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Asia Green Agriculture Corporation: Exhibit 10.4 - Filed by newsfilecorp.com

Exhibit 10.4 

RMB Liquid Fund Loan Contract 

Contract No.: (2011) Jian Ping Song Dai CZ Zi No.1 

	Borrower (Party A): Fujian Yada Group Co., Ltd
  
	Domicile (Address): Shuinan Industrial Road, Songxi County
    	Zip Code: 353500 
	Legal Representative: Zhan Youdai 
	Fax: 2332598 	Tel: 2332688 

 

	Lender (Party B): China Construction Bank
      Corporation 
	Ltd. of Songxi Branch 	  
	Domicile (Address): No. 121, Jiefang Street, Songyuan Town,
    	Zip Code: 353500 
	Songxi Province 	  
	Legal Representative: Liu Liquan 	  
	Fax: 2322644 	Tel: 2322670 

Exhibit 10.4 

For the purpose as set forth in Article 2 of this Contract,
Party A hereby applies to Party B for a loan, and Party B agrees to release the
loan to Party A (the “Loan”). This Contract is made in line with Contract
Law of the People's Republic of China and the General Provisions of Loans to
specify the rights and obligations of parties involved.

	ARTICLE 1 	AMOUNT OF LOAN 

Party A borrows RMB (In words) Three Million and One Hundred
Thousand from Party B. 

	ARTICLE 2 	USAGE OF LOAN AND SOURCE OF REPAYMENT
  

Purpose of the Loan, source of the repayment under the Contract
will be referred to Annex 1 named “Basic Information of the Loan”. 

	ARTICLE 3 	TERM OF LOAN 

The term of loan under this Contract is 12 months, commencing
from February 16, 2011, and ending on February 16, 2012. 

In the event that the commencement date of the Loan under this
Contract conflicts with the archived document (loan receipt), the actual issuing
date of the Loan demonstrated on the Loan archived document at the first time of
issuance of such a loan shall govern and the aforementioned maturity date of the
Loan shall change accordingly. 

The archived document is part of the Contract with equal legal
effect.

	ARTICLE 4	INTEREST RATE OF THE LOAN, PENALTY INTEREST RATE, CALCULATION AND SETTLEMENT 

1.         
Interest Rate of the Loan 

The interest of the loan under this Contract is calculated on a
per annum basis in accordance with the section (2) as follows: 

(1)          
Fixed rate at ___%, within the term of the Loan, this rate will not be adjusted;

(2)          
The interest rate shall be the benchmark rate at the commencing date of the
interest (the “Commencement Rate”) at the corresponding level plus
(plus/ minus) 0%, such interest rate will not change within the term of
the Loan; 

(3)          
Floating rate shall be the benchmark rate at the Commencement Date at the
corresponding level ___ (plus/ minus) __%, and such floating rate
shall be adjusted once ___ months in accordance with the benchmark rate of the
rate adjusting date as well as the above plus/ minus level from the interest
commencing date to the liquidation date of fulfilling all the principal and
interests under the Contract; or (4) __________. 

Exhibit 10.4 

2.             Penalty
      Interest Rate 

(1)           In the event that Party A does not use the Loan in accordance with this
Contract, the penalty interest rate will be the interest rate of the Loan plus
100%. If the interest rate of the Loan has been adjusted in line with the
above section (3), the penalty interest rate will be adjusted based upon the
above interest rate and the corresponding level accordingly. 

(2)           The penalty interest rate of the overdue Loan will be the interest rate of the
Loan plus 50%. If the interest rate of the Loan has been adjusted in line
with the above section (3), the penalty interest rate will be adjusted based
upon the above interest rate and the corresponding level accordingly. 

(3)           In the condition that both the loan becomes overdue and there is misuse of the
Loan, the penalty rate or a double rate should be imposed subject to the
severity. 

3.           
The Commencement Date hereof means the date when the initially issued Loan is
archived to the loan issuing account (the “Loan Issuing Account”) as
agreed in Article 6 of the Contract.

The benchmark interest rate at the first time of issuance of
the Loan means the loan interest rate at the corresponding time and level
announced by the People’s Bank of China. Thereafter, when the aforementioned
interest rate is adjusted, the benchmark interest rate means the loan interest
at the corresponding time and level announced by the People’s Bank of China on
the adjustment date. If the People’s Bank of China does not announce the loan
interest at the corresponding time and level, the benchmark interest rate will
be the loan interest rate recognized by inter-banks or at the usual and
corresponding time and level on the adjusting date, unless both Parties agree
otherwise. 

4.           
The interest of the Loan will commence from the date when the Loan is archived
to the Loan Issuing Account. The interest of the Loan will be calculated on a
daily basis (daily interest rate=annual interest rate/360). If Party A fails to
pay for the interest on the settlement date as agreed under this Contract, the
compound interest rate will be collected from the following day. 

5.            
Settlement of Interest 

(1)           
A loan with a fixed interest rate shall be settled in accordance with the agreed
interest rate. For a loan with a floating interest rate, the interest rate shall
be decided based upon the interest rate in each floating term.

(2)           
This Contract shall settle the interest based upon section (i) as follows:

Exhibit
10.4           

          
(i) monthly settlement of the interest; the settlement date will be
20th day of each month; 

          
(ii) quarterly settlement of the interest; the settlement date will be
20th day of the last month of each quarter; or 

          
(iii) __________. 

	ARTICLE 5 	ISSUANCE AND PAYMENT OF THE LOAN
  

1.           
Precondition of Issuing Loan 

Unless the following preconditions are consecutively satisfied
or Party B gives up the whole or part of such preconditions, Party B is
obligated to issue the Loan as long as: 

(1)             Party
  A has fulfilled related approvals, registrations, deliveries, insurance and
  other legal procedures as required under this Contract; 

(2)            
If the Contract requires any guarantee, such guarantee meeting Party B’s
requirements has been effective and continues to be effective; 

(3)            
Party A has opened an account for withdrawing and depositing money as required
by Party B; 

(4)            
Party B does not breach the Contract; 

(5)            
No situation that will harm the credit of Party A as agreed under the Contract
has occurred; 

(6)            
Issuance of the Loan under the Contract by Party B is not prohibited or limited
by laws, regulations or competent authorities; 

(7)            
The financing index of Party A consecutively meets the requirements as addressed
in Annex 2 titled “Financing Index Binding Provision”; 

(8)            
Party A has submitted relevant materials as agreed in the Contract prior to
issuing the Loan; 

(9)            
The materials provided by Party A to Party B are legal, authentic, integrated,
accurate, effective and meet the other requirements of Party B; and 

(10)            Other
pre-conditions: _____________________. 

2.            Loan-paying
Plan 

Loan paying means Party B issues the Loan to the Loan Issuing
Account in accordance with the requirements of Party B and as agreed in the
Contract. 

