Document:

Unassociated Document

    (English
      Translation)

     

    Short-Term
      Renminbi Loan Agreement

    No.:
      2008
      Bank of China 0005

     

    
      
        	
                Borrower:

              	
                Dalian
                  Chuming Food Co., Ltd.

              
	 	 	 	 
	
                Business
                  License No.:

              	
                Dalian
                  Bureau of Industry and Commerce 2102002111023

              
	 	 	 	 
	
                Legal
                  Representative:

              	
                MA,
                  Feng Qing

              	 	 
	 	 	 	 
	
                Business
                  Address: 

              	
                Qiang
                  Shui Village, Nang Guang Town Gang Jin Zhi District, Dalian
                  City

              
	
                Zip
                  code: 

              	
                116031

              	 	 
	 	 	 	 
	
                Bank
                  Account:

              	
                Bank
                  of China Liaoning Branch 07050408091001

              
	 	 	 	 
	
                Telephone:

              	
                86716585

              	
                Facsimile:

              	
                86716686

              
	 	 	 	 
	 	 	 	 
	
                Lender:

              	
                Bank
                  of China Corp., Liaoning Branch (Bank of China Liaoning
                  Branch)

              
	 	 	 	 
	
                Authorized
                  Person:

              	
                DONG,
                  JianYue

              
	 	 	 	 
	
                Business
                  Address:

              	
                No.9,
                  Zhongshan Plaza, Dalian City

              	
                Zip
                  code: 116001

              
	 	 	 	 
	
                Telephone:

              	
                862586901

              	
                Facsimile:

              	
                82586779

              

      

    

    

    Negotiating
      on equal standings, Borrower and Lender enters into this agreement to facilitate
      Lender lending Renminbi (RMB) to Borrower on a short-term basis.

    

    This
      agreement is entered into under the 2007 Bank Credit Agreement No. 032 between
      Bank of China Corp., Liao Ning Branch and Dalian Chuming Group Co., Ltd.

    

    
      	1.	
              Loan
                Amount

            

    

    

    Loan
      Amount: RMB 20,500,000 (approximately $2.9 million) 

    

    
      	2.	
              Term
                of the Loan

            

    

    

    Term
      of
      the Loan: 11 months, beginning from the date the fund is withdrawn, provided
      that if fund is withdrawn in installments, then beginning from the withdrawal
      date of the first installment.

    

    
      	3.	
              Use
                of Proceeds

            

    

    

    Use
      of
      Proceeds: working capital

    

    Without
      Lender’s prior written consent, Borrower shall not use the funds for any other
      purposes, including without limitations to acquire stock or make other equity
      investment, and shall not use the funds in violation of any laws or regulations
      or for purposes prohibited or not legally approved by the State or contrary
      to
      the stated use of proceeds.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	4.	
              Interest

            

    

     

    
      
        (a)
          Interest

         

      

    

    Interest
      shall be determined as follows: Fixed interest of 8.217% per annum, fixed during
      the term of this agreement.

     

    
      
        (b)
          Calculation
          of Interest

      

    

     

    Interest
      shall be calculated from the date the fund is withdrawn, based on the amount
      withdrawn and the number of days the withdrawn fund is used.

    

    Interest
      = principal X number of days X daily interest

    

    Daily
      interest is based on a 360-day year, such that daily interest = annual
      interest/360

     

    
      
        (c)
          Payment
          of Interest

      

    

     

    Borrower
      shall pay interest as follows: quarterly payment, with the payment amount
      determined as of the 20th day of the last month of each quarter and the payment
      date being the 21st day.

    

    Whether
      or not the final principal payment day falls on an interest payment day,
      Borrower shall pay all accrued interest.

     

    
      
        (d)
          Penalty
          

      

    

     

    (1) With
      respect to any untimely payment by Borrower, this penalty provision shall apply
      immediately after the date of the scheduled payment date until the penalty
      amount is fully paid, with the penalty being set at 50% of the contracted
      interest rate.

    

    (2) With
      respect to any fund not used by Borrower in accordance with the use of proceeds,
      this penalty provision shall apply immediately beginning on the date such fund
      was used until the penalty amount is fully paid, with the penalty being set
      at
      100% of the contracted interest rate.

    

    (3)
       If
      an
      amount of fund is used in breach of the use of proceeds and the repayment of
      such fund is untimely, the penalty for such fund shall be set in accordance
      with
      (2) above. 

    

    (4) If
      Borrower cannot timely make interest payment, interest on such payment shall
      be
      calculated the interest pursuant to Section 4(c) of this agreement. Any interest
      due prior to the loan maturity date shall be calculated in accordance with
      Section 4(a) of this agreement.

    

    
      	5.	
              Conditions
                for Fund Withdrawal

            

    

    

    Borrower
      must satisfy the following prior to withdrawal of fund:

    

    (a) This
      agreement and any addendums shall be in effect.

    

    (b) Borrower
      shall have complied with Lender’s requirement for guaranty, with such guaranty
      being legally in effect.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    (c) Borrower
      shall have provided to Lender in advance a copy of this agreement and all
      related documentation, signatures, corporate seals.  

