Sino Green Land Corp. 10-K/A

Item 2. PROPERTIES In China, there is no private ownership of land. Rather, the government owns all real property and issues certificates of property right, known as a land use right, which are transferable, generally have a term of 50 years and permit the holder to use the property. Our headquarters occupy approximately 7,400 square feet of space at 6/F No.947, Qiao Xing Road, Shi Qiao Town, Pan Yu District, Guangzhou, China, at the rate of approximately $2,000 per month, pursuant to a five-year lease agreement between the Company and Guang LV Industrial Co., Ltd., as supplemented. The lease will expire on May 1, 2012. We have the option to extend the lease under the same terms and conditions. We lease approximately 2,000 square feet of space in the Beijing Xin Fadi Agricultural Products Wholesale Market in Beijing at an annual rental of $4,700, pursuant to a two-year lease that expires in 2011. The lease provides for a renewal option. 24 We lease approximately 2,700 square feet of space in the Guangdong Yun Cheng Wholesale Market in Guangzhou at an annual rental of $2,000 pursuant to a ten-year lease that expires in 2017. The lease provides for a renewal options. We also lease approximately 8,600 square feet of space for vegetable deep processing in the Guangdong Yun Cheng Wholesale Market in Guangzhou at an annual rental of $24,000 pursuant to an eight-year lease that expires in 2017. The lease provides for a renewal option. As of December 31, 2009, we were a party to 15 land lease and development agreements that we entered into since 2005. These agreements have terms of 25 years and expire at various dates from 2030 to 2034. We paid the rental for the 25 year at inception at a total cost of approximately $21 million. At December 31, 2009, the unamortized portion of these leases was approximately $19 million. The leases cover approximately 13,700 acres in Luochuan County, in Shaanxi, on which Fuji apples are grown, 2,860 acres in the Nanhsa District in Guangzhou, in Guangdong, where emperor bananas are grown, and approximately 1,280 acres in Rongan County, Liuzhou, in Guangxi, where tangerine oranges are grown. This land is leased to farming cooperatives. We believe that all our properties have been adequately maintained, are generally in good condition and are suitable for our business. In order to expand our business, it will be necessary for us to lease more plantation land, and we plan to lease more plantation land. We lease the land on which our 220,000 square foot green food distribution hub is being constructed at the Guangdong Yun Cheng wholesale market. The lease has a term of 18 years, and, as of December 31, 2009, no rent was due under the lease. The lease provides that the landlord will construct the hub, but we are required to advance RMB40 million, which is approximately $5.8 million at the current exchange rate. As of December 31, 2009, we had advanced approximately $4.6 million. Our rent commences upon completion of the hub. The lease provides for an annual rent of approximately $1.1 million. Item 3. Legal Proceedings We are not aware of any legal proceedings or claims that we believe will have a material adverse affect on our business, financial condition or operating results. Item 4. (Removed and Reserved) PART II