral).  At any time the Mortgagee reasonably believes that the Collateral is insufficient to secure the Secured Debt, Mortgagers shall offer equivalent new property or equity to Mortgagee as Collateral within 10 days upon written requirement of Mortgagee.

 

Article X Obligation of Mortgagee

 

10.1           Mortgagee is obliged to cooperate with the mortgage registration together with Mortgagers.

 

10.2           Within 30 days after paying off the Secured Debt by the Mortgagers, Mortgagee is obliged to deliver certificate, insurance policy and other documents of Collateral under its custody back to Mortgagers and cooperate with Mortgagers in cancelling the registration.  Mortgagers shall be responsible for the fees related thereto.

 

10.3           Mortgagee is obliged to notify Mortgagers promptly by written notice when the Principle Claim is transferred to a third Party.

 

Article XI Insurance

 

11.1           Mortgagers shall purchase insurance for the Collateral based on its appraised value, and the beneficiary of insurance shall be Mortgagee.  Mortgagers shall keep paying insurance expenses until the Secured Debt is paid off.

 

11.2            Mortgagers shall inform Mortgagee by written notice within 5 days if Mortgagers knew or should have known the occurrence of any insurance accident.  Mortgagers shall be in charge of settlement of the insurance claim.

 

Article XII Realization of Mortgage

 

12.1            Upon happening any of the following events:

 

(a)              Mortgagers failed to perform their repayment obligations under the Equity Purchase Agreement,

 

(b)              Any of the Mortgagers was legally announced bankruptcy, winding up or dissolution,

 

(c)              Any breach of the Equity Purchase Agreement or this Agreement by the Mortgagers, or

 

(d)              The Equity Purchase Agreement is terminated due to reason attributable to Mortgagers,

 

 

  

6

  

 

Mortgagers shall pay the Principal Claim within 10 days upon requirement of Mortgagee.  Otherwise, Mortgagee shall have the right to realizing the mortgage in any legal method.

 

12.2              The income in realization of mortgage under this Agreement shall offset the fees for realization of mortgage, and then shall pay off the Secured Debt; the remaining portion will be returned to Mortgagers or other beneficiaries.

 

Article XIII Breach of Contract and Liability

 

13.1                 Any of the conditions below shall be deemed as a Breach of Contract by Mortgagers:

 

(a)         Any breach of the Equity Purchase Agreement by Mortgagers;

 

(b)         Value of the Collateral decreased due to the fault of any of the Mortgagers;

 

(c)         Mortgagers’ insurance obligations under Article X were not fulfilled; or

 

(d)         Mortgagers disposed or set up mortgage on the Collateral without written consent of Mortgagee.

 

13.2            Upon the occurrence of any of Breach of Contract set forth in this Agreement, Mortgagee shall be entitled to (not as an obligation), one or more remedies set forth below as indemnification:

 

	
  

	
(a)

	
Requiring Mortgagers to provide guarantees equivalent to the decreased value of the Collateral;

 

	
  

	
(b)

	
Requiring Mortgagers to pay all the Secured Debt;

 

	
  

	
(c)

	
Realizing the mortgage under this Agreement;

 

	
  

	
(d)

	
Requiring Mortgagers to indemnify the damages of Mortgagee directly caused by its Breach of Contract.

 

Article XIV Amendment and Termination

 

14.1                  Amendment and Termination of this Agreement shall be by mutual written agreements of the Parties.

 

Article XV Assignment

 

15.1                This Agreement shall be binding and inure to the benefit of the Mortgagee’s successors and assignees.

 

 

  

7

  

 

15.2                 Mortgagers shall not assign any of their obligations under this Agreement to a third party without the consent of Mortgagee.

 

15.3                 Partial of or all the rights of Mortgagee hereunder may be assigned in connection with the assignment of Mortgagee’s rights under the Equity Purchase Agreement; Mortgagers are obliged to amend the registration of Collateral accordingly.  Mortgagee shall notify Mortgagers in writing when exercising its rights under this Article 15.3.

 

Article XVI Effectiveness and Termination

 

16.1              This Agreement shall come into effect upon execution by the Parties.

 

16.2              This Agreement shall been binding on Parties until the Secured Debt is paid off.

 

Article XVII Dispute Resolution and Governing Law

 

17.1              The execution, effectiveness, construction, performance, and the resolution of disputes hereunder shall be governed by the PRC laws.

 

17.2              In the event of any dispute with respect to the construction and performance of the provisions of this Agreement, the Parties shall negotiate in good faith to resolve the dispute.  In the event the Parties fail to reach an agreement on the resolution of such a dispute within 30 days after any Party’s request for resolution of the dispute through negotiations, any Party may file a lawsuit with a PRC court that has the jurisdiction.

 

 

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed on September 30, 2011, in Kedong (City):

 

Mortgager::Heilongjiang Feihe Kedong Feedlots Co., Ltd.

 

Legal Representative:     /s/ 

 

(Signature)

 

 

Mortgager: Heilongjiang Feihe Gannan Feedlots Co., Ltd.

 

Legal Representative:     /s/

 

(Signature)

 

 

Mortgagee: Heilongjiang Feihe Dairy Co., Ltd.

 

Legal Representative:     /s/

 

(Signature)

 

-  -

  

8

  

Appendix 1

 

List of Collateral

 

 

Real Estate:

 

 

	
1.

	
Location: [_____________]

 

 

	
2.

	
Ownership:[_____________]

 

 

	
3.

	
Time limit for Land: [_____]

 

	
Location of Real Estate

	
Construction Area (square meter)

	
Appraised Value (RMB)

	
Date of Appraisal

	
Certificate Number

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  

 

	
4.

	
Details:

 

 

Details of other Collateral:

 

	
Name of property or equity

	
Appraised Value (RMB)

	
Date of Appraisal

	  	  	  
	  	  	  

 

 

  

9

  

This Appendix shall be deemed as an integral part of this Agreement.

 

 

10

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