Document:

Maximum Amount Loan
Agreement

 

Bank of Ningbo

 

    	 

    	 

    

 

Maximum Amount Loan Agreement

 

No. 07001EK 20120018

 

Lender: Bank of Ningbo, Shanghai Branch

 

Borrower: Shanghai Hailu Kunlun Hi-tech
Engineering Co.,Ltd

 

Whereas the Lender will enter into loan
business with the Borrower during the period which set in term 1.2 of this agreement and in order to ensure the security of Lender’s
creditor's rights, definite two parities’ rights and obligations, the Lender and the Borrower enter into this Agreement in
relation to the provision of relevant loan by the Lender to the Borrower.

 

Maximum Amount and Period

 

		1.1	The max loan amount is decided by the Lender which will be provided to borrower and allow the Borrower
to turnover. The max loan amount in this agreement only effective under this agreement. The same borrower can make several <Maximum
Amount Loan Agreement> with lender and meanwhile hold the several maximum amounts, each of the maximum amount loan agreement
is separate from the other. The same borrower can also enter into the <Maximum Amount Loan Agreement > and other credit business
agreement with the lender, each is separate from each other, except the special engagement made by both parities.

		1.2	The Lender agrees to provide the max amount
of RMB 4.5 million loan to the Borrower in the period of from 2012/01/09 to 2015/01/08, and based on the status
of applicant’s credit, the cash flow, guarantees, the Lender
has the right to provide the loan in once or several times. The drawdown for the loan during the period of above will not need
to set another new contract, but the maturity date of these drawdown can not exceed 2015/01/08. Please note that this term
have no effect on the Lender’s rights under term 3.3 of this Agreement.

		1.3	Both parties agree that although the max
amount is used to provide loan to the Borrower, with the approval of the Lender, the Borrower can take the max amount to do other
credit business, including but not limited to Bank acceptance, Bank
Guarantee, L&C and so on. The detail rights and obligation
will be clarified in the other business agreement signed by both parties, including but not limited to <Bank acceptance agreement
><Bank guarantee contract><L&C Agreement> <Import Financing contract> and so on.

		1.4	Both parties agree that the Lender has the rights to adjust the max amount under this loan agreement
according to the Borrower’s status of Credit, Cash flow, Guarantees etc. The adjustment will not be approved by the Borrower,
and there is no need to provide the explanation to the Borrower. It should have its effect once the decision made by the Lender.

 

    	 

    	 

    

 

		1.5	The notice of the adjustment of max amount will delivered to the Borrower by the ways agreed in this
agreement by the Lender. Please note that the Lender has no legal obligation for the delivery. If there is any reason that resulted
the Borrower has not received the notice on time, or does not receive the notice, then there is no effect on the adjustment of
the max amount and the Lender has no any legal responsibility for this.

		1.6	During the period of the agreement, the detail currency, amount, time, interest rate and method of
repayment should base on the related due bills (including the electronic bank, the due bills of electronic bank), the Borrower
has no objection. The due bills are the integral components of this agreement.

		1.7	If the max amount of loan is decreased, which lead to the unliquidated debt is above the max amount,
then the Borrower’s debt should as the same as the amount that un-repaid by the Borrower.

 

Conditions of Loan

 

2.1 The period for the Borrower to fulfill
obligation should be decided by each specified transaction separately which agreed by two parties.

 

2.2
The interest should calculate from the date which the money has been transferred into the appointed bank account. Rate
per month= rate per year/12, rate per day = rate per year/360.

 

2.3 During the period of this agreement, the
interest rate of each loan should base on the rate the Lender provides. The lender has the rights to adjust the interest rate according
to it’s actual business situations and there is no need to notice the borrower in advance.

 

Before the loan provided, if the adjustment
of loan interest rate of The People's Bank of China is apply to the loan under this agreement, then should adjust the same interest
rate of this agreement and use the new interest rate; but for the loan which has provided, the interest rate should base on the
due bills and should adjust as following:

 

The time period of loan is less than one year,
the loan interest rate should adjust with method (1)

		(1)	Go on carrying out the original interest rate of related due bills , no sectional interest accrual

 

2.4 The settlement of interests under this
agreement should be by quarter, the interest settlement date should be the 20th of last month of each quarter. Payment
date shall be the next day to the interest settlement date and all the interest should be paid to the Lender with principal when
the term of the loan.

 

2.5 Drawdown

Except the whole or the part which the Lender
gives up, the borrower should meet blow requirements or else the Lender has the rights to reject the drawdown application

2.5.1 The Borrower is legally existing, and
takes the promise made in this agreement

 

    	 

    	 

    

 

2.5.2 Both of the agreement and the guarantee
agreement are in effect

2.5.3 The Borrower has fully filled the obligations
under this agreement and there is no default event under this agreement

2.5.4 The Borrower has prepared the documents
per the Lender’s requirement

2.6 Payment of the loan

The payment of the loan under this agreement
is set in two ways : one is the Lender entrusted payment and the other is Borrower payment.

 

Lender entrusted payment means the Lender
according to the Borrower’s drawdown application, provide the money to the transaction party based through the Borrower’s
account

 

Borrower payment means the Borrower receives
the loan in it’s bank account and then pay the money to the transaction party

 

2.6.1 The Borrower agrees that the Lender
can decide the loan payment method according to documents provided by the Borrower and related law

 

2.6.2 The borrower agrees that under the Lender
entrusted payment situation, the Lender provides the loan into the borrower’s account and transfers the money to transaction
party through the Borrower’s account

 

When
the loan is on the Borrower’s account, the Borrower can not withdraw these payments and during this period, if the payment
has the compulsive measures but not limited to freeze, deduct etc,
then the borrower should take the responsibility for that and also afford the repayment obligation

 

2.6.3 Whether the Lender entrusted payment
or the Borrower payment , it should be regarded as the successful drawdown once the payment is into the borrower’s named
account. After that, the Borrower should take the repayment obligation under this agreement

 

2.6.4
If use the lender entrusted payment, the borrower should prepare the business contract related to the loan usage per lender’s
requirement. The lender checks and agrees to do the money lending obligation. Or else the lender has the rights to refuse. If use
the borrower payment, the borrower should report the loan usage after money lending three month and also needs to provide the use
record and document. Borrower also needs to prepare the related account information, payment
document for lender’s checking or the lender has the rights which defined in the term 3.3 under this agreement

 

2.6.5 If Borrower payment is applicable, the
lender agrees the borrower to go to the lender’s counter or the Web bank, or the other methods which the lender agrees to
do the drawdown process. The borrower agrees to draw the loan according to the lender’s requirement.

