Document:

Bank Acceptance Agreement

No: 701200088

 

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

Acceptor: Bank of Ningbo, Shanghai Branch

 

According to the law, legislation and the
business institution , Both parties enter into this agreement based on consensus

 

Accept the bank acceptance

 

The total bank acceptance which the applicant
apply for is 4 pieces, amount total of RMB 4 million.

On the condition of applicant fulfills
its obligation under the agreement, the acceptor agree to accept the bank acceptances, detail as following

 

		 	CER Energy 	 	CER Energy	 	CER Energy	 	CER Energy 
	 	 	Recovery	 	Recovery	 	Recovery	 	Recovery
	 	 	(Shanghai)	 	(Shanghai)	 	(Shanghai)	 	(Shanghai)
	Name	 	Co.,Ltd	 	Co.,Ltd	 	Co.,Ltd	 	Co.,Ltd
	Bank	 	ICBC Shanghai jidiangang branch	 	ICBC Shanghai jidiangang branch	 	ICBC Shanghai jidiangang branch	 	ICBC Shanghai jidiangang branch
	Account number	 	1001145719006914063	 	1001145719006914063	 	1001145719006914063	 	1001145719006914063
	Acceptance amount	 	RMB 1 million	 	RMB 1 million	 	RMB 1 million	 	RMB 1 million
	date of draft	 	2012.3.6	 	2012.3.6	 	2012.3.6	 	2012.3.6
	Maturity date	 	2012.9.6	 	2012.9.6	 	2012.9.6	 	2012.9.6

 

Delivery and payment of the bank acceptance

 

Applicant should deposit enough money to
Acceptor before the mature date of bank acceptance under this agreement unconditional. From the mature date of bank acceptance,
and as the following, the Acceptor has the rights to deduct the payment from the account of applicant directly.

 

Commission charge

 

The commission is calculated with the 0.5%
of the total amount of bank acceptance, it is RMB 2000 under this agreement. The applicant agrees to pay this commission to the
acceptor at once

    	 

    	 

    

 

Security

1 The applicant should deposit RMB 2 million
to the account (no: 70010099000062557) which opened in Acceptor or the branch of Acceptor. The deposit cannot be used by Applicant,
before the amount of acceptance has been fully repaid. If the applicant can not repay the enough money at the maturity date, the
acceptor has the rights to deduct the lack part from the deposit directly.

 

2. The interest rate of the deposit is
calculated with following method:

 

It should calculate with the rate of 6
months fixed deposit issued by People's Bank of China, if the period of deposit is not lasting for 6 months, the interest rate
will calculate in current deposit rate issued by People's Bank of China.

 

Undertakings of Applicant

 

		1.	The Applicant undertakes the business rules of acceptor and authorize the acceptor to have the
right to deduct the deposit ,commission from its account

		2.	The bank acceptance under the contract is based on the true and legal commercial transaction with
authenticity and validity

		3.	Dispute raised with acceptance holder can not be the obstruction that makes the refusal to fulfill
obligation by Applicant .The dispute will have no effect to the rights and obligation of each party under this agreement. The applicant
should repay full money to the acceptor on time based Article 2 of this agreement.

		4.	Applicant undertakes to provide the document and information for operation status ,financial report
,basic contract per the request of acceptor and should be in the responsible of the authenticity and validity

		5.	During the period of this agreement, if there occurs any one situation as following, the Applicant
should notice Acceptor in time and provide full deposit for the bank acceptance in advance or new guarantee according to the Acceptor’s
requirements. Meanwhile, the Acceptor has the rights to announce the overdue of the credit that the Applicant got from the Acceptor,
including but not limited to following: loan, bill discount, bank acceptance, business financing, etc. and the Acceptor has the
rights to (1) stop to provide loan (2) recovery principle and interest which has provided (3) bring a lawsuit against (4) apply
to seizure of all applicant’s property (5) the other method to keep the assets secure, and the other branch of Bank of Ningbo
also has the above rights

		(1)	If there is any great operation decision for the applicant, such as Chinese-foreign joint, merge,
disjunction, change the line of production, disbandment or bankrupt, the Applicant should notice the Acceptor in written one month
advance. The successor of the Applicant would automatically be the new Applicant after the written approval of the Acceptor under
this agreement ,the successor willl keep the same responsibility under this agreement

		(2)	If there is any change for the name, corporate representative, address , registered capital and
so on of the Applicant ,then he should notice the Acceptor in 3 days in written

 

    	 

    	 

    

 

		(3)	Besides above, if there is any other affair which has material effect for the applicant to fulfill
its obligation ,including but not limited to stop production, logout, business license revoke, litigious activities, great economic
dispute, freezing of property, has trouble in financing status and so on , the Applicant should notice the Acceptor in 3 days in
written

6 All the meanings under this
agreement are truthfulness. If the agreement is regarded as invalidity, the Applicant will still fulfill its obligation of this
contract and will compensate all the loss of Acceptor.

