Document:

Unassociated Document

    
      

    

     

    Exhibit
10.24

     

    Loan
Agreement (English Translation)

    

    
      	
              Lender
      (Party A):         Lifang
      Chen

            	
              Borrower
      (Party B): Sutor Technology Group
Limited

            

    

     

    In
accordance with relevant Chinese laws ,decrees and pertinent rules and
regulations ,Party A and Party B have reached the following items through
friendly negotiation, have executed this Agreement as follows:

     

    ARTICLE
1. Amount of the Loan

    1.1 Party
B intends to borrow $100,000 from Party A for working capital. Party A will wire
such amount of the Loan to Party B or its designated bank account.

    

    ARTICLE
2. Term of the Loan

    2.1 The
term of the loan is three years, starting from March 11, 2009 to March 11,
2012.

    

    ARTICLE
3. Interest Rate

    3.1 The
annual interest rate is 3.6% which is subject to adjustment based on the lending
rate over the same period published by the People’s Bank of China as well as the
parties’ agreement.

      

    ARTICLE
4. Method of Payment

    4.1 Party
B shall repay the principal and accrued interest in full within 15 days after
the maturity date. Otherwise, Party B shall be legally liable for all the unpaid
amount.

     

    ARTICLE
5. Breach

    5.1.
Party A shall wire the Loan amount to Party B or its designated bank account
within 5 days after the execution of the Agreement. If Party A fails to wire the
Loan amount to Party B on time, Party A shall pay a penalty in accordance with
applicable laws.

    5.2 Any
party that fails to carry out its responsibilities specified in the Agreement
shall be deemed as breach of the Agreement. The breaching party shall be liable
to all costs and expenses to the other party.

    

    ARTICLE
6. Termination

    6.1 Party
B shall make the repayment pursuant to the Agreement. Party B shall give Party A
at least 60 days notice if Party B intends to request an extension to repay the
Loan.  The parties shall reach an agreement with regard to an
extension based on friendly negotiation.

    

    6.2 The
Agreement becomes effective upon execution. The Agreement shall not be amended
without mutual consent of both parties. The parties shall reach separate
agreement with regard to matters not covered by the Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
       

      
        

      

    ARTICLE
7. Dispute

    

    The
parties shall consult each other to settle any disputes. If the parties fail to
settle any dispute, any party may take the dispute to an appropriate local
court.

     

    ARTICLE
8. Miscellaneous

    

    8.1 The
appendices of the Agreement are deemed as integral parts of the Agreement and
are legally binding.

     

    8.2 The
Agreement is executed in duplicate and each party shall hold one
copy.

     

    8.3 Any
additional agreement reached by the parties shall be listed below.

    

    
      
        
          
            	
                    Lender
      (Party A): Lifang Chen

                  	 
      	
                    Borrower
      (Party B): Sutor Technology Group Limited

                  
	 	 	 
	
                    Date:March 11,
      2009

                  	 
      	
                    Date:March 11,
      2009

                  
	
                    Signature:

                  	
                    /s/ Lifang Chen

                  	 
      	
                    Signature:
      (Seal)Unassociated Document

    
      
        

      

       
Exhibit 10.25

    

    Loan
Agreement (English Translation)

    

    THIS LOAN
AGREEMENT, dated April 29, 2009, is made in Changshu, People's Republic of China
("China") by and between:

    

    Lender
(Party A): Lifang Chen

    

    Borrower
(Party B): Sutor Technology Group Limited

    Address:
No 8, Huaye Road, Dongbang Industrial Park

    Changshu,
China 215534.

    

    Background

    

           WHEREAS,
Party B desires to receive funds for its business activities; and Party A
desires to provide Party B with a loan in the amount of $150,000. Party A and
Party B enter into this Loan Agreement (this "Agreement") on the principle of
equality and mutual benefit.

    

    ARTICLE
I

    AMOUNT
AND TERM OF LOAN

     

            1.1.
Party A agrees, subject to the terms and conditions of this Agreement, to extend
a loan in the aggregate amount of $150,000, with an interest rate of 5% per year
payable at maturity, to Party B (the "Loan"). In case of applicable law requires
adjustment of the interest rate, the parties shall adjust the interest rate
accordingly after friendly negotiation.

    

            1.2.
The term of the Loan shall be three years, starting from April 29, 2009 until
April 29, 2012.

    

            1.3.
Party B shall repay the Loan and accrued interest within 15 days after the
maturity date. Party B may extend the Loan upon at least 60 day written notice
to Party A before the maturity date. The terms of the extension of the Loan
shall be based on friendly negotiation by the Parties.

    

    ARTICLE
II

    METHOD
OF BORROWING AND USE OF LOAN PROCEEDS

    

           2.1
Within 5 business days after execution of this Agreement, Party A shall make
available to Party B the full amount of the Loan to the account designated by
Party B.

