Document:

EXHIBIT 10.1

 

ASSIGNMENT OF MEMBER’S LLC INTEREST

TOWER HOTELS FUND 2013 LLC 

 

This Assignment of Member’s
LLC Interest (this “Assignment”) is made and entered into effective as of December 31, 2015 (the “Effective
Date”) by and between Beechwood Properties, LLC, a Louisiana limited liability company (“Beechwood” or “Assignor”),
and RedHawk Land & Hospitality, LLC, a Louisiana limited liability company (“RedHawk” or “Assignee”).

 

RECITALS:

 

WHEREAS, Beechwood
is the owner of 280,000 Class A Units of fully paid, non-assessable units of LLC Interest (the “Units”) in Tower
Hotels Fund 2013 LLC, a Hawaii limited liability company (the “Company”);

 

WHEREAS, Beechwood
desires to sell all of its Units to RedHawk (the “Assigned Units”); and

 

WHEREAS, RedHawk
desires to purchase from Beechwood the Assigned Units on the terms and conditions set forth herein.

 

AGREEMENT:

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements contained herein and the payment of $1,000.00 and other valuable consideration
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.          Assignment
and Resignation. Effective as of the Effective Date, Beechwood hereby unconditionally and irrevocably sells, grants, transfers,
assigns, conveys and delivers, without any warranty whatsoever except as expressly provided for herein, but with full substitution
and subrogation in and to all the rights and actions of warranty which it has or may have against all preceding owners and vendors
to RedHawk, all of its right, title, and interest in and to the Assigned Units, free and clear of any and all liens, charges and
encumbrances.

 

2.          Acceptance
and Assumption. Effective as of the Effective Date RedHawk hereby accepts from Beechwood the Assigned Units, and agrees to
assume the duties, liabilities and obligations arising under or in connection with the Assigned Units on or after the Effective
Date, including but not limited to the duties, liabilities and the obligations arising under or in connection with the Tower Hotels
Fund 2013 LLC Operating Agreement dated effective as of December 17, 2013, as amended (the “LLC Operating Agreement”).
 

 

3.          Representations
and Warranties. Beechwood represents and warrants that: (i) it is the sole legal and beneficial owner of the Assigned
Units; (ii) it owns the Assigned Units free and clear of all liens, claims, charges and encumbrances; and (iii) it has
the full power and authority to transfer, assign, convey and deliver to RedHawk all of its right, title and interest in and to
such Assigned Units, subject only to the approval requirements set forth in Section 8.1 of the LLC Operating Agreement.         

 

4.          Future
Cooperation on Subsequent Documents. The parties agree to execute, acknowledge where necessary, and deliver unto the other
party all such other and additional instruments, notices, and other documents and to do all such other and further acts and things
as may be necessary more fully to grant, convey, bargain, sell, transfer and assign the rights, interests and property transferred
or intended so to be.

 

    	 	 	 

     

    

 

5.          
Successors and Assigns. This Assignment shall be binding upon, and shall inure to the benefit of, the parties hereto and their
successors and assigns. 

 

6.          Modification
and Waiver. No supplement, modification, waiver or termination of this Assignment or any provision hereof shall be binding
unless executed in writing by the parties to be bound thereby. No waiver of any provision of this Assignment shall constitute a
waiver of any other provision (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly
provided. 

 

7.          Severability.
If any term or other provision of this Assignment is invalid, illegal or incapable of being enforced by any rule of law or public
policy, all other conditions and provisions of this Assignment shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate
in good faith to modify this Assignment so as to effect the original intent of the parties as closely as possible in an acceptable
manner to the end that the transactions contemplated hereby are fulfilled to the greatest extent possible. 

 

8.          Governing
Law. This Assignment shall be governed by and construed in accordance with the laws of the State of Louisiana (without regard
to principles of conflict of laws).

 

9.          Counterparts.
This Assignment may be executed in multiple counterparts, each of which shall be deemed an original and all of which shall constitute
but one and the same instrument. This Assignment may be executed by facsimile
signature (including signatures in Adobe PDF or similar format) and delivery of an executed counterpart of a signature page
of this Assignment by facsimile or electronic transmission of a PDF file shall be effective delivery of a manually executed counterpart
of this Assignment.

