EXHIBIT 10.2
ACKNOWLEDGEMENT OF DEBT
1. Amount of Debt: Twenty Millions in New Taiwan Dollars.
2. Term of Debt: Commencing from the date of first loan appropriation to May 3,
2009.
3. Interest Calculation
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(1) The interest is calculated by raising 3.475% annual interest rate to
the float rate of one-year fixed deposit listed by CHUNGHWA POST (the
current annual interest rate is 5%), which shall be paid by month
accordingly since the beginning day of loan. In case said company
adjusts preceding list interest rate, the new interest shall be
calculated by new interest rate plus former raised quota since the day
of adjustment; but only the annual interest rate aside from raised
quota is over 3%, then 3% annual interest rate shall be employed.
(2) Other
4. Penalty Calculation
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In case that debtor delays to pay the principle or interests, in addition to
paying the delayed interest calculated by appointed interest rate, he shall also
pay the penalty in the principle calculated by 10% of preceding appointed
interest rate since the due day of principle or the rendering day of interest if
the overdue payment is less than six month; and he shall pay double of preceding
calculation if it exceeds six months.
5. Appropriation Ways
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The |X| mark that the debtor checks in following |_| shall govern, instead the X
mark in the |_| means not applicable.
|X| 1.The debtor agrees to transfer the full amount of loan to No.
602520 saving account in Songlong branch of your bank on loan
appropriation day.
|_| 2.Other
6. Payment Approaches
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The |X| mark that the debtor checks in following |_| shall govern, instead the X
mark in the |_| means not applicable.
|_| 1. Before the expiration of loan term, the debtor shall pay off the
principle in once or in installments.
|_| 2. The principle shall be paid in months as a term, and total in
terms.
|_| 3. Taking one month as a term, the principle and interest shall
proportionally be paid monthly in accordance with the monthly payment
calculated by annuity method commencing on the day of loan.
|_| 4. From the first year to the year, only the interest shall be paid
by monthly, while the principle shall be paid in one month as a term,
and total in terms commencing on the year.
|_| 5. From the first year to the year, only the interest shall be paid
by monthly, while the principle and interest shall proportionally be
paid monthly in accordance with the monthly payment calculated by
annuity method commencing on the year.
|_| 6. From the day of loan appropriation, the promiser shall pay the
monthly payment for terms calculated by annuity method, and the balance
outstanding shall be paid in once at the expiration of loan period.
|X| 7. The debtor shall pay account administration fee, interest,
penalty, expenses and principle payables derived from this loan by
appointing No. 602520 saving account in Songlong branch of your bank as
transferring account of payment and use this agreement as power of
attorney. The debtor agrees to maintain preceding authorized account in
deposit amount at least two times of the principle and interest
payables for consented account transferring.
7. Other Covenants
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1. The guarantor is willing to share the join responsibility with the
debtor for this debt liability, that is, the responsibility for
liquidation on his own, and also waiving the in accordance with
2. For performing the guarantee responsibility, the guarantor shall take
the location of your bank as performing place. Where there is lawsuit
involved in this case, both parties agree to take Taipei District
Court as the jurisdiction of first trial.
3. When dealing with your bank, the debtor and guarantor agree to use the
address listed on this loan as reaching place for relevant documents.
If the residence of guarantor has been changed, he shall inform your
bank in writing immediately, then both parties agree to use altered
residence for delivery. Failing to do so, the relevant documents sent
by your bank to following addresses (or latest address notice to your
bank) shall be deemed as being delivered to guarantor through regular
mail delivery period.
4. The debtor shall accept the supervision of capital use by Small and
Medium Business Credit Guarantee Fund in anytime regarding the
account, vouchers of relevant payment for goods and the status of
equipment installation and usage, and the debtor shall not refuse.
5. Other than each article granted in this acknowledgement of debt, the
debtor also agrees to comply with covenants listed on articles of
agreements additional made with your bank. Anything not addressed in
the acknowledgment of debt shall comply with said agreement.
6. The debtor and guarantor understand hereby and agree your bank, all
companies subordinated or related to Fubon Financial Holding Company,
Joint Credit Information Center, Small and Medium Business Credit
Guarantee Fund, Taiwan Clearing House, Financial Information Service
Co., Ltd., other institutions appointed by Ministry of Finance, or
your bank and all companies subordinated or related to Fubon Financial
Holding Company (hereinafter the preceding institutions) that has
contract made with because of operation requirement, as to the
collection, computer processing, international transmission within the
contents of special purposes required by registered business items or
businesses made in articles of incorporation, and mutually use
different current and future data of all business transactions dealing
with the debtor and guarantor, meanwhile the preceding institutions
can also provide collected data of the debtor and guarantor to your
bank.
7. The debtor agrees to pay your bank the account administration fee for
one time payment forty thousand New Taiwan Dollars while in loan
appropriation.
8. Specified Article: Not applicable
Hereby
Taipei Bank
(The promiser has already reviewed the contents and commitments of all preceding
articles in reasonable period and sealed with chop)
The Debtor: (signature and seal)
Address:
Joint Guarantor: (signature and seal)
Address:
ID Number:
Joint Guarantor: (signature and seal)
Address:
2
ID Number:
Joint Guarantor: (signature and seal)
Address:
ID Number:
3
MORTGAGE SETTING REGISTRATION AGREEMENT
To: Same as following pledgee and applicator (that is, the designator of trust
certification and also the pledger).
Subject: To explain the mortgage setting events
Description: The trust certificate mortgage setting registration application
form has been received by April 21, 2004.
This company has arranged the mortgage registration (registration number 5 on
April, 21, 2004) to trust certificates listed on following pledged goods.
Afterward when the pledgee exercises mortgage or mortgage elimination, he shall
notify this company by "exercising mortgage notice" or "mortgage elimination
notice" printed by this company accompanied with trust certification, otherwise
is not acceptable.
This company is eligible for exercising the right of neutralization.
This company agrees to waive the right of exercising neutralization.
The Pledgee:
The Applicator (pledger):
The breakdown of pledged goods:
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Type of Trust Fund Account Trust Period Amount of Trust
Certification
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Yield Certificate No.
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520 00505202159720 0930421 NT
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1.900% 02275831 0941021 2,000,000
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NT
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NT
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NT
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NT
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