    

           2.2
Party B shall not use the Loan for any purposes in violation of Chinese laws and
regulations.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
       

      
        

      

    ARTICLE
III

    PARTY A's REPRESENTATIONS AND
WARRANTIES

    

            3.1.
Party A is a legal citizen of the People's Republic of China, and has full power
and authority to make, enter into and carry out the terms of this
Agreement. This Agreement has been duly executed and delivered by Party A
and constitutes the legal, valid and binding obligations of Party A enforceable
against Party A in accordance with its terms.

    

            3.2.
Party A will resolve any issues not covered hereunder with Party B in
accordance with relevant Chinese laws and policies.

    

    ARTICLE
V

    

    PARTY
B's REPRESENTATIONS AND WARRANTIES

    

            4.1.
Party B is a Nevada company, and
has full power and
authority to make, enter into and carry out the terms of this
Agreement. This Agreement has been duly executed and delivered by
Party B and constitutes the legal, valid and
binding obligations of Party B enforceable against Party B in accordance with its
terms.

    

            4.2.
Party B will resolve appropriately any issues not covered hereunder in
accordance with Party A in accordance with relevant Chinese laws
and policies.

    

    ARTICLE
VI

    BREACH

    

           If
this Agreement cannot be performed due to a party’s fault, such party shall
be liable for any losses resulting from breach, and the other Party shall
have the right to terminate this Agreement. If both Parties have fault,
each of Party A and Party B shall take respective responsibilities for any
losses and damage.

    

    ARTICLE
VII

    DISPUTE
RESOLUTION

    

            Any
dispute arising out of or in connection with this Agreement shall
be settled by friendly discussions. In case that agreement cannot be
reached, any party may summit the dispute to the court that has the jurisdiction
over the matter. The Agreement becomes effective upon execution. The Agreement
shall not be amended without mutual consent of both parties.

    

    ARTICLE
VIII

    OTHER

    

    The
Agreement is executed in duplicate and each party shall hold one
copy.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
       

      
        

      

    SIGNATURE
PAGE

    

    IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the date first
written above in Changshu, China.

    

    

    Debit
(Party A): Lifang Chen

    

    Date:April 29,
2009

    

    Signature:
/s/ Lifang Chen

    

    Credit
(Party B): Sutor Technology Group Limited

    

    Date:April 29,
2009

    

    Signature:
SealExhibit
10.26

    

    English
Translation of the Loan Agreement

     

    Party A:
Guihua Lin

     

    Party B:
Sutor Technology Group Limited

     

    Whereas,
pursuant to relevant rules and regulations and based on the principles of
fairness and friendly consultation, the parties have reached the following
agreement “the “Agreement”) regarding a loan of $2.86 million (the “Loan”)
provided by Party A to Party B:

     

    Article
I: Amount of the Loan

     

    Party B
intends to borrow $2.86 million from Party A for working capital. Party A will
wire such amount of the Loan to Party B or its designated bank account within 60
days after the execution of the Agreement.

     

    Article
II: Term of the Loan

     

    The Loan
has a term of three years, starting from November 20, 2008 to November 20,
2011.

     

    Article
III: Interest Rates

     

    The
annual interest rate is 6% which is subject to adjustment based on the lending
rate over the same period published by the People’s Bank of China as well as the
parties’ agreement.

     

    Article
IV: Method of Payment

     

    Party B
shall repay the principal and all the interest in full within 15 days after the
term of the Loan expires. Otherwise, Party B shall be legally liable for all the
unpaid amount.

     

    Article
V. Breach

     

    5.1 Party
A shall wire the Loan amount to Party B or its designated bank account within 60
days after the execution of the Agreement (holidays not counted). If Party A
fails to wire the Loan amount to Party B on time, Party A shall pay a penalty
equal to the result of the unwired amount multiplied by the days delayed plus 6%
interests.

     

    5.2 Any
party that fails to carry out its responsibilities specified in the Agreement
shall be deemed as breach of the Agreement. The breaching party shall be liable
to all costs and expenses to the other party.

     

    Article
VI. Termination

     

    6.1 Party
B shall make the repayment pursuant to the Agreement. Party B shall give Party A
at least 60 days notice if Party B intends to request an extension to repay the
Loan.  The parties shall reach an agreement with regard to an
extension based on friendly negotiation.

     

    6.2 The
Agreement becomes effective upon execution. The Agreement shall not be amended
without mutual consent of both parties. The parties shall reach separate
agreement with regard to matters not covered by the Agreement.

     

    Article
VII. Dispute

     

    The
parties shall consult each other to settle any disputes. If the parties fail to
settle any dispute, any party may take the dispute to an appropriate local
court.

     

    Article
VIII. Miscellaneous

     

    8.1 The
appendices of the Agreement are deemed as integral parts of the Agreement and
are legally binding.

     

    8.2 The
Agreement is executed in duplicate and each party shall hold one
copy.

     

    8.3 Any
additional agreement reached by the parties shall be listed below.

     

    
      
        
          	
                  Party A:

                	
                  /s/ Guihua Lin

                	 
      	
                  Party B: Sutor Technology Group Limited

                
	 	 	 
	
                  Date: Nov.
      20, 2008

                	 
      	      
                  (Seal)

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