    

    
      
        (d)
          Borrower
          shall have established a bank account in accordance with Lender’s
          requirement.

      

    

    

    (e) One
      bank
      working day prior to the withdrawal date, Borrower shall have provided Lender
      with the completed withdrawal request and documentation for the use of proceeds
      of the funds being proposed to be withdrawn.

    

    (f) Borrower
      shall have provided Lender with a copy of the board resolutions and other
      corporate governance related documentation approving the proposed fund
      withdrawal.

    

    (g) Borrower
      shall have provided any other documentation as legally required and/or agreed
      to
      by the parties.

    

    If
      any of
      the foregoing conditions has not been satisfied and unless otherwise waived
      by
      Lender, Lender shall have the right to refuse Borrower’s fund withdrawal
      request.

    

    
      	6.	
              Method
                and Time for Fund Withdrawal

            

    

    

    (a) Borrower
      shall withdraw fund as follows: the loan amount to be withdrawn in full within
      30 days of January 11, 2008.

    

    (b) Lender
      shall have the right to refuse Borrower’s fund withdrawal request with respect
      to any fund not withdrawn by the stated time. If Lender approves the withdrawal
      of any such fund, Lender shall have the right to a fee of 5% of the amount
      of
      such fund, as well as a fee of 5% of the amount of the fund that Lender does
      not
      approve for withdrawal.

    

    
      	7.	
              Repayment

            

    

    

    (a) Unless
      otherwise agreed to by the parties, Borrower shall repay the loan amount as
      follows: the entire principal on at the end of the term of this agreement.
      

    

    To
      alter
      the repayment schedule, Borrower must make written request to Lender five bank
      working days prior to the repayment date, with any alteration to be made
      pursuant to mutual writing of the parties.

    

    (b) Unless
      otherwise agreed to by the parties, Lender shall have the right to determine
      how
      to apply any amount received from Borrower in the event that there are both
      outstanding principal and interest, or in the event that Borrower has more
      than
      one loan due and outstanding with Lender.

    

    (c) Unless
      otherwise agreed to by the parties, Borrower shall have the right to prepay
      the
      loan, provided that Lender is notified in writing one bank working day in
      advance, with such prepayment to be applied first to the loan with the latest
      due date. Lender shall have the right to a fee of 5% of the amount of the
      prepayment. 

     

    (d) Borrower
      shall make payment as follows: one bank working day prior to a repayment date,
      Borrower shall deposit the payment amount into the account specified below,
      and
      Lender shall have the right to take such payment on the payment
      date.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    Account
      Name: Dalian Chuming Food Co., Ltd.

    Account
      No.: 07050408091001

    

    
      	8.	
              Guaranty

            

    

    

    (a) This
      agreement shall be guarantied as follows:

    

    (1) By
      Dalian
      Chuming Group Co., Ltd.’s 2005 Bank of China No. 024 Pledge Agreement;

    

    (2) By
      Dalian
      Chuming Group Co., Ltd.’s 2005 Bank of China No. 025 Pledge
      Agreement;

    

    (3) By
      Dalian
      Chuming Group Co., Ltd.’s 2006 Bank of China No. 044 Pledge
      Agreement;

    

    (4) By
      Dalian
      Food Co., Ltd.’s 2007 Bank of China No. 017 Pledge Agreement; 

    

    (5) By
      Dalian
      Mingxing Livestock Co., Ltd. 2007 Bank of China No. 018 Pledge
      Agreement;

    

    (6) By
      the
      2007 Bank of China No. 037 Guaranty Agreement of Shi Huashan and the other
      signatories of the Guaranty Agreement;

    

    (7) By
      the
      2007 Bank of China No. 038 Guaranty Agreement of Ma
      Fengqin and the other signatories of the Guaranty Agreement; and

    

    (8) By
      Dalian
      Chuming Group Co., Ltd.’s 2007 Bank of China No. 023 Pledge
      Agreement.

    

    (b) In
      the
      event of any of the following, Lender shall have the right to require Borrower
      to furnish new guaranty and/or guarantor with respect to the obligations herein,
      and Borrower shall have the obligation to comply: (i) if Lender determines
      that
      an event may affect the ability of Borrower or any of the guarantors to perform
      its obligations herein, (ii) if any of the guaranty agreements shall become
      ineffective or is terminated, (iii) if the financial conditions of Borrower
      or
      any of the guarantors deteriorate or if Borrower or a guarantor becomes a party
      in a major litigation proceeding, (iv) if any guarantor is party to another
      agreement such as to conflict with such guarantor’s obligations herein or to
      Borrower, or (v) if any pledged assets depreciates in value, is destroyed,
      seized or otherwise lost. 

