Loan agreement 0729


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Loan agreement 0729

  1. 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: 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. 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. 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. 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. 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. 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