Document:

EXHIBIT
        4.38

    

     

    Renminbi
      Capital Loan Contract

     

    China
      Construction Bank Corporation

     

    Beijing
      Branch

     

    
      
        
        

      

      
        1

        
          

        

      

       

    

     

    Borrower
      (hereinafter referred to as “Party A”): Beijing
      Origin Seed Limited.

     

    Lender
      (hereinafter referred to as “Party B”): China
      Construction Bank Corporation Beijing Shangdi Sub-Branch

     

    Party
      A
      has made an application to Party B for a loan and Party B agrees to advance
      the
      loan. According to relevant laws, regulations and rules, Party A and Party
      B,
      upon negotiation, enter into this Contract for their mutual compliance and
      performance.

     

    Article
      1 Amount
      of Money Borrowed

     

    Party
      A
      borrows from Party B an amount of RMB (Say) Nine
      Million Yuan.

     

    Article
      2 Purpose
      of Money Borrowed

     

    Party
      A
      will use the money borrowed for the purpose of working
      capital.

     

    Article
      3 Term
      of Money Borrowed

     

    As
      provided in this Contract, the term of the money borrowed is 12
      months
      commencing from July
      6, 2007
      and
      ending on June
      30, 2008.

     

    If
      the
      commencement date of the term of the money borrowed hereunder is different
      from
      that specified in the bank remittance voucher, the date specified in the bank
      remittance voucher for the first advance shall prevail. The bank remittance
      voucher shall be an integral part of this Contract and have the same force
      and
      effect as this Contract.

     

    Article
      4 Interest
      Rate, Penalty Interest Rate, Interest Calculation and
      Settlement

     

    1. Interest
      Rate

     

    The
      interest rate of the loan hereunder shall be a monthly
      interest
      rate at (1)
      below:

     

    
      	 	
              (1)

            	
              fixed
                rate of 5.475‰,
                which rate shall remain unchanged during the term of the money
                borrowed;

            

    

     

    
      	 	
              (2)

            	
              floating
                rate, that is, [intentionally
                left blank] %
                [intentionally
                left blank]
                (above/below) the base interest rate and adjusted every [intentionally
                left blank]
                months from the Interest Starting Date. The interest adjustment date
                shall
                be the date corresponding to the Interest Starting Date in the month
                the
                interest is adjusted. If there is no date corresponding to the Interest
                Starting Date in that month, then the last day in that month shall
                be the
                interest adjustment date.

            

    

     

    
      	
              2.

            	
              Penalty
                Interest Rate

            

    

     

    
      	 	
              (1)

            	
              The
                penalty interest rate shall be a monthly
                interest rate.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (2)

            	
              If
                Party A fails to use the loan for the purpose specified herein, the
                penalty interest rate shall be at (i)
                below:

            

    

     

    
      	 	
              (i)

            	
              fixed
                rate of 10.95‰;

            

    

     

    
      	 	
              (ii)

            	
              floating
                rate, that is, [intentionally
                left blank]%
                above the base interest rate and adjusted every [intentionally
                left blank]
                months from the Interest Starting Date. The penalty interest adjustment
                date shall be the date corresponding to the Interest Starting Date
                in the
                month the penalty interest is adjusted. If there is no date corresponding
                to the Interest Starting Date in that month, then the last day in
                that
                month shall be the interest adjustment
                date.

            

    

     

    
      	 	
              (3)

            	
              The
                penalty interest for overdue loan hereunder shall be at the rate
                of (i)
                below:

            

    

     

    
      	 	
              (i)

            	
              fixed
                rate of 8.2125‰;

            

    

     

    
      	 	
              (ii)

            	
              floating
                rate, that is, [intentionally
                left blank]%
                above the base interest rate and adjusted every [intentionally
                left blank]
                months from the Interest Starting Date. The penalty interest adjustment
                date shall be the date corresponding to the Interest Starting Date
                in the
                month the penalty interest is adjusted. If there is no date corresponding
                to the Interest Starting Date in that month, then the last day in
                that
                month shall be the interest adjustment
                date.

            

    

     

    
      	
              3.

            	
              The
                Interest Starting Date referred to in this Article means the date
                when the
                first advance made hereunder is transferred and deposited into Party
                A’s
                account.

            

    

     

    The
      base
      interest rate for the first advance made hereunder shall be the interest rate
      for loans of same grade announced by the People’s Bank of China on the date of
      Interest Starting Date; thereafter, when the interest rate or penalty interest
      rate is adjusted pursuant to the foregoing provisions, the base interest rate
      shall be the interest rate for loans of same grade announced by the People’s
      Bank of China on the adjustment date; if no interest rate is announced by the
      People’s Bank of China for loans of same grade, the base interest rate shall be
      the inter-bank acceptable or customary interest rate for loans of same grade
      on
      the adjustment date, unless otherwise provided by the parties. 

     

    
      	
              4.

            	
              The
                interest of the loan shall be accrued from the date when the loan
                is
                deposited into Party A’s account. The interest of the loan hereunder shall
                be accrued on a daily basis. The daily interest rate = monthly interest
                rate/30 = annual interest rate/360. A compound interest shall be
                accrued
                from the following date if Party A fails to pay accrued interest
                when
                due.

            

    

     

    
      	
              5.

