(Translation)
Mortgage Contract
No. J.K.D.2015—032
J.K.J.2015—095, hereinafter referred to as the main contract) signed by Min LI (borrower) and Party A on August 13, 2015, Party B is willing to use the property owned or disposable according to laws as mortgage; Through verification, Party A agrees to accept the property mortgage of Party B;
According to relevant laws and regulations, based on mutual negotiations, Party A and Party B make agreement in the following articles:
Article 1 Collateral of Party B
Party B uses the property in the List of Collateral (appendix) for mortgage. Party B guarantees its ownership or right of disposal according to laws.
Article 2 Method of Mortgage Guarantee
1. When the debt stipulated in the main contract is due, the guarantee responsibility of the loan provided by Party A to Party B yet not repaid by Party B is ascertained according to the scope of mortgage guarantee in Article 3 of this contract; before the debt stipulated in the main contract is due, if Party A conducts recourse on the borrower in advance according to the main contract, Party B shall also take the guarantee responsibility with the collateral.
2. If Party A and Party B (or borrower) make written agreement of extending duration on the debt duration, interest rate, amount and etc. stipulated in the main contract, or Party A makes an adjustment in the interest rate according to the main contract during the debt duration stipulated in the main contract, it is not necessary to
get consent from Party B or to inform Party B and Party B agrees to all, then the mortgage guarantee responsibility undertaken by Party B shall not be affected.
Article 3 Scope of Mortgage Guarantee
The scope of mortgage guarantee includes the entire principal stipulated in the main contract, interest, overdue interest, penalty interest, compound interest, default fine, compensation for loss, all charges to enforce the mortgage right and realize the creditor’s rights (including but not limited to legal costs, arbitration fees, costs of preservation, announcement fees, assessment fees, appraisal charges, auction costs, travel expenses, communication expenses, counsel fees and etc.) and all other payable expenses of the debtor in the main contract.
Article 4 Custody of Ownership Certificate and Registration
of the Collateral
Party B shall deliver ownership certificate of the collateral to Party A on the date of contract signing, and both parties agree that within 2 days after the contract is signed, Party B shall unconditionally assist Party B with relevant mortgage registration procedures. Ownership certificate of the collateral shall be in the custody of Party A during mortgage period.
Article 5 When there are other mortgage guarantee, pledge guarantee or guarantees in the creditor’s rights of Party A, if Party A gives up or removes other mortgage guarantee and pledge guarantee or dismisses guarantee responsibility of guarantees, Party B shall still take mortgage guarantee responsibility regarding Party A according to articles stipulated in this mortgage contract.
If Party A suspends granting the loan that has not been granted or collects granted loan in advance based on the articles in the main contract, the guarantee responsibility undertaken by Party B according to this contract shall not be affected.
Article 6 Cost Bearing
Relevant costs stipulated in this contract such as assessment fees, insurance premium, appraisal charges, registration fees, custody charges and etc.
Article 7 Custody of the Collateral
1. During the mortgage period, the collateral shall be in custody of Party B or the entrusted agent of Party B; Party B and the entrusted agent of Party B shall maintain proper custody of the collateral and have the obligation of repair, maintenance and keeping it intact and shall accept the inspection of Party A at any time.