Document:

Unassociated Document

     

    Summary
Translation of

    Loan
Agreement (Renminbi)

    

    Note:  This
is not a comprehensive translation.

    

    Borrower
(“Party A”): Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd.

    Legal
Representative : Wu Zishen

    

    Lender
(“Party B”): Hohhot Branch of China Citic Bank

    Legal
Representative: Sun Xiaofan

    

    Location
of Execution: Hohhot City

    

    Date of
Execution: October 9, 2009

    

    

    Article I
Type of Loan

    
      	
              1.1

            	
              Short
      Term Loan

            

    

    

    Article
II Amount and Term of Loan

    
      	
              2.1

            	
              The
      amount of loan under this agreement is
  RMB20,000,000.

            

    

    
      
        	
                2.2

              	
                The
      term of loan under this agreement is commencing October 9, 2009 to
      September 26, 2010.

              

      

    

    

    
      Article
III Purpose of Loan

    

    
      
        	
                3.1

              	
                The
      purpose of loan under this agreement is for raw materials for productions.
      Without the written consent of Party B, Party A shall not change the
      purpose of loan.

              

      

    

    

    
      Article
IV Interest Rate and Interest of Loan

    

    
      
        	
                4.1

              	
                The
      interest rate under this agreement is the benchmark rate of the People’s
      Bank of China as of the execution date of this agreement, with the
      corresponding term of the loan under the agreement; it means that the
      interest rate under this agreement is
5.31%.

              

      

    

    
      
        	
                4.2

              	
                The
      interest rate of the loan under this agreement is fixed within the term of
      loan.

              

      

    

    
      
        	
                4.3

              	
                Formula
      of Interest Calculation: Commencing the actual drawdown date, the formula
      of interest calculation is as
below:

              

      

    

    Interest
Rate=Actual Outstanding Balance of Loan x Actual Days of Interest Calculation
Period x Yearly Interest Rate/ 360 days

    
      
        	
                4.4

              	
                In
      case the Loan is not repaid in the principal and interests once in whole,
      the first interest settlement date is October 20, 2009. The interest is
      calculated monthly, the interest settlement date is the 20th
      day of every month.

              

      

    

    

    
      Article
VI Repayment

    

    
      
        	
                6.1

              	
                The
      loan under this agreement shall be repaid in the manner as
      below:

              

      

    

    The
interest: periodically; the principal: repay upon the maturity of the
loan

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        	
                6.4

              	
                In
      the event Party A needs to prepay the loan prior to its maturity, it shall
      prepare a irrevocable prepayment plan and submit such plan to Party B in
      writing, within 30 days prior to the planned prepayment day, and obtained
      the written consent of Party
B.

              

      

    

    

    
      Article
VII Extension of Loan

    

    
      
        	
                7.1

              	
                Party
      A shall submit an advanced 30-day written notice to Party B to request the
      extension of loan and shall obtain the written consent of Party
      B.

              

      

    

    

    
      Article
VIII Mortgage of Loan

    

    
      
        	
                8.1

              	
                The
      loan under this agreement is mortgaged by the mortgage agreement by and
      Between the mortgagor and Party
B.

              

      

    

    

    
      Article
IX Representations and Warranties of Party A

    

    
      
        	
                9.1

              	
                It
      is legally incorporated under the laws of the People’s Republic of China
      and has right and ability to execute and perform this agreement; Party A
      obtained all of the necessary internal and external approvals and
      permissions with regard to executing and performing the
      agreement;

              

      

    

    
      
        	
                9.2

              	
                All
      of the documents, financials, certificates and other information provided
      by Party A to Party B under this agreement are true, accurate, legal and
      valid.

              

      

    

    

    
      Article X
Rights and Obligations of Party A

    

    
      
        	
                10.1

              	
                Party
      A shall draw down and execute the loan in accordance with the agreed
      schedule and purpose set forth in the
Agreement.

              

      

    

    
      
        	
                10.2

              	
                Party
      A shall repay the interest and the principal of loan in accordance with
      the agreed schedule set forth in the
Agreement.

              

      

    

    
      
        	
                10.3

              	
                Party
      A shall provide the authentic, accurate financial information and other
      documents as requested by Party
B.

              

      

    

    
      
        	
                10.4

              	
                Shall
      Party A carry out conversion to share-holding system, re-organization,
      merger, split, co-operating business, joint venture, change in
      share-holding and other actions could affect the material change in regard
      to the management and operation of Party A, and may affect rights and
      interests of Party B hereunder, it shall send the 30-day written notice to
      Party B and obtain its written
consent.

              

      

    

    
      
        	
                10.5

              	
                Party
      A shall cooperate with the inspection and examination of Party
      B.

