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Commodity house purchase and sale contract(Contract No. Qing 1# )Contractual Parties:Seller: Dongsheng Real Estate Developing Inc. of Guizhou Dongsheng GroupRegistered address: No.1, Building 1, No.1 Block, No.2# of Shifu east road, Kaili cityRegistration No. of Business License: 78Enterprise qualification certificate No.: Qianfang Kaizi H0002-2Legal representative: Tang shaopingTel: Postal code: Authorized agent: Address:Postal code:Tel:Authorized agency:Registered address:Registration No. of Business License:Legal Representative:Tel:Postal code:Buyer:Personal/ Legal representative Name: Yang Yufen , Wang ChengjiangNationality: ChinaI.D.Card: Address: No.60, Bejing west road, Kaili cityPostal code: Tel: Authorized agentName:NationalityAddressPostal code:Tel:In accordance with Contract Law of the Peoples Republic of China, Law of the Peoples Republic of China on Urban Real Estate Administration and pertinent laws and regulations, the seller and buyer, based on equality, voluntariness and negotiated consensus, hereby conclude the following agreement on the purchase and sale of commodity house:Article 1 basis for project constructionThe seller obtained the use right of the land parcel with No. Kaishi Guoyong(2006) Zi No.06252 located at east side of Bonan road in the form of Kaidihe No. of Transfer Contract of Land Use RightThe area of this land parcel is 13263.08m2 , its planned use is for comprehensive land, the land use age is from July 24th, 2006 to July 25th,2056.Upon examination and approval, the seller built commercial building on the land parcel. The buildings present name is Qingqing Jiayuan, Bonan New Area. the No. of Permit for A Planned Construction Project is No.13(2007), The Construction Permit No. is .Article 2 Basis for Sale of Commodity HouseThe commodity house purchased by the buyer is pre-sale commodity house. The pre-sale of the commodity house is approved by Kaili Housing Administration, the No. of Pre-sale Permit of Commodity House is Kaishang Fangyuzi No. Article 3 General Information of the Commodity house purchased by the buyerThe commodity house purchased by the buyer( referred to as this commodity house” hereinafter. See attachment 1 thereto for the floor plan. The apartment no. is subject to attachment 1) is:Apartment B, Floor 16th, Building No. 1 in the project specified in Article 1.This commercial building is used for Residence. It has steel concrete structure. The height per fllor is 3m, it has 26 floors over ground and 2 floors underground.The balcony of this commodity house is non-enclosed type.The floor area of this commodity house agreed in contract is totally185.125 m2. in details, the indoor floor area is 156.056 m2 , and the sharing floor area for public places and public housing is 29.069 m2 , ( see attachment 2 to this contract for the constitution of the sharing floor area for public places and public housing)Article 4 Charging Method and PriceThe seller and the buyer agree to calculate the price of this commodity house in the first method as follows:1 in terms of floor area, the unit price for this commodity house is (Currency: RMB) 2534.6Yuan per square meter, and the total price is (RMB) 469,218 Yuan only.2. In terms of indoor floor area, the unit price for this commodity house is (Currency: RMB)Yuan per square meter, and the total price is (Currency: RMB)Yuan only.3. Calculating by set(unit), the total price of this commodity house is (Currency: RMB)Yuan only.4. Article 5. Area confirmation and area difference treatment.Based on the charging method chosen by the parties, the area shall be confirmed and the area difference shall be handled according to floor area ( called “area” for short in this clause).This clause is not applicable to the situation where the parties choose the method of charging by set.Where there is difference between the area agreed in contract and that in property right registration, the latter shall prevail.Where the difference between the area agreed in contract and that in property right registration occurs after this commodity house has been delivered. Both parties agree to deal with the difference in the second method:1. Both parties make agreements by themselves:2. Both parties agree to deal with the difference on the following principle:1) Where the absolute value of the area difference ratio is smaller than 3% ( 3% included), the price shall be paid according to real area.2) Where the absolute value of the area difference ratio is greater than 3%, the buyer is entitled to return the house.Where the buyer returns the house, the seller shall return to the buyer the payment which has been paid by the buyer within 30 days upon the buyers proposal of returning the house and shall pay the interest according to the bank loan rate in the same period.Where the buyer doesnt return the house, if the area in property right registration is larger than that agreed in contract, the house payment incurred from the area difference ration within 3%(3% included) shall be made up by the buyer and the house payment incurred from the area difference ration above 3% shall be paid by the seller; if the area in property right registration is smaller than that agreed in contract, the seller shall return to the buyer the payment incurred from the area difference ratio the absolute value of which is within 3%(3% included) and shall pay to the