This agreement made between Neurotech Development Corporation, with offices at
00 Xxxxx Xxxxx Xx., Xxxx Xxxx, Xxx Xxxx and Shanghai Guangsha (Group) Co. Ltd.,
with offices at Xx 000 Xxxxxxxxx Xx., Xxxxxxxxxxx, Xxxxxxxx Xxxx, Xxxxxxxx for
the construction of Ren De Convalescent Hospital.
This construction shall be done in phases. Each phase shall be paid in
accordance with the work to be performed in that phase.
The first phase shall be for the civil engineering and site work. A deposit of
RMB 9,000,000 shall be paid against a projected total of RMB40,500,000.
At the completion of each phase a Neurotech compliance officer shall review the
completed work. A certificate of completion will be issued by Neurotech. If
local permit or approval is needed by government that permit shall be an
integrated part of the approval.
This agreement may be terminated if the work completed is not in accordance and
in compliance with local laws, and in accordance with the drawings approved by
Shanghai Xxxxxx Biological Technology Co. Ltd. and Neurotech.
Agreed: Shanghai Guangsha (Group) Co. Ltd. Date: [Stamp in Chinese]
[Seal in Chinese]
Agreed: Neurotech Development Corporation Date: January 21, 2002
/s/ Xxxxx Xxxx
Xxxxx Xxxx, Vice President