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1、SerialNo.3201112010CR0018ElectronicAdministrationNo。3201112008B00057ContractforState-OwnedConstructionLandUseRightAssignmentFormulatedby:TheMinistryofLandandResourcesofthePeoplesRepublicofChinaandTheStateAdministrationforIndustryandCommerceofthePeoplesRepublicofChina1ContractforState-OwnedConstructi

2、onLandUseRightAssignmentThepartiestothisContract：Assignor:NanjingLandandResourcesBureau，PukouBranchMailingAddress:16WendeRoad,Jiangpuneighborhood,PukoudistrictPostalCode：/Tel:/Fax：/NameofOpeningBank：/AccountNo.:/Assignee:NanjingRoyalDockHorseRacingCo.，LtdMailingAddress:/PostalCode:/Tel:/Fax：/NameofO

3、peningBank:/AccountNo.：/2ContractforStateOwnedConstructionLandUseRightAssignmentChapterIGeneralProvisionsArticle1.TheConcernedPartiestothePresentContract：Assignor：NanjingLandandResourcesBureau，PukouBranchAssignee:NanjingRoyalDockHorseRacingCo。，LtdInaccordancewithsuchlawsastheLawofLandAdministrationo

4、fthePeoplesRepublicofChina，theLawofthePeoplesRepublicofChinaonAdministrationoftheUrbanRealEstates,theContractLawofthePeoplesRepublicofChinaandrelevantadministrativeregulationsandlandsupplypolicies，thetwopartiesherebyenterintothepresentcontractonthebasisoftheprinciplesofequality,voluntariness,compens

5、ation，honestyandcredibility.Article2.TheAssignorherebyassignthelanduserighttotheAssigneeinaccordancetheauthoritybylaws,notwithstandingtheownershipoftheassignedlandbelongstothePeoplesRepublicofChina.Thestateshallbeentitledtoexerciseitsjurisdictionandadministrationoverthelandauthorizedbytheconstitutio

6、nandlawandanyotherpowerwhichshallbeexercisedbythestateaccordingtothelegalregulationofPRC,andalsoenjoyanyrightsandinterestsnecessaryforthepublicbenefits。Theresourcesandobjectsburiedthereunderandmunicipalpublicfacilitiesshallnotfallintothescopeoflanduserightassignment。ChapterIIDeliveryoftheAssignedLan

7、dandPaymentoftheAssignmentChargeArticle3.Theassignedlandislocatedingroup2，Yuaqivillage,Yongningtown,Pukoudistrict,withanareaeasttozhujiashunriverbank，westtothe104thnationalhighway，andnorthtowoodsofItalianpoplars，southtowoodsofItalianpoplars;theplotserialnumberthereofisNo。2008G38。Thetotallanduseareai

8、s72,398squaremeters，theplanninglandareaforpublicauxiliaryfacilitiesis4047。2squaremeters,andthepracticalassignedareais68350.8squaremeters。ThemetesandboundsandtheboundarymarksaspertheLandSurveyanddelimitationIllustration.Article4。Theusingpurposefortheassignedlandis:hotelindustryland。1Article5.Afterthe

9、Assigneepayofftheentirepriceamountaccordingtoarticle9ofthepresentcontract,theAssignorisresponsiveforhandingoveronMay1stof2009totheAssigneethepracticalassignedlandintheshapeofpureland,namelyhousesandconstructionshallberemovedtothefloorinthescopeofthelandparcel，withotherobjectskeepingunchanged，andthee

10、lectricwiresandpolesshallberemovedbytheAssigneeitself.Externalconditions（road，water,electricity，gas）shallbemaintainedasthecurrentsituation。ThequestionofentranceroadofthesaidlandparcelshallbesolvedbytheAssignee.Theancientorprecioustreesshallberemainedastheassignmentcondition，asforothertreestheAssigne

11、eshallcarryoutrelevantprocedureaccordingtonationalregulations。Article6。Theassignedlandusetermis40years，effectivefromthehandoveroflandbytheAssignortotheAssignee.Article7.ThetotallandknockdownchargeisRMB30,000，000Yuan(sayRMBthirtymillionYuan）.Theabovesaidcompetingpurchasepriceincludescompensationandre