 

IN WITNESS WHEREOF,
this Assignment of Membership’s LLC Interest has been executed by the parties below to be effective as of the Effective
Date

 

	 	ASSIGNOR:
	 	BEECHWOOD PROPERTIES, LLC
	 	 	 
	 	By:	/s/ G. Darcy Klug
	 	 	G. Darcy Klug, Manager
	 	 	 
	 	ASSIGNEE:
	 	REDHAWK LAND & HOSPITALITY, LLC
	 	 	 
	 	By:	/s/ Daniel J. Schreiber
	 	 	Daniel J. Schreiber, Manager

  

    	 	 	 

     

    

 

CONSENT TO ASSIGNMENT

 

Effective as of the effective
date of the foregoing Assignment and pursuant to the provisions of Section 8.1 of the LLC Operating Agreement, the undersigned
Supermajority of the Members and the Manager of the Company hereby consent to the foregoing Assignment and do hereby classify Assignee
as a Member pursuant to and as defined in the LLC Operating Agreement.

 

	 	MANAGER:
	 	 
	 	TOWER DEVELOPMENT, INC., MANAGER
	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	MEMBERS:
	 	 
	 	
        MICHAEL V. PAULIN RLT 

	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	
        SCHREIBER FAMILY TRUST 

	 	 
	 	/s/ Daniel J. Schreiber 
	 	
        DANIEL J. SCHREIBER 

	 	 
	 	BANADAR INVESTMENTS
	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	/s/ Peter Hershorn
	 	
        PETER HERSHORN 

	 	 
	 	/s/ Maurice W. Nicholson 
	 	MAURICE W. NICHOLSON

 

    	 	 	 

     

    

 

	 	TYRIE LEE JENKINS TRUST
	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	
        AIDEN HOLDINGS 

	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	LIFESTYLE RETAIL PROPERTIES LLC
	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	/s/ Yee Shum Severson 
	 	YEE SHUM SEVERSONExhibit 10.2

 

STATE OF LOUISIANA

PARISH OF LAFAYETTE

 

ACT OF SALE 

 

BE IT KNOWN that on the
date set forth below, but effective for all purposes as of November ___, 2015 (the “Effective Date”) before me, Notary
Public, duly commissioned and qualified in the State and Parish aforesaid, and in the presence of the undersigned witnesses, personally
came and appeared:

 

BEECHWOOD PROPERTIES, LLC (last
four digits of Tax Id No. 7341), a Louisiana limited liability company domiciled at 219 Chemin Metairie Road, Youngsville, Louisiana
70592, represented herein by G. Darcy Klug, its sole Manager (hereinafter referred to as “Seller”)

 

who declared that for and in consideration
of THREE HUNDRED THOUSAND AND NO/100 DOLLARS ($300,000.00), (the “Purchase Price”) the receipt and sufficiency
of which is hereby acknowledged, payable as set forth below, Seller does hereby sell and deliver with full warranty of title and
with subrogation to all rights and actions of warranty Seller may have against any predecessors in title, unto:

 

REDHAWK LAND & HOSPITALITY,
LLC, (last four digits of Tax ID No. 4879) whose mailing address is 219 Chemin Metairie Road, Youngsville, Louisiana 70592,
represented herein by G. Darcy Klug, its sole Manager (hereinafter referred to as “Purchaser”),

 

the following described property, to-wit:

 

That certain parcel of ground, together
with all buildings and improvements thereon and the component parts thereof, and all rights, ways, privileges, servitudes, advantages
and appurtenances thereon, and thereunto appertaining, being known and designated as TRACT 4, LANEUVELLE-HOLIDAY, PHASE I, a
Subdivision, situated in the Parish of Lafayette, Louisiana. Said parcel has a frontage of 100 feet on LaNeuvelle Road, No. 2,
by a depth between parallel lines of 120 feet and has the further dimensions and boundaries as are shown on that certain plat of
survey prepared by Gerald E. Reaux dated April 26, 1978, a copy of which is attached to Entry No. 1978-15603 of the Conveyance
Records of Lafayette Parish, Louisiana, which plat is made a part hereof by reference thereto (the “Property”).

 

The Property bears the municipal
address of 219 Chemin Metairie Road, Youngsville, Louisiana 70592.

 

Being a portion of the property acquired
by Beechwood Properties, LLC by Dation En Paiement dated March 4, 2011, recorded March 7, 2011 under Entry No. 2011-00008405 in
the conveyance records of Lafayette Parish, Louisiana.

