China-Shanghai-Huangpu District-618 Yan'an Road Lease - Shanghai Xingtai Real Estate Development Co. Ltd. and Shanghai Linktone Consulting Co. Ltd.
SUMMARY OF LEASE AGREEMENT, EFFECTIVE SEPTEMBER 1, 2003, BETWEEN SHANGHAI
LINKTONE CONSULTING CO., LTD. AND SHANGHAI XINGTAI REAL ESTATE DEVELOPMENT CO.,
LTD.
Contracting Parties
Lessor (Party A): Shanghai Xingtai Real Estate Development Co., Ltd.
Lessee (Party B): Shanghai Linktone Consulting Co., Ltd.
Date of Signing
19th of August, 2003
Property Description
Location: C/8F, Shanghai Donghai Commercial Center, 618 Yan'An
Road Central HuangPu District, Shanghai City
Square footage: 318.15 m2 in architectural area
Type: An apartment of office space
Term of Lease
Effective Period: From 01/09/2003 to 31/08/2005 (24 months)
Relet: Party B may request the extension of the agreement only at 3 months
before the expiration and enter into a new agreement with Party A subject to its
consent of the terms and conditions therein.
Rental Use
Office use
Rent Amount
- $0.52 per square meter per day and $5,032.07 per month in total
calculated upon the architectural area.
- The rent shall be paid in RMB equivalent to the above USD amount in the
territory of PRC; if paid abroad, the rent shall be paid in USD or HKD.
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Major Obligations of either party
Party A shall:
- present the land title certificate of the tenement to the lessee before
the signing of this agreement;
- be subject to punitive damages of 3 times the monthly rent or
supplementary damages to cover the total loss of Party B if it rescinds
the agreement and repossesses the tenement due to a cause other than
Party B's default;
- be liable if it has not obtained the Rental Certificate from the real
estate administration.
Party B shall:
- be responsible for the refurbishment or any equivalent economic
compensation derived thereon, if damage is caused by the inappropriate
use by Party B;
- ensure that the tenement shall only be used for office space;
- be subject to punitive damages of 3 times the daily rent for each day
it delays the return of the tenement.
Termination Events
Party A may terminate the agreement upon one or more of the following events:
- Party B sublets, transfers, lends or exchanges the apartment to/with
other third party without Party A's written consent;
- Party B changes the architectural structure of or causes any damages to
the apartment without Party A's written consent;
- Party B's default payment of rent or other fees payable is more than 2
month's in total;
- Party B causes impediments or damages to other lessees without
simultaneous rectification;
- Party B uses the apartment or parking lot for illegal, immoral or
inappropriate purposes;
- Other events provided by laws and regulations.
Security deposit and other refundable or non-refundable payment
- Deposit: USD17,768.67 (consisting of USD 15,0096.21 of 3 months' rent
plus USD2,672.46 of 3 months' management fee). Party B shall not set
any transfer, pledge or guarantee on the deposit to third parties. The
deposit is refundable after the agreement expires, after deducting any
losses and damages incurred by Party B.
- Management fee: USD890.82 per month
- Parking fee: One parking lot is rented at the price of RMB1,800 per
month
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(equivalent to USD217.65)
- Other fees for water, gas, telephone and communication (if applicable).
Dispute Resolution
The parties have agreed to present all their disputes to the court only.
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