▇▇▇▇▇ ▇▇▇▇ Torch High & New Tech Industrial &
Commercial Co., Ltd.
Contract on Dormitory Lease
Lessor (Referred to henceforth as Party A): ▇▇▇▇▇ ▇▇▇▇ Torch High & New Tech
Industrial & Commercial Co., Ltd.
Lessee (Referred to henceforth as Party B): LEPI (Zhongshan) Manufacturing
Company Limited
So as to support Party B in its effort to conduct business in the ▇▇▇▇▇ ▇▇▇▇
High-Tech Development Zone, Parties A & B, following consultation, have agreed
of choice to the following terms according to the needs of Party B:
1. Party A agrees to lease to Party B the sections in the High-tech Residential
Zone (See Appendix for details), with a built-up area of 40 rooms per
dormitory as the residence of Party B's employees. Party B agrees to
undertake the lease by choice.
2. Duration of the Lease: From March 1, 1999 to March 1, 2000 for one year.
3. Rent, Maintenance Charge and Payment Method 1) Rent Computation: The
dormitory Party A leases to Party B shall be handed over for use upon
inspection and acceptance by Parties A & B. For monthly rent, see Appendix.
(Electricity and water facilities and toilet are included. Lamps and
fluorescent lights are provided on a one-time basis and the lessee shall be
responsible for replacement and repair in the future.) Party A virtually
leases sixty-nine rooms to Party B, and Party B shall pay to Party A a total
of RMB (Yuan)33,350 per month for rent. 2) Throughout the duration of the
lease, Party A shall collect a general maintenance fee of (Yuan)0.50/M2 per
month based on floor space. Since Party B rents dormitories equaling
2,760M2, it shall pay Party A (Yuan)1,380/month as general maintenance fees.
4. Payment Method On the day Parties A&B sign this contract, Party B shall pay
Party A, on a lump sum basis, one month's rent and general maintenance fees
totaling RMB (Yuan)34,730, with the rent being (Yuan)33,350 and the general
maintenance fee being (Yuan)1380, which totals RMB (Yuan)34,730. Starting
from the fourth month, Party B shall pay rent to Party A on a quarterly
basis prior to the tenth day of the month. In the event that Party B is late
in paying the rent or does not pay for up to one month, Party A has the
right to repossess the leased property and set the deadline for Party B to
pay the overdue rent and other charges so as to compensate Party A for its
financial loss.
5. Date of Dormitory Transfer The transfer formalities for the dormitory Party
A leases to Party B shall be completed on March 1, 1999 by representatives
of both parties. After the lease takes effect, Party B shall be responsible
for arranging for the residence of its employees and for maintaining the
public facilities.
6. Certain Rules and Regulations Regarding the Execution of this Contract 1)
During its use of the dormitory, Party B shall instruct its employees to
abide by the law and edicts of the People's Republic of China, observe
social ethics, safeguard public facilities and interests, comply with all
the management and regulations of ▇▇▇▇▇ ▇▇▇▇ Torch High & New Tech
Industrial and Commercial Co., Ltd., be obligated to maintain social order
in the residential zone and pay the general maintenance fees and water,
electricity charges in time. 2) Party B shall not, without permission, make
changes in the structure and the function of the dormitory. If decoration of
the interior structure is necessary, Party B must apply for approval by
Party A in advance; otherwise, Party B shall assume full responsible for the
consequences arising therefrom. 3) Party B shall not move or change
facilities in the dormitory. In the event that facilities need to be moved
or changed, the facilities shall be provided by Party A; otherwise, Party B
shall be held accountable for the compensation. 4) Kitchens and cooking are
strictly forbidden in the dormitory. 5) Upon signing of this contract, both
parties must rigorously abide by all the terms in this contract and shall
not unilaterally alter or terminate this contract. In the event that there
are matters that are not covered by the terms in this contract or that the
contract needs to be terminated, both parties shall seek proper resolution
through concerted consultation. In the event that the contract is changed or
terminated unilaterally, the party that breaches the contract shall
compensate the other party for the virtual financial loss. 6) For those
matters regarding repairs and maintenance, please contact the General
Service Department at 5596818-2003.
