Document:

exv10w3

10.3 Maximum Property Guarantee Contract, dated July 13, 2009, by and among

Shandong Xiangrui, and Shandong Xinrui Chemical Devices Co., Ltd., and Citibank

Shanghai, for RMB 80 million

	•	 	Main Contents

	 	•	 	Contract No.: MR748004090713

	 	•	 	Execution Date: July 13, 2009

	 	•	 	Guarantor: Shandong Xiangrui Pharmacy Co., Ltd., and Shandong Xinrui
Chemical Devices Co., Ltd.

	 	•	 	Guarantee: Citibank Shanghai

	 	•	 	As guarantor, Shandong Xiangrui Pharmacy Co., Ltd. and Shandong Xinrui
Chemical Devices Co., Ltd. undertake to assume joint and several liabilities for
Runyin Bio-chemical Co., Ltd’s indebtedness towards Citibank Shanghai under a
Uncommitted Short Term Cycling Finance Agreement with Contract No.: FA748004090713.

	 	•	 	Guarantee Items: Shandong Xiangrui Pharmacy Co., Ltd. agreed to created
mortgage over land use right (Certificate No.: Dong Guo Yong 2008 No. 31; area:
43,249 m2) and the properties (Certificate No.: Dong Guo Yong 2008 No. 10288; area:
12,713 m2) to secure the payment of the debts under the main loan agreement. Shandong
Xinrui Chemical Devices Co., Ltd. agreed to created mortgage over land use right
(Certificate No.: Dong Guo Yong 2008 No. 513; area: 39,575 m2) and the properties
(Certificate No.: Dong Guo Yong 2008 No. 10289; area: 5,897.42 m2) to secure the
payment of the debts under the main loan agreement.

	 	•	 	The maximum amount of the guarantee is RMB 57,686,231.

	 	•	 	The mortgage term is from August 10, 2009 to August 10, 2014.

	 	•	 	Secured Items: the loan principal, interest, penalty interest, damages,
compensation and all the expenses incurred for Citibank (China) Co., Ltd., Shanghai
Branch to realize its creditor’s right under Loan Agreement.

	 	•	 	Liabilities of Breach of Contract: Guarantor shall compensate guarantee any
loss suffered from Shandong Runyin Bio-chemical Co., Ltd.’s breach of contract.

 

 

 

	•	 	Headlines of the articles omitted

	 	•	 	Commitment of guarantor

	 	•	 	Assumption of guarantor’s responsibility

	 	•	 	Dispute settlement

	 	•	 	Miscellaneous

	 	•	 	Effectiveness

	 	•	 	Validity

	 	•	 	Attentionexv10w8

10.8 Guarantee Contract, dated June 17, 2010, between Mr. Xuchun Wang and

Bank of Communications, for a RMB 5 million loan.

Ref. 379110A120100006802

Guarantor: Wang Xuchun

ID: 370323197302041537

Mobile Phone No. 13583839797

Loaner: Bank of Communications, Tai’an Branch,

Borrower: Shandong Xiangrui Pharmacy Co., Ltd

To ensure the performance of the borrower’s obligations and the effectuation of the loaner’s rights
under the Loan Agreement (Ref. S379110M120100074328) entered between and by the borrower and the
loaner, the guarantor is willing to offer his warranty as guarantee for the loaner.

1. The type and the amount of the loan

The type of the loan is the principal under the main contract. The amount is RMB
5,000,000 Yuan.

2. The responsibility of guarantee

2.1 The guarantee is a joint responsibility guarantee.

2.2 The guarantee scope is the principal, interest, expense, default interest, damage, penalty, and
other cost under the main contract, includes but not limits to fees of suit, fees of arbitration,
fees of attachment, fees of assessment, fees of auction, fees of enforcement, fees of legal
service.

2.3 The term of the guarantee is two years after the expiration of the debt.

2.4 The effectiveness of the contract is independent of that of the main contract. If the main
contract or certain items of the main contract are invalid, the effectiveness of the contract shall
not be affected. The guarantor shall assume joint and several responsibilities if the borrower
assumes responsibility to make compensation.

3. Representation and guarantee of the guarantor

3.1 The guarantor has complete capacity under the PRC legislation and is available to offer
guarantee for others as guarantor.

