Document:

ex4_5.htm

Exhibit 4.5

 

UNSECURED PROMISSORY NOTE

 

	
$9,504 (Loan from The Auction Coach, LLC)

	
August 25, 2010

 

Las Vegas, Nevada

 

 

FOR VALUE RECEIVED, Penny Auction Solutions, Inc., a Nevada Corporation (the “Maker”) herby promises to pay to the order of The Auction Coach.com, LLC located at 6914 West Sample Road, Coral Springs, FL the principal sum of Nine Thousand Five Hundred and Four Dollars U.S. ($9,504) plus simple interest at the rate of 8% per annum, payable principal and all accrued interest in full on demand.

 

	
  

	
1.

	
Right of Prepayment. Maker has the right to prepay all or any portion of this Note at any time without penalty. A prepayment would require the Maker to nevertheless pay accrued interest as though this Note. Such prepayments shall be applied first to interest and then to principal.

 

	
  

	
2.

	
Default. Any of the following shall constitute a default by Maker hereunder:

 

	
  

	
(a)

	
The failure of Maker to make any payment of principal or interest required hereunder within 30 days of the demand date for such payment, as it may properly be extended pursuant to the terms of this Note; or

 

	
  

	
(b)

	
The failure of Maker to fully perform any other material covenants and agreements under this Note and continuance of such failure for period of 30 days after written notice of the default by Payee to the Maker.

 

Upon the occurrence of a default hereunder, Payee may, at its option, declare immediately due and payable the entire unpaid principal sum of this Note together with all accrued and unpaid interest owing at the time of such declaration pursuant to this Note.

	
  

	
3.

	
Note to Nonrecourse. In the event that Maker defaults on this Note, Payee shall look solely to Penny Auction Solutions, Inc. for repayment.

	
  

	
4.

	
Cost of Collections. Payee shall be entitled to collect reasonable attorney’s fees and costs from Maker, as well as other costs and expenses reasonably incurred, in curing any default or attempting collection of any payment due on this Note.

	
  

	
5.

	
Inspection Rights. Payee, individually or through its agent, shall have the right, upon reasonable notice and at its expense, to review and inspect the books and records of Maker at Maker’s office during reasonable business hours.

	
  

	
6.

	
Restriction on Transfer. This Note shall be subject to the following restrictions:

 

1

  

  

 

This Note may not be sold, assigned, transferred or otherwise disposed of to any person or entity unless agreed upon in writing by the Maker and the Payee.

	
  

	
7.

	
Payment. This Note shall be payable in lawful money of the United States.

	
  

	
8.

	
Place of Payment. All payments on this Note are to be made or given to The Auction Coach, LLC at the address provided to the Maker or such other place as Payee may from time to time direct by written notice to Maker.

	
  

	
9.

	
Waiver. Maker, for itself and its successors, transfers and assigns, waives presentment, dishonor, protest, notice of protest, demand for payment and dishonor in nonpayment of this Note, bringing of suit or diligence of taking any action to collect any sums owing hereunder or in proceeding against any of the rights and properties securing payment hereunder.

	
  

	
10.

	
Severability. If any provision of this Note or the application thereof to any persons or entities or circumstances shall, to any extent, be invalid or unenforceable, the remainder or this Note shall not be deemed affected thereby and every provision of this Note shall be valid and enforceable to the fullest extent permitted by law.

	
  

	
11.

	
No Partner. Payee shall not become or be deemed to be a partner or joint venturer with Maker by reason of any provision of this Note. Nothing herein shall constitute Maker and Payee as partners or joint venturers or require Payee to participate in or be responsible or liable for any costs, liabilities, expenses or losses of Maker.

	
  

	
12.

	
No Waiver. The failure to exercise any rights herein shall not constitute a waiver of the right to exercise the same or any other right at any subsequent time in respect of the same event or any other event.

	
  

	
13.

	
Governing Law. This Note shall be governed by and construed solely in accordance with the laws of the State of Nevada.

 

 

IN WITNESS WHEREOF, Maker has executed this Note as of the date first hereinabove written.

 

	
MAKER:

	 	
Penny Auction Solutions, Inc.

a Nevada Corporation

	  	 	  
	  	 	  
	  	 	
Micheal Holt, COO

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 PAYEE:	 	 By:	 
	 	 	 	
Corey Park, CEO- The Auction Coach, LLC

	 	 	 	 
	 	 	 

 

2ex4_6.htm

Exhibit 4.6

 

	  	
PROMISSORY NOTE

	
December 30, 2010

Denver, Co.

 

FOR VALUE RECEIVED from the undersigned loan provider, the undersigned borrower promises to pay to the principal sum of thirty six thousand dollars ($36,000.00) by March 30, 2010. The borrower also agrees to pay an additional $2,000 for every month the balance is overdue. In addition to signing on behalf of Penny Auction Solutions, Inc., by signing below, the borrower is also agreeing to personally guarantee full payment should the company default on the aforementioned loan / Promissory Note.

Each maker and endorser waives demand, protest and notice of maturity, non-payment or protest and all requirements necessary to hold them liable as makers and endorsers and, should litigation be necessary to enforce this note, each maker and endorser waives trial by jury and consents to the personal jurisdiction and venue of a court of subject matter jurisdiction located in the State of Colorado and County of Denver.

