Rent & Operation Contract entered by and between Liyang Jinhui Property Development Co., Ltd. and The Fifth Season Investment Management Co., Ltd. dated July 29 2009
Exhibit 10.6
Rent & Operation Contract entered by and between
Liyang Jinhui Property Development Co., Ltd. and
The
Fifth Season Investment Management Co., Ltd. dated July 29 2009
Party A: Liyang Jinhui Property Development Co., Ltd
Party B: The Fifth Season Investment Management Co., Ltd.
- General Information of the Rented Room
- Rent Purpose: department store (clothing, shoes, furniture, housing textile, housing alliance, electronic game and catering)
- Location: Building at the Intersection between Luowan Road and Yucai Road, Liyang City, Jiangsu Province (temporary name of the building: Jinhui Department Store)
- Area: 12500 sq.m.
- Property Right
- Party A promises to own the operation right to the rented room, and Party A is totally entitled to rent the room. Party A would settle the problem if there is any third party claims to the property right to the rented room.
- Term, Rental and Other Fees of Tenancy
- Term of Tenancy: from January 1, 2010 to December 31, 2024
- Free Rental Term: from January 1, 2010 to December 31, 2010
- Rental: RMB 3,000,000 yuan for the first three years, the annual rental will increase by 5% per three years after that (rental excluding from fees on water, electric, gas, communication, property management and government levy)
- Way of Payment: pay for every three months
Sublease Clause
- 70% area of the leased building can be subleased to the third party
Breach of the Contract
- When any Party of the contract breaches the contract and leads the performance of the contract unavailable, the breach party shall bear the responsibility of breach of the contract and pay the indemnities to the observed party and pay the liquidated damages of RMB 1,000,000 yuan.
- Headlines of the articles omitted
- Decoration & Fitment
- Sales & Property Management
- Modification and Termination of Contract
- Miscellaneous