              

      

    

    
      
        	
                10.6

              	
                Without
      Party B’s prior written consent, Party A shall not transfer any debt
      obligations under this
agreement.

              

      

    

    
      
        	
                10.7

              	
                Party
      A shall submit an advanced 30-day written notice and obtained Party B’s
      written consent, in the event Party A transfers or leases the debt
      obligations under the agreement or dispose of its materials
      assets.

              

      

    

    
      
        	
                10.8

              	
                Party
      A shall notify Party B in writing within 3 days upon the occurrence or
      possible occurrence of the non-performance of this agreement, including
      but not limited to suspension of business, cessation of operations,
      dissolution, bankruptcy the decrease of the value of the collaterals under
      this agreement.

              

      

    

    

    
      Article
XI Rights and Obligations of Party B

    

    
      
        	
                11.1

              	
                Party
      B is entitle to inspect the operation of Party A and the use of
      loan.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    
      
        	
                11.2

              	
                Party
      B is entitled to claim for the deficiency after Party B dispose of the
      collaterals to set off the debts under this
  agreement.

              

      

    

    
      
        	
                11.3

              	
                Party
      B shall issue the loan if Party A fulfills all of the obligations under
      this agreement.

              

      

    

    
      
        	
                11.4

              	
                Party
      B is entitled to request Party A to provide all of the necessary documents
      in regard to the review of the loan, an shall comply with its confidential
      obligations to the business, financial and production materials provided
      by Party A.

              

      

    

    

    
      Article
XII Breach Liability

    

    
      
        	
                12.1

              	
                In
      the event any party does not perform or partially perform its obligations
      under this agreement, it shall bear the breach
  liabilities.

              

      

    

    
      
        	
                12.2

              	
                Party
      B is entitled to receive the penalty calculated according to the interest
      rate set forth in the agreement and the deferral days, in the event Party
      A does not draw down the loan in accordance with the
      agreement.

              

      

    

    
      
        	
                12.3

              	
                Party
      A is entitled to receive the penalty calculated according to the interest
      rate set forth in the agreement and the deferral days, in the event Party
      B does not issue the loan in accordance with the
  agreement.

              

      

    

    
      
        	
                12.4

              	
                Party
      B is entitled to accelerate the principal an interest under the loan and
      set off the debts under this agreement by directly withdrawing the funds
      in the account Party A opened with Party B, if any of the following events
      occur:

              

      

    

    
      
        	
              	
                12.4.1

              	
                Party
      A does not repay the principal, interests and other payments in accordance
      with the agreement;

              

      

    

    
      
        	
              	
                12.4.2

              	
                Party
      A fails to perform any of its obligations under this
      agreement;

              

      

    

    
      
        	
              	
                12.4.3

              	
                Party
      A  provides Party B with false information, or omits material
      financial information;

              

      

    

    
      
        	
              	
                12.4.4

              	
                Party
      A ceases to repay the loan upon due or is unable or states that it is
      unable to repay debts;

              

      

    

    
      
        	
              	
                12.4.5

              	
                Party
      A cease its business, suspense its operation, bankruptcy, its business
      license is suspended or any lawsuits or legal proceedings that will have
      adverse effects;

              

      

    

    
      
        	
              	
                12.4.6

              	
                The
      business address or business scope of Party A changed and adversely affect
      Party B’s interests under this
agreement;

              

      

    

    
      
        	
              	
                12.4.7

              	
                The
      occurrence of the material financial loss or crisis of Party
      A;

              

      

    

    
      
        	
              	
                12.4.8

              	
                The
      financial situation and businesses of the controlling shareholders, or the
      affiliates of Party A have material
crisis;

              

      

    

    
      
        	
              	
                12.4.9

              	
                The
      industry of Party A has adverse
changes;

              

      

    

    
      
        	
              	
                12.4.10

              	
                Party
      A does not comply with the settlement or deposit procedures in accordance
      with the agreement;

              

      

    

    
      
        	
              	
                12.4.11

              	
                Party
      A change the purpose of the loan at its sole
  discretion;

              

      

    

    
      
        	
              	
                12.4.12

              	
                The
      management of Party A is suspected to commit material
      corruptions;

              

      

    

    
      
        	
              	
                12.4.13

              	
                Party
      A breach its other agreement entered with other
  creditors;

              

      

    

    
      
        	
              	
                12.4.14

              	
                The
      mortgagor of Party A breaches the mortgage
  agreement;

              

      

    

    
      
        	
              	
                12.4.15

              	
                Other
      events that may cause damages or losses of Party
  B;

              

      

    

    
      
        	
                12.5

              	
                Party
      B is entitled to the punitive interest calculated by the interest rate set
      forth in this agreement plus 50%, if any of the events set forth in
      Article 12.4 occurs.