Loan-paying plan shall be decided in accordance with the first
method as follows: 
(1)           Loan-paying Plan: 

	(i) February 16, 2011 	Amount: RMB 3,100,000 
	(ii) Date 	Amount 
	(iii) Date 	Amount 
	(iv) Date 	Amount 
	(v) Date 	Amount 

 

Exhibit 10.4 

	(vi) Date 	Amount 
	(2)          
       Loan-paying Plan: 	  
	 	  
	(i) From  ______  to ______  	Amount 
	(ii) From ______  to ______  	Amount 
	(iii) From ______ to ______  	Amount 
	(iv) From ______ to ______  	Amount 
	(v) From ______ to ______  	Amount 
	(vi) From ______ to ______  	Amount 

(3)            Paying
at any time as required by Party A; or 

(4)            _______________.
Party A shall use the Loan in accordance with the above loan-paying plan. Unless
Party B agrees in writing, Party A shall not accelerate, postpone, split or
cancel the Loan. 

4.            If
Party A divides and uses the Loan more than once, the expiration date of the
Loan shall be decided in accordance with Article 3 of the Contract. 

5.            Materials
Provided by Party A. 

Party A and Party B choose to use the No.1 item as
follows (item No.1 or No.2) regarding the agreement on Party A’s providing
materials: 

No.1 

(1)             Only
satisfying the No.2 requirement: 

            (i)             Single
use of the Loan exceeds RMB30,000,000 and any payment under such Loan exceeds
RMB30,000,000; 

            (ii)            
__________________. 

Party A shall provide Party B the following materials no later
than _____working days prior to using such Loan: 

            (i)            Loan
archived documents and payment settlement certificates signed and chopped by
Party A; 

            (ii)           Transactional
documents including, but not limited to, goods, services, capital contracts
and/or invoices in writing or in electronic format that can be evidence for the
capital and use of such Loan; 

and other documents by Party A as required by Party B
(including, but no limited to, business licenses, power of attorney, bylaws,
shareholders resolutions, board resolutions and other materials of the parties
having transactions with Party A). 

Exhibit 10.4 

(2)             Except
for the above agreements or that Party B decides that Party A is authorized to
decide the payment as agreed in section 7 hereinafter based upon Party B’s
reviewing the materials provided by Party A, Party A shall provide the following
materials to Party B no later than five (5) working days prior to using
such Loan: 

	 	(i) 	Plan of using the Loan in line with the proposed Loan; 
	 	(ii) 	Loan archived documents signed and chopped by Party A.

No.2 

Regardless of the amount of each Loan, Party A shall provide
Party B with the following materials no later than _____ working days prior to
using such Loan: 

            (i)             Loan
archived documents and payment settlement certificates signed and chopped by
Party A; 

            (ii)            Transactional
documents (including, but not limited to, goods, services, capital contracts
and/or invoices in writing or in electronic format that can evidence the capital
and use of the Loan; 

and other documents by Party A as required by Party B
(including, but no limited to, business licenses, power of attorney, bylaws,
shareholders resolutions, board resolutions and other materials of the parties
having transactions with Party A). 

6.            Entrusted Payment of Party B 

(1)           Application of Entrusted Payment of Party B 

In the event that a single payment meets the requirement of
_______, such payment should be entrusted to Party B, i.e. Party A irrevocably
entrusts Party B to pay the capital to a third party who has a transaction with
Party A. Party A is prohibited to extend such a payment to its cooperator or any
third party. 

            (i)            A
single payment that exceeds RMB30,000,000, any payment within the scope of such
capital to a third party exceeds RMB30,000,000, and Party B approves the payment
to the payee based upon materials provided by Party A; 

            (ii)            Regardless
the amount of each Loan, Party B is entrusted to fulfill the payment; 

            (iii)             ____________________.

(2)            In
the event that Party B is entrusted to fulfill the payment, Party B shall
archive such capital to the Loan Issuing Account and pay the Loan to the account
of the cooperator of Party A directly. Party A shall not dispose the Loan in any
manner (including, but not limited to, transferring and withdrawing deposit).

Exhibit 10.4 

(3)             Party
B will conduct a formal examination on the amount of payment, time of the
payment, the payee, the method of payment and the underlying accounting based
upon materials provided by Party A. After Party B finishes such an examination
of the above elements and decides that such elements meet Party B’s
requirements, Party B shall pay for the partner of Party A. Once the Loan is
archived into the account of the partner, it will deem that Party B fulfills the
obligation of the entrusted payment. Party A shall confirm whether such a
payment is successful within one (1) working day after the payment in a timely
manner. If the payment fails, Party A shall inform Party B at once. Party A
shall guarantee that the partner and use of the Loan are in line with the
transactional documents. 

(4)            
The formal examination of the above elements of payment means that neither
confirms Party B the authenticity and legal compliance of any transaction nor
intervenes with any dispute between Party A and its cooperator or any other
third party or any responsibility and duty burdened by Party A. For any damages
suffered by Party B due to the entrustment, Party A shall compensate Party B.

(5)            
In the event that any payment was not successfully or timely archived into the
account of Party A’s cooperator due to the materials provided by Party A not
being integrated, authentic, in compliance with the specific use of the capital,
or the conflicts exist in the materials provided by Party A, which are not the
fault of Party B, both Parties shall follow the agreements below: 

            (i)            
all the damages, including, but not limited to, failure of paying the Loan or
failure of paying the Loan in a timely manner, shall be burdened by Party A.
Party B shall not be liable for such damages and any loss suffered by Party B
shall be compensated by Party A; 

            (ii)
            Party A shall not dispose such a Loan in any manner (including, but not limited
to, transferring and withdrawing deposit); 

            (iii)            Party
A shall provide new materials and correct information within _____working days
as required by Party B. 

If Party A breaches any of the above agreement, Party B is
authorized to recover such loan capital ahead of the schedule. 

(6)             Any
failure, mistake, delay of paying the Loan, other risks, liabilities and damages
shall be burdened by Party A and Party B shall not be liable for the
aforementioned. Party A shall compensate Party B all the damages arise hereof.

7.              Payment by Party A

In the event that does not satisfy the requirements addressed
in the above section 6(1) regarding the entrusted payment, Party A is authorized
to pay by itself, i.e. Party A will pay for its cooperator after Party B’s
archiving the loan capital into the Loan Issuing Account based upon Party A’s application for
withdrawing deposit. Party A shall guarantee that the cooperator and use of the
Loan are in line with the transactional documents. 

Exhibit 10.4 

8.             Regardless
of whether the payment is made by Party A or entrusted to Party B, once the loan
capital is archived into the Loan Issuing Account, it is deemed that Party B has
fulfilled its obligation of issuing the capital. Party A shall guarantee that
the status of the Loan Issuing Account is normal (including, but not limited to,
freezing by competent authorities, deducting and so on). Any freezing or
deducting conducted by the relevant authorities after the loan capital is
archived into the Loan Issuing Account, other risks, liabilities and loss shall
be shouldered by Party A. All the damages suffered by Party B shall be
compensated by Party A. 

9.            
When any of the following events occur, Party B is authorized to change the
method of paying the loan capital, including, but not limited to, adjusting the
entrusted payment (such as, adjusting the standard amount of the entrusted
payment), altering the payment method of a single loan capital and so on: 

            (i)              Party
  A breaches any agreement under this Contract; 

            (ii)             Any
  event that could harm the credit of Party B as agreed under this Contract;

             (iii)            Other
  situations where Party B deems that it is necessary to change the payment method
  of the loan capital. 

When Party B changes the payment method, Party A shall provide
new materials as agreed under this Contract and required by Party B. 

	ARTICLE 6 	USE AND SUPERVISION OF THE ACCOUNT
  

1.             Loan
Issuing Account 

The Loan Issuing Account under this Contract shall be decided
in accordance with the No.2 method as follows: 

            (i)            
Within ____ working days after the Contracts becomes effective and prior to the
first loan issuance, Party A shall open a special capital issuing account under
the services of Party B. This account shall specialize in issuing and paying all
the loans under the Contract. 

            (ii)            
Other accounts of Party A opened under the services of Party B (Account No.:
35001677607059558888). 

Exhibit 10.4 

2.             Capital
Collecting Account 

(1)            
Within ___ working days after the Contract becomes effective, Party A shall open
a capital colleting account or use an existing account (Account No.:
35001677607059558888) as the capital collecting account under the
services provided by Party B. 

(2)             Party
A shall report the fund flows of the capital colleting account to Party B
quarterly (“monthly” or “quarterly”) as a circle. Party A shall collect
and report the fund flows of the last circle to Party B no later than fifteen
(15) working days at the beginning of each circle. 

(3)             Party
B is bestowed to manage the fund flows of the capital collecting account,
concretely; the capital collecting account shall meet the ___(iii)___
requirement as follows: 

            (i)             
  Average capital stock in the account: ______________________________

              (ii)             Time
  of the collecting fund: _____________________________

              (iii)            Ratio
  of total sale amount of Party A collected into the account: Ratio of total sale
  amount of Party A collected into the account should be not less than 60%.

              (iv)            Limitation
  on a single amount in the account payable to the outside: _______

              (v)             Limitation
  on amount in the account per day payable to the outside: _______

              (vi)            Limitation
  on signing with online banks: ____________________________

              (vii)           Any
  payment of the capital of the account to the outside shall be agreed by Party
  B: _____________________________________________________________

              (viii)          Such
  an account shall only be used for collecting or paying loans under the Contract
  and is not allowed to be used for any other purpose: ___________________

              (ix)             _____________________________________________________________

              (x)             Other
  requirements provided by Party B; 

              (xi)           
  Shall execute any related arrangement in line with the account management agreement
  entered into by Party A and Party B. 

	ARTICLE 7 	REPAYMENTS 

1.             Sequence
of Repayment 

The repayment by Party A under the Contract shall be in
accordance with the following rules: 

Party B has the right to require Party A to repay any fee that
should have been burdened by Party A but advanced by Party B as agreed under the
Contract, and fees incurred to realize the credit of Party B. The remainder of the
repayment shall be used to repay the interest first and then repay the principal
in line with the rule of clearing the interest with the principal. However, as
to the overdue principal and interest for ninety (90) days without being
collected or other loans as regulated by laws, regulations and ordinances, Party
A shall repay the principal first and then repay the interest after fulfilling
the above fees. 

Exhibit 10.4 

2.             Repayment
of Interest 

Party A shall repay Party B the interest at the date of
settling such interest. The first day of repaying the interest is the first day
of settling the interest after issuing the Loan. At the last time of repaying
the Loan, the interest shall be repaid together with the principal. 

3.             Plan
of Repaying Principal 

The plan of repaying principal shall be decided in accordance
with the 1st method: 

	(1) February 16, 2012, amount RMB3,100,000;
    
	(2) Date____________, amount _____________; 
	(3) Date____________, amount _____________; 
	(4) Date____________, amount _____________; 
	(5) Date____________, amount _____________; 
	(6) Date____________, amount _____________;

4.             Method
of Repayment 

Party A shall prepare enough capital in the capital colleting
account or other accounts opened under the services of Party B prior to the
repayment date and make such accounts automatically transferred (Party B is
authorized to draw the repayment in the account), or Party A shall repay the
Loan via other accounts on the repayment date as agreed under this Contract.

5.             Pre-repayment
(early payment or prepayment) Prepayment of the loan 

In the event that Party A decides to repay the Loan ahead of
schedule, it shall inform Party B the prepayment in writing thirty (30)
working days in advance. After Party B’s consent, Party A is authorized to repay
the partial or whole of the interest and principal ahead of schedule. 

The amount of the prepayment by Party A shall be computed based
upon the actual days of using the Loan and the interest of the Loan shall be in
accordance with the Contract. 

Exhibit 10.4 

In the event that Party B agrees to the prepayment of the loan
by Party A, Party A is authorized to charge Party B compensation that shall be
decided in according with the 1st standard as follows:

(1)             Amount
of compensation = amount of the repayment principal*number of repayment
months*0.05%, less than a month will be deemed as a month. 

(2)             ____________.

If Party A repays the Loan in installments and repays part of
the principal, it shall repay the Loan in an opposite sequence. After
prepayment, the interest on the remainder of the Loan shall be decided in
accordance with the Contract. 

	ARTICLE 8 	RIGHTS AND OBLIGATIONS OF PARTY A
  

1.            
Rights of Party A 

(1)             Party
  A is authorized to require Party B to issue the Loan in accordance with the
  Contract; 

  (2)             Party
  A is authorized to use the Loan in line with the Contract; 

  (3)             Party
  A is authorized to propose extending the term of the Contract by meeting the
  requirements of Party B; 

  (4)             Party
  A is authorized to require Party B to keep trade secrets regarding materials
  of accounting information and operation provided by Party A confidential; 

  (5)             Party
  A is authorized to prohibit any attempt at bribery by Party B and its employees
  and to report any behavior by Party B that breaches the laws and regulations
  relating to credit and loan interest, services charge and other behaviors to
  relevant authorities. 

2.             Obligations
of Party A 

(1)            
Withdraw deposits in line with the agreements under the Contract, fulfill
repayment of the interest and principal of the Loan as well as the burden of any
fees incurred under the Contracts; 

(2)            
Provide relevant accounting information, materials of business operation and
other documents as required by Party B, including, but not limited to, the
quarterly balance sheet and income statement (income and expenditure statement
for a public institution) of last quarter within the initial fifteen (15)
days of first month of each quarter, provide the cash flow of each fiscal year
as of or as at the end of the current fiscal year, and guarantee that all the
materials provided are legal, authentic, integrated, accurate and effective.

Exhibit 10.4 

(3)              In
  the event that disadvantaged matters that will harm the debt paying ability
  of Party A or the credit of Party B occur, or the name, legal representative
  (supervisor), residence, business scope, registered capital, bylaws of company
  and other changes relating to administration on industry and commerce, Party
  A shall inform Party B within three 

(3)              working
  days in written and provide materials after such changes; 

(4)              Party
  A shall use the Loan in line with the Contract without the diversion or embezzling
  of funds, illegally engaging in business and transactions, investing in fixed
  assets or equity interests via the Loan, using the Loan in the areas of production
  and operation prohibited by the State, using the Loan for exchange of the debts
  incurred in the course of investing in the fixed assets and equity interests
  of Party A; Party A shall coordinate and accept the examination and supervision
  by Party B regarding the business operation and accounting activities, use and
  payment of the Loan under the Contract, and relevant management requirements
  by Party B after issuing the Loan; Party A shall not rescind funds, transfer
  assets or take advantage of affiliated transactions to avoid any debt; Party
  A shall not use any false contracts entered into with its affiliates and credits
  of any negotiation or debt receivable to obtain any discount or pledge from
  a bank and extract any bank capital or credit; Party A shall repay the Loan
  in accordance with the Contract and shall not avoid the entrusted payment of
  Party B via breaking down into elements. 

(5)             If
Party A uses the Loan under the Contract to engage in production, Party A shall
obey relevant national regulations of environment protections; 

(6)            Party
A shall not provide a guarantee to a third party by using the assets under the
Contract without obtaining the consent from Party B prior to repaying the
interest and the principal of the Loan; 

(7)             If
Party A is a group client, Party A shall report any affiliated transactions
accounting for 10% or more of Party A’s net assets, including (i) the
relationship of each transaction party; (ii) essential transactional items;
(iii) amount of the transactions or relevant ratio; (iv) pricing policies
(including those transactions without amount or with only nominal amount); 

(8)             Prior
to Party A’s merger, spin-off, transfer of equity interests, investment,
material increase of debt financing and other significant events, Party A shall
obtain a written consent from Party B. However, such consent of Party B will not
affect any right to remedies asserted by Party B when Party B deems that the
above events may harm the credit of Party B; 

(9)             Party
A shall report the use and repayment of the Loan to Party A. Party A shall
report the use and repayment of the Loan of last month to Party B within the
initial fifteen (15) working days of each month and provide actual use of
the Loan until such Loan has been fulfilled. 

	ARTICLE 9 	RIGHTS AND OBLIGATIONS OF PARTY B
  

1.             Party
B is authorized to require Party A to repay the principal, interest and fees in
a timely manner, manage and control the capital flow of the Loan, actively
monitor the whole fund flow of Party A, collect the repayment ahead of schedule
based upon the capital collecting of Party A, exercise other rights under the
Contract and require Party A to perform other obligations under the Contract;

Exhibit 10.4 

2.             Party
B is authorized to participate in the big financing of Party A (i.e. the total
amount exceeds RMB50,000,000 or the equivalent currency), assets sale, merger,
spin-off, restructure of equity interests, bankruptcy, liquidation and other
activities to safeguard the credit of Party B. The details of the plan of
participation shall be according to 1st item: 

(1)             When
Party A engages in the above activities, it shall obtain the consent of Party B;

(2)             Party
B shall arrange for the big financing of Party A; 

(3)             The
sale price of Party A’s assets and buyer shall be in line with the following
requirements: ________________________________; 

(4)             Other
methods that Party B deems appropriate to adopt. 

3.             Party
B shall issue the Loan in line with the Contracts, except for any delay or
failure which can be imputed to neither Party A or Party B; 

4.             Party
B shall keep trade secrets regarding accounting information and business
operation provided by Party A confidential except for otherwise required by
laws, regulations, competent authorities or agreed by both Parties; 

5.            
Neither shall Party B attempt to bribe Party A and its employees nor seek,
accept any bribery attempted by Party A; 

6.             Neither
  shall Party B perform dishonestly or harm Party A’s legal rights. 

	ARTICLE 10 	BREACH OF CONTRACT  

1.             Breach
of Contract by Party B and Liabilities 

(1)          
In the event that Party B does not issue the Loan in line with the Contract
without legitimate reasons, Party A is authorized to require Party B to fulfill
the specific performance of issuing the Loan according to the Contract; 

(2)           If
Party B charges unnecessary interest and fees by disobeying national laws or
prohibitive regulations, Party A is authorized to require Party B to return such
expenses. 

2.             Breach
of Contract by Party A 

(1)            Party A breaches any agreement under the Contract
or any legal obligation; 

(2)             Party A expresses or demonstrates by its conduct
that Party A will not perform any of the obligation under the Contract; 

Exhibit 10.4 

3.             Situations
that May Harm Credit of Party B 

(1)             Party
B will deem the following events potentially harmful to the credit of Party B
under the Contract: occurrence of contract, trust (take over), lease,
shareholding reform, decrease of registered capital, investment, association,
merger, acquisition, purchase and restructure, spin-off, joint venture,
substantial increase of debt financing, suspension of business, application for
dissolution, revocation, application for bankruptcy, change of control of the
actual shareholder or controller, transfer of material assets, winding up,
closing of business, stiff fines by competent authorities, de-registration,
revocation of business license, involving in significant legal disputes,
difficulties of business operation or deterioration accounting, descending of
credibility, inability to perform the normal obligations by the legal
representative or the supervisor; 

(2)            
Party B will deem the following events potentially harmful to the credit of
Party B under the Contract: Party A fails to fulfill other maturity debts
(including the debts to the entities of the China Construction Bank at each
level and other debts to any third party), transfer the properties at a low
price or without consideration, lessen or exempt credits of a third party,
reluctantly perform other credits or rights, provide guarantee to a third party;
Party A’s financial index does not consecutively meet the requirement addressed
in the Annex 2 named “Financing Index Binding Provision”; the fund flow of any
account of Party A becomes abnormal (including, but not limited to, the capital
collecting account and other accounts supervised by Party B); Party A materially
breaches the Contract; The profitability of Party A falls; Use of the Loan
becomes abnormal; 

(3)            
Party A abuses the independent status of the legal entity or the limited
liability of shareholders; 

(4)            
Any pre-condition of consecutively issuing loan by Party B under the Contract
does not satisfy; 

(5)             Party
B will regard the following situations of the guarantor of the Contract as the
events that may harm the credit of Party B under the Contract: 

            (i)             Breach
of any agreement under the guarantee agreement or the warranties and
representations have any false statement, mistake, or omission; 

            (ii)             Occurrence
of contract, trust (take over), lease, shareholder reform, decrease of
registered capital, investment, association, merger, acquisition, purchase and
restructure, spin-off, joint venture, substantial increase of debt financing,
suspension of business, application for dissolution, revocation, application for
bankruptcy, change of control of the actual shareholder or controller, transfer
of material assets, winding up, closing of business, stiff fines by competent
authorities, de-registration, revocation of business license, involvement in
significant legal disputes, difficulties of business operation or deterioration
accounting, fall in credibility, inability to perform the normal obligations by
the legal representative or the supervisor; 

            (iii)             Other
events of losing or potentially losing of the ability to guarantee. 

Exhibit 10.4 

(6)            Party
B will regard the following situations of the mortgage and pledge as the events
that may harm the credit of Party B under the Contract: 

            (i)            
Damages, loss and decrease of value of the property under mortgage or pledge due
to the behavior of any third party, expropriation by the State, confiscation,
condemnation, re-collection without compensation, removal, market changes or
other reasons;

             (ii)            Properties
  under mortgage or pledge are attached, detained, frozen, deducted, under liens,
  auctioned, supervised by administrative authorities, or their ownerships are
  under disputes; 

             (iii)           Mortgagee
  or pledgor breaches any agreement under the mortgage or pledge agreement or
  the warranties and representations have any false statement, mistake, or omission;

              (iv)          Other
  events that may harm the realization of Party A’s credit in the mortgage
  or pledge. 

(7)            Failure
of formation, ineffectiveness, invalid, revocation, and cancellation of the
Contract, guarantor’s breaches or expression that he will not perform his
duties, or the guarantor deems that any event that may harm the credit under the
Contract; or 

(8)            Any
other events that Party B deems could harm the credit of Party B under the
Contract. 

4.             Measures
of Remedies for Party B 

In the event that the following section (2) and section (3)
occur, Party B is authorized to a right or some of the rights as stated above:

(1)             Terminating
the Loan; 

(2)             Supplementing
the conditions regarding issuing the Loan and payment; 

(3)             Altering
the payment method of the Loan; 

(4)             Declaring
an immediate maturity of the Loan and requiring Party A to repay any principal,
interest and fee regardless whether such Loan has been due under the Contract;

(5)             When
Party A fails to use the Loan in accordance with the Contract, Party B is
authorized to require Party A to pay a penalty fee equivalent to 1% of
the amount that is used not in line with the Contract and to refuse any capital
that has not been withdrawn by Party A under the Contract; 

(6)            
In the event that Party A does not use the Loan in line with the Contract, Party
B is allowed to charge interest and compound interest according to the penalty
rate and agreements of the interest settlement under the Contract commencing
from the date when the Loan is not used as agreed in the Contract to the date
when both the principal and the interest have been repaid; 

Exhibit 10.4 

(7)            
When any overdue repayment occurs and Party A fails to fulfill the repayment of
the loan principal and interest (including the loan capital and interest that
have been declared as partial or whole maturity), Party B is authorized to
charge Party A the interest and the compound interest according to the penalty
rate and agreements of the interest settlement under the Contract commencing
from the date when the Loan is not used as agreed in the Contract to the date
when both the principal and the interest have been repaid. An overdue loan means
that Party A fails to repay the loan or fulfill the loan installments in line
with the Contract. 

Prior to the maturity of the Loan, any overdue interest of
Party A shall be collected at a compound interest in according with the interest
rate and the method of settlement under the Contract: 

(8)             
Other measures of remedies, including, but not limited to: 

            (i)             
Party B is authorized to withdraw RMB or other equivalent currency from the
account of Party A opened in the banking system of the China Construction Bank
without informing Party A in advance; 

            (ii)             Exercising
rights of the guarantee;

            (iii)            Party
A is required to provide new guarantees for all the debts under the Contract;

            (iv)            Refusal
of Party A’s disposing of relevant deposit in the bank account of opened in the
banking system of the China Construction Bank; 

            (v)             Dissolution
of the Contract. 

	ARTICLE 11  	MISCELLANEOUS

1.             Burden
of Fees 

Any fee of legal services, insurance, evaluation, registration,
safeguarding, appraisal, notary, tax, technology, environment, commission of
settlement of payment relating to the Contract or its guarantee agreements shall
be burdened by Party A except for otherwise agreed. 

All the fees actually incurred in the course of realizing Party
A’s credit (including, but not limited to, litigation fees, arbitration fees,
property preservation fees, business trip expenses, execution fees, evaluation
fees, auction fees, notary fees, delivery fees, announcement fees, legal service
fees and other fees) shall be the responsibility of Party A. 

2.             Use
of Party A’s Information 

Party A vests rights of inquiry of the credibility of Party A
in the relevant credibility database established and approved by the Bank of
China and administrations of credit investigation or with other relevant
entities and departments in Party B, and also authorizes Party B to submit any
information of Party A to credibility databases set up and approved by the Bank of China and administrations of credit
investigation. Party A also authorizes Party B to use and disclose Party A’s
information for purpose of business in a reasonable manner. 

Exhibit 10.4 

3.             Announcement
and Collection 

Party B is authorized to report any overdue loan or other
breach of contract of Party A to the relevant department or entity, and to
collect the overdue repayments by means of announcement and through the news
media. 

4.             Evidentiary
Effect of Party B’s Record 

Unless any reliable and definite evidence exists, internal
accounting records of Party B regarding the principal, interest, fees and
records of repayment, receipts and certificates produced or reserved by Party B
in the course of providing services of any withdraw, repayment, payment of
interest for Party A, and records and certificates in the course of collecting
the loan will constitute valid evidence of the credit relationship between Party
A and Party B. Party A can not challenge such evidence by reason of Party B’s
unilaterally conducting or reserving the above records, receipts or
certificates. 

5.             Reservation
of Rights 

Any tolerance, extension, preference of any breach or delay of
the Contract or postponing of the performance of any right under the Contract
can neither be regarded as giving up any right or benefit under the Contract or
permission or acknowledgement of any breach of the Contract, nor limiting,
prohibiting or halting the consecutive performance of such right and other
rights or incurring that Party B’s burdening the responsibilities and
liabilities of Party A. 

6.             Except
for the debts under the Contract, in the event that Party A is also the creditor
of Party B of other debts which have expired, Party B is authorized to collect
RMB or equivalent currency in the account of Party A opened in the banking
system of the China Construction Bank. Party B shall not challenge that right of
Party A. 

7.             In
the event that Party A changes its business address or notice, it shall inform
Party B in writing in a timely manner. Any damage incurred due to delayed notice
shall be burdened by Party A. 

8.             Collection
of Accounts Payable 

For all the accounts payable of Party A under the Contract,
Party B is authorized to withdraw RMB or other equivalent currency from the
account of Party A opened in the banking system of the China Construction Bank
without informing Party A in advance. When the foreign currency needs to go through foreign
exchange settlement or procedures of sale of foreign currency, Party A shall
coordinate such settlements and procedures. The exchange risk rate shall be the
responsibility of Party A. 

Exhibit 10.4 

9.             Dispute
Resolutions 

Any dispute occurs in the course of performing the Contract.
Such dispute could be resolved by negotiation otherwise, it will be resolved via
the 1st method as follows: 

(1)             File
a suit in the People’s Court where Party B resides. 

(2)             Submit
the dispute to ______________ Arbitration Commission (the location is
____________________) in accordance with current and valid rules implemented by
the Commission. The arbitral verdict is final and binding for both Parties. 

In the course of a litigation or arbitration, other sections
not involved in the dispute shall still be performed. 

10.            Pre-condition
of Effectiveness 

The Contract will be effective after signed and chopped by both
the legal representative (supervisor) of Party A or its authorized power of
attorney and the legal representative (supervisor) of Party B or its authorized
power of attorney. 

11.            The
Contract is in three duplicates. 

12.            Other
agreed items. 

The credit under this Contract is within the scope of the
Maximum Mortgage Agreement titled 2009 Jian Ping Song Gao Di Zi No.1

	ARTICLE 12 	CLARIFICATION PROVISIONS
  

1.             Party
A clearly understands the business and limited authorization of Party B. 

2.             Party
A has reviewed all the provisions under the Contract. As required by Party A,
Party B has provided relevant explanation of provisions of the Contract. Party A
has fully understood and acknowledged the meaning of the provisions under the
Contract and the legal consequence hereof. 

3.             The
signing and performing of the obligations under the Contract by Party A satisfy
laws, regulations, ordinances and articles of association or internal documents
of Party A. Party A has obtained the approval by both its internal department
and/or competent State authorities. 

Exhibit 10.4 

4.             The
production and operation of Party A are in compliance with laws and regulations.

5.            
Party A is capable of a consecutive operation and legal sources of repayment the
Loan. 

6.             Party
A covenants that the Loan under the Contract demonstrates the real need of using
the Loan and does not exceed the actual need. 

7.             Good
credibility of both Party A and its controlling shareholder without any bad
records. 

8.             Party
B is authorized to entrust other branches of the China Construction Bank to
issue the Loan under the Contract, perform and fulfill the obligations and
duties under the Contract. Party A shall not object such entrustment. 

9.             Party
A covenants that, at the time of making this Contract, no behavior or event of
breaking any laws, regulations and ordinances regarding environment protection,
energy saving and emission reduction and reduction of pollution, and Party A
will strictly obey relevant laws, regulations and ordinances regarding
environment protection, energy saving and emission reduction and reduction of
pollution. If Party A falsely makes the above statements, fails to perform the
above covenants, or any possibility that any occurrence of energy consumption or
risk of pollution, Party B is authorized to stop issuing the Loan, declare the
maturity of the credit ahead of schedule, or resort to other remedies as agreed
under this Contract or permitted by laws. 

Party A (office seal): Fujian Yada Group Co., Ltd 

Legal Representative (person-in-charge) or Authorized Proxy
(Signature): 

Date: February 15, 2011 

Party B (office seal): China Construction Bank Corporation
Limited Songxi Sub-branch 

Legal Representative (person-in-charge) or Authorized Proxy
(Signature): 

Date: February 15, 2011 

Exhibit 10.4 

Annex 1 

Basic Situation of the Loan

1.             Detailed
  Use of the Loan under the Contract 

Purchasing bamboo shoot and canned bamboo shoot 

Unless obtaining a written consent by Party B, Party A can not
change the detailed use of the Loan. 

2.             Source
of the Repayment under the Contract 

Business Income 

Party A shall guarantee the authenticity, legality of the
source of the repayment and flow of the repayment shall be stable and
sufficient. 

3.             Others:

None. 

Exhibit 10.4 

Annex 2 

Financial Index Binding Provisions 

Financial index of Party A shall consecutively satisfy the
following restrictions: 

The liquidity ratio is no less than 1, the quick ration is
no less than 0.5 and the asset-liability ratio is no more than 60%. 

Party B is authorized to change the above restrictions upon
informing Party A fifteen (15) days in advance.Asia Green Agriculture Corporation: Exhibit 10.5 - Filed by newsfilecorp.com

Exhibit 10.5 

Natural Person Guarantee Contract 

 

Fujian Branch of China Construction Bank 

Exhibit 10.5 

The contract is entered into by the following parties:

Guarantor (Party A): Please see Article 10 of the contract for
  details. 

Creditor (Party B): Please see Article 10 of the contract for
  details.

Article 1     SCOPE OF GUARANTEE

Please see Article 11 of the contract
for details.

Article 2     METHOD OF
GUARANTEE

Party A shall provide joint
responsibility guaranty under the contract.

Article 3     GUARANTEE PERIOD 

The guarantee period is from the
effective date of this Contract and ends two years from the expiration of the
debt performance term under the Main Contract. In case Party A agrees to extent
the debt performance term, the guarantee period ends two years from the
expiration of the extended debt performance term under the Main Contract. If
Party B announces advanced maturity of debts according to the Main Contract, the
guarantee period ends two years from the advanced maturity date of debts
announced by Party B. In case the debts under the Main Contract are paid in
installments, the guarantee period of each installment is two years from the
expiration date of the debt performance term of the last installment.

Article 4     INDEPENDENCE OF THE
GUARANTEE CONTRACT

The validity of the guarantee contract
is independent from that of the Main Contract. The failure, invalidation,
partial invalidation, or cancellation of the Main Contract does not affect the
validity of the guarantee contract. If the Main Contract fails, is invalidated,
partially invalidated, canceled or void, Party A shall be jointly responsible
for the debtor’s debts due to return of properties or compensation of
losses.

Article 5     CHANGE OF MAIN CONTRACT

	 	I. 	
      Party A agrees to be jointly and severally responsible
      for the debts under the amended Main Contract, in the event that Party B
      and the debtor agree to amend the Main Contract provisions in writing
      (including but not limited to the repayment currency, repayment method,
      loan account No., repayment account No., expense utilization plan,
      repayment plan, value date and settlement date, startup date or expiration
      date of debts performance term if the term is not extended). However, if
      Party B and the debtor have extended the debt performance date or
      increased credit principal through agreement without Party A’s consent in
      advance, Party A shall be jointly and severally liable only for the debts
      according to the provisions of the Main Contract before the
    amendment.

	 	 	 	 
	 	II. 	
      Party A’s liability as a guarantor is not reduced or
      exempted due to any of the following conditions:

	 	 	 	 
	 		(I) 	
      Party B or the debtor has undergone change of formality,
      merging, integration, separation, capital increase/reduction, joint
      venture, joint business operation and name change;

	 	 	 	 
	 		(II) 	
      Party B has entrusted a third party to fulfill its due
      obligations under the Main Contract.

	 	 	 	 
	 	III. 	
      In case of invalidation, cancellation or voidance of any
      transfer of debts or credits under the Main Contract, Party A shall continue to be jointly and
severally responsible as a guarantor for Party B according to this Contract.

Exhibit 10.5 

Article 6     GUARANTORS’
LIABILITIES

	 	I. 	Party A shall be jointly and severally
      liable within the scope of guarantee, if the debts under the Main Contract
      are due or Party B announces advanced maturity of debts according to the
      Main Contract or laws, the debtor fails to fulfill in full amount and in a
      timely manner, or the debtor breaches other provisions of the Main
      Contract.
	 	 	 	 
	 	II. 	Whether Party B has other guarantee of
      credits under the Main Contract (including but not limited to various
      guaranty methods such as guaranty, mortgage, pledge, guaranty letter and
      standby L/C), whether the guaranties are valid and established, whether
      Party B claims its right to other guarantors, whether any third party
      agrees to be liable for total or partial debts under the Main Contract,
      and whether other guaranties are provided by the debtor, Party A’s
      liabilities as a guarantor under this Contract will not be reduced or
      exempted. Party B can directly require Party A to be liable within the
      scope of its guarantee according to this Contract; and Party A cannot
      raise any objections.
	 	 	 	 
		III. 	If Party A only provides
      guarantee for a part of the debts under the Main Contract, Party
      A agrees that even if the debtor repays part of the debt, or Party B
      partially exercises its right under other guarantees, or the debt was
      partially paid by other means, Party A will be responsible within the
      scope of the guarantee for the unpaid debt.
	 	 	 	 
	 	IV. 	If Party A only provides guarantee for
      part of the debts under the Main Contract, and if the debts under the Main
      Contract are not fully paid after Party A performs its obligation as a
      guarantor, Party A agrees not to cause any damage to Party B when it
      claims its subrogation right (including in-advance) against the debtor or
      other guarantors. Party A agrees that the right to receive repayment of
      debts under the Main Contract has priority over Party A’s subrogation
      right.
	 	 	 	 
	 		Before total repayment of Party B’s
      credits:
	 	 	 	 
	 		(a) 	Party A agrees not to claim its
      subrogation right against the debtor or other guarantors; once Party A has
      exercised the above right due to any reason, it shall use the payment from
      the claim to first repay the unpaid debt owned to Party B’s; 
	 	 	 	 
	 		(b)	 If the debts under the Main Contract have
      collateral, Party A agrees not to declare rights to the secured articles
      or the proceeds of sale of such articles for any reason including but not
      limited to subrogation rights. The secured articles or the proceeds of
      sales of such articles shall be first used to repay the unpaid debts owed
      to Party B.
	 	 	 	 
	 		(c) 	If the debtor or other guarantor has provided a
      counter-guarantee to Party A, Party A shall use the proceeds from the
      above counter-guarantees to first repay unpaid debt owed to Party B.
	 	 	 	 
	 	V. 	Party A fully understands the interest
      rate risks. Party A agrees to be jointly and severally responsible for the
      increased part due to the increase of the interest rate, the default
      interest or the compound interest, if Party B adjusts the interest rate
      according to the Main Contract, or the government adjusts the interest
      rate, calculation method or the settlement method.
	 	 	 	 
	 	VI. 	If the debtor has other loans from
      Party B other than the loans under the Main
Contract, Party B has the right to receive the debtor’s RMB or other
currency expenses in the account established in the system of China Construction
Bank to satisfy any expired debt. Party A’s guaranty responsibilities are not
reduced or exempted. 

Exhibit 10.5 

Article 7     PARTY A’S OTHER
OBLIGATIONS

	 	I. 	
      Party A shall supervise how the debtor uses the loans
      (including its purpose).

	 	 	 
	 	II. 	
      Party A shall provide Party B with its financial
      conditions and individual credit information, and guarantee that all
      materials provided are correct, true, complete and valid. Without written
      consent of Party B, Party A cannot provide to any Third Party with a
      guaranty that is out of its capacity.

	 	 	 
	 	III. 	
      In case of any changes to Party A’ s nationality, address
      or marital status, or if Party A has a serious health issue, receives
      administrative or criminal punishment, or is involved in a major civil
      dispute, deterioration of financial status, or loses or is likely to lose
      the capability to guarantee for any reason, Party A shall inform Party B
      immediately in writing, and perform undertaking, transferring or
      inheritance of guarantee liabilities herein as Party B requires, or
      provide a new guarantee for fulfillment of the Main Contract.

	 	 	 
	 	IV. 	
      If the company, of which Party A is in the position of
      controlling shareholder or actual controller, merges, dissolves, changes
      in entities, fluctuates the amount of capital, or is jointly-funded or
      jointly-operated, Party A shall inform Party B of such condition
      immediately.

Article 8     MISCELLANEOUS

	 	I. 	
      Allocation and charging of payable expense

	 	 	 
	 		
      As for Party A’s amount payable under the contract, Party
      B has the right to charge RMB or other currency expense from Party A’s
      account established in the China Construction Bank—it is not necessary to
      notify Party A in advance. Once it needs to handle the sales and
      purchasing of foreign exchange or exchange settlement, Party A is obliged
      to assist Party B; Party A shall bear the exchange rate risks.

	 	 	 
	 	II. 	
      Use of Party A’s information

	 	 	 
	 		
      Party A allows Party B to inquire Party A’s credit status
      from individual credit information database of People's bank of China or
      any other individual credit information database approved by credit rating
      authority or other relevant work unit, department and person. All credit
      report obtained are limited to be used on purposes stipulated in
      Provisional Rules on Management of Individual Credit Information Database
      issued by People’s bank of China. Party A allows Party B to provide its
      credit information for individual credit information database of People's
      bank of China or any other individual credit information database approved
      by credit rating authority. Party A also agrees that Party B may use and
      disclose its information reasonably for the necessary of
  business.

	 	 	 
	 	III. 	
      Collection by Public Notice

	 	 	 
	 		
      As for Party A’s breach of contract, Party B has the
      right to report to the relevant government agency and make an announcement
      through news media to collect the debt.

Exhibit 10.5 

	 	IV. 	
      Effect as Evidence of Party B’s record

	 	 	 
	 		
      Except for reliable and confirmed contrary evidence,
      Party B’s following documents constitute evidence to prove the credit
      relationship under the Main Contract: internal account record of Party B’s
      principal, interest, expense and repayment record; receipt and voucher
      during debtor’s handling withdrawal, repayment and interest payment made
      or reserved by Party B; loan collection record and voucher by Party B.
      Party A cannot object to Party B’s personal fabrication or reservation of
      the above records, receipts and vouchers.

	 	 	 
	 	V. 	
      Reservation of Right

	 	 	 
	 		
      Party B’s rights under the contract do not affect or
      eliminate any rights enjoyed according to relevant laws, stipulations and
      other contracts. Any grace, forgiving, preference or postponed exercising
      of any contract rights aimed at the breach or delay cannot be taken as the
      abandonment of rights and interests under the contract or permission or
      approval of any breach of contract; besides, they do not affect, block or
      hinder the continuous exercising of the rights or exercising of any other
      rights and do not ask Party B to bear any responsibilities and obligations
      for Party A.

	 	 	 
	 		
      Even if Party B fails to exercise or delays exercising of
      any rights under the main contract or fails to completely utilize any
      rescue operation under the main contract, Party A’s guaranty
      responsibilities under the contract can not be reduced or exempted;
      however, once Party B reduces or exempts the debts under the main
      contract, Party A’s guaranty responsibilities under the contract are
      reduced and exempted accordingly.

	 	 	 
	 	VI. 	
      Debtor’s dissolution or bankruptcy

	 	 	 
	 		
      In the event that Party A knows that the debtor has
      entered into dissolution or bankruptcy procedure, it shall immediately
      notify Party B to report the debts; at the same time, it shall participate
      in the dissolution or bankruptcy procedure in a timely manner and exercise
      the claim right in advance. If Party A knows or should have known that the
      debtor has entered into dissolution or bankruptcy procedure but fails to
      exercise the claim right in advance, Party A shall be responsible the
      incurred losses. In spite of Article 5 (2), if Party B and debtor reach a
      reconciliation agreement in the debtor’s bankruptcy procedure or a
      restructuring plan, Party B’s rights under the contract are not affect by
      reconciliation agreement or restructuring plan; Party A’s guarantee
      responsibilities are not reduced or exempted. Party A can not defend
      against Party B’s claim of right through the conditions stipulated in the
      reconciliation agreement and restructuring plan. As for the credits
      compromised by Party B in the reconciliation agreement and restructuring
      plan to the debtor without repayment, it still has the right to require
      Party A for continuous repayment.

	 	 	 
	 	VII. 	
      In case of any changes in Party A’s communication address
      or contact method, it shall immediately notify Party B in written form; in
      case of any losses arising from timely notification failure, Party A shall
      bear relevant losses by itself.

	 	 	 
	 	VIII. 	
      If Party A or debtor fails to strictly comply with
      relevant laws, stipulations or regulations concerning environmental
      protection, energy saving, discharge reduction and pollution reduction or
      in case of any possible energy consumption and pollution
  risks, Party B has the right to exercise the guaranty rights
      under this Contract in advance and adopt other remedial measures permitted
      by the contract or law.

Exhibit 10.5 

	 	IX. 	
      Conditions for the effectiveness of the
Contract

	 	 	 
	 		
      This Contract becomes effective upon signature or
      official seal by Party A’s legal representative (responsible person) or
      authorized agent and signature or official seal by Party B’s responsible
      person or authorized agent.

Article 9     PARTY A’S REPRESENTATIONS
AND GUARANTEES 

	 	I. 	
      Party A fully understands Party B’s business scope and
      authorized power.

	 	 	 
	 	II. 	
      Party A has read all the provisions of the contract and
      main contract. In response to Party A’s requirements, Party B has
      specified relevant provisions of this contract and main contract. Party A
      has known and adequately understood the meaning of provisions in this
      contract and main contract and its legal consequence.

	 	 	 
	 	III. 	
      Party A has the legal qualification of a
  guarantor.

	 	 	 
	 	IV. 	
      Party A has confirmed it adequately knows the debtor’s
      assets, debts, business, credits and reputation, whether it has the main
      qualification and power of signing the main contract as well as all the
      contents of main contract.

Exhibit 10.5 

Particular Signing Provisions 

This personal guarantee contract is 2011 Jian Ping Song Dai CZ
Zi Bao Zi No.1-1 

Article 10     INFORMATION OF
CONTRACTORS

Guarantor (Party A): Zhan Youdai, Zhou Liufeng 

Certificate Name and No: ID number: 352128196909072016,
352128197111071529 

Address: No 6-1, Shui Nan Gong Ye Road, Songxi County 

Post Code: 353500 

Tel: 2325600 

 

Creditor: China Construction Bank Co., Ltd Songxi Branch 

Address: No 121 Jiefang Street, Songyuan Town, Songxi County

Post Code: 353500 

Principal: Liu Liquan 

Fax: 0599-2322644 

Tel: 0599-2322670 

To ensure the performance of the RMB Liquid Fund Loan
Contract (hereinafter referred to as the Main Contract, No.:
(2011) Jian Ping Song CZ Zi No.1) entered into by and between Fujian Yada
Group Co., Ltd (hereinafter referred to as Debtor) and Party B, Party A
agrees to assume the jointly guarantee liability for the debt under this
contract. The Parties hereby agree to enter into this contract based on the
mutual consent of consultation and comply with the terms hereof. 

Article 11     AGREEMENTS TO ARTICLE

The contract guaranty scope includes
the following Type II:

	 	I. 	
      All the debts under the main contract include (but not
      limited to) total principal, interest (including compound interest and
      penalty interest), breach penalty, compensation, other expense paid by
      debtor to Party B (including but not limited to relevant handling fee,
      telecom expense, sundry expense and relevant bank expense rejected by
      foreign beneficiary), Party B’s expense in realizing credits and guaranty
      rights (including but not limited to lawsuit expense, arbitration expense,
      property safeguard expense, travel expense, implementation expense,
      evaluation expense, auction expense, notarization expense, transportation
      expense, announcement expense and lawyer’s expense).

	 	 	 
	 	II. 	
      The principal under the main contract (currency: RMB) (In
      Words: RMB Three Million and One Hundred Thousand yuan) and
      interest (including compound interest and penalty interest), breach
      penalty, compensation, other expense paid by debtor to Party B (including
      but not limited to relevant handling fee, telecom expense, sundry expense
      and relevant bank expense rejected by foreign beneficiary), Party B’s
      expense in realizing credits and guaranty rights (including but not
      limited to lawsuit expense, arbitration expense, property safeguard
      expense, travel expense, implementation expense, evaluation expense,
      auction expense, notarization expense, transportation expense,
      announcement expense and lawyer’s expense).

Exhibit 10.5 

Article 12     DISPUTE SETTLEMENT

Any and all disputes arising in the
performance of the Contract shall be settled through negotiation. In case that
no settlement can be reached through negotiation, the disputes shall be settled
by the first method as follows. 

	 	(1) 	
      Instituting legal proceedings in the People’s Court of
      competent jurisdiction at Party B’s domicile.

	 	 	 
	 	(2) 	
      Submitting to (left blank) Arbitration Commission (place
      of arbitration: (left blank) ) for arbitration in accordance with the
      arbitration rules of the Arbitration Commission in force at the time of
      application. The arbitration award shall be final, and binding upon both
      parties.

	 	 	 
	 		
      During the process of litigation or arbitration, the
      Parties shall continue to implement this contract, except for the matters
      in dispute.

Article 13     THIS CONTRACT SHALL BE
PREPARED IN DUPLICATE 

Article 14     OTHER AGREED ITEMS

This filed is left blank. 

Exhibit 10.5 

Party A (Official seal):

Legal representative (Person-in-charge) or authorized agent (Signature):
  Zhan Youdai, Zhou Liufeng (Signature) 

Date: February 15, 2011

 

Party B (Official seal): China Construction Bank Co., Ltd.
Songxi Branch (Seal affixed) 

Responsible person or authorized agent (Signature): Ou
  Wenbin (Signature) 

Date: February 15, 2011

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