 

    	 

    	 

    

 

2.7 Capital collecting account

The borrower should set
the special capital collecting account, which number is 70010122001528535 in the lender’s bank and provide the account status
to the lender. The lender has the rights to get the loan back in advance per the capital collecting status of the Borrower

 

2.8 Repayment account

The
borrower should set the special repayment account, which number is 70010122001528535 in the lender’s bank and pay enough
principal and interest in this account and authorize the lender to deduct in the account; if there is any unpaid principal and
interest of borrower, then he should pay into the account on time and authorize the lender can deduct the money at anytime. If
the interest rate is adjusted by the people's Bank of China, the borrower should pay the enough money into the account or the Borrower
will afford all the consequences, which has no relationship with lender. If the repayment account has the loss report, freezes,
settle up or the borrower needs to change the repayment account, the borrower
should do the account change procedure. If there is no enough money before the changing account, the borrower should go to the
counter. If the borrower can not do the modification of account or pay all the loan off on time, then the borrower should take
the responsibility of default.

 

2.9 Annual fees

2.9.1 The annual fee is collect by year. The
first collect date is the effective date of the max amount loan or the adjustment date. The later collect date shall be the match
date of the first collect date .Whatever reason, which lead the loan period is less than one year ,the paid annual fee will not
return by the Lender.

2.9.2 The borrower authorizes the lender to
deduct the annual fee in the opened account of the Borrower.

 

Rights and obligations of Lender

 

3.1 the lender has the rights to recovery
the loan principal and interest in advance according to this agreement or related due bills

 

3.2
the lender has the rights to know borrower’s operation status, financial
affairs, storage and the usage status of loan ,and also has the rights to check ,print ,record or use these basis information and
report through credit investigation system or the other system

 

3.3
if there is any event as following ,the Lender has the rights to announce all the credit acceleration
of maturity ,including but not limited to loan ,cash ,bank acceptance etc. and also has the rights to (1) reduce or cancel the
max loan amount in the agreement (2) terminate all the related contract ,agreement including but not limited to this agreement
(3) stop providing the new loan and announce to recovery all the loan principal and interest in advance (4) deduct all the loan
principal and interest from the borrower’s account(5) need borrower’s supplement for guarantee (6) bring a suit before
a people's court.(7) other Asset keeping measures. And meanwhile all the branches of bank of Ningbo also have the rights above.

 

    	 

    	 

    

 

		(1)	There is production halts, production breaking
, dissolution, cancellation
of registration, declare bankruptcy, business license revoked

		(2)	The borrower hides the important affair or provide the false document ,status or provide the false
report forms、warrant to the lender

		(3)	The borrower can not repay the principal and interest on time

		(4)	The borrower use the loan not according to this agreement

		(5)	The borrower does not fulfill obligation which set with lender or the third party

		(6)	The borrower disposal
any asset before repay the money to the lender ,which will has the effect on its ability for repayment

		(7)	The credit decreases ,or there is any difficult on the borrower’s operation, cause temporary
trouble in financing status

		(8)	The borrower does not repay the loan according to the engaged ways

		(9)	There is any economic dispute, or seizing assets, etc.

		(10)	The borrower is indicted due to break laws and commit crime or the legal person is keep in custody
, arrested , indicted or condemn

		(11)	The borrower does not fulfill any one of obligation under this contract or break any promise during
the contract

		(12)	guarantee contract lose effectiveness or the guarantee ability decrease

		(13)	The guarantee person breaks the promise

		(14)	Besides above, another issues which has the bad effect to the repayment of the borrower.

The lender has the rights to determine
above situations independently.

 

3.4 During the process of repay loan, the
lender has the rights to do below followings (1) change the Borrower payment into entrusted payment (2) stop to provide the loan
and payment (3) discuss the supplemental loan and payment conditions with the borrower

 

		(1)	The credit of borrower has decreased

		(2)	The profit ability of borrower’s business is not strong

		(3)	There is any strange during the borrower’s usage

 

3.5
If the borrower can not repay the loan principal and interest, compound
interest, default interest and other debt, the lender has the rights
to deduct the apply amount from the borrower’s account in the bank of Ningbo. If lender needs to deduct the fixed deposit
which doesn’t become due, then lender will take all in advance and calculate per the current interest rate on the taking
date. If the lender needs to take part of money, the taken part needs to calculate per the current interest rate on the taking
date, and the left part will be calculated per the current interest rate of the opening fixed deposit date. The borrower should
afford the interest loss.

 

    	 

    	 

    

 

3.6
If there is any default of the borrower under this agreement or escape
the lender’s inspection or there is any false important undertakings provided by borrower. The lender has the rights to disclose
the default information and send the information to the collection Institution or report to the related department. Meanwhile,
the lender has the rights to ascertain where the responsibility lies of borrower per the related law and regulations

 

3.7 The lender has the rights to join the
actives of borrower’s, such as financing, assets sales, liquidate and so on

 

3.8 Borrowers and mortgage person should make
the mortgage registration according to the law, property insurance, legal procedures, and the guarantees based on the requirements
of lenders, insurance remains in force, the lender has the right to request to become first person requesting insurance, and get
a copy of the relevant insurance contracts or insurance document, otherwise the lender has the right to refuse to provide loans
under this contract

 

3.9 The lender has the right to require the
borrower loan accounts in a timely manner

 

3.10 Under the fulfill of the obligation of
this agreement and the security contract by the Borrower and Guarantor, the Lender should provide the loan to the Borrower in accordance
with this agreement

 

Borrower commitments

 

4.1 The Borrower provides the truly, completed,
effect material

4.2 Coordinate with the lender for the management
of loan repayment and related examination

4.3 The Borrower shall not use the loan in
the investment or the other areas that are forbidden by laws and regulation. The Borrower shall not divide the payment into several
pieces to avoid the entrusted payment by Lender

4.4 The borrower promises to fulfill the obligation
under this agreement

 

Rights and obligations of borrower

 

5.1 The borrower has the rights to get and
use the loan according to the agreement

5.2 The borrower needs to repay the principal,
interest, compound
interest, default
interest, legal cost, execution fees, lawyer fee, travelling
costs and so on, and hereto authorize the Lender has the rights to deduct these expense according to term 3.5 of this agreement,
un-revoked

5.3 The borrower should use the loan according
to the agreement, no misappropriate and embezzle

5.4 The borrower should provide lender the
true and completed financial statement, and the other related information, and the Borrower should cooperate with lender for checking
its operation, financial status, storage and the usage of the loan

 

    	 

    	 

    

 

5.5 if the borrower has the leasing, shareholding
reform, joint
operation, merge,
joint venture,
asset transfer, suspend business to bring up to standard, bankrupt
which has the effect on the loan relationship of the lender . The borrower should notice the lender in written before these above
activity in 30 days advance and practicable its loan obligations. If there is no agreement of lender, the borrower can not take
above activity.

5.6 if there is any affair which does have
the big effect on the lender’s activity, the borrower should notice the lender in written in 3 days and practicable the repayment

5.7 if there is any guarantee of borrower
for the third party, which may has the effect on the repayment ability of borrower ,then borrower should notice the lender in written
and get the approval of lender

5.8 The borrower cannot transfer
financial resources,
Low-cost disposal, Donating assets or share transfer which will evade lender’s debts or weaken its repay ability

5.9 If there is any changing for borrower’s
name, legal representative , legal address, operation area, contact address, contact number , then the borrower should give the
written notice with other certificate to the lender in 5 days or the borrower should take the responsibility for all the consequence.