12、settlementfeesofexpropriation,compensationforremovalofauxiliaryobjectsandgovernmentlandownershipearnings,notincludingtheremovalexpenseofsuchfacilitiesaselectricwiresandpolesandothertaxes.Article8。Beforethesignatureofthepresentcontract，theAssigneeshallpayofftheentirepriceamounttotalingRMB30，000，000Yu

13、an(sayRMBthirtymillionYuan).Withinwhich15%ofthetotalamountequaltoRMB4,500，000（sayRMBfourpointfivemillionYuan)shallberegardedasdepositoftheperformanceofthecontract。Thedepositshallbealsocountedinthelandpriceamount.Article9.TheAssigneeagreestopayofftheremainderofthelandpriceamountaccordingtothesubartic

14、le2ofthepresentarticle.(1）Payingoffthelandpriceamountinalumpsumwithin/daysafterthesignatureofthecontract。（2）Payingthelandpriceamountin3installmentsaccordingtothetimeandamountspecifiedhereunder:Thefirstphase：30ofthepriceamount,namelyRMB9,000，000Yuan(sayRMBninemillionYuan）,atthetimeofpayment：Nov25thof

15、2008。Thesecondphase：40ofthepriceamount，namelyRMB12,000，000Yuan（sayRMBtwelvemillionYuan)，atthetimeofpayment:Dec26thof2008。Thethirdphase:40ofthepriceamount,namelyRMB12,000，000Yuan(sayRMBtwelvemillionYuan）,atthetimeofpayment:Sep20thof2008.2ChapterIIIDevelopmentandUtilizationoftheLandArticle10.Thedevelo

16、pmentinthescopeoftheassignedlandshallbeimplementedinconformitywiththeconditionshereunder。Thenatureoflandplanning:landfortheuseofhotelindustryThefloorarearatio（FAR):0.7BuildingDensity:25GreenAreaRatio:50%BuildingHeightLimitation:15metersDetailsofconstructionrequirementsasperMainPointsofPlanningDesign

17、Otherrequirementsforthelanduse：theConsigneeshalldevelopandconstructwithrespecttorelevantregulationsofthenation。Article11.TheAssigneeagreesthattheconstructionprojectsontheassignedlandunderthiscontractshallcommencepriortoSep1stof2009.Incasethecommencementofconstructionneedstobedeferred,theAssigneeshal

18、lsubmittheapplicationfordeferraltotheAssignor30daysinadvance。AfterthedeferralofcommencementisapprovedbytheAssignor,thetimeofcompletionshallbedeferredaccordingly.ButthedeferralshallnotexceedoneyearifthedeferralisowingtotheAssignee.Article12。TheAssigneeshallberesponsiveforcompletingallconstructionproj

19、ectspriortoSep1stof2011andfulfillthecompletioninspectioncondition,incasetheconstructioncannotbecompletedinduetime，theAssigneeshallsubmitanapplicationforcompletionextensiontotheAssignor30daysinadvance。ButtheextensionshallnotexceedoneyearifthedeferralisowingtotheAssignee。Ifthereisadeferralofconstructi

20、oncommencement，thecompletiontimeofconstructionshallbecorrespondentlyextended。Article13。Duringtheconstructionontheassignedlandunderthiscontract,wherewatersupply,gassupply,powersupplies，sewagedisposal,andotherfacilitiesneedtobeconnectedwiththemainpipelines，interfaceofelectricsubstationandinletprojecto

21、utsidetheassignedland,theAssigneeagreestohandlethesematterswithrespecttorelevantrules.TheAssigneeagreestheentering,passingandcrossingofanykindofpipelineslaidbythegovernmentforpublicpurposesinthelandparcel.TheAssigneealsoagreestoguaranteethewayleaveofadjoiningarea。Article14.TheAssigneeshallapplytothe

22、Assigneeaccordingtoregulationsforlandregistryin30daysafteracquisitionofthelandwith3suchmaterialsasthepresentcontract，receiptconfirmationoflandandpaymentcertificateoflandknockdownpriceamount.Article15。TheAssigneeshallmakereasonableuseofthelandaccordingtolaw,anyactivitiesconductedintheassignedlandparc

