FANTAWILD ADVENTURE THEME PARK
JOINT VENTURE PROJECT PROPOSAL
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| I.
Introduction |
| The FantaWild Adventure Theme Park was jointly designed and constructed by FANTATECH INC. and HYTECHNOLOGY INC. Fantawild Adventure Park will excite and entertain visitors with a large variety of attractions featuring the application of high-end technology techniques, along with interaction between visitor and entertainment attraction. |
| Fantawild Adventure Park is a park that blends modern technology, traditional theme and spectacular attractions, which completes an exceptional pleasure ground. This breakthrough theme park requires a space of 40,000 to 600,000 square meters land and is able to uniquely modify the park according to the available dimension of the area. Each theme is masterfully developed to create a contemporary amusement and experience. |
| This proposal will detail the terms of the Joint Venture business model between Hytechnology Inc. and potential partners with regard to Fantawild Adventure project. |
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| II.
Acquisition of Business Interest |
| This proposal is valid for any company who qualifies and wishes to engage in this venture. Hytechnology Inc., hereby known as “HYTECH”, and the prospective partner hereby known as “PARTNER” will acquire and hold the FantaWild Adventure Theme Park project during the stated cooperation period. |
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| III.
Business Contributions |
| HYTECH will contribute the following: |
| 1.
55% to 65% of the Adventure Park total attraction cost, [ percentage will be based upon HYTECH's discretion depending on the perceived risk factor of the PARTNER and the proposed location] ;
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| 2.
The general layout design, the project design;
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| 3.
Installation, system testing;
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| 4.
All the media materials for advertisement use;
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Training for the PARTNER's operations personnel;
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System warranty, upgrading of the system and software;
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| The PARTNER shall be required to contribute the following: |
| 1.
35% to 45% of the Adventure Park total attraction cost to be paid up front, [percentage will be based upon HYTECH's discretion depending on the perceived risk factor of the PARTNER and the proposed location] ;
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| 2.
A suitable location pre-approved by an authorized representative of HYTECH;
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All building construction according to the architectural design approved by HYTECH, including: interior and exterior decorations (such as carpeting, wall paint, proper ceiling, etc.), piping, water, electricity, lighting, air conditioning and ventilation, landscaping, power supplies, fire protection facilities and other requirements needed for the project;
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Local labor during on-site installation and testing, and accommodation and transportation of engineers within the locality during the on-site installation and the project operation;
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Expenditure on advertisements, all business licenses and all procedural charges as needed;
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Supervision of daily operations, management expenditures (including consumable materials);
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| IV.
Shipping and Customs Clearance |
| 1.
The project's attractions will be shipped based on FOB Hong Kong .
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| 2.
The PARTNER will be responsible for the transportation cost, customs duties, local transportation costs and other possible costs to get the cargo to the intended destination.
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The PARTNER has the responsibility to deliver the project equipment from the port to the installation site and to any other lots or storage sites thereafter.
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| V.
Operational Terms and Duration |
| The term should no less than 20 years term in accordance to the requirements and terms stipulated in this proposal. Upon expiration of terms, both parties will continue the cooperation of the Adventure Park base on the following approach: |
| 1.
The agreement can be extended if both parties are willing to go on with the cooperation terms defined in this proposal.
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| 2.
Either party or any third party can outright purchase the entire project. Partner will have first priority to make this purchase, HYTECH will have second priority and any third party will have last priority in purchasing the project outright. Outright purchase of the project by any party can only occur once the 20 year term is over. HYTECH reserves the right to approve and reject any third party who wishes to purchase the system.
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Both parties may take back their own equipment and all licensed software and all proprietary materials once the term of this proposal has terminated.
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| VI.
Revenue Share Terms |
| So long as HYTECH and the PARTNER are the owners in common of the Fantawild Adventure Park project, both parties shall have the following principles, after any sales representative commission (if applicable) is deducted. |
Parties
PARTNER
HYTECH |
Share of Revenue
70% of Gross total monthly revenue
30% of Gross total monthly revenue
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| VII.
Installation Duration |
| The total duration for the installation of the entire project is approximately 24 months after HYTECH and the PARTNER have both accepted the proposal and signed a contract. However other extraneous factors can make this installation period longer, such as delays with the proposed site, local government proceedings and other possible factors. |
Phase 1:
3 months for design
Phase 2: 12 months for production
Phase 3: 3 months for shipping
Phase 4: 6 months for installation and training |
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| VIII.
Conclusion of Proposal's Terms |
| The terms defined within this proposal shall expire on December 31 st , 2007. Please contact us for the most current proposal. |
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