Document:

Silvan Industries, Inc.: Exhibit 10.11 - Filed by newsfilecorp.com

	GUIZHOU XINGYI
      RURAL COOPERATION BANK 

No.: Xing Nong He Yin (2011) Nian Bao Dai Zi No.082 

Exhibit 10.11 

	 	
     	
    
	 	Guarantee Agreement 
	 	(English Translation) 
	 	  
	 	  
	 	  
	 	  
	Surety: Guizhou Dingshengxing
      Guarantee& Investment Co., Ltd. 
	Creditor: Guizhou Xingyi Rural
      Cooperative Bank 

 

1 

Guizhou Xingyi Rural Cooperation Bank

Guarantee Agreement 

	Surety (“Party A”): Guizhou Dingshengxin Guarantee&
      Investment Co., Ltd. 	 
	Address: Room G8, 24/F, Guiyang Hotel, Yunyan District,
      Guiyang, Guizhou 	 
	ID card No. or Organization Code: 77533646-6 	 
	   	 
	Creditor (“Party B”): Guizhou Xingyi Rural Cooperation
      Bank 	 
	   	 
	In order to secure the performance of the Working
      Capital Loan Contract (the “Master Contract”) [No.: Xing Nong
      He Yin (2011) Nian Liu Dai Zi No.082] concluded between Qian
      Xi Nan Aosen Forestry Company, Limited. (the “Debtor”) and Party B,
      and the realization of Party B’s claim, Party A is willing to offer the
      joint and several guaranty to the debt formed on the master contract
      between the Debtor and Party B. In accordance with pertinent laws,
      regulations and rules, Party A and Party B, upon consensus reached through
      consultation, make and enter into this Contract for mutual compliance. 	
    
	 
	Article 1 Mode of guarantee 
	  
	Party A offers the joint and several guarantee liability.
    
	  
	
      Party A confirms that where the Debtor fails to discharge
      the debt as stipulated in the master contract, regardless of whether Party
      B possesses other guaranties (including but not limited to such modes of
      guarantee as guaranty, mortgage, pledge, bond, etc.) to the debt under the
      master contract, Party B shall have the right to demand Party A directly
      to undertake the guarantee liability to the extent of its guarantee.
    

	  
	Article 2 Scope of guarantee 
	  
	
      Principal of the claim (in words) FIVE MILLION ONLY
      and interests (including the compound interests and penalty
      interests), penalties, compensation and related fees advanced by Party B,
      and all expenses incurred to Party B for the realization of the claim
      (including but not limited to the legal costs, arbitration fee, property
      preservation expenses, attorney’s fees, traveling expenses, execution
      fees, evaluation fees, auction fees, etc.) 

	  
	Article 3 Term of guarantee 	 
	  	
    
	
      From the effective date of this Contract to the date two
      years after the expiry date of the performance period of the debt under
      the master contract. Where Party B agrees on the extension of the claim
      upon maturity of the loan, the term of guarantee shall expire on the date
      two years after the expiry date of the performance period of the debt
      re-stipulated in the extension agreement. 

	  
	Article 4 Modification of the secured master contract

	  
	
      Party A confirms that any modification of articles of the
      master contract upon consensus between Party B and the Debtor shall be
      deemed as having acquired the prior consent of Party A, which cannot
      exempt Party A from its guarantee liability, with the exception that the
      amount of the principal of the claim is increased. Modification of the
      term of the master contract by the Creditor and the Debtor (including the
      extension under the letter of credit) shall not be subject to the consent
      of the Surety, but the Surety shall assume the guarantee liability
      continuously pursuant to the scope of guarantee set in this Contract, and
      the term of guarantee shall remain valid till the full repayment of the
      principal and interests or be extended accordingly. 

	  
	Article 5 Severability of contract validity 
	  
	
      This Contract is the ancillary contract of the master
      contract. Where the master contract is deemed as invalid, Party A is
      willing to undertake the joint and several guarantee liability to the debt
      resulting from the Debtor’s property return or loss compensation.
  

	  
	Article 6 Guarantee ability 
	  
	
      During the term of guarantee, where Party A loses or will
      probably loss the guarantee ability, or the legal person or other
      organizations as a surety undergoes contract, lease, combination, M&A,
      co-investment, division, association, joint stock reform, or cancellation,
      Party A shall given a written notice to Party B in advance, and all the
      obligations hereunder shall be undertaken by the body after the aforesaid
      charge or the body that makes the cancellation decision to Party A. In the
      event that Party B believes that the body after the change does not have
      corresponding guarantee ability, Party A or the body that makes the
      cancelation decision shall offer new acceptable guaranty to Party B, and
      conclude corresponding guarantee contract. 

	  	 
	
      During the term of guarantee, Party A, without the prior
      written consent of Party B, shall not offer guaranty above 100% of the
      amount of the net assets in its last annual financial statements to any
      third party. 
	 