23、elshallnotdamageorruinthesurroundingenvironmentorfacilities,andtheAssigneeshallberesponsiveforrestitutionofanylossestothecountryorathirdpartythereby。Article16。TheAssigneeshallutilizethelandaccordingtothiscontractinthetermofassignment。Anyalterationofland-usepurposeandplotratioisprohibited.IncasetheAs

24、signeeneedstoalterthelandusepurposeoritsutilizationcondition,itshallcarryoutrelevantapprovalprocedure，andacquirethepermitoftheAssignorwhichwillsignasupplementaryagreementoflanduserightassignmentcontractorsignanewlanduserightassignmentcontract.Inthatcase,thelandknockdownpriceamountneedstoberenewedcor

25、respondently，andlandalternationregistryshallbecarriedout。Within30daysaftercompletionofproject,theAssigneeshallapplytotheAssignorforreviewandinspectionoftheconstructionland,theAssignorwillsurveyandexamthecommencementtime，completiondate，conditionoflanddevelopmentandutilizationaccordingtostipulationsof

26、thepresentcontract。Iftheinspectionresultiseligible，thecertificaterenewalprocedureofstate-ownedlanduserightwillbehandled.Incasetheinspectionresultisnoteligible，thestate-ownedlanduserightcertificateshallonlybeonlyrenewedaftertheconsummationofrelevantprocessaccordingtoregulations.Article17.Withintheuse

27、termoftheassignedlandunderthiscontract，thegovernmentreservesitsrighttoadjusttheplanningoftheassignedlandunderthiscontract。Incasetheoriginalplanningneedstobemodified，itshallnotaffecttheexistingbuildingsontheassignedlandparcel。Butinthecaseoftransformation,renovationandrebuildingofthebuildings,fixtures

28、andtheiraffiliatedfacilitiesontheassignedlandwithinitsuseterm，orwhenapplyingforrenewalofthecontractatexpirationofuseterm，theeffectiveplanningatthattimeshallbeimplemented,andlanduseprocedureshallbecarriedoutaccordingtotheregulationseffectiveatthattime。Article18。Asforthelanduserightacquiredandutilized

29、bytheAssigneeinaccordancewithlaw，theAssignorshallnotwithdrawitbeforetheuseterminthiscontractexpires.Underspecialcircumstances，wheretheAssignorneedstowithdrawthestateownedconstructionlanduserightforthepurposeofsocialpublicinterestsbeforeexpirationofuseterm，theAssignorshallcompensatetheAssigneeaccordi

30、ngtothevalueof4buildings，fixturesandtheiraffiliatedfacilitiesontheassignedlandandthepriceoftheremainedusetermofthestateownedconstructionlanduserightatthetimeofwithdrawal.Article19。TheAssigneeshallnotmakeprotestsincasepartialoccupationoftheassignedlandisneededforthepurposeofcityconstruction；theoccupi

31、edlandshallbecompensatedbytheoccupyingunit，andthelandassignmentchargewillnotbereturned。ChapterIVTransfer,LeaseandMortgageoftheStateOwnedConstructionLandUseRightArticle20。Afterpayinguptheassignmentchargeofthestate-ownedconstructionlanduserightinaccordancewiththiscontract，andobtainstheCertificateforth

32、eUseofState-ownedLand,theAssigneeisentitledtotransfer，leaseormortgageallorpartofthestateownedconstructionlanduserighttoathirdparty.Whenthefirsttransferoccurs，theinvestmentanddevelopmentoftheassignedlandshallbecarriedoninaccordancewiththiscontract，andover25%ofthetotalinvestmentotherthangovernmentprop

33、ertyearningsshallbemade。Intheeventofpartialtransfer，thetwopartiestothetransferneedtoimplementdevelopmentandconstructionaccordingtotheoriginalmasterplan.Article21.Intheeventoftransferormortgageofthelanduseright,thetwopartiesthereofshallsigntransferringormortgagecontract;asforthelanduserightleasewithi