            	
              Settlement
                of Interest

            

    

     

    
      	 	
              (1)

            	
              If
                a fixed interest rate is applied to the loan, the interest shall
                be
                calculated and settled at the agreed interest rate. If a floating
                interest
                rate is applied to the loan, the interest shall be calculated at
                such
                interest rate as then determined at each floating period; if the
                interest
                rate changes several times within one interest settlement period,
                the
                interest accrued at each floating period shall be first calculated
                and
                then added up on the interest settlement date as the interest accrued
                within such interest settlement
                period.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (2)

            	
              The
                interest shall be settled on a monthly
                basis for the loan hereunder and the interest settlement date shall
                be the
                20th of every month.

            

    

     

    Article
      5 Advance
      and Use of Money Borrowed

     

    
      	
              1.

            	
              Conditions
                Precedent to the Advance of the Money
                Borrowed

            

    

     

    
      	 	
              (1)

            	
              Party
                B is only obligated to advance the money borrowed upon the satisfaction
                of
                the following conditions unless the same are wholly or partly waived
                by
                Party B:

            

    

     

    
      	 	
              i.

            	
              Party
                A having completed the approval, registration, delivery and other
                legal
                procedures in respect of the loan hereunder according to relevant
                laws and
                regulations;

            

    

     

    
      	 	
              ii.

            	
              If
                a security is created for this Contract, a security contract or other
                form
                of security that satisfies Party B’s requirement having become
                effective;

            

    

     

    
      	 	
              iii.

            	
              Party
                A having committed no event of default set forth in this
                Contract;

            

    

     

    
      	 	
              iv.

            	
              Other
                conditions precedent to the advance of the loan as agreed by the
                two
                Parties:

            

    

     

    [intentionally
      left blank] .

     

    
      	 	
              (2)

            	
              Party
                B shall begin to advance the loan within five
                bank business days after Party A has satisfied the foregoing
                conditions.

            

    

     

    
      	
              2.

            	
              Schedule
                of Use of the Loan

            

    

     

    
      
        	 	
                (1)
                  July 6, 2007

              	
                 

              	
                amount
                  Nine Million Yuan;

              
	 	 	 	 
	 	
                (2)
                  [intentionally left blank]_____ (date)

              	
                 

              	
                amount
                  [intentionally left blank]_____;

              
	 	 	 	 
	 	
                (3)
                  [intentionally left blank]___ (date)

              	
                 

              	
                amount
                  [intentionally left blank]_____;

              
	 	 	 	 
	 	
                (4)
                  [intentionally left blank]___ (date)

              	
                 

              	
                amount
                  [intentionally left blank]_____;

              
	 	 	 	 
	 	
                (5)
                  [intentionally left blank]___ (date)

              	
                 

              	
                amount
                  [intentionally left blank]_____;

              
	 	 	 	 
	 	
                (6)
                  [intentionally left blank]___ (date)

              	
                 

              	
                amount
                  [intentionally left
                  blank]_____.

              

      

    

     

    Article
      6 Repayment

     

    
      	
              1.

            	
              Repayment
                Principles

            

    

     

    Repayment
      made by Party A hereunder shall comply with the following
      principles:

     

    
      	 	
              (1)

            	
              the
                principle of principal repaid first and interest paid then shall
                be
                applied to the following loans: its principal amount is overdue for
                over
                90 days; its interest is overdue for over 90 days; Party A has ceased
                its
                production and operation or project the loan involves although the
                loan is
                not matured or is overdue for less then 90 days; loans otherwise
                provided
                for by laws or regulations;

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (2)

            	
              the
                principles of interest paid first and principal repaid then and the
                interest paid together with the principal shall be applied to loans
                other
                than those described in the above paragraph
                (1).

            

    

     

    
      	
              2.

            	
              Payment
                of Interest

            

    

     

    Party
      A
      shall pay to Party B all interest accrued on the interest settlement date.
      The
      first date of payment of interest shall be the first interest settlement date
      after the advance of the money borrowed. All interest accrued shall be paid
      at
      the time of final repayment.

     

    
      	
              3.

            	
              Schedule
                of Repayment of Principal

            

    

     

    Party
      A
      shall repay the principal of the loan as per the schedule as
      follows:

     

    
      
        	 	
                (1)
                  June 30, 2008

              	 	
                amount
                  Nine
                  Million Yuan;

              
	 	 	 	 
	 	
                (2)
                  [intentionally
                  left blank]____
                  (date)

              	 	
                amount
                  [intentionally
                  left blank]_____;

              
	 	 	 	 
	 	
                (3)
                  [intentionally
                  left blank]___
                  (date)

              	 	
                amount
                  [intentionally
                  left blank]_____;

              
	 	 	 	 
	 	
                (4)
                  [intentionally
                  left blank]___
                  (date)

              	 	
                amount
                  [intentionally
                  left blank]_____;

              
	 	 	 	 
	 	
                (5)
                  [intentionally
                  left blank]___
                  (date)

              	 	
                amount
                  [intentionally
                  left blank]_____;

              
	 	 	 	 
	 	
                (6)
                  [intentionally
                  left blank]___
                  (date)

              	 	
                amount
                  [intentionally
                  left blank]_____.

              

      

    

     

    
      	
              4.

            	
              Method
                of Repayment

            

    

     

    
      	 	
              Prior
                to the repayment date provided in this Contract, Party A shall deposit
                into an account opened by Party B enough funds for any amount then
                due and
                such funds will be automatically transferred and paid to Party B,
                or, on
                the repayment date provided in this Contract, Party A shall transfer
                funds
                from other account for the repayment of the loan. If Party A fails
                to
                repay the loan in a timely manner, Party B shall have the right to
                transfer and receive any funds from the account opened by Party A
                at China
                Construction Bank’s system.

            

    

     

    
      	
              5.

            	
              Prepayment

            

    

     

    
      	 	
              (1)

            	
              Party
                A is only required to give Party B a prior notice for its prepayment
                of
                the interest.

