Document:

Unassociated Document

    EXHIBIT
10.12

    

    RMB
SHORT-TERM LOAN AGREEMENT

    NUMBER0912
1002

    

    According
to the application of the Borrower , after the review of Lender who agrees to
lend RMB to the Borrower for short-term loan subject to this agreement’s
provisions and conditions. In order to specify the obligations and rights of two
parties, and keep the credibility in seriousness, contracting parties on the
basis of relevant laws and regulations of PRC, and through equal consultations,
have signed this agreement on a voluntary basis to conclude the following
contract.

    

    Article
1. DEFINITIONS

    In this
Agreement, the following expressions except where the context otherwise
requires, shall have the following meanings, namely:

     

    1)“Obligatory
right” or principal claim, means Borrower (loanee) applies to Lender(loaner),
after having approvals of the Lender, the financing which the Lender provide
becomes RMB obligatory right( including principals, interests, default
interests, compound interests, penalty, indemnification for loss and the fees of
loaner realizes the obligatory right etc. ) under this agreement.

     

    Borrower
and Lender (collectively called “Two parties”) agree and accept hereof, the
Lender’s obligatory right which Borrower holds in this agreement consistent with
Borrower’s according to this agreement.

     

    2), “
Fees of obligatory right realization” including but not limited to the expenses
of suit, arbitration, identification, auction, sell, telecommunication,
travelling and disposition etc.

     

    3),
“Significant transactions” in Section 12 of this agreement means(including but
not limited to ): any transactions which going to occur or potentially will
adversely affect the company of the Borrower’s basic framework, the changes of
company’s shareholders, contingent liability, cash flow, profitability, the core
business confidential information, the major competitive forces, important
assets, significant debts, ability to repay debts, ability to implement this
agreement, or other events which Lender and / or Borrower consider to be
significant.

     

    4), “
Significant events” in Section 12 of this agreement means (including but not
limited to ): any events which going to occur or potentially will adversely
affect the ability of executives in Borrower’s company implementing their
duties, the employment and termination of company’s core business staff, core
business secrets, major competitive forces, the basic structure of the company,
the changes of company’s shareholders, contingent liability, existence of
company, the legitimacy company’s operation, the stability the company,
company’s development, profitability, the ability to repay debts, the ability to
implement this agreement, or other events which Lender and / or Borrower
consider to be significant.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5),
“Business Day” under this agreement means the Lender bank’s working day, during
fulfil the agreement, if a withdraw or repayment day is not a business day, then
prolong to the next business day.

     

    Article
2. Loan Amount

     

    Lender
agrees to lend 20million RMB to the Borrower.

     

    Article
3. The purpose of loan

     

    The
purpose of loan is to purchase raw material for production. Without the Lender’s
written consent, the Borrower should not change the purpose of using the borrow
money in this agreement.

     

    Article
4. Loan period

     

    
      	  	
              1)

            	
              The
      loan period is 12 months, from December 14 of 2009 to December 14 of
      2010.

            

    

     

    
      	  	
              2)

            	
              As
      to one-time loan, the loan date is subject to the record actual date on
      receipt for a loan(IOU) or scheduled herein loan, if the actual date of
      advances is late than the previous date of advances, then the maturity
      date should be correspondingly
prolonged.

            

    

     

    
      	  	
              3)

            	
              The
      plan of using the money: To be mutually agreed
  upon

            

    

     

    ____Date____Month_____Year________________yuan;

    ____Date____Month_____Year________________yuan;

     

    ____Date____Month_____Year________________yuan;

    ____Date____Month_____Year________________yuan;

     

     The
Borrower shall apply for a loan to the Lender within 3 working days before the
date of every monthly withdrawals or other time in accordance with the written
demand of the Lender.

     

        If
the Borrower fails to timely withdraw the loan within the time by month based on
the provisions above, the Lender has the right to impose upon the
Borrower   n/a
  per million penalty of that monthly said amount.

     

         In
accordance with the contract Article 6, the Lender shall credit the said amount
in month on the date stipulated above into the Borrower’s
account.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

          4.
The Borrower has the right to adjust the plan of using the monthly-borrowed
money according to the borrowing items if they comply with relevant law,
regulations, policy and the pre-condition of the Lender’s demand, and other
factors that the Borrower requests, such as the sign of guaranteeing contract
corresponding to the contract and the time of performing the guaranteeing
documents. In the event that the Borrower fails to perform the pre-conditions
based on the provisions of the contract, the Lender has the right to stop the
loan or rescind the loan contract, and the Borrower shall bear corresponding
breaching responsibilities.

     

    5. The
monthly loan shall adopt the fixed due date, that is, all the loaning date shall
have the same date with the loaning date at the first time or the date confirmed
by the borrowing documents.

     

    6. If the
Lender recall the loan before the due date in accordance with the provisions
hereof, it is deemed that the due date is advanced correspondingly.

    

    Article
5  Loan Interest Rate and Interest Repayment

     

    
      1. 
The loan
interest rate is subject to the Second arrangement
below:

    

     

    (1) Fixed
interest rate, which implements ____ % per year. If after four days of the
recording date of loaning or before the actual date of loaning, the national
benchmark interest rate is adjusted, the fixed rate shall from the date of
releasing the loan increase by ____% or decrease by ____% with the same term and
grade of national benchmark interest rate; or the actual interest rate equals to
the interest rate of the actual date of releasing loan with the same term and
grade of national benchmark interest rate multiplied by the coefficient____.
During loaning time, the loan rate shall not adjust to the national benchmark
rate.

     

    (2)
Flouting interest, determined in quarterly, the interest rate per year shall
increase by   0 
% or decrease by  
0  % with the same term and grade of national benchmark interest
rate; or the actual interest rate equals to the interest rate of the actual date
of releasing loan with the same term and grade of national benchmark interest
rate multiplied by the coefficient   1  .
Initial interest payment rate is the interest rate of the actual date of
releasing loan with the same term and grade of national benchmark interest rate
multiplied by the coefficient above. From the actual date of releasing the loan,
after the whole quarter, the next period’s interest rate shall be determined by
the corresponding interest rate with the same term and grade of national
benchmark interest rate multiplied by the coefficient above.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

         During
the period of loaning, if national benchmark interest rate is adjusted, the
Lender shall not inform the Borrower any more.

      

    (3) Other
interest rates:

     

    2. The
loan by installments hereof shall agree with the national benchmark interest
rate on the date of releasing the loan every time as a determined
standard.

      

    3. If the
nation calls off the benchmark interest rate, the Lender shall have the right
according to the national policy at the same period to re-fix the loan rate
based on the principle of equality and credibility and by contrast with the
industry convention and interest rate state. If the borrower disagrees with the
interest rate determined by the Lender, the Borrower shall negotiate with the
Lender immediately. In the event of failure to negotiate, the Lender has the
right to recall the loan in advance, and the Borrower shall pay back the rest
loan and the interest immediately.

     

    4.
Payment of the Interest of Borrowed Money

     

    The
payment of the interest of borrowed money shall be implemented pursuant to
the First
provision.

     

    (1) The
loan hereof are agreed the date of 20th of
every month as interest settlement day. The Borrower shall pay the interest of
that term the day after the date of interest settlement day, and the interest of
last term on the due date of loaning.

     

    (2) The
Borrower shall pay back all the loan interest on the due date of
loaning.

     

    (3) Other
payments: ______________________________________.

     

    5.
Penalty Interest and Compound Interest

     

    (1) If
the Borrower fails to use the loan according to the use hereof, the Lender shall
have the right to impose upon penalty interest, and the penalty interest rate
increases by   100 
% of loan interest rate. If the Borrower is overdue to pay back and does
not agree with the Lender about future payment, that is, overdue borrowed money;
the Lender has the right to impose upon the penalty interest, and penalty
interest rate increases by   50 % of
loan interest rate. As for the overdue paid interest, the Lender has the right
to impose upon the compound interest based on the penalty interest rate
hereof.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (2) Loan
interest rate adopts the fixed rate, so the penalty interest rate shall be
fixed, too. If the loan interest rate uses the fluctuating interest rate, so the
penalty interest rate shall be the same, and the fluctuating period shall be the
same with the loan interest rate’.

     

    (3) The
counting method and payment of penalty interest and compound interest shall
perform according to the repayment of loan interest hereof.

    

    Article
6 Loan Releasing and Repayment

     
  

    1. Loan
Releasing

     

         In
the event that the Borrower meets the pre-conditions of releasing loan requested
by the Lender, the Lender shall release the loan as the following
items:

     

         (1)
The Borrower has delivered the following documents to the Lender, the situation
demonstrated by the documents has no change and continues to validate; or the
Borrower has made the Lender satisfactory explanation and statement about the
change:

     

         1)
The Borrower’s company charters confirmed in written by the Borrower, business
license, the signature sample of legal representatives and the members of the
director board as the registration and record in the administrative department
for industry and commerce, the Borrower’s property assessment report, and the ID
card copies of the legal representatives, and other company documents that the
Lender deemed necessary.