7 The applicant will undertake
other obligation which set by law

 

Rights and obligations of
Acceptor

 

		1.	Except the situations of refusal payment set by law, the Acceptor will fully pay the money to the
Acceptance holder without any condition at the maturity date of the bank of acceptance even if the Applicant can not pay the enough
money

		2.	If the Applicant can not pay the enough money at the maturity date, the Acceptor has the rights
to regard the unpaid money as overdue loan of the Applicant and will calculate the interest and compound interest according to
statement 7 in Article 2 of without signing another loan contract with the applicant. And the acceptor has the rights to deduct
the principle and interest and other fee from the applicant’s account or has the rights to get the compensation from the
applicant’s guaranty

		3.	If there occurs any other material affair not definite in statement 5 of Article 2, which will
damage the interest of Acceptor, the Acceptor has the rights to hand over all the acceptance amount in advance or seeking legal
security procedures

		4.	If the Applicant break any terms or undertakings , besides to undertake the responsibility of specified
in Artical7 of this agreement, the Acceptor has the rights to require the Applicant to provide full security deposit for the bank
acceptances and take other legal action to insure the assets

 

Responsibility of Breach 

		1.	Both parties should fulfill the agreement or should afford the responsibility of breach of agreement
according to the related laws and regulations

		2.	If the Applicant can not repay the money, the Acceptor has the rights to calculate the interest
as 0.5% per day for the part of unpaid money. The interest will be calculated with the interest as 0.5% by compound method

		3.	If the Applicant provides the false document or status on purpose. The Applicant shall pay 10%
of the acceptance amount under this agreement as the penal sum to the acceptor

		4.	If there is any need for the Acceptor to achieve its creditor’s rights , the Applicant should
afford the legal cost, action cost ,lawyer cost ,travelling cost or the other cost related to achieve the Acceptor’s rights

 

    	 

    	 

    

 

Guarantee for creditor's rights 

 

If the applicant does not save or does
not save enough cash deposit on the Acceptors, the balance should be guaranteed by the guarantors of Wu Qinghuan and Zhou Jialing.
The guarantee contract number is 0700113920120019; 070010920120020

 

Miscellanea

		1.	If there is any dispute raised in the agreement , both parties should resolve by negotiation, if
failed , then can bring a lawsuit against in the people's court in the location of the Acceptor

		2.	If any party thinks the agreement should have the justice then it needs both parties to apply for
the justice to the justice institution and clear the effective of forcible execution. The justice cost should afforded by the Applicant
and the Acceptor has the rights to collect for

		3.	The matters not mentioned should handle by the laws and regulations, the rules of acceptor and
regulator

 

The contract is in 2 duplicate, each party
hold one piece

 

Declaration and Note

 

The acceptor has brought the applicant's
special attention to all terms in relation to the rights and obligations of each Party, asked the applicant to fully and accurately
understand all such terms. The applicant has carefully read and fully understands all contractual terms hereof and has no dispute
over the terms of this Contact.

 

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: ____2012-3-6___Bank Acceptance

No: 7012000112

 

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

Acceptor: Bank of Ningbo, Shanghai Branch

 

According to the law , legislation and
the business institution , Both parties enter into this contract based on consensus

 

Accept the bank acceptance

 

The total bank acceptance which the applicant
apply for is 4 pieces , amount is RMB 4 million On the condition of applicant can fully fulfill its obligation, the acceptor agree
to accept ,detail as following

 

	 	 	CER Energy	 	CER Energy	 	CER Energy	 	CER Energy
	 	 	Recovery	 	Recovery	 	Recovery	 	Recovery
	Name	 	 (Shanghai) Co.,Ltd	 	(Shanghai) Co.,Ltd	 	(Shanghai) Co.,Ltd	 	(Shanghai) Co.,Ltd
	Bank	 	ICBC Shanghai jidiangang branch	 	ICBC Shanghai jidiangang branch	 	ICBC Shanghai jidiangang branch	 	ICBC Shanghai jidiangang branch
	Account number	 	1001145719006914063	 	1001145719006914063	 	1001145719006914063	 	1001145719006914063
	Acceptance amount	 	RMB 2 million	 	RMB 1 million	 	RMB 1 million	 	RMB 1 million
	date of draft	 	2012.3.21	 	2012.3.21	 	2012.3.21	 	2012.3.21
	Maturity date	 	2012.9.21	 	2012.9.21	 	2012.9.21	 	2012.9.21

 

Delivery and payment of the bank acceptance

 

Applicant should hand over these enough
bank acceptance to the acceptor unconditional. From the date as the following, the acceptor has the rights to deduct the payment
from the account of applicant

 

Commission charge

 

The commission is calculated with the 0.5%
of the amount of this bank acceptance, and then it should be RMB 2500. The applicant agrees to pay this commission to the acceptor
at once

 

Cash deposit 

1 The applicant should transfer RMB 2.5
million to the account (no: 70010099000062557) as the cash deposit. Before repay the amount of acceptance, the applicant can not
use it. If the applicant can not repay the enough money at the maturity date, then the acceptor has the rights to deduct the lack
part from the cash deposit

 

    	 

    	 

    

 

2. The interest rate for the cash deposit
is calculated with following method

 