            

    

     

    
      	 	
              (2)

            	
              Party
                A shall submit to Party B a written application 30
                bank business days in advance for its prepayment of the principal
                and may
                prepay part or whole of the principal upon Party B’s
                consent.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    If
      Party
      A prepays the principal, the interest shall be accrued based on the actual
      number of days the money is borrowed and at the interest rate set forth in
      Article 4 of this Contract.

     

    If
      Party
      A prepays the principal, Party A agrees to pay to Party B liquidated damages
      as
      follows: liquidated damages = amount prepaid x number of months ahead x rate
      of
      liquidated damages. The rate of liquidated damages is 1‰.
      In case
      of less than one month, it
      shall be deemed as one month.

     

    If
      Party
      A prepays part of the principal of the loan that is to be repaid by
      installments, such prepayment shall be made pursuant to the repayment schedule
      in reverse order. After such prepayment, the interest rate set forth in this
      Contract shall continue to be applied to the outstanding loan.

     

    Article
      7 Security
      of Money Borrowed

     

    In
      case
      of a secured loan, the form of security is 2
      as
      follows:

     

    
      	
              1.

            	
              Guarantee.

            

    

     

    
      	
              2.

            	
              Mortgage.

            

    

     

    
      	
              3.

            	
              Pledge.

            

    

     

    
      	
              4.

            	
              Standby
                Letter of Credit.

            

    

     

    
      	
              5.

            	
              Credit
                Insurance.

            

    

     

    
      	
              6.

            	
              Others:
                [intentionally
                left blank]___.

            

    

     

    Article
      8 Party
      A’s Right and Obligations

     

    
      	
              1.

            	
              Party
                A shall have the right to: 

            

    

     

    
      	 	
              (1)

            	
              require
                Party B to advance the loan according to this
                Contract.

            

    

     

    
      	 	
              (2)

            	
              use
                the loan for the purpose provided in this
                Contract.

            

    

     

    
      	 	
              (3)

            	
              apply
                to Party B for an extension of the loan if Party A satisfies the
                conditions required by Party B.

            

    

     

    
      	 	
              (4)

            	
              require
                Party B to keep confidential relevant accounting information and
                production and operation related trade secrets provided by Party
                A, unless
                otherwise provided for by laws, regulations and
                rules.

            

    

     

    
      	
              2.

            	
              Party
                A shall be obligated:

            

    

     

    
      	 	
              (1)

            	
              to
                provide relevant financial and accounting materials, information
                on
                production and operation conditions as requested by Party B and be
                responsible for the truthfulness, completeness and validity of the
                materials so provided, including without limited to, provide Party
                B
                within the first 15
                bank business days of the first month of every quarter with the balance
                sheet and loss and profit statement (income and expenditure statement
                for
                government sponsored institute) at the end of last quarter and provide
                at
                the end of every year cash flow statement of the current
                year;

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (2)

            	
              to
                use the loan for the purpose provided in this Contract without
                misappropriating or embezzling the money
                borrowed;

            

    

     

    
      	 	
              (3)

            	
              to
                actively cooperate with and voluntarily accept Party B’s inspection of and
                supervision over its production and operation and financial activities
                as
                well as the use of the money borrowed
                hereunder.

            

    

     

    
      	 	
              (4)

            	
              to
                repay the principal and interest of the loan in a timely manner according
                to this Contract.

            

    

     

    
      	 	
              (5)

            	
              Party
                A and its investors shall not spirit its money away or transfer its
                assets
                to escape debts owing to Party B;

            

    

     

    
      	 	
              (6)

            	
              not
                to use the assets generating from the loan hereunder to provide security
                for a third party without Party B’s consent before its full repayment of
                the interest and principal owing to Party
                B;

            

    

     

    
      	 	
              (7)

            	
              to
                give Party B a prior written notice and obtain Party B’s consent if Party
                A intends to provide security for the debts of others during the
                valid
                term of this Contract, which may affect its ability to repay the
                loan
                hereunder;

            

    

     

    
      	 	
              (8)

            	
              to
                promptly provide other security as acceptable to Party B if the guarantor
                hereunder is winding-up, closed, deregistered, revoked its business
                license, bankrupt, revoked, suffering from losses, partly or wholly
                deprived of corresponding ability to secure the loan hereunder, or
                the
                collateral or property pledged to secure the loan hereunder decreases
                in
                value or accidentally is damaged or
                lost;

            

    

     

    
      	 	
              (9)

            	
              to
                promptly notify Party B of any change in its name, legal representative
                (person in charge), domicile, business scope or registered capital
                during
                the valid term of this Contract.

            

    

     

    
      	 	
              (10)

            	
              to
                give Party B a 30
                days prior written notice, obtain Party B’s consent and arrange for the
                satisfaction of and security for the debts hereunder as requested
                by Party
                B if Party A commits any of the following during the valid term of
                this
                Contract: contracting, lease, reform with the stock system, association,
                merger, acquisition, division, joint venture, application for suspending
                business for internal rectification, application for dissolution
                or
                bankruptcy, which will definitely affect Party B’s realization of its
                rights as a creditor of the loan;

            

    

     

    
      	 	
              (11)

            	
              to
                promptly notify Party B in writing and arrange for the satisfaction
                of and
                security for the debts hereunder as requested by Party B if Party
                A is
                winding-up, closed, deregistered, revoked its business license, or
                its
                legal representative or person in charge is engaged in illegal activities
                or involved in serious litigation, or it experiences severe difficulties
                in its production and operation or its financial conditions deteriorate
                significantly during the valid term of this Contract, which materially
                and
                adversely affects its performance of obligations to repay the loan
                hereunder;

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (12)

            	
              to
                bear all expenses with respect to this Contract and the security
                hereunder, such as legal fees, insurance, assessment, registration,
                custody, appraisal and notarization expenses.

