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Title: |
Building Lease |
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Date: |
2004 |
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Preview shows 16KB of 90KB total |
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$42 |
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ID: |
#1670084 |
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BUILDING LEASE
SHANGHAI CITY CONTRACT
COMMERCIAL BUILDING ADVANCE LEASING
(CONTRACT NO: HONG DONG HU ZU LIN NO. 0302)
Parties to this Contract:
Lessor (Party A): Shanghai Office of China Orient Asset
Management Corporation
Lessee (Party B): (Shanghai) Qianjin Culture Communication
Co., Ltd.
Party A and Party B hereby enter into this Contract with respect to
the leasing by Party B of the commercial building premise that Party A may lease
legally after reaching an agreement through consultation on the basis of
equality, willingness, fairness and good faith, and in accordance with Contract
Law of the People's Republic of China and Rules on Leasing of Buildings in
Shanghai City (hereinafter referred to as the "Rules").
I. Details of the Building to be Leased
1. The building premise to be leased to Party B by Party A is located
at the whole fourteenth floor, No. 755, Weihai Rd, Jing'an District,
Shanghai. The as- measured floorage of such building premise is
1614.87 square meters, which premise, in connection of usage, is a
building premise used for office work, and, in connection of type,
is an office premise. The structure of the premise is a composite
steel-concrete structure. The layout of such premise is attached to
this Contract as Annex 1. Party A has presented to Party B:
The Title Certificate of Building and Estate; [Serial number of the
Certificate: hu fang di jing zi (2003) No. 005548].
2. As the title owner of such premise, Party A hereby enters into a
lease relationship with Party B. Prior to the execution of this
Contract, Party A has informed Party B that no mortgage has been
created on such premise.
3. Party A and Party B have set forth in Annex 2 and Annex 3,
respectively, the areas for public use or sharing, conditions and
requirements, conditions of existing decoration, auxiliary
facilities, and equipment, and the scope, standards and other
matters that need to be agreed on by the Parties with respect to the
decoration and addition of auxiliary equipment by Party B with the
permission of Party A. Party A and Party B agree that such Annexes
shall be used as the acceptance basis when Party A delivers the
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<PAGE>
premise to Party B and when Party B returns the premise to Party A
upon termination of this Contract.
II. Purpose of the Lease
1. Party B hereby covenants to Party A that such leased premise shall
be used as office space, and that it will comply with the state and
municipal regulations on the use of building premises and property
management.
2. Party B warrants that it will not use the premise for purposes other
than as set forth above without the written consent of Party B and
the approval by relevant authorities, if required.
III. Date of Delivery and Term of the Lease
1. Party A and Party B have agreed that Party A shall deliver the
premise to Party B by July 1, 2003. The term of the lease shall
begin on July 1, 2003, ending on December 31, 2006.
2. Upon the expiry of the term of the lease, Party A shall have the
right to recall such premise, and Party B shall return the same on
time. Where Party B needs to renew the lease of such premise, Party
B shall deliver a written request to renew three months before the
expiry of the term of the lease, and, when agreed by Party A, enter
into a new lease contract with Party A.
IV. Rent, Payment Terms and Due Dates
1. Party A and Party B have agreed that, the rent per day per square
meter of the floorage of this premise shall be (RMB) 2.15. The
monthly rent shall be (RMB) 104,159 (RMB one hundred and four
thousand, one hundred and fifty nine) in aggregate.
The rent of the premise shall remain unchanged for a period of three
years.
2. Party B shall pay to Party A the rent by the fifteenth day of each
month. In the event of payment delay, Party B shall pay a breach
penalty of 0.3% of the daily rent for each day when such payment is
delayed.
V. Deposit and other Expenses
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<PAGE>
1. Party A and Party B have agreed that, Party B shall pay a deposit on
the lease of the premise, the amount of which shall equal 2 months'
rent, i.e., (RMB) 208,318.
Party A shall issue a receipt certificate to Party B upon the
receipt of such deposit.
Upon the termination of the lease relationship, Party A shall return
the balance of the deposit without interest to Party B after setting
off the expenses that shall be born by Party B as agreed in this
contract.
2. During the term of the lease, expenses related to water,
electricity, gas, communications, equipment, property management,
and other expenses shall be born by Party B.
3. The calculation or allocation, payment terms and time for the above
expenses born by Party B are set forth below: Party B shall make
payments according to the rules of Shanghai Wenhui Xinmin Property
Management Company.
VI. Requirements in Using the Premise and the Obligations to
Repair
1. During the term of the lease, if Party B discovers any damage or
failure in the premise or its auxiliary facilities, Party B shall
notify Party A for repair on a timely basis. Party A shall conduct
the repair within three days after the receipt of such notice from
Party B. In the case of delay in repair, Party B may conduct the
repair on Party A's behalf with all expenses born by Party A.
2. During the term of the lease, Party B shall properly use and protect
such premise and its auxiliary facilities. In the case of any damage
or failure in such premise or its auxiliary facilities due to
improper or unreasonable use by Party B, Party B shall be
responsible for the repair. If Party B refuses to repair, Party A
may repair on Party B's behalf, with all expenses born by Party B.