5.10 if there is any stop
production, ; cancellation of registration, bankrupt and other
situation for the guarantor under this contract ,which lead to weaken the part or all the guarantee ability , or there is any reducing
for the mortgage , the borrower should provide the other guarantee to the lender in 10 days

5.11 The borrower has the obligation to cooperate
the account checking with the lender

5.12
the borrower should afford the related lawyer fee , insurance fee, transport fee , register
fee, evaluation fee , guarantee
fee and other fee under this contract

5.13 The borrower should sign and return back
these Collection letters from lender through post at once or send the receipt to lender in 3 days

 

Guarantee

The guarantee contract under this agreement
is signed by lender and the guarantor, the NO. is 270018920120019 and 070010920120020

 

Breach of the agreement

 

7.1 After the agreement takes into effect,
both parties should take its Obligations and commitments, if there is any liability for breach of contract by any party, then the
party should undertake the corresponding responsibility and make
compensation for the other party

7.2 If there is any breach of contract for
lender, which leads to the loss of borrower, then the lender should make compensation for the borrower . The compensation area
should be direct losses, not include indirect losses and expected loss

7.3 If the loans is due (including the in
advance ), the borrower can not repay the principal and
interest, then from the overdue date , the lender will charge
the borrower the day interest rate and 50% floating up of the day interest rate for the default
interest per the actual days

 

    	 

    	 

    

 

7.4 If the borrower use the loan but not according
the description in the agreement, the lender has the rights to charge the borrower the day interest rate and 80% floating up of
the day interest rate for the default interest per the actual days

7.5 The lender has the rights to charge the
borrower with compound interest
if the borrower does not pay the interest on time. In the loan period, the lender will calculate compound
interest in appointed interest rate ; if the loan is due or
the borrower uses the loan but not according the description in the agreement, then the lender will calculate the compound interest
in the default interest
rate

7.6 If the loan interest rate needs to adjust,
the overdue interest rate and compound interest will adjust itself according to the term 7.3, 7.4 under this agreement.

7.7 If the borrower hides the important fact
or provide the false information ,situation on purpose,
the lender has the rights to charge the borrower the 10% liquidated damages of the max loan credit

 

7.8 The borrower should undertake the fee
which the lender fulfill its creditor's rights,including
but not limited to legal cost , arbitration fees, execution fees ,lawyer fee, travelling cost and other fee

 

7.9 If the borrower breaches this agreement
or the guarantor breach its obligation , the borrower should undertake above obligation. And the lender has the rights to define
that all the credit are due in advance and has the rights to do all the measures in the term 3.3

 

Effective, changing, transfer, terminate
and discharge of the contract

 

8.1 The agreement takes effect from here under
signing, and term on the date that all the credit from the lender has been repaid, and the term 1.2 has been met.

 

8.3 If the borrower break any term of this
agreement, the lender has the rights to recovery the principal
and interest
and get the compensation from the borrower , it also has the rights to terminate this agreement .

 

8.4 If there is any need for the lender to
terminate the agreement, the lender has the rights to terminate the contract from one-sided and no need to get the agreement of
borrower. If the decision make then the contract will lose effective

 

8.5 The lender could notice the decision of
release this agreement to the Borrower through any contact way defined in this agreement, but it is not the lender’s obligation.
If there is any situation for the notice cannot arrive on time or the notice does not arrive, then it do not affect the terminating
this agreement , and the lender does not need to undertake any legal liability

 

8.6 After the agreement takes effect, any
party can not take the
liberty to change or terminate the contract except the terms
which has been. If there is any need for changing and terminating of the contract, it should come into a written agreement after
negotiation. Before the written agreement, the terms of the contract are still effective

 

    	 

    	 

    

 

8.7 If the agreement is ineffective, terminate,
for the loan that happened before, both parties’ should also fulfill the corresponding obligation to each other

 

8.8 It is no need for the lender to get the
agreement of the borrower to transfer the rights of the agreement to the third party. The transfer notice can be in written or
in the public notice

8.9 The borrower can not transfer its obligation
under this agreement to a third party without the agreement of lender.

 

Settlement of Disputes

 

9.1 If there is any disputes of this agreement
, both parties can have the negotiation, if failed , then they can bring a suit in a people's court where is the local of contract
signing

 

9.2 During the period of negotiation and sue,
these terms which has no disputes should still keep effect and both parties should fulfill obligation. Any party can not take the
excuse of
there is a dispute and not to fulfill its obligation

 

Other items

 

10.1 if there is any invalid or any cancel
of the terms under this agreement, which will not have the effect on the other terms, then the other terms still keep effective

 

10.2 the lender sends the notice to the address
as below is deemed as the borrower get the notice in 3 days unless the borrower notice lender the changing of its address

 

Borrower contact phone : 20281866 fax 20282378

Contact address Building #26, No.1388 Zhangdong
Road

 

10.3 The headline of this contract is only
for reference, and not consist the part of this contract. Any terms of this contract can not have its meanings from the headline.

 

10.4 If any party requires the notarization,
then it needs both parties to ask for the notarization together and clear the effect of compulsory
execution. Borrower affords the notarial charge. If the borrower
does not undertake its obligation of this agreement, the lender has the rights to ask the people’s court to carry out.

 

10.5 If there is any changing of law ,rules
and policy ,which leads the contract can not completely fulfilled
, the lender does not need to take the responsibility

 

10.6 Any unaccomplished matter should do with
laws, provision of People's Bank
of China,
China Banking Regulatory Commission

 

    	 

    	 

    

 

11 This agreement is in 3 duplicate, each
one has the same legal validity

 

12 This agreement, the supplemental, the application,
the certificate and so on consist the completeness of this agreement . Above part which can be the paper, Electronic Methods or
the other method which lender approved to set out

 

13.
Statement and notice

The lender has reminded borrowers to pay fully
understanding to all the statements , especially the bold letters and also made the necessary explanation to the borrower. Both
parties have the fully understanding to the meaning and the legal consequence of the terms in this contract

Meanwhile the borrower claims that he has
made the special attention to the disadvantageous terms and accepts that.

 

Signature page

 

Lender (seal): Bank of Ningbo ,Shanghai
branch 

Person-in-charge/authorized representative:
          Shi Daoming           

 

Borrower (seal):_Shanghai Hailu Kunlun
Hi-tech engineering Co.,Ltd 

Legal representative/authorized representative:
Wu Qinghuan

 

Date:            2012-1-09Contract No.:_30121000029_______

 

Working Capital Loan 

Contract

 

Important Notice: This Contract is entered
into by the Parties in accordance with laws based on equality and free will, and the terms and conditions of this Contract fully
reflect the genuine intention of the Parties hereto. In order to protect legal rights and interests of the Borrower, the Lender
hereby draws the Borrower's special attention to the terms and conditions of this Contract in relation to each Party's rights and
obligations, in particular those in bold.

