Please Note that This Document is a Translation of Fujian Provincial Auction Confirm Letter In Chinese.
Fujian Provincial Auction Confirm Letter
Auction Place: Conference Room No. 1, 2nd Floor, the Administrative Service Center of Shishi City, Fujian Province
Confirmation Number: 200910-01
Auction Firm: Fujian Jiafu Auction Firm Limited Liability Company.
Purchaser (Bidder): Shishi Huabao Mingxiang Foods Co., Ltd
Auctioneer: Wang, Chunyuan; Qi Lingling
Recorder: Huang Lvwei
Bidder’s Number: 55
On the Auction held on November 6, 2009 at 15:00, Number 55 Bidder won the Auction to purchase the item described as the following and became the legally entitled purchaser to such item:
| Auction Number | Name of Auction Item | Units | Quantity |
| 01 | Lot #2009G-06 in Shishi, Fujian Province | Square Meters | 8,691.4 |
| Purchase Price | RMB 15.55 million ($2.28 million equivalent) |
Article 1: The Purchaser understands that the auction is governed by the Auction Law of China and the Purchaser agrees to be bound by the Auction Rules and Special Agreement set by this Auction. The Purchase agrees to assume the legal consequence of the Auction and hereby execute this Confirmation Letter.
Article 2: The Purchase made payment of ________RMB on the spot, or made a deposit of ____RMB, with the balance to be paid in full within ______days. Provided that the Purchaser defaults in the payment according to the schedule, the Purchaser shall assume legal consequence for such a default.
Article 3: In case that the Purchaser’s default makes it necessary to hold a new auction for the said item, the Purchaser shall be responsible for the commission to be paid to the principal and agent dealing with a new auction, and it shall be also be responsible for the difference between the purchase price herein this Confirmation Letter and that in the new auction, if lower than the purchase price herein.
Article 4: The Purchaser shall accept the Auction Item within ______days from the date on which the payment for the purchase price is fully made (in case of holidays the date can be extended to the following business day after the holidays); and the Purchaser shall be responsible for a bailee fee of ____ RMB/day. If due to the fault of the Auction Firm the Purchaser fails to obtain the Auction Item within ___ days from the date on which the payment for the purchase price is fully made, the Purchaser shall be entitled to a penalty fee of ____ RMB/day assumed by the Auction Firm.
Article 5: Upon the request by the Purchaser, the Auction Firm shall keep the Purchaser’s identity in confidential and shall be responsible for any damages to the Purchaser as a result of the violation of such a duty of confidentiality.
Article 6: The Auction Firm shall ensure that the Item the Purchaser obtains is the same item identified in the auction. Any variance shall constitute a default on the part of Auction Firm which shall therefore be responsible for any liability resulted from such a default.
Article 7 Other Matters
Article 8: This Confirmation Letter is executed in 5 copied and shall come into effect upon the execution or seal by both parties.
Purchaser: Shishi Huabao Mingxiang Foods Co., Ltd (Sealed)
Executed By: Pengfei Liu
Dated: 11-06-2009
Auction Firm: Fujian Jiafu Auction Firm Limited Liability Company (Sealed)
Date: 11-06-2009
