Document:

Exhibit 10.7

 

	Fixed
    Asset Loans Contract
    【Contract No:
    22010270-2013(ChangJiang) Zi 0009】
	No	Important Provisions	Main Contents of Provisions
	1	 	
        Lender:
Industrial and Commercial Bank of China Corp. ChangJiang Branch

        中         国         工 商
        银 行 股 份 有 限 公 司 昌 江 支 行

        Borrower:
REIT Mingsheng Environment Protection Construction Materials (ChangJiang) Co.,Ltd

        瑞         图         明
        盛 环 保 建 材 (昌江)有 限 公司

	Part I	General Provision
	2	1	
        Article 1 Purpose of Loans

        The loans under this contract can only be used for
        the construction of Tailings Sands Concrete Blocks with an annual capacity of 1.06 million square metres. Any misappropriation
        of the loan proceeds hereunder is not allowed, unless there is a written approval from the lender. The lender reserves the full
        rights to supervise the details of loan proceeds’ usage.

 

    	 	1	 

     

    

 

	3	2	
        Article 2 The Amount and Period of Loans

        2.1 The currency of loans under this contract is
        (in words) RMB Ninety-six Million Only (in figures: RMB 96,000,000.00 Yuan). Where there is any inconsistency between the amount
        in words and in figures, the former shall prevail.

        2.2 The period of loans under this contract shall
        be six years, the starting date shall be the actual drawdown date subject to IOUs (or the first drawdown date in case of drawdown
        in installments).

	4	3	
        Article 3 Rate, Interest and Fees

        3.1 With respect to the RMB interest rate of loan,
        the Borrower selects the second way as listed in Article 3.1 hereof.

        3.1(2)The
        floating rate, the interest rate of loan shall be determined according to benchmark interest rate and the extent of floating.The
        interest rate thereof shall be increased by 29% from the corresponding statutory loan interest rate that the People's Bank of China
        promulgates on the actual drawdown date and the lending date provided in Article.2.2. When such loan is granted, the interest rate
        of the loan shall be calculated on multi-stage basis. Each six month shall be a repayment cycle, and the interest rate of the loan
        shall be adjusted each cycle. The date to decide the interest rate in second cycle shall be correspondent to the date when the
        first cycle is expired from the drawdown date (or the last day of that month in case there is no such correspondent date existing,
        similarly hereinafter). With respect to the drawdown in installment, the Borrower selects the A way as listed in Article 3.1(2)
        hereof to adjust the interest rate of loan:

        3.1(2)A
        The interest rate of the loan shall be executed in accordance with what is decided in that cycle, regardless of the installments
        in that cycle, and shall be adjusted in next cycle. 

        3.2 In case the Borrower fails to repay the commitment
        fee installments before the due date, the Lender shall be entitled to stop lending, or withdraw the loans in part or whole which
        are not in the possession of the Borrower.

 

 

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	5	4	
        Article 4 Drawdown

        4.1 In accordance with actual demand for loans, the
        Borrower shall select the second way as listed in Article 4.1 hereof for drawdown.

        4.1(2)The
        Borrower shall draw out the loans in a lump sum or in installment from the day this contract enters into effect to September 6,
        2019.

	6	5	Article 5 Repayment 5.1 The Borrower shall repay the loans in accordance with the repayment schedule hereof: 

	 	 	Repayment Schedule	Amount of Repayment Schedule(Ten Thousand Yuan)
	 	 	March, 2015	960
	 	 	September, 2015	960
	 	 	March, 2016	960
	 	 	September, 2016	960
	 	 	September, 2017	960
	 	 	September, 2017	960
	 	 	March, 2018	960
	 	 	September, 2018	960
	 	 	March, 2019	960
	 	 	September, 2019	960

	7	7	
        Article 7 Warranty

        7.1 The loans under this contract shall be guaranteed
        loans.

        7.2 In case of guaranteed loans under this contract,
        the warranty issues are specified separately in Guarantee Contract.