            

    

     

    Article
      9 Party
      B’s Rights and Obligations

     

    
      	
              1.

            	
              Party
                B shall have the right to:

            

    

     

    
      	 	
              (1)

            	
              learn
                the production, operation and financial activities of Party A and
                require
                Party A to provide relevant documents, such as plan statistics, financial
                and accounting statements;

            

    

     

    
      	 	
              (2)

            	
              deduct
                and transfer from the account opened by Party A at China Construction
                Bank’s system any amount in any currency owing to Party B and payable
                by
                Party A under this Contract. 

            

    

     

    
      	
              2.

            	
              Party
                B shall be obligated to:

            

    

     

    
      	 	
              (1)

            	
              advance
                the loan fully and in a timely manner as provided for in this Contract,
                except for any delay due to the reasons attributable to Party
                A;

            

    

     

    
      	 	
              (2)

            	
              keep
                confidential financial materials and production and operation related
                trade secrets provided by Party A, unless otherwise provided for
                by laws,
                regulations and rules.

            

    

     

    Article
      10 Liability
      for Breach of Contract

     

    
      	
              1.

            	
              Event
                of Default

            

    

     

    
      	 	
              (1)

            	
              Party
                A’s Event of Default

            

    

     

    
      	 	
              i.

            	
              it
                fails to provide true, complete and valid financial and accounting
                materials, production and operation conditions and other relevant
                materials as requested by Party B;

            

    

     

    
      	 	
              ii.

            	
              it
                fails to use the loan for the purpose agreed by the two
                Parties;

            

    

     

    
      	 	
              iii.

            	
              it
                fails to repay the principal and interest in a timely
                manner;

            

    

     

    
      	 	
              iv.

            	
              it
                refuses or prevents Party B from supervising and inspecting the use
                of the
                loan;

            

    

     

    
      	 	
              v.

            	
              it
                transfers its assets or spirits its money away to escape
                debts.

            

    

     

    
      	 	
              vi.

            	
              its
                operation and financial conditions deteriorate, it is unable to repay
                debts when due, or is involved or will be involved in material litigation,
                arbitration proceeding, or other legal dispute, which, in the opinion
                of
                Party B, may affect or has affected or impaired Party B’s rights and
                interests hereunder;

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	 	
              vii.

            	
              it
                incurs any other indebtedness which has affected or may affect its
                performance of the obligations hereunder to Party
                B;

            

    

     

    
      	 	
              viii.

            	
              it
                fails to discharge other debts owing to China Construction
                Bank;

            

    

     

    
      	 	
              ix.

            	
              it
                commits any of the followings during the valid term of this Contract:
                contracting, lease, merger, acquisition, joint venture, division,
                association, reform with the stock system and other acts that change
                its
                operation manner or operation system, which, in the opinion of Party
                B,
                may affect or has affected or impaired Party B’s rights and interests
                hereunder;

            

    

     

    
      	 	
              x.

            	
              other
                circumstances under which the realization of creditor’s rights will, in
                the opinion of Party B, definitely be
                affected;

            

    

     

    
      	 	
              xi.

            	
              it
                is in breach of other obligations provided in this
                Contract.

            

    

     

    
      	 	
              (2)

            	
              Party
                A shall be deemed to be in default if the guarantor falls into any
                of the
                following circumstances and Party A fails to provide new security
                as
                required by Party B:

            

    

     

    
      	
            	i.	
              contracting,
                lease, merger and acquisition, joint venture, division, association,
                reform with the stock system, bankruptcy or revocation, which will
                definitely affect the guarantor’s joint and several liabilities
                hereunder;

            

    

     

    
      	
            	ii.	
              the
                guarantor provides a third party with guarantee beyond its
                capability;

            

    

     

    
      	
            	iii.	
              the
                guarantor is deprived or may be deprived of its ability to guarantee
                the
                loan;

            

    

     

    
      	
            	iv.	
              other
                events of default of the guarantor provided for in the guarantee
                contract.
                

            

    

     

    
      	 	
              (3)

            	
              Party
                A shall be deemed to be in default if the mortgagor falls into any
                of the
                following circumstances and Party A fails to provide new security
                as
                required by Party B:

            

    

     

    
      	
            	i.	
              the
                mortgagor fails to purchase and maintain a property insurance for
                the
                collateral as required by Party B or fails to take care of the insurance
                indemnity according to the mortgage contract after insurance accident
                occurs;

            

    

     

    
      	
            	ii.	
              the
                mortgagor fails to take care of the damages according to the mortgage
                contract when the collateral is damaged, lost or decreased in value
                as a
                result of a third party’s action;

            

    

     

    
      	
            	iii.	
              the
                mortgagor donates, transfers, leases, mortgages repeatedly, removes
                or
                otherwise disposes of the collateral without Party B’s written
                consent;

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	
            	iv.	
              the
                mortgagor fails to take care of the proceeds from the disposal of
                the
                collateral according to the mortgage contract after the mortgagor
                disposes
                of the collateral upon Party B’s
                consent;

            

    

     

    
      	
            	v.	
              the
                mortgagor fails to timely restore the value of the collateral or
                fails to
                provide other security as acceptable to Party B if the collateral
                is
                damaged, lost or decreased in value which will definitely affect
                the
                discharge of the debt hereunder;

            

    

     

    
      	
            	vi.	
              other
                events of default of the mortgagor provided for in the mortgagor
                contract.
                

