Shenzen Lease Agreement (English Language Summary)

Name of Lease:

Shui Hing Manufacturing Factory Lease Agreement

Parties to Lease:

▇▇▇▇▇▇ ▇▇▇▇ Hing Limited
and
Bogang Economic Development Company

Date of Lease:

January 1, 2003

Termination Date of Lease:

December 31, 2005

Location/ Property Leased:

Songshan Industrial Zone, Bogang Village.
Shajing Town, Baoan District
Shenzhen City
Guangdong Province
PRC

Size of Space:

Factory Area: 

4,742.3 ▇▇

▇▇▇▇▇▇▇▇▇ Area:

1,952.3 m2

Payments:

$ 7,832 per month

Right to Terminate:

Termination upon 3 months notice to landlord and payment of charges until end of rental period.

Option to Extend:

Upon the agreement of the parties the lease may be extended upon terms similar to those contained herein. ▇▇▇▇▇▇ ▇▇▇▇ Hing Limited shall have a first right to enter into negotiations with the landlord for the leased space.

Transfer or Assignment:

Not addressed in the lease.

Uses allowed:

Operation of a machining factory and assembly of mechanical and plastic parts.