Loan Agreement Amendment
Exhibit
10.31
Party A
(hereinafter referred to as the “Lender”): Tianshi International Investment
Group Co., Ltd.
Party B
(hereinafter referred to as the “Borrower”): Tianjin Tiens Life Resources Co.,
Ltd.
The
Lender and the Borrower have previously entered into a Loan Agreement (No.
08-06170581) dated January 21, 2008 and a Loan Agreement Amendment (No.
08-07280772) dated June 30, 2008 and wish to extend the due date of the loan
from December 31, 2008 to June 30, 2009.
The
Borrower has been due to repayment of loans $419,614.80. The Lender
agrees to give a loan to the Borrower on the following terms:
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1.
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The
amount of the loan: Six Million Eighty Thousand Three Hundred Eighty-Five
Dollars and Two Dimes
($6,080,385.20);
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2.
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The
term of the loan agreement: from January 21, 2008 to June 30,
2009;
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3.
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The
type of the loan: short-term loan without
interest;
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4.
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The
Borrower guarantees to repay the principal of the loan by June 30, 2009,
and the terms of the loan agreement shall not be
breached.
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5.
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With
approval from the Lender the Borrower can pay off the loan before June 30,
2009.
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This
agreement is made in English and Chinese respectively with 04 copies with same
effect.
The
Lender:
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The
Borrower:
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Tianshi
International Investment Group Co., Ltd.
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Tianjin
Tiens Life Resources Co., Ltd.
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By:
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/s/ Xxxxxxx Xx
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By:
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/s/ Xxxxx Xx
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Xxxxxxx
Xx, Legal Representative
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Xxxxx
Xx, Legal Representative
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Date:
December 31, 2008
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Date:
December 31, 2008
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