China Construction Bank Mortgage Covenant

Contract number: ____________

Mortgagor:________________________________________

residence:__________________________________________________

phone:__________________________________________________

Legal representative: ____________________________________________

Account opening financial institution and account number: ____________________________________

fax:__________________________________________________

Postal code: ______________________________________________

mortgagee:______________________________________

residence:__________________________________________________

phone:__________________________________________________

Legal representative: ____________________________

fax:__________________________________________________

Postal code: ______________________________________________

In order to ensure the performance of the _________ loan contract, Party A is willing to use the property that it has the right to dispose as collateral. After review, Party B agrees to accept Party A’s property mortgage. Party A and Party B agree by agreement according to relevant laws and regulations. The following terms:

The first party shall set up a mortgage with the property listed in the “mortgage list”.

Article 2 The loan amount of Party A's mortgage guarantee _____________ yuan loan period from ______ year ____ month _ day to ______ year ____ month ____ day.

Article 3 Party A guarantees the ownership or management of the collateral according to law.

Article 4 Party A shall deliver the collateral ownership certificate file to Party B on the effective date of this contract. Party B shall keep the collateral ownership certificate file on custody during the mortgage period.

Article 5 The scope of the mortgage guarantee: the loan amount ______________ yuan and interest, the liquidated damages and compensations that the borrower should pay, and the expenses for realizing the loan claims and mortgage rights.

Article 6 The validity of this contract is independent of the secured loan contract, and the invalidity of the loan contract does not affect the validity of this contract.

Article 7 The relevant assessment, insurance, appraisal, registration, custody and other expenses under this contract shall be borne by Party A.

Article 8 During the mortgage period, Party A is obliged to properly keep the collateral, keep the collateral intact, and accept Party B's inspection at any time.

Article 9 Party A shall handle the property insurance of the collateral during the mortgage period. The first beneficiary of property insurance is Party B. The insurance policy shall be kept by Party B on its behalf.

Article 10 During the mortgage period, if the collateral loses the scope of insurance coverage, or the value of the collateral is reduced due to the behavior of the third party, the insurance compensation or damages shall be deemed as the mortgaged property, and Party A shall deposit it into the account designated by Party B. Party A shall not use it during the mortgage period.

Article 11 If the value of the collateral is reduced, Party A shall provide Party B with a guarantee equivalent to the reduced value within 30 days.

Article 12 During the mortgage period, Party A shall bear the responsibility independently for causing environmental pollution or causing other damages.

Article 13 During the mortgage period, Party A shall not give, relocate, lease, transfer, re-mortgage or otherwise dispose of the collateral under this contract without the prior written consent of Party B.

Article 14 During the mortgage period, with the written consent of Party B, the price of Party A's transfer of the collateral shall be used preferentially to pay Party B the debts secured in advance.

Article 15 When the time limit for the performance of the loan contract expires and the borrower fails to pay off the debt, Party B has the right to obtain the mortgage right by discounting the price of the collateral or by preferentially obtaining the price of the auction or the sale of the collateral.

Article 16 In the event that one of the following circumstances occurs, Party B shall have the right to dispose of the collateral in advance to realize the mortgage, stop the loan under the loan contract or recover the principal and interest of the loan under the loan contract in advance:

1. Party A is declared bankrupt or disbanded;

2. Party A violates the definition of Articles 4, 8, 9, 11, and 13 of this contract or other serious breach of contract;

3. During the performance of the loan contract, the borrower was declared bankrupt, disbanded, arbitrarily changed the corporate system, the party’s loan claims were lost, the purpose of the loan was changed, the lawsuit was involved or was about to be involved in a major lawsuit, and other circumstances were sufficient to affect its solvency or lack of debt service. The behavior of sincerity and so on.

Article 17 If Party A causes economic losses to Party B due to the existence, controversy, seizure, deduction or mortgage of the mortgaged property, Party B shall pay Party B a default of ________% of the loan amount under the loan contract. If the liquidated damages are insufficient to make up for the losses of Party B, Party A shall also compensate for the shortfall. Party B has the right to offset the liquidated damages and compensation directly with the funds in Party A's deposit account.

Article 18 The price of Party B’s disposal of collateral according to law shall be distributed in the following order:

1. Pay the fees required to dispose of the collateral;

2. Pay off the loan interest of the borrower owed by the borrower;

3. To settle the principal, liquidated damages and compensations owed by the borrower to Party B;

4. Pay other fees.

Article 19 Other agreed matters

________________________________________________________________________

________________________________________________________________________

Article 20 If a dispute over the movable property collateral arising from this contract is resolved through negotiation, if it fails to reach a consensus, it shall file a lawsuit with the local people's court of Party B.

Article 21 This contract shall take effect from the date when the collateral in the “collateral list” is registered.

Article 22 This contract shall be signed by the legal representatives of both parties and affixed with the official seal.

Article 23 The original of this contract shall be in duplicate, and each party shall hold one copy.

Party A: ________________

Legal representative: ________________

________year month day

Party B: ________________

Legal representative: ________________

________year month day

Schedule

List of collateral under _________ "mortgage contract"

Collateral name

Specification model

unit

Quantity

Certificate of title and number

Premises

Mortgage assessment value

Has set a mortgage amount for other claims

Remarks

Mortgagor: __________________

Legal representative or

signature:________________

Mortgagee: Construction Bank

Legal representative or

signature:________________