 

The Purchase Price is payable
as follows: Purchaser has, as of the Effective Date, caused to have issued and delivered to Seller 300 shares (par value of $1,000
per share and stated value equal to $1,000 per share) of Series A Preferred Stock of Redhawk Holdings Corp.

 

The Seller
hereby waives any vendor's lien it may have, and any other right it may have to rescind this sale in whole or in part for inadequate
consideration or any other reason.

 

All agreements, stipulations
and obligations assumed herein shall inure to the benefit of and be binding upon the heirs, successors and assigns of the respective
parties. Purchaser’s heirs and assigns shall have and hold the described property in full ownership forever.

 

    1 

     

    

  

Seller and Purchaser agree
that the improvements and all other items on the property are transferred by Seller to Purchaser on an “AS IS” and
“WHERE IS” basis, in their present condition and that these are being transferred by Seller to Purchaser without any
warranty whatsoever on the part of the Seller, except as to title. Purchaser hereby expressly waives all warranties as to the property
herein sold, whether expressed or implied by this or any other writing or representation, as well as any warranties provided by
law. This waiver applies to all warranties of any nature, express or implied, including without limitation warranties of fitness
for a particular purpose, or otherwise, except merchantability of title. Purchaser understands that under Articles 2520 through
2548 of the Louisiana Civil Code and other provisions of law, this sale would ordinarily include a warranty, implied by Louisiana,
against certain defects in the property sold. Purchaser expressly waives any and all such warranties, with respect to all defects,
whether apparent of latent, visible or not visible and regardless of whether Purchaser is presently aware of such defects. This
waiver of warranty extends to all defects, even if the defect or defects render the property absolutely useless, or so inconvenient
and imperfect that Purchaser would not have purchased it had it known of the defect. Purchaser also waives any rights Purchaser
might have or ever have relative to this sale: a) to any redhibitory action; b) to the return all or any portion of the purchase
price; c) to rescind or revoke the sale; or d) to have Seller repair or replace all or any part of the property conveyed. Seller,
however, does assign and transfer to Purchaser and rights of warranty that Seller might have, if any, against others pertaining
thereto. Purchaser hereby acknowledges that Purchaser has read and understands the foregoing waiver of warranty, that the waiver
has been pointed out and explained to Purchaser, and that questions or doubts Purchaser has concerning same have been answered
satisfactorily. Seller and Purchaser acknowledged and stipulate that the sales price was negotiated and agreed upon after consideration
of the waiver of warranty herein set forth.

 

Taxes for the current year
will be paid by Purchaser, but pro-rated between Seller and Purchaser as of the Effective Date. In accordance with La. R.S. 9:2721,
notice is given that the Purchaser is designated as the party to whom all property tax and assessment notices are to be mailed,
said notices to be sent to the address shown above for said Purchaser.

 

All parties signing herein
have declared themselves to be of full legal capacity, and have declared that the name, marital status, and address of each is
correct, as set forth above.

 

All parties to this act
confirm, acknowledge, and agree that the notary public before whom the Seller and Purchaser execute this act shall have no responsibility
or liability whatsoever of any nature, type, or kind, express or implied, for (1) obtaining mortgage, conveyance, tax and any and
all other researches and certifies, (2) examining title to the Property, (3) obtaining a title insurance policy insuring title
to the Property, or (4) obtaining a survey of the Property. This act shall become effective upon its execution by the last party
to execute this act.

 

THUS DONE AND SIGNED in
the City of Lafayette, Lafayette Parish, Louisiana, in the presence of the undersigned competent witnesses and me, Notary, on this
_____ day of November, 2015.

 

	WITNESSES:	 	BEECHWOOD PROPERTIES, LLC
	 	 	 	 
	 	 	 	/s/ G. Darcy Klug
	Print:	 	 	G. DARCY KLUG, MANAGER
	 	 	 	 
	 	 	 	REDHAWK LAND & HOSPITALITY, LLC
	 	 	 	/s/ G. Darcy Klug
	Print:	 	 	G. DARCY KLUG, 
	 	 	 	MANAGER

 

___________________________________

NOTARY PUBLIC

Print Name: _________________________________

State Bar No./Notary Identification No.: ________________

Commission expires: ______________________

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