    

    
      	9.	
              Representations
                and Warranties

            

    

    

    (a) Borrower
      hereby represents as follows:

    

    (1) Borrower
      has complied with the legal requirements in entering into this
      agreement;

    

    (2) Borrower
      has acted in accordance with by its bylaws and/or other internal corporate
      governance documentation and is authorized to enter into this agreement, which
      shall not violate any other agreements or legal documents of which Borrower
      is a
      party to, and Borrower has or will have obtained all necessary approvals,
      licenses or registrations as required by this agreement;

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    (3) All
      documents, financial statements, certificates and information provided by
      Borrower are accurate, complete and/or in effect; 

    

    (4) Borrower
      is not borrowing money for any illegal purposes; and

    

    (5) Borrower
      has not withheld from Lender any information regarding the financial conditions
      of Borrower or any of the guarantors, or its ability to perform its contractual
      obligations.

    

    (b) Borrower
      hereby warrants as follows:

    

    (1) Borrower
      shall, periodically or at Lender’s request, provide financial statements,
      including but not limited to annual, quarterly and monthly reports, as well
      as
      any other related information;

    

    (2) If
      Borrower is already a party to, or shall enter into any agreement on behalf
      of
      any of the guarantors that obligates Borrower to provide guaranty to such
      guarantor, any such agreement shall not diminish any of Lender’s rights under
      this agreement;

    

    (3) Borrower
      shall submit to and cooperate with any credit verification and/or inspection
      by
      Lender;

    

    (4) Borrower
      shall notify Lender of any possible event that may affect the Borrower’s or any
      of the guarantors’ financial conditions or ability to perform the contractual
      obligations, which event shall include but is not limited to the following,
      any
      of which shall require the prior consent of Lender if such event shall affect
      Borrower’s ability to repay: spin-off, merger, foreign investment, cooperation,
      take-over, reorganization, restructuring, going public or other management
      changes, decrease in registered capital, transfer of major asset or equity,
      incurring major debt or securing such debt with pledged assets, seizure or
      forced sale of pledged assets, voluntary or forced bankruptcy, becoming a party
      in a major litigation proceeding, deterioration of financial conditions, or
      contractual breach by Borrower;

    

    (5) Lender
      shall have priority over all other loans of Borrower and shall not be subject
      to
      subordination of other lenders. 

    

    (6) Borrower
      shall not make any dividend payments to its stockholders in the event that
      Borrower shall have audited zero profit or loss after tax, if Borrower’s audited
      after-tax profit is less than the then accumulated loss, if Borrower fails
      to
      apply audited before-tax profit toward payment of the principal, interest and/or
      fees under this agreement, or if Borrower’s audited before-tax profit is less
      than the then applicable required payment amount; and

    

    (7) Borrower
      shall not otherwise dispose its assets in order to reduce its obligations to
      repay, and shall not provide guaranty for an amount greater than 1.5 times
      Borrower’s net asset value, or for an amount or transaction that is contrary to
      Borrower’s bylaws. 

    

    
      	10.	
              Lender
                has determined that Borrower is a group client in accordance with
                the
                Commercial Banking Group Client Credit Risk Management Guide. Borrower
                shall periodically report to Lender of any transaction involving
                an amount
                greater than 10% of Borrower’s reported net asset, including the parties
                and their contact information, and the purpose, amount and terms
                of the
                transaction. 

            

    

    

    Lender
      shall have the right unilaterally to withhold any fund from Borrower and to
      seek
      early repayment of principal and all outstanding interest in the event of any
      of
      the following: (i) use of false contracts between related parties; (ii) issuance
      of accounts payable based on non-existing transactions; (iii) creating false
      accounts receivable for the purpose of obtaining funds or credit from, or
      providing guaranty to other banking institutions; (iv) entering into any
      material merger, acquisition or restructuring that may adversely affect the
      repayment of the loan; (v) avoidance of loan obligations through related party
      transactions; or (vi) any other circumstances as specified in Section 18 of
      the
      Commercial Banking Group Client Credit Risk Management Guide.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	11.	
              Default

            

    

    

    The
      following shall be deemed an event of default:

    

    (a) Borrower
      fails to make timely payment to Lender;

    

    (b) Borrower
      uses any fund for purposes contrary to the stated use of proceeds;

    

    (c) If
      any of
      Borrower’s representation is untrue, or if Borrower breaches any of its
      warranties;

    

    (d) On
      the
      occurrence of any of the events described in Section 9(b)(4) of this agreement,
      Borrower fails to provide new guaranty and/or guarantor;

    

    (e) Borrower
      acts in contravention of any of the rights of the parties herein;

    

    (f) Borrower
      causes an event of default of any contract of which Lender or any other Bank
      of
      China related entity is a party; 

    

    (g) A
      breach
      by a guarantor of its guaranty agreement, or if a guarantor causes an event
      of
      default of any contract of which Lender or any other Bank of China related
      entity is a party; or

    

    (h) 
      Borrower
      ceases all business operations, is dissolved or files for
      bankruptcy.

