Summary English Translation) Tourism Development Contract
Exhibit
10.16
(Summary
English Translation)
Tourism
Development Contract
Contract
#: LJY-02
Party A:
Chongqing Xx Xxx Tourism Development Co., Ltd. (hereinafter referred to as “Xx
Xxx”)
Registration
Address: 20 Wangzhou Road, Peiling
Legal
Representative: Zesong Liu
Position:
Chairman
Citizenship:
PRC
Phone:
000-00000000
Party B:
Chongqing Foguang Tourism Development (Group) Co., Ltd. (hereinafter referred to
as “Foguang”)
Registration
Address: Xxxx Xxxxxxx, Changshou District
Legal
Representative: Yihou Ran
Position:
Chairman
Citizenship:
PRC
Phone:
000-00000000
In order
to meet the tourists’ need, both parties decide to develop “Peiling Two River
Tourism Project” (hereinafter referred to as “Tourism Project”). Bogao offer the
development rights of “Tourism Project” to Foguang group through negotiation. In
accordance with “Bidding the development rights for Peiling Two Rivers Tourism
Development” and “Transfer of the development of Peiling Two River Tourism
Project”, Bogao and Foguang reached this contract through friendly consultations
to conclude the following terms.
Chapter
One: The Introduction of Peiling Two Rivers Tourism Project
Xx Xxx
agrees develop the “Tourism Project” together in accordance with “Bidding the
development rights for Peiling Two Rivers Tourism Development” and “Transfer of
the development of Peiling Two River Tourism Project”.
The
“Tourism Project” is located at Changjiang and Wujiang in Peiling, which is
suitable for the development of boat tourism business. The project can be done
in 2015. The constructions of the project include: investment of 10-20 antique
(western style) entertainment ships, which can accommodate 5-20 people in each
ship; investment of 4 star reception center in the suitable location which is
close to Changjiang and Wujiang River; investment of one antique ship which can
accommodate at least 200 people; investment of 9 mobile fisherman wharfs. The
total investment of the project is 350 Million RMB.
We plan
to invest 50 million RMB for building 10 to 20 antique (western style)
entertainment ships, which can accommodate 5-20 people, 4 star reception center
in the suitable location which is close to Changjiang and Wujiang River and 6
tourist wharfs from 2009 to 2012. Other parts of the project will be completed
before 2015. The process of the project must meet the requirements of the “Plan
of the Peiling Two Rivers Tourism Project” and approval documents.
We will
work on design, construction and decoration of ships and construction of
fisherman wharfs in different phase in accordance with the “Plan of the Peiling
Two Rivers Tourism Project”.
Foguang
shall be responsible for the design, construction, decoration of ship and
fisherman wharfs. And Xx Xxx shall actively cooperate with Foguang for
inspection. Both parties shall ensure that such equipments can be used prior to
December 2010.
The
requirements of construction time for the project:
Years
2009-2010: Initiation of the project. Perfection of 10 antique (western style)
entertainment boats, which can accommodate 5-20 people, and three fisherman
wharfs.
Years
2010-2011: Completion of 4 star reception center in the suitable location, which
is close to Changjiang and Wujiang River;
Year
2012: Perfection of 10 antique (western style) entertainment ships, which can
accommodate 5-20 people, and three fisherman wharfs.
Year
2013-2015: Perfection of one antique ship, which can accommodate at least 200
people, and three fisherman wharfs.
Chapter
Two: Cooperation
Article
One: Transfer of project
Xx Xxx
will pay for 530,000 RMB, which includes 330,000 RMB financing fees and 200,000
project transfer fees at the beginning of the project. Foguang will pay 530,000
RMB to Xx Xxx after completion of the project.
Article
Two: Project Financing
Xx Xxx is
responsible for 20 million RMB loan from the local government in accordance with
the “Bidding the development rights for Peiling Two Rivers Tourism Development”.
The government will subsidize 1.1 million interests to this 20 million loan
every year.
Article
Four: Construction and Operation Management
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1.
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After
establishment of the company, Foguang shall start the construction
activities immediately. Xx Xxx shall cooperate with
Foguang.
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2.
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Foguang
is responsible for daily management. Bogao shall actively cooperate with
Foguang for expanding the business environment and promotion of products,
price, distribution channels and public
relations.
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Chapter
Three: Other Conventions
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1.
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Both
parties shall complete the approval documents and technical documents of
the project.
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2.
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Opening
a bank account within seven days after signing the contract. Foguang must
deposit 25 Million RMB (5 million XXX xxxxxxx xxxxx, 00 xxxxxxx XXX
advance for building ships and 5 million RMB for building fisherman
wharfs) into this new account within 15 days after signing the
contract.
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3.
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Xx
Xxx and Foguang shall work together for the development and operation
rights of tourism products.
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Chapter
Four: Foguang’s and Xx Xxx’x obligations and rights
Article
One: Xx Xxx’x obligations and rights:
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1.
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Xx
Xxx shall transfer “Plan of the Peiling Two Rivers Tourism Project” and
approval of the documents to Foguang. Foguang is the owner of the
project.
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2.
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Xx
Xxx is responsible for getting the 20 million RMB loan and 1.1 million
interest subsidize from government in accordance with the “Bidding the
development rights for Peiling Two Rivers Tourism Development” and
“Transfer of the development of Peiling Two River Tourism
Project”;
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3.
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Xx
Xxx shall cooperate with Foguang for obtaining approval from several
government sectors.
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Article
Two: Foguang’s obligations and rights:
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1.
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Foguang
obtains the development right of the project in accordance with the
law;
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2.
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Foguang
shall actively work on operation approvals from the
government;
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3.
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Foguang
is responsible for operating and managing the
project.
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Chapter
Five: Breach of Contract
The party
who breaches the contract shall pay 1 million RMB to the other
party.
Chapter
Six: Supplementary Provisions
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1.
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There
are eight copies of supplemental contract. Each party holds two copies.
Other four copies will sent to Business Bureau, Maritime Administration
Bureau and Outgoing Flights Authority
Bureau;
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2.
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This
contract will take effect upon
execution;
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3.
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Supplemental
contracts shall have the same effectiveness as this
agreement.
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Party A:
Chongqing Xx Xxx Tourism Development Co., Ltd. (Seal)
Legal
Representative: Yiyou Ran (signature)
Party B:
Chongqing Foguang Tourism (Group) development Co., Ltd. (Seal)
Legal
Representative: Zesong Liu (Signature)
Tourism
Development Supplemental Contract
Contact
#: LJY-02-01
Party A:
Choingqing Xx Xxx Tourism Development Co., Ltd (hereinafter referred to as “Xx
Xxx”)
Address:
20 Wangzhou Road, Peiling
Legal
Representative: Zesong Liu
Position:
Chairman
Nationality:
PRC
Phone:
000-00000000
Party B:
Chongqing Foguang Tourism Development (Group) Ltd (hereinafter referred to as
“Foguang”)
Address:
Xxxx Xxxxxxx, Changshou District
Legal
Representative: Yiyou Ran
Position:
Chairman
Nationality:
PRC
Phone:
000-00000000
Both
parties reach the following supplemental contract in accordance with the
“Tourism Development Contract”
Article
One:
The
construction project of “Tourism Development Contract” did not include the “Land
Acquisition Projects”; both parties agree to add it into the section of
construction project (2009-2012) of the contract.
Article
Two:
The new
construction project will acquire 100Mu land. The price is 560,000/Mu. The total
investment is 56 Million.
Article
Three:
In order
to speed up the construction project, both party agreed to increase the
investment from 50 million to 80 million between 2009-2012.
Article
Four:
There are
8 copies of supplemental contract. Each party holds 2 copies. Other four copies
will be filed with the Business Bureau, Maritime Administration Bureau and
Outgoing Flights Authority Bureau.
Signatures
Date:
April 13, 2009
