Lease Contract
Exhibit 10.15
Lessor (Party A): Heilongjiang Pingshan Yew Comprehensive Development Co., Ltd.
Lessee (Party B): Heilongjiang Yew Science and Technology Development Co., Ltd.
This Contract is enacted according to “Contract Law of the People’s Republic of China” and the Parties hereby agreed as follows:
1. | Party A agreed to lease the collectively-owned property (Beichuan Village, Pingshan Town, A’cheng District, Harbin City) with a construction area of 3885.56m2 to Party B for office use. |
2. | Lease term |
The lease term will be 23 years, from March 20, 2002 when Party A provides the premise to Party B, to March 19, 2025 when Party B returns the premise to Party A.
3. | Party B is responsible for renovation and maintenance of the premise. Party B shall take good care of the premise and its auxiliary facilities. Party B shall obtain prior consent of Party A before renovates the premise. Party B shall ensure the entirety of the premise when return it to Party A. Otherwise, Party B should compensate for all loss and damage. |
4. | Rental payment for the first 10 years should be made before the year of 2012, the amount of which is RMB 250,000; rental payment for the next 5 years should be made before the year of 2017, the amount of which is RMB 125,000; and rental payment for the rest 7 years should be made before the year of 2025, the amount of which is RMB 175,000. |
5. | Modification and termination |
This Contract can be modified or terminated when both parties agree. Otherwise, any modification and termination will be deemed as breach of contract.
6. | If the negotiation fails to resolve the controversy, each party or both parties may submit the outstanding issue to court in accordance with “Contract Law of the People’s Republic of China”. |
This agreement is in duplicate, each party will hold one copy.
Lessor: (Sign or Chop) Heilongjiang Pingshan Yew Comprehensive Development Co., Ltd.
Lessee: (Sign or Chop) Heilongjiang Yew Science and Technology Development Co., Ltd.
Xxxxxx Xxxx
March 20, 2002