Supplemental Contract to the Entrustment Loan Contract
[This Document has been Translated from Chinese to English]
Supplemental Contract to the Entrustment Loan Contract
Contract Number: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇ (2011) No. 001
Type of Loan: Unit Entrusted Loan
Debtor (Party A): Tsining Housing Development Co., Ltd.
Address: ▇▇. ▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇’an
Legal Representative (Person-in-Charge): ▇▇▇▇▇▇ ▇▇
Postcode: 710054
Principal Creditor (Party B): Tianjin Cube Xindao Equity Investment Fund Partnership Enterprise (LLP)
Address: ▇▇ ▇▇▇▇, ▇/▇, ▇▇▇▇▇▇▇▇ ▇▇.▇, ▇▇. 52 Xincheng Xi Rd, Tianjin Development District, Tianjin
Tel: ▇▇▇▇▇▇▇▇▇▇▇
Fax: ▇▇▇▇▇▇▇▇▇▇▇▇
Legal Representative (Person-in-Charge): Ruifeng DAI
Postcode: 300475
Agent (Party C): China Construction Bank Corporation Shaanxi Province Branch
Address: ▇▇. ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇, ▇▇’an
Tel: ▇▇▇-▇▇▇▇▇▇▇▇
Fax: ▇▇▇-▇▇▇▇▇▇▇▇
Person-in-Charge: Naimi MOU
Postcode: 710002
WHEREAS:
| (1) | Party B entrusted Party C to provide a loan to Party A. The three parties executed the Entrustment Loan Contract numbered ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇ (2011) No. 001 (the “Entrustment Loan”); |
| (2) | Pursuant to the contract aforesaid, Party B entrusted Party C to provide Party A with a loan of RMB Forty-Nine Million Three Hundred and Fifty Thousand Six Hundred and Forty-Nine Yuan and Thirty-Five Cents (￥49,350,649.35), the term of which was twelve (12) months from January 28th 2011 to January 27th 2012. Principal is entitled to grant Debtor an extension of no more than six (6) months at its own discretion. |
With respect to the performance of the Entrustment Loan, Parties reached the supplemental agreement as follows:
Article 1 Party A increases the collateral to include the following as the security for the Entrustment Loan:
| (1) | Two (2) suites of commercial property at “▇▇▇▇▇▇▇ ▇▇▇▇▇” with an aggregate total of 2,053.23 sq. meters at the address ▇▇. ▇▇-▇▇ ▇▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇’an, in Party A’s title; |
| (2) | Twenty-five (25) residential properties at “Junjingyuan Phase I” with an aggregate total of 1,579 sq. meters at the address ▇▇. ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇., ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇’an, in Shaanxi Xinxing Construction Project Co., Ltd’s title; |
| (3) | Seven (7) factory properties with an aggregate total of 16,351.79 sq. meters at the address No. 66 Huzhu Rd., Beilin District, Xi’an, in Xi’an Tianma Machinery Factory’s title. |
(See the Appendix hereto for the detailed list of the aforementioned collateral, collectively referred to below as the “Additional Collateral”)
The security on the mortgage and the pledge provided by Party A or another third party prior to the execution of this supplement shall continue to be valid as the security of the Entrustment Loan.
Article 2 The Entrustment Loan will expire on January 27th 2012 and Party A applies to extend the term for another six (6) months:
| (1) | Party B agrees to extend the Entrustment Loan for another six (6) months so that the date of expiration is extended to July 27th 2012; |
| (2) | During the extended term period of the Entrustment Loan, the monthly interest rate shall be identical to that in the original Entrustment Loan. |
As a condition of Party B extending the term for six (6) months, Debtor shall complete the mortgage registration formalities for the Additional Collateral before January 26th 2012, so that Party C (as Agent of Party B) shall become the mortgagee of first priority to the Additional Collateral; otherwise, Party B shall be entitled to withdraw its agreement to the extension of the Entrustment Loan and shall be entitled to announce the immediate expiration of the Entrustment Loan.
Article 3 This agreement supplements the Entrustment Loan, and shall have the same binding effect as the Entrustment Loan. Each Party agrees and acknowledges that the relationship of the creditor and debtor formed in this agreement is clear and that the creditor and debtor have no doubt with respect to the content of the payment. In the event the debtor under the contract does not perform its obligation or does not perform its obligation in full, the debtor is voluntarily subject to specific performance enforced by the People’s Court. The Equity Pledge Contract, Mortgage Contract as well as any other related contracts in relation to this Supplemental Contract shall all be enforceable with specific performance.
Article 4 This agreement has six (6) counterparts. Each counterpart becomes effective after the Legal Representatives (Persons-in-Charge) of Party A and Party B respectively, or their authorized agents sign and affix the company seals thereon (only signature is needed if Party A and Party B are natural persons) and the Person-in-Charge of Party C (or its authorized agent) sign and affix the company seal.
