Document:

SETTLEMENT AGREEMENT

AND

RELEASE

 

This
Settlement Agreement and Release (the “Agreement”) is entered into as of the 30th day of June 2011, by and between
China Fruits Corporation, a Nevada corporation (“CHFR”) and the individuals executing this Agreement listed on the
signature page, with respective residential address set forth in Exhibit A (referred to collectively as the “Creditors”).

 

 

RECITALS

 

 

A.WHEREAS,
Creditors advanced certain foreign consulting, advisory, legal and accounting fees during the periods from May 2006 to June 30,
2011 for the benefit of CHFR. The amounts outstanding as of December 31, 2009 and June 30, 2011 were $335,146 and $539,129, respectively:
and

 

B.WHEREAS,
CHFR has payment and delivery obligations to Creditors for the payment of those advanced amount, including principal and interest;
and

 

C.WHEREAS,
Creditors desire to settle the amount of $335,146 advanced as of December 31, 2009 in exchange for total 11,171,534 shares of Common
Stock issued by CHFR at the market price of $0.03 per share.

 

D.WHEREAS,
the parties desire in exchange for the releases and promised delivery designated herein to release and discharge any and all claims
that exist between the parties hereto arising from the amount of $335,146 advanced by the Creditors;

 

NOW
THEREFORE, in consideration of the mutual covenants contained herein which are acknowledged to be good and valuable consideration
the parties agree as follows:

 

1.              
CHFR shall issue 11,171,534 (Eleven Million One Hundred Seventy One Thousand Five Hundred Thirty Four) restricted shares
of its common stock to Creditors within four business days of the execution of this agreement.

 

2.              
CHFR and Creditors shall each release and discharge the other party from any and all charges, claims and rights that were
asserted or could have been asserted as to the other party arising out of the amount of $335,146 advanced by Creditors to CHFR
upon the execution and performance provided for herein.

 

 

 

3.              
Except as expressly set forth in this agreement, the parties hereby release, acquit and forever discharge each other, their
present and former officers, directors, members, employees, affiliates, owners, partners, attorneys, agents, successors and assigns,
of and from any and all claims, demands, promises, costs, damages, expenses and/or causes of action of any nature whatsoever, which
exist or may exist, as of the date of this agreement, including, but not limited to, those claims which are made or could be made
in a legal action, whether known or unknown, liquidated or contingent. In this regard, the parties acknowledge and represent that
they have made their own investigation with respect to the claims involved in any prior dealings and the advisability of settlement
and that they have not relied upon any representations of any other party to this agreement in agreeing to settlement of the all
claims and the mutual release contained herein.

 

4.              
The parties acknowledge and agree that this agreement is entered into in settlement and compromise of disputed or potential
claims against the amount of $335,146 advanced by Creditors and shall not constitute an admission of any evidence of wrongdoing
by any party and that each party denies any liability to any other party to this agreement.

 

5.              
CHFR understands that Creditors is relying upon CHFR’s representations and warranties as contained in this Agreement
and the settlement of claims as set forth herein.

 

6.              
Should legal action be necessary to enforce, construe, rescind, terminate or recover for the breach of the provisions of
this agreement, the prevailing part or parties shall be entitled to recover all costs of suit, including reasonable attorney's
fees.

 

7.              
This Agreement shall be governed by and construed in accordance with the Laws of the State of Nevada.

 

8.              
The individuals signing this Agreement warrant that they have full authority to bind their principals as parties to this
Agreement.

 

 

    	(1)

    	 

    

 

  

IN
WITNESS WHEREOF, the undersigned parties have executed this Agreement as of the date first above written.

 

 

	
        CHINA FRUITS CORPORATION

         

        /s/ Chen, Quan Long

        Chen, Quan Long

        President

         

         
	 
	 	 
	CREDITORS:	 
	
         

         

         

        /s/ Tan, Mei

        

        Tan, Mei
	
         

         

         

        /s/ Chen, Ling Hua

        

        Chen, Ling Hua

	
         

         

         

        /s/ Huang, Chun Feng

        

        Huang, Chun Feng
	
         

         

 

        

/s/ Xi, Cun Xing

        

        

        Xi, Cun Xing

	
         

         

         

        /s/ Feng, Bin

        

        Feng, Bin
	
         

         

         

        /s/ Chen, Gui Fen

        

        Chen, Gui Fen

	
         

         

         

        /s/ Cui, Wen Ming

        

        Cui, Wen Ming
	 

 

 

 

 

 

    	(2)

    	 

    
 

 

Exhibit A

 

 

	
         

        Shareholder Name

         
	
         

        Address
	
         

        Amounts due as of December 31, 2009

         

	
         

        

        Tan, Mei
	
         

        

        3 LvYou Lane, QinCheng Town

        NanFeng County, FuZhou City, JiangXi, China

         
	                 $137,424
	
         

        

        Chen, Ling Hua
	
         

        

        163 ShengLi Rd, QinCheng Town

        NanFeng County, FuZhou City, JiangXi, China

         
	                   $36,097
	
         

        

        Huang, Chun Feng

         
	
         

        

        1ChengQiangRd,QinChengTown,NanFengCounty,

        FuZhouCity,JiangXi,China
	                 $108,181
	
         

        

        Xi, Cun Xing

         
	
         

        

        13LuoKengXiaoZu,NanZhouVillage,DongPing

        Township,NanFengCounty,FuZhouCity,JiangXi,China
	                   $34,641
	
         