It should calculate with the rate of 6
months fixed deposit of people's Bank of China, if the cash deposit is not enough, then the interest rate will calculate in current
deposit rate of people's Bank of China

 

Undertakings of applicant

 

		1.	The applicant undertakes the business rules of acceptor
and authorize the acceptor deduct the cash deposit ,commission from its account

		2.	The bank acceptance under the contract is based on the
true and legal commodity transaction and should afford the responsibility for the authenticity and validity

		3.	These dispute raised with ticket holder can not be the
reason that refuse to fulfill it’s obligation .And it will have no effect to the rights and obligation of each party. The
applicant should repay the acceptance to the acceptor on time

		4.	Applicant undertakes to provide the document and information
for operation status ,financial report ,basic contract per the request of acceptor and should in the responsibility for the authenticity
and validity

		5.	During the period of this contract, if there occur any
one situation as following , the applicant should notice acceptor in time and should pay the cash deposit in advance . And meanwhile
the acceptor has the rights to say all the credit of the applicant will overdue in advance and also has the rights to (1) stop
to provide loan (2) recovery these principle and interest which has provided (3) bring a lawsuit against (4) apply to seizure
of all applicant’s property (5) the other method to keep the assets and the other branch of bank of Ningbo also has the
above rights

		(1)	If there is any great operation decision for the applicant,
such as Chinese-foreign joint, merge, disjunction, change the line of production, disbandment or bankrupt, applicant should notice
the acceptor in one month advance. The beneficiary of the applicant should be the new applicant ,which still keep the same responsibility

		(2)	If there is any change for the name, corporate representative,
address , registered capital and so on of applicant ,then he should notice the acceptor in 3 days in written

		(3)	Besides above, if there is ant other affair which have
the big effect for the applicant to fulfill its obligation ,including but not limited to stop production, logout, business license
revoke, litigious activities, great economic dispute, freezing of property, has trouble in financing status and so on , the applicant
should inform the acceptor in 3 days in written

		6	All the meaning under this contract are truthfulness.
If the contract is regarded as invalidity, the applicant will still fulfill its obligation of this contract and will compensate
all the loss of acceptor.

		7	The applicant will undertakes the other obligation which
set by law

 

    	 

    	 

    

 

		

 

	Rights	and obligations of acceptor

		1.	If it is the maturity date of the bank of acceptance
and the applicant can not pay the enough money, the acceptor still need to pay the money to the ticket holder without any condition

		2.	If the applicant can not pay the enough money at the
maturity date, the acceptor has the rights to regard the unpaid money as the overdue loan for the applicant and will calculate
the interest and compound interest according to the term 2 of statement 7 without signing another loan contract with the applicant.
And the acceptor has the rights to deduct the principle and interest and other fee from the applicant’s account or has the
rights to get the compensation from the applicant’s guaranty

		3.	If there is another great affairs which will damage the
interest of acceptor beside the description in the term 5 of statement 5, the acceptor has the rights to hand over all the acceptance
amount in advance or take the legal action

		4.	If the applicant break any terms or undertakings , besides
to undertake the responsibility of term 7 ,and also the acceptor has the rights to ask the applicant to hand over all the cash
deposit and can take the other legal action to insure the assets

 

Responsibility of breach of contract 

		1.	Both parties should fulfill the contract or should afford
the responsibility of breach of contract according to the related laws and regulations

		2.	If the applicant can not repay the money, the acceptor
has the rights to calculate the interest as 0.5% per day for this unpaid money. For these unpaid interest ,then calculate with
the interest as 0.5% for the compound interest

		3.	If the applicant provide the false document or status
on purpose. Then it should pay the 10% of the acceptance amount as the penal sum to the acceptor

		4.	If there is any need for the acceptor to achieve its
creditor’s rights , then the applicant should afford the legal cost, action cost ,lawyer cost ,travelling cost or the other
cost related to achieve the creditor’s rights

Guarantee for creditor's rights  

If the applicant does not save or does
not save enough cash deposit on the acceptor’s, the balance should be guaranteed by the #1-3 underground garage No.269 Quyang
Road of Wu Qinghuan and Zhou Jialing . The guarantee contract number is 0700113920120019; 070010920120020

 

Miscellanea 

		1.	If there is any dispute in the contract , both parties
should resolve by consultation, if failed , then can bring a lawsuit against in the people's court in the local of acceptor

		2.	If any party thinks the contract should have the justice
then it needs both parties to apply for the justice to the justice institution and clear the effective of forcible execution.
The justice cost should afforded by the applicant and the acceptor has the rights to collect for

		3.	The matters not mentioned should handle by the laws and regulations, the rules of acceptor and
regulator

 

The contract is in 2 duplicate, each party
hold one piece

 

    	 

    	 

    

 

Declaration and Note

 

The acceptor has brought the
applicant's special attention to all terms in relation to the rights and obligations of each Party, asked the applicant to
fully and accurately understand all such terms.

 

The applicant has carefully read and fully understands all contractual terms
hereof and has no dispute over the terms of this Contact.

  

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: ____2012-3-21______

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