	  	 
	Article 7 Supervision to surety 	 
	  	 
	
      During the term of the guarantee, Party B shall have the
      right to know Party A’s production and operation, financial activities,
      industrial and commercial registration, tax registration, tax payment and
      operation of related enterprises, and conduct investigation, also have the
      right to require Party A to provide related planning, statistics,
      financial statements, etc., and Party A shall: 
	 
	  	 
	
      (1) Provide related financial materials and production
      and operation materials as required by Party B, and be held liable for the
      authenticity, integrity and validity of the materials provided; 
	 
	
       
	 
	
      (2) Provide the industrial and commercial registration
      information as required by Party B, and offer conveniences to Party B for the investigation of the industrial and commercial
registration in the name of Party A; 
	 

 2 

 

(3) Provide the tax registration and payment information as
required by Party B, and offer conveniences to Party B for the investigation of
the tax registration in the name of Party A; 

(4) Provide the list of major fixed assets as required by Party
B, and offer conveniences to Party B for the investigation and verification of
Party A’s immovable properties; 

(5) Provide the list of related enterprises and copies of the
business license of the enterprises, and the list of shareholders or
contributors as required by Party B; 

(6) Provide the list of Party A’s external investments and
current status as required by Party B; and 

(7) Provide the list of Party A’s external guaranty, lease and
donation as required by Party B. 

Article 8 Early assumption of guarantee liability 

During the term of guarantee, where Party B declares early
maturity of the debt as stipulated in the master contract, Party B shall have
the right to require Party A to undertake the joint and several guarantee
liability. 

Article 9 Transfer and collection of amount payable 

As for the amount payable to which Party A undertakes the joint
and several payment liability, Party A irrevocably authorizes Party A to
transfer and collect from its account opened by Party A with Party B and its
branches. The stipulation of this article shall be taken as Party A’s
irrevocable authorization to Party B on its direct transfer and collection of
amount for the repayment of the loan principal and interests. 

Article 10 Miscellaneous 

1. During the term of guarantee, such cases of the Debtor as
combination, division, joint stock reform, capital increase or decrease,
co-investment, association, or rename shall not reduce Party A’s guarantee
liability or exempt Party A from the guarantee liability. 

2. The Surety shall be obligated to supervise the Debtor’s use
of the loan. 

3. The Surety has fully recognized the interest rate risk, and
is willing to undertake the increased guarantee liability due to the fluctuation
of interest rate where the floating interest rate is adopted in the master
contract. 

4.                                                                                                                              
.

Article 11 Dispute resolution 

Any disputes arising from the contract performance shall be
settled through negotiation. Should no consensus be reached, Method 1
below shall be adopted for solution: 

1. Take legal action at the people’s court of the place where
Party B is located; 

2. Submit it
to               
arbitration commission for arbitration. 

During the litigation or arbitration period, articles of the
part irrelevant to the disputes shall be performed continuously. 

Article 12 Effectiveness 

This Contract shall take effect after signed or sealed by Party
A and Party B. 

Article 13 This Contract shall be made in duplicate,
with Party A, Party B and the Debtor each holding one. 

	The Surety has read the aforesaid articles carefully,
      and the Creditor has construed articles of the Contract upon
      request of the Surety, and performed the obligation of giving
      reasonable prompt and explanation. The Surety has know the
      meanings, and has no objection to contents of the articles hereof.
  

	Party A: 	Party B: 
	Legal Representative (Principal) 	Legal Representative (Principal) 
	Or Authorized Representative (Signature or Seal): 	Or Authorized Representative (Signature or
      Seal): Zhou Lunqi 
	  	Handling Person: Xiao Qiangfeng 
	3 August 2011 	3 August 2011 

	
    	
    	
    
	Guizhou Dingshengxin Guarantee& Investment Co., Ltd.
      	Guizhou Xingyi Rural Cooperation Bank
	
    Seal 

	Xi’nanzhou Branch 	for Contracts 	  

3ex10_5.htm

Exhibit 10.5

 

 

 

	
PROMISSORY NOTE

 

 

	$500,000 	
May 13,  2011

 

1.           FUNDAMENTAL PROVISIONS.

 

The following terms will be used as defined terms in this Note:

 

	
Payee and Holder:

	
754 2542 Canada Inc

	 	 
	
Maker:

	
DNA Precious Metal, Inc.

	 	 
	
Principal Amount:

	
$500,000.00

	 	 
	
Maturity Dates:

	
May 31, 2014

	 	 
	
Default Interest Rate:

	
5% per annum

	 	 
	
Business Day:

	
Any day of the year other than Saturdays, Sundays, or legal holidays in the state of Nevada.

	 	 
	
Loan:

	
The loan from Payee to Maker in the Principal Amount and evidenced by this Note.

 

2.           PROMISE TO PAY.

 

For value received, Maker, promises to pay to the order of Holder, the sum of $500,000 on the Maturity Date.