    

    In
      the
      event of default, Lender shall have the right to take any one or all of the
      following actions:

    

    (a) To
      require Borrower and/or the guarantor to take corrective actions within a
      specified time period;

    

    (b) To
      halt,
      reduce or terminate all or part of Borrower’s credit limit;

    

    (c) To
      halt,
      reduce or terminate all or part of Borrower’s then pending fund withdrawal
      request, as well as any non-withdrawn fund;

    

    (d) To
      declare any outstanding amount owing to Lender, whether or not pursuant to
      this
      agreement, immediately due; 

    

    (e) To
      terminate this agreement in whole or in part, or to terminate such other
      agreements between Lender and Borrower;

    

    (f) To
      obligate Borrower to pay all damages resulting from the event of
      default;

    

    (g) To
      apply
      any funds held in Borrower’s account with Lender or any Bank of China related
      entity toward payment of all or part of Borrower’s obligations under this
      agreement, with notice to Borrower prior to or after the taking of such action
      by Lender, and the value of any property held in such account shall be
      determined by Lender at the time of seizure;

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    (h) To
      exercise its rights with respect to the pledged assets;

    

    (i) To
      require the guarantors to perform their obligations under the guaranty
      agreements; or

    

    (j) To
      take
      any such other actions as Lender may deem necessary. 

    

    
      	12.	
              Reservation
                of Rights

            

    

    

    Any
      party’s failure to require strict performance by the other party of any
      provision of this agreement shall not waive, affect, or diminish any right
      of
      that party thereafter to demand strict performance and compliance therewith.
      

    

    Each
      party has all rights and remedies provided under by law and under this
      agreement. A party’s waiver or delay of any of its rights is not a continuing
      waiver, election, or acquiescence.

    

    
      	13.	
              Amendment
                and Termination

            

    

    

    This
      agreement may be amended in writing by the parties after discussion, any such
      amendment being made a part of this agreement. 

    

    Except
      as
      otherwise required by law or by contract, no right herein shall terminate prior
      to the termination of this agreement. 

    

    Except
      as
      otherwise required by law or by contract, each provision of this agreement
      is
      severable from every other provision in determining the enforceability of any
      provision.

    

    
      	14.	
              Governing
                Law; Dispute Resolution

            

    

    

    This
      agreement shall be governed by the laws of the People’s Republic of
      China.

    

    After
      this agreement is in effect, any dispute arising therefrom shall be resolved
      by
      the parties through negotiation. If the dispute remains unresolved, either
      party
      may initiate legal proceeding before the People’s Court where Lender or any Bank
      of China related entity is located. 

    

    
      	15.	
              Fees

            

    

    

    Except
      as
      otherwise required by law or by contract, all fees incurred in preparing or
      carrying out this agreement, or relating to any dispute arising from this
      agreement (including but not limited to legal fees) shall be borne by Borrower.
      

    

    
      	16.	
              Attachments

            

    

    

    The
      following attachments have been negotiated by the parties and shall constitute
      a
      part of this agreement, having the same legal effect: 

    

    (a) Form
      of
      fund withdrawal request; and

    

    (b) Form
      of
      receipt for borrowed fund.

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    
      	
              17.

            	
              Other
                Agreements

            

    

    

    (a) Borrower
      may not assign or otherwise transfer any rights or obligations under this
      agreement to a third party without Lender’s written consent.

    

    (b) Borrower
      hereby consent to the assignment or transfer by Lender of its rights and
      obligations under this agreement to another Bank of China related entity, with
      such entity, upon assignment or transfer, having all rights of Lender under
      this
      agreement, including the right to initiate legal proceeding in the name of
      Lender to enforce this agreement. 

    

    (c) This
      Agreement binds and is for the benefit of the successors and permitted assigns
      of each party, to the extent that doing so shall not effect any other terms
      of
      this agreement. 

    

    (d) Except
      as
      otherwise contracted, notices shall be provided to the parties at the addresses
      and contact information contained herein, and each party shall notify the other
      party in writing in the event such information changes.

    

    (e) All
      transactions under this agreement are in consideration of each party’s own
      interest. If any third party is deemed a related party to Borrower pursuant
      to
      applicable laws, regulations and financial ordinances, such third party shall
      be
      prohibited from intervening in the fairness of this agreement. 

    

    (f) All
      titles and headings used in this agreement are for purpose of reference only,
      and shall not be used to define the rights and/or obligations of the parties
      herein. 

    

    
      	18.	
              Effectiveness
                

            

    

    

    This
      agreement shall become effective upon execution by the legal representatives
      of
      the parties hereto, and the application of their respective seals. This
      agreement shall have two original copies with equal legal effect, with each
      party to hold one such copy.

    

      
        	
                Borrower:

              	
                Lender:

              
	 	 
	
                Dalian
                  Chuming Food Co., Ltd. 

              	
                Bank
                  of China Corp., Liaoning Branch

              
	 	 
	
                [seal]

              	
                [seal]

              
	 	 
	
                Legal
                  Representative: /s/ MA Fengqing

              	
                Authorized
                  Representative: /s/ LI Wu

              
	 	 
	
                January
                  11, 2008

              	
                January
                  11, 2008

              
	 	 

      

    

     

    
      
        
        

      

      
        8Unassociated Document

    (English
      Translation)

    

    Short-Term
      Renminbi Loan Agreement

    No.:
      2007
      Bank of China 0169

    

      
        	
                Borrower:

              	
                Dalian
                  Chuming Meat Co., Ltd.

