CONTRACT.docx

CONTRACT.docx

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CONTRACT

MHC-HENANGUOJIDEVELOPMENTCO.,LTD.

Date:

OurRef:

Dear

RE:

OFFERFORSALEOFHOUSENUMBERONPLOTNUMBER…/..ATAREA49SECTOR5INLILONGWE

Wearepleasedtoofferyouforsaletheabove-mentionedproperty,subjecttotheagreementdetailedbelowandunderthefollowingtermsandconditions:

SELLER:

MHC-HENANGUOJIDEVELOPMENTCOMPANYLIMITED

Address:

P.O.Box114,Lilongwe

TelephoneNumber:

0997-106-585

AuthorizedCompanyRepresentative:

FuQuanhui

BUYER:

AuthorizedPerson:

Nationality:

Dateofbirth:

PhysicalAddress:

PostalAddress:

TelephoneNumbers:

IftheBuyerisacompanypleaseprovidethefollowingdetails:

CompanyRegistrationNumber:

-----------------------/--------------------------

TheBuyerandSellermutuallyandvoluntarilyagreeasfollows:

1.THEPURCHASEDPROPERTY

TheSelleristheownerofthehouseandtheplotmentionedabovewhichislocatedatAREA49,SECTOR5INLILONGWE,MALAWI.

Thepropertybeingsoldishousenumberonplotnumber…/..Theundergroundminerals,oilandotherpropertiesbelongtotheMalawiGovernmentaccordingtothelawandarenotincluded.

2.PROFILEOFTHEPURCHASEDHOUSING/PROPERTYUNIT

TheprofileofthehousetobepurchasedbytheBuyerisasfollows:

ThehouseislocatedonthelandcomprisedinplotNo.--------,atArea49Sector5inLilongweanditispartofGUOJIDREAMTOWNproject.Incaseofchangesintheplotnumberuponcompletionofthehouse,theplotnumberindicatedonthelawfullyregisteredTitleDeedshallprevail.Thechangeoftheplotnumbershallnothaveaneffectonthegeologicalcoordinatesofthehouse.

Thestructureofthehousewillbeasfollows:

brick-concretestructure,with--one-storeyand----three--metershigh.

Thepropertyunitwillcompriseofbedroom（s）;livingroom;kitchen;diningroom;toilet（s）.

Thetotalconstructionareaofthehousewillbem2.

3.PURCHASEPRICEFORTHEHOUSE

Thepurchasepriceofthehouseis.TheBuyershallpaytheequivalentsuminMalawiKwachaaccordingtotheprevailingrateatwhichtheUnitedStatesDollarTTisbeingsoldonthedayofpaymentatNationalBankofMalawi.

InadditiontotheabovethePurchasershallberequiredtopaythefollowingfeesandduties:

a）RegistrationFees………………………………………….MK5,000

b）StampDuty……………………………………………….1.5%ofthePurchasePrice

c）Conveyancingfees………………………………………..MK25,000plus1%ofPurchasePrice

d）GroundRent（payableperannumtoMalawiHousingCorporationandsubjecttochange）………………………………………………………..….MK10,000

e）TheFeesandDutiesaresubjecttochangeinaccordancewiththechangesinapplicablelawinMalawi.

f）ThePurchasershallalsoberesponsibleforpaymentofotherFees,DutiesandtaxeswhichmaybeduetotheGovernmentofMalawionthedayofregisteringthelease（titledeed）forthisplot.

4.PAYMENTTERMSANDPERIOD

TheBuyerhasthreeoptionsformakingpayments.Theoptionsareasfollows:

a）.FIRSTOPTION:

LUMP-SUMPAYMENT

TheBuyershallmakethefullpaymentofthehouse,i.e.totheSelleronthedateofdeliverymentionedbelow,whichequalstoMK---------/---------------（atcurrentexchangerate）.TheBuyershallpaytheequivalentsuminMalawiKwachaaccordingtotheprevailingrateatwhichtheUnitedStatesDollarTTisbeingsoldonthedayofpaymentatNationalBankofMalawi.

b）.SECONDOPTION:

PAYMENTBYINSTALLMENTS

Priortothesigningoftheagreement,theBuyershallpaytheamounti.e.USD,asthefirstinstallmentordeposit（TheBuyershallpaytheequivalentinMalawiKwachaaccordingtotheprevailingrateatwhichtheUnitedStatesDollarTTisbeingsoldonthedayofpaymentatNationalBankofMalawi.）.Theremainingamount,i.e.USDshallbepaidin18equalmonthlyinstallmentsofUSD.Thepaymentshallbemadebeforethe5thdayofeachmonth.Thebuyerreservestherighttopaylumpsumsatanytimeduringtheremainingperiodforpaymentofthebalance.

c）.THIRDOPTION:

MortgageLoanPayment.

TheBuyershallpay15%ofthetotalpurchasepricei.e.USD,asthefirstpayment（TheBuyershallpaytheequivalentsuminMalawiKwachatoaccordingtotheprevailingrateatwhichtheUnitedStatesDollarTTisbeingsoldonthedayofpaymentatNationalBankofMalawi.）Afterthefirstpayment,MHC-HenanGuojishallissuetitledeedforthelandtothebuyerinordertoenabletheBuyertogetabankloan.TheleaseshallbesenttothebankorasdirectedbytheBuyer.TheleaseshallbeissuedtothebankaftertheBankwritesMHC-HenanGuojirequestingfortheleaseandcertifyingthataloanhasbeenapprovedinfavorofthebuyer.TheBankshallmakepaymenttoMHC-HenanGuojianditisafterreceivingfullpaymentofthepurchasepricethatMHC-HenanGuojishalldeliverthehousetotheBuyer.IftheBuyerfailstogettheloanfromtheBank2monthsaftertheleaseisissued,theBuyerwilladvisetheSellerinwritingthenextoptionhewilltakeforthepayment.IftheBuyerfailstoprovideanotheroptiontheagreementwillbeterminatedandthehousecanbere-sold.TheSellershallrefundthepaymentmadebytheBuyertotheBuyer.TheBuyershallgiveonemonthnoticeofhisorherintentiontoclaimarefund.Therefundshallbemadeafterdeductingadministrativefeesamountingto5%oftheamountpaid.