	8	9	
        Article 9 Dispute Resolution

        With respect to the dispute resolution under this
        contract, the parties select the second way as listed in Article 9:

        (2)Any
        party may file a lawsuit to the People’s Court of domicile of the Lender.

 

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	9	11	
        Article 11 Miscellaneous

        (1)   
In case the investment of the project exceed the budget estimate, the
shareholders shall self-raise the fund and provide the completion guarantee;

        (2)   
        The loan based on equal six month payment shall be implemented after the
        due date of loan extension.

        (3)   
        No bonus shall be distributed before the principal and the interest of
        the Lender are discharged.

        (4)   
        The assets, rights and benefits produced by this project shall not be used
        to increase external financing, provide warranties and invest abroad before the loans of the Lender are discharged, unless it is
        subject to written consent from the Lender.

        (5)   
        The Borrower shall open a special revenue account for this project at ICBC
        (ChangJiang Branch) after the project is completed and go into operation, and shall sign the account monitoring agreement with
        the Lender stipulating that the all revenue of the project shall be collected to this special account, the Lender shall be authorized
        to conduct monitoring on the capital of this account, and the capital shall give top priority to repay the principal and interest
        of the Lender.

        (6)   
        The shareholders of the Borrower shall not transfer the stock equity to
        any third-party, unless it is subject to written consent from the Lender.

        (7)   
        The loan based on equal six month payment shall be implemented after the
        due date of loan extension. Upon violation of the above-mentioned terms by the Borrower, the Lender shall be entitled to declare
        the expiration of the loans in advance, refuse to grant new loans to the Borrower, and require the Borrower to repay the loans
        already granted or deal with the mortgage in advance.

        (8)   
        The Borrower selects ICBC (ChangJiang Branch) as the only bank to withdraw
        the funds of this project, revenue from sales and related revenue shall be returned to the account designated by the Lender, Account Name: REIT Environmental Building Material(ChangJiang) Co.,Ltd, Bank Account: Industrial and Commercial
        Bank of China Corp. ChangJiang Branch), otherwise the Lender shall be entitled to suspend subsequent drawdown requirement from
        the Borrower, or to declare expiration of the loans in advance, and require the Borrower to pay the penalties to the Lender at
        the proportion of no less than five of ten thousand of the amount of the loans under this contract.

 

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	Part
    II	Specific Provision
	10	2	
        Article 2 Granting and Payment of the Loan

        2.2 Preconditions for first drawdown:

        (1)
The project for the loans shall be examined, approved and put on record by the related authorities, unless no such requirements
before the granting of loans exist pursuant to related rules).

        (2)
The capital of the project or other capital needed has been raised in accordance with the period and proportion stipulated in
this contract.

        (3)
The Borrower has provided correspondent warranties and completed related warranty procedures in accordance with requirements of
the Lender, except for credit loans.

        (4)
Submit the drawdown notice to the Lender in accordance with this contract.

        (5)
Submit other materials required by the Lender.

        2.3 The Borrower shall further satisfy the following
        preconditions apart from those for first drawdown before each drawdown:

        (1)
Should the capital be in place in installment, capital for current period has been in place in full amount and in proportion.

        (2)
The cost is within budget, or the excessive expenditure has been self-raised.

        (3)
The project has been completed in accordance with the schedule, and the actual completion is correspondent with the amount of
capital invested.

        (4)
No violation of this contract or of other contracts the Lender has signed exist.

        (5)
The materials provided to prove the purpose of the loans shall be correspondent with the agreed purpose.

 

 

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	11	3	
        Article 3 Repayment

        3.3 Should the Lender agrees repayment of the loan
        ahead of schedule, the Borrower shall repay the due principal, interest and other expenses pursuant to this contract at date of
        repayment.

        3.4 The interest rate of loan shall not be adjusted
        as a result of advanced repayment by the Borrower or advanced collections pursuant to this contract by the Lender.