buyer twice the payment incurred from the area difference ration the absolute value of which is above3%.Area difference ratio= ( area in property right registration area agreed in contract) area agreed in contract 100%Where the area difference is resulted from alteration of design, if both parties dont cancel this contract, the supplementary agreement shall be concluded.Article 6 Payment method and periodThe buyer shall make payment on schedule in the third method.1) Make lump-sum payment2) Make payment by installment3) Other payment methodArticle 7 Buyers breach Liabilities for overdue paymentWhere the buyer fails to make payment within the time limit agreed in this contract, settle it in the first method:1. Settle respectively (no accumulation) according to overdue days:1) Where the payment is overdue within 30 days, from the next day of the payment deadline agreed in this contract to the date when the payment overdue has been paid off actually, the buyer shall pay the seller 0.1% of the payment overdue per day as penalty and this contract shall be performed continuously.2) Where the payment is overdue over 30 days, the seller is entitled to cancel this contract. If the seller cancels this contract, the buyer shall pay the seller 3% of the accumulated fund payable as penalty. If the buyer is willing to continue performing this contract, this contract may be performed continuously through the sellers consent, and from the next day of the payment deadline agreed in this contract to the date when the payment overdue has been paid off actually, the buyer shall pay the seller 0.1%( this proportion shall be not smaller than that specified in item(1) of the payment overdue per day as penalty.The payment overdue in this clause refers to the difference of the payment payable at maturity specified in article 6 of his contract subtracting the amount which has been actually paid in that period; if the payment is made by installments, the payment overdue shall be determined according to the difference of the amount payable subtracting the amount which has been actually paid in the same period.2Article 8 Term of deliveryPrior to March 30th, 2010, the seller shall deliver the commodity house which meets the first condition as follows and that complies with the provisions of this contract to the buyer for use in pursusant of relevant rules of state and local peoples government.1. this commodity house is qualified upon inspection before acceptance.2. this commodity house is qualified upon comprehensive inspection before acceptance3. this commodity house is qualified upon comprehensive inspection by stages before acceptance4. this commodity house has obtained the Approving Document on Delivery and Use of Commercial building5.Where the special reasons as follows appear, except that both parties agree to cancel or amend this contract upon negotiation, the seller may extend the contract according to actual circumstances:1. in case of force majeure, the seller has notified the buyer within 30 days upon the occurrence of the force majeure;2.3.Article 9 Sellers breach liabilities for overdue deliveryExcept for special conditions specified in Article 8 of this contract, if the seller fails to deliver this commodity house to the buyer for use within the time limit specified by this contract, settle it in the first method:1. Settle respectively ( no accumulation) according to overdue days.1) Where the delivery is overdue within 30 days, from the next day of the delivery deadline specified in article 8 of this contract to the date when the delivery has been made actually, the seller shall pay the buyer 0.1% of the house payment which has been made per day as penalty and this contract shall be performed continuously.2) Where the delivery is overdue over 30 days, the buyer is entitled to cancel this contract. If the buyer cancels this contract, the seller shall return all the payment which has been made within 30 days upon receipt of the Notice of Cancelling Contract and shall pay 3% of the accumulated amount which has been paid by the buyer as penalty. If the buyer requires to continue performing this contract, the contract may be performed continuously, and from the next day of the delivery deadline specified in article 8 of this contract to the date when the delivery has been made actually, the seller shall pay the buyer 0.1%(this proportion shall be not smaller that that specified in item(1) of the house payment which has been made per day as penalty.2.Article 10 Agreement on modification of planning and designWhere the planning modification approved by planning department and the design modification consented by design unit result in changes of the following factors, which may influence the quality and use function of the commodity house purchased by the buyer, the seller shall send written notice to the buyer within 10 days upon the approval and consent of relevant department.1) Structure form, house type, space size and orientation of this commodity house;2) Changes have been occurred on equipped facilities of the commodity house and its other rightsWithin 15 days upon receipt of the notice, the buyer is entitled to make a written reply about whether to return the house. If the buyer fails to make a written reply within 15 days upon receipt of the notice. It is deemed that the buyer accepts the modification. If the seller fails to notify the buyer within specified