              
	 	 	 	 
	
                Business
                  License No.:

              	
                Dalian
                  Bureau of Industry and Commerce 2102812123719

              
	 	 	 	 
	
                Legal
                  Representative:

              	
                SHI,
                  Huashan

              
	 	 	 	 
	
                Business
                  Address: 

              	
                No.
                  2026 Zhuanshi Street, Wafangdian, Dalian City

              
	
                Zip
                  code: 

              	
                116000

              	 	 
	 	 	 	 
	
                Bank
                  Account:

              	
                Bank
                  of China Liaoning Branch 26586008093001

              
	 	 	 	 
	
                Telephone:

              	
                86716585

              	
                Facsimile:

              	
                86716686

              
	 	 	 	 
	 	 	 	 
	
                Lender:

              	
                Bank
                  of China Corp., Liaoning Branch (Bank of China Liaoning
                  Branch)

              
	 	 	 	 
	
                Authorized
                  Personnel:

              	
                DONG,
                  JianYue

              
	 	 	 	 
	
                Business
                  Address:

              	
                No.9,
                  Zhongshan Plaza, Dalian City

              	
                Zip
                  code: 116001

              
	 	 	 	 
	
                Telephone:

              	
                862586901

              	
                Facsimile:

              	
                82586779

              

      

    

     

    Negotiating
      on equal standings, Borrower and Lender enters into this agreement to facilitate
      Lender lending Renminbi (RMB) to Borrower on a short-term basis.

    

    This
      agreement is entered into under the 2007 Bank Credit Agreement No. 032 between
      Bank of China Corp., Liao Ning Branch and Dalian Chuming Group Co., Ltd.

    

    
      	1.	
              Loan
                Amount

            

    

    

    Loan
      Amount: RMB 30,000,000 (approximately $4.3 million) 

    

    
      	2.	
              Term
                of the Loan

            

    

    

    Term
      of
      the Loan: 11 months, beginning from the date the fund is withdrawn, provided
      that if fund is withdrawn in installments, then beginning from the withdrawal
      date of the first installment.

    

    
      	3.	
              Use
                of Proceeds

            

    

    

    Use
      of
      Proceeds: working capital

    

    Without
      Lender’s prior written consent, Borrower shall not use the funds for any other
      purposes, including without limitations to acquire stock or make other equity
      investment, and shall not use the funds in violation of any laws or regulations
      or for purposes prohibited or not legally approved by the State or contrary
      to
      the stated use of proceeds.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    
      	
              4.

            	
              Interest

            

    

    

    (a) Interest

    

    Interest
      shall be determined as follows: Fixed interest of 8.217% per annum, fixed during
      the term of this agreement.

    

    (b) Calculation
      of Interest

    

    Interest
      shall be calculated from the date the fund is withdrawn, based on the amount
      withdrawn and the number of days the withdrawn fund is used.

    

    Interest
      = principal X number of days X daily interest

    

    Daily
      interest is based on a 360-day year, such that daily interest = annual
      interest/360

    

    (c) Payment
      of Interest

    

    Borrower
      shall pay interest as follows: quarterly payment, with the payment amount
      determined as of the 20th day of the last month of each quarter and the payment
      date being the 21st day.

    

    Whether
      or not the final principal payment day falls on an interest payment day,
      Borrower shall pay all accrued interest.

    

    (d) Penalty
      

    

    (1) With
      respect to any untimely payment by Borrower, this penalty provision shall apply
      immediately after the date of the scheduled payment date until the penalty
      amount is fully paid, with the penalty being set at 50% of the contracted
      interest rate.

    

    (2) With
      respect to any fund not used by Borrower in accordance with the use of proceeds,
      this penalty provision shall apply immediately beginning on the date such fund
      was used until the penalty amount is fully paid, with the penalty being set
      at
      100% of the contracted interest rate.

    

    (3)
       If
      an
      amount of fund is used in breach of the use of proceeds and the repayment of
      such fund is untimely, the penalty for such fund shall be set in accordance
      with
      (2) above. 

    

    (4) If
      Borrower cannot timely make interest payment, interest on such payment shall
      be
      calculated the interest pursuant to Section 4(c) of this agreement. Any interest
      due prior to the loan maturity date shall be calculated in accordance with
      Section 4(a) of this agreement.

    

    
      	5.	
              Conditions
                for Fund Withdrawal

            

    

    

    Borrower
      must satisfy the following prior to withdrawal of funds:

    

    (a) This
      agreement and any addendums shall be in effect.

    

    (b) Borrower
      shall have complied with Lender’s requirement for guaranty, with such guaranty
      being legally in effect.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    (c) Borrower
      shall have provided to Lender in advance a copy of this agreement and all
      related documentation, signatures, corporate seals.  

    

    
      
        (d)
          Borrower
          shall have established a bank account in accordance with Lender’s
          requirement.

