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Before signingthis Contract,Borrower shouIdread theContract carefuIIy,especiallythe sectionsmarked with***,and shouldconfirm that Borrower hasno disagreementwiththe Contract.BANK OFCOMMUNICATIONS LOANCONTRACTFor Mediumor ShortTerm WorkingCapital LoanLoanNo.:Wei JiaoYin2001Loan6-031Borrower:Weifang FuhuaAmusement ParkCo.,Ltd.Address:East Endof Dong Feng EastStreet,Weifang CityLegalrepresentative:Jie YangWeifang Branch of the Bank of Communications358DongFengEast StreetLender:Address:According to applicable lawsand regulationsof the People,s Republicof Chinathe〃PRC〃,the Borrower and Lender,after reachingan agreementthrough negotiations,herebyenter intothis contractpursuant toBorrowers application to Lenderfor aworkingcapital loanthe LoanArticle
1.The Loan
1.
1.Type ofcurrency:RMB
1.
2.Loan amountfull-form characters:Four hundredand fiftythousand yuanexactly.The actualprincipal borrowedby Borrower shall bethe numberwritten on thefinancial voucherissued by Lender.
2.
3.Loan term:July24,2001to June20,
20023.
4.The Loanunder this Loan Contract shall besolely forindustrial/business use.Borrower shallnot divertthe funds under this Loan Contractto anyother purpose.Article
2.Interest Rateand InterestCalculation
2.
1.Interest rate:
5.3625%,based on30days in a monthand360days in ayear.
3.
2.During theterm of this Loan Contract,interest maybe changedas prescribedbythe Peoples Bank of China whensaid Bankadjusts itsinterest rateor ratecalculationmethod,in whichcase Borrowersapproval isnot necessary.PAGE
4.
3.The formulafor calculatingthe interestis asfollows:Interest on the loan=theprescribed interestrate under this Loan Contract xLoan amountx actualdaysof use,where actualclays ofuse iscalculated fromthe day the Loanis issued.
5.
4.Settlement ofinterest under this Loan Contract isto becalculated permonth.Thesettlement dateis the20th dayof eachmonth.All principal and interestshallbe paidin fullon thedaytheterm of the Loanexpires.Article
3.Release offunds under the Loan
3.
1.Borrower mayapply forrelease offundsunder the Loan Contract,at onetime orat different times,within thefixed period,under Article
1.3hereof.However,each timeBorrower mustmake theapplicationto Lender atleast3banking daysinadvance.
4.
2.Lender shallhave the right toexamine the following issuesbefore releasingfundsunder the Loan and shall decidewhether torelease fundsbased onresults of theexamination:1whether Borrower has performedall legally-required proceduressuch asobtaininggovernment licenses,approvals andregistration andotherprocedures Lendermay requireof Borrower;2Whether arelated guarantycontract iscurrently ineffect.
5.
3.Lender shallrelease fundsat onetime oratdifferenttimes toBorrower accordingtothe Loan Voucher;and
6.
4.The fundsrelease dateand amountshall beas recordedin the Loan Voucher.Article
4.Repayment of theLoan:
4.
1.The date of repaymentof principalunderthis Loan Contractshall beas recordedin theLoanVoucher;
5.
2.Borrower shallrepay the principal and interest underthis Loan Contract infullon thedue date.
6.
3.***Borrower herebyirrevocably authorizesLender,onthe Lender,s owninitiative,to withdrawfunds fromBorrower,s depositaccount with the Bank of Communications.4・4・Borrowershallrepay principalandinterestin thecurrency providedin Article
1.1above.
7.
5.***Borrower mayrepay theLoan inadvance uponapproval fromLender.3PAGELender hasthe rightto collectthe interestfor theperiod betweenthe dateofthe prepaymentand thedateofrepayment recordedin theLoanVoucherat therate specifiedinthis LoanContract.Article
5.***Borrowers Declarationand Warranties
5.
1.Borrower acceptsandshallabide byLenders businesssystem,operational practices,and theprocedures underthis LoanContract.
6.
2.Borrower warrantsthat itwill cooperatewith Lenderonthesupervision andinspectionof theuse of the fundsborrowed underthisLoanContract andof thebusinesscondition ofBorrowerandthat itwill promptlyprovide allfinancialstatements andrelated materialsneeded byLender,which Borrower warrants tobetrue,complete andaccurate.
7.
3.Borrowerwarrantsthat itwill issuewritten noticestoLenderupon occurrenceorpossible occurrenceofthe following eventswithin sevendays thereof:1Borrower,s operationalsystem ororganizational formof propertyownership ischangedmaterially,including,but notlimited to,introducing thepractice ofcontracting,conducting leasingoperations,entering intojoint operations,restructuring equity,merging withacquiring otherentities,entering intoajoint venturecooperativearrangement,splitting intoseparate entities,setting upa subsidiary,transferring titleto property,reducing capital,termination ordissolutionand filingfor bankruptcy;it articlesof association,replaces itslegalBorrower amendsreducesits registeredcapital ormakes material changes orrepresentative,personnel;in itsfinances3Borrower sells,leases,transfers or otherwise disposesof allor partof itsassets;4Borrower providesa guarantyto athird party,which willhave amaterial adverseeffecton itsfinancial positionor its ability toperform itsobligations underthisLoanContract;5Borrower isa partytoamaterial legalsuit orits mainassets havebeen putunderproperty preservationorotherorders;6The financial position ofBorrower hasundergone amaterialchangeor thevalueof collateralhas beenmarkedly reduced;and7Borrower experiencesother matterswhich willproduce amaterial adverseeffecton itsfinancialpositionor abilityto repayits debt.4PAGEArticle
6.Other ContractualItems:
6.
1.Upon agreementby both parties,thisLoanContract willbecome effectiveupon theaffixing ofthe official Loanseal afterauthorization fromtheLender,s legalrepresentative.Article
7.***Events ofDefault
1.
1.Any ofthefollowingevents shall be considereda defaultunderthisArticle:1Borrower misappropriatesloan funds;2Borrower isdelinquent inits repaymentofthe principal or interest;3Borrower or guarantor refusesnormal financialor operationalsupervisionbyLender,or Borrower orguarantorprovides falsefinancialstatements orasset appraisalreports;4Borrowerorguarantor is involved inillegal activities;5The legalrepresentative orprimary managementpersonnel ofBorrower orguarantorisinvolvedinacriminal case;or6Borrower experiencesany ofthe eventsrequiring notificationlisted inArticle
5.3,and suchevent affectsBorrower,sabilityto repaydebt.
7.
2.In theevent ofevents ofdefauIt,Lender hastherightto takethefollowingsteps:1Stop providingloan fundsthatBorrowerhas notyet used;2Unilaterally declareall principalalready lentundertheLoan Contracttobe dueahead ofthe contractdue dateand requireBorrower immediatelytoreturn theprincipalandpay allinterest due;and3Take otherremedies as provided byapplicable lawsand regulations.Article
8.Default Liability:
8.
1.Lender willimpose penalty interest andcompounded interestaccording totheregulations ofthePeople,sBankofChinaintheevent thatBorrowerhasnot fullyrepaidtheprincipalorinterestundertheLoanContractinatimely manner,orfails touse theLoan,s fundsasprovidedby thisLoanContract.The defaultinterestrate fora foreignexchange loanshallbeover andabove theoriginalinterest rate.
9.
2.***For therecovery oftheprincipal,interest,penaltyinterest,compoundedinterest andother feesunpaid byBorrower,Borrower herebyirrevocably authorizesLenderto withdrawfunds fromits accountwiththeBankofCommunications.5PAGEArticle
9.Other Clauses:
9.
1.***Any disputeconcerning thisLoanContractis underthe jurisdictionofthelocalpeoples courtwhere Lenderis located.
10.
2.The LoanVoucher underthisLoanContract andrelated documentsand materialsconfirmedby both parties areinseparable componentsofthisLoanContract.
11.
3.This LoanContractshallbecome effectiveupon signatureor sealby legalrepresentativesor authorizedrepresentatives ofbothpartiesand upontheaffixingoftheofficialseals ofbothparties.
12.
4.This LoanContract hastwo originals,which areidentical toeach other,witheach ofthe partiesholding onecopy.There areseveral duplicatesfor futurereference.Borrower OfficialSeal:IllegibleLegal Representativeor AuthorizedRepresentative Signatureor Personal Seal:IllegibleDate of Signature:24July
2001.Lender OfficialSeal:WeifangBranchoftheBankofCommunications,Loan ContractSeal6Legal Representativeor AuthorizedRepresentativeSignature orPersonalSeal:Shixiang MaDateofSignature:July24,
2001.。