3.2 The guarantor has valid and full right to sing this contract.

3.3 The information provided by the guarantor to the loaner is true, accurate, complete and valid.

 

 

 

4. The obligation of the guarantor

4.1 The guarantor shall pay the due debt to the loaner if the borrower fails to pay the debt.

4.2 The guarantor should accept the inspection organized by the loaner, and provide the
information, documents required by the loaner.

4.3 The guarantor shall notice the loaner 30 days in advance, and shall not take the following
action without the written consent from the loaner, in the event that:

(1) the guarantor sells, grants, lease out, transfer, mortgage or dispose its material assets;

(2) the guarantor conducts any activities to change its operating mechanism, including but without
limitation to contracting for management, lease out, joint operation, combination, merger,
division, joint venture, transfer of assets, and any other activities which shall harm the
realization of the loaner’s rights hereunder;

4.4 The guarantor shall notice the loaner 7 days in advance, and shall not take the following
action without the written consent from the loaner, in the event that:

(1) the guarantor conducts any changes to change its articles of associations, organization
structure, name, address, or other changes;

(2) the guarantor plans to apply bankruptcy;

(3) the guarantor is involved in material lawsuit, administration measures, or its major asset is
under administration measures;

(4) the guarantor provides guarantee to the other party, and brings material harm to its financial
situation;

(5) the guarantor executes material contracts which will bring material influence to its operation
and financial situation;

(6) the guarantor is occurred any events shutdown, shutout, revocation of business license,
deregistration, bankruptcy;

(7) the main responsible personnel of the guarantor is in breach of rules of exchange;

(8) the guarantor’s operation and finance is occurred to material troubles;

(9) the guarantor’s job, income or address is changed.

4.5 The guarantor shall not ask the borrower to make compensation before the borrower clears the
debts to the loaner.

4.6 The guarantor shall still assume the joint and several responsibilities if the main contract is
changed. But the guarantor shall assume the responsibility according to the amount, currency,
interest, and term of the previous debt, if the amount, currency, interest, and term is altered
without the prior consent from the guarantor.

5. Withdrawal

5.1 The guarantor authorizes the loaner to withdraw the due debt from its account opened with the
loaner if the borrower fails to pay the due debts.

5.2 The loaner shall notice the guarantor after the withdrawal.

5.3 If the withdrawal is not sufficient to clear all debts, the withdrawal shall be used to pay the
due fees, then in the following order:

(1) if the debt under the loan (not personal loan) expire less than 90 days, the balance of the
withdrawal shall be use to pay the due interest, then the principal; if the debt under the loan
(not personal loan) expires more than 90 days, the balance of the withdrawal shall be use to pay
the due principal, then the interest;

(2) if the debt under the bank draft, letter of credit, the balance of the withdrawal shall be use
to pay the due principal, then the interest;

(2) if the debt under the personal loan, the order to use the withdrawal shall follow the main
contract.

 

 

 

5.4 If the currency of the withdrawal is different with that of the debt, it shall be calculated
according to the foreign exchange rate published by the loaner.

6. Dispute Settlement

Any dispute engaged in the performance of the guarantee contract would be settled by the
loaner-placed court after failure of the parties’ negotiation. The articles of the guarantee
contract which are not involved in the dispute would be still in performance during the suit.

7. Miscellaneous

7.1 If the guarantor is in breach of the contract, the loaner has right to publish its acts on
public media.

7.2 The guarantor has read through the main contract, and acknowledges the main contract.

7.3 The contract shall take effect if the following conditions are satisfied: (1) the authorized
person of the guarantor or the guarantor signs and stamped the contract; (2) the authorized person
of the loaner signs and stamped the contract;

7.4 The contract has three duplicates, each is held by the guarantor, loaner and borrower.

The loaner has request the guarantor to notice and develop a complete and accurate understanding to
the terms and conditions hereunder, and the loaner has made corresponding explanation to concerning
terms and conditions. Both parties have the same understanding to this Agreement.

Loaner: Bank of Communications, Tai’an Branch

Date: June 17, 2010

Guarantor: Wang Xuchun

Date: June 17, 2010

Spouse: Meng Guangxiang

Date: June 17, 2010exv10w11

10.11 Loan Agreement, dated December 29, 2010, between Shandong Xiangrui and

Rural Cooperative Bank of Dongping County, for RMB 10 million

	•	 	Main contents:

	 	•	 	Contract No.: Shandong Dongping Nongcun Hezuo Yinhang Liu Jie Zi (2010 No.
0042)

	 	•	 	Execution Date: December 29, 2010

	 
	 	•	 	Borrower: Shandong Xiangrui Pharmacy Co., Ltd.

	 
	 	•	 	Lender: Rural Cooperative Bank of Dongping, Shandong

	 
	 	•	 	Loan Amount (RMB): RMB 10 million

	 
	 	•	 	Purpose of the Loan: purchase of corn

	 
	 	•	 	Contract Term: December 29, 2010 to December 8, 2012

	 
	 	•	 	Interest Rate:

	 	•	 	The fixed annual interest rate is 11.62%.

	•	 	Rights and Obligations of the Lender:

	 	•	 	Lender is entitled to get the information such as Borrower’s operation,
financial activities, inventory and loan usage. Lender could require
disclosure of Borrower’s financial status.

	 	•	 	Lender can cease to lend the loan or withdraw the loan before the due
date in the situation caused by Borrower which would be detrimental to the
safety of the loan.

	 	•	 	When withdrawing the principal and relevant fees on due or before the due
date, Lender could obtain the money from Borrower’s account directly.

	 	•	 	In the event of breaches of the agreement by Borrower, Lender can
disclose Borrower’s breaches of the agreement publicly when the Borrower do
not performance his (her) obligations.

	 	•	 	Lender shall disburse the loan in a timely manner pursuant to the
agreement.

	•	 	Rights and obligations of the borrower

	 	•	 	Borrower is entitled to obtain and use the loan pursuant to the
agreement.

	 	•	 	Borrower shall make the balance of the loan through the contracted
account pursuant the agreement.

	 	•	 	Borrower shall complete the relevant procedure when the loan is a foreign
currency loan.

	 	•	 	Borrower shall return the principal on March 14, 2012 and pay the
interests per month. Borrower can extend the term of the loan when getting
the consent of Lender pursuant to the agreement.

	 	•	 	Borrower must make the usage of the money in conformity with the purpose
of the loan contracted in the agreement.

 

 

 

	 	•	 	Borrower should inform the relevant financial information to Lender
monthly and cooperate with Lender for the investigation of the loan.

	 	•	 	When Borrower’s conduct may be probably detrimental to the debt
relationship within the loan agreement, the conduct could only be valid when
a written notification has been informed to Lender in advance to get the
consent of Lender and the Borrower has made a promise on clearing liability
under the agreement.

	 	•	 	Consent of Lender should be obtained when any of the Borrower’s
guaranties or mortgages on his (her) major assets for a third party is
possible to be detrimental to Borrower’s capability of repayment under the
agreement.

	 	•	 	Borrower and his (her) investors shall not spirit the money, transfer the
assets or alien the shares to evade the obligations to Lender pursuant to
the agreement.

	 	•	 	A written notification should be informed to Lender when there is any
alternation of Borrower’s name, legal representative, address and business
scope.

	 	•	 	When the guaranty capability of Guarantor under the agreement or the
value of any mortgaged items under the agreement get detriment, Borrower
should offer other guaranty or mortgage accepted by Lender timely.

	 	•	 	Borrower bears the relevant fees under the agreement.

	 	•	 	Prepayment of the Loan:

Lender’s consent should be obtained if Borrower is willing to prepay the loan. The
interest rate of prepayment shall accord with the agreement.

	 	•	 	Liabilities of Breach of Contract:

Damages, penalty interest for delayed repayment; penalty interest for embezzlement of
loan proceeds; imposition of compound interest; withdrawal of loan, prepayment of
principal and interest before maturity, attachment of assets; lawyer’s fee and travel
cost in case of litigation or arbitration due to the Company ’s breach of contract
etc.

	 	•	 	Guarantee of the loan

The loan is secured by Guarantee Contract (Contract No.: Shandong Dongping Nongcun
Hezuo Yinhang Bao Zi 2010 No. 0042)

	•	 	Headlines of the articles omitted

	 	•	 	Types of the loan

	 	•	 	Clearing of the loan interest

	 	•	 	Condition precedent to the drawing of the loan

	 	•	 	Dispute settlement

	 	•	 	Miscellaneous

	 	•	 	Effectiveness

	 	•	 	Validity

	 	•	 	Attention

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