3. During the term of the lease, Party B warrants to keep such premise
and its auxiliary facilities under useable and safe conditions.
Party A shall give Party B a notice of three days if it wishes to
examine and conduct maintenance on the premise. Party B shall assist
in such examination and maintenance. Party A shall minimize the
effect on the use of the premise by Party B.
4. Other than as set forth in Annex 3 or this Contract, if Party B
needs additional decoration or auxiliary facilities and equipment,
Party B shall proceed only after it has obtained Party A's prior
written consent, and, in the event that an approval from relevant
authority is required, the approval from such authority after Party
A reports to such authority. The ownership
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<PAGE>
and responsibilities of maintenance of the auxiliary facilities and
equipment added by Party B shall be agreed by Party A and Party B in
a separate written document.
VII. Condition of the Premise when Returned
1. Unless Party A agrees to the renew by Party B, Party B shall return
such premise within three days after the expiry of the term of lease
under this Contract. In the event of delay in returning the premise
without Party A's consent, for each day that such return is delayed,
Party B shall pay a fee of 3.0 yuan / square meter (RMB) for using
the premise during period that it occupies such premise.
2. The premise returned by Party B shall be under a condition after
ordinary use. When the premise is returned, it shall be inspected
and accepted by Party A, and the Parties shall settle with each
other payments of the expenses for their own account.
VIII. Sub-lease, Assignment and Exchange
1. Unless Party A has agreed that Party B may sub-lease in the
supplementary provisions of this Contract, during the term of the
lease, Party B may sub-lease any part or all of this premise to
other parties only with the prior written consent of Party A.
However, the same room for residence shall not be divided into
portions for sub-lease.
2. To sub-lease such premise, Party B shall enter into a written
sub-lease contract with the sub-lessee according to the regulations,
and shall file such sub-lease with the real estate trading center of
the district or county where the premise is located, or with the
registration and acceptance office for buildings and estate
established by the municipal building and estate bureau in the
farming system.
3. During the term of the lease, Party B shall obtain the prior written
consent of Party A if Party B is to assign the lease of such premise
to another party or exchange such premise with another premise
leased by another party. After such assignment or exchange, the
assignee of the lease obligations or the other party of the exchange
shall enter into an amendment contract to change the party to this
Contract and continue to perform this Contract.
4. During the term of the lease, Party A shall give Party B a notice of
three months if it needs to sell such premise. Party B shall have
the preemptive right under the same circumstances.
IX. Conditions of Termination of this Contract
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<PAGE>
1. Party A and Party B have agreed that, upon the occurrence of any of
the following events, this Contract shall be terminated and none of
the Parties shall be held liable to the other:
(1) the land use right covered by such premise shall have been
recalled early by law;
(2) such premise shall have been expropriated for public interest;
(3) such premise shall have been included in the building
demolition permitted by law due to the requirements of urban
construction;
(4) such premise shall have been destroyed, disappeared or shall
have been verified as a dangerous building;
2. Party A and Party B have agreed that, either Party may terminate
this Contract by written notice to the other Party upon the
occurrence of any of the following events. The breaching Party shall
pay to the other Party a breach penalty of six times the monthly
rent, and in the event that such breach has caused losses to the
other Party, and the breach penalty paid is not sufficient to set
off such losses, a compensation shall be made in the amount of the
difference between the losses thus incurred and the amount of the
breach penalty.
(1) Party A shall have failed to deliver such premise on time, and
still haven't delivered within seven days after receipt of
notice from Party B;
(2) The premise delivered by Party A shall have been incompliant
with the agreements contained in this Contract, which shall
have led to the failure to use the premise for the original
purpose under the lease; or the premise delivered by Party A
shall have born defects that threaten the safety of Party B;
(3) Party B shall have altered the usage of the premise without
the written consent of Party A, which shall have caused
damages to the premise;
(4) Damages to the main structure of the premise due to Party B's
fault;
(5) Party B shall have, without permission, sub-leased such
premise, assigned the lease of the premise or exchanged each
other's leased premises with another party;
(6) Party B shall have failed to pay rent for 2 months
cumulatively;
(7) Either Party A or Party B shall have material breach under
other provisions of this Contract;
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<PAGE>
X. Liabilities of Breach of the Contract
1. In the event that the premise has defect when delivered, Party A
shall repair the premise within seven days after the delivery,
failing which, Party A agrees to decrease the rent or amend the
relevant provisions on the rent.
2. In the event that Party A fails to inform Party B of the fact that
such premise has been mortgaged or the transfer of the title of such
premise is subject to restriction prior to the lease, which results
in losses sustained by Party B, Party A shall indemnify Party B for
such losses.
3. During the term of the lease, if Party A fails to perform its
obligations under this Contract to repair or maintain the premise on
a timely basis, which results in damages to the premise, property
loss sustained by Party B or personal injuries, Party A shall be
responsible for indemnification.
4. During the term of the lease, if Party A terminates this Contract
and recalls the premise early other than as provided in this
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