(Remainder of page intentionally left blank)
Party A (Company Seal): Tsining Housing Development Co., Ltd.
Legal Representative (Person-in-Charge) or Authorized Agent:
/s/ Authorized Individual
(Signature)
January 26, 2012
(Date)
Party B (Company Seal): Tianjin Cube Xindao Equity Investment Fund Partnership Enterprise (LLP)
Legal Representative (Person-in-Charge) or Authorized Agent:
/s/ Authorized Individual
(Signature)
January 26, 2012
(Date)
Party C (Company Seal): China Construction Bank Corporation Shaanxi Province Branch
Person-in-Charge or Authorized Agent:
/s/ Authorized Individual
(Signature)
January 26, 2012
(Date)
Appendix: List of the Additional Collateral
| No. | Project | Address | Room No. | Floor | Area | Nature of Property | No. of Property Ownership Certificate | Person of Ownership |
| 1 | ▇▇▇▇▇▇▇ ▇▇▇▇▇ | No. ▇▇ ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇-▇▇▇▇▇ | 2 | 1,277.03 | Commercial | 112510808Ⅳ-52-9-30201 | Tsining Housing Development Co., Ltd. |
| 2 | ▇▇▇▇▇▇▇ ▇▇▇▇▇ | No. ▇▇ ▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇-▇▇▇▇▇ | 7 | 776.20 | Commercial | 112510808Ⅳ-52-9-30711 | Tsining Housing Development Co., Ltd. |
| Sub-total | 2,053.23 | |||||||
| 3 | Xinqingfang | ▇▇. ▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇ | ▇ | 1,915.32 | Industrial Factory | N/A | Tianma Machinery ▇▇▇▇▇▇▇ |
| ▇ | ▇▇▇▇▇▇▇▇▇▇▇ | ▇▇. ▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇ | 4 | 3,488.32 | Industrial Factory | N/A | Tianma Machinery Factory |
| 5 | Xinqingfang | ▇▇. ▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇▇ | ▇ | 1,472.04 | Industrial Factory | N/A | Tianma Machinery ▇▇▇▇▇▇▇ |
| ▇ | ▇▇▇▇▇▇▇▇▇▇▇ | ▇▇. ▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇ | 2 | 2,406.48 | Industrial Factory | N/A | Tianma Machinery ▇▇▇▇▇▇▇ |
| ▇ | ▇▇▇▇▇▇▇▇▇▇▇ | ▇▇. ▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇ | 2 | 6,073.45 | Industrial Factory | N/A | Tianma Machinery ▇▇▇▇▇▇▇ |
| ▇ | ▇▇▇▇▇▇▇▇▇▇▇ | ▇▇. ▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇ | 2 | 996.18 | Industrial Factory | N/A | Tianma Machinery Factory |
| Sub-total | 16,351.79 | |||||||
| 9 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 123.18 | Residential | 1150110019-4-12-11108~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 10 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 56.79 | Residential | 1150110019-4-12-11109~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 11 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 56.10 | Residential | 1150110019-4-12-11111~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 12 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 56.43 | Residential | 1150110019-4-12-11112~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 13 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 56.43 | Residential | 1150110019-4-12-11113~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 14 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 55.23 | Residential | 1150110019-4-12-11115~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 15 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 54.85 | Residential | 1150110019-4-12-11120~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 16 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 55.15 | Residential | 1150110019-4-12-11118~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 17 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 123.18 | Residential | 1150110019-4-12-11208~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 18 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 56.79 | Residential | 1150110019-4-12-11209~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 19 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 56.79 | Residential | 1150110019-4-12-11210~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 20 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 56.43 | Residential | 1150110019-4-12-11212~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 21 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 55.15 | Residential | 1150110019-4-12-11219~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 22 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 56.10 | Residential | 1150110019-4-12-11211~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 23 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 56.43 | Residential | 1150110019-4-12-11213~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 24 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 54.46 | Residential | 1150110019-4-12-11214~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 25 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 55.23 | Residential | 1150110019-4-12-11215~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 26 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 53.79 | Residential | 1150110019-4-12-11216~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 27 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 55.15 | Residential | 1150110019-4-12-11217~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 28 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 55.15 | Residential | 1150110019-4-12-11218~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 29 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 12 | 54.85 | Residential | 1150110019-4-12-11220~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 30 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 56.79 | Residential | 1150110019-4-12-11110~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 31 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 54.46 | Residential | 1150110019-4-12-11114~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 32 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 53.79 | Residential | 1150110019-4-12-11116~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 33 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 55.15 | Residential | 1150110019-4-12-11117~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| 34 | Junjingyuan | No. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ | ▇▇-▇▇▇▇▇ | 11 | 55.15 | Residential | 1150110019-4-12-11119~1 | Shaanxi Xinxing Construction Project Co., Ltd |
| Sub-total | 1,579.00 | |||||||
| Total | 19,984.02 | |||||||