EXHIBIT 10.7
Kingdom of Cambodia
Nation Religion King
323
LEASE AGREEMENT
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ARTICLE 1: This lease agreement is made on..............................2002
BETWEEN:
Mr. LIV KIMHENG, Currently resides house No 15BEi E(1) National road No 1,
Sangkat Chbar Ampov 2, Khan Meanchey, Phnom Penh, Holding ID card No 214319 P.P
is the owner of the leased villa (house), herein called the party "A";
And ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇, resides at house ▇▇ ▇▇, ▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, Phnom Penh, representative of Golden Win Win (Cambodia) Inc.,
is the tenant, herein called the party "B".
ARTICLE 2: - This lease agreement is made to lease the villa (house) at ▇▇ ▇▇,
▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, Phnom Penh, including
material, facilities and furniture as mentioned in the article 6 of
this lease.
- This lease is valid for 10 months (ten) from 01 October 2002
through 3 1 July 2003, At invalidity of the lease, the tenant is
allowed to sublet with a new mutual discussion between the party "A"
and the party "B" about each articles of the agreement.
ARTICLE 3: - The Rent fee is USD 1,300 (USD one thousand and three hundred
only) and the party "B" shall make payment to the party "A" at the
beginning of the months on the first of each month during the term of
this lease agreement.
- The party "B" shall pay deposit equals to two months rent of
USD 2,600 (USD two thousand and six hundred only) to the party "A" at
signing the agreement in the presence of two witnesses. Such deposit,
the party "A" shall return to the party "B" after completed the lease
and the material, facility and furniture as mentioned in the article 6
of the lease in good condition and there will be any damage. In ease
of damage or loss, the party "A" will have the right to confiscate the
deposit to purchase material, facilities and furniture.
- The residence in the above leased premise, the party "B" shall
be responsible for filling administrative formats and the disturbance
to neighbors, as well as all the activities against the laws of the
Kingdom of Cambodia.
ARTICLE 4: - The party "A" shall assure to connect electricity, water supply
and cable TV network to the party "B". But the party "B" shall be
responsible for at his/her own expense, the consumption in accordance
with the real ▇▇▇▇, as well as waste collection charge excluding
monthly rent fee as mentioned in the article 3 above.
- The party "A" is responsible for paying the rent fee tax levied
by the state.
- The party "B" shall pay for the consumption of utilities such
as water, electricity, Cable TV, telephone and waste charges before
ending the lease agreement.
ARTICLE 5: - During the term of this lease, the party "B" will have no right
to sublet to the others with no consent of the party "A".
- The party "A" shall make any repair the water, electricity
network iii case of any hesitance or barrier relative to the
technique.
- The party "A" will have the right to sell the villa (house) to
the others in a condition in which the buyer has agreed with the lease
agreement between the party "A" and the party "B" and this agreement
will come into practice through the date of expiry.
- The party "B" shall ask for an authorization of the party "A"
in advance if he/she want to rehabilitate or decorate affected the
good looks of villa (house).
ARTICLE 6: The inventory list of the party "A" lodged to the party "B" includes:
1- Front - Rear and external the premise in the fence:
- Swing pump
- New generator, model KUBOTA 31 50-SOB
2- Ground floor = (From front or rear)
GUESTROOM:
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- Dragon long wooden sofa table made from sculpture 01 set
- Dragon short wooden sofa table made from sculpture 02 sets
- Dragon long wooden sofa chair made from sculpture 01 set
- Dragon short wooden sofa chair made from sculpture 04 sets
- New wall air-conditioner, Model Mitsubishi 2,5 01 set
- Angkor Portrait with glass golden frame 01 set
- Clock with painting-glass 01 set
- Map picture 01 set
- Large standing wooden sculpture eagle 01 set
- Sculpture wooden table and elephant ivory sculpture-and
Apsara statue above 01 set
From front to rear (internal the house)
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Room 1
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- New air-conditioner, model Mitsubishi 2,5 01 set
- Heater and Cooler, model ARISTON (Bathroom Water) 01 set
Room 2
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- New air-conditioner, model Mitsubishi 2,5 01 set
- Heater and Cooler, model ARISTON (Bathroom Water) 01 set
Out access
- Round wooden chair 01 set
