Property Sale and Purchase Contract
The Seller (hereinafter referred as “Party A”): Hainan Zhonghe Pharmaceutical Co., Ltd.
Legal Representative: Cui Xueyun
Address: No.168 Nanhai Street, Haikou, Free Trade Zone
The Buyer (hereinafter referred as “Party B”): Hainan Twenty First Media Co., Ltd.
Legal Representative: Weiqiong
Address: Fortune Plaza, Binhai Street, Haikou
Article 1 Basic Situation of Property
The property owned by Party A is located at Haiyun Road, Dadonghai Block, Hedong District, Sanya ;
frame of building is Composite Structu re ; the building area of the property is 927.70 square meters,
ownership certificate No. is Santufang (2007) No. 3012 .
Article 2 Nature of Land Use Right
The property related land use right was acquired by pay compensation for leasing; the useful life is till
December 19, 2065.
Article 3 Price
Calculated by building area, the sale price for that property is RMB23000 per squatter meter, the total
value is RMB21,337100.00
Article 4 Payment
Party B shall pay Party A advance payment RMB500,000.00 on the date when the contract comes into
effect, and pay another RMB38,000,000.00 before December 31, 2008. The rest amount shall be completely
paid with 90 days after consummating transfer of the property ownership.
Article 5 Delivery Time
Party A shall delivery certificate of ownership to Party B before October 31, 2008 and shall finish going
through the land alteration registration procedures before December 31, 2008.
Article 6 Liability for Party B’s overdue payment
If Party B fails to pay in time specified in Article 4, Party A has right to lay Party B a penalty interest.
Penalty interest will be charged at 3 ‰ monthly of purchasing value of property from the second day after
stipulated date to actual payment day.
Article 7 Liability for Party A’s overdue delivery
Except for special cause like force majeure, if Party A fails to