            

    

     

    
      	 	
              (4)

            	
              Party
                A shall be deemed to be in default if the pledgor falls into any
                of the
                following circumstances and Party A fails to provide new security
                as
                required by Party B:

            

    

     

    
      	
            	i.	
              the
                pledgor fails to purchase and maintain a property insurance for the
                collateral as required by Party B or fails to take care of the insurance
                indemnity according to the pledge contract after insurance accident
                occurs;

            

    

     

    
      	
            	ii.	
              the
                pledgor fails to take care of the damages according to the pledge
                contract
                when the collateral is damaged, lost or decreased in value as a result
                of
                a third party’s action;

            

    

     

    
      	
            	iii.	
              the
                pledgor fails to take care of the proceeds from the disposal of the
                collateral according to the pledge contract after the pledgor disposes
                of
                the collateral upon Party B’s
                consent;

            

    

     

    
      	
            	iv.	
              the
                pledgor fails to timely restore the value of the collateral or fails
                to
                provide other security as acceptable to Party B if the collateral
                is
                damaged, lost or decreased in value which will definitely affect
                the
                discharge of the principal and interest
                hereunder;

            

    

     

    
      	
            	v.	
              other
                events of default of the pledgor provided for in the pledge contract.
                

            

    

     

    
      	 	
              (5)

            	
              Party
                A shall be deemed to be in default if the security contract or other
                form
                of security does not take effect or is invalid or revoked, the guarantor
                falls into other circumstance under which it is partly or wholly
                deprived
                of its ability to secure the loan, or the guarantor refuses to perform
                its
                guarantee obligations and Party A fails to provide new security
                therefor.

            

    

     

    2. Remedial
      Measures

     

    Upon
      the
      occurrence of any of the events of default set forth in paragraph (1) to
      paragraph (5) hereinabove, Party B shall be entitled to one or more of the
      following rights:

     

    
      	 	
              (1)

            	
              to
                stop the advance of the loan, declare the immediate maturity of the
                loan
                and require Party A to repay all principal, interest and expenses
                hereunder whether or not due and
                payable.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (2)

            	
              to
                collect liquidated damages from Party A on the principal amount of
                the
                loan hereunder at [intentionally
                left blank] ‰.

            

    

     

    
      	 	
              (3)

            	
              to
                impose interest and compound interest on the part of the loan
                misappropriated by Party A at the penalty interest rate from the
                date the
                loan is not used for the purpose provided herein to the date the
                principal
                and interest are repaid in full and pursuant to the method of settlement
                of interest provided herein if Party A fails to use the loan for
                the
                purpose provided herein. 

            

    

     

    
      	 	
              (4)

            	
              to
                impose compound interest on any overdue interest payable by Party
                A at the
                interest rate and according to the method of settlement of interest
                set
                forth in Article 4 hereof before the maturity of the
                loan.

            

    

     

    
      	
            	(5)	
              if
                the loan is overdue, to impose interest and compound interest on
                the
                outstanding principal and interest payable by Party A (including
                the
                principal and interest declared by Party B to be wholly or partly
                due and
                payable) at the penalty interest rate from the date the loan is overdue
                to
                the date the principal and interest are repaid in full and according
                to
                the method of settlement of interest provided herein. The overdue
                loan
                refers to Party A’s failure to repay the loan in a timely manner or its
                repayment of the loan behind the repayment schedule set forth in
                this
                Contract.  

            

    

     

    
      	 	
              (6)

            	
              to
                transfer and receive any amount in any currency from the account
                opened by
                Party A at China Construction Bank’s
                system.

            

    

     

    
      	 	
              (7)

            	
              to
                require Party A to provide such new security as required by Party
                B for
                all debts hereunder. 

            

    

     

    
      	 	
              (8)

            	
              to
                exercise rights under the security.

            

    

     

    
      	 	
              (9)

            	
              to
                terminate this Contract.

            

    

     

    Article
      11 Other
      Matters Agreed

     

    
      
        	
                1.

              	
                [intentionally
                  left blank]

              	
                ;

              
	 	 	 
	
                2.

              	
                [intentionally
                  left blank]

              	
                ;

              
	 	 	 
	
                3.

              	
                [intentionally
                  left blank]

              	
                ;

              
	 	 	 
	
                4.

              	
                [intentionally
                  left blank]

              	
                .

              

      

    

     

    Article
      12 Settlement
      of Dispute

     

    Any
      dispute arising from the performance of this Contract may be settled through
      negotiation. If no settlement could be reached, the dispute shall be dealt
      with
      according to (1)
      below:

     

    (1) to
      bring
      a lawsuit at the People’s Court where Party B’s domicile is located;
      or

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	
              (2)

            	
              to
                submit the dispute to [intentionally
                left blank]
                Arbitration Commission (the place of arbitration is [intentionally
                left blank])
                for arbitration according to its arbitration rules then effective
                at the
                time of submission. The arbitration award shall be final and binding
                on
                the two Parties.

            

    

     

    In
      the
      course of lawsuit or arbitration, the Parties shall continue to perform those
      provisions in this Contract which are not under dispute.

     

    Article
      13 Effectiveness
      of this Contract

     

    This
      Contract shall become effective after it is signed by Party A’s legal
      representative (person in charge) or authorized representative and stamped
      with
      its corporate seal and signed by Party B’s person in charge or authorized
      representative and stamped with its corporate seal.

     

    Article
      14 This
      Contract shall be made in five
      counterparts.

