Party A: Mr. Zhu Xiaojun Party B: CHINA HGS REAL ESTATE, INC. (“The Company”) Subject: Extension of shareholder’s loanChina HGS Real Estate Inc. • July 22nd, 2013 • Real estate
On June 28, 2011, the Company entered into a one-year loan agreement (“USD Loan Agreement”) with Mr. Xiaojun Zhu, pursuant to which the Company borrowed $1,810,000 from Mr. Xiaojun Zhu to make a capital injection into Shaanxi Guangsha Investment and Development Group Co., Ltd “Shaanxi HGS”), the Company’s subsidiary. The interest rate for the loan was 4% per annum. On July 19, 2012, Mr. Zhu Xiaojun and the Company agreed to extend the term of loan for an additional one year period, or until June 28, 2013with the same interest term.