 

3.           PAYMENTS.

 

(a)           All payments due hereunder shall be made (i) without deduction of any present and future taxes, levies, imposts, deductions, charges or withholdings, which amounts shall be paid by Maker, and (ii) without any other set off.  Maker will pay the amounts necessary such that the Principal Amount received by the Holder hereof is not less than that required by this Note.

 

(b)           The Note shall be repaid in full no later than the Maturity Date.

 

c)            If any payment to be made by Maker hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day.

 

4.           PREPAYMENT.

 

  Maker shall have the right to prepay the amounts due on the Note, or any portion thereof, without premium or penalty.

 

  

  

  

 

5.           LAWFUL MONEY.

 

  All payments made under this Note are payable in lawful money of the United States of America.

 

6.           ADDITIONAL PAYMENTS.

 

  Following funding, Maker shall issue to Payee 1,000,000 (one million) shares  of the Company’s common stock (the “Shares”).  The Shares are being issued to the Payee pursuant to an exemption from registration pursuant Section 4(2) of the Securities Act of 1933.

 

7.              EVENT OF DEFAULT.

 

The occurrence of any of the following shall constitute an event of default (“Event of Default”):

 

(a)  Failure to Pay.  Maker fails to pay the Principal Amount on the Maturity Date.

 

(b)  Failure to Issue Shares.  The Maker shall fail to issue the Shares to the Payee.

 

(c)  Denominated Events.  The occurrence of any event expressly denominated as an Event of Default in this Note;  

 

(d)  Failure to Perform.  Maker fails to perform or observe any material covenant, term or condition of this Note, or any other note or obligation issued or owing in respect to Payee and to be performed or observed by Maker, and such failure continues unremedied for a period of twenty (20)  days after written or facsimile notice from Payee to Maker of such failure; or 

 

(e)  Petition By or Against Maker.  There is filed by or against Maker any petition or complaint with respect to its own financial condition under any state or federal bankruptcy law.

 

8.           REMEDIES.

 

(a)  Acceleration, Proceed Against Collateral.  Upon the occurrence of an Event of Default and for so long as such default is continuing:

 

(1)  The total amount of (i) of this Note and all other sums owing to Payee which are (x) then due and unpaid or (y) thereafter to become due and payable; and (ii) interest on the foregoing sums, at the rate of five percent  (5%) per annum from said occurrence until paid in full (the “Default Amount”) shall, at the option of Payee, become immediately due and payable upon written notice to the Maker; and

 

(2)  Payee may exercise any of the other remedies provided under applicable laws.

 

 (b) Cumulative Remedies; Waivers.  No remedy referred to herein is intended to be exclusive, but each shall be cumulative and in addition to any other remedy referred to above or otherwise available to Payee at law or in equity.  No express or implied waiver by Payee of any default or Event of Default hereunder shall in any way be, or be construed to be, a waiver of any future or subsequent default or event of Default.  The failure or delay by Payee in exercising any rights granted it hereunder under any occurrence of any of the contingencies set forth herein shall not constitute a waiver of any such right upon the continuation or recurrence of any such contingencies or similar contingencies, and any single or partial exercise of any particular right by Payee shall not exhaust the same or constitute a waiver of any other right provided herein.  

 

9.           WAIVER.

 

  The Holder hereof may extend the Maturity Date or the time for payment of any installment due hereunder.

 

  

  

  

 

10.         CHANGE, DISCHARGE, TERMINATION, OR WAIVER.

 

  No provision of this Note may be changed, discharged, terminated, or waived except in writing signed by the party against whom enforcement of the change, discharge, termination or waiver is sought.  No failure on the part of the Holder hereof to exercise and no delay by the Holder hereof in exercising any right or remedy under this Note or under the law shall operate as a waiver thereof.

 

11.         COSTS.

 

  If this Note is not paid when due or if any Event of Default occurs, Maker promises to pay all costs of enforcement and collection and preparation thereof,  exclusive of any attorney fees.

 

12.          SEVERABILITY.

 

If any provision of this Note is unenforceable, the enforceability of the other provisions shall not be affected and they shall remain in full force and effect.

 

13.           NUMBER AND GENDER.

 

In this Note the singular shall include the plural and the masculine shall include the feminine and neuter gender, and vice versa.

 

14.           HEADINGS.

 

Headings at the beginning of each numbered section of this Note are intended solely for convenience and are not part of this Note.

 

15.         CHOICE OF LAW.

This Note shall be governed by and construed in accordance with the laws of the State of Nevada.  In the event of any litigation, the parties agree to the jurisdiction of the courts located in the state of Nevada.

 

	
MAKER:

	  	
WITNESS:

	 
	  	  	  	 
	 	 	 	 
	
DNA PRECIOUS METALS, INC.

 

	  	  	 
	 	 	 	 
	  	  	  	 
	
/s/ James Chandik

	  	
/s/Jeff Bercovitch

	 
	  	  	  	 
	 	  	
     

	 
	  	  	  	 
	
BY:  James Chandik

	  	
/s/Jeff Bercovitch

	 
	  	  	  	 
	
ITS:   Chief Executive Officer

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