time limit, the buyer is entitled to return the house.If the buyer decides to return the house, the seller shall return the payment which has been made to the buyer within 30 days upon the buyers requirement of returning the house and pay interest according to the bank loan rate in the same period. If the buyer doesnt decide to return the house, the Supplementary Agreement shall be concluded by both parties.Article 11 DeliveryWhen this commodity house meets the conditions for delivery and use , the seller shall notify the buyer in written form to handle delivery procedures. When both parties make delivery and inspection, the seller shall present the supporting documents specified in article 8 of his contract and sign the House Delivery Sheet. If the commodity house purchased is used for residence, the seller shall also offer residential quality guarantee and residential use brochure. Where the seller fails to present or completely present the supporting documents, the buyer is entitled to reject the delivery and the liabilities for delayed delivery thus incurred shall be assumed by the buyer. Where the delivery fails to be made on schedule for buyers sake, both parties agree to settle it in the following method:1.2.Article 12 the seller guarantees that there is no dispute on property right and debt and credit of the commodity house sold. Where the property right registration of this commodity house sold. Where the property right registration of this commodity house cant be conducted or the dispute on debt and credit happens for the sellers sake, all liabilities thus incurred shall be borne by the seller.Article 13 sellers liabilities for breach the guaranty on decoration and facility standardThe decoration and facilities of this commodity house delivered by the seller shall comply with the standard agreed by both parties( attachment 3). Otherwise, the buyer is entitled to require the seller to settle it in the 2nd method as follows:1. the seller compensates twice the price difference of decoration and facilities.2. the seller redecorated until it is qualified.Article 14 sellers guaranty on normal operation of infrastructure and public supporting constructions The seller guarantees that the following infrastructure and public supporting constructions which are directly related to the normal use of this commodity house will meet the conditions for use according to the following date:1. water supply, drainage and sewer infrastructure meets the conditions for use prior to delivery of the commodity house2.3.In the event that the infrastructure and public supporting constructions fail to meet the conditions for use, both parties agree to settle it in the following method:Article 15 agreement on property right registrationThe seller shall report the documents which shall be supplied by the seller for handling ownership registration to property right registration authority for filing within 90 days upon delivery of this commodity house. Where the buyer cant obtain the real estate ownership certificate within specified time limit for the sellers sake, both parties agree to settle it under the second circumstances:1) Where the buyer decides to return the house, the seller shall return the payment which has been paid to the buyer within days upon the buyers proposal of returning the house and compensate the loss of the buyer at % of the house payment which has been made.2) Where the buyer decides not to return the house, the seller shall pay 1% of the house payment which has been made to the buyer as penalty.Article 16 liability of repair guaranteeIf this commodity house purchased by the buyer is commercial residential house, the residential quality guarantee shall be attached to this contract. The seller shall bear corresponding liability of repair guarantee according to the commitments in residential quality guarantee since the date when this commodity house is delivered.If this commodity house purchased by the buyer is not commercial residential house, both parties shall make an attachment hereto which shall specify the guarantee scope, term and liabilities.Where any quality problem covered by the guarantee scope happens within the guarantee term, the seller shall perform the obligation of keeping the house in good repair. The seller doesnt need to bear the liability for the damage resulting from force majeure or not for the sellers sake. The seller may supply help in repairing and the repairing fee shall be paid by the buyer.Article 17 both parties make agreements on the following matters:The use right of the roof of the building where this commodity house shall be owned by the buyer of this commodity houseThe use right of the outer wall surface of the building where this commodity house shall be owned by the buyer of this commodity houseThe naming right of the building where this commodity house shall be owned by the seller.The naming right of the residential quarter where this commodity house shall be owned by the seller.Article 18 this commodity house of the buyer is only used for residence and without authorization, the buyer cant change its main structure, loading structure and purpose in use. Except as otherwise provided in the contract or the attachment thereof. The buyer is entitled to share the public places and facilities related to this commodity house with other right holders in us

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