34、tsleasedurationexceeding6months,thelessorandlesseeshallalsosignaleasingcontractinwrittenform。Thecontractsoftransfer,leaseandmortgageofthestate-ownedconstructionlanduserightshallnotviolatethelawsandregulationsofthecountryandthearticlesofthepresentcontract。Article22.Incaseallorapartofthestateownedcons

35、tructionlanduserightistransferred，therightsandobligationsspecifiedinthiscontractshallbetransferredaccordingly.TheusetermofthetransfercontractfortheassignedlandshallbetheremainderoftheusetermspecifiedinthiscontractreducingthenumberoftheyearsinwhichtheAssigneehasusedtheland.Incasestate-ownedconstructi

36、onlanduserightisleased，therightsandobligationsspecifiedinthiscontractshallbestillbornebytheAssignee。Article23。Inthecaseoftransfertheabovegroundbuildings,leaseormortgageofthelanduseright,fixturesandaffiliatedfacilitiesonthe5assignedlandshallbealsotransferred，leasedormortgagedtherewith;inthecaseoftran

37、sfer,leaseormortgageoftheabove-groundbuildings，fixturesandaffiliatedfacilitiesontheassignedland,thelanduserightshallbealsotransferred，leasedormortgagedtherewith。Article24.Incasethestate-ownedconstructionlanduserightistransferredormortgaged,bothpartiesrelatedtothetransferandmortgageshallapplyforregis

38、trationofchangesforthelanduserightatthelandandresourcesadministrativedepartmentbypresentingthiscontract，contractontransferorcontractonmortgage,andtheCertificatefortheUseofState-ownedLand.ChapterVExpirationofUseTermArticle25.Whentheusetermagreedinthiscontractexpires，andtheAssigneecontinuesusingtheass

39、ignedlandunderthiscontract,anapplicationforrenewalshallbesubmittedtotheAssignornotlessthanoneyearpriortotheusetermexpires。TheAssignorshallapprovetherenewalunlesstheAssignorneedstowithdrawtheassignedlandunderthiscontractforthepurposesofsocialandpublicinterests。WhentheAssignoragreesontherenewal，theAss

40、igneeshallhandlethecompensablelanduseformalitiesinaccordancewithlaws.Thecompensablelandusecontractshallberenewed。And，thechargethereofshallbepaid。Article26。Incaseattheexpirationoftheassignedland,theAssigneemakesnoappliesforrenewalorfailstoobtainapprovalforthereasonofsocialandpublicinterests，theAssign

41、eeshallreturntheCertificatefortheUseofState-ownedLand.Thestate-ownedconstructionlanduserightshallbetakenbackbytheAssignorastherepresentativeofthestatewhilecancellationofregistrationforthelanduserightshallbeundertakeninaccordancewithregulations。Article27.Incaseattheexpirationoftheassignedland，theAssi

42、gneemakesnoappliesforrenewal,theAssignorastherepresentativeofthestatewilltakebacktheuserightofassignedland，theabove-groundbuildings,fixturesandaffiliatedfacilitiesontheassignedlandwithoutcompensation，whiletheAssigneeshallguaranteethenormalfunctionsoftheabove-groundbuildingsandotherobjectsthereon。Del

43、iberatedestructionsarenotallowed.Wheretheabove-groundbuildings,fixturesandtheiraffiliatedfacilitieslosttheirnormalfunctions，theAssignormayrequesttheAssigneetoremoveordismantletheabovegroundbuildings，fixturesandtheiraffiliatedfacilitiestorestoretheleveledgroundontheassignedland.6Article28。Incaseatthe

44、expirationoftheassignedland，theAssigneeappliesforrenewal,butfailstogetapprovalaccordingtoarticle25ofthepresentcontract,ThelanduserightshallbetakenbackbytheAssignorastherepresentativeofthestatewithoutanycompensation，notwithstandingtheAssignorshallgivecorrespondingcompensationtotheAssigneeaccordingtot

45、heresidualvalueofthesebuildings，fixturesandtheiraffiliatedfacilitiesatthetimeoftakingback.ChapterVIForceMajeureArticle29.Eitherofthepartiesshallexemptfromresponsibilityincasewhenforcemajeureoccurs，allorpartofthiscontractcannotbeimplemented.Buttheconcernedpartyshalltakeanynecessaryremedialmeasurestor