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

    

    
      
        	
                12.6

              	
                In
      the event Party A is unable to pay the interest on schedule, Party B is
      entitled the punitive interest based on the punitive interest rate set
      forth in Article 12.5

              

      

    

    
      
        	
                12.7

              	
                In
      the event Party A does not use the loan in accordance with the purpose,
      the punitive interest rate is the interest rate set forth in the agreement
      plus 100%.

              

      

    

    

    
      Article
XVI Governing Law

    

    
      Governing
Law: the laws of People’s Republic of China

    

    

    
      Article
XVII Dispute Resolution

    

    Any
dispute arising from and in connection with this agreement shall be submitted to
the People’s Court

    

     

    Party A:
Inner Mongolia Yongye Nongfeng Biotechnology Co.,Ltd.

    Legal
Representative:    (with the signature and corporate
seal)

    

    

    Party B:
Hohhot Branch of China Citic Bank

    Legal
Representative:     (with the signature and corporate
seal)Unassociated Document

    Summary
Translation of Maximum Mortgage Contract

    

    Note:  This
is not a comprehensive translation.

    

    Mortgagor
(“Party A”): Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd.

    Legal
Representative : Wu Zishen

    

    Mortgagee
(“Party B”): Hohhot Branch of China Citic Bank

    Legal
Representative: Sun Xiaofan

    

    Location
of Execution: Hohhot City      Date of Execution:
October 9, 2009

    

    Article 1
Definition

    
      	
              1.1

            	
              The
      maximum mortgage is the maximum amount between Party A and Party B to
      ensure the multiple debts of the debtor continuously occurred in a certain
      period. Party A provides Party B with the mortgage within the maximum
      amount. The aforesaid maximum amount is the total outstanding balance of
      the debts (including the contingent debts) that debtor owed to Party
      B.

            

    

    

    Article 2
Principal Debts under Mortgage

    
      	
              2.1

            	
              The
      principal under the mortgage is a series debts occurred by Party B’s
      extending credit line to Party A commencing October 9, 2009 to October 9,
      2010. The maximum mortgage amount under this agreement is
      RMB20,000,000.

            

    

    

    Article 3
Collateral

    
      	
              3.1

            	
              The
      collateral Party A provided to Party B is the land and premises set forth
      in the Appendix “Collateral List”. The estimated current value of the
      collateral is RMB51,091,311, the percentage of the mortgage coverage is
      40%.

            

    

    

    Article
4  Scope of Collateral

    
      	
              4.1

            	
              The
      scope of collateral includes the principal, interest, penalty interest,
      compound interest, penalty, compensations, and expenses to exercise the
      rights to claim the debts, including but not limited to legal fees,
      appraisal fees, foreclosure fees and other
  expense.

            

    

    

    Article 5
Duration of Exercise Mortgage Rights

    
      	
              5.1

            	
              The
      exercise of the mortgage shall be within the statute of limitations of the
      principal debts.

            

    

    

    Article 6
Representations and Warranties of Party A

    
      	
              6.1

            	
              It
      is legally incorporated under the laws of the People’s Republic of China
      and has right and ability to execute and perform this agreement; Party A
      obtained all of the necessary internal and external approvals and
      permissions with regard to executing and performing the
      agreement.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              6.2

            	
              Party
      A owns full, valid, legal ownership or rights of disposition of the
      collateral under this agreement. No disputes existing in regard to the
      collateral under this agreement, and such collateral are not seized,
      monitored or mortgaged.

            

    

    
      	
              6.3

            	
              Party
      A fully understands and agrees with all of provisions set forth in the
      principal contract, and voluntarily provided the collateral for the
      debtor.

            

    

    
      	
              6.4

            	
              The
      mortgage shall not be under any limitations or cause any illegal
      circumstance.

            

    

    
      	
              6.5

            	
              All
      of the information of the collateral provided by Party A shall be true,
      legal, accurate and complete.

            

    

    
      	
              6.6

            	
              Party
      A warrants: in the event the debtor of the principal contract fails to
      fulfill the debt obligations or the events of realization of the mortgage
      right occurs, Party B may requests Party A bear the liability within the
      scope of mortgage, notwithstanding the debts under the principal contract
      is ensured by other collateral.

            

    

    

    Article 7
Rights and Obligations of Party A

    
      	
              7.1

            	
              Party
      A shall provide Party B with the certificate of collateral and other valid
      documents.

            

    

    
      	
              7.2

            	
              Party
      A shall notify Party B in writing within 30-days upon the occurrence of
      the events adversely affected Party B’s rights and interests of the
      mortgage rights, including but not limited to the occurrence of
      re-organization, merger, split, co-operating business, joint venture,
      change in share-holding and other actions could affect the material change
      in regard to the management and operation of Party
  A.