	12	6	
        Article 6 Insurance

        6.2 No condition shall allow the Borrower to suspend
        the insurance when this contract is valid. Should the insurance be suspended, the Lender is entitled to renew the insurance or
        insure for the Borrower, whereas the Borrower shall undertake the fees. In case the Borrower and related persons materially alter
        or terminate in advance the insurance documents, the Borrower shall owe the liabilities to the Lender due to such suspend, termination,
        or the alteration, unless they notify and seek approval from the Lender at least thirty days before the maturity day.

        6.4 Insurance compensation or indemnities shall be
        used to repay the loans under this contract in advance, or to recover the value of the project, or to deposit to the account designated
        by the Lender serving as security deposit for the security of the well performance of the obligations under this contract by the
        Borrower.

	13	8	
        Article 8 Commitment of the Borrower

        8.1 The Borrower shall draw out and use loans in
        accordance with the period and purpose specified in this contract, and the loans shall not come into securities market, futures
        market in any form, and shall not be prohibited or restricted by some relative laws and regulations.

        8.3 The Borrower shall accept and cooperate with
        the Lender for the examination and supervision of the usage of the loans (including its purpose), by way of account analysis, receipt
        examination, on-the-spot investigation, etc, and shall summarize and report the usage of the loans on a regular basis in accordance
        with the Lender’s requirements.

        8.5 No dividends or bonus shall be distributed in
        any form before the principal, interest and other due expenses are discharged under this contract.

        8.6 Consolidation, split, decrease of capital, stock
        equity alteration, major capital and credit transfer, major overseas investment, materially increase of debt financing and other
        activities which may negatively influence the Lender’s rights shall be subject to written consent from the Lender or satisfactory
        arrangements made by the Borrower for the realization of the Lender’s rights.

        8.13 The Borrower shall undertake the fees arising
        from the realization of Lender’s right under this contract, including but not limited to legal fees, evaluation fees, auction
        fees, etc.

 

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	14	11	
        Article 11 deduction

        11.1 In case the Borrower fails to repay the debts
        before the due date (including those shall be declared immediately expire) under this contract, the lender shall be entitled to
        collect default expenses arising from the realization of Lender’s rights from the Borrower’s account opened at ICBC
        (ChangJiang) or any account (home currency or foreign currency) opened by the Borrower at any branch of ICBC, until all debts under
        this contract are discharged by the Borrower.

        11.2 In case of any inconsistency between the loan
        currency in expenses collected and this contract, the exchange rate should be converted on the basis of the rate applied in collecting
        days. The Borrower shall undertake the interest, other fees and the balance produced due to the fluctuation of exchange rate between
        date of collection and date of payment (referring to the day the Lender exchanges the expenses collected into the loan currency
        of this contract in accordance with national foreign exchange control policy, and realizes its rights under this contract).

        11.3 Should the expenses collected be insufficient
        to cover all the loans, the lender is entitled to decide the order of discharging.

	15	14	
        Article 14 Governing Law and Dispute Resolution

        This Contract shall be governed by the laws and regulations
        of the People’s Republic of China. All disputes arising from the execution of, or in connection with this Contract shall
        be settled through friendly negotiation. In case no settlement to disputes can be reached through negotiation, any party may file
        a lawsuit to the People’s Court of domicile of the Lender.

 

Mortgagor: REIT Environmental
Building Material (ChangJiang) Co., Ltd.

 

/s/ Hengfang Li

 

Mortgagee: Industrial and Commercial
Bank of China Corp. ChangJiang Branch

 

/s/ Hongwen Wu

 

7Exhibit 10.8

 

	Mortgage Contract (Changjiang Di Zi No.006 2013)
	No.	Important Provisions	Main Contents of Provisions
	1	 	
        Mortgagee (Party A): Industrial
        and         Commercial Bank of China Corp. ChangJiang Branch

        (中国工商银行股份有限公司昌江支行)

        Mortgagor (Party B): REIT
        Mingsheng Environment          Protection Construction Materials (ChangJiang) Co., Ltd.