 

    	 

    	 

    

 

Lender:                              Industrial
and Commercial Bank of China Limited, ____Shanghai Zhangjiang Branch____________

 

	Person in Charge: Jiang Qiqing	Contact Person: Yu Yiren

 

	Address: No.639 Zhangjiang Road, Shanghai	Post Code:     201210

 

	Telephone: 50797515	Fax: 50797551	Email:	yuyiren-zj@sh.icbc.com.cn

 

Borrower:                              CER
Energy Recovery (Shanghai)., Ltd

 

	Legal Representative: Wu Qinghuan	Contact Person: Simon Dong

 

	Address:Building#26,No.1388 Zhangdong Road, Shanghai	Post Code: 201210

 

	Telephone:	20281866	Email:	simondong@cerenergy.com

 

Upon equal negotiations and mutual agreement,
the Lender and the Borrower enter into this Contract in relation to the provision of relevant loan by the Lender to the Borrower.

 

Part I        Loan
Conditions

 

		Article 1	Purpose of Loan

 

The loan hereunder shall be used for the
following purposes. Without written consent of the Lender, the Borrower may not use the loan for any purpose other than those listed
below. The Lender may supervise the use of the proceeds of the loan.

 

Purpose: 
_____ facilities purchase__________________

 

		Article 2	Amount and Term of Loan

 

		2.1	The currency and amount of the loan hereunder shall be ____________RMB__1380000__________________
(one million three hundred eighty thousands_____) (if there is any inconsistency between the amount in figures and the amount in
words, the amount in words shall prevail.)

 

		2.2	The term of the loan hereunder shall be determined in accordance with Item _(2)__ below:

 

		(1)	The term of the loan hereunder shall be ______/_______ commencing from the actual drawdown date
(or if there are more than one drawdown, the first drawdown date) as stated on the receipt of loan.

 

		(2)	The term of the loan hereunder shall be _____6 months__________ commencing from ____2012.1.11___________
to ____2012.7.10___________ (the actual drawdown date shall be the corresponding date as stated on the receipt of loan).

 

		Article 3	Interest Rate, Interest and Fees

 

		3.1	[Determination of Interest Rate for RMB Loans]

 

Interest rate for RMB loans shall
be determined in accordance with Item _(2)__ below:

 

		(1)	Fixed interest rate at __/__% per annum, which shall remain unchanged within the term of this Contract.

 

    	 

    	 

    

 

		(2)	Floating interest rate. The loan interest rate shall be the benchmark interest rate plus the floating
margin, where the benchmark interest rate shall be the benchmark lending interest rate as published by the People's Bank of China
on  /_ (drawdown date/effective date of this Contract) corresponding to the term of loan as stated in Article 2.2, and the
floating margin shall be floating up _5__% (floating up/floating down/zero). The floating margin shall remain unchanged
within the term of this Contract. After the drawdown, the loan interest rate will be adjusted every __6___ (1/3/6/12) month(s)
(Interest Period) and the loan interest for each Interest Period shall be calculated according to the loan interest rate
as adjusted and applicable to such Interest Period. The loan interest rate applicable to each Interest Period subsequent to the
initial period shall be determined on the same numerical date in the month of such adjustment as the drawdown date. If there is
no same numerical date in the month of adjustment as the drawdown date, the loan interest rate for such Interest Period shall be
determined on the last day of such month of adjustment. If the Borrower makes more than one drawdown, the loan interest rate shall
be determined in accordance with Item ___/__ below:

 

		A.	regardless of the number of drawdown made in an Interest Period, the loan interest rate for each
of such drawdown shall be the loan interest rate applicable to such Interest Period as determined on the interest rate determination
date of such Interest Period and will be adjusted simultaneously in each of the following Interest Periods; or

 

		B.	the loan interest rate for each drawdown shall be determined and adjusted separately.

 

		(3)	Others: _________________/_______________________________.

 

		3.2	[Determination of Interest Rate for Foreign Currency Loans]

 

Interest rate for foreign currency
loans shall be determined in accordance with Item __/__ below:

 

		(1)	Fixed interest rate at __/__% per annum, which shall remain unchanged within the term of this Contract.

 

		(2)	Floating interest rate. The loan interest rate shall be /____-month ________/______ (LIBOR/HIBOR)
(the benchmark interest rate) plus a margin equal to ___/__ base point(s) (a base point is equal to 0.01%). The margin shall remain
unchanged within the term of this Contract. If the Borrower makes more than one drawdown, the loan interest rate for each drawdown
shall be calculated separately. After the Borrower makes drawdown, the benchmark interest rate will be adjusted in accordance with
Item __/__ below, and the loan interest for each interest period shall be calculated according to the loan interest rate as adjusted
and applicable to such interest period:

 

		A.	the benchmark interest rate will be adjusted in each interest period as applicable to such benchmark
interest rate. The benchmark interest rate applicable to each interest period subsequent to the initial period shall be determined
on the same numerical date in the month of such adjustment as the drawdown date. If there is no same numerical date in the month
of adjustment as the drawdown date, the benchmark interest rate for such period shall be determined on the last day of such month
of adjustment; or

 

		B.	the benchmark interest rate for each interest period shall be adjusted on the first day of such
interest period.

 

		(3)	Others: _________________/_______________________________.

 

    	 

    	 

    

 

		3.3	The loan interest hereunder shall accrue from the actual drawdown date on a daily basis, and be
settled every ______month_________ (month/quarter/half year). Upon maturity of the loan, all outstanding interest shall be paid
together with the principal. The daily interest rate shall be applicable annual interest rate/360.

 

		3.4	Penalty interest will be imposed in addition to the loan interest rate hereunder at _30__% on any
overdue amount (overdue penalty interest rate), or at _50__% on any amount that is used for any purpose other than those set out
hereunder (misappropriation penalty interest rate).

 

		Article 4	Drawdown

 

The Borrower shall make drawdown according
to its actual need for fund. The first drawdown shall be made before ___2012.7.10_____________, and the last drawdown shall be
made before ___2012.7.10________________. If the Borrower fails to make drawdown as required above, the Lender may cancel all or
part of the loan. (This article is not applicable to revolving loan.)

 

		Article 5	Repayment

 

		5.1	The Borrower shall repay the loans hereunder in accordance with Item _(1)__ below:

 

		(1)	the Borrower shall fully repay the loan in one lump sum upon its maturity.

 

		(2)	the Borrower shall repay the loan in installments according to the following schedule (if there
is not enough space below, please state the repayment schedule on a separate page):

 

	Time of repayment	
        Amount of repayment (in

        RMB10,000)

	/	/
	 	 
	 	 

 

		5.2	If the loan hereunder falls in any of the following events, the Borrower shall immediately repay
the loan upon receipt of relevant fund, without any compensation to be paid by the Borrower for prepayment caused thereby:

 

____________________________/_____________________

 

____________________________/_____________________

 

		5.3	Except for the event under Article 5.2 above, the Borrower shall pay to the Lender a compensation
equal to __/__% of prepayment amount if the Borrower prepays any amount of the loan hereunder. 