7. Party B shall pay a security deposit equal to two months' rent. Party A
shall return the deposit to Party B on a lump sum basis when the dormitory
is returned on condition that no damage has been done to the facilities in
the dormitory.
8. This contract takes effect on the day of signing.
9. This contract shall be in duplicate copies, with each party holding one
copy. Both copies shall have equal legal power.
Seal of Party A: ▇▇▇▇▇ ▇▇▇▇ Torch High & New Tech Industrial & Commercial Co.,
Ltd.
Signature of representative:
Telephone:
Seal of Party A: LEPI (Zhongshan) Manufacturing Company Limited
Signature of representative:
Telephone:
Date: year 199__ month_____ day_____
▇▇▇▇▇ ▇▇▇▇ TORCH HIGH & NEW TECH INDUSTRIAL & COMMERCIAL CO., LTD.
Appendix
High-tech Residential Zone
Bldg. 1: Apt 908 1 bedroom (Yuan)450/rm/month Total: (Yuan) 450
Bldg. 2: Apt 801, 808 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 901-908 8 bedroom (Yuan)450/rm/month Total: (Yuan)3,600
▇▇▇▇. ▇: Apt 201, 206, 209, 403-406 9 bedroom (Yuan)500/rm/month Total: (Yuan)4,500
703, 704
Apt 108 1 bedroom (Yuan)400/rm/month Total: (Yuan) 400
Apt 905-912 8 bedroom (Yuan)450/rm/month Total: (Yuan)3,600
▇▇▇▇. ▇: Apt 207, 208 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 811, 812 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 906, 910, 911, 912 4 bedroom (Yuan)450/rm/month Total: (Yuan)1,800
Bldg. 6: Apt. 202,207 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 601-608 8 bedroom (Yuan)500/rm/month Total: (Yuan)4,000
▇▇▇▇. ▇: Apt 205, 208 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 301-310 10 bedroom (Yuan)500/rm/month Total: (Yuan)5,000
Apt 501-505, 507, 509, 510 8 bedroom (Yuan)500/rm/month Total: (Yuan)4,000
Apt 601, 606 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Total 96 bedrooms Total (Yuan)33,350
Remark: Apartments total 69 rooms, with a total monthly rent of (Yuan)33,350 and
a maintenance fee of 1380 Yuan.
70 double bunks X (Yuan)70 = (Yuan)4900 Total: (Yuan)37,160
▇▇▇▇▇ ▇▇▇▇ TORCH HIGH & NEW TECH INDUSTRIAL & COMMERCIAL CO., LTD.
Appendix
High-tech Residential Zone
Bldg. 1: Apt 908 1 bedroom (Yuan)450/rm/month Total: (Yuan) 450
Bldg. 2: Apt 801, 808 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 901-908 8 bedroom (Yuan)450/rm/month Total: (Yuan)3,600
▇▇▇▇. ▇: Apt 201, 206, 209, 403-406 9 bedroom (Yuan)500/rm/month Total: (Yuan)4,500
703, 704
Apt 108 1 bedroom (Yuan)400/rm/month Total: (Yuan) 400
Apt 905-912 8 bedroom (Yuan)450/rm/month Total: (Yuan)3,600
▇▇▇▇. ▇: Apt 207, 208 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 811, 812 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 906, 910, 911, 912 4 bedroom (Yuan)450/rm/month Total: (Yuan)1,800
Bldg. 6: Apt. 202,207 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 601-608 8 bedroom (Yuan)500/rm/month Total: (Yuan)4,000
▇▇▇▇. ▇: Apt 205, 208 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Apt 301-310 10 bedroom (Yuan)500/rm/month Total: (Yuan)5,000
Apt 501-505, 507, 509, 510 8 bedroom (Yuan)500/rm/month Total: (Yuan)4,000
Apt 601, 606 2 bedroom (Yuan)500/rm/month Total: (Yuan)1,000
Total 96 bedrooms Total (Yuan)33,350
Remark: Apartments total 69 rooms, with a total monthly rent of (Yuan)33,350 and
a maintenance fee of 1380 Yuan.
70 double bunks X (Yuan)70 = (Yuan)4900 Total: (Yuan)37,160