        (瑞图明盛环保建材(昌江)有限公司)

	2	1	
        Article 1 Principal Creditor’s
        Right Secured by the Mortgage

        1.1 The Principal Creditor’s Right
        secured by Party B refers to creditor’s right enjoyed by Party A in accordance with Fixed Asset Loans Contract (No. 22010270-2013(ChangJiang)
        Zi 0009, hereinafter referred to as “Principal Contract”), made and entered into on September 2, 2013, by and between
        Party A and REIT Environmental Building Material (ChangJiang) Co., Ltd. (hereinafter referred to as “debtor”).

	3	2	
        Article 2 Scope of Mortgage

        The scope of mortgage covers principal
        amount of Principal Creditor’s Right, interest, compound interest, penalty interest, penalty fine, damage compensation, loss
        of exchange rate ( relevant loss due to exchange rate movement) and expenses for realization of the Mortgagee’s rights (including
        but not limited to litigation fees, legal fees, appraisal fees, auction fees and fees for selling the Mortgage).

 

    	 	1	 

     

    

 

	4	3	
        Article 3 Mortgaged Property

        3.2 Mortgagee’s rights of Party
        A are valid for accessory rights, accessory, accession, natural and legal fruits, subrogation of mortgaged property and insurance
        proceeds, damages and compensation incurred due to damage, loss and requisition of Mortgaged Property.

         

        3.8 Where Mortgaged Property is damaged,
        lost or requisitioned, insurance proceeds, damages and compensation acquired by Party B shall be used for repaying the principal
        debts ahead of schedule, or shall be used for reinstating value of Mortgaged Property. Such insurance proceeds, damages and compensation
        also shall be deposited in Party A’s designated account to secure debts under Principal Contract. The part of value of Mortgage
        Property which retains changeless, it shall continue to secure Principal creditor’s right.

         

        3.9 If Party B conduct any acts that reduce
        the value of mortgaged property, Party B shall stop its acts immediately and without delay. Where the value of the mortgaged property
        has been reduced, Party B shall restore the value of the mortgaged property, or shall provide guarantee equivalent to the reduced
        part.

	5	4	
        Article 4 Mortgage Registration

        Both parties shall process the registration
        with the competent registration authority within ten days after the execution of this Contract. Unless otherwise is provided in
        laws and regulations, registration fees shall be borne by Party B.

 

    	 	2	 

     

    

 

	6	5	
        Article 5 Insurance

        5.1 Party B shall duly arrange the insurance
        as required by Party A within fifteen days after the execution of this Contract.

         

        5.3 Party B shall not interrupt or cancel
        insurance for any reason within valid period of this Contract. If insurance is interrupted, Party B is entitled to arranging insurance
        on behalf of Party B and all expenses shall be borne by Party B.

	7	7	
        Article 7 Realization of Mortgagee’s
        Right

        7.1 In any of the following situations,
        Party A is entitled to realizing the mortgagee’s right:

        A. Debtor fails to repay the matured loan
        amount (including the debt being declared as early maturity) of principal creditor’s right;

        B. Where the situation stipulated in Article
        3.9 of this Contract occurs, Party B fails to restore the value of Mortgage Property or to provide security equivalent to the reduced
        part;

        C. Party B or Debtor are experiencing
        shutdown, dissolution, liquidation, administration, or such parties are applied for bankruptcy, revoked business license or even
        cancelled;

        D. Party B, breaking the principle of
        fair trade, disposes of Mortgage Property which has been taken out movable floating mortgage during production and operation; and

        E. If other conditions specified by laws
        and regulations are present.

	8	8	
        Article 8 Party B’s Representations
        and Warranties

        8.4 Mortgage Property, without any restriction,
        can be taken out a second mortgage legally.

         

        8.7 If Mortgage Property has been leased
        partially or totally, Party B shall inform lessee about mortgage matters, and shall notify Party B of lease in written.