      

    

    

    (e) One
      bank
      working day prior to the withdrawal date, Borrower shall have provided Lender
      with the completed withdrawal request and documentation for the use of proceeds
      of the funds being proposed to be withdrawn.

    

    (f) Borrower
      shall have provided Lender with a copy of the board resolutions and other
      corporate governance related documentation approving the proposed fund
      withdrawal.

    

    (g) Borrower
      shall have provided any other documentation as legally required and/or agreed
      to
      by the parties.

    

    If
      any of
      the foregoing conditions has not been satisfied and unless otherwise waived
      by
      Lender, Lender shall have the right to refuse Borrower’s fund withdrawal
      request.

    

    
      	6.	
              Method
                and Time for Fund Withdrawal

            

    

    

    (a) Borrower
      shall withdraw fund as follows: the loan amount to be withdrawn in full within
      30 days of December 27, 2007.

    

    (b) Lender
      shall have the right to refuse Borrower’s fund withdrawal request with respect
      to any fund not withdrawn by the stated time. If Lender approves the withdrawal
      of any such fund, Lender shall have the right to a fee of 5% of the amount
      of
      such fund, as well as a fee of 5% of the amount of the fund that Lender does
      not
      approve for withdrawal.

    

    
      	7.	
              Repayment

            

    

    

    (a) Unless
      otherwise agreed to by the parties, Borrower shall repay the loan amount as
      follows: the entire principal on at the end of the term of this agreement.
      

    

    To
      alter
      the repayment schedule, Borrower must make written request to Lender five bank
      working days prior to the repayment date, with any alteration to be made
      pursuant to mutual writing of the parties.

    

    (b) Unless
      otherwise agreed to by the parties, Lender shall have the right to determine
      how
      to apply any amount received from Borrower in the event that there are both
      outstanding principal and interest, or in the event that Borrower has more
      than
      one loan due and outstanding with Lender.

    

    (c) Unless
      otherwise agreed to by the parties, Borrower shall have the right to prepay
      the
      loan, provided that Lender is notified in writing one bank working day in
      advance, with such prepayment to be applied first to the loan with the latest
      due date. Lender shall have the right to a fee of 5% of the amount of the
      prepayment. 

     

    (d) Borrower
      shall make payment as follows: one bank working day prior to a repayment date,
      Borrower shall deposit the payment amount into the account specified below,
      and
      Lender shall have the right to take such payment on the payment
      date.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

       

    

    Account
      Name: Dalian Chuming Meat Co., Ltd.

    Account
      No.: 26586008093001

    

    
      	8.	
              Guaranty

            

    

    

    (a) This
      agreement shall be guarantied as follows:

    

    (1) By
      Dalian
      Chuming Group Co., Ltd.’s 2005 Bank of China No. 024 Pledge Agreement;

    

    (2) By
      Dalian
      Chuming Group Co., Ltd.’s 2005 Bank of China No. 025 Pledge
      Agreement;

    

    (3) By
      Dalian
      Chuming Group Co., Ltd.’s 2006 Bank of China No. 044 Pledge
      Agreement;

    

    (4) By
      Dalian
      Food Co., Ltd.’s 2007 Bank of China No. 017 Pledge Agreement; 

    

    (5) By
      Dalian
      Mingxing Livestock Co., Ltd. 2007 Bank of China No. 018 Pledge
      Agreement;

    

    (6) By
      Dalian
      Mingxing Livestock Co., Ltd. 2005 Bank of China No. 002 Pledge
      Agreement;

    

    (7) By
      the
      2007 Bank of China No. 037 Guaranty Agreement of Shi Huashan and the other
      signatories of the Guaranty Agreement;

    

    (8) By
      the
      2007 Bank of China No. 038 Guaranty Agreement of Ma
      Fengqin and the other signatories of the Guaranty Agreement; and

    

    (9) By
      Dalian
      Chuming Group Co., Ltd.’s 2007 Bank of China No. 023 Pledge
      Agreement.

    

    (b) In
      the
      event of any of the following, Lender shall have the right to require Borrower
      to furnish new guaranty and/or guarantor with respect to the obligations herein,
      and Borrower shall have the obligation to comply: (i) if Lender determines
      that
      an event may affect the ability of Borrower or any of the guarantors to perform
      its obligations herein, (ii) if any of the guaranty agreements shall become
      ineffective or is terminated, (iii) if the financial conditions of Borrower
      or
      any of the guarantors deteriorate or if Borrower or a guarantor becomes a party
      in a major litigation proceeding, (iv) if any guarantor is party to another
      agreement such as to conflict with such guarantor’s obligations herein or to
      Borrower, or (v) if any pledged assets depreciates in value, is destroyed,
      seized or otherwise lost. 

