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| transfer fee which is the only legal owner of land use right without any pledge or sealed up by judicial or arbitration organs, restricted by administration organs. |
4. | Shenyang Maryland guarantees that Silverstrand International shall fully perform the Letter of Intent. |
5. | Shenyang Maryland guarantees that it will continue to guarantee for Silverstrand International after Celebrities Realestate and Siverstrand International sign the definitive Share Transfer Agreement. |
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The guarantor Shenyang Maryland shall take the irrevocable joint responsibility for the performance of Letter of Intent.
The guarantor Shenyang Maryland shall secure the deposits of RMB 60 million paid by Celebrities Realestate and its interests, breaching penalty and damage compensation during the period in the ownership of Silverstrand International, and guarantee that the Celebrities Realestate can obtain the creditor’s right including but not limited to security, litigation fee, arbitration application fee, evaluation fee, declaration fee, auction fee, execution fee, transfer fee, legal fee, travel expenses and etc..
The guarantor Shenyang Maryland confirms that the authorized representative to sign this Letter has been authorized by the top power organ Board of Directors.
This letter of gurantee, as the true manifestation of the guarantor, does not exist any fraud, threat or misunderstanding. The guarantor fully understands the contents, implications and the accordingly legal consequences of this Letter.
This Letter is signed on Nov. 3, 2007 in Shenyang China.
All the aforesaid are hereby guaranteed .
Guarantor:Shenyang Maryland International Industry Co., Ltd.
Legal representative/authorized representative:
Dated on Nov.3, 2007
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