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SOHU » Topics » Article 12 Warranty of Municipal Utilities and Other Equipment

This excerpt taken from the SOHU 10-Q filed May 8, 2007.

Article 12 Warranty of Municipal Utilities and Other Equipment

The Seller shall warrant to the Buyer that the municipal utilities and other necessary equipment furnished on the house shall, as of the following dates, meet the standards as follows:

 

1. Municipal Utilities

 

  a) Tap water and sewer: municipal standard tap water and sewer as of January 27, 2007;

 

  b) Electrical power: normal power supply as of January 27, 2007;

 

  c) Heating services: mass heating services as of January 27, 2007;

 

  d) Gas:     X     as of                         ;

 

  e)     X    

 

  f)     X    

If the house fails to meet the above standards as of the due dates, the parties agree as follows:

 

  a) The Seller shall pay to the Buyer an interest of daily rate of 0.0002 on the sum already paid by the Buyer until all the standards are met;

 

  b)     X    ;

 

2. Other Equipment

 

  a) Common landscaping area: municipal layout standard as of January 27, 2007;

 

  b) Common pass: municipal layout standard as of January 27, 2007;

 

  c) Common parking lot: municipal layout standard as of January 27, 2007;

 

  d) Kindergarten:     X     as of         X        ;

 

  e) School:     X     as of         X        ;

 

  f) Club:    X     as of         X        ;

 

  g) Shopping center:     X     as of         X        ;

  h) Gymnasium:    X     as of         X        ;

 

  i)     X    ;

 

  j)     X    ;

If the house fails to meet the above standards as of the due dates, the parties agree as follows:

 

  a) The Seller shall pay to the Buyer an interest of daily rate of 0.0002 on the sum already paid by the Buyer until all the standards are met;

 

  b)     X    ;
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