 

		Article 6	Special Provisions in Relation to Revolving Loans
(optional clause: this article is □applicable/■not applicable)

 

		6.1	The loan hereunder is provided on a revolving basis. The amount and the term of the loan as set
out in Article 2 above is the limit of the revolving credit line and the term to use such revolving credit line, respectively.
The term to use the revolving credit line shall commence on the date when this Contract takes effect.

 

    	 

    	 

    

 

		6.2	If an RMB revolving loan adopts a floating interest rate, the benchmark interest rate shall be
the benchmark lending interest rate as published by the People's Bank of China corresponding to the term of such loan.

 

		6.3	In addition to the loan interest, the Borrower shall also pay to the Lender a commitment fee in
accordance with Item __/__ below:

 

		(1)	the commitment fee shall be equal to _/__% of the limit of revolving credit line and paid to the
Lender in one lump sum on the date when this Contract takes effect; or

 

		(2)	after the effectiveness of this Contract, the commitment fee shall be paid to the Lender in installments
on 20th day of each ____/___ (month/quarter/half a year) (Fee Period) until expiry of the term to use the revolving credit
line, and the amount of each installment shall be calculated based on the balance of the revolving credit line after deducting
the daily average amount of drawdown made by the Borrower within each Fee Period and based on an annual rate of _/_%; or

 

		(3)	_________________/______________.

 

		Article 7	Security

 

		7.1	If the loan hereunder is a secured loan, such loan is secured by _________pledge_________.

 

		7.2	If the security for the loan hereunder is a security with a maximum secured amount, the relevant
security contract (with the maximum secured amount) is as follows:

 

Name of the security contract
(with the maximum secured amount): _______pledge contract___ (No.:_______/____________)

 

Security Provider: __CER Energy
Recovery (Shanghai) Co., Ltd

 

		Article 8	Financial Covenants (optional clause: this article
is □applicable/■ not applicable)

 

Within the term of this Contract, the Borrower
shall comply with the following covenants in relation to financial indicators:

 

________________________/_________________________

 

_________________________/________________________

 

		Article 9	Dispute Resolution

 

All disputes under this Contract shall
be solved in accordance with Item (2) below:

 

		(1)	Such dispute shall be submitted to ______/___________Arbitration Commission for arbitration at
_______/_________(place of arbitration) in accordance with the arbitration rules of such commission in force upon submission of
arbitration application. The arbitration award shall be final and binding upon both parties; or

 

		(2)	Such dispute shall be submitted to the jurisdiction of the competent court of place where the Lender
is located.

 

		Article 10	Miscellaneous

 

		10.1	This Contract is made in __two___ copies, with each of the Borrower, the Lender and _______/_____
holding ___one____ copy(ies), each of which shall have equal legal effect.

 

    	 

    	 

    

 

		10.2	The following appendices and other appendices as confirmed by both parties shall constitute integral
part of this Contract and have equal legal effect as this Contract:

 

Appendix 1:Form of Drawdown
Notice

 

Appendix 2:Entrusted Payment
Agreement

 

Appendix 3:

 

		Article 11	Other Matters Agreed by the Parties

 

		11.1	If Party B’s profit level, and assets liabilities rate, and flow ratio, and should received
account paragraph turnover, and business activities cash flow, index deterioration, or the equity structure, and production business
and external investment occurs major changes, which has the effect on Party A’s loan ,then Party has the right to announce
loan ahead of due and refuse new of drawing requirements, and require Party B ahead of part or all loan reimbursement which has
issued, or require Party B append a legitimate, and good value, and effective of guarantees recognized by Party A

 

		11.2	If Party B violate any loan agreement signed with money corporation ,which lead to effect the creditor's
rights of Party A and violate this agreement, then Party A has the rights to announce the mortgage debt has maturity ahead of time

 

		11.3	In the similar agreement ,Party B can not have the financial terms with other banks which are better
than the credit terms of Party A

 

		11.4	Party B promise that the loan lend from Party A will not go into the securities , futures market
and share capital Marketable investment ,these areas which are inhibit by national laws

 

    	 

    	 

    

 

		11.5	Part II          Terms of
Working Capital Loan Contract

 

		Article 1	Interest Rate and Interest

 

		1.1	The LIBOR applicable to a foreign currency loan hereunder shall be the inter-bank offered rate
applicable to the currency of such loan as shown on the "LIBO=" page of the Reuters' financial messaging terminal at
11:00 am (London time) on the day that is two bank business days prior to the drawdown date or the benchmark interest rate adjustment
date; the HIBOR shall be the inter-bank offered rate applicable to Hong Kong Dollar as shown on the "HIBO=" page of the
Reuters' financial messaging terminal at 11:15 am (Hong Kong time) on the day that is two bank business days prior to the drawdown
date or the benchmark interest rate adjustment date.

 

		1.2	If the loan hereunder adopts a floating interest rate, the interest rate will continue to be adjusted
in accordance with the original adjustment rules after such loan is overdue.

 

		1.3	If interest is settled on a monthly basis, the settlement date shall be 20th day of
each month; if interest is settled on a quarterly basis, the settlement date shall be 20th day of the last month of
each quarter; and if interest is settled on a half-year basis, the settlement date shall be June 20 and December 20 of each year.

 

		1.4	The first interest period shall commence from the actual drawdown date to the first interest settlement
date; the last interest period shall commence from the day immediately following the end of the preceding interest period to the
final repayment date; and each of the other interest period shall commence from the day immediately following the end of the preceding
interest period to the next interest settlement date.

 

		1.5	If the People's Bank of China adjusts the method to determine the loan interest rates, relevant
provisions of the People's Bank of China in relation to such adjustment shall apply to this Contract without requiring any further
notice from the Lender to the Borrower.

 

		Article 2	Advance and Payment of Loan

 

		2.1	The Lender has no obligation to advance any loan to the Borrower until all following conditions
have been satisfied by the Borrower or waived by the Lender:

 

		(1)	except for unsecured loans, the Borrower has provided security as required by the Lender and completed
relevant formalities for provision of such security;

 

		(2)	there is no default event occurring under this Contract or any other contract between the Borrower
and the Lender; and

 

		(3)	the purpose of loan as stated in the supporting documents provided by the Borrower is consistent
with the purpose as agreed hereunder.

 

		2.2	All written documents provided by the Borrower to the Lender for drawdown shall be originals. If
no original is available, the Borrower may, upon consent of the Lender, provide photocopies affixed with the Borrower's company
seal.

 

		2.3	When applying for drawdown, the Borrower shall submit a drawdown notice to the Lender at least
5 bank business days prior to the proposed drawdown date. Once submitted, a drawdown notice will be irrevocable unless otherwise
agreed by the Lender in writing.

 

		2.4	After all conditions precedent to drawdown have been satisfied by the Borrower or waived by the
Lender, the Lender will remit the loan into a designated account of the Borrower. Such remittance shall be deemed as advance of
the loan by the Lender to the Borrower in accordance with this Contract.