         

        8.7 There is no warranty on Mortgage Property
        for others, or although warranties have been set up for others, Party B has notified Party A of specifics in written.

 

    	 	3	 

     

    

 

	9	9	
        Article 9 Party B’s Undertaking

        9.1 In any of the following situations,
        without the consent of Party B, Party B shall continue to assume the liabilities under security in accordance with this Contract.

        A. Party A and Debtor modify Principal
        Contract to some extent that such change does not aggravate the liabilities of the Debtor
        or extend period for performing debts;

        B.
        According to trade financing internationally and domestically, Party A and Debtor modify L/C relating to Principal Contract to
        some extent that such change does not aggravate Debtor’s payment under L/C or extend payment period;

        C. The amount of principal creditor’s
        right is changed due to floating rate adopted by Principal Contract or policy on interest rate adjustment introduced by People’s
        Bank of China; and

        D. Party A transfers its principal creditor’s
        right and mortgagee’s right.

         

        9.2 Without written consent of Party A,
        Party B shall not set new warranties, pledge on Mortgage Property in any manner, and shall not lease, transfer, present to a third
        party, and shall protect Mortgage Property from any harm.

         

        9.3 All expenses for realization of the
        Mortgagee’s rights hereunder, including but not limited to litigation fees, legal fees, appraisal fees, auction fees and
        fees for selling the Mortgage shall be borne by Party B.

         

        9.8 If there is another guarantee on principal
        creditor’s right of Party A, not matter it is provided by Debtor or a third party, Party A is entitled to determine the sequence
        of realization of guarantee at his discretion and Party B undertakes that it will not make any defense about it. If Party A waivers,
        modifies, losses its rights and interests of guarantee under Principal Contract, Party B shall continue to assume liabilities as
        security and shall not be voided or mitigated.

         

        9.9 Under domestic L/C, buyer financing
        under domestic L/C, import L/C and import bill advance/import payment business, in any of the following situations, Party B shall
        be responsible for guarantee without defense. Party B shall not claim exemption or make defense owing to the fact that any judicial
        authority or administration authority issue stop-payment order and injunction on payment under the said L/C, or take measures including
        sealing up, distrainment, freezing property relating to L/C:

        A. In accordance with Party A’s
        order, Party A’s designee and authorized person has made payment in good faith;

        B. Party A and his designee and authorized
        person have issued confirmation letter for payment at maturity under domestic L/C or have accepted the receipts under import L/C
        in good faith;

        C. Confirming Bank has made payment in
        good faith; and

        D. Negotiation Bank has negotiated in
        good faith.

 

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	10	13	
        Article 13 Dispute Resolution

        The formation, validity, construction,
        performance and settlement of dispute of this Contract shall be governed by the laws of People’s Republic of China. Any dispute
        arising during the performance hereof shall be resolved by the parties through negotiation, failing which either party may resort
        to the people’s court in the place where the Party A is located for resolving such dispute.

	11	Schedule	List of Mortgage
    Property

	 	 	Name	Ownership Certificate	Location	Condition	Estimated Value	Others
	 	 	
        306000 square meter of industrial land
        and constructing project on the ground

         
	
        No. CGY 0007 (2013)

         
	
        Southeast side of Haiyu

        West Line, Chahe Town, Changjiang Hainan
	Fine	RMB 138,485,500	
        Estimated Value of land is RMB 82,314,000.00,
        calculated in accordance with 70% of mortgage rate,

        mortgage value is RMB 57,620,000.00; Estimated
        Value of Construction in process is RMB 56,171,500.00, calculated in accordance with 70% of mortgage rate, mortgage value is RMB
        39,320,000.00

Mortgagor: REIT Environmental
Building Material (ChangJiang) Co., Ltd.

 

/s/ Hengfang
Li

 

Co-owner of Mortgage
Property (if any): N/A

 

Mortgagee: Industrial
and Commercial Bank of China Corp. ChangJiang Branch

 

/s/ Hongwen
Wu

 

5

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