    

    
      	9.	
              Representations
                and Warranties

            

    

    

    (a) Borrower
      hereby represents as follows:

    

    (1) Borrower
      has complied with the legal requirements in entering into this
      agreement;

    

    (2) Borrower
      has acted in accordance with by its bylaws and/or other internal corporate
      governance documentation and is authorized to enter into this agreement, which
      shall not violate any other agreements or legal documents of which Borrower
      is a
      party to, and Borrower has or will have obtained all necessary approvals,
      licenses or registrations as required by this agreement;

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

       

    

    (3) All
      documents, financial statements, certificates and information provided by
      Borrower are accurate, complete and/or in effect; 

    

    (4) Borrower
      is not borrowing money for any illegal purposes; and

    

    (5) Borrower
      has not withheld from Lender any information regarding the financial conditions
      of Borrower or any of the guarantors, or its ability to perform its contractual
      obligations.

    

    (b) Borrower
      hereby warrants as follows:

    

    (1) Borrower
      shall, periodically or at Lender’s request, provide financial statements,
      including but not limited to annual, quarterly and monthly reports, as well
      as
      any other related information;

    

    (2) If
      Borrower is already a party to, or shall enter into any agreement on behalf
      of
      any of the guarantors that obligates Borrower to provide guaranty to such
      guarantor, any such agreement shall not diminish any of Lender’s rights under
      this agreement;

    

    (3) Borrower
      shall submit to and cooperate with any credit verification and/or inspection
      by
      Lender;

    

    (4) Borrower
      shall notify Lender of any possible event that may affect the Borrower’s or any
      of the guarantors’ financial conditions or ability to perform the contractual
      obligations, which event shall include but is not limited to the following,
      any
      of which shall require the prior consent of Lender if such event shall affect
      Borrower’s ability to repay: spin-off, merger, foreign investment, cooperation,
      take-over, reorganization, restructuring, going public or other management
      changes, decrease in registered capital, transfer of major asset or equity,
      incurring major debt or securing such debt with pledged assets, seizure or
      forced sale of pledged assets, voluntary or forced bankruptcy, becoming a party
      in a major litigation proceeding, deterioration of financial conditions, or
      contractual breach by Borrower;

    

    (5) Lender
      shall have priority over all other loans of Borrower and shall not be subject
      to
      subordination of other lenders. 

    

    (6) Borrower
      shall not make any dividend payments to its stockholders in the event that
      Borrower shall have audited zero profit or loss after tax, if Borrower’s audited
      after-tax profit is less than the then accumulated loss, if Borrower fails
      to
      apply audited before-tax profit toward payment of the principal, interest and/or
      fees under this agreement, or if Borrower’s audited before-tax profit is less
      than the then applicable required payment amount; and

    

    (7) Borrower
      shall not otherwise dispose its assets in order to reduce its obligations to
      repay, and shall not provide guaranty for an amount greater than 1.5 times
      Borrower’s net asset value, or for an amount or transaction that is contrary to
      Borrower’s bylaws. 

    

    
      	10.	
              Lender
                has determined that Borrower is a group client in accordance with
                the
                Commercial Banking Group Client Credit Risk Management Guide. Borrower
                shall periodically report to Lender of any transaction involving
                an amount
                greater than 10% of Borrower’s reported net asset, including the parties
                and their contact information, and the purpose, amount and terms
                of the
                transaction. 

            

    

    

    Lender
      shall have the right unilaterally to withhold any fund from Borrower and to
      seek
      early repayment of principal and all outstanding interest in the event of any
      of
      the following: (i) use of false contracts between related parties; (ii) issuance
      of accounts payable based on non-existing transactions; (iii) creating false
      accounts receivable for the purpose of obtaining funds or credit from, or
      providing guaranty to other banking institutions; (iv) entering into any
      material merger, acquisition or restructuring that may adversely affect the
      repayment of the loan; (v) avoidance of loan obligations through related party
      transactions; or (vi) any other circumstances as specified in Section 18 of
      the
      Commercial Banking Group Client Credit Risk Management Guide.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

       

    

    
      	
              11.

            	
              Default

            

    

    

    The
      following shall be deemed an event of default:

    

    (a) Borrower
      fails to make timely payment to Lender;

    

    (b) Borrower
      uses any fund for purposes contrary to the stated use of proceeds;

    

    (c) If
      any of
      Borrower’s representation is untrue, or if Borrower breaches any of its
      warranties;

    

    (d) On
      the
      occurrence of any of the events described in Section 9(b)(4) of this agreement,
      Borrower fails to provide new guaranty and/or guarantor;

    

    (e) Borrower
      acts in contravention of any of the rights of the parties herein;

    

    (f) Borrower
      causes an event of default of any contract of which Lender or any other Bank
      of
      China related entity is a party; 

    

    (g) A
      breach
      by a guarantor of its guaranty agreement, or if a guarantor causes an event
      of
      default of any contract of which Lender or any other Bank of China related
      entity is a party; or

    

    (h) 
      Borrower
      ceases all business operations, is dissolved or files for
      bankruptcy.