5.HOUSEDELIVERYPERIOD

Aftersigningthisagreement,theSellershalldeliverthehouseagreeduponintheagreementtothePurchaseron;shouldthedeliverydelay,theSellershallpay0.02%ofthetotalpriceofthehousetotheBuyerforeachsingledaythatthereisadelay;shouldthedelayexceedsixty（60）days,theBuyershallhavetherighttoterminatetheagreementandclaimrefundofthepaymentmadeearlieron.Therefundshallbemadewithoutinterest.

Unlessbothpartiesagreetoaltertheagreement,theSellermayaccordinglydelaythedelivery,ifimpededby

1.AnactofGodorforcemajeure,solongasthisiscommunicatedbytheSellertotheBuyerwithinthirty（30）daysafteroccurrenceoftheevent.

2.UnavailabilityofwaterandelectricityduetoreasonsbeyondtheSeller’scontrol.

3.Delayscausedduetowaranddiseases.

6.HOUSEDELIVERYCRITERION

Thehousing/propertyunitwillbeequippedwiththefollowingupondelivery;

a.Constructionstructuretype:

brick-concretestructure.

b.Roofingtruss:

timberrooftruss;

c.Outdooreavesgalleryground:

anti-skiddingbricks;

d.In-yardroad:

toharden1.2mroadbetweenyard-entrydoorandroom-entrydoor,aswellasatwowheelsroadinthegarage;

e.Suspendedceiling:

suspendedceilingwithgypsumboard

f.Lamp:

CeilingLamp;

g.Windows:

AluminumWindows

h.Doors:

MetalSecurityEntryDoor,CompositeDoorsIndoors

i.Floor:

thefloorinsideshallhavehigh-qualityceramictiles,Kitchenandtoiletshallhavehigh-qualityanti-skiddingfloortilesandpartlypastedwithwalltiles.

j.Toiletandbathroom:

thetoiletandbathroomshallbefittedwithwashbasin,toiletseat,andshower.

k.Kitchen:

thekitchenshallbefittedwithakitchenunitandwithfinishedvegetable-washpool.

7.DELIVERYSPECIFICATIONOFINFRASTRUCTURESANDLANDSCAPING

a.Houseequippedwithwaterfacilitiessystem;

b.Houseequippedwithelectricitysupply;

c.Non-municipalroadandstreetlampsinthecommunity

d.Communityequippedwithpublicleisurespace

8.DELIVERYPROCEDURES

（A）Ifthehouse/propertysatisfiesthedeliveryspecificationsmentionedabove,theSellerwilladvisetheBuyerinwritingorbyphoneonthetimeofdelivery,venueandtherequireddocuments7daysbeforetheduedateofdelivery.IncaseoffailuretocommunicatewiththeBuyer,theexpirydateofthesignedagreementshallbethedateofdelivery;thevenueofdeliveryshallbewherethehouseislocated.

（B）Housechecking

I.TheBuyershallproceedtotakeupdeliveryofthehousewithin15daysuponreceiptofwrittennoticeofthedelivery.

II.Beforebothpartiesproceedwithdelivery,theBuyerhastherighttocheckthehouseforthefollowing:

i.Roofing,wallandleakage;

ii.Durabilityofwallsandceilingplasterlayer;

iii.Groundhollowcrackingandlargeareasandrising;

iv.Windowanddoorcracking,hardwaredestroyed;

v.Blockedpipe;

vi.Sanitarycracking,waterleakage

vii.Electricalfittings;

IncasethatthedefectsofthehouseaffectthenormalusageofthehousebytheBuyer,theSellershallberesponsibletorectifytheproblemswithin30daysandbearthecostofrepairs.

（C）Aftercheckingofthehouse,incasethattheBuyerhasnoproblemwiththehousetobedeliveredbytheSeller,thetwopartiesshallsignthedeliveryform.IncasethatthedeliveryisdelayedorfailstotakeplacebecauseoftheBuyer,thetwopartiesshallproceedasfollows:

i.Ifthedeliveryisdelayedforlessthan30days,theSellershallchargeMK---/--perdayontheBuyerassecuritychargesandtheBuyershallmakethefullpaymentofthesecuritychargesonthedayofdelivery.

ii.Ifthedeliveryisdelayedformorethan30days,theSellershallchargeMK---/--perdayontheBuyerassecuritychargesandtheBuyershallmakethefullpaymentofthesecuritychargesonthedayofdelivery.

iii.Aftercheckingupthehouse,theBuyerwillnotbeallowedtomoveinthehousewherethebuyerfailstomakethefullpayment.If,aftercheckingthehouse,theBuyerfailstomakethefullpaymentwithin6months（includingthepaymentbyinstallments,andthepaymentthroughabankloan）,theSellerhastherighttoretrievethehouseforre-sellingandreturnthealreadymadepaymenttotheBuyer.

9.PUBLICAREACLEANING,MAINTENANCEANDGUARDING

a）Thepropertyservicecompanywillprovideservicesofcleaningandmaintainingpublicspacesandprovisionofsecurity.Thest