抵押品收據
RECEIPT FOR COLLATERAL
This receipt is made in connection with the Promissory Note dated August 23, 2004,
and the Security Agreement dated August 23, 2004, between the Borrower, China
Venturetech Co., Ltd., of 111 Industrial Road, Beijing, China 100454, and the Note
Holder/Secured Party, Citibank Group, Inc., of 111 Wall Street, New York, New York
10003, the United States.
The Note Holder/Secured Party acknowledges receipt of the following described
personal property as collateral under the Security Agreement:
One million shares of stock of China Venturetech Co., Ltd.
Said collateral is subject to the lien and all of the conditions of the Security
Agreement. In the event of the Borrower’s default on any of the terms of the Note
or Security Agreement, this collateral may be disposed of by the Note
Holder/Secured Party to satisfy any of the Borrower’s obligations thus owed to the
Note Holder/Secured Party.
The Borrower will continue to pay all costs and expenses relating to said collateral
property, including but not limited to any maintenance, storage fees, insurance, or
taxes.
This receipt does not in any manner acknowledge the condition or the value of the
property retained as collateral.
Dated: November 27, 2004.
_____________________________
________________________________
Signature of Borrower Signature of Secured
Party/Noteholder
_____________________________
________________________________
Print Name of Borrower Print Name of Secured
Party/Noteholder
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