     

         2)
The original copy of the meeting of the board of directors or the shareholders
held by the Borrower according to legal procedures, and passed by the votes of a
quorum of the directors or shareholders, true, legitimate and effective
agreement about applying for the loan hereof to the Lender and announcing the
use of the loan clearly and accepting the all the borrowed conditions required
by the Lender; or other documents that the Lender deemed
necessary.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

         3)
The recent three years’ audited annual financial reports and statements approved
by the Lender; or other financial documents that the Lender deemed
necessary.

     

         4)
If the loan items under the contract in accordance with national regulations or
requirements need to be applied for approval, the Lender has provided the true
and effective original documents approved by the relevant national authorities
for the Lender;

     

         5)
If there is a third party to guarantee, the company charters confirmed in
written by the guarantor; business license; the signature sample of legal
representatives and the members of the director board as the registration and
record in the administrative department for industry and commerce; and the true,
legal, and effective resolution made by the authoritative agent about agreeing
with the guaranteeing for the loan hereof; and other company documents that the
Lender deemed necessary.

     

        6)
Other documents, reports, certificates and data required by the
Lender.

     

        (2)
The Lender has filled with the relevant promissory note or loan certificate. The
promissory note or loan certificate is an integral part of this contract, and
both of them have the same legal validity. If the loan amount, loan period and
interest rate and so on are inconsistent with the record of loan certificate,
the record of the loan certificate shall prevail.

     

        (3)
The declaration and commitments made by the Borrower in the contract Article 8
remained true and effective; on the date of withdrawal or before the date no any
events of default or potential event of default occurred.

     

        (4)
If there exists mortgage or pledge, according to relevant laws and regulations,
the Borrower has finished the registration of a mortgage or pledge, relevant
ownership and registration certificate documents and so on have been delivered
to the Lender to receive and keep based on the Lender’s requirements; if there
is the third party to guarantee, the guarantee contract has been put into an
effect. The guarantee shall remain valid.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

        (5)
If the Lender requests to mortgage property to insure for the loan, the
insurance procedures of the Lender as the first beneficiary have been completed
and the insurance documents has delivered to the Lender to receive and keep; and
the insurance remains valid.

     

        (6)
If the Lender requires notarization procedures and so on, such procedure and the
procedures related to it have been completed.

     

        (7)
The Borrower has opened an account at the Lender’ and paid the relevant costs in
accordance with the requirements of the Lender hereof.

     

        (8)
Other loan conditions required by the Lender.

       

    The
Lender shall perform its obligations in accordance with provisions hereof under
the pre-condition that the Provision 1 in Article 6 is met. As for the
pre-conditions above, the Lender has the right to unilaterally decide to reduce
or give up parts of them; and the Borrower and Guarantor shall not take this
condition as the subject matter object to the Lender. Once the borrowed money is
credited to the Borrower, the loan is deemed to have been released, and the loan
interest shall be counted from the date of releasing.

       

    
      	
              2.

            	
              Payment
      of Borrowed Money

            

    

    
      
        	 	 
	
                (1)

              	
                The
      borrowed money hereof adopts the Option A
  below:

              

      

    

     

    (A) The
Borrower shall pay back all the cost and interest on the due date at a
time.

     

    (B) The
Borrower shall pay back all the cost and interest by installments, and the
amount of the cost and the date as followed:

     

    _____(Month)______
(Date)____ (Year), pay back _____Yuan;

    _____(Month)______
(Date)____ (Year), pay back _____Yuan;

    _____(Month)______
(Date)____ (Year), pay back _____Yuan;

    _____(Month)______
(Date)____ (Year), pay back _____Yuan;

    _____(Month)______
(Date)____ (Year), pay back _____Yuan.

     

    If the
Lender adjusts the installment use plan, the date of installment payment does
not change, and the Borrower shall pay back the cost and interest on
time.

     

    (C) Other
payments of paying back the cost and interest: _____________.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (2) The
Borrower shall timely repay the enough cost and interest on the date of
repayment and interest settlement hereof. If the Borrower fails to pay back the
cost and interest, the Lender has the right to take out of the cost and interest
from the Borrower’s account opened at the Lender’ or any branch agent in
accordance with relevant regulations and the internal systems of the
Lender.

     

    (3) If
the date of repayment is the Lender’s non-working day, the date shall delay the
next working day of the Lender, and the date is counted into the actual days of
loaning. When the Borrower pays back the last installment payment, the Borrower
shall repay all the cost and interest, and this is not subject to constraints of
the interest settlement date in Article 5.

      

    (4) The
Borrower fails to repay the loan hereof and requires the extension of repayment,
the Borrower shall submit the written application about the extension of
repayment before   n/a
  days of the Lender’s working day in advance. After the
application is reviewed and approved by the Lender, the two parties shall sign
another one Loan Contract of
Extension as the supplementary contract of the contract.

     

    Article
7   Surety

    
    

    
      	
              1.

            	
              The
      following as guarantee contract of this
contact

            

    

    
      (1) 
NO. :
Xingye Bank in Hubei
(guaranteed) 0912 No. 9001; commitment guarantee( the name of
contact)

    

    means of
this guarantee:   commitment
guarantee            
Guarantor: Wuhan
Credit Risk Management Ltd.
Co.                

    (2) NO. :
Xingye Bank in Hubei
(guaranteed) 0912 No. 9002; Guarantee
Margin Agreement ( the name of
contact)

    means of
this guarantee:
margin Guarantor:Wuhan Criedit Risk
Management Ltd. Co.

     

    
      	
              2.

            	
              Before
      this contract which is signed comes into affect, the Lender shall not
      fulfill the obligations of loan and other ones under this contract for
      now.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Article
8   Statements and Commitments of the Borrower

       

    The
Borrower voluntarily makes the following statements and commitments and bears
the legal liabilities for the authenticity of them.

       

    
      	
               
      

            	
              1.

            	
              The
      Borrower is a legal entity duly established and existing in accordance
      with laws of the People’s Republic of China with a full civil capacity.
      The Borrower guarantee to provide the relevant verification, permission,
      certificate and other documents required at irregular intervals by the
      Lender.

            

    

    
      
        	 	 	 
	
                 
      

              	
                2.

              	
                The
      Borrower has enough ability to perform all the obligations and
      responsibility under this contract. If some instruction and his financial
      situation are changed, or he enters into any agreement with any units, he
      will be diminished and exempted from payment
    responsibility.

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                3.

              	
                The
      Borrower has full rights, authorization or legal rights to enter into this
      contract. The borrower has obtained and fulfilled all the approval,
      authorization and other relevant procedures of the bank, and all the
      approval, registration, authorization, content, permission and other
      procedure of any government and power organ required by signing and
      performing this contract. All the approval, registration, authorization,
      content, permission and other procedures required by signing this contract
      are legal and valid.

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                4.

              	
                The
      Borrower signing this contract completely consists with the relevant
      regulations, internal decision and the resolution of meeting of
      shareholders and boards of directors of the Lender. This contract does not
      breach and violate any regulation, internal decision, the resolution of
      meeting of shareholders and boards of directors of the Borrower and the
      borrower’s policy.

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                5.

              	
                In
      accordance with the genuine intention of the Borrower, this contract is
      signed and performed. The signing and performing of the contract mentioned
      above do not breach any law, regulation, decree and the agreement of the
      contract. This contact that is legal and valid may be enforced. If this
      contract is null and void due to the defects of title of the Borrower, the
      Borrower shall immediately and unconditionally compensate for all the
      losses of the Lender.

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              6.

            	
              All
      the documents, financial report and other data under this contract that
      the Borrower provides for the Lender are authentic, complete, accurate and
      valid. And the Borrower shall persistently maintain all financial indexes
      claimed by the Lender.

            

    

    
      
        	 	 	 
	
                 
      

              	
                7.

              	
                The
      Borrower accepts loan business under this contract and is governed by the
      regulations, conventions and actual practice of the Lender, whose ultimate
      translating rights belongs to the
Lender.

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                8.

              	
                If
      the Borrower does not fulfill the obligation under this contract, the
      Borrower hererby authorizes the Leader to transfer and receive the due
      payment from any account opened by the Borrower at the Lender or the
      Lender’s other systems.

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                9.

              	
                During
      any transacting stage after signing this contract, if the Borrower
      provides any documents related with the transaction for the Lender to
      check, the Borrower shall guarantee the authenticity of all the documents.
      The lender just judges the external authenticity of the documents, neither
      involves in nor knows the substantial transaction the lender engages in,
      as well as not bears the legal
reliability.

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                10.

              	
                Besides
      the situations disclosed to the Leader in writing, the borrower confirms
      he does not conceal any the following events that happened or is expect to
      happen, which may cause that the lender refuses to issue the loan under
      this contract:

              

      

    

     

    (1) the
Borrower’s debt including but not limited to mortgage, pledge, lien, and other
debts covered in accordance with the assert and income of the
Lender

     

    (2) the
behavior of breaching law and regulation or the claimed situation involving the
chief managers from the Borrower and the lender

     

    (3) the
behavior of breaking the contracts between the Borrower and any
creditor

     

    (4) no
lawsuit, arbitration administrative litigation referred to the Borrow and the
Borrower’s property, in progress or the possible in accordance with the Lender’s
understanding, and no the liquidation, discontinuance or other similar
procedures related with the borrower proposed by the Borrower or the third
party

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (5) other
any situation that may affect financial conditions or repay ability of the
Borrower

       

       11.
The Borrower promises to use the loan in accordance with this contract and shall
not be appropriated for any other use or used for other purposes that
of  breaching this contract. The borrower shall be supervised and
checked voluntarily and cooperatively by the Leader about the use of the loan,
production and operation, financial activities, the material in stock, asset and
liabilities, the deposit of the bank, the cash and other situations. The
borrower shall meet other requirements that the Lender thinks necessary and
proper.