     

    Article
      15 Representations

     

    
      	
              1.

            	
              Party
                A is fully aware of Party B’s business scope and scope of
                authority.

            

    

     

    
      	
              2.

            	
              Party
                A has perused each clause in this Contract. As requested by Party
                A, Party
                B has explained correspondingly clauses in this Contract. Party A
                is fully
                aware of and understands the meaning and corresponding legal consequences
                of each clause in this Contract.

            

    

     

    
      	3.	
              Party
                A has the right to sign this Contract.

            

    

     

    Party
      A
      (corporate seal): Beijing Origin Seed Limited.

     

    Legal
      representative (person in charge) or authorized representative (signature):
      

     

    /s/
      Gengchen Han

     

    /s/
      CORPORATE SEAL

     

    July
      6,
      2007

     

    Party
      B
      (corporate seal): China Construction Bank Corporation Beijing Shangdi
      Sub-Branch

     

    Legal
      representative (person in charge) or authorized representative (signature):
      

     

    /s/
      Qi
      Xue

     

    /s/
      CORPORATE SEAL

     

    July
      6,
      2007

     

    
      
        
        

      

      
        12EXHIBIT
        4.39

    

     

    Mortgage
      Contract

     

    China
      Construction Bank Corporation 

     

    Beijing
      Branch

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Contract
      No.: Year 2007 Zi 123010 No. 012

     

    Mortgagor
      (Party A): Changchun Origin Seed Limited

     

    Domicile:
      1196 Pingxin Road, High-tech District, Changchun  Postal Code:
      130022

     

    Legal
      Representative (person in charge): Gengchen Han

     

    Fax:
      0431-87020800      
      Telephone: 0431-87020800

     

    Mortgagee
      (Party B): China Construction Bank Corporation Beijing Shangdi
      Sub-Branch

     

    Domicile:
      28 Shangdi Xinxi Road, Haidian District, Beijing Postal
      Code: 100085

     

    Legal
      Representative (person in charge): Qi Xue

     

    Fax:
      62967190       Telephone:
      62967190

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    Mortgagor
      (hereinafter referred to as “Party A”): Changchun
      Origin Seed Limited.

     

    Mortgagee
      (hereinafter referred to as “Party B”): China
      Construction Bank Corporation Beijing Shangdi Sub-Branch

     

    In
      order
      to ensure the execution of the “Renminbi
      Capital Loan Contract”
      (hereinafter referred to as the “Master Contract”) between Beijing
      Origin Seed Limited.
      (hereinafter referred to as the “Debtor”) and Party B (contract no.: Year 2007
      Zi 123010 No. 012) and the realization of creditor’s right of Party B, Party A
      desires to provide mortgage to secure the creditor’s right formed under the
      Master Contract between Party B and the Debtor. According to relevant laws,
      regulations and rules, Party A and Party B, upon negotiation, enter into this
      Contract for their mutual compliance and performance. 

     

    Article
      1  Collateral
      

     

    Party
      A
      creates a mortgage on the property described in the “Collateral Schedule”
provided in Article 16 of this Contract.

     

    Party
      A
      undertakes that it has the ownership of or the right to dispose of the
      collateral according to the laws.

     

    Party
      A
      undertakes that the collateral is not subject to any ownership dispute,
      attachment or seizure.

     

    Article
      2  Scope
      of
      Security

     

    The
      principal amount of (Say) NINE
      MILLION YUAN
      in
Renminbi
      (currency) and interest (including compound interest and penalty interest),
      liquidated damages, indemnity, relevant expenses prepaid by Party B and all
      expenses incurred from Party B’s realization of the creditor’s right and
      mortgage (including, but not limited to, litigation costs, arbitration costs,
      attachment costs, traveling expenses, execution expenses, assessment fees,
      auction fees).

     

    If
      the Debtor fails to fulfill its obligations under the Master Contract, Party
      B
      shall have the right to require Party A directly to undertake its liability
      within the scope of security, regardless of any other security (including,
      but
      not limited to, guarantee, mortgage, pledge, letter of guarantee or standby
      letter of credit) Party B may have with respect to the creditor’s right under
      the Master Contract.

     

    Article
      3  Term
      of
      Mortgage

     

    The
      mortgage shall continue for two years after the date the limitation of actions
      with respect to the secured creditor’s right expires.

     

    Article
      4  Changes
      to the Secured Master Contract 

     

    Party
      A acknowledges that Party A’s prior consent shall be deemed to have been
      obtained if Party B and the Debtor make changes to the clauses of the Master
      Contract by agreement and Party A’s liability of guarantee shall not be reduced
      or exempted, except for the following two circumstances:

     

    (1) extension
      of the term for fulfilling its obligations;

     

    (2) increase
      of the principal amount under the creditor’s right.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    Article
      5  Independency

     

    This
      Contract shall be independent of the Master Contract in terms of its validity
      and not be affected by the invalidity of the Master Contract. If the Master
      Contract is determined to be invalid, then Party A shall still hold liable
      for
      the debt of the Debtor with the collateral, which debt may arise from
      restitution of property or compensation for losses.

     

    Article
      6  Custody
      of the Collateral

     

    As
      long
      as the mortgage continues to exist, Party A shall be obligated to take proper
      care of the collateral, prevent it from being damaged and accept Party B’s
      inspection from time to time. In case of any damage to or loss of the collateral
      or other circumstances under which the collateral is obviously decreased in
      value, Party B shall be notified promptly and provided other security equivalent
      in value to any shortage in the collateral within 20
      bank
      business days.

