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抵押品收据
This receipt is made in connection with the Promiory 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 BorrowerSignature of Secured Party/Noteholder _____________________________________________________________ Print Name of BorrowerPrint Name of Secured Party/Noteholder