    

    In
      the
      event of default, Lender shall have the right to take any one or all of the
      following actions:

    

    (a) To
      require Borrower and/or the guarantor to take corrective actions within a
      specified time period;

    

    (b) To
      halt,
      reduce or terminate all or part of Borrower’s credit limit;

    

    (c) To
      halt,
      reduce or terminate all or part of Borrower’s then pending fund withdrawal
      request, as well as any non-withdrawn fund;

    

    (d) To
      declare any outstanding amount owing to Lender, whether or not pursuant to
      this
      agreement, immediately due; 

    

    (e) To
      terminate this agreement in whole or in part, or to terminate such other
      agreements between Lender and Borrower;

    

    (f) To
      obligate Borrower to pay all damages resulting from the event of
      default;

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

       

    

    (g) To
      apply
      any funds held in Borrower’s account with Lender or any Bank of China related
      entity toward payment of all or part of Borrower’s obligations under this
      agreement, with notice to Borrower prior to or after the taking of such action
      by Lender, and the value of any property held in such account shall be
      determined by Lender at the time of seizure;

    

    (h) To
      exercise its rights with respect to the pledged assets;

    

    (i) To
      require the guarantors to perform their obligations under the guaranty
      agreements; or

    

    (j) To
      take
      any such other actions as Lender may deem necessary. 

    

    
      	12.	
              Reservation
                of Rights

            

    

    

    Any
      party’s failure to require strict performance by the other party of any
      provision of this agreement shall not waive, affect, or diminish any right
      of
      that party thereafter to demand strict performance and compliance therewith.
      

    

    Each
      party has all rights and remedies provided under by law and under this
      agreement. A party’s waiver or delay of any of its rights is not a continuing
      waiver, election, or acquiescence.

    

    
      	13.	
              Amendment
                and Termination

            

    

    

    This
      agreement may be amended in writing by the parties after discussion, any such
      amendment being made a part of this agreement. 

    

    Except
      as
      otherwise required by law or by contract, no right herein shall terminate prior
      to the termination of this agreement. 

    

    Except
      as
      otherwise required by law or by contract, each provision of this agreement
      is
      severable from every other provision in determining the enforceability of any
      provision.

    

    
      	14.	
              Governing
                Law; Dispute Resolution

            

    

    

    This
      agreement shall be governed by the laws of the People’s Republic of
      China.

    

    After
      this agreement is in effect, any dispute arising therefrom shall be resolved
      by
      the parties through negotiation. If the dispute remains unresolved, either
      party
      may initiate legal proceeding before the People’s Court where Lender or any Bank
      of China related entity is located. 

    

    
      	15.	
              Fees

            

    

    

    Except
      as
      otherwise required by law or by contract, all fees incurred in preparing or
      carrying out this agreement, or relating to any dispute arising from this
      agreement (including but not limited to legal fees) shall be borne by Borrower.
      

    

    
      	16.	
              Attachments

            

    

    

    The
      following attachments have been negotiated by the parties and shall constitute
      a
      part of this agreement, having the same legal effect: 

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

       

    

    (a) Form
      of
      fund withdrawal request; and

    

    (b) Form
      of
      receipt for borrowed fund.

    

    
      	17.	
              Other
                Agreements

            

    

    

    (a) Borrower
      may not assign or otherwise transfer any rights or obligations under this
      agreement to a third party without Lender’s written consent.

    

    (b) Borrower
      hereby consent to the assignment or transfer by Lender of its rights and
      obligations under this agreement to another Bank of China related entity, with
      such entity, upon assignment or transfer, having all rights of Lender under
      this
      agreement, including the right to initiate legal proceeding in the name of
      Lender to enforce this agreement. 

    

    (c) This
      Agreement binds and is for the benefit of the successors and permitted assigns
      of each party, to the extent that doing so shall not effect any other terms
      of
      this agreement. 

    

    (d) Except
      as
      otherwise contracted, notices shall be provided to the parties at the addresses
      and contact information contained herein, and each party shall notify the other
      party in writing in the event such information changes.

    

    (e) All
      transactions under this agreement are in consideration of each party’s own
      interest. If any third party is deemed a related party to Borrower pursuant
      to
      applicable laws, regulations and financial ordinances, such third party shall
      be
      prohibited from intervening in the fairness of this agreement. 

    

    (f) All
      titles and headings used in this agreement are for purpose of reference only,
      and shall not be used to define the rights and/or obligations of the parties
      herein. 

    

    
      	18.	
              Effectiveness
                

            

    

    

    This
      agreement shall become effective upon execution by the legal representatives
      of
      the parties hereto, and the application of their respective seals. This
      agreement shall have two original copies with equal legal effect, with each
      party to hold one such copy.

     

    
      
        	
                Borrower:

              	
                Lender:

              
	 	 
	
                Dalian
                  Chuming Meat Co., Ltd. 

              	
                Bank
                  of China Corp., Liaoning Branch

              
	 	 
	
                [seal]

              	
                [seal]

              
	 	 
	
                Legal
                  Representative: /s/ SHI Huashan

              	
                Authorized
                  Representative: /s/ LI Wu

              
	 	 
	
                December
                  27, 2007

              	
                December
                  27, 2007

              

      

    

    
       

    

    
      
         

      

      
        8

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