     

    Article
      7  Insurance
      of the Collateral

     

    As
      long
      as the mortgage continues to exist, Party A shall take a property insurance
      for
      the collateral with such insurance type and insured amount as designated by
      Party B and required by relevant laws. The insurance term shall be [blank]
      months
      longer than the term required for the performance of the Master Contract. During
      the insurance term, Party A shall not suspend or revoke the insurance for any
      reasons whatsoever.

     

    As
      long
      as the mortgage continues to exist, the original insurance policy shall be
      kept
      by Party B.

     

    Party
      A
      shall require the insurer to identify in the insurance policy that Party B
      is
      the preferred payee (i.e., the first beneficiary) of the insurance. In case
      of
      insurance accident, the insurer shall directly remit the insurance indemnity
      to
      an account designated by Party B. If the collateral has been insured already
      without identifying Party B as a preferred payee, the preferred payee shall
      be
      changed to Party B. 

     

    Party
      A
      agrees that Party B may select any of the following methods to handle the
      insurance indemnity and will assist Party B in completing relevant
      procedures:

     

    
      	
              (1)

            	
              to
                pay off or pay off in advance the principal and interest and relevant
                expenses under the Master Contract;

            

    

     

    
      	
              (2)

            	
              to
                convert it into a fixed-term deposit and pledge the certificate of
                deposit;

            

    

     

    
      	
              (3)

            	
              to
                use it to repair the collateral and restore its value upon Party
                B’s
                consent;

            

    

     

    
      	
              (4)

            	
              to
                submit it to a third party designated by Party
                B;

            

    

     

    
      	
              (5)

            	
              to
                dispose of it at Party B’s own discretion after Party A provides new
                security as required by Party B.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

      
        Article
          8  Third
          Party’s Damages

         

        As
          long
          as the mortgage continues to exist, the damages shall be deposited into
          an
          account designated by Party B if the collateral is decreased in value as
          a
          result of a third party’s acts. Party A agrees that Party B may select any of
          the following methods to handle the damages and will assist Party B in
          completing relevant procedures:

         

      

    

    
      	
              (1)

            	
              to
                pay off or pay off in advance the principal and interest and relevant
                expenses under the Master Contract;

            

    

     

    
      	
              (2)

            	
              to
                convert it into a fixed-term deposit and pledge the certificate of
                deposit;

            

    

     

    
      	
              (3)

            	
              to
                use it to repair the collateral and restore its value upon Party
                B’s
                consent;

            

    

     

    
      	
              (4)

            	
              to
                submit it to a third party designated by Party
                B;

            

    

     

    
      	
              (5)

            	
              to
                dispose of the damages at Party B’s own discretion after Party A provides
                new security as required by Party
                B.

            

    

     

    As
      long
      as the mortgage continues to exist, Party A shall provide new security
      acceptable to Party B if the collateral is not enough in value to pay off the
      principal and interest and relevant expenses under the Master Contract as a
      result of a third party’s acts. Any portion of the collateral that is not
      decreased in value shall still be used to secure the creditor’s
      right.

     

    Article
      9  Disposal
      of the Collateral

     

    
      	
              1.

            	
              As
                long as the mortgage continues to exist, Party A shall not donate,
                transfer, lease, mortgage repeatedly, remove or otherwise dispose
                of the
                collateral under this Contract without Party B’s written
                consent.

            

    

     

    
      	
              2.

            	
              As
                long as the mortgage continues to exist, Party A shall obtain Party
                B’s
                written consent in advance of its disposal of the collateral. Party
                A
                agrees that Party B shall have the right to select any of the following
                methods to handle the proceeds from the disposal of the
                collateral:

            

    

     

    
      	 	
              (1)

            	
              to
                pay off or pay off in advance the principal and interest and relevant
                expenses under the Master Contract;

            

    

     

    
      	 	
              (2)

            	
              to
                convert them into fixed-term deposit and pledge the certificate of
                deposit;

            

    

     

    
      	 	
              (3)

            	
              to
                submit them to a third party designated by Party
                B;

            

    

     

    
      	 	
              (4)

            	
              to
                dispose of the proceeds at Party B’s own discretion after Party A provides
                new security as required by Party
                B.

            

    

     

    Article
      10  Realization
      of the Mortgage

     

    Party
      A
      agrees that Party B shall have the right to duly sell the collateral by action,
      sell off the collateral, or convert the collateral into money upon agreement,
      if:

     

    
      	
              (1)

            	
              Party
                B has not been paid when the term for discharging all or part of
                the
                principal or interest under the Master Contract
                expires;

            

    

     

    
      	
              (2)

            	
              other
                circumstances under which Party B may realize its creditor’s right in
                advance under the Master Contract.

            

    

     

    Article
      11  Breach
      of
      Contract and its Handling

     

    As
      long
      as the mortgage continues to exist, Party B shall have the right to require
      Party A to rectify its breach, provide corresponding security and indemnify
      Party B against losses within a limited period and to dispose of the collateral
      in advance if Party A is in breach of Article 1, Article 6, Article 7, Article
      8
      or Article 9 hereunder.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    
      Party
        A
        agrees that Party B shall have the right to select any of the following methods
        to handle the proceeds from the disposal of the collateral:

       

    

    (1) to
      pay
      off or pay off in advance the principal and interest and relevant expenses
      under
      the Master Contract;

     

    (2) to
      convert them into fixed-term deposit and pledge the certificate of
      deposit;

     

    (3) to
      submit
      them to a third party designated by Party B;

     

    (4) to
      dispose of the proceeds at Party B’s own discretion after Party A provides new
      security as required by Party B.