     

       12.
The Borrower shall provide the enough and valid surety accepted by the Lender or
other surety that the Lender thinks to be accepted or matched.

     

       13.
No the borrower may reduce the registered fund by any means. Without the
approval in writing of the Lender, the Borrow shall not transfer the loan under
this contract to the third Party. Before the payment in full of the debt under
this contract, the Borrower shall not repay any debt with the Lender and any
creditor in advance without the approval in writing of the Lender.

    

       14.
If the litigation and arbitration occur between the Borrower or the relevant
third party related to the Borrower when the Lender performs the obligations in
accordance with the provisions hereof, so that the Lender is forced to get
involved in the disputes with any other third party; and the Borrower shall pay
the costs of litigation or arbitration. And the attorney fees and all other
costs shall be also born by the Borrower.

    

       15.
Any settlement business related with this contract shall be handled by the
settlement account opened by the Lender.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Article
9 Responsibilities and Obligations of Both Parties

      

    
      	
               
      

            	
              1.

            	
              Responsibilities
      and Obligations of the Lender

            

    

    
      
        	 	 	 
	
                 
      

              	
                (1)

              	
                Responsibilities
      of the Lender

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                1.

              	
                having
      the right to require the Borrower to duly repay the principle and interest
      of the loan and the relevant
expense

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                2.

              	
                having
      the right to require the Borrower to provide all the date related with the
      loan

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                3.

              	
                having
      the right to understand production and operation and financial conditions
      of the Borrower

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                4.

              	
                having
      the right to supervise the Borrower to use the loan in accordance with
      this contract

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                5.

              	
                having
      the right supervise the advancement of the project and put forward the
      suggestions and demands, which uses the loan under this
      contract

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                6.

              	
                having
      the right to transfer and receive the principle and interest of the loan
      and other relevant expense from the account of the Borrower any the
      time

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                7.

              	
                The
      lender have the right to transfer the obligatory right or part of that and
      the security interests to the third Party without the approval of the
      Borrower. After transferring the obligatory right and the security
      interests, the Lender remains to bear the entire obligation under this
      contract

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                8.

              	
                If
      the Borrower fails to repay the principle and interest of the loan in
      accordance with this contract or deal with the relevant matters of
      repayment, the Lender is able to disclose it in credit information of the
      People’s Bank of China or in the new media and take legal actions such as
      recovery, litigation and
arbitration

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                9.

              	
                The
      Lender has the right to take corresponding measures in accordance with the
      compulsory and leading regulation and instruction of bank’s administrative
      department and the obligations entitled by the instructions and
      conventions of national and local bank association without the need of
      informing the Borrower in advance and requesting permission of the
      Borrower in advance

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              10.

            	
              having
      the right to enjoy other responsibilities by the laws, regulations,
      degrees and this contract

            

    

    

    2. The Rights and
Obligations of the Borrower

     

     (1)
The following rights belong to the borrower:

     

       Firstly,
rights in drawing and using all loans in accordance with convention in this
contract.

      

       Secondly,
rights in requiring lender’s confidentiality obligation of borrower’s data
according to the clauses of this agreements.

      

    (2)
Obligations of the Borrower

      

       a.
the borrower should supply the files and data lender requires and all the
information of opening bank, account numbers and balances of deposits and loans.
In addition, borrower should cooperate with the lender in its investigation,
inspection and examination.

     

       b.
the borrower should accept lender’s supervision in using credit capital and
other related production and operation, as well as financial activities; In case
of the loan in this contract is used in project construction, the borrower
should cooperate with lender to give a survey on such project and adopt the
reasonable measures in regarding to lender’s suggestions or
demands.

    

       c.
the borrower should use loan according to the contract’s conventions and avoid
embezzlement and equity investment, and speculation of marketable securities,
futures, real estate and so on. The borrower should not engage in lending and
borrowing activities between enterprises and other illegal activities restricted
by other countries; it should not occupy and embezzle borrowed loan in other
ways.

      

    d. the
borrower should repay the enough principals of loans according to the contract’s
agreements.

     

    e.
Without lender’s written agreement, the borrower should not transfer its all or
partial debts to the third party.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    f. The
borrower should bear the cost regarding to the contract, which includes but not
limited in notary, identification, evaluation, register fees and other fees as
well as lender’s fees in realizing the rights of debts.

      

    g. The
borrower should not reduce the registered capital in any way.

      

    h. The
borrower should obtain the written agreements coming from lender in advance and
implement the safeguard measurements in full repayment of loan’s principles and
costs scheduled according to lender’s requirement under the agreements of this
contract. Otherwise, it can be takes as the borrower’s defaults and lenders can
adopt measurement of recovering debts in advance and these cases
include:

      

    1.The
amount of loan applied for the third party of bank is more than   n/a   Thousands
Yuan or total liabilities is more than   n/a   Yuan or
providing more than   n/a   Yuan
RMB loan; or supply the guarantee for the third party’s debts more
than   n/a  
Yuan.

      

    2. Making
the material assets and property changes, the adjustment in ways of operation
and the main management personnel (including but not limited in the signing of
cooperative contracts or joint ventures with foreign traders or Hong Kong,
Macao, Twain businessmen; cancellation, close, production, merger, division,
taking over, being mergered, acquisitions and recombination, organization or
reconstruction into the joint-stock company; or invest to build the joint-stock
companies and investment company by taking the fixed assets such as houses,
machines and other equipments or some intangible assets such as trademark,
patent, proprietary technique, and land use rights and so on; to make the
operation right transaction, the main personnel changes in management by the way
of lease contract, joint custody and so on.

      

    3. the
borrower should immediately notice lender and implement the supporting
measurement of paying of the principal of loan and scheduled full-payment in
repaying in event of these cases:

    
    

    
      	  	
              (1)

            	
              The
      happening of great financial losses, assets losses, or other financial
      crisis.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	  	
              (2)

            	
              The
      happening of revoke or cancellation of business licenses or closing down,
      application or being application of bankruptcy or dissolution and other
      status.

            

    

    
      
        	 	 	 
	  	
                (3)

              	
                The
      great crisis of controlling shareholders or other related company’s
      operation influencing its normal
operation

              

      

    

    
      
        	 	 	 
	  	
                (4)

              	
                The
      great changes of the legal representative of borrower, director, senior
      management personnel and other changes influences its normal
      operation

              

      

    

    
      
        	 	 	 
	  	
                (5)

              	
                The
      affiliate transaction happening between the borrower and controlling
      shareholders and other related company influences its normal
      operation

              

      

    

    
      
        	 	 	 
	  	
                (6)

              	
                Any
      litigation, arbitration, administrative penalty results from the bad
      influences on operation or
property

              

      

    

    
      
        	 	 	 
	  	
                (7)

              	
                Other
      great matters happening in influencing its ability in paying
      debts

              

      

    

     

    10. The
borrower guarantees that it should keep current assets and net asset value
within the rank of   n/a
 , asset liability ration within the rank of   n/a   , current
assets ration within the rank of   n/a  .

     

    11. In
regard to the sending collection letters or files the lender send, the borrower
should sign and return the receipt to the lender.

     

    12. The
borrower own independent obligation under the clauses of this contract and is
not influenced by any party of this contract or the relationship between the
third parties in addition to that of outsides the regulation of this
contract.

    

    2.
Obligations of the Lender

     

    1) To
grant loans to the Borrower as agreed in this contract;

     

    2) To be
entitled to keep the Borrower’s debts, financial status, and manufacturing and
operation conditions in secret, excluding the laws and rules or stipulations,
instructions and command of the supervisory organizations.

    

    Article
10    Prepayment

      

    1. If the
Borrower requires repaying partial or total of the principal and interest of the
loan ahead of schedule, the Lender shall be notified thereof in writing
ahead workdays and
the Borrower should obtain the written consent of the Lender. The Lender has the
right to ask the Borrower to pay   n/a   Yuan of the
loan repaid beforehand as compensation.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2. After
repaying partial principal and interest of the loan ahead of schedule with the
approval from the Lender, the Borrower shall confer with the Lender on the next
repayment tenor, date and loan amount. The accrued interest of the principal
repaid beforehand is calculated at the borrowing rate agreed in the contract
according to the actual utilization time of the loan. The Lender shall not
adjust the loan interest calculated before prepayment.

     

    3. If the
Borrower repay the loan under this contract in advance without the written
consent of the Lender, the Lender has the right to calculate the interest
according to the rate and time limit agreed in the contract.

    

    Article
11    Recall the loan beforehand

      

    1. During the borrowing
period, if the Borrower or the Guarantor (namely, the assurer or
mortgagor, or pledgor under this contract) is under any of the following
circumstances, the Lender shall be entitled to take the unilateral decision to
withhold the unused part of loan under this contract and recover part or total
of the principal plus interest; for the amortized loan, if the Lender recalls
one part of the loan in advance as agreed in the contract, other undue parts of
the loan shall be deemed as due prior to maturity:

     

    (1)
Providing false materials or concealing important financial operation facts; any
certificate or document submitted to the Lender and any provision of pledge or
commitment made in Article 8 of this contract is proved to be false, in error,
incomplete or misleading deliberately;

     

    (2)
Changing the assigned use of loan, diverting the loan, or using the loan to
engage in illicit trade without the approval of the Lender;

     

    (3) Using
the false contract entered with the interested party to discount on or pledge
claims such as notes receivable or accounts receivable to cheat the Lender of
capital or credit.

     

    (4)
Refusing to accept the Lender’s supervision and inspection of the use of credit
funds and financial operation activities;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (5) The
occurrence of important situations like restructuring, merger and acquisition
which might affect the security of the loan according to the
Lender;

     

    (6)
Deliberately evading the Lender’s claim through affiliated
transaction;

     

    (7) With
deteriorating credit and having apparently impaired liquidity (including
contingent liability);

     

    (8) The
Borrower, or the Lender’s affiliated enterprise or guarantor,  or the
Guarantor’s affiliated enterprise having any cross-default circumstances as
provided in Article 14 of this contract;

     

    (9) The
Borrower’s defaulting in paying off any principal, interest or expense of the
financing under the contract;

     

    (10) The
Borrower’s stopping paying for his debts or failing to or showing to be unable
to pay his debts;

     

    (11) The
Borrower’s suspension, discontinuance of a business or having been declared
bankrupt, dissolution or revoked of the business licenses, or dismantlement, or
involving in major economic disputes, or deteriorating financial
situation;

     

    (12) The
Borrower’s failing to perform the obligations provided in article 9 and 12 of
the contract and other obligations agreed as the contract, or the Guarantor’s
failure to fulfill the obligations agreed in the guaranty contract;

     

    (13) The
already or significantly possible reduction of the value of the mortgaged
property or pledged property, or the right of pledge’s having to be granted to
cash before maturity;

     

    (14)
Other issues that imperil, impair or possibly imperil, impair the rights and
interests of the Lender.

       

    2. When
recalling the loan ahead of the time, the Lender is entitled to take relevant
measures as agreed in the Article 13, section 2 of the
contract.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Article
12 The Borrower’s obligation to disclose important transactions and events to
the Lender

    

    In any of
the following cases, the borrower shall submit written disclosure to the Lender
duly, and cooperate with the Lender to take loan assurance measures at the
request of him, to pay off or implement the repayment of debts.

     

    1. The
Borrower shall present written reports to the lender duly to inform the
applicant’s important trades or events.

     

    2. If the
Borrower belongs to the group customer, the Borrower should report its
affiliated transactions accounting for more than 10% of its net asset value to
the Lender, which includes but not limits:

     

    (1) the
related relationship of the parties in transaction;

     

    (2) the
transaction items and nature;

     

    (3) the
transaction value and its corresponding proportion;

     

    (4)
pricing policy (including the transactions with no value or token
value).

      

    3. Within
the effective period of this contract, if the Borrower makes preparations for
the transfer of the share, restructuring, merger, separation, shareholding
reform, joint venture, cooperation, joint management, contracting, leasing,
changing business scope or registered capital, transfer of significant assets,
contingent liability or other items, or conducts any item that might affect or
seriously influence his accountability capacity, which all shall be informed to
the Lender in written form ahead of 30 calendar days.

       

    4. The
Borrower’s suspension, discontinuance of a business or declaration of
bankruptcy, dissolution or revocation of the business licenses, or
dismantlement, deterioration of financial situation or involving in major
economic disputes, or the occurrence of any other events that might affect or
seriously influence his accountability capacity, which all shall be informed to
the Lender in written form within 7 calendar days after the occurrence of the
event.

       

    5. If the
Borrower involves in major court case or arbitration case with any third party,
which might affect or seriously influence his accountability capacity, the
Borrower shall inform the Lender in written form within 7 calendar days after
receiving the relevant notice.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6. The
Borrower shall be ensured not to imperil the Lender’s claim by taking advantage
of his legal dispute with any third party (including basic trade contract
dispute).

    

    Article
13    Liability for breach of
contract

     

    1. After
the commencement of this contract, both the Borrower and the Lender shall
perform the obligations agreed in the contract, any party who fails to or does
not fully fulfill his contract obligations shall be liable for the corresponding
breach of contract.

     

    2. If the
Borrower fails to fulfill any contract agreement, the Lender is entitled to take
the following one or multiple measures:

     

    (1) to
remedy the default with a time limit;

     

    (2) to
withhold the unused loan under the contract;

     

    (3) to
take the unilateral decision of the of maturity in advance of partial or total
of the loan;

     

    (4) to
take the unilateral decision to terminate the contract, and require the Borrower
to pay off the mature or immature principal with interest and pay or compensate
for the related expenses;

     

    (5) to
require the borrower to pay default interest if the payment is overdue; to
require the borrower pay for the default interest by diverting the funds; to
require the borrower to pay for the compound interest;

     

    (6) to
require the borrower to supplement the right of mortgaged or pledged property,
or change the guarantor;

     

    (7) to
implement or fulfill the obligations under any guarantee levels;

     

    (8) to
deduct the principal and interest from any of the borrower’s accounts (excluding
public accounts like public accumulation funds and trade union expenses) opened
at the Lender’s, or to consign the issuing bank of the Borrower’s account to
deduct the principal and interest of the loan, which includes but not limits to
the borrowing principal and interest, as well as other expenses agreed in the
contract; if the currency in the borrower’s account is different for the his
loan currency, the Lender has the right to deduct the fund after converting the
currency into the loan currency according to the buying exchange price quotation
of that day so as to pay off the borrowing principal and
interest;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (9) to
institute legal proceedings or arbitrations to require the Borrower to pay off
the principal and interest of the loan, the expenses that the Lender fulfills
his obligatory right shall be borne by the Borrower;

     

    (10) The
Lender is entitled to grant a levy or lien on the borrower’s tangible or
intangible property under the Lender’s control or possession of any of the
Borrower’s movable property or real estate, or take other measures that are
deemed appropriate by other Lenders;

     

    (11) to
take other measures stipulated by the laws and regulations, agreed as the
contract or appropriate for the Lenders.

     

    3. If the
Lender fails to provide the loan according to the agreed date and value, which
consequently causes the loss to the Borrower, he shall compensate for the direct
economic loss brought to the Borrower. However, the Lender is not liable for
indemnity towards any foreseeable or unforeseeable indirect loss caused by the
above reasons.

     

    4. If the
Guarantor under this contract (i.e. the warrantor, mortgagor or pledgor)
produces the following causes, the Lender has the right to take measures as per
this Article, Section 2:

      

    (1) The
Guarantor fails to fulfill the agreements in the guaranty contract or his credit
condition deteriorates or the occurrence of other events weakens the Guarantor’s
capability of guarantee;

      

    (2) The
Mortgagor fails to fulfill the agreements in the mortgage contract, or
deliberately destroy or ruin the mortgaged property; or the value of the
mortgaged property might reduce or has apparently reduced; or other events that
imperil the Lender’s right of mortgage appear;

      

    (3) The
Pledgor fails to fulfill the agreements pledge contract; or the value of the
pledged property might reduce or has apparently reduced; or the right of pledge
has to be fulfilled before the payment of the loan; or other events that imperil
the Lender’s right of pledge appear;

    
      
         

      

      
         

        
          

        

      

      
         

      

    
  

    Article
14   Cross-default clause

     

    Borrower,
or the Borrower’s related enterprises and its Guarantor, or the Guarantor’s
related enterprises having any of the following cases will be regarded as the
concurrent breach of contract of the Borrower, the Lender has the right to
recall the loan beforehand as the agreements in the Article 11 of this contract,
and at the same time, to require the Borrower to undertake the liability of
breach of contract on the strength of the agreements in the Article 13 of this
contract:

     

    (1) Any
loans, financings or debts have violated or might violate the contract, or have
been declared to be due prior to maturity;

     

    (2) Any
Guaranties or similar obligations fail to be fulfilled, or existing the
possibility of failing to be fulfilled;

     

    (3)
Failing to fulfill or violate the relevant loan guaranty and other legal
documents or contracts similar to obligations; or existing the possibility of
violation or failing to be fulfilled;

     

    (4) The
occurrence or immediately occurrence of the situation of insolvency of the
due debts or the due loans/financings;

     

    (5) Being
named in the gazette or immediately being declared bankrupt according to legal
procedures;

     

    (6)
Transferring the assets or properties to other creditors;

     

    (7)
Imperiling the security of the principal and interest of the loan under this
contract.

    

    Article
15 Continuity of the Obligations

     

    Borrower’s
any obligation has continuity under the clauses of the contract and these
subjects after being mergered and reorganized and renamed stills own the
complete and equally binding upon heirs, agents, receivers and
assignees.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Article
16 Accelerate Expired Clauses of Principals, Interests and Costs

     

    With the
agreements of both borrower and guarantor, in event of borrower’s failure of
performance the statements and promises hereof in the contract or borrower’s
failure of any obligations hereof in this contract, lenders reserves the right
to decide borrower’s other any obligation to lender including all the
principals, interests (including default interest and compound interest) of due
and undue loan and the pay obligation of corresponding cost should be due
immediately.

    

    Article
17 Priority in Arrangements of Subrogation Right

     

    The
borrower gives a special statement here that the lender owns the priority in
subrogation rights claim as for lender’ s any third party’s claims, accounts
receivable or other interests and properties in case of borrower’s breach or
failures in paying the due debt including principal, interest and cost;
meanwhile the borrower having not enough property to pay debt.

    

    Article
18 Offset Arrangements

     

    The
borrower reserves the right in deducting lender’s any account to offset the
debts directly in event of any debt advanced expire resulting from lenders or
guarantor’s failure of performance of due debts or any breach of agreements
herein this contract. When the borrower’s deducts the lender’s payment in
accounts, the foreign exchange prices should be subjected to the exchange rate
quoted by borrower in case of any different currencies.

    

    Article
19 Law Application, Jurisdiction and Disputes Settlements

     

    
      	
               
      

            	
              1.

            	
              Signing,
      effect, performance, release, interpretation and disputes settlements and
      so on are applicable to laws of the People’s Republic of
      China.

            

    

    
      
        	 	 	 
	
                 
      

              	
                2.

              	
                All
      disputes arising from the execution of or in connection with, this
      contract shall be settled amicably through friendly the borrower and
      lender. In case no settlement can be reached through negotiation, the case
      shall then be submitted to these following the First Option
      below;

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Settlement
one: to institute legal proceeding lender’s People’s Court. Legal costs and
reasonable counsel fee and other fees produced in the process of lawsuit are
included but not limited to the property preservation fee, travel fee, notary
and certification fee, translation fee, evaluation fee and auction fee and so
on. All fees should be borne by losing party.

    

    Settlement
two: All disputes arising in connection with this Contract shall be submitted to
arbitration by any party, in accordance with its arbitral rules of procedure.
The decision shall be accepted as final and binding upon both parties. The
arbitration shall be conducted by (  ) court. Arbitration fee and
reasonable counsel fee and other fees produced in the process of lawsuit are
included but not limited to the property preservation fee, travel fee, notary
and certification fee, translation fee, evaluation fee and auction fee and so
on. All fees should be borne by losing party.

     

    Settlement
three: other ways:  (   )

    

    
      	 	
              3.

            	
              During
      the litigation or arbitration, other clauses not involving disputes should
      be performed.

            

    

    

    Article
20 Files Exchanges, Communication and Notice

     

    
      	
               
      

            	
              1.

            	
              All
      exchanges, communications and notices which may or shall be given under
      this contract shall be made by registered address, telex number or other
      ways to send to the other party in a written
  form.

            

    

    
      
        	 	 	 
	
                 
      

              	
                2.

              	
                If
      either party has changed its address mentioned above, any shortcut should
      be used to notice the other party without
  hesitation.

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                3.

              	
                All
      files, communications and notices should be taken as being delivered
      according to the above-mentioned addresses within the following
      dates:

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                (1)

              	
                5
      days after the letter is
registered;

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                (2)

              	
                Date
      of confirmation by the other party if the telex is
  send;

              

      

    

    
      
        	 	 	 
	
                 
      

              	
                (3)

              	
                Date
      of signature of receipt in case of the special
  sending;

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (4)

            	
              The
      two parties agree that the official seal, office seal, financial seal and
      contract seal, send and receive seal, as well as lender’s special seal in
      credit business are the effective seals for the communication, file
      exchange and notices. Staff in borrower’s company is the entitled signer
      for exchange of files, communications and
  notices.

            

    

    

    Article
21 Contract Effectiveness and Other Matters

     

    
      
        	
                1.

              	
                The
      contract shall enter into effect upon the date of two parties’ signature
      or seals.

              

      

    

    
        

      
        	
                2.

              	
                During
      this contract becoming effective, any lenient, extending or delay over the
      interests and rights hereof described in this contract the lender entitles
      to borrower and guarantor poses no harm, influences or limitation to
      lender’s due interests and rights according to the contract and related
      laws or regulations. It is not regarded to lender’s abandon of the rights
      and interests hereof prescribed in the contract and it also gives on
      impacts on lender’s any obligation under the clauses of this
      contract.

              

      

    

    
       

      
        	
                3.

              	
                In
      event of any time, this contract’s any clause becoming illegal, invalid or
      unenforceable in all aspects does not affect or harm other clauses’
      legality, validity or enforceability in this
  contract.

              

      

    

    
       

      
        	
                4.

              	
                In
      order to the convenience in reading of this contract, subtitles are put
      in, which can not be used as explanation to this contract or for any other
      purpose.

              

      

    

     

    
      	
              5.

            	
              The
      appendices hereto in this contract are the inalienable parts and have the
      legally of equal effect as the contract
text.

            

    

     

    
      	
              6.

            	
              This
      contract is made in four originals. The borrower, lender and
      (    ) keep (  ) original of the four. Each
      one has the legally of equal
effect.

            

    

    

    Article
22 Notary and Self-imposed Compulsory Execution

     

    
      	
              1.

            	
              This
      contract should be acknowledged by Notary Public Office appointed by The
      People’s Republic of China if the loaner proposes any notary
      request.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              2.

            	
              This
      contract is entitled with the effect of compulsory execution after
      notarized. If the borrower fails to fulfill obligation or the promissory
      lender realizes creditor’s right according to legal regulations or laws,
      the lender reserves the right to apply for the direct compulsory execution
      to People’s Court with
jurisdiction.

            

    

    

    Article
23 Supplementary Clauses:

    

    The above
promissory notes are the irrevocable promise and indispensable attachments in
relation to all the credit business agreements between the loaner and
debtor.

    

    
      
        	 
      	 
      	
                LENDER (Official
      Seal)     

              
	 
      	 
      	 
      
	 
      	 
      	
                December
      14 2009

              

      

    

    

    BORROWER(S)
(Official Seal)

     

    LEGAL
REPRESENTATIVE(S) OR AGENT (Official Seal)

    
      
        	
                
                   

                

              	
                December
      14 2009Unassociated Document

    

    EXHIBIT
10.13

    SPD
BANK

    

    Working
Capital Loan Contract

    No.
70062010280025

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Working
capital loan contract

     

    Borrower: Wuhan Kingold Jewelry Co.,
Ltd. __

    

    Lender:SPD BANK WUHAN
BRANCH

     

    View:

     cash
flow needs for the borrower, the lender raised liquidity to the loan
application: After review, the lender agrees to the terms of the contracts and
loans. In order to clarify the rights and obligations of both parties are under
the relevant PRC laws and regulations, laws and regulations, agreed by both
parties. Conclude this contract to bring about compliance.

    Colleagues
recognized the borrower with the lender following the primary terms

    

    This
contract between the borrower and the loan of the loan documents signed by the
independent

    

    PART  I:  Commercial
terms

     

    Types of
loans:@
Short-term liquidity loans

      @
Long-term working capital loans

    2. The
loan amount under the contract for the _RMB__( currency )_15million_ RMB
(Traditional)

    3.Under this
contract for the specific purpose loans :__Capital turnover and gold
purchasing.

    4.
Borrowings under this contract period: from the first time from the date
of  one year(or 12 months). The actual withdrawal date and repayment to the
lender, both for the IOU several people (borrowing certificate) recorded on the
date. Final repayment date of the contract shall not exceed the borrowing
period. Loan certificate is an integral part of this contract.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.
The interest rate for borrowing under the contract

    (1) RMB
interest rate:

    Published
by the People's Bank of China with the same period the benchmark lending
interest rate of floating 5% grade, that is signed

    This
contract is identified as 5.5755% per annum

     

    (2)
borrowing means interest settlement

    Quarterly
interest settlement, the more interest settlement date lonely twenty (20)
days

    

    (3) The
interest rate adjustment under a contract of RMB way: If the alignment of the
People's Bank of China benchmark lending rate, the time of the benchmark
interest rate loans loans day using the People's Bank of China, with the level
of the benchmark lending rate over the same period: loans under this contract
After the event the borrower paid during the base central bank to adjust
interest rates, then: the interest rate is not adjusted.

    6.
Penalty Rate under this agreement:

    1) The
penalty rate of overdue is the loan interest at the date of overdue plus
()%.

    2)
Diverting the loan money in other ways which is not the way described in the
agreement, then the penalty rate is the loan interest at the date of diverting
the loan money plus ()%.

    7. With
withdrawals under the loan from __May 6th of _2010 to _June 6th of 2010_ months
ended

    

    8. Under
the borrower's withdrawal plan is as follows:

    
      

      
        	
                NO.

              	
                Withdrawal
      period

              	
                Withdrawal
      Amount

              	 
	 
      	 
      	 
      	 
	
                1

              	
                May
      6th
      of 2010

              	
                15million

              	 
	 
      	 
      	 
      	 
	
                2

              	 
      	 
      	 
	 
      	 
      	 
      	 
	
                3

              	 
      	 
      	 
	 
      	 
      	 
      	 
	
                4

              	 
      	 
      	 
	 
      	 
      	 
      	 
	
                5

              	 
      	 
      	 

      

      

      9. Under
the loan repayment plans are as follows:

      

      
        	
                1

              	
                May
      5th
      of 2011

              	
                15million

              	 
	 
      	 
      	 
      	 
	
                2

              	 
      	 
      	 
	 
      	 
      	 
      	 
	
                3

              	 
      	 
      	 
	 
      	 
      	 
      	 
	
                4

              	 
      	 
      	 
	 
      	 
      	 
      	 
	
                5

              	 
      	 
      	 
	 
      	 
      	 
      	 

      

      

        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

    

     

    10. Loan
amount not less than RMB  one Million.

     

    11.
Account opening:

    (1) the
borrower in the lender at the opening of the general settlement of business
is:

    Bank
:SPD BANK WUHAN
BRANCH

    Account
Name : Wuhan
Kingold Jewelry Co., Ltd.

    Account
: 70080154700001970

    

    (2) the
borrower in the capital return under the contract account are:

    

    Bank
: SPD BANK WUHAN
BRANCH

    Account
Name : Wuhan Kingold Jewelry Co.,
Ltd.

    Account:70080154700001970

    12.
Trustee to pay the lender: single payment amount exceeding (the amount of
currency )__5million   

    Borrowing
funds to pay, the lender should be entrusted with payment.

    

    13.
Self-payment in the borrower, the borrower should be every _one__ month to borrow
funds to pay the lender to submit summary reports.

    14.
Borrowers also agree to guarantee obligations under the contract of the
guarantor and guarantee contracts include:

    Mortgagor
_ Wuhan Kingold Jewelry Co.,
Ltd " mortgage contract "number
(ED7006200900000012-1.2,  ED7006200900000013)

    

    15.
Breach of contract processing.

         Penalty:
the equivalent amount of 5%( loan capital)

    

    16
contract __two_ copies of
originals, of which_one_ copies of the
borrower implementation, enforcement _one_ copies of the
lender.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    PART  II
: General Conditions

    

    Article  I : LOAN

    

    Borrower
irrevocably agree and acknowledge: the borrower under this contract at any time
according to discretion of the lender of extraction: the borrowers receiving
loans at the discretion of the date on a regular or ad hoc reviews to determine
whether to give the borrower Any form of loans: Although this contract or any
other document of any other provision, the lender will always have the right to
require the borrower to immediately pay off all loans. Lenders have the right to
terminate or suspend all or part of the loan, the borrower to cancel any further
use of the loan, without notice to the Borrower to achieve.

    

    2 The
contract required under the loan agreement in accordance with the contract used
for the purposes of borrowing, the borrower not to misappropriate, misuse of the
loans for investment in fixed assets, equity and other investments, may not be
used against the production, operation and use of, or other areas do not meet
the working capital borrowing activities.

    

    Article  II: Method
of interest rate and interest-bearing borrowings

    

    1. Unless
otherwise agreed, the contract the lender under the loan interest loans from the
date of the withdrawal amount and the actual number of days occupied by income.
The number of days including the first day of occupancy, except the last day.
Japanese interest rate = monthly interest rate / 30, the monthly interest rate =
APR / 12.

    2. The
lender the right to a borrower (called the contract "expired", including the
lender announced that the case of loans ahead of maturity) to meet the
outstanding loan principal, from the late date, according to the contract
Overdue interest rate according to the actual number of days past due past due
interest, principal and interest until the borrower until the
settlement.

    3. The
borrower fails to use the loan amount of the agreed purpose, the lender has full
use of their default loan amount, from the date of breach of contract,
misappropriation of contract by the penalty rates in accordance with the actual
number of days of default penalty interest income, until principal and interest
repayment until the borrower.

    4.
Several lenders who can not pay the interest on time (including regular
interest, overdue penalty interest, misappropriation of penalty), since the
expected date, a late penalty in accordance with the contract interest rate
interest payment date of the contract terms recovery of profits, according to
the actual number of days overdue.

    5.
Interest rate market or market paralysis

    (1) loan
payment under this contract, if the People's Bank of China to implement
market-oriented interest rate policy of the RMB, the Borrower shall consult jade
lender to determine the interest rate criteria, such as negotiations began in
five bank business days after the agreement can not be views, the Borrower shall
not agree on the date of the thirty-one days to pay off all bank business loan
principal and interest. (For RMB)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (2) The
payment under the contract of loan, if the relevant interest in the offer
period at 11 o'clock (London time). Not a relevant bank to the London Interbank
money market interest rate major banks to offer U.S. dollar deposits, the
Borrower shall consult with the lender to determine the replacement rate:
if after consultation opened 5 banking business days can not agree, then price
can not agree on who should be the date of the thirty business days to pay off
all bank loans principal and interest. (For foreign currency)

    

    Article  III:    Withdrawal

    

    1. Before
the first withdrawal, the Borrower shall meet the following conditions, but no
obligation to review the lender or the conditions of the authenticity of the
following documents:

    (1) In
accordance with the time of the contract submission of withdrawal application
has been completed "by the (credit) of the certificate" and other relevant
documents;

    (2) The
guarantee of this contract and the corresponding contract (if any) have been
signed and remains in force, the establishment of a security right has been
effective;

    (3) to
the borrower current valid business license, articles of association, drawing on
recent financial statements;

    (4) to
the Board of the Borrower or any other organization with the same effect to the
borrowing resolution, the legal representative of the authorized representative
of the power of attorney and legal representative, authorized representative
sub-sample of the original;

    (5) The
borrower has been in accordance with the requirements of lenders lenders
clearing account at the opening general account and the capital return and the
two sides agreed to other accounts (if any);

    (6)
Borrower to perform its obligations under this contract, no breach of the
contract time;

    (7) the
Lender from time to time other documents required or other conditions required
by the lender.

     

    1. In
addition to the first withdrawal, but before each withdrawal, the Borrower shall
meet the following conditions, but the lender has no obligation review the
authenticity of the following documents or conditions;

    (1)
contract by the time and manner of withdrawal of the application submitted has
been completed "by the (credit) of the certificate" and other relevant
documents;

    (2) the
borrower travel obligations under this contract, no event of default under the
contract;

    (3) the
lender is not required for other documents or other conditions required by
lenders

    

    2.
Withdrawal

    (1) The
Borrower shall withdraw in accordance with this contract a one-time or phased
withdrawal plan, and withdrawals at maturity in each of the three bank business
days before the withdrawal procedures apply to the lender.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (2)
borrowers need to postpone the withdrawal date of such change shall be due on
the withdrawal of the three bank business days before the consent of the
lender's consent, and pay the lender a result suffered loss (loss of interest =
delay provided models of interest - interest on demand deposits over the same
period)

    (3) the
borrower to cancel all or part of undrawn loans, should determine the withdrawal
or the withdrawal of the termination of three bank business days before the
application is made as loans, the lender agreed to before the cancellation, the
borrower is recognized that failure to complete the withdrawal of the Ministry
of funds provided, not to mention some of the borrower should pay the commitment
fee.

    (4) In
determining the withdrawal date of the borrower or the withdrawal period, no
date for withdrawal is not to defer the application procedures for the loan, the
lender may notify the borrower within three banking business days for the
relevant procedures; handled overdue, loans have all canceled undrawn
loan.

    (5) of
this section of the agreement have been timely, as long as the loan has not yet
issued, the loan is entitled to reject the borrower's withdrawal
application and cancel the loan under this contract in whole or in
part.

    

    Article
IV:  Account opening and management of

    

    1.
Borrower should have signed this contract is opened in the lender at settlement
account and capital returns, general accounts, and the two sides agreed to open
other accounts (if any). Borrower agrees that the lender the borrower's previous
account of the implementation of monitoring.

    2. A
general settlement clearing account used to account for the borrower at loan
application and loan funds to cover the release of funds, the funds in
accordance with the demand deposit account rates.

    

    3 confirm
the borrower, capital returns based account of principal and interest under the
contract of loan repayment is also transferred from the capital return accounts.
Borrower

    Advanced
revenue stream or flow of the borrower's total should be advanced into the
capital to return accounts.

    

      Borrowers
that in each of the debt service under the contract within three days before the
date of the borrower's capital account balance of funds withdrawn from
circulation shall not be less than the date of the borrower the amount of debt
service. The Borrower agrees that, in the debt within three days before the date
of its loans to borrowers who have the right to the funds withdrawn from
circulation would lead to capital account balance is less than the amount of
current external debt service payments should be restricted acts or refusal, to
ensure that capital returns of capital account balance of the current period
should be sufficient to cover debt service.

        Lenders
account for all money withdrawn from circulation on the monitor, when the
capital returns of the abnormal flow of funds, the lender has the right to cause
the borrower to identify and take appropriate action.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Article
V: Payment Supervision

    

    1. The
Borrower agrees that the lender the right to pay or entrusted by the lender and
the borrower funded the loan funds were paid to manage and control the payment,
to monitor the loan funds used for the purposes agreed in this
Contract.

    

    Trustee
to pay the lender, the lender is based on the borrower's withdrawal application
and payment of commission, loan funds will be paid by the borrower account the
use consistent with the contract borrowers trading partners.

     

    Borrowers
to pay their own means the lender the borrower's withdrawal in accordance with
set loan accounts distributed to the borrower after payment by the borrower to
comply with the contract independently of the borrower uses the transaction
object.

        

    2.
Borrower agrees that if the lender is the borrower jade newly established
business relationship with credit the borrower's credit status at the general,
or the single payment amount exceeds the amount of the loan contract funds to
pay, or other circumstances determined by the lender, should be entrusted with
the lender payment.

    

    Payment
by the lender trustee, the lender has advised the loan under the loan contract
purposes, the audit borrowers pay an application listed in the payment of an
object, whether the payment amount and other information with the appropriate
contract and other evidence consistent with the morning examination and
approval, lender will loan funds paid by the borrower to the borrower account
transaction objects.

     

    1. The
borrower to the lender when the loan funds to apply for external payments, the
lender should be submitted to comply with the requirements of evidence,
including but not limited to:

    (1)
comply with the contract payment purposes use of documents;

    (2)
morning, and a true reflection of the contract obligation to pay the borrower a
written document, signed a contract for the need to pay the costs, fees and
charges should provide power sector policies and standards;

    (3) the
corresponding invoices or receipts, such as can not get paid at the same time,
the Borrower shall pay promptly after payment of the corresponding invoice or
receipt of money

    (4) legal
and valid proof of payment

    (5)
lenders and other documents required by the

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.
Borrower shall within three working days before the proposed withdrawal to
submit withdrawal applications for loans and make a payment by the lender or the
borrower entrusted with self-payment. Confirm the borrower, the lender has
reviewed all the relevant information whether borrowers meet the contract
payment terms, and the appropriate method of payment the borrower has a right to
decide.

    3. Paid
by the borrower own way, the borrower should be based on the contract, summary
report regularly to the lender to pay self-funding situation of the borrower,
the lender right through account analysis, evidence identification, field
verification of the borrower, etc. whether people borrowing to pay for the
agreed purpose and mode of payment agreement.

    4.
Borrower conformation, should be the lender of funds to pay for loans to pay
costs arising from the exchange program, in place of the remittance fee, the
lender is entitled to directly deduct the actual amount.

    5.
Generous and payment of the loan process, the borrower about the situation
there, the lender the right to require the borrower to pay additional terms and
conditions for withdrawal, or change the loan payments were to stop issuing and
payment of loan funds:

    

    (A) the
drop in credit

    (B) of
the main business profitability is not strong

    (C) Loan
funds abnormal

    

    Article
VI: Repayment

    

    1.
Borrower shall repay the plan contract timely and full repayment of loan
principal and interest costs very relevant, the Borrower hereby irrevocably
authorized the lender the right to fire on the loan maturity date to meet the
situation in their contract to open the loan account at the initiative of people
deduct the amount of the above claims.

    2. The
borrower early repayment of loans, it should be expected to repay the bank prior
to 10 business days written notice prior to the consent of the lender and the
lender's written consent. Without the agreement prior written consent of the
lender, the borrower still be in accordance with the terms and interest rate
contract debt service on loans without the written consent of the borrower ahead
of the return part, the lender will charge a one-time borrowers
penalty.

           The
lender agreed to early repayment as a loan due in advance. In this case, the
lender has the right to require the borrower to pay according to contract a
certain penalty.

           Early
repayment of money should the borrower the actual number of days of interest,
together with the return of the principal: early repayment of the principal
amount of not less than the amount stipulated in the first part of the contract:
the return of the principal, in accordance with the contract reverse the order
of repayment plan loan principal is reduced

    

    3. For a
legitimate reason the borrower can not repay on time, and should be the
repayment period of the contract the first 30 business days before the bank made
loans to the lender extension application and prepare the necessary materials to
handle the extension formalities, the guaranteed under the contract of loan,
mortgage or pledge guarantee, it should be the guarantor, mortgagor, the quality
of the book and agreed to furnish proof of whether the decision by the lender
agree to extension, the borrower has not applied for renewal has not been
approved by the lender, and its transferred from the due date of loans overdue
loans.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article
VII:  Representations and Warranties

    

    The
borrower to the lender to make the following representations and warranties,
representations and warranties made at the signing of this contract and the
effective period of this contract remain in force.

    1. Borrower system
separate legal entity, with all the necessary legal capacity and can travel in
its own name independently of the contractual obligations and civil
liability.

    2. The
borrower will all sign this contract and have completed the signing of the
contract and fulfill its obligations under this contract required the
shareholders, board of directors or other authorized agencies of all
authorization and approval. The provisions of this contract are the borrower's
real intentions and the borrower is legally binding.

    3. The
execution and performance of this contract does not violate the borrower should
follow the law, including the borrower shall comply with laws, regulations,
local laws and regulations, judicial interpretations and so on.

    4. The
borrower to ensure that all of its issued financial statements (if any) comply
with PRC law, statements give a true, complete, effective and
accurate.

    5.
Borrower to sign and abide by the course of performance of this contract, the
principles of honesty and trustworthiness to the lenders, including all of the
guarantor of its own information, document information are really effective,
accurate to complete.

    6. The
borrower to ensure the effective completion of this Contract and to the lawful
discharge of the necessary filing and registration procedures and pay the
associated costs.

    7. In the
business activities in strict compliance with the law, in strict accordance with
the provisions of the borrower's business licenses or legally authorized to
carry out the business of business scope, time and registration inspection
procedures, production and operation of legal, with the ability to operate
continuously, have a legitimate source of repayment.

    8. Do not
give up any claims due, unpaid or otherwise inappropriate not to dispose of
existing main property.

    9.
Borrower Lender has disclosed it to know or should know, the decision on whether
to grant the lender under the loan contract and the status of important
facts.

    10.
Borrowers to ensure their credit in good condition, no major adverse
record.

    11. The
borrower to ensure that there is no performance on the borrower's ability to
cause or threaten to cause significant adverse effects of other conditions or
events.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Article
VIII:    Contract matters

    

    Borrowers
and lenders agree as follows:

    

    1. The
borrower to ensure that business according to law, in accordance with the
purposes of the loan contract, not diverted for other purposes, the borrower
shall provide the loan as required on a regular basis, including monthly and
annual reports including financial and accounting information related to
actively support the loans people use the borrower and the borrower to supervise
operation, the lender can always check in various ways, monitoring the use of
the borrower.

    2. The
borrower should be based on the contract, the application, "borrow (credit) of
the certificate" provisions of the timing, amount, currency and interest rate to
repay the loan principal and interest under the contract, the actual time for
payment, amount, currency, interest rates should be "borrowed (credit) of the
certificate," recorded in the norm.

    3. The
borrower to ensure that the event or will be issuing any guarantor of the status
of the property sufficient to guarantee performance of obligations or materially
and adversely affect the ability of the time, the borrower will be provided in a
timely manner approved by the lender of the new guarantees.

    4.
Borrower commitment, the borrower without the prior written consent of the
lender not to take the following actions:

    

    (1) the
sale, gift, lease, lend, transfer, mortgage, pledge, dispose of its major assets
such as all or most.

    (2)
contracting, leasing, joint venture, foreign investment, joint-stock reform,
property rights transfer, reduction, suspension, dissolution, bankruptcy,
reorganization and other are likely to affect the behavior of borrowers
repayment ability.

    (3) amend
the articles of association or other design documents, change the business
scope.

    (4) is
sufficient for the third party to fulfill its financial position or its
obligations under this contract material adverse effect on the ability of the
guarantee.

    (5) Other
long-term debt prepayment.

    (6)
Signature of the borrower to fulfill the obligations under this contract have a
material adverse impact ability to contractual agreements or commitments with
the obligations of the impact.

    

      5
commitment to the borrower, when the following events occurs, the borrower will
be the date of the incident immediately notify the lender. The incident occurred
in five bank business days from the date of the relevant notice served on the
original purchase price by:

    

    (1)
occurs on time, to a borrower in the contract, the representations and
warranties made in a false, inaccurate or invalid.

    (2) the
borrower or its controlling shareholders, who control the world or its
affiliates for the design litigation, arbitration or its assets were seized,
sealed, frozen, or is taken to enforce the effectiveness of other measures with
the same, or their legal representative, responsible person, director, or senior
management to monitor involved in litigation, arbitration or other enforcement
measures.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (3) the
legal representative of the borrower or his authorized agent, responsible
people, mainly financial officer, address, business name, office space and other
items is changed.

    (4) The
application for restructuring other creditors, bankruptcy or revocation of the
superior administrative unit.

    (5) some
other enough to affect adversely the borrower solvency issues.

    

    1. The
borrower to ensure repayment, subject to the normal order in which the priority
of repayment of other loans, current and future caused not sign any loan
under this contract for a contract or subordination agreement.

    

    The
Borrower shall repay as much as possible in the same currency and payment of
loan principal and interest under this contract, the event of the borrower to
repay the debt situation of the different currencies, the borrower should make
their own, or authorize the lender to the funds in different currencies under
this contract "deduct the agreed" in the way of convertible loans under the
contract the cost of the currency return of the loss of principal and interest,
the resulting costs borne by the borrower, guarantor funds in different
currencies on behalf of the borrower to repay debt, from the guarantee contract
"deduction agreement", the resulting costs borne by the borrower.

    

    3. The
guarantees under the contract in the face of a particular situation or change,
the borrower should be in accordance with the lenders who provide loans Yes
seeking timely approval of other security features of the particular situation
or change include, but are not limited to, but the man stopped production, out
of business, dissolution of the business operation for rectification,
etc.

    

    4. Loans
to borrowers who have the right to footer site or off-site residual due
diligence on the borrower's financial situation, financial status, loan funds,
repayment of loans, etc. After the inspection, the borrower is obliged to
actively cooperate with the lenders payment management, post-loan management and
related checks.

    

    5. Loans
to borrowers who have the right to advance capital to return the situation back
under the loan contract.

    

    Article
IX:  Retain or transfer agreement

     

    1, the
Borrower agrees, in connection with this Contract any borrowing related to the
debt due and payable, the lender the right to directly deduct the borrower in
the Shanghai Pudong Development Bank settlement accounts opened by the general
and / or capital returns account The funds used to pay off the debt due and
payable. General settlement account and / or capital returns of funds in the
account not sufficient to repay debt, lenders have the right to deduct the
borrower in the Shanghai Pudong Development Bank to open branches in any of the
other funds in the account.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2, unless
otherwise provided in the State have the right institutions, retain or transfer
the proceeds of the settlement of debt in order to meet the order should
first be used to pay off a borrower can not pay the cost, and then not pay for
the satisfaction of the interest due, Finally, for the satisfaction of the
principal amount due is not paid.

     

    3, retain
or transfer the proceeds with the settlement of the currency to be inconsistent,
according to the following manner;

    

    (1) If
the loan in RMB, then was released by the lender deduct the applicable amount of
the currency and deduct the purchase price of RMB are translated into RMB
settlement, the settlement of loan principal and interest.

    

    (2) If
the borrowing currency for non-RMB currency is RMB deduct, retain or transfer
directly by the lender for the loan currency was published and the offer price
of RMB convertible currency to purchase foreign exchange converted into loans,
the settlement of loans principal and interest.

    

    (3) If
the loan currency and deduct for the RMB and the currency are not inconsistent,
the first was published in accordance with the lender deduct the applicable
amount of the currency and deduct the purchase price of RMB are translated into
RMB settlement after then be released in accordance with the loan lender
currency and the selling price of RMB to purchase foreign exchange currency
converted into loans, the repayment of principal and interest loan.

    

    Article
X:  Claims Proof

    

    Lender's
business operations according to their usual practice, to maintain its
accounting books and the contract related to the operational activities involved
in the accounts to show lender loan amount. Borrower acknowledges that this
contract valid certificate to the borrower debt lender shall issue and record
their own business accounting documents shall prevail.

    

    Article
XI:  And service of notice

    1, sent
to the other party to the contract notice shall be sent to the address specified
in the contract signature page, until the other party notice in writing to
change the address up. Just click this address to send, it is deemed served on
the following dates: the case of letters, sent by registered according principal
place of business after the seventh (7) banking days; if it is served on a
special trip, for the recipients to sign date;

    If fax or
e-mail, fax or e-mail was the day. However, given or delivered to Lender all
notices, demands or other communications shall be effective when received by the
lender is deemed to have been delivered. And by fax or e-mail sent to the Lender
all notices, requests should be made subsequently to the original (with official
seal) to personally hand or mail to confirm the way the
lender.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

         2,
the Borrower agrees that any litigation filed its summons and notice, if sent to
the page specified in the contract signed by the principal business address,
shall be deemed to be served. Change the above address by giving notice of
non-lender, the lender does not take effect.

     

    Article  XII:  Force,
change and disarmament

    

       1,
the contract is signed by both borrowers and lenders both sealed by the legal
representative (responsible person) or his authorized agent after the entry into
force of the signature or seal, to take all of this right under the contract
after the termination of liquidation.

         2,
after the commencement of this contract, the contract either party may change or
terminate the contract early. If need to change the contract or contact, shall
be subject to mutual agreement of the contract, and reached a written
agreement.

     

    Article
XIII: And handling an event of default

    

        1,
an event of default

        One
of the following circumstances shall constitute the Borrower's default on
loans:

       (1)
the borrower in the contract of any representations and warranties or in any
contract made in accordance with the contract or notice, authorizations,
approvals, consents, certificates and other documents made without right or a
misleading, or has been proved to be incorrect or misleading, or prove to be
expired or revoked, or no legal effect.

           (2)
the borrower has violated the first part of this contract "other matters agreed
by the parties" (if any) or the second part of Article VIII of any contract
matters.

           (3)
major cross-borrower event of default, including but not limited to the borrower
any other violation of its loan contract signed, the agreement; or the borrower
not paid their due and payable and other loans, signed contracts, agreements
under debt.

           (4)
the borrower's investors withdrawing funds or transfer of assets or the
unauthorized transfer of shares.

           (5)
Guarantor has or will provide the borrower no longer has the appropriate
security capabilities, or in violation of its security documents
signed.

           (6)
the borrower ceased, production, suspended operations consolidation,
restructuring, liquidation, receivership or trusteeship, dissolution, revocation
or cancellation of business license or bankruptcy.

       (7)
the borrower or guarantor deteriorating financial position, operating at a
serious difficulty, or during their normal business, financial condition or
adversely affect the solvency of the events or circumstances.

       (8)
the Borrower or its controlling shareholders, actual controllers or their
associates involved in significant litigation, arbitration or significant assets
to be seized, seizure, freezing, enforcement or taken other measures to have the
same effect, or their legal representatives person / person in charge,
directors, supervisors or senior management involved in litigation, arbitration
or other enforcement measures have led to the solvency of the borrower adversely
affected.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

      (9)
failure to use the loan agreement, or fails to use the agreed way of borrowing
funds.

      (10)
loan application documents submitted by false information, is
incorrect.

      (11)
does not meet or exceed the financial indicators related to contract
constraints.

      (12)
general settlement accounts / capital returns, the flow of capital account
abnormal.

      (13)
the borrower has other breach of contract sufficient to prevent the normal
performance of this contract acts, or other prejudice the legitimate interests
of the lender.

    

    Article  XIV:   Other
terms

    

      1,
define

        (1)
under the contract referred to "all claims" refers to the loan principal,
interest, liquidated damages and claims arising for the realization of the
various costs.

        (2)
under the contract term "interest", including interest, penalty interest,
compound interest.

        (3)
under the contract term "Banking Day" means the domicile of the loan lenders who
are usually open to the public business of business day, excluding Saturdays,
Sundays (open for business due to holidays, except adjustment) or other
statutory holidays.

        2,
the applicable law

       This
contract laws of the PRC (the date of this contract against Japan, in this does
not include Hong Kong and Macao Special Administrative Region and Taiwan, the
law), in accordance with its interpretation.

       3,
the dispute settlement

       All
disputes concerning this contract should be settled through friendly
negotiation; consultation fails, the lender should the domicile of the people's
court proceedings. During the dispute, the parties shall continue to fulfill the
terms are not involved in the dispute.

       4
Miscellaneous

    (1)
matters not need to supplement this contract, both parties can agree, and
recorded in the first part of this contract, written agreement can be reached,
as the nearby contract. The Appendix (see the first part of this contract) is an
integral part of this contract, and the body of this contract has the same legal
effect.

    (2) in
the life of the contract, the lender against borrower default or other acts of
any grace period or delay the action can not be damaged, affected or limited by
law or lender as a creditor of the contract, shall enjoy all the rights or
interests , nor as the lender of the borrower acts in violation of the contract
authorized, but not as a lender to give up on the borrower's existing or future
breach right to take action.

    (3)
invalidity of any provision of this contract does not affect the validity of
other provisions of this contract. This contract is invalid for whatever reason,
the borrower should bear the repayment of outstanding loan under this contract
were the responsibility of all debts. If that happens, the lender the right to
immediately terminate this contract. Immediately to the borrower may recover
under the contract, all the debts owed by the borrower.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (4) The
Lender may transfer this contract in whole or in part under the right / or
obligations, and in this case, the assignee should have the borrower and / or
bear certain of its contract as the party that should be enjoyed the same rights
and / or obligations. Loans to borrowers who received a notice about the
transfer of claims, under this contract to the assignee liability.

    (5)
Unless otherwise specified in this contract, the contract terms and expressions
related to the annex of this contract has the same meaning.

    (6) The
title under this contract for convenience only read, not as the basis of the
content under the heading.

    

    (No text
below this page)

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    (This is
the signature page, no text)

    

         This
contract is made with the lender following the borrower dated May 6th of 2010 signed on,
the borrower acknowledges that in signing this contract, all the terms of the
two sides have carried out a detailed explanation and discussion, both parties
to the contract There was no doubt that all the terms, the rights and
obligations and responsibilities of the parties to limit or waive the legal
meaning of the terms are accurate understanding.

     

    Borrower
(Official seal)

    Responsible
person or authorized agent (Official seal)

    

    Lender
(Official seal)

    Legal
representative or authorized agent (Official seal)

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