 

    	 

    	 

    

 

		2.5	In accordance with relevant regulatory requirement and management requirement of the Lender, a
loan exceeding certain value or meeting certain other conditions shall be subject to the entrusted payment arrangement, where the
Lender will, upon and in accordance with drawdown request and payment entrustment issued by the Borrower, pay the proceeds of the
loan to relevant payees for the purpose as agreed under this Contract. For this purpose, the Borrower shall enter into an entrusted
payment agreement with the Lender, which shall be attached hereto as an appendix, and shall open or designate a dedicated account
with the Lender for such entrusted payment.

 

		Article 3	Repayment

 

		3.1	The Borrower shall repay the principal of and pay the interest on the loan hereunder and other
amount payable in accordance with the amount and schedule as required under this Contract. The Borrower shall, on the day that
is one bank business day prior to the repayment date and each interest settlement date, deposit into a repayment account opened
by the Borrower with the Lender sufficient fund to repay the principal, interest and other amount to be paid on such repayment
date or interest settlement date. The Lender may transfer an amount equal to such principal, interest and other amount payable
out of such account on such repayment date or interest settlement date without further instruction from the Borrower, or require
the Borrower to cooperate in completing relevant formalities for such transfer. If the balance of the repayment account is not
sufficient to pay all amount to be paid by the Borrower, the Lender may decide the priority sequence of each item to be settled.

 

		3.2	If the Borrower applies for prepayment of all or part of the loan, it shall submit a written application
to the Lender for its approval 10 bank business days prior to such prepayment, and pay to the Lender relevant compensation as agreed
hereunder.

 

		3.3	If the Lender approves any prepayment, the Borrower shall fully pay on the prepayment date all
principal, interest and other amounts due and payable as of such prepayment date hereunder.

 

		3.4	The Lender may require the Borrower to early repay any loan based on the Borrower's collection
of receivables. 

 

		3.5	The applicable interest rate grade (based on term of loan) will not change if the actual term
of loan is shortened due to any prepayment by the Borrower or early repayment as required by the Lender in accordance with this
Contract.

 

		Article 4	Revolving loan

 

		4.1	If the loan hereunder is provided on a revolving basis, the aggregate amount of outstanding loans
taken by the Borrower at any time within the term to use the revolving credit line may not exceed the amount of the revolving credit
line. The term of each drawdown made by the Borrower shall commence from the actual drawdown date to the agreed repayment date,
each as stated on relevant receipt of loan. No drawdown may have a repayment date that is beyond the term to use the revolving
credit line.

 

		4.2	If the loan hereunder is provided on a revolving basis, and the Borrower fails to make any drawdown
within three consecutive months from the date of this Contract, the Lender may cancel the revolving credit line.

 

		Article 5	Security

 

		5.1	Except for unsecured loans, the Borrower shall provide legal and effective security acceptable
to the Lender for the performance of its obligations hereunder. A security contract will be entered into separately.

 

    	 

    	 

    

 

		5.2	The Borrower shall promptly notify the Lender of any damage, depreciation, title dispute, seizure
or attachment of the collateral hereunder, or unauthorized disposal of the collateral by the mortgagor, or any adverse change to
the guarantor's financial condition, or any other adverse change to the claims of the Lender, and provide other security that is
acceptable to the Lender.

 

		5.3	Where the loan hereunder is secured by a pledge over accounts receivable, the Lender may declare
accelerated maturity of the loan and require the Borrower to immediately repay all or part of the principal and pay the interest
of the loan, or provide additional legal, effective and sufficient security acceptable to the Lender, if any of the following events
occurs within the term of this Contract:

 

		(1)	the bad debt ratio in relation to accounts receivable by the pledgor from the payer of such accounts
receivable increases for two consecutive months;

 

		(2)	the accounts receivable that are due but not recovered by the pledgor from the payer of such accounts
receivable represent at least 5% of the total outstanding accounts receivable to be paid by such payer to the pledgor; or

 

		(3)	any trade dispute (including without limitation dispute over quality, technology or service) or
debt dispute arises between the pledgor of the accounts receivable and relevant payer or other third party, which may prevent the
accounts receivable from being settled when they become due.

 

		Article 6	Account management

 

		6.1	The Borrower shall designate a special collection account with the Lender, which will be used to
collect relevant sales revenue or fund to be used to repay the loan. If any sales revenue is settled by non-cash method, the Borrower
shall ensure that the proceeds of such revenue will be promptly transferred into the special collection account when it receives
the same.

 

		6.2	The Lender may supervise on the special collection account, including without limitation monitoring
and supervising income and expenditure of such account, and the Borrower shall cooperate with the Lender in such supervision. If
requested by the Lender, the Borrower shall enter into an account supervision agreement with the Lender.

 

		Article 7	Representations and Warranties

 

The Borrower makes the following representations
and warranties to the Lender, and these representations and warranties will remain valid and effective within the term of this
Contract:

 

		7.1	It is eligible to act as a borrower hereunder, and has all qualifications and capacity to enter
into and perform this Contract.

 

		7.2	It has obtained all necessary authorizations or approvals to enter into this Contract. Its execution
and performance of this Contract does not violate its articles of association or any applicable laws or regulations, or conflict
with any of its obligations under other contracts.

 

		7.3	Its other debts have been repaid when they become due and it has not committed any malicious default
in repaying any principal or interest of bank loan.

 

		7.4	It has a well-established organizational structure and financial management system. It has not
committed any material violation of regulations or disciplines during its production and operation in the past one year. Its current
senior management has no material negative record.

 

		7.5	All documents and information provided by the Borrower to the Lender are true, accurate, complete
and effective and do not contain any false record, gross omission or misleading statement.

 

    	 

    	 

    

 

		7.6	The financial and accounting reports provided by the Borrower to the Lender are prepared in accordance
with the general accepted accounting principle of the PRC and give true, fair and complete presentation of the operation and indebtedness
status of the Borrower. The financial condition of the Borrower has no material adverse change since the end date of its latest
financial and accounting reports.

 

		7.7	It has not concealed from the Lender any litigation, arbitration or claim involving the Borrower.

 

		Article 8	Undertakings of the Borrower

 

		8.1	The Borrower undertakes to draw down and use the loan in accordance with the schedule and purpose
as agreed hereunder. The Borrower shall not use the proceeds of the loan hereunder for investment in fixed assets or equity, or
for investment in securities or futures market, or any other purpose prohibited or restricted by applicable laws and regulations.

 

		8.2	The Borrower undertakes to settle principal, interest and any other amount payable in relation
to the loan hereunder in accordance with this Contract.

 

		8.3	The Borrower undertakes to accept and actively cooperate with the Lender's check and supervision
on use of the proceeds of the loan (including purpose of the loan) including account analysis, voucher verification and on-site
investigation, and to regularly summarize and report information on the use of proceeds of the loan as requested by the Lender.

 

		8.4	The Borrower undertakes to accept credit check by the Lender, to provide financial documents including
balance sheets and income statements and other documents that reflect the Borrower's ability to repay its debts, as requested by
the Lenders, and to actively assist and cooperate with the Lender in investigating, understanding and supervising its production,
operation and financial conditions.

 

		8.5	The Borrower undertakes not to distribute any dividend or profit in any form before full settlement
of principal, interest and other amount payable in relation to the loan hereunder.

