Bank of China Beijing City Branch Housing Mortgage Guarantee Loan Contract             
Contract No. : G. (2003) 12L.R.G. No.802
Borrower: (hereafter referred to Party A) HUANG Yong Address: 17-2-1101, Zhichun Lu, Haidian 
No. of Valid Certificate: 110108641103631 
Tel.: 13901335872          
Postal code: 100083  
Opening bank and account No.: Bank of China, Beijing City Chongwen District 
Branch, Tiantanbei Office 4060100-0188-027879-2
Lender: (hereafter referred to Party B) Bank of China Beijing City Branch 
Chongwen Sub-branch  
Address: Yatai Mansion, No. 8, Yabao Lu, Chaoyang District 
Principal: XIE Zhiyong 
Tel.: 65199114  
Postal code: 100020
Guarantor: (hereafter referred to Party C): Beijing Hongwei Real Estate 
Development Co., Ltd.  
Address: No. 87, Haidian Lu, Haidian District 
Legal representative: SHI Luning 
Opening bank and account No.: 
Tel.: 63419325 
Postal code: 100080 
Party A loans from Party B, and Party C acts as the guarantor. After negotiation, the three parties make the following contract to abide by according to relevant laws and statutes.   
Clause One Mortgage loan  
1.1 Party A applies for loan from Party B, and Party B has had consent on the loan after check, details on the loan are as follows:
Details on the housing mortgage loan: 
Currency type: RMB  
Loan Amount: RMB 
one million 
eight hundred thousand Yuan only  (￥1,800,000) 
Loan rate: (yearly) interest rate 4.77%, which will be settled by month 
Loan term: 60 months, from Sep. 22, 2003 to Sep. 22, 2008 Loan purpose: the loan only can be used to buy the house located at 
Room 908, Xueyuan International Mansion
1.2 Withdrawal mode  
The loan would be transferred in lump-sum to the seller’s account on Bank of China Beijing City Branch by Party B, the account No. is: 12674108406001 
1.3 The interest will be calculated since the offering date of the loan.  
1.4 The debt mentioned in the contract refers to the following items: principal, interest, penalty, compensation and other cost.  
1.5 The loan can be withdrawn after the effectiveness of the contract and the following conditions are met:  ⅰhandling the commercial housing presale mortgage registration 
ⅱgiving the Loan Mortgage Commitment 
If Party A does not repay the principal and interest on time, Party B has the right to charge 2.1 ten thousands of the overdue loans during the overdue period.
Clause Three guarantee mode  
Party A provides the mortgage guarantee, and Party C assumes irreversible joint responsibility for repayment.  Clause Four Mortgage  
Mortgage guarantee scope: the principal and interest of the contract, the penalty ought to be paid by Party A, the compensation and other cost.   
Clause Five Guarantee  Guarantee period: since the effectiveness date of the contract until 12 months after Party B gets the Mortgage Registration Certificate.
Clause Six Impawn   
Clause Seven Breach of contract and resolutions  If Party A does not use the loan according to the stipulated purpose, Party A will be regarded as breach of the contract.   
Clause Eight Alteration of the contract  
After the effectiveness of the contract, no party can alter or cancel the contract without others’ consent. In case of alteration or cancellation, the party should notice others in written form a month in advance, and sign the alteration agreement legally.
Clause Nine Transference of credit and debt  
Without the written consent of Party B, Party A can not transfer the authorities and liabilities of the contract to a third party. With the written consent of Party B, Party A can transfer the authorities and liabilities to a third party, which should abide by the clauses of the contract unconditionally. 
Clause Ten Cost  
All the relevant cost of the contract should be paid by Party A, excluding the items stipulated by the state additionally.   
Clause Eleven Applicable law of the contract and resolutions of disputes 
11.1 The items excluding the contract should be handled according to the relevant state laws, statutes and financial regulations.  
11.2 All the disputes should be negotiated first. If the Parties fail to reach resolutions, then the 1st measure would be taken: 
ⅰSue to the People’s Court of Party B’s Location ⅱSubmit to      arbitration committee.
Clause Twelve Other items   
If Party A or / (and) Party C breach the contract, they will be self-imposed to the forcible execution.    
Clause Thirteen Effectiveness of the contract  
If it is only guaranteed by Party C, the contract will come into effect after the seal and signature of the three parties, and then Clause Four and Clause Six are invalid.   
Clause Fourteen Annexes  
The following annexes are inalienable parts of the contract. 
14.1 Approval of withdrawal application 
Clause Fifteen Supplementary articles  
15.1 The annexed table is an inalienable part of the contract, which bears the equivalent legal force with the contract.  
15.2 The contract has five copies with the equivalent legal force. Party A, Party B and Party C holds one copy each.
Annexed table1: list of the mortgaged assets 
Name   Xueyuan International Mansion   Specification     Unit   M2  Address  Room 908 Sale Contract No. No.539709 Quantity  334.97 Property Certificate No.    Quantity     Evaluated value (RMB 10,000)  381.3834 Having  mortgaged (RMB 10,000)    Mortgage rate 47.2% Remarks      
Party A: HUANG Yong (signature)
Signing date: Sep.7, 2003   Party B: Special Seal for Loan of Bank of China Beijing City Branch (sealed) Signature of principal: GONG Zhuan (signature) Signing date: Sep. 18, 2003   
Party C: Beijing Hongwei Real Estate Development Co., Ltd. (sealed) 
Signature of principal: ZHANG Lei 
Signing date: Sep. 17, 2003
This is to certify the signature and seal on the contract are valid, and the signers sign and seal the contract at my presence. (Sealed)   
Witness:  XU Hong Yan (signature)
          HAN Lei (signature)