     

    Article
      12  Registration
      and Revocation of the Collateral

     

    If
      the
      collateral shall be registered according to the laws, the two Parties shall
      complete the registration of the collateral with appropriate registration
      department upon the execution of this Contract. Party A shall, as of the date
      of
      this Contract, submit to Party B the certificate of encumbrance, original
      mortgage registration document and other right certificates with respect to
      the
      collateral.

     

    When
      all
      debts under the Master Contract and this Contract are paid off, Party B shall
      promptly cancel the registration of the mortgage together with Party
      A.

     

    Article
      13  Expenses

     

    Expenses
      with respect to assessment, notarization, insurance, registration, appraisal,
      custody and submission hereunder shall be borne by Party A.

     

    Article
      14  Other
      terms agreed by the two Parties:

     

    
      	
              1.

            	
              The
                Mortgagor is fully aware of the risks associated with the interest
                rate.
                If the floating interest rate is applied to the Master Contract,
                the
                Mortgagor is willing to assume such additional liability as may be
                increased due to the floating interest
                rate;

            

    

     

    
      	
              2.

            	
              [intentionally
                left blank]_______________________________________________;

            

    

     

    
      	3.	
              [intentionally
                left blank]_______________________________________________.

            

    

     

    Article
      15  Settlement
      of Dispute

     

    Any
      dispute arising from the performance of this Contract may be settled through
      negotiation. If no settlement could be reached, the dispute shall be dealt
      with
      according to (1) below:

     

    
      	(1)	
              to
                bring a lawsuit to the People’s Court where Party B is located;
                or

            

    

     

     

    
      	
              (2)

            	
              to
                submit the dispute to [intentionally
                left blank]
                Arbitration Commission (the place of arbitration is [intentionally
                left blank])
                for arbitration according to its arbitration rules then effective
                at the
                time of submission. The arbitration award shall be final and binding
                on
                the two Parties.

            

    

     

    In
      the
      course of lawsuit or arbitration, the Parties shall continue to perform those
      provisions in this Contract which are not under dispute.

    
       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

    

    Article
      16  Collateral
      Schedule

     

    The
      collateral schedule is as follows:

     

    Collateral
      Schedule

     

    
      	
              Name
                of the Collateral

            	 	
              Title
                Certificate and No.

            	 	
               

              Domicile

            	 	
              Value
                Indicated in the Invoice of the Collateral (yuan)

            	 	
              Assessed
                Value of the Collateral (yuan)

            	 	
              Amount
                of Mortgage Created for Other Creditor’s Right

              (yuan)

            	 	
               

              Remarks

            
	
              Land

            	 	
              Chang
                Guo Yong ( 2007 ) No.091000777

            	 	
              1196
                Pingxin Road, High-tech District, Changchun

            	 	
              [blank]

            	 	
              16,672,600

            	 	
              7,000,000

            	 	 
	
              Building

            	 	
              Chang
                Fang Quan Zi No.10901742

            	 	
              1196
                Pingxin Road, High-tech District, Changchun

            	 	 	 	
              7,551,800

            	 	
              2,000,000

            	 	
              9,000,000

            
	
              Building

            	 	
              Chang
                Fang Quan Zi No.10901743

            	 	
              1196
                Pingxin Road, High-tech District, Changchun

            	 	 	 	
              645,200

            	 	 	 	 
	
              [blank]

            	 	
              [blank]

            	 	
              [blank]

            	 	
              [blank]

            	 	
              [blank]

            	 	
              [blank]

            	 	
              [blank]

            

    

     

    Article
      17  This
      Contract shall become effective upon the satisfaction of the following
      conditions:

     

    
      	
              1.

            	
              This
                Contract is signed by Party A’s legal representative (person in charge) or
                authorized representative or stamped with its corporate seal (if
                Party A
                is a natural person, then only signature is required) and signed
                by Party
                B’s person in charge or authorized representative and stamped with
                its
                corporate seal.

            

    

     

    
      	
              2.

            	
              The
                collateral described in the “Collateral Schedule” hereunder is duly
                registered according to the laws if so
                required.

            

    

     

    Article
      18  This
      Contract shall be made in four
      counterparts.

     

    Article
      19  Representations

     

    
      	
              1.

            	
              Party
                A is fully aware of Party B’s business scope and scope of
                authority.

            

    

     

    
      	
              2.

            	
              Party
                B has perused each clause in this Contract, especially clauses in
                bold. As
                requested by Party A, Party B has explained correspondingly clauses
                in
                this Contract. Party A is fully aware of and understands the meaning
                and
                corresponding legal consequences of each clause in this
                Contract.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    
      	
              3.

            	
              Party
                A has the right to sign this Contract.

            

    

     

     

    
      	
              Party
                A (corporate
                seal): Changchun Origin Seed Limited   

            
	 
	
              Legal
                representative (person in charge) or
                authorized representative (signature): 

            
	 	 	 	 
	/s/
              Gengchen
              Han	 	 	 
	 	 	 	 
	/s/ CORPORATE
              SEAL	 	 	
            
	 	 	 	 
	July
              6,
              2007	 	 	 

    

     

    
      	 
	Party
              B (corporate seal): China Construction Bank Corporation Beijing Shangdi
              Sub-Branch   
	 
	Legal representative (person
              in
              charge) or authorized representative (signature): 
	 	 	 	 
	
              /s/
                Qi Xue

            	 	 	 
	 	 	 	 
	
              /s/
                CORPORATE SEAL

            	 	 	
            
	 	 	 	 
	July
              6,
              2007	 	 	 

    

     

    
      
        
        

      

      
        7

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