46、educethelossescausedbytheforcemajeure.Theconcernedpartyshallnotbeexemptedfromresponsibilitieswhenforcemajeureoccursduringdelayofperformance.Article30。Whenforcemajeureoccurs，thepreventedpartyshallnotifytheotherpartyinwrittenformbymail,cableorfaxwithin72hourstoprovidethedetailedinformationoftheevents，

47、andwithin30daysaftertheoccurrenceofforcemajeure,avaliddocumentforevidenceshallbeprovidedtotheotherpartytoexplainitsinabilitytoimplementordelaytheexecutionofallorpartofthiscontract。ChapterVIILiabilitiesforBreachoftheContractArticle31。IncasetheAssigneefailstopayonscheduletheassignmentchargeofthestateo

48、wnedconstructionlanduseright,thedailypenaltywhichshallbeassumedbytheAssigneeistopaytotheAssignor1ofthedeferredpayment.IncasetheAssigneefailstopaytheassignmentchargeofthestate-ownedconstructionlanduserightafter6months,theAssignorhastherighttoterminatethepresentcontract，andtheAssigneehasnorighttoreque

49、sttheAssignortorefundtheadvancedeposit。UnderthecircumstancewhentheAssigneefailstomakesuchpayment,theAssigneeshallbenotentitledtorequirehandingoveroflandfromtheAssignor，andtheliabilityofbreachingcontractshallbeentirelyassumedbytheAssignee.Article32。AftertheAssigneedulymakepaymentoftheknockdownpriceam

50、ountaccordingtothecontract，theAssignorshallhandoverthelandtotheAssigneeinduetimewithrespecttothecontract。Inthecaseof7failureofhandingoverlandintimeasaresultofthefaultoftheAssignor,thelandsatisfyingthehandoverconditionsshallbehandedoverinadvance;asforthelandwhichhasnotsatisfiedthehandoverrequirements

51、,adailyliquidateddamagetotheAssigneeequivalentto1ofthepriceamountofthedeferreddeliverylandshallbepaidwithcorrespondingratioofdepositdeducted。IncasetheAssignorfailstohandoveruseafter6months，theAssigneeisentitledtoterminatethepresentcontract,andtheAssignorshallrepaythedepositindoubleandreturntheknockd

52、ownpriceamountwiththedepositdeducted.Article33.TheAssigneeshallcarryoutdevelopmentconstructionaccordingtothecontract，intheeventoffailureofstartingdevelopmentoveroneyearafterthedateofstartingdevelopmentprescribedinthecontract，theAssignoristherebyentitledtocollectfeesforvacancyoflandwhichisequalto20of

53、thelanduserightknockdownprice;iftheAssigneefailstostartconstructionin2years，theAssignorisentitledtorecoverthelandwithoutanycompensation.Notwithstandingthatthedelayofconstructionanddevelopmentasaresultofforcemajeureoractoftherelevantgovernmentadministrationshallbeexempt。Article34.IncasetheAssigneefai

54、lstofinishdevelopmentconstructionprescriptionaccordingtothecompletiondatestipulatedinthecontract,itshallmakepaymenttotheAssignordailypenaltywhichamountsto0。5ofthelandpriceamountequivalenttotheunaccomplishedpartofthelandarea；iftheAssigneefailstoaccomplishtheconstructionin1yearsafterthecompletiondates

55、tipulatedinthecontract，theAssignorisentitledtorecovertheunaccomplishedpartoflandwithoutanycompensation.Notwithstandingthatthedelayofconstructioncompletionasaresultofforcemajeureoractoftherelevantgovernmentadministrationshallbeexempt.ChapterVIIINotificationandInterpretationArticle35.Anynotificationor

56、telecommunicationrequiredorpermittedbythecontractshallbeeffectiveafterpracticalreceiptregardlessofitsdeliveringmethod.Article36。Incaseanypartyneedstoalteritsnotifyingandtelecommunicationaddress,bankofdepositoraccountnumber,itshallinformtheotherpartyofthenewaddress，bankofdepositoraccountnumber.Anylossbylateinformationofeitherpartyshallbeassumedbythedefaultedparty.Articl