        

        Feng, Bin

         
	
         

        

        602Room,4Entrance,E5Building,JingDongAnJuXiaoQu,BeiJing
        East Rd,

        QingShanHu District,NanChangCity,

        JiangXi,China
	                     $6,684
	
         

        

        Chen, Gui Fen

         
	
         

        

        10ChengQiangRd,QinCheng Town,

        NanFeng County,JiangXi,China
	                     $6,690
	
         

        

        Cui, Wen Ming
	
         

        

        3 LvYou Lane, QinCheng Town

        NanFeng County, FuZhou City, JiangXi, China

         
	                     $5,429EX-10.1

Assignment and Assumption

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective
Date set forth below and is entered into by and between the Assignor identified in item 1 below
(the “Assignor”) and the Assignee identified in item 2 below (the “Assignee”). Capitalized terms
used but not defined herein shall have the meanings given to them in the Credi Agreement identified
below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by
the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby
agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as
if set forth herein in full.

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the
Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to
and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the
Effective Date inserted by the Agent as contemplated below (i) all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any other documents or
instruments delivered pursuant thereto to the extent related to the amount and percentage interest
identified below of all of such outstanding rights and obligations of the Assignor under the
respective facilities identified below (including without limitation any letters of credit,
guarantees, and swingline loans included in such facilities) and (ii) to the extent permitted to be
assigned under applicable law, all claims, suits, causes of action and any other right of the
Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant
thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including, but not limited to, contract claims, tort claims, malpractice claims,
statutory claims and all other claims at law or in equity related to the rights and obligations
sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the
Assignor to the Assignee pursuant to clauses (i) and (ii) above being referred to herein
collectively as the “Assigned Interest”). Each such sale and assignment is without recourse to the
Assignor and, except as expressly provided in this Assignment and Assumption, without
representation or warranty by the Assignor.

	 	 	 	 	 	 	 
	 	1.	 	 	Assignor:KeyBank National Association
	 	2.	 	 	Assignee:RBS Citizens, N.A. dba Charter One
	3.

4.

5.
	 	Borrower:

Agent:

Credit Agreement:
	 	Grubb & Ellis Healthcare REIT II Holdings, LP

KeyBank National Association, as the Agent under the Credit Agreement

The Credit Agreement dated as of June 30, 2011 among the Borrower, the Lenders parties thereto, and

KeyBank National Association, as Agent and as Lender

	6.	 	Assigned Interest:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Aggregate Amount of	 	 	 	 	 	 
	 	 	 	 	 	 	Commitment/	 	Amount of	 	 	 	 
	 	 	 	 	 	 	Loans for all	 	Commitment/	 	Percentage Assigned	 	 
	Assignor	 	Assignee	 	Facility Assigned	 	Lenders	 	Loans Assigned	 	of Commitment/Loans	 	CUSIP Number
	KeyBank National

Association

	 	RBS Citizens, N.A.

dba Charter One
	 	Revolving Credit

Commitment
	 	$71,500,000

	 	$35,750,000

	 	50%

	 	N/A

	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

Effective Date: October 6, 2011

The terms set forth in this Assignment and Assumption are hereby agreed to:

ASSIGNEE

RBS Citizens, N.A. dba Charter One

By: /s/ Michelle L. Lyles

Name: Michelle L. Lyles

Title: Assistant Vice President

ASSIGNOR

KeyBank National Association

By: /s/ Bellini Lacey

Name: Bellini Lacey

Title: Vice President

Accepted:

	 	 	KeyBank National Association, as

Agent

By: /s/ Bellini Lacey

Title: Vice President

1

ANNEX 1

Credit Agreement Dated as of June 30, 2011

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

1. Representations and Warranties.

1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any
lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the
transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any
statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial
condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in
respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its
Subsidiaries or Affiliates or any other Person of any of their respective obligations under any
Loan Document.

1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and to become a Lender under the
Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 10.13 of the
Credit Agreement (subject to such consents, if any, as may be required under Section 10.13 of the
Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of
the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have
the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to
acquire assets of the type represented by the Assigned Interest and either it, or the person
exercising discretion in making its decision to acquire the Assigned Interest, is experienced in
acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received
or has been accorded the opportunity to receive copies of the most recent financial statements
delivered pursuant to Sections 5.1 and 5..2 thereof, as applicable, and such other documents and
information as it deems appropriate to make its own credit analysis and decision to enter into this
Assignment and Assumption and to purchase the Assigned Interest, (vi) it has, independently and
without reliance upon the Agent or any other Lender and based on such documents and information as
it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment
and Assumption and to purchase the Assigned Interest, and (vii) if it is a Non-U.S. citizen,
attached to the Assignment and Assumption is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b)
agrees that (i) it will, independently and without reliance on the Agent, the Assignor or any other
Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Loan Documents,
and (ii) it will perform in accordance with their terms all of the obligations which by the terms
of the Loan Documents are required to be performed by it as a Lender.

2. Payments. From and after the Effective Date, the Agent shall make all payments in
respect of the Assigned Interest (including payments of principal, interest, fees and other
amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to
the Assignee for amounts which have accrued from and after the Effective Date.

3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to
the benefit of, the parties hereto and their respective successors and assigns. This Assignment
and Assumption may be executed in any number of counterparts, which together shall constitute one
instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this
Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York.

2

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