1. Form 137490127492-LA-SEG9548
LOAN AGREEMENT
(the "Agreement")
LOAN AGREEMENT (the "Agreement")
Party A: Guangxi Antrust Credits Guarantee Services Co., Ltd (Company name)
Legal Representative: LI JI NING, President/CEO (Name of the Borrower)
Domicile: 2010 Room, Taian Building, Minzu Road, Nanning, Guangxi, China
Tel.: +86 771 2339660 2339670
Fax.: +86 771 2339670
Mobile: +86 18677110075
Skype: antrusts
E-mail: antrusts@yahoo.com.cn
Party B: Posso Ajudar collaborate Passu Keah Coop (Manual Loan Finance Div)
(together with Party A, the "Parties", and each, a "Party")
Legal Representative: Hanzen Z.Victori /Hazek De Zaregga
Domicile: Passu Keah Coop Phase I
WHEREAS, Party B agrees to provide a loan to Party A to finance its projects.
NOW THEREFORE, in consideration of the mutual covenants contained herein, it is hereby
agreed by and between the Parties as follow:
2. WHEREAS, Party B agrees to provide a loan to Party A to finance its projects.
NOW THEREFORE, in consideration of the mutual covenants contained herein,
it is hereby agreed by and between the Parties as follow:
i. Party A borrows USD to the Passu Keah Coop or La Coop Federee/Posso
Adjudar in the amount of One Milion US Dollar($1 Million USD WORTH
Renminbi) to Party B.
ii. Loan Term: is from July or August 2010. Processing Mandatory Consultant
Fee (PMCF) of the loan remitted to the bank account of Party B not later than
July 30 shall cost 300 USD or 1,000 USD reserved as a Retainers Fee(RF).
The date that the loan is remitted to the bank account of Party A shall be
deemed as the date that the loan is released. The due date of all installments of
the loan shall be 3 months short-term loan financing.
iii. Party A provides guarantee to Party B for the aforesaid loan as follows:
3.1 The Borrower indicated in Party A shall provide unlimited personal
guarantee to Party B, offering all their personal property as security for
the loan and other Collaterals ie Bank Guarantee, Project-Itself ,Actual
Cash deliberation etal form of securities. Party A ensures the aforesaid
guarantors to enter into a guarantee agreement with Party B within 2 up 3
business days or more prior execution of this Agreement. The guarantee
3. agreement will be attached as appendix of this Agreement.
3.2 Party A provides mortgage guarantee if deemed necessary as additional
requirement to Party B by the assets purchased using the proceeds of the
loan under this Agreement (see the list provided by Party A and approved
by Party B for more details). A mortgage contract will be otherwise
entered into and the formalities of mortgage registration shall be
completed within 7 working days after Party A obtains legal title of such
assets.
iv. Interest Rate: The first installment of USD$9,000.00, shall be calculated at
the annual interest rate of 11 %, subject to confirmation of the Parties in case
of adjustment. The other installment of USD$101,000.00 shall accrue
interests at the benchmark interest rate on bank loan for the same period
from the time that the fund is actually remitted to the account of Party A. This
Interests Rates shall not include the Interests rates imposed by the Lender
plus the principal borrower by this Institution.
v. Party B shall have the right to supervise the use of the loan borrowed by Party
A. The loan proceeds shall be deposited into a mutually managed account
opened by the Parties and the fund may be withdrawn only by an application
with seals of both the Parties or be accounted ,deposited to Escrow Account
to solidify legal agreement to be made by both parties.
4. vi. Party A undertakes to repay the principal and interests within the term
specified by this Agreement,alternately other agreement must be signed
,informed or agreed /in a separate sheet of agreement and not the Interests
rates imposed by the Primary Lender to our Posso Ajudar FINANCIAL
CONSULTANT COMPANY.
vii. Party A shall not lease, sell, transfer, re-mortgage or otherwise dispose the
mortgages without approval of Party B after this Agreement is executed.
The mortgages shall not be affected by bankruptcy, asset settlements and
transferring during the term of mortgage. Failure to comply with the
provisions shall constitute a breach of contract.
viii. Liability for breach of contract:
8.1 There shall also be imposed upon Party A penalty interests at a 0.05% rate
for any late payment computed upon the amount of any principal and
accrued interests if the repayment to Party B is overdue under this
Agreement.
8.2 Party B shall have the right to accelerate the repayment of loan and to
claim liability for breach of contract against Party A in accordance with
the above Sub-clause 8.1 if Party A violates any other covenant hereunder.
(The entire unpaid principal, accrued interest and penalties under this
Agreement shall become due and payable immediately upon receiving the
5. written notice via email or courier mail from Party B.)
8.3 Shall upon agreement is duly signed by both parties by technical computer
font or in form of physical indication of specimen to be made by one or
two parties agreed -all agreement setforth in this “LOAN
AGREEMENT”deemed to be legal agreement and irrevocable
agreement,these include in abidance with the processing fees,Retainers
Fees BE IT KNOWN (RF),any miscellaneous charges,closing fees
demanded by the Lender,Intermediary Agent and demanded within
parties involved as per this legal LOAN CONTRACT
document.Borrower shall not entitled or reserved the right to withdrawn
Form
the agreement nor breaching these contracts stated as per
137490127492-LA-SEG9548 except International Court this be arbitrated or
litigate or in form of court dispute between the agreed parties or parties
involved in this transactions and this Form must be strictly adhere by the
Borrower due to time consumed or constrained, efforts,incurring of
documents arranged by therein by Party B and other compensations
gathered or processed made by Party B at time this agreement duly signed
by either parties specifically by the Borrower.
ix. This Agreement is in triplicate and Party A is provided 3 and Party B is
provided 3 copies, which are equally binding under law.
x. This Agreement shall come into force when duly signed or sealed by the
Parties. Other agreement outside the above terms must be informed via email
without other.
6. Party A Party B
Representative: LI JI NING Representative: Hanzen Z.Victor
Contract Date: July-Aug, 2010 Contract Date: July-Aug, 2010
ID: 45252319741124773X ID.
Passport No.: G39754170 Passport
Busn permit #940986043-BP4434 Zanzibar Autonomous mandates