 

		8.6	The Borrower undertakes to obtain prior written consent of the Lender or make appropriate arrangements
in relation to the realization of the Lender's claims to the Lender's satisfaction, before it carries out any merger, division,
decrease of capital, equity change, transfer of material assets and creditor's rights, material external investment, material increase
of debt financing and other action that may cause an adverse impact on the Lender's rights and interests.

 

		8.7	The Borrower undertakes to promptly notify the Lender upon occurrence of any of the following events:

 

		(1)	any change to its articles of association, business scope, registered capital or legal representative;

 

		(2)	its winding-up, dissolution, liquidation, suspension of business, revocation or cancellation of
its business licence, or application (or be applied for) for bankruptcy;

 

		(3)	it is or may be involved in any material economic dispute, litigation or arbitration, or its property
is subject to seizure, attachment or supervision in accordance with applicable laws; or

 

		(4)	any of its shareholders, directors or current senior management personnel is suspected of major
crime or involved in any material economic dispute.

 

    	 

    	 

    

 

		8.8	The Borrower undertakes to disclose its related party relationship and related transaction to the
Lender in a prompt, complete and accurate manner.

 

		8.9	The Borrower undertakes to promptly confirm receipt of all notices sent by the Lender by post or
any other means.

 

		8.10	The Borrower undertakes not to dispose of its own assets in a way that will reduce its ability
to repay its debts. The Borrower undertakes not to provide security to the benefit of any third party in a way that will harm the
Lender's rights and interests.

 

		8.11	If the loan hereunder is an unsecured loan, the Borrower undertakes to regularly make complete,
true and accurate disclosure to the Lender in relation to all securities provided by the Borrower for others, and enter into an
account supervision agreement as requested by the Lender. If any provision of security may affect its ability to perform its obligations
hereunder, the Borrower shall obtain written consent of the Lender on such provision of security.

 

		8.12	The Borrower undertakes to bear expenses for entering into and performing this Contract, and
expenses paid and payable by the Lender for realization of its claim hereunder, including without limitation litigation or arbitration
fee, attachment fee, attorney's fee, enforcement fee, appraisal fee, auction fee and announcement fee.

 

		8.13	The debt hereunder is senior to the debts owed by the Borrower to its shareholders, and is not
subordinated to similar debts owed by the Borrower to other creditors.

 

		Article 9	Undertakings of the Lender

 

		9.1	The Lender undertakes to advance the loan to the Borrower in accordance with this Contract.

 

		9.2	The Lender undertakes to keep non-public materials and information provided by the Borrower confidential,
unless otherwise required by applicable laws and regulations or agreed hereunder.

 

		Article 10	Default

 

		10.1	The Borrower will be in default upon occurrence of any of the following events:

 

		(1)	The Borrower fails to repay any principal, interest or other amount payable in relation to the
loan hereunder in accordance with this Contract, or fails to perform any other obligations hereunder, or breaches any of its representations,
warranties or undertakings hereunder;

 

		(2)	the Borrower fails to provide other security acceptable to the Lender when the security provided
hereunder suffers any change that is adverse to the claim of the Lender;

 

		(3)	the Borrower fails to settle any other debt when it becomes due (including due to accelerated maturity
declared by the creditor), or is in default or breach of any of its obligations under other agreements, which has affected or may
affect performance of its obligations hereunder;

 

		(4)	the Borrower's ability to make profit, repay debts or operate its business, or its financial indictors
such as cash flow do not comply with agreed standard or suffer deterioration, which has affected or may affect performance of its
obligations hereunder;

 

		(5)	the Borrower's equity structure, production, operation or external investment suffers any material
adverse change, which has affected or may affect performance of its obligations hereunder;

 

    	 

    	 

    

 

		(6)	the Borrower is or may be involved in any material economic dispute, litigation or arbitration,
or its property is subject to attachment, seizure or enforcement, or the Borrower is investigated or punished by any competent
judicial or administrative authority in accordance with laws, or any media report that the Borrower has violated relevant regulations
or policies of the State, which has affected or may affect performance of its obligations hereunder;

 

		(7)	there is any abnormal change or missing of major individual investor or key management personnel
of the Borrower, or any competent judicial authority has launched investigation on or restricted right of freedom of such investor
or personnel in accordance with laws, which has affected or may affect performance of the Borrower's obligations hereunder;

 

		(8)	the Borrower obtains fund or credit facility from the Lender by using false contracts between the
Borrower and its related party or transactions that do not actually exist, or intentionally uses related transactions to evade
from or invalidate the Lender's claim;

 

		(9)	the Borrower is or may be under winding-up, dissolution, liquidation, suspension of business, or
its business licence has been or may be revoked or cancelled, or it has applied or been applied, or may apply or be applied, for
bankruptcy;

 

		(10)	there is any liability accident caused by the Borrower's violation of applicable laws and regulations,
regulatory rules or industry standard in relation to food safety, production safety or environmental protection, which has affected
or may affect performance of its obligations hereunder;

 

		(11)	where the loan hereunder is an unsecured loan, the Borrower's credit rating, profitability, asset
liability ratio, net cash flow in operation activities, etc. do not comply with the Lender's requirement on grant of unsecured
loans, or the Borrower creates mortgage or pledge over its effective operation assets or provides guarantee to the benefit of others
without written consent of the Lender, which has affected or may affect performance of the Borrower's obligations hereunder; or

 

		(12)	other events that may cause adverse impact on realization of the Lender's claim hereunder.

 

		10.2	If the Borrower is in default, the Lender may take any one or more of the following steps:

 

		(1)	the Lender may require the Borrower to remedy its default within a designated period;

 

		(2)	the Lender may cease to advance the loans and other amounts to the Borrower under this Contract
or any other contract between the Lender and the Borrower, and cancel all or part of the loan or other amount for which the Borrower
has not made drawdown;

 

		(3)	the Lender may declare immediate maturity of all outstanding loans and other amounts under this
Contract or any other contract between the Lender and the Borrower, and require immediate repayment of such loans and amounts;

 

		(4)	the Lender may require the Borrower to compensate the Lender against all losses caused by such
default of the Borrower; and

 

		(5)	other steps that are set out under applicable laws and regulations, agreed under this Contract
or deemed necessary by the Lender.

 

    	 

    	 

    

 

		10.3	If the Borrower fails to repay any loan when it becomes due (including due to accelerated maturity
as declared by the Lender), the Lender may impose penalty interest on the Borrower at the overdue penalty interest rate as agreed
hereunder from the day immediately following the due date. Compound interest will accrue at the overdue penalty interest rate on
any interest that the Borrower fails to pay when it becomes due.

 

		10.4	If the Borrower fails to use the loan for the purpose as agreed hereunder, the Lender may impose
penalty interest on the misappropriated part of the loan at the misappropriation penalty interest rate as agreed hereunder from
the date of misappropriation. When the loan is being misappropriated, compound interest will accrue at the misappropriation penalty
interest rate on any interest that the Borrower fails to pay when it becomes due.

