Common use of Deposit and Other Fees Clause in Contracts

Deposit and Other Fees. 7.1 Both parties agree that Party B shall pay Party A the Deposit in an amount of RMB1,088,197.50 equal to 3 times of monthly rental within 10 days upon the effective date of this Contract (the “Deposit”). On receipt of the Deposit, Party A shall issue a receipt to Party B. If Party B fails to pay all the Deposit according to this contract exceeding 5 days, Party A has right to terminate the contract, and if Party A terminates the contract, Party B shall pay the liquidated damage equal to double amount of monthly rental. During the lease term, the Deposit shall not offset the rental. Upon the expiration of the tenancy, Party A shall return the Deposit without any interest to Party B within 10 days after Party B pays off all the related fees and hand over the Premise. In the event that Party B fails to pay related fees and brings losses to Party A at Party B’s fault, Party A is entitled to deduct from the Deposit and return the remains to Party B without any interest. 7.2 During the tenancy, Party B shall bear the fees of water, electricity, gas, telecommunication, equipment and etc. 7.3 Party B shall directly apply to the related departments for installation of electricity, telecommunication and etc. at its own expenses. 7.4 Party B shall enter into a Property Management Contract with the property management company under which Party B shall bear the property management fee. The property management fee of the Premise is currently rated at RMB7.50 per month per square meter. Party B shall pay the property management fee of the Premise upon the date of handover the Premise.

Deposit and Other Fees. 7.1 Both parties agree that Party B shall pay Party A the Deposit in an amount of RMB1,088,197.50 RMB270,114.51 equal to 3 times of monthly rental within 10 days upon the effective date of this Contract (the Contract(the “Deposit”). Party B has paid the Deposit in an amount of RM236,520, so it shall pay the Deposit in an amount of RM33,594.51 within 10 days upon the effective date of this Contract. On receipt of the Deposit, Party A shall issue a receipt to Party B. If Party B fails to pay all the Deposit according to this contract exceeding 5 days, Party A has right to terminate the contract, and if Party A terminates the contract, Party B shall pay the liquidated damage equal to double amount of monthly rental. During the lease term, the Deposit shall not offset the rental. Upon the expiration of the tenancy, Party A shall return the Deposit without any interest to Party B within 10 days after Party B pays off all the related fees and hand over the Premise. In the event that Party B fails to pay related fees and brings losses to Party A at Party B’s fault, Party A is entitled to deduct from the Deposit and return the remains to Party B without any interest. 7.2 During the tenancy, Party B shall bear the fees of water, electricity, gas, telecommunication, equipment and etc. 7.3 Party B shall directly apply to the related departments for installation of electricity, telecommunication and etc. at its own expenses. 7.4 Party B shall enter into a Property Management Contract with the property management company under which Party B shall bear the property management fee. The property management fee of the Premise is currently rated at RMB7.50 RMB8.00 per month per square meter. Party B shall pay the property management fee of the Premise upon the date of handover the Premise.