Document:

Unassociated Document

    Exhibit
10.53

      

    Maximum
Guarantee Agreement

     

    
      NO.13108209121002-01

    

     

    The
Parties:

     

    Creditor (Party
A):

     

    Anyang Branch,
Guangdong Development Bank

     

    Address: Xiduan. Renmin Street,
Anyang

     

    Legal
Representative/Responsible Person: Shen
Xueqing      Title: President

     

    Tel:
0372-5972500   Fax:
0372-5937949       Postal
Code: 455000

     

    Guarantor (Party B): Henan Shuncheng Group Coal
Coke Co., Ltd

     

    Address:
Tongye Town, Anyang
County

     

    Legal
Representative/Responsible Person: Wang Xinshun Title:
Legal
Representative

     

    Business
License NO.: 4105221000038

     

    ID NO.
(For natural person)  ____/____

     

    Tel:
0372-5601887   Fax:  0372-5601887                Postal
Code:
455131

     

    Opening
Bank:

     

    Basic
Account/Settlement Account: Tongye Office, Anyang
Agricultural Bank of China.

     

    Account
No.: 

     

    General
Account/Savings Account:  (1)            /        Account
No. ____/____

     

                                  (2)
        /           Account
No. ____/____

     

    Signed at Anyang,
Henan

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Whereas
Party B voluntarily provide guarantee to Party A for the fulfillment of the debt
under the Principal Agreement as stated in Article 1 hereinafter, the parties
hereto enter into this Agreement through equal negotiation, the terms hereof
shall be interpreted in accordance with the Principal Agreement, unless
otherwise specified.

     

    
      Article
1 the
Principal Agreement

    

     

    The
Principal Agreement refers to the definition A:

     

    
      	
              A.

            	
              The
      Comprehensive Credit Line Contract, dated in 6 July 2009, numbered 13108209121002,
      reached in by and between Party A and Anyang Hubo Cement co.
      Ltd. of Henan Province (hereinafter referred to as the “Debtor”) and its
      amendments or supplementary agreements (including but not limited to
      Extension Agreement. If that agreement has single agreements signed, the
      single agreements thereof shall also be involved in the Principal
      Agreement if any.)

            

    

     

    
      	
              B.

            	
              A
      series of agreements and their amendments or supplements (including but
      not limited to extension agreements) signed by Party A and ___/____
      (hereinafter referred to as the “Debtor”) from       /   (date)   to      /    (date)  .

            

    

     

    
      Article
2 Maximum
Amount

    

     

    
      	
              2.1

            	
              The
      Maximum Amount of loan principal guaranteed by this
    Agreement:

            

    

     

    Currency:
RMB

     

    THIRTEEN MILLION
YUAN

     

    RMB
13,000,000.00

     

    
      	
              2.2

            	
              All
      the amount and expenses defined in Article
4.

            

    

     

    The
Maximum Amount of Credit covered by this Agreement shall be the sum of the
amount specified in the above two clauses.

     

    
      Article
3 Type
of Guaranty

    

     

    
      	
              3.1

            	
              The
      guaranty mode hereof is guaranty with joint and several
      liabilities;

            

    

     

    
      	
              3.2

            	
              The
      guarantors shall form several joint guarantees and undertake joint and
      several liabilities in case of several guarantors under this
      Agreement.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Article
4 Scope
of Guaranty

    

     

    The
guaranty covers principal, interests, default interest, compound interest,
liquidated damages, all expenses incurred in the performance of the Creditor’s
Rights (including but not limited to litigation fee, arbitration fee, attorney
fee, travel expenses, enforcement fee, expenses for preservation of property,
evaluation fees, charge for auction or disposition of property, transfer fee and
announcement fee) and other payable expenses.

     

    
      Article
5 Guaranty
Period and Limitation of Action

    

     

    
      	
              5.1

            	
              Guaranty
      Period: two years as of the maturity date of the debt performance period
      under the Principal Agreement.

            

    

     

    
      	
              5.2

            	
              the
      guaranty period shall be two years after the date when Party A notify the
      debtor of the prepayment in writing in case that Party A requires the
      debtor to prepay the debt in accordance with laws or the Principal
      Agreement;

            

    

     

    
      	
              5.3

            	
              Party
      A has the right to ask Party B assume the guarantee liability of the Debt
      in whole or in part, together or separately for one or more debts during
      the guaranty period. The guaranty period for any one debt shall be from
      the effective date of this Agreement to two years as from the expiry of
      last installment loan in case of the repayment in installments for the
      debt.

            

    

     

    
      	
              5.4

            	
              If
      the principal creditor’s right has not been fully repaid, Party A will ask
      the guarantor(s) to undertake the guarantee liability before the expiry of
      the guaranty period as stipulated in this Article. The Limitation of
      Action shall be calculated and applied from the date when the creditor
      asks the guarantor(s) to assume the guarantee
  liability.

            

    

     

    
      Article
6 Enforcement
of Guarantee

    

     

    
      	
              6.1

            	
              Party
      A can directly ask Party B to pay the loan principal and interest and
      relevant expenses which the Debtor fails to repay according to the
      principal agreement, and Party A is entitled to claim for the amount due,
      and to deduct the payable amount of which the debtor should repay in the
      accounts Party B opened with Party A or any branches of Party A without
      Party B’s permission.

            

    

     

    
      	
              6.2

            	
              In
      case the debt is guaranteed by both the personal guarantee and guarantee
      in rem, then if the debtor fails to repay the debt due or the circumstance
      where the guarantee shall be enforced as agreed by the parties happens,
      Party A is entitled to choose guarantee in rem as the way to perform the
      guarantee, as to the debt with both the personal guarantee and guarantee
      in rem, or require Party B to assume the guaranty
    liability.

