EX-10.2 8 globalbackbone_ex10-2.htm EXHIBIT 10.2

 

Exhibit 10.2

 

Loan agreement

 

Lender: (Party A) Chun Hong

 

Borrower: (Party B) Zhengzhou Feizhiyue Automobile Sales Co., Ltd

 

I.Party B borrows RMB 2,163,500 from Party A for 36 months, starting from April 29, 2020, to May 13, 2023. The starting date is subject to change, depending on actual date of funding.

 

II.Party B agrees to use its fully owned motor vehicles as collateral, including 5 BYD Ditai and 15 BYD E3.

 

III.Party A has the right to repledge the collaterals to third parties during loan term. Any fees associated with the repledge should be covered by Party B.

 

IV.Xinyang Tanyao Auto Sales Co., Ltd is going to fund the loan on behalf of Party A. Party B shall make monthly payment to the designated account as shown below:

 

Account Name: Chun Hong

Bank Name: Daqing Village Commercial Bank Co., Ltd

Account Number: 6235160005103089166

 

V.Party B agrees to make timely payment and be held liable for any economic damages caused by late payment.

 

VI.This agreement is made in two copies, and each party holds one copy.

 

Lender Signature: Chun Hong

 

Borrower Signature (Seal): Zhengzhou Feizhiyue Automobile Sales Co., Ltd

 

Date: April 28, 2020

 

 

 

Repayment Schedule

 

Loan Start Date: 20200429 Loan Maturity Date: 20230427
Repayment Method: Fixed monthly payment Loan Amount: 1,054,000
Origination Fee: 124500 (due on maturity) Interest rate (monthly): 0.5%

 

Loan Schedule

 

Number of
Period		 Payment Due
Date		 Monthly Payment Principal Interest Remaining Balance
1 5/29/2020                  32,064.72                 26,794.72      5,270.00           1,027,205.28
2 6/29/2020                  32,064.72                 26,928.70      5,136.03           1,000,276.58
3 7/29/2020                  32,064.72                 27,063.34      5,001.38              973,213.24
4 8/29/2020                  32,064.72                 27,198.66      4,866.07              946,014.59
5 9/29/2020                  32,064.72                 27,334.65      4,730.07              918,679.94
6 10/29/2020                  32,064.72                 27,471.32      4,593.40              891,208.62
7 11/29/2020                  32,064.72                 27,608.68      4,456.04              863,599.94
8 12/29/2020                  32,064.72                 27,746.72      4,318.00              835,853.21
9 1/29/2021                  32,064.72                 27,885.46      4,179.27              807,967.76
10 2/28/2021                  32,064.72                 28,024.88      4,039.84              779,942.88
11 3/29/2021                  32,064.72                 28,165.01      3,899.71              751,777.87
12 4/29/2021                  32,064.72                 28,305.83      3,758.89              723,472.03
13 5/29/2021                  32,064.72                 28,447.36      3,617.36              695,024.67
14 6/29/2021                  32,064.72                 28,589.60      3,475.12              666,435.07
15 7/29/2021                  32,064.72                 28,732.55      3,332.18              637,702.53
16 8/29/2021                  32,064.72                 28,876.21      3,188.51              608,826.32
17 9/29/2021                  32,064.72                 29,020.59      3,044.13              579,805.73
18 10/29/2021                  32,064.72                 29,165.69      2,899.03              550,640.03
19 11/29/2021                  32,064.72                 29,311.52      2,753.20              521,328.51
20 12/29/2021                  32,064.72                 29,458.08      2,606.64              491,870.43

 

 

 

21 1/29/2022                  32,064.72                 29,605.37      2,459.35              462,265.06
22 2/28/2022                  32,064.72                 29,753.40      2,311.33              432,511.67
23 3/29/2022                  32,064.72                 29,902.16      2,162.56              402,609.50
24 4/29/2022                  32,064.72                 30,051.67      2,013.05              372,557.83
25 5/29/2022                  32,064.72                 30,201.93      1,862.79              342,355.89
26 6/29/2022                  32,064.72                 30,352.94      1,711.78              312,002.95
27 7/29/2022                  32,064.72                 30,504.71      1,560.01              281,498.24
28 8/29/2022                  32,064.72                 30,657.23      1,407.49              250,841.01
29 9/29/2022                  32,064.72                 30,810.52      1,254.21              220,030.50
30 10/29/2022                  32,064.72                 30,964.57      1,100.15              189,065.93
31 11/29/2022                  32,064.72                 31,119.39         945.33              157,946.53
32 12/29/2022                  32,064.72                 31,274.99         789.73              126,671.55
33 1/29/2023                  32,064.72                 31,431.36         633.36                 95,240.18
34 2/28/2023                  32,064.72                 31,588.52         476.20                 63,651.66
35 3/29/2023                  32,064.72                 31,746.46         318.26                 31,905.20
36 4/29/2023                  32,064.72                 31,905.20         159.53                           0.00

 

 

 

Repayment Schedule

 

Loan Start Date: 20200515 Loan Maturity Date: 20230513
Repayment Method: Fixed monthly payment Loan Amount: 1,109,500
Origination Fee: 130000 (due on maturity) Interest rate (monthly): 0.5%

 

 

Loan Schedule

 

Number of
Period		 Payment Due
Date		 Monthly Payment Principal Interest Remaining Balance
1 6/15/2020        33,753.14         28,205.64      5,547.50          1,081,294.36
2 7/15/2020        33,753.14         28,346.67      5,406.47          1,052,947.69
3 8/15/2020        33,753.14         28,488.40      5,264.74          1,024,459.29
4 9/15/2020        33,753.14         28,630.84      5,122.30             995,828.45
5 10/15/2020        33,753.14         28,774.00      4,979.14             967,054.45
6 11/15/2020        33,753.14         28,917.87      4,835.27             938,136.58
7 12/15/2020        33,753.14         29,062.46      4,690.68             909,074.13
8 1/15/2021        33,753.14         29,207.77      4,545.37             879,866.36
9 2/15/2021        33,753.14         29,353.81      4,399.33             850,512.55
10 3/15/2021        33,753.14         29,500.58      4,252.56             821,011.97
11 4/15/2021        33,753.14         29,648.08      4,105.06             791,363.89
12 5/15/2021        33,753.14         29,796.32      3,956.82             761,567.57
13 6/15/2021        33,753.14         29,945.30      3,807.84             731,622.27
14 7/15/2021        33,753.14         30,095.03      3,658.11             701,527.24
15 8/15/2021        33,753.14 $30,245.50      3,507.64             671,281.74
16 9/15/2021        33,753.14         30,396.73      3,356.41             640,885.01
17 10/15/2021        33,753.14         30,548.71      3,204.43             610,336.29
18 11/15/2021        33,753.14         30,701.46      3,051.68             579,634.84
19 12/15/2021        33,753.14         30,854.97      2,898.17             548,779.87
20 1/15/2022        33,753.14         31,009.24      2,743.90             517,770.63

 

 

 

21 2/15/2022        33,753.14         31,164.29      2,588.85             486,606.34
22 3/15/2022        33,753.14         31,320.11      2,433.03             455,286.24
23 4/15/2022        33,753.14         31,476.71      2,276.43             423,809.53
24 5/15/2022        33,753.14         31,634.09      2,119.05             392,175.44
25 6/15/2022        33,753.14         31,792.26      1,960.88             360,383.17
26 7/15/2022        33,753.14         31,951.22      1,801.92             328,431.95
27 8/15/2022        33,753.14         32,110.98      1,642.16             296,320.97
28 9/15/2022        33,753.14         32,271.53      1,481.60             264,049.44
29 10/15/2022        33,753.14         32,432.89      1,320.25             231,616.54
30 11/15/2022        33,753.14         32,595.06      1,158.08             199,021.49
31 12/15/2022        33,753.14         32,758.03         995.11             166,263.45
32 1/15/2023        33,753.14         32,921.82         831.32             133,341.63
33 2/15/2023        33,753.14         33,086.43         666.71             100,255.20
34 3/15/2023        33,753.14         33,251.86         501.28               67,003.34
35 4/15/2023        33,753.14         33,418.12 $335.02               33,585.21
36 5/15/2023        33,753.14         33,585.21         167.93                         0.00