 

		10.5	If both of the penalty interest rates under Articles 10.3 and 10.4 are applicable to the Borrower,
the higher of the two interest rates will apply. The two types of penalty interest may not be applied at the same time.

 

		10.6	The Lender may make a public announcement in media to demand repayment if the Borrower fails
to repay any principal, interest (including penalty interest and compound interest) or any other amount payable as scheduled. 

 

		10.7	If the control relationship between the Borrower and its related party has changed, or any related
party of the Borrower is in any event under Articles 10.1 (excluding Articles 10.1(1) and (2)), which has affected or may affect
performance of the Borrower's obligations hereunder, the Lender may take all steps as set out under this Contract.

 

		Article 11	Deduction and Setoff

 

		11.1	If the Borrower fails to repay any debt due hereunder (including due to accelerated maturity
declared by the Lender) in accordance with this Contract, the Lender may deduct relevant amount from all RMB and foreign exchange
accounts opened by the Borrower with the Lender or any other branch office of Industrial and Commercial Bank of China to set off
such debt, until all debts of the Borrower hereunder are fully settled.

 

		11.2	If the currency of deducted amount is different from that of the loan hereunder, the amount
will be converted in accordance with applicable exchange rate published by the Lender on the date of such deduction. The Borrower
shall bear all interest and other expenses incurred between the deduction date and the actual settlement date (i.e. the date when
the debts hereunder are actually settled after the Lender converts the deducted amount into the currency of the loan hereunder
in accordance with applicable State policies on administration of foreign exchange), as well as the difference caused by fluctuation
of exchange rate during such period.

 

		11.3	If the amount deducted by the Lender is insufficient to repay all debts owed by the Borrower,
the Lender may decide the priority sequence of each item to be settled. 

 

		Article 12	Transfer of Rights and Obligations

 

		12.1	The Lender may transfer all or part of its rights hereunder to a third party, without consent of
the Borrower. The Borrower may not transfer any of its rights or obligations hereunder without written consent of the Lender.

 

    	 

    	 

    

 

		12.2	The Borrower acknowledges that the Lender or Industrial and Commercial Bank of China Limited (ICBC)
may, based on operation and management requirements, authorize or appoint another branch office of ICBC to perform the rights and
obligations hereunder, or transfer the loan hereunder to another branch office of ICBC. Such transfer by the Lender does not require
further consent of the Borrower. The branch office of ICBC that is the transferee of the rights and obligations of the Lender hereunder
may exercise all rights hereunder, and may in its own name initiate litigation or arbitration or apply for enforcement in relation
to the dispute hereunder.

 

		Article 13	Effectiveness, Amendment and Termination

 

		13.1	This Contract shall take effect as of the date hereof, and end upon the date when all of the Borrower's
obligations hereunder are fully performed.

 

		13.2	Any amendment to this Contract shall be agreed by the Parties and made in writing. Amended clauses
or amendment agreement shall constitute an integral part of this Contract and have equal legal effect as this Contract. The rest
terms of this Contract which are not amended shall remain effective. The original terms of this Contract which are to be amended
shall remain effective until the relevant amendments take effect.

 

		13.3	Amendments to or termination of this Contract shall not prejudice each Party's right to claim compensation
for loss. The dispute resolution clause hereof shall survive termination of this Contract.

 

		Article 14	Governing Law and Dispute Resolution

 

The execution, validity, interpretation,
performance and dispute resolution of this Contract shall be governed by the PRC law. All disputes and controversies arising from
or in connection with this Contract shall be solved by the Parties through consultations, failing which, be solved by the means
agreed hereunder.

 

		Article 15	Entire Agreement

 

Part I (Loan Conditions) and Part II (Terms
of Working Capital Loan Contract) of this Contract shall constitute a complete loan contract, and the same term shall have the
same meaning in both parts. Both parts above are applicable to the loan granted to the Borrower hereunder.

 

		Article 16	Notices

 

		16.1	All notices hereunder shall be sent in writing. Unless otherwise agreed, the address of each Party
as stated in this Contract will be its address for communication and contact. If the contact address or other contact information
of a Party changes, such Party shall promptly notify the other Party of such change in writing.

 

		16.2	If either Party hereto refuses to confirm receipt of a notice or a notice is otherwise unable to
be delivered, the Party sending such notice may serve such notice by means of notarization or public announcement.

 

		Article 17	Miscellaneous

 

		17.1	Failure to exercise, partial exercise or delay in exercise by the Lender of any of its rights hereunder
will not constitute waiver of or amendment to such right or any other right, nor will it affect the Lender's further exercise of
such right or any other right.

 

		17.2	Invalidity or unenforceability of any provision hereof will not affect validity or enforceability
of any other provision hereof or validity of the whole Contract.

 

    	 

    	 

    

 

		17.3	If so required by applicable laws, regulations, or other financial regulators, the Lender may provide
the information related to this Contract and other information related to the Borrower to the credit information database of the
People's Bank of China or other credit database created in accordance with laws for duly qualified institutions or individuals
to check or use. The Lender may also enquire information related to the Borrower by using the credit information basic database
of the People's Bank of China or other credit database created in accordance with laws for purpose of execution and performance
of this Contract.

 

		17.4	The terms used in this Contract including "related party", "related party relationship",
"related transaction", "major individual investor" and "key management personnel" shall have the
meaning given to them in the Accounting Standard for Business Enterprises No. 36—Disclosure of Related Parties (Cai Kuai
[2006] No. 3) issued by the Ministry of Finance of the People's Republic of China and its amendments.

 

		17.5	The documents and vouchers prepared and retained by the Lender in relation to the loan hereunder
in accordance with its business practice shall constitute valid proof of debt relationship between the Borrower and the Lender,
and shall be binding upon the Borrower.

 

		17.6	In this Contract, (1) any reference to this Contract shall include all amendments and supplements
to this Contract; (2) the headings are for reference only, and do not constitute any interpretation of this Contract, or restriction
on contents or scope of provisions under such headings; and (3) if a drawdown date or repayment date is not a bank business day,
it shall be postponed to the immediate following bank business day.

 

    	 

    	 

    

 

The Parties hereby confirm by signing or
affixing of seal that all terms of this Contract have been fully negotiated by the Borrower and the Lender. The Lender has brought
the Borrower's special attention to all terms in relation to the rights and obligations of each Party, asked the Borrower to fully
and accurately understand all such terms, and upon the Borrower's request, made explanation on relevant terms. The Borrower has
carefully read and fully understands all contractual terms hereof (including Part I (Loan Conditions) and Part II ((Terms of Working
Capital Loan Contract)). The understanding of the Borrower and the Lender of this Contract is consistent, and the Parties have
no dispute over the terms of this Contact.

 

Lender (seal):Industrial and Commercial
Bank of China Limited, Shanghai Zhangjiang Branch

 

Person-in-charge/authorized representative:
________Jiang Qiqing__

 

Borrower (seal):______CER Energy Recovery(Shanghai)
Co.,Ltd______________________

 

Legal representative/authorized representative:
Wu Qinghuan

 

Date: ____2012-1-11_______

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}]]