Document:

f8k0210ex10viii_artisty.htm

    Exhibit
10.8

    LEASE
AGREEMENT

     

    Translation

     

    

     

    Party A:
Chongqing Foguang Tourism Development (Group) Co., Ltd.

     

    Party B:
Chongqing Guobang Industrial Co., Ltd.

     

    

     

                Through
friendly consultation, the parties enter into the following agreement pursuant
to the Contract Law of the People’s Republic of China, the Law on Administration
of Urban Real Estate of the People’s Republic of China and other relevant laws
and regulations:

     

    
      	
              I.  

            	
              Party
      A agrees to lease to Party B the property located at the 4th
      Floor of the Huigong Shopping Mall with a total area of 1,938.17 square
      meters.

            

    

     

    
      	
              II.  

            	
              The
      property is located at 1 Huigong Road, Huigong Tower 4th
      Floor, Nan’an District, Chongqing, as certified in the following
      certificates:

            

    

     

    
      	
              ·  

            	
              Property
      Ownership Certificate # (2006)09328, 630.36 square
  meters

            

    

     

    
      	
              ·  

            	
              Property
      Ownership Certificate # (2006)09330, 630.36 square
  meters

            

    

     

    
      	
              ·  

            	
              Property
      Ownership Certificate # (2006)09329, 630.36 square
  meters

            

    

     

    
      	
              III.  

            	
              Lease
      Term and Payment

            

    

     

    
      	
              1.  

            	
              The
      monthly rent is RMB 192,000.

            

    

     

    
      	
              2.  

            	
              Party
      B shall pay the monthly rent five days in advance of the next month. Party
      B shall not have the obligation to pay rent until it subleases the
      property and receives rent.

            

    

     

    
      	
              IV.  

            	
              Purpose
      and Transfer of Lease: Party A understands and agrees that Party B will
      sublease the property to a third party. Party A shall not interfere with
      Party B’s use of the property.

            

    

     

    
      	
              V.  

            	
              During
      the term of the Agreement, if Party B and the sub-tenant of the sublease
      terminate the lease agreement, Party B shall have the right to decide if
      this Agreement will be continued or terminated. In this circumstance, if
      Party B decides to terminate the Agreement, Party B shall notify Party A
      in writing. Party A shall make sure the validity of its mailing address
      and notify Party B of any change of mailing address in writing, otherwise,
      when Party B sends the notice to Party A’s designated mailing address, the
      return date of the mail shall be deemed as the notice
  date.

            

    

     

    
      	
              VI.  

            	
              House
      Renovation: Party A agrees that Party B and its sub-tenants may remove the
      decoration of the leased property. Upon the termination of this Agreement,
      Party A may not restore the decoration of the property (including the
      partition wall), nor compensate Party A for any decoration or renovation.
      However, Party B shall not change the decoration status of the property at
      the termination of this Agreement.

            

    

     

    
      	
              VII.  

            	
              Party
      A shall have the right to either continue or terminate the Agreement if
      Party B fails to sublease the property by December 31,
    2005.

            

    

     

    
      	
              VIII.  

            	
              Property
      Management Fees: Party B shall pay the property management fees and
      charges for water and power.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
              IX.  

            	
              Deliver
      of Property: Party A shall deliver the property to Party B by December 20,
      2005.

            

    

     

    
      	
              X.  

            	
              Breach
      of Agreement: any party who breaches the Agreement shall pay the penalty
      to the non-breaching party that equals the amount of one year’s rent and
      shall compensate for any economic loss incurred by the non-breaching party
      (including the amount of all damages that Party B pays to the
      sub-tenants). Party B shall pay a late fee of 2/10,000 of the overdue rent
      per day if Party B fails to pay the rent
timely.

            

    

     

    
      	
              XI.  

            	
              Supplement
      Provisions: any unsettled matters under this Agreement may be supplemented
      by the parties with a supplement agreement, which shall have the same
      effect of this Agreement.

            

    

     

    
      	
              XII.  

            	
              This
      Agreement shall become effective upon execution of both parties and the
      entry of agreement between Party B and third
  parties.

