Maximum Amount Mortgage Contract between Guancheng and Quanzhou Branch of Bank of Communication on April 9, 2009 (No.: 3550052009B900001300)
Exhibit
10.36
Maximum
Amount Mortgage Contract between Guancheng and Quanzhou Branch of Bank of
Communication on April 9, 2009 (No.: 3550052009B900001300)
Note:
This contract is accessory to the General Credit Contract between Guanke and
Quanzhou Branch of Bank of Communication (No.:
3550052009C000001300).
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Date:
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April
9, 2009
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Mortgagee:
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Quanzhou
Branch of Bank of Communication, located at ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇,
▇▇▇▇▇▇▇▇
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Mortgagor:
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Guancheng,
located at Houlin industrial park, Luoshan residential district,
Jinjiang
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Security
interest:
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Land
use right [with the size of 68002 square meters, the title certificate
Number is JinGuoYong (2009)No.00341]
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Maximum
secured amount of credit:
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An
aggregate amount of RMB35 million of principal, interest, compound
interest, defaulting interest, penalty, liquidation damages and the
expense to exercise the credit right and mortgage.
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Realization
of mortgage:
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If
the mortgagor fails to repay all or part of the principal of loan or
financed fund, advanced payment by mortgagee or corresponding interest, or
the mortgagor failed to provide other security according to the provisions
of the contract, the Mortgagee may foreclose the
property.
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Guarantee:
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If
the mortgage is void for the reasons caused by the mortgagor, the
mortgagor shall provide a guarantee for the maximum amount of
credit.
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Governing
law
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Laws
of the People’s Republic of
China
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