            

    

     

    
      	
              6.3

            	
              Party
      A is entitled to ask Party B to assume the guarantee liability beforehand
      by written notification in case of any circumstance as
      follows:

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              a.

            	
              The
      Principal Agreement shall be canceled upon conditions stipulated by the
      law or terms and conditions;

            

    

     

    
      	
               
      

            	
              b.

            	
              The
      debt under the Principal Agreement can not be liquidated or liquidated in
      whole when other situations agreed by the parties in the Principal
      Agreement for the early repayment of the debt
  happen.

            

    

     

    
      	
              6.4

            	
              Other
      guarantors (and/or Party B) undertake to assume their guarantee
      liabilities even after the Creditor waives the guarantee rights or the
      priority of the guarantee in rem or changes the guarantee in
      rem.

            

    

     

    
      Article
7 Declaration
& Commitment

    

     

    Party B
states and undertakes as follows:

     

    
      	
              7.1

            	
              Party
      B shall be a company or an organization that has been legally established
      and lawfully exists and has
      complete civil capacity to execute and perform this Agreement. Or Party B
      shall be a legally qualified natural person with complete civil capacity
      to execute and perform this
Agreement.

            

    

     

    
      	
              7.2

            	
              Party
      B fully understands the terms and conditions of the Principal Agreement;
      The execution and performance of this Agreement are based on the Party B’s
      real intent and free will while Party B has already obtained all the legal
      and valid authorization as required by its Articles of Association or
      other inner management files.

            

    

     

    If Party
B is a company, the Guaranty hereof has already been passed by the board of
directors and shareholders meeting according to the provisions of its Articles
of Association; If the there are limitation provisions applicable to the
guaranteed total amount and separate guaranty amount in the Articles of
Association, the guaranty hereof shall not exceed the stipulated
limit.

     

    Legal
representative or authorized representative signing the Agreement on behalf of
Party B shall sign this Agreement with legal, valid authorization from the
company; execution and performance of this Agreement shall not cause any breach
of any contracts, agreements or other legal documents that bind Party
B.

     

    
      	
              7.3

            	
              Party
      B shall promise all documents and materials submitted to Party A are
      accurate, real, complete and valid

            

    

     

    
      	
              7.4

            	
              Party
      B shall accept Party A’s supervision and inspection on the production and
      operation condition, financial condition, and shall provide necessary
      assistance and cooperation;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              7.5

            	
              Party
      B shall not conceal any already-taken huge debt before the execution date
      hereof;

            

    

     

    
      	
              7.6

            	
              If
      there are some circumstances that may affect Party B’s financial condition
      and performance capability, including but not limited to division, merger,
      joint operation, joint venture with foreign investment, cooperation,
      contractual operation, reorganization, restructuring, going public and
      other changes of forms, decrease of registered capital, transfer of
      significant asset or stock equity, undertaking of huge debt, annexation,
      dissolution, being shut-down, revocation of Business License,
      deteriorating of financial situation, bankruptcy application (or be
      applied), or involved in major litigation or arbitration, Party B shall
      notify Party A in writing in a timely
manner.

            

    

     

    
      	
              7.7

            	
              Party
      B vows to ensure the due performance of all guarantee liabilities under
      this Agreement in case of division, merger, shareholding system reform and
      other circumstances during the term of this
  Agreement.

            

    

     

    
      Article
8 Culpa
In Contrahendo

    

     

    In case
of invalidity of this Agreement for Party B’s fault in concluding this
Agreement, Party B shall reimburse any loss or damage Party A suffers as a
result of the invalidity.

     

    
      Article
9 Disclosure
of the Inner Related Parties of Party B And Related
Transaction

    

     

    The
parties hereto agree to adopt Section 9.1
hereunder:

     

    
      	
              9.1

            	
              Party
      B isn’t the group customer determined by Party B according to Guidelines of Commercial Bank
      to the Risk Management of Granting Credit to the Group Client,(
      ‘Guidelines’ for
      short);

            

    

     

    
      	
              9.2

            	
              Party
      B is the group client determined by Party A according to the Guidelines.
      Party B shall report to Party A the related transaction with an mount more
      than 10% of its net asset in a timely manner according to Article 17 of
      Guidelines, including the relation among transaction parties, transaction
      items and nature of the transaction, transaction amount or its proportion,
      pricing policies (including transaction without any price or only with
      nominal amount).

            

    

     

    
      Article
10 Party
A’s Rights & Obligations

    

     

    
      	
              10.1

            	
              The
      right to ask Party B to submit the documents which can verify Party B’s
      legal status;

            

    

     

    
      	
              10.2

            	
              The
      right to ask Party B to submit the financial report and other materials
      which explains its credit
information;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              10.3

            	
              The
      right to ask Party B to assume the guarantee liability under this
      Agreement upon the maturity of the debt if the debtor fails to liquidate
      wholly or partly the debt due.

            

    

     

    
      	
              10.4

            	
              Party
      A shall in a timely manner notify Party B in writing of the transfer if
      Party A transfers its rights as a creditor to the third party during the
      term of this Agreement.

            

    

     

    
      Article
11 Party
B’s Rights and Obligations

    

     

    
      	
              11.1

            	
              Party
      B shall sign and return the receipt to the person serving the loan
      collection documents sent or delivered by Party A. Party B shall send the
      receipt in three days after receiving the reminder letter or other
      collection documents (including but not limited to those sent by post,
      telex, cable, facsimile and Email).

            

    

     

    
      	
              11.2

            	
              Party
      B shall undertake the guarantee liability in the scope as defined in this
      Agreement notwithstanding the changes to the Principal Agreement by Party
      A and the debtor which could be made without Party B’s permission unless
      the change would impose more guarantee liability on Party B (except the
      interest change in accordance with relevant
  regulations)

            

    

     

    
      	
              11.3

            	
              In
      case Party A transfer the principal creditor’s right to any third person,
      then Party B shall continue to undertake the guarantee liability within
      the original scope.

            

    

     

    
      	
              11.4

            	
              Party
      B shall not provide the guarantee beyond its guarantee capability or
      dispose the asset in the ways that may jeopardize its guarantee
      capability, nor shall Party B cause any damage to Party A’s rights during
      the guarantee period. Party B is obliged to submit Balance Sheet and the
      description of the guarantees provided to external parties, and regularly
      or occasionally provide Party A with the financial statements and other
      documents which can explain its real financial situation in Party A’s
      request.

            

    

     

    
      	
              11.5

            	
              Party
      A is entitled to directly ask Party B to liquidate the debt under the
      Principal Agreement which is due or shall be repaid early according to
      relevant provisions if the debtor fails to repay the loan principal and
      interest in accordance with the Principal Agreement. Party B shall not
      decline any reimbursement claim made by Party A with any excuse and
      voluntarily waive its right of defense as stipulated in Article 20 of The
      Guaranty Law of the People's Republic of
China.

            

    

     

    
      	
              11.6

            	
              Party
      B agrees to assume the guarantee of joint and several liabilities as of
      the date when Party B receives written notification sent by Party A
      concerning cancellation of this Agreement or early recovery of the
      creditor’s right according to the laws or provisions during the term of
      this Agreement.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      Article
12 Breach
of Agreement

    

     

    Party B
shall be breach of this Agreement in one of the following
circumstances:

     

    
      	
              1.

            	
              Party
      B fails to fulfill guarantee liability timely according to the provisions
      of the Agreement;

            

    

     

    
      	
              2.

            	
              Party
      B makes fraudulent statement in the Agreement or breaches its commitment
      hereof;

            

    

     

    
      	
              3.

            	
              There
      happens any incident stipulated in paragraph 6 of Article 7 hereof which
      severely affects Party B’s finance condition and performance
      capability;

            

    

     

    
      	
              4.

            	
              when
      Party B’s business is terminated, dissolved, revoked or
      bankrupted;

            

    

     

    
      	
              5.

            	
              Breach
      of other provisions hereof by Party
B;

            

    

     

    
      	
              6.

            	
              Party
      B fails to provide corresponding guarantee or the guarantee can hardly
      meet Party A’s requirement in case that the senior management staffs of
      Party B are suspected of being involved in corruption, bribe-taking,
      jobbery or other illegal
management;

            

    

     

    
      	
              7.

            	
              Party
      B fails to provide corresponding guarantee or the guarantee can hardly
      meet Party A’s requirement in case that Party B is involved in severe
      financial loss, loss of assets or losses or other financial crisis caused
      by Party B’s external guarantee.

            

    

     

    
      	
              8.

            	
              Party
      B fails to provide corresponding guarantee or the guarantee can hardly
      meet Party A’s requirement in case that crisis occurs in management or
      financial affairs of controlling shareholders or other related companies
      of Party B, or Party B, controlling shareholders and other related
      companies are involved in a significant related transaction which may have
      effects on the operation of Party
B;

            

    

     

    
      	
              9.

            	
              Party
      B fails to provide corresponding guarantee or the guarantee can hardly
      meet Party A’s requirement in case of the adverse change in Party B’s
      industry;

            

    

     

    
      	
              10.

            	
              Party
      B’s infringement of other Agreements between Party B and Party A or other
      institutions of Guangdong Development
Bank.

            

    

     

    In case
there occurs any breach as above mentioned, Party A is entitled to adopt
following measures respectively or jointly based on each separate
circumstance:

     

    
      	
              1.

            	
              Require
      Party B to correct the breaches within a time limit and fulfill the
      guaranty liability timely;

            

    

     

    
      	
              2.

            	
              Decrease,
      suspend or terminate the line of credit to Party B totally or
      partly;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              3.

            	
              Suspend
      or terminate, totally or partly, to accept Party B’s loan application
      under other Agreements; Suspend or terminate, totally or partly, loan
      release of trade financing in
process;

            

    

     

    
      	
              4.

            	
              Declare
      due immediately, totally or partly, Party B’s unpaid principal, interests
      and other payables in connection with loan or trade financing loan under
      other Agreements ;

            

    

     

    
      	
              5.

            	
              Terminate
      or relieve the Agreement, terminate or relieve other Agreements between
      Party B and Party A totally or
partly;

            

    

     

    
      	
              6.

            	
              Require
      Party B to compensate losses of Party A resulting from the breach of
      Agreement;

            

    

     

    
      	
              7.

            	
              It
      only needs to send notification beforehand or afterwards for Party A to
      deduct the money in the account that Party B opens in Party A in order to
      pay off all or part of debt. The undue money in the account shall be
      regarded as due ahead of time. In case of any discrepancy between the
      currency of the accounts and the pricing currency of Party
      A’s  credit business, it shall be converted by the price of
      selling spot exchange at the deduction date when the pricing currency of
      Party A’s credit business is foreign currency; or be converted by the
      price of purchasing spot exchange at the deduction date when the pricing
      currency of Party A’s business is RMB
currency.

            

    

     

    
      	
              8.

            	
              Other
      measures Party A take for
necessary.

            

    

     

    
      Article
13 Validity,
Amendment, Termination and Suspension

    

     

    
      	
              13.1

            	
              This
      Agreement shall be effective from the date of signing and sealing by the
      parties to the date when the loan principal, interest, default interest,
      compound interest, liquidated damage, compensation, all expenses incurred
      in the enforcement of creditor’s rights and other payable expenses are
      paid off.

            

    

     

    
      	
              13.2

            	
              This
      Agreement has binding force on the parties and their respective legal
      successors or transferees after taking
effect;

            

    

     

    
      	
              13.3

            	
              This
      Agreement is independent of the Principal Agreement in the validity. In
      other words, the total or partial invalidity of the Principal Agreement
      shall not affect the effectiveness of this Agreement and the obligation of
      Party B;

            

    

     

    
      	
              13.4

            	
              This
      Agreement shall not be changed unilaterally or terminated early by either
      party after this Agreement becomes
effective;

            

    

     

    A written
change or revision agreement may be entered into after negotiation and mutually
agreed by both parties. Any revision or amendment shall constitute an
inseparable part to this Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    A written
agreement shall be reached between the parties hereto after negotiation in case
that the Agreement shall be terminated early. The terms and conditions of this
Agreement shall remain in force before the written agreement takes
effective.

     

    
      Article
14 Notarization

    

     

    The
parties hereby agree and confirm: this Agreement is held to be enforceable and
executed compulsorily after the notarization and Party A may apply for court
enforcement which Party B shall accept unconditionally and waive the right of
defense according to this Agreement in case that the debtor fails to repay the
principal and interest due and other payable expenses or of any infringement by
Party B as stipulated in Article 12 hereof,

     

    
      Article
15 Applicable
Law and Settlement of Disputes

    

     

    This Agreement
is governed and construed by laws of the People’s Republic of
China.

     

    All
disputes and argues arising from the performance of this Agreement shall be
solved through negotiation by the parties; if negotiation fails, both parties
agree to adopt the same settlement of disputes as stated in
the Principal Agreement;

     

    During
the settlement of dispute, other provisions in the Agreement that may not be
affected shall be performed continuously.

     

    
      Article
16 Special Statement of Party
B

    

     

    
      	
              16.1

            	
              In witness hereof Party B
      hereto has accurate and correct understanding of the terms and conditions
      of this Agreement and have conducted detailed negotiation of all clauses,
      free of any objection, to accept this Agreement without any limitation or
      exemption of Party B’s
liability;

            

    

     

    
      	
              16.2

            	
              with
      Party B’s authorization, Party A can submit the enterprise credit
      information to the credit service center of People’s Bank of China (or
      other finance regulatory organizations) during the term of the loan (or
      credit) and can inquire the above-mentioned organizations of the credit
      information of Party B and use the information at any
  time.

            

    

     

    
      Article
17 Supplementary
Provisions

    

     

    
      	
              17.1

            	
              The
      parties shall examine carefully the scope and prescriptive period of
      authorization of the counter-party and the signatory before the execution
      of this Agreement;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              17.2

            	
              The
      parties agree that the communication and contact addresses shall be the
      domiciles stated in this Agreement unless otherwise provided and promise
      to timely notify the other party in writing in case of the change of
      communication and contact
addresses.

            

    

     

    
      	
              17.3

            	
              In
      this Agreement:

            

    

     

    Responsible
person of Party A: Name:[illegible] Tel:
5972500

     

    Responsible
person of Party B: Name: [illegible] Tel: 5681368

     

    
      	
              17.4

            	
              Any
      appendixes, revisions or supplements to this Agreement shall form an
      integral part of this Agreement and shall share the same binding
      force with this Agreement.

            

    

     

    The
appendixes to this Agreement includes: Approved
List of Investigation of Guarantee and surety.

     

    
      	
              17.5

            	
              This
      Agreement shall be in duplicate, respectively held by Party A, Party B
      [and the registration authority], and the originals have same legal
      effect.

            

    

     

    
      Article
18 Other
Provisions (please attach separate sheet if necessary)

    

     

    Party B
voluntarily waives the right of defense that the joint and several liabilities
shall only be available to the debt other than the guaranteed debt, viz. Party
B, voluntarily and directly, without the prior enforcement of creditor’s right
by Party A, assume the joint and several liabilities of all outstanding debt in
case of any breach by the debtor.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      In
witness hereof the parties hereto by representative duly authorized have
executed the Agreement.

    

     

    Party
A:                                     
    Party B:

     

    Common
Seal:                                    
 Common Seal:

     

    Legal
Representative:                                 
Legal Representative:

     

    Authorized
representative: /s/ Shen Xue Qing    Authorized
representative: /s/ Wang Xinshun

     

    Dated
6th
Jul 2009Unassociated Document

    
      Exhibit
10.54

      

    

    
      
        
          	
                  SHANGHAI PUDONG DEVELOPMENT
      BANK

                	
                  MAXIMUM
      GUARANTEE AGREEMENT

                

        

      

    

    

    NO.
2B7601100928126001                                    

    

    SHANGHAI
PUDONG DEVELOPMENT BANK

     

     Maximum
Guarantee Agreement

    
      
         

      

      
        Page
1

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  SHANGHAI PUDONG DEVELOPMENT
      BANK

                	
                  MAXIMUM
      GUARANTEE AGREEMENT

                

        

      

    

    

    Agreement
of Guarantee of Maximum Amount

    

    Guarantor:
Anyang Xintianhe
Cement Co., Ltd

    Creditor:
Zhengzhou Branch,
Shanghai Pudong Development Bank

    

    Whereas:

    The
Guarantor voluntarily assumes the guarantee liability for the loan under
AGREEMENT (as specified in Article 7), in order to ensure the comprehensive and
timely performance of the obligations by the debtor under AGREEMENT and the
exercise of the Creditor’s rights.

    

    The
parties have reached a consensus through friendly consultation to conclude the
Agreement. The Parties will commit in accordance to the terms and conditions
stipulate hereunder.

     

    
      Article
1     Guaranteed
Creditor’s right(s)

    

     

    The
details of the guaranteed creditor’s right(s) are provided in Article 7 of this
Agreement.

     

    
      Article
2     Guarantee
Liability

    

     

    
      	
              2.1

            	
              Scope
      of Guaranty

            

    

     

    The
Guaranty covers Creditor’s right of the agreement, interests (the interests
mentioned hereinafter including interest, default interest, compound interest),
liquidated damages, compensation, charges, all expenses incurred in the signing
and performance of this Agreement and the expenses attributable to the exercise
of guarantee rights and the Creditor’s rights (including but not limited to
litigation fee, taxes, attorney fee, travel expenses, enforcement fee and charge
for auction or disposition of property) and the additional security deposit
required by the Creditor.

     

    
      	
              2.2

            	
              Mode
      of Guaranty

            

    

     

    The
Guaranty mode hereof is Guaranty with joint and several
liabilities;

    The
Guarantor confirms in case that the debtor fails to repay the debt in accordance
with the AGREEMENT, the Creditor is entitled to ask the Guarantor to assume the
guarantee liability in the scope defined in the Agreement, no matter whether the
Creditor has other security rights on the debt under the AGREEMENT (including
but not limited to security, mortgage and pledge), with no need to ask the other
Guarantors to assume the guarantee liability first.

    The
Guarantor hereby undertakes to waive the defense that claims for advance
enforcement of the guarantee in rem provided by the debtor.

    
      
         

      

      
        Page
2

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  SHANGHAI PUDONG DEVELOPMENT
      BANK

                	
                  MAXIMUM
      GUARANTEE AGREEMENT

                

        

      

    

     

    
      	
              2.3

            	
              Guaranty
      Period

            

    

     

    Guaranty
Period for each debt shall be calculated respectively and is from the maturity
date of each debt to two years after the maturity date in the
AGREEMENT.

    Party B
shall assume separately the guarantee liability of repayment installments of
each debt under the AGREEMENT during the term of the AGREEMENT. The Guaranty
period for any one debt shall be two years as from the expiry of last
installment loan in case of the repayment in installments for the
debt.

    The term
“maturity” and “expiry” stated in this Agreement includes the situation when the
Creditor announces the early maturity.

    The
maturity date of all debts or part of the debts shall be the early maturity date
in case of the announcement of early maturity.

    The
Guaranty Period shall be two years as of the expiry date provided in the
extension agreement if an extension agreement is reached between the Debtor and
the Creditor. The Guarantor’s joint and several liabilities for the debts shall
remain in force in the extended period without the Guarantor’s prior
content.

     

    
      	
              2.4

            	
              Alteration
      of AGREEMENT

            

    

     

    Any
extension and any deferred repayment permission the Creditor gives to the Debtor
and the amendments, alterations or replacements of any terms and conditions of
the AGREEMENT made by the Creditor and the Guarantor shall not have any effect
on the rights and interests of the Creditor under this Agreement and shall not
cause any diminishment of the guarantee liability based on the Guarantor’s
deemed content in the case.

     

    The issue
of L/C, Letter of Guarantee or Standby L/C by the Creditor, or any amendment of
the L/C, Letter of Guarantee or Standby L/C made by the Creditor and the
Guarantor shall not cause any diminishment of the guarantee liability with no
need to obtain the content of the Guarantor or prior notify the Guarantor based
on the Guarantor’s deemed content in the case.

     

    
      Article
3     Statements
& Commitments

    

     

    The
Guarantor states and undertakes as follows to the Creditor:

     

    
      	
              3.1

            	
              the
      Guarantor shall be a independent legal subject that has complete civil
      capacity to perform the obligations of the Agreement under the name of
      itself and assume the civil responsibility
  independently;

            

    

    
      
         

      

      
        Page
3

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  SHANGHAI PUDONG DEVELOPMENT
      BANK

                	
                  MAXIMUM
      GUARANTEE AGREEMENT

                

        

      

    

     

    
      	
              3.2

            	
              The
      Guarantor has the authority to sign the Agreement, and the Guarantor has
      already obtained all the authorization and approval required by the
      Agreement; The terms and conditions of this Agreement are reached on a
      basis of the Guarantor’s real intent and free will and shall have legal
      binding force on the Guarantor.

            

    

     

    
      	
              3.3

            	
              the
      Guarantor hereby undertakes that there is no any infringement of the laws
      (the laws hereof includes laws, regulations, rules, local laws and
      regulations, judicial interpretation), Articles of Association, relevant
      documents of the bodies with power, judgments or decisions and any
      conflict with other Agreements or agreements the Guarantor has already
      signed or any other obligations the Guarantor has already taken during the
      execution and performance of this
Agreement.

            

    

     

    
      	
              3.4

            	
              the
      Guarantor shall promise all financial statements (if any) complies with
      the laws and regulations of PRC (excluding Hong Kong, Macau SAR and Taiwan
      Region) and could gives a real, complete and unprejudiced explanation of
      the financial conditions of the Guarantor and all documents and materials
      submitted to Party A are accurate, real, complete, valid without any
      concealment.

            

    

     

    
      	
              3.5

            	
              the
      Guarantor shall vow to go through the filling, registration or other
      procedures required by the validity and legal performance of the Agreement
      and pay relevant expenses;

            

    

     

    
      	
              3.6

            	
              there
      occurs no big adverse change of the operational and financial situation
      since the latest audited financial
statement;

            

    

     

    
      	
              3.7

            	
              the
      Guarantor has disclose all the facts or information it knows or should
      know which is important for the Creditor to decide whether to offer the
      loan under the AGREEMENT;

            

    

     

    
      	
              3.8

            	
              the
      Guarantor hereby confirms any arrear of wage, medical care, disability
      benefits and compensatory payment has not happened or will not happen in
      the execution date and during the performance of this
      Agreement;

            

    

     

    
      	
              3.9

            	
              the
      Guarantor undertakes there is no situation or event that has or may have
      material negative effect on the performance capability of the
      Guarantor.

            

    

     

    
      Article
4     Other
Provisions

    

     

    
      	
              4.1

            	
              the
      Commitments of the Guarantor

            

    

     

    
      	
            	
              4.1.1

            	
              The
      Guarantor shall not take the following actions without the written content
      of the Creditor:

            

    

     

    
      	
            	
              4.1.1.1

            	
              dispose
      the whole or majority of the significant assets in ways of sale, donation,
      rent, transfer, mortgage, pledge or other
  measures;

            

    

    
      
         

      

      
        Page
4

        
          

        

      

      
         

      

    

    
      

      
        
          
            	
                    SHANGHAI PUDONG DEVELOPMENT
      BANK

                  	
                    MAXIMUM
      GUARANTEE AGREEMENT

                  

          

        

      

       

    

    
      	
            	
              4.1.1.2

            	
              change materially the operative
      mechanism or property organization form, including but not limited to
      the Agreement operation, leasing, consortium, corporation system
      reform, shareholding reform, share transfer, merger (or acquisition),
      joint venture with foreign investment (or cooperation), division,
      establishment of subsidiaries, transfer of property and decrease of
      registered capital;

            

    

     

    
      	
               
      

            	
              4.1.1.3

            	
              change
      the business scope or major businesses and to alter the Articles of
      Association;

            

    

     

    
      	
               
      

            	
              4.1.1.4

            	
              providing
      the guarantee to the third parties, which has huge negative effect on the
      Guarantor’s financial situation and its capability to perform the
      obligations under the Agreement;

            

    

     

    
      	
               
      

            	
              4.1.1.5

            	
              apply
      for reorganization, bankruptcy and dismissal of the
    company;

            

    

     

    
      	
            	
              4.1.1.6

            	
              Sign
      the contracts/agreements that have huge adverse effect on the Guarantor’s
      ability to perform the obligations under the Agreement or assume relevant
      obligations that have same effect.

            

    

     

    
      	
            	
              4.1.2

            	
              the
      Guarantor undertakes to promptly notify the Creditor of the event on the
      day of the event and send the originals of relevant notice (stamped by
      Non-natural person or signed by natural person) to the Creditor in 5
      business days after the day of the event in case of the following
      circumstances:

            

    

     

    
      	
               
      

            	
              4.1.2.1

            	
              the
      events that denies the authenticity and accuracy of the statements and
      commitments the Guarantor makes in this Agreement
  happen;

            

    

     

    
      	
               
      

            	
              4.1.2.2

            	
              the
      Guarantor or its controlling shareholder, actual controller or the related
      parties being involved in litigation or arbitration, or its asset being
      distrained upon, sealed-up, frozen or enforced or being imposed by other
      measures that have same effect, or its legal representative, director,
      supervisor and senior management staffs being involved in actions,
      arbitrations or other enforcement
measures.

            

    

     

    
      	
               
      

            	
              4.1.2.3

            	
              the
      change of the legal representative or its authorized representatives,
      responsible person, major financial responsible person, communication
      address, company name and work place of the Guarantor, or the change of
      the Guarantor’s domicile, habitual residence, work unit and name, or
      long-term departure of the residence place, or any adverse change in the
      Guarantor’s income level;

            

    

    
      
         

      

      
        Page
5

        
          

        

      

      
         

      

    

    
      

      
        
          
            	
                    SHANGHAI PUDONG DEVELOPMENT
      BANK

                  	
                    MAXIMUM
      GUARANTEE AGREEMENT

                  

          

        

      

       

    

    
      	
               
      

            	
              4.1.2.4

            	
              the
      reorganization and bankruptcy applied by other debtors or the revocation
      made by the governing authority.

            

    

     

    
      	
            	
              4.1.3

            	
              the
      Guarantor undertakes to submit relevant financial materials or income
      certification as required by the Creditor at any
  time;

            

    

     

    
      	
            	
              4.1.4

            	
              the
      Guarantor undertakes to assume the joint and several liabilities to
      complement the security deposit in case that the debtor fails to make up
      the deficiency of the security deposit (including early making-up) as
      required by the Creditor in issuing L/C, Letter of Guarantee or Standby
      L/C. The making-up of the deficiency of the security deposit shall not
      constitute the exemption of the guarantee liability the Guarantor shall
      undertake in accordance with the Agreement. Any losses (including interest
      losses) arising out of the performance of the obligation to complement the
      security deposit under the Agreement shall be borne by the Guarantor
      itself.

            

    

     

    
      	
            	
              4.1.5

            	
              the
      Guarantor hereby vows to suspend the exercise of recourse right or
      relevant rights arising from the performance of the Agreement before the
      debtor pays off all debts under the
AGREEMENT;

            

    

     

    
      	
            	
              4.1.6

            	
              The Guarantor
      shall continue to assume the joint and several liabilities for the early
      repayment or the sustained debts in case of the revocation of the
      individual repayment if the debtor repays the debt in whole or in part
      early or liquidates individually.

            

    

     

    
      	
              4.2

            	
              Deduction
      Provisions

            

    

     

    
      	
            	
              4.2.1

            	
              The
      authorized Creditor should directly deduct the same amount of money from
      any account the Guarantor opens in Shanghai Pudong Development
      Bank to clear off the overdue debt or deficient security deposit in
      case of the overdue debt or that the security deposit shall be made up by
      the Guarantor.

            

    

     

    
      	
            	
              4.2.2

            	
              Unless
      the authorities have particular regulations, the deducted money
      should clear off all debts in the following orders: first the money should
      be used to pay off the overdue expenses charged for the Guarantor and
      debtor; then the money should be used to pay off the interests of the
      overdue bills; the remaining money should be used to pay off the
      principals of the overdue bills; if there are several overdue claims, it
      is the Creditor’s right to decide the priority of the
    pay-off.

            

    

    
      
         

      

      
        Page
6

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  SHANGHAI PUDONG DEVELOPMENT
      BANK

                	
                  MAXIMUM
      GUARANTEE
AGREEMENT

                

        

      

    
 

    
      	
            	
              4.2.3

            	
              In
      case of any discrepancy between the currency of the accounts deducted and
      the currency of repayment, the Creditor will be responsible for
      conversion with an exchange rate determined by it and the Guarantor shall
      bear the exchange rate risk.

            

    

     

    
      	
              4.3

            	
              Certification
      of debt

            

    

     

    It has
been acknowledged by the parties that the accounting documents issued and
recorded in compliance with its business rules in its Book of Accounts will be
the effective evidence of the debt of the Creditor.

    

    
      	
              4.4

            	
              Notification
      & Service

            

    

     

    
      	
            	
              4.4.1

            	
              The
      notice from one party to the other party shall be sent to the
      address specified at the signature page of this Agreement, or other
      address changed by the other party against written notice. If the notice
      is delivered to the address mentioned hereinabove, the service shall be
      deemed completed in the following date: the seventh bank business day as
      from the date when the notice is sent by registered mail to the major
      business place (for the corporation and its branches and subsidiaries or
      other organization) or the domicile (for natural person) in case of mail
      service; the date signed by the recipient upon receipt in case of special
      service; the transmission date in case of facsimile or Email. However, the
      service of all notice, requirement or other communication sent to the
      Creditor shall be deemed completed upon the actual receipt of the
      Creditor. The notices sent to the Creditor in the form of facsimile or
      Email shall be confirmed by the originals (sealed by Non- natural person
      or signed by natural person) that could be delivered face-to-face and sent
      by mail to the Creditor afterwards.

            

    

     

    
      	
            	
              4.4.2

            	
              the
      Guarantor hereby agrees that the service of any court summons and notices
      during any litigation hereof shall be deemed completed upon their arrival
      at the domicile stated at the end of the Agreement. Any adjustment to the
      address hereinabove shall not be valid for the Creditor without
      prior written notification.

            

    

    

    
      	
              4.5

            	
              Validity,
      Amendment and Termination

            

    

     

    
      	
            	
              4.5.1

            	
              This Agreement
      shall be effective from the date of sealing by the Guarantor and the
      Creditor and the signing or sealing by their legal representative/
      responsible person or authorized representative (signature only for
      natural person Guarantor) to the date when the guaranteed debts under the
      Agreement are paid off.

            

    

     

    
      
         

      

      
        Page
7

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  SHANGHAI PUDONG DEVELOPMENT
      BANK

                	
                  MAXIMUM
      GUARANTEE AGREEMENT

                

        

      

    

    
      	
            	
              4.5.2

            	
              The Agreement
      is independent of principal AGREEMENT in the validity. In other
      words, the total or partial invalidity of AGREEMENT shall not affect the
      effectiveness of this Agreement and the obligation of the
      Guarantor;

            

    

     

    
      	
            	
              4.5.3

            	
              the
      Agreement shall not be changed unilaterally or terminated early by either
      party after the Agreement becomes effective; A written agreement
      shall be reached between the parties hereto after negotiation in case that
      the Agreement shall be amended and terminated
  early.

            

    

     

    
      Article
5     Breach
of Agreement & Settlement of Breaches

    

     

    
      	
              5.1

            	
              Breach
      of Agreement

            

    

     

    The
Guarantor shall be in breach of Agreement in one of the following
circumstances:

     

    
      	
            	
              5.1.1

            	
              Any
      statement, explanation, guarantee made by the Guarantor during the term of
      the Agreement or other relevant notice, authorization, approval, content,
      certificate or other documents made by the Guarantor in compliance
      with or related to the Guarantor are incorrect or misleading, or have been
      proven incorrect or misleading, or have been proven invalid, revoked or
      legally unbinding;

            

    

     

    
      	
            	
              5.1.2

            	
              Any
      infringement of one of the provisions of Article 4 of this
      Agreement;

            

    

     

    
      	
            	
              5.1.3

            	
              when
      the Guarantor’s business is suspended, terminated, shut-down,
      restructured, reorganized, taken-over or mandated, dissolved, revoked or
      cancelled or bankrupted;

            

    

     

    
      	
            	
              5.1.4

            	
              Death
      or declaration of death of the Guarantor in case the Guarantor is natural
      person;

            

    

     

    
      	
            	
              5.1.5

            	
              the
      change and transfer of the asset or attempted transfer of the asset by
      virtue of marital relations by the
Guarantor;

            

    

     

    
      	
            	
              5.1.6

            	
              Deteriorating
      financial situation, serious difficulties in production and business
      operations or some circumstances that may affect the Guarantor’s
      operational situation and financial condition or performance
      capability.

            

    

     

    
      	
            	
              5.1.7

            	
              the
      Guarantor or its controlling shareholder, actual controller or the related
      parties being involved in litigation or arbitration, or its asset being
      distrained upon, sealed-up, frozen or enforced or being imposed by other
      measures that have same effect, or its legal representative, director,
      supervisor and senior management staffs being involved in actions,
      arbitrations or other enforcement
measures.

            

    

    
      
         

      

      
        Page
8

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  SHANGHAI PUDONG DEVELOPMENT
      BANK

                	
                  MAXIMUM
      GUARANTEE
AGREEMENT

                

        

      

    
 

    
      	
            	
              5.1.8

            	
              Any
      infringement of this Agreement that could hinder the smooth performance of
      this Agreement or other behavior of the Guarantor that may lead to the
      damage of legitimate interest of the
Creditor.

            

    

     

    
      	
              5.2

            	
              Settlement
      of Breaches

            

    

     

    The
Creditor is entitled to announce the early maturity of the debt or the debts
under the AGREEMENT or ask the Guarantor to assume the guarantee liability or
make up the deficiency of security deposit and pay the liquidated damage (the
calculation of the liquidated damage is specified in Article 7) in case of any
one of the above-mentioned breaches of Agreement. The Guarantor shall reimburse
all losses suffered by the Creditor if the liquidated damage fails to make
up.

    

    
      Article
6     Other
Provisions

    

     

    
      	
              6.1

            	
              Applicable
      Law

            

    

     

    The
Agreement is governed and construed by laws of the People’s Republic of China
(excluding Hong Kong, Macau SAR and Taiwan Region).

    

    
      	
              6.2

            	
              Settlement
      of Disputes

            

    

     

    All
disputes and argues arising from the performance of this Agreement shall be
solved through negotiation by the parties; if negotiation fails, both parties
agree to adopt the jurisdiction of the People’s Court of the domicile of the
Creditor;

    During
the settlement of dispute, other provisions in the Agreement that may not be
affected shall be performed continuously.

     

    
      	
              6.3

            	
              Miscellaneous

            

    

     

    
      	
            	
              (1)

            	
              Any
      matters not provided herein shall be added in Article 7 or supplemented
      subject to an agreement entered into between the parties. The appendixes
      to the Agreement (please see Article 7 of this Agreement) shall form
      integral parts of the Agreement and shall have the same binding force as
      the Agreement itself.

            

    

     

    
      	
            	
              (2)

            	
              Words
      and expressions in this Agreement shall have the same meanings
      respectively assigned to them in the AGREEMENT hereafter referred to,
      unless otherwise provided.

            

    

    
      
         

      

      
        Page
9

        
          

        

      

      
         

      

    

    
      

      
        
          
            	
                    SHANGHAI PUDONG DEVELOPMENT
      BANK

                  	
                    MAXIMUM
      GUARANTEE AGREEMENT

                  

          

        

      

       

    

    
      Article
7     Special
Clauses

    

     

    
      	
              7.1

            	
              The AGREEMENT
      guaranteed by this Agreement (in correspondence with WHEREAS
      clauses)

            

    

     

    
      	
               
      

            	
              (1)

            	
              The
      AGREEMENT covers a series of Agreements signed between 26th June, 2009 and
      25th June, 2011.
      The Creditor of this Agreement is Zhengzhou Branch,
      Shanghai Pudong Development Bank stated in the
      AGREEMENT;

            

    

    
      	
               
      

            	
              (2)

            	
              The
      debtor under the AGREEMENT is Henan
      Shuncheng Group Coal Coke Co., Ltd. Domicile:
      Nangongye Rd.,
      Tongye Town, Anyang.

            

    

    

    
      	
              7.2

            	
              The
      Primary Creditor’s right (in correspondence with Article 1 of this
      Agreement)

            

    

     

    The
Primary Creditor’s right guaranteed by this Agreement: a kind of or kinds
of credit including but not limited to all varieties of loan and all possible
debts arising from intermediary business provided to the debtor continuously
between 26th June, 2009 and
25th June, 2011
(hereinabove referred to as “period of debts”. The total amount of the
above-mentioned debts during the period of debts shall not exceed RMB SIXTY-SEVEN MILLION CHINESE YUAN
ONLY (or other currencies with equivalent value). The amount of the
debts shall be converted according to the exchange rate determined by the
Creditor itself in case that the currency of the debt is foreign
currency.

    
      	
              7.3

            	
              Settlement
      of Breaches (in correspondence with Clause 2, Article
  5)

            

    

     

    Liquidated
damage: accounting for five percentage of
the total amount of the debts.

    
      	
              7.4

            	
              The
      appendixes of this Agreement includes: (in correspondence with Para.1,
      Clause 3, Article 6)

            

    

     

    (1)                                                                        

    (2)                                                                        

    (3)                                                                         

    (4)                                                                         

    (5)                                                                         

     

    
      	
              7.5

            	
              Other
      provisions (in correspondence with Para.1, Clause 3, Article
      6)

            

    

     

      
        

      

                

      
        

      

    

        

    
      	
              7.6

            	
              The
      Agreement shall be in originals,
      respectively held by the Guarantor, the Debtor, and                     ,
      and the originals have same legal
effect.

            

    

    
      
         

      

      
        Page
10

        
          

        

      

      
         

      

    

    
      

      
        
          
            	
                    SHANGHAI PUDONG DEVELOPMENT
      BANK

                  	
                    MAXIMUM
      GUARANTEE AGREEMENT

                  

          

        

      

       

    

    (No text
in the signature page)

    

    In
witness hereof the parties hereto have accurate and correct understanding of
legal definition of rights, obligations and limitation or exemption of liability
and have conducted detailed description and negotiation of all clauses, free of
any doubt, to execute this Agreement on 26th June,
2009.

    

    Guarantor
(Common Seal)

    Legal
Representative/Authorized Representative: /s/ Ji Hai Fu

    (Signature/Seal)

    

    Creditor
(Common Seal)

    Legal
Representative/Authorized Representative: /s/ Hu Xuan

    (Signature/Seal)

    

    (Applicable
to the corporation mentioned hereinabove)

    
      
         

      

      
        Page
11

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