Document:

EXHIBIT 10.7

 

ASSIGNMENT OF AGREEMENTS,

PERMITS AND CONTRACTS

 

 

THIS ASSIGNMENT OF AGREEMENTS,
PERMITS AND CONTRACTS (“Assignment”) is made as of the 5th day April, 2012, by DT STONE RIDGE, LLC,
a South Carolina limited liability company, having its principal place of business at 11132 Ventura Boulevard, Suite 415, Studio
City, California 91604 (“Borrower”), to PRIP STONE RIDGE, LLC, a Delaware limited liability company, having
an address, c/o Paladin Realty Partners, LLC, at 10880 Wilshire Boulevard, Suite 1400, Los Angeles, California 90024 (“Lender”).

 

RECITALS:

 

A.Borrower
by its promissory note of even date herewith given to Lender (the note together with all extensions, renewals, modifications, substitutions
and amendments thereof shall collectively be referred to as the “Note”) is indebted to Lender in the principal sum
of $3,500,000 in lawful money of the United States of America, with interest from the date thereof at the rates set forth in the
Note (the indebtedness evidenced by the Note, together with such interest accrued thereon, shall collectively be referred to as
the “Loan”), principal and interest to be payable in accordance with the terms and conditions provided in the Note.

 

B.The
Loan is secured by, among other things, the Security Instrument (as defined in the Note), which grants Lender a first lien on the
property encumbered thereby (the “Property”).

 

C.Lender
was unwilling to make the Loan to Borrower unless Borrower in the manner hereinafter set forth assigned to Lender as additional
security for the payment of the Loan and the observance and performance by Borrower of the terms, covenants and conditions of the
Note, the Security Instrument and the other Loan Documents (as defined in the Note) on the part of Borrower to be observed and
performed, all of Borrower’s right, title and interest in and to all permits, license agreements, operating contracts, licenses
(including liquor licenses, to the extent assignable by Borrower), franchise agreements and all management, service, supply and
maintenance contracts and agreements, and any other agreements, permits or contracts of any nature whatsoever now or hereafter
obtained or entered into by Borrower with respect to the ownership, operation, maintenance and administration of the Property (collectively,
the “Agreements”).

 

AGREEMENT:

 

For good and valuable consideration the parties hereto
agree as follows:

 

1.Assignment
of the Agreements. As additional collateral security for the Loan and the observance and performance by Borrower of the terms,
covenants and conditions of the Note, the Security Instrument and the other Loan Documents on the part of Borrower to be observed
or performed, Borrower hereby transfers, sets over and assigns to Lender all of Borrower’s right, title and interest in and
to the Agreements.

 

2.Borrower’s
Covenants. Borrower hereby covenants to Lender that during the term of this Assignment: (a) Borrower shall fulfill and perform
each and every term, covenant and provision of the Agreements to be fulfilled or performed by Borrower thereunder, if any, (b)
Borrower shall, in the manner provided for in this Assignment, give prompt notice to Lender of any notice received by Borrower
under any of the Agreements, together with a complete copy of any such notice, (c) Borrower shall enforce, short of termination
thereof, the performance and observance of each and every term, covenant and provision of the Agreements to be performed or observed,
if any, and (d) Borrower shall not terminate or amend any of the terms or provisions of any of the Agreements, except as may be
permitted pursuant to the terms of the Agreements and done in the ordinary course of business, without the prior written consent
of Lender, which consent may be withheld by Lender in Lender’s sole discretion. In the event Borrower has terminated an Agreement,
Borrower agrees to enter into another Agreement containing terms and conditions no less favorable to Borrower than the terminated
Agreement. Borrower shall notify Lender in the event Borrower does not replace the terminated Agreement.

 

 

    	

    	 

    
 

 

 

3.Governing
Law. This Assignment shall be deemed to be governed, construed, applied and enforced in accordance with the laws of the state
in which the Property is located and the applicable laws of the United States of America.

 

4.Notices.
All notices or other written communications hereunder shall be deemed to have been properly given if given in the same manner provided
for the delivery of notices and other written communications in the Security Instrument.

 

5.No
Oral Change. This Assignment, and any provisions hereof, may not be modified, amended, waived, extended, changed, discharged
or terminated orally or by any act or failure to act on the part of Borrower or Lender, but only by an agreement in writing signed
by the party against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought.

 

6.Liability.
If Borrower consists of more than one person, the obligations and liabilities of each such person hereunder shall be joint and
several. This Assignment shall be binding upon and inure to the benefit of Borrower and Lender’, and their respective
successors and assigns forever.

 

7.Inapplicable
Provisions. If any term, covenant or condition of this Assignment is held to be invalid, illegal or unenforceable in any respect,
this Assignment shall be construed without such provision.

 

8.Headings,
etc. The headings and captions of various paragraphs of this Assignment are for convenience of reference only and are not to
be construed as defining or limiting, in any way, the scope or intent of the provisions hereof

 

9.Duplicate
Originals; Counterparts. This Assignment may be executed in any number of duplicate originals and each duplicate original shall
be deemed to be an original. This Assignment may be executed in several counterparts, each of which counterparts shall be deemed
an original instrument and all of which together shall constitute a single Assignment.

 

10.Number
and Gender. Whenever the context may require, any pronouns used herein shall include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa.

 

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11.Exculpation.
Borrower’s obligations under this Assignment are subject to the provisions of Article 13 of the Security Instrument.

 

12.Miscellaneous.
Wherever pursuant to this Assignment (i) Lender exercises any right given to it to approve or disapprove, (ii) any arrangement
or term is to be satisfactory to Lender, or (iii) any other decision or determination is to be made by Lender, the decision of
Lender to approve or disapprove, all decisions that arrangements or terms are satisfactory or not satisfactory and all other decisions
and determinations made by Lender, shall be in the sole and absolute discretion of Lender and shall be final and conclusive, except
as may be otherwise expressly and specifically provided herein.

 

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IN WITNESS WHEREOF the
undersigned have executed this Assignment as of the date and year first written above.

 

DT STONE RIDGE, LLC,

a South Carolina limited liability company

 

By:DT Columbia SC Management, LLC,

a Delaware limited liability company

Its Operating Member

 

By:_________________________

Name:_________________________

Its:_________________________

 

 

    	-4-Exhibit 10.8

 

 

THIS WARRANT AND THE SHARES OF COMMON
STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT (THE “SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933 (THE “SECURITIES ACT”) OR UNDER ANY STATE SECURITIES LAWS (“BLUE SKY LAWS”). NO TRANSFER, SALE, ASