Document:

Exhibit 10.8

 

UNITED STATES OF AMERICA

Before the

OFFICE OF THRIFT SUPERVISION

 

	
   

  	
  )

  	
   

  
	
  In the Matter of

  	
  )

  	
  Order No.: CN 09-12

  
	
   

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  PEOPLES COMMUNITY BANK

  	
  )

  	
  Effective Date: April 29, 2009

  
	
   

  	
  )

  	
   

  
	
  West
  Chester, Ohio 

  	
  )

  	
   

  
	
  OTS
  Docket No. 08097

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
				

 

AMENDED ORDER TO CEASE AND DESIST

 

WHEREAS, PEOPLES COMMUNITY BANK, West Chester,
Ohio, OTS Docket No. 08097 (Association), by and through its Board of
Directors (Board) has executed a Stipulation and Consent to Issuance of Amended
Order to Cease and Desist (Stipulation); and

 

WHEREAS, the Association, by
executing the Stipulation, has consented and agreed to the issuance of this
Amended Order to Cease and Desist (Amended Order) by the Office of Thrift
Supervision (OTS) pursuant to 12 U.S.C. § 1818(b); and

 

WHEREAS, pursuant to delegated
authority, the OTS Regional Director for the Central Region (Regional
Director), is authorized to issue amended orders to cease and desist where a
savings association has consented to the issuance of an amended order.

 

NOW, THEREFORE, IT IS ORDERED that:

 

Compliance with Laws, Rules, and Regulations

 

1.
The Association and its institution-affiliated parties, as that term is defined
in

 

 

12
U.S.C. § 1813(u), and its successors and assigns shall cease and desist from
all unsafe or unsound practices, including: operating with inadequate capital
in relation to the kind and quality of assets held by the Association;
operating with an inadequate loan valuation reserve; operating with a large
volume of poor quality loans; and operating in such a manner as to produce low
earnings.

 

Amendment of Existing Order

 

2.
This Amended Order supplements and amends OTS Order No. CN 08-06,
previously issued by the OTS against the Association on April 2, 2008, and
which remains in full force and effect. OTS Order No. CN 08-06 is amended
by the addition of the following subheading and paragraphs:

 

Increase
and Maintain Capital

 

17.    (a) Within seventy-five (75) days of
the Effective Date of the Amended Order, the Association shall achieve and
maintain: (i) a Tier 1 (Core) Capital Ratio of at least eight percent
(8%); and (ii) a Total Risk-Based Capital Ratio of at least twelve percent
(12 %).

 

(b) Within
fourteen (14) days of the Effective Date of the Amended Order, the Association
shall, pursuant to Board authorization, submit to the Regional Director a
written contingency plan acceptable to the Regional Director that will be
implemented by the Association in the event the Association becomes critically
undercapitalized as defined in 12 C.F.R. § 565.4(a)(5) (Contingency Plan). The
Contingency Plan shall detail the actions to be taken within specific time
frames to achieve one of the following results: (i) merger with or acquisition
by another federally insured institution or holding company thereof, or (ii) voluntary
liquidation by, among other things, filing the appropriate applications with
OTS in conformity with federal laws and regulations. The Contingency Plan shall
be implemented immediately if the Association

 

2

 

becomes
critically undercapitalized or upon notification by the Regional Director of
the requirement to implement the Contingency Plan. Once implemented, the
Association shall submit to the Regional Director written status reports
detailing the Association’s actions taken and progress in implementing the
Contingency Plan no later than the 1st and 15th days
of each month.

 

18.                                 Effective
immediately, Association shall comply with the requirements of 12 C.F.R. §
337.6(b)(3) and shall not: (i) accept, renew or roll over any brokered
deposit, as that term is defined at 12 C.F.R. § 337.6(a)(2); (ii) act as a
deposit broker, as that term is defined at 12 C.F.R. § 337.6(a)(5); or (iii) solicit
deposits by offering an effective yield on insured deposits that exceeds the
limitations set forth in 12 C.F.R. § 337.6(b)(3)(ii).

 

Effective Date of Amended Order, Incorporation of
Stipulation

 

3.                                       This Amended
Order is effective on the Effective Date as shown on the first page. The
Stipulation is made a part hereof and is incorporated herein by this reference.

 

IT IS SO ORDERED.

 

 

	
   

  	
  OFFICE OF THRIFT SUPERVISION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Daniel T. McKee

  
	
   

  	
   

  	
  Daniel
  T. McKee

  
	
   

  	
   

  	
  Acting
  Regional Director, Central Region

  
	
   

  	
   

  
	
   

  	
  Date:
  See Effective Date on page 1

  

 

3

 

UNITED STATES OF AMERICA

Before the

OFFICE OF THRIFT SUPERVISION

 

	
   

  	
  )

  	
   

  
	
  In
  the Matter of

  	
  )

  	
  Order
  No.: CN 09-12

  
	
   

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  PEOPLES COMMUNITY BANK

  	
  )

  	
  Effective Date: April 29, 2009

  
	
   

  	
  )

  	
   

  
	
  West
  Chester, Ohio 

  	
  )

  	
   

  
	
  OTS
  Docket No. 08097

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  

 

STIPULATION AND CONSENT TO ISSUANCE OF

MODIFIED ORDER TO CEASE AND DESIST

 

WHEREAS, the Office of Thrift
Supervision (OTS), acting by and through its Regional Director for the Central
Region (Regional Director) issued an Order to Cease and Desist (OTS Order No. CN
08-06) (Order) against Peoples Community Bank, West Chester, Ohio, OTS Docket No. 08097
(Association) pursuant to 12 U.S.C. § 1818(b) that became effective on April 2,
2008 (Order);

 

WHEREAS, the Regional Director,
pursuant to delegated authority, is authorized to modify the Order where the
Association has consented to the issuance of an modified order to cease and
desist; and

 

WHEREAS, the Association desires to
cooperate with OTS to avoid the time and expense of an administrative cease and
desist proceedings by entering into this Stipulation and Consent to Issuance of
Modified Order to Cease and Desist (Stipulation) and, without admitting or
denying that such grounds exist, but only admitting the statements and
conclusions in Paragraph 1 below concerning Jurisdiction, hereby stipulates and
agrees to the following terms:

 

 

1.                                      Jurisdiction.

 

(a)                             The Association
is a “savings association” within the meaning of 12 U.S.C. § 1813(b) and
12 U.S.C. § 1462(4). Accordingly, the Association is “an insured depository
institution” as that term is defined in 12 U.S.C. § 1813(c); and

 

(b)                            Pursuant to 12
U.S.C. § 1813(q), the Director of OTS is the “appropriate Federal banking
agency” with jurisdiction to maintain an administrative enforcement proceeding
against a savings association. Therefore, the Association is subject to the
authority of OTS to initiate and maintain an administrative cease-and-desist
proceeding against it pursuant to 12 U.S.C. § 1818(b).

 

2.                                      OTS Findings of Fact.

 

Based upon the April 9, 2009 limited examination of the
Association, the OTS finds the Association is currently engaged in unsafe and
unsound practices, including operating with inadequate capital in relation to
the kind and quality of assets held by the Association; operating with an
inadequate loan valuation reserve; operating with a large volume of poor
quality loans; and operating in such a manner as to produce low earnings.

 

3.                                      Consent.

 

The Association consents to the issuance by OTS of the accompanying
Modified Order to Cease and Desist (Modified Order). The Association further
agrees to comply with the terms of the Modified Order upon the Effective Date
of the Modified Order and stipulates that the Modified Order complies with all  requirements of
law.

 

4.                                      Finality.

 

The  Modified Order
is issued by OTS under 12 U.S.C. § 1818(b) and upon the Effective

 

2

 

Date
it shall be a final order, effective and fully enforceable by OTS
under the provisions of 12 U.S.C. § 1818(i).

 

5.                                       Waivers.

 

The Association waives the following:

 

(a)                                  The right to be
served with a written notice of OTS’s charges against it as provided by 12
U.S.C. § 1818(b) and 12 C.F.R. Part 509;

 

(b)                                 The right to an
administrative hearing of OTS’s charges as provided by 12 U.S.C. § 1818(b) and
12 C.F.R. Part 509;

 

(c)                                  The right to
seek judicial review of the Modified Order, including, without limitation, any
such right provided by 12 U.S.C. § 1818(h), or otherwise to challenge the
validity of the Modified Order; and

 

(d)                                 Any and all
claims against OTS, including its employees and agents, and any other
governmental entity for the award of fees, costs, or expenses related to this
OTS enforcement matter and/or the Modified Order, whether arising under common
law, federal statutes or otherwise.

 

6.                                       OTS Authority Not Affected.

 

Nothing in this Stipulation or accompanying Modified Order shall
inhibit, estop, bar or otherwise prevent OTS from taking any other action
affecting the Association if at any time OTS deems
it appropriate to do so to fulfill the responsibilities placed upon OTS by law.

 

7.                                       Other Governmental Actions Not Affected.

 

The Association acknowledges and agrees that its consent to the
issuance of the Modified Order is solely for the purpose of resolving the
matters addressed herein, consistent with Paragraph 6 above, and does not
otherwise release, discharge, compromise, settle, dismiss,

 

3

 

resolve,
or in any way affect any actions, charges against, or liability of the
Association that arise pursuant to this action or otherwise, and that may be or
have been brought by any governmental entity other than OTS.

 

8.                                      Miscellaneous.

 

(a)                             The laws of the United
States of America shall govern the construction and validity of this
Stipulation and of the Modified Order;

 

(b)                            If any provision of this
Stipulation and/or the Modified Order is ruled to  be invalid, illegal, or
unenforceable by the decision of any Court of competent jurisdiction, the
validity, legality, and enforceability of the remaining provisions hereof shall
not in any way be affected or impaired thereby, unless the Regional Director in
his or her sole discretion determines otherwise;

 

(c)                             All references to OTS in
this Stipulation and the Modified Order shall also mean any of the OTS’s
predecessors, successors, and assigns;

 

(d)                            The section and paragraph
headings in this Stipulation and the Modified  Order are for convenience
only and shall not affect the interpretation of this Stipulation or the Modified
Order;

 

(e)                             The terms of this
Stipulation and of the Modified Order represent the final agreement of the
parties with respect to the subject matters thereof, and constitute the sole
agreement of the parties with respect to such subject matters; and

 

(f)                               The Stipulation and Modified
Order shall remain  in effect until terminated,
modified, or suspended in writing by OTS, acting through its Regional Director
or other authorized representative.

 

9.                                      Signature of Directors/Board Resolution.

 

Each Director signing this Stipulation attests that he or she voted in
favor of a Board

 

4

 

Resolution
authorizing the consent of the Association to the issuance of the Modified
Order and the execution of the Stipulation. This Stipulation may be executed in
counterparts by the directors after approval of execution of the Stipulation at
a duly called board meeting.

 

WHEREFORE, the Association, by its directors, executes this
Stipulation.

 

	
  PEOPLES
  COMMUNITY BANK

  	
   

  	
  OFFICE
  OF THRIFT SUPERVISION

  
	
  West
  Chester, Ohio

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  Donald L. Hawke

  	
   

  	
  By:

  	
  /s/
  Daniel T. McKee

  
	
  Donald
  L. Hawke, Director

  	
   

  	
   

  	
  Daniel
  T. McKee

  
	
   

  	
   

  	
   

  	
  Acting
  Regional Director

  
	
   

  	
   

  	
   

  	
  Central
  Region

  
	
  /s/
  John L. Buchanan

  	
   

  	
   

  	
   

  
	
  John
  L. Buchanan, Director

  	
   

  	
  Date:
  See Effective Date on page 1

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/
  Nicholas N. Nelson

  	
   

  	
   

  	
   

  
	
  Nicholas
  N. Nelson, Director/Chairman 

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/
  Thomas J. Noe

  	
   

  	
   

  	
   

  
	
  Thomas
  J. Noe, Director

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/
  John E. Rathkamp

  	
   

  	
   

  	
   

  
	
  John
  E. Rathkamp, Director

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/
  James R. Van DeGrift

  	
   

  	
   

  	
   

  
	
  James
  R. Van DeGrift, Director

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/
  Jerry D. Williams

  	
   

  	
   

  	
   

  
	
  Jerry
  D. Williams, Director

  	
   

  	
   

  	
   

  

 

5

 

RESOLUTIONS OF THE

BOARD OF DIRECTORS OF

PEOPLES COMMUNITY BANK

 

AMENDED OREDER TO CEASE AND DESIST

Dated April 28, 2009

 

I,
Fred L. Darlington, being the duly qualified Secretary of Peoples Community
Bank (the “Bank”), hereby certify that the following is a true, correct and
complete copy of the resolutions duly and validly adopted by the Board of Directors
of the Bank (the “Board”) at a meeting duly called and held on April 28,
2009, that at said meeting a quorum was present and that the resolutions have
not been rescinded or modified and are now in full force and effect:

 

WHEREAS, the Board has received an Amended Order to Cease
and Desist that primarily addressed the capital deterioration and asset quality
of the Bank; and

 

WHEREAS, the Stipulation and Consent to issuance of the
Modified Order to Cease and Desist was reviewed and deemed acceptable as
presented by the Office of Thrift Supervision (“OTS”).

 

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby
agrees to the Stipulation and Consent to the Issuance of the Modified Order to
Cease and Desist and authorizes the Bank’s consent and execution to the
issuance of the Modified Order and the Stipulation in the form presented; and

 

BE IT FURTHER RESOLVED, that the executive officers
of the Bank are hereby directed to take such necessary corrective measures as
set forth in the Stipulation and Modified Order and to do and perform all such
acts and things as they deem necessary or appropriate in order to carryout the
requirements under the Stipulation and Modified Order.

 

IN WITNESS WHEREOF, I Fred L. Darlington,
Secretary, hereby set my hand this 28th day of April 2009.

 

 

	
   

  	
  /s/ Fred L. Darlington

  
	
   

  	
  Fred L. Darlington

  
	
   

  	
  Secretary

  

 

[SEAL]

 

 

	
  

  	
   

  	
  Office of Thrift Supervision

  Department of the Treasury

  1
  South Wacker Drive, Suite 2000, Chicago, IL 60606

  Telephone:
  (312) 917-5000 · Fax: (312)
  917-5001

   

  	
   

  Central Region

  

 

VIA FAXSIMILE AND OVERNIGHT MAIL

 

April 29,
2009

 

OTS
Docket No. 8097

 

Board
of Directors

Peoples
Community Bank

6100
West Chester Road

West
Chester, OH 45071

 

Dear
Members of the Board,

 

Enclosed is a copy of the executed Order to Cease and Desist (Order)
and corresponding Stipulation and Consent to Issuance of Order to Cease and
Desist (Stipulation) entered into with the Office of Thrift Supervision. The
Order and Stipulation is effective as of April 29, 2009.

 

If you have questions, please contact me at (312) 917-5084.

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/
  James G. Price 

  
	
   

  	
  James
  G. Price 

  
	
   

  	
  Assistant
  Director

  

 

EnclosuresUnited States Securities & Exchange Commission EDGAR Filing

EXHIBIT 10.13

No. 3200300020090002

Loan Agreement

FUZHOU CITY COMMERCIAL BANK

Borrower (Party A): Fujian Zhongde Technology Co., Ltd.

Address: Longtian FuLu Industrial Zone Fuqing City     

Postal Code: 350315

Representative: Taiming Ou

Tel: 85768370

Creditor (Party B): Longtian Branch, Fuzhou City Commercial Bank Co., Ltd.

Address: Longfei Road Longtian Town Fuqing City

Postal Code: 350315

Representative: Xiaofu Wei

Manager: Youyi Chen 

Tele: 86071635

Fax: 86001636

Party A applies for the loan to Party B, and Party B approves the loan after censorship. Both parties conclude this contract is in accordance with the provisions of laws and regulations, and that both are committed to all items agreed to in this contract.

I. Loan Type: short-term loan

II. Loan Amount: RMB10 million

III. Usage of Proceeds: working capital turnover

IV. Maturity: Contract effective on 4/14/2009, maturity date 4/1/2010

V. IOU

IOU is a part of this contract. If either of the amount or period mentioned above is inconsistent with those in IOU, the latter will prevail.

1.

Interest rates 

(1)

Annual interest rate: 5.84%  

(2)

During signature and loan releasing, if interest rates of People’s Bank of China are changed, choose item A from the following.

A. No change should be made to the above mentioned interest rate. Continue to perform the first item above. 

B. Adjust to the same rate of the same grade loan.

(3)  After loan releasing, if interest rates of People’s Bank of China are changed, choose item A from the following.

A. No change should be made to the above mentioned interest rate. Continue to perform the 

first item above.

B. Adjust to the same rate of the same grade loan.

(4)  If the rates are changed, the penalty and overdue interest of borrowing purposes will also automatically change in correspondence. 

(5)  If interest rates policy of People’s Bank of China is changed, Party B has the right to comply with the state rules without Party A’s permission.

2.

Release of loan

(1) Prerequisite

A. This loan is secured, and all securitization procedures in line with Party B have been done and effective.

B.

Party A has signed off and submitted the IOU according to Party B’s requirements.  

C.

Other prerequisite of release

Blank 

(2) If Party A requires to sub-release the loans, Party A should abide by the following requirements, besides those under Prerequisite (1).

A. Party A applies and obtains Party B’s consent.

B. The sum of the sub-release amounts should not exceed the total loan amount stated under Item II above in this contract.

C. Party A fills and submits IOU in accordance with Party B’s requirements.

3.

Repayment of loan

(1)

Principle of repayment

A. Interest rate is computed by day, (daily rate= month rate/30) and by the exact borrowing days from the date when loan is released. 

B. Interest rate closes on the 20th of each month and returns on the following day. Party A should pay for the interest on the returning day and the remaining principal owed on the last returning day.

C. Party A abides by the principal of paying back interest before principal. As for the amounts Party A returns, Party B recovers by the order of “prior interest owed, (including compound interest)—prior balance of principal—present interest owed—present balance of principal”. Party B has the right to alter the above orders independently. 

D. Party A allows Party B to recover the due interest and principal directly from any bank accounts currently open under Party B. The payment can be delayed to the first business day in the following week, if principal payments are on a weekend or holidays or Party A’s account balance is less than recovering, interest during grace period is calculated normally. If Party A is not able to pay for the full amount by the end of the grace period, penalties would apply ( stated under Item 12).

E. Party A commits to pay the full amount before each deadline date.

(2) Type of repayment 

As agreed by both parties, principal is paid in accordance with the following first type. 

A. One-time repayment by the deadline.

B. Installment repayment as follows. 

  The first phase:   BLANK

  The second phase:   BLANK

  The third phase:   BLANK

  The fourth phase:  BLANK

  The fifth phase:   BLANK

C. BLANK

(3) Prepayment

A. Party A should submit the application to Party B 15 days before the repayment date and request for Party B’s consent. 

B. Interest collected will not be changed if repayment is in advance. Interest of prepayment is calculated by the exact days.

C. Interest of unpaid principal is calculated by normal rate.

D. If principal is paid six months in advance, Party B has the right to collect compensation of prepayment, less than 1% of prepayment.

4.

Security

Party A guarantees Party B the following second and fourth items to fulfill obligations.

A. Sb guarantees loan---BLANK

B. the land, bank accounts and real property of Technology Co. and by the land of Fujian Zhongde Energy Co., Ltd., a wholly owned subsidiary of the Party A (“Energy Co.”).

C. Pledge to provide security---BLANK

D. Others: Taiming Ou, legal representative of Party A, provides irrevocable guarantee of security. 

Security matters mentioned above is a subsidiary contract. 

5.

Rights and obligations of Party A 

(1) Party A has the right to require Party B to release the loan in accordance with the contract.

(2) Party A has the right to apply for extension if requirements needs.

(3) Party A must repay the interest and capital before deadline.

(4) Party A must use the loan by the contract. Any changes should be approved by Party B in writing.

(5) Party A should provide documents on operations, assets and financials upon Party B’s request. Party A must submit balance sheet, income statement and cash flow statement of previous month within the first 10 working days of each month. Party A ensures the authenticity, fairness, completeness and effectiveness of all documents provided. 

(6) Party A must support Party B’s inspection and supervision of its operating, finance and assets. 

(7) Party A must not guarantee the security mentioned in this contract to anyone else before the repayment of interest and capital, if no permission is made by Party B.  

(8) Party A should submit the application to Party B 15 days in advance and request for Party B’s consent, if any such debtor-creditor relationship is affected, including but not limited to the reduction of registered capital, contractor, joint venture, leasing, trust, mergers, separation, joint venture, cooperation, apply for the dissolution, rectification of business, application for cancellation of registration, filed for bankruptcy, transfer; the acquisition of important assets or foreign investment or else. 

(9) Party A should submit the application to Party B, if things, including but not limited to production stoppage, business shutdown, business license being revoked, written off, filing for bankruptcy, legal representatives engaged in illegal activities or hold criminally responsible administrative, changes in shareholders shares, litigation and arbitration and deterioration of operating conditions and finance, influence Party A’s ability to fulfill the obligations.  

(10) Party A should provide Party B written notice within five business days after changes in business name, location, corporate charter, business scope, legal representative and senior managers, and so on.

(11) Party A should write down and hand in the notice to Party B if there is any impairment loss in, or accidental damage or the disappearance of collateral security.

(12) Party A is responsible for the fees on insurance, assessment, registration, custody.

(13) Party A should be responsible for the fees, including litigation costs, property preservation fees, legal fees, travel costs, implementation costs, assessment fee and auction fees if Party A fails to fulfill the obligations.

(14) Party A’s all responsibilities conclude all the commitment he has made.

6.

 Rights and obligations of Party B

(1) Party B has the right to require Party A to provide the documents related to loans.

(2) Party B has access to inspection and supervision of usage of loans as well as Party A’s trade transactions, asset and financials.

(3) Party B has right to request to the People's Court for the exercise of subrogation of Party A’s claims. Party A should be responsible for the fees of subrogation, including litigation costs, property preservation fees, legal fees, travel costs, implementation costs, assessment fee and auction fees.

(4) On condition that damages are caused by Party A’s abandonment of claims or free transfer of property, Party B has the right to require People's Court to withdraw Party A’s conduct and Party A should pay for the costs.

(5) Party A agrees that Party B provide its credit information to People’ s Bank of China and credit bureaus and permits Party A to disclose information in the need for recourse claims. 

(6) Party B must release loans in accordance with the contract, except for the delay caused by Party A.

12. Liability for breach of contract

(1) Either of following one happens constitutes a breach of Party A.

A.. Party A abuses the loan, which is not in accordance with the contract.

B. Party A does not make payments on loan or interest according to the duration of the contract settlement. 

C. Party A fails to fulfill the commitments B made.

D. Party A does not fulfill its other debts. 

E.. Party A does not fulfill any obligation under the contract

F. Guarantor does not fulfill any obligations under the guarantee contract or causes situation that has possible impact on the rights of Party B.  

G. Other situations affect the achievement of claims.

(2) Party B is entitled to exercise the rights of one or more of the following, if Party A has the one or more situations on the above.

A. Stop the loan and ask Party A to repay all the interest and capital.

B. Abused loan will be imposed penalty at the rate of 80% more of the interest rate in this contract. Interest not paid on time is calculated by compounded interest.

C. Late penalty interest rate will be calculated at the rate of 30% more of the interest rate in this contract, if Party A hasn’t repaid the capital on the deadline.

D. Late penalty interest rate will be calculated compounded interest no matter whether the deadline of capital comes or not.

E. Transfer directly the Party A’s deposits in other institutions of Fuzhou City Commercial Bank Co., Ltd., to make up for the unpaid capital, interest and other money.

F. Require Party A to provide new security, which should meet the needs of Party B.

G. Carry out the security.

H. Cancel the contract.

I. Communicate with relevant departments and collect via media and news.

(3) Party B does not release loan amounts in accordance with the contract, except for the delay caused by Party A.. 

13.

Privacy

Without the agreement of both parties, any commercial secret must not be exposed to anyone else, except lawyers, accountants, auditors, assessors both parties employed and related departments.

14.

Changes, relief of contract or transfer of claims and liabilities

(1) Only there is some other contract between both sides can one side make changes or dissolution after the contract being executed. On the agreement of both sides, any written revision or complement is part of the contract. 

(2) When loan deadline comes, if Party A wants to extend the loan, write down the application to Party B and request for its consent in 15 working days before the deadline. If consented, comes extension of contract and then carry out related procedures.

(3) Party B has the right to transfer all or parts of the claims and liabilities to others, but he should inform Party A the situation of transfer. Party A should be responsible for Party B if the claims and liabilities has not been carried out, is useless, withdrawn or cancelled.

15. Rights reserved

Rights in this contract owned by Party B do not affect other rights Party B has. Other default conduct Party B has made either does not have any influence on the rights Party B has in this or any other contract and does not result in any responsibility or obligation that Party B own to Party A.. 

16. Application of the law and dispute resolution

(1) This contract is applied for laws of PRC.

(2)

Any dispute is prosecuted to People’s Court, which is located in Party A’s area.

(3) During the dispute resolution, all other items unaffected continue to carry out.

17. Notice of the terms

(1) Any notice to the other party should be in written form. If in telegram, the following day is considered as the arrival day. If in post, the third day after sending is considered as the arrival day. 

(2) One party should be informed by the other if any changes take place in aforementioned location, representative or telephone number. Otherwise, the above notice is effective with information given in this contract.

18. Affirms provisions

(1) Party A has read and agreed on all the items mentioned in this contract and has fully understood. Party B has explained all items in detail. 

(2) Party A is the legal corporation or organization who has the right to sign and carry out this 

contract with complete, legal and effective authorization.

19. Other matters agreed

This contract is a sub-contract of Unified Contract, NO. 3200100020090001. 

20. Matters unmentioned

Matters unmentioned can be consulted by both parties in accordance with the laws, regulations and rules.

21. The entry into force of the contract

This contract enters into force after the signatures and seals of legal representatives or authorized agents of both parties.

22. Contract text

This contract is in triple, one copy by Party A and two by Party B.

		
	Party A (seal):

	Party B(seal):     

	Legal representative (signature):           

	Legal representative (signature)

	Authorized agent(signature):

	Authorized agent(signature):

	Manager (signature): 

	Manager (signature):

Date of signature: April 14, 2009

Place of signature: Longtian Branch, Fuzhou City Commercial Bank Co., Ltd.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}]]