- Peacock portrait in glass 01 set
- Distinguisher 01 set
At rear from left to right
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Front of room 1
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- Sculpture wooden table 01 set
- Wooden chair 07 sets
- Aluminum sink 01 set
Room 1 (Kitchen)
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- Wall wooden cupboard 01 set
- Wall fan 01 set
Room 2
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- Cooler and Heater, model ARISTON (Bathroom) 01 set
Room 3
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- Internal wall air-conditioner, Mitsubishi 2,5 01 set
- Wardrobes made from formica plywood 01 set
- Wooden bed and mattress 01 set
Room 4
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- Internal wall air-conditioner, Mitsubishi 2,5 01 set
- Wooden and glass wardrobes 01 set
- Wooden bed and mattress 01 set
- TV, Model IchiBan 14 inches 01 set
- TV, table 01 set
- Cooler and Heater, ARISTON (Bathroom) 01 set
Room (Garage)
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- Aluminum steps 01 set
3- First floor (at rear from right to left)
Front of Room 1
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- Thai Style wooden wardrobes, middle glass, one chair 01 set
- New wall air conditioner, Mitsubishi 2,5 01 set
- Wall clock 01 set
- Formica bed and mattress 01 set
- Wooden case 01 set
- Cooler & heater, ARISTON (Bathroom) 01 set
Room 2
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- New wall air-conditioner, Mitsubishi 2,5 01 set
- Rattin wardrobes 01 set
- Sculpture wooden bed and mattress 01 set
- Formica table 01 set
- Wooden chair and mattress 01 set
Room 3
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- Cooler & heater, ARISTON (Bathroom) 01 set
- Refrigerator SANYO 01 set
- Aluminum sink 01 set
- Square sculpture wooden table 01 set
- Wooden chair 05 sets
- Aluminum - glass cupboard 01 set
- Wall fan 01 set
- White board 01 set
Room 4
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- New wall air-conditioner, Mitsubishi 2,5q 01 set
- Thai style wooden wardrobes with vent 01 set
- Wooden bed and mattress 01 set
- Formica cosmetic table 01 set
Wall path, front of the four rooms
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- Painting 04 sets
- Sculpture wooden round table 01 set
- Wooden chair and mattress 10 sets
- Heart clock, Model Telesonic 01 set
Internal from rear to front sides:
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Front room against steps to ground floor
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- Motorbike portrait 01 set
- Glass wooden frame dragon portrait 01 set
- Glass, golden wooden frame Angkorwat temple portrait 01 set
- Distinguisher 01 set
Room 1 (against steps)
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- Internal wall air-conditioner, Mitsubishi 2,5 01 set
- Wardrobes made from formica 01 set
- Bet made from formica & mattress 01 set
- Cooler & heater, ARISTON (Bathroom) 01 set
Guestroom
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- New wall air-conditioner, Mitsubishi 2,5 01 set
- Wooden and glass show cabinet 01 set
- TV wooden cabinet 01 set
- TV Panasonic 29 inches 01 set
- Angkor Wat temple portrait 01 set
- Watch with Chinese painting 01 set
- Blue flower rug 01 set
- Sculpture wooden sofa (01 table, 01 long chair and two
short chairs) 01 set
- Flower holder 01 set
Room 2 near to Guestroom
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- New wall air-conditioner, Mitsubishi 2,5 01 set
- Wardrobes made from formica 01 set
- Sculpture wooden bed and mattress 01 set
- Sculpture wooden bed and mattress 02 sets
- Cooler & Heater, ARISTON (Bathroom) 01 set
Roof
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- Sitting stone chair 04 sets
- Stainless steel water tank 02 sets
ARTICLE 6: This lease agreement is made in Khmer language into 03 copies for
practice and translated in English and comes into practice from the
date of signing or fingerprinting the agreement by the party "A"
and the party "B", and it will be automatically ended on ..........
This lease agreement will be retained at:
- The party "A".....................................01 Copy
- The party "B".....................................01 Copy
- Local authority...................................01 Copy
Made in Phnom Penh on ..............................2002
For the tenant (The party "B") For the landlord (The party "A")
Signature or thumbprint Signature or thumbprint
/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ /s/ Liv-▇▇▇ ▇▇▇▇
Name ▇▇▇▇ ▇▇▇▇▇▇▇ Name LIV-▇▇▇ ▇▇▇▇
2nd Witness 1st Witness
Name ..................... Name .......................
Statement of local authority