 

Each maker and endorser further agrees, jointly and severally, to pay all costs of collection, including a reasonable attorney's fee in case the principal of this note or any payment on the principal or any interest thereon is not paid at the respective maturity thereof, or in case it becomes necessary to protect the security hereof, whether suit be brought or not.

 

Each maker and endorser hereby agrees that this note may be recorded.

This note is to be construed and enforced according to the laws of the State of Colorado; upon default in the payment of principal, the whole sum of principal remaining unpaid shall, at the option of the holder, become immediately due and payable and it shall accrue interest at the highest rate allowable by law, or, if no highest rate is otherwise indicated, at twenty (20%) percent per annum, from the date of default.

Default shall include, but shall not be limited to non-payment within ten (10) days from the due date set out herein.

Unless specifically disallowed by law, should litigation arise hereunder, service of process therefore may be obtained through certified mail, return receipt requested; the parties hereto waiving any and all rights they may have to object to the method by which service was perfected.

 

	  	  
	  	  
	
Loan Provider (Maker)

	  

 

	  	  
	
Promisor Signature (Corey Park CEO – Penny Auction Solutions, Inc.)EX-10.1

ASSIGNMENT OF PURCHASE AND SALE AGREEMENT

This Assignment of Purchase and Sale Agreement (the “Assignment”) is made as of the
31st day of January, 2011 (the “Effective Date”), by and between G&E HC REIT II MONUMENT
LTACH PORTFOLIO, LLC, a Delaware limited liability company (“Assignor” or “Purchaser”) and G&E HC
REIT II COLUMBIA LTACH, LLC, a Delaware limited liability company (“Assignee”).

W I T N E S S E T H:

WHEREAS, GRUBB & ELLIS EQUITY ADVIORS, LLC, a Delaware limited liability company (“GEEA”) and
WHITE OAKS REAL ESTATE INVESTMENTS OF GEORGIA, LLC, a Georgia limited liability company, WHITE OAKS
REAL ESTATE INVESTMENTS, LLC, a Missouri limited liability company, WHITE OAKS REAL ESTATE
INVESTMENTS OF JOPLIN, LLC, a Missouri limited liability company, and WHITE OAKS REAL ESTATE
INVESTMENTS OF COLUMBIA, LLC, a Missouri limited liability company, collectively referred to as
“Seller”, did enter into that certain Agreement for Purchase and Sale of Real Property dated June
18, 2010 (as amended, the “Contract”). (Capitalized terms used, but not otherwise defined herein,
shall have the meaning ascribed to them in the Contract);

WHEREAS, pursuant to that certain Assignment of Purchase and Sale Agreement by and between
GEEA and Assignor dated as of August 12, 2010, GEEA assigned the Contract to Assignor;

WHEREAS, the Contract is for the purchase and sale of certain property, including, but not
limited to, that certain real property commonly known as Landmark Medical Center in Columbia,
Missouri as is more particularly described in the Contract and defined therein as the “Columbia
Real Property”; the terms of the Contract are incorporated herein by this reference; and

WHEREAS, Assignor desires to assign all of its rights, title and interest in the Contract only
as relates to the Columbia Property subsequent to the date of this Assignment to Assignee, and
Assignee desires to take and assume all of Assignor’s rights, title and interest in the Contract
only as relates to the Columbia Property subsequent to the date of this Assignment.

NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereunto
agree as follows:

1. As of the date of this Assignment, Assignor hereby assigns and transfers unto Assignee all of
Assignor’s rights, title and interest to purchase the Columbia Property under the Contract as well
as the right to exercise and enforce all of the terms, covenants and conditions of the Contract
related to the Columbia Property.

2. Assignee hereby accepts, as of the date of this Assignment, the assignment and transfer of
Assignor’s rights, title and interest in and to the Contract only as related to the Columbia
Property (including, without limitation, any obligation to proceed to and effectuate Closing on the
Columbia Property under the Contract). With respect to the Columbia Property, Assignee hereby
assumes and agrees to be bound by all of the terms and conditions of the Contract from and after
the date of this Assignment, and Assignee represents and warrants that it will perform and observe
all the covenants and conditions therein contained on Assignor’s part to be performed and observed
which accrue after the date of this Assignment.

3. Effective upon the date of this Assignment, with respect to the Columbia Property, Assignee
shall be directly and primarily liable to Seller for all obligations arising under the Contract.

4. The Contract shall remain unmodified and in full force and effect and the same is hereby
ratified and confirmed by all parties.

[Signatures on following page]

1

IN WITNESS WHEREOF, the parties have hereunto set their hands the day and year first above
written.

ASSIGNOR

G&E HC REIT II MONUMENT LTACH PORTFOLIO, LLC,

a Delaware limited liability company

By: /s/ Jeffrey T. Hanson

Name: Jeffrey T. Hanson

Its: Authorized Signatory

ASSIGNEE

G&E HC REIT II COLUMBIA LTACH, LLC,

a Delaware limited liability company

	 	 	 
	By: /s/ Jeffrey T. Hanson

	Name:

	 	Jeffrey T. Hanson

Its: Authorized Signatory

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