            

    

    
      	
              7.3

            	
              Party
      A shall send a 3-day written notice upon the occurrence of its cessation
      of business, dissolution, bankruptcy and other event may adversely affect
      Party A.

            

    

    
      	
              7.4

            	
              In
      the event the occurrence of Article 7.2 and 7.3, Party A shall bear all of
      the mortgage liabilities under this
agreement.

            

    

    
      	
              7.5.

            	
              Without
      prior written consent of the Party B, Party A shall not lease, transfer,
      re-mortgage, gift or entrust or dispose of the
  collateral.

            

    

    
      	
              7.6

            	
              Party
      A shall immediately inform Party B, in the event the collateral is seized,
      or other similar situations.

            

    

    
      	
              7.7

            	
              After
      the debtor repay the debts under the principal contract, Party A is
      entitled to cancel the mortgage under this
  agreement.

            

    

    
      	
              7.8

            	
              In
      the event Party A lease the collateral, it shall inform Party B prior to
      the execution of this agreement.

            

    

    

    Article 8
Rights and Obligations of Party B

    
      	
              8.1

            	
              Party
      B shall be entitled to dispose of this the collateral in the event the
      debtor does not fulfill its obligation to repay the debts when
      due.

            

    

    
      	
              8.2

            	
              In
      the event the proceeds of disposing of collateral is not adequate to repay
      the full debts, Party B is entitled to claim the deficiency to the
      debtor.

            

    

    
      	
              8.3

            	
              Party
      B shall assist Party A to cancel the registration of the collateral, when
      the debts are fully repaid.

            

    

    
      	
              8.4

            	
              Party
      B and the debtor under the principal contract agree to change the
      principal contract, except for extension and increase of the amount of the
      debts, such changes shall not require the consent of Party
    A.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article 9
Maintenance and Use of Collateral

    
      	
              9.1

            	
              Party
      A is obligated to maintain the
collateral.

            

    

    
      	
              9.2

            	
              In
      case the value of the collateral may decreases, Party A shall promptly
      notify Party B. Party A shall regain the value of the collateral as
      requested by Party B, or provide the corresponding collateral equal to the
      decrease of value.

            

    

    

    Article
12 Breach Liability

    
      	
              12.1

            	
              In
      the event any party does not perform or partially perform its obligations
      under this agreement, it shall bear the breach
  liabilities.

            

    

    
      	
              12.2

            	
              The
      representations and warranties made by Party A in Article 6 is untrue,
      inaccurate, or misleading and causes damages and losses to Party B, Party
      A shall compensate such damages and
losses.

            

    

    
      	
              12.3

            	
              In
      the event the agreement is void due to Party A’s negligence, Party A shall
      compensate Party B’s loss within the mortgage
  scope.

            

    

    
      	
              12.4

            	
              In
      the event the occurrence of any of the following events, Party B shall
      exercise the mortgage right. Party A is entitled to receive the penalty
      calculated according to the interest rate set forth in the agreement and
      the deferral days, in the event Party B does not issue the loan in
      accordance with the agreement.

            

    

    
      	
              12.4

            	
              Party
      B is entitled to accelerate the principal an interest under the loan and
      set off the debts under this agreement by directly withdrawing the funds
      in the account Party A opened with Party B, if any of the following events
      occur:

            

    

    
      	
              12.4.1

            	
              The
      principal debts become due and Party A is not
  repaid;

            

    

    
      	
              12.4.2

            	
              The
      debts of the principal contract become due prior to its maturity, and
      Party B is not repaid;

            

    

    
      	
              12.4.3

            	
              Party
      A ceases its business, suspends its operation, bankruptcy, or its business
      license is suspended;

            

    

    
      	
              12.4.4

            	
              Party
      A violates the obligations set forth in Article
  7.4;

            

    

    
      	
              12.4.5

            	
              Party
      A is unable to maintain a good condition of the collateral, or the
      situation under Article 9.2 occurs, and Party A refuses to provide
      collateral in accordance with Article
9.2;

            

    

    
      	
              12.4.6

            	
              Other
      events may cause damages and losses to Party
B;

            

    

    
      	
              12.4.7

            	
              Party
      A violates Article 7.10.

            

    

    

    Article
15 Governing Law

    Governing
Law: the laws of People’s Republic of China

    

    Article
16 Dispute Resolution

    Any
dispute arising from and in connection with this agreement shall be submitted to
the People’s Court

    

    Party A:
Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd.

    Legal
Representative:    (with the signature and corporate
seal)

     

    Party B:
Hohhot Branch of China Citic Bank

    Legal
Representative:     (with the signature and corporate
seal)

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