            

    

     

    
      	
              XIII.  

            	
              This
      Agreement is executed into four duplicates with equivalent effect. Each
      party shall hold one duplicate.

            

    

     

    

     

    Party A:
Chongqing Foguang Tourism Development (Group) Co., Ltd. (Signature &
Stamp)

     

    Mailing
Address: Fuli Bowling House, ChangShou District, Chongqing

     

    

     

    Party B:
Chongqing Guobang Industrial Co., Ltd. (Signature & Stamp)

     

    Mailing
Address: 1 Huigong Road., Huigong Tower, 7th
Floor, Nan’an District, Chongqing

     

    

     

    December
10, 2005f8k0210ix_artisty.htm

    Exhibit
10.9

    AGREEMENT

     

    Translation

     

     

    Party A:
Chongqing Foguang Tourism Development Co., Ltd. (“Party A”)

     

    Party B:
Chongqing ChangShou District Rural Credit Association (“Party B”)

     

                 ChangShou
County Fuli Bowling Co., Ltd. (“Fuli”), borrowed RMB 4.1 million from the
ChangShou County Rural Cooperative Foundation. In 1999, based on relevant
provisions issued by the State Council, the ChangShou County Rural Cooperative
Foundation transferred its rights and liabilities under the said debt to Party
B. On September 10, 2001, Fuli has applied and engaged with Party B to conduct a
“repayment of old debt by new loan.” Due to failure of management, Fuli has
closed and owed an accrued interest of RMB 1,165,537.64 to Party B as of
September 21, 2002. On April 11, 2003, through consultation between Fuli and
Party B, Fuli agreed to transfer its rights on the collateral of the said debt,
the park of ChangShou Land Administration and Bowling House with its bowling
equipment and eight fairways, to Party B to offset the principal and interest of
the debt.

     

                    Through
consultation between Party A and Party B, Party A agrees to lease the Bowling
House that Fuli transferred to Party B, which is located at San Dong Qiao, Feng
Cheng Town, ChangShou District, and the parties enter into the following
agreement:

     

    
      	
              1.  

            	
              Party
      A understands the nature of ownership of the property (that is, the park
      is a state-owned property currently used by the ChangShou Land
      Administration; the Bowling House and its facilities are debt collaterals
      and therefore there will be no property ownership certificate for the
      Bowling House.) and agrees to undertake RMB 2.6 million out of Fuli’s debt
      as the rent of the property.

            

    

     

    
      	
              2.  

            	
              Payment:
      upon the execution of this Agreement, Party A shall make a one-time
      payment of RMB 2.6 million to Party B. On the same day of receiving the
      payment, Party B shall grant Party A’s use of the Bowling House and
      bowling facilities and deliver to Party A a copy of the Pledge
      Agreement.

            

    

     

    
      	
              3.  

            	
              Upon
      the execution of this Agreement, Party A shall engage with relevant
      authorities to complete the procedures of transferring the property
      ownership and bear all costs and taxes generated. Party B shall only be
      responsible to provide the relevant information and materials in its
      current possession.

            

    

     

    
      	
              4.  

            	
              Upon
      the execution of this Agreement, Party A shall be responsible for all
      economic disputes or liabilities related to the
  properties.

            

    

     

    
      	
              5.  

            	
              Any
      unsettled matter shall be subject to further consultation between the
      parties and both parties shall execute a supplement
    agreement.

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
              6.  

            	
              The
      parties shall comply with this Agreement. Any party who breaches the
      Agreement shall pay a penalty of 10% of the total rent of RMB 2.6 million
      to the non-breaching party.

            

    

     

    
      	
              7.  

            	
              This
      Agreement is executed into four duplicates with equivalent effect. Each
      party shall hold one duplicate. This Agreement shall become effective when
      Party B receives the payment of RMB 2.6
million.

            

    

     

    

     

    Party A:
Chongqing Foguang Tourism Development Co., Ltd. (Stamp)

     

    Party B:
Chongqing ChangShou District Rural Credit Association (Stamp)

     

    

     

    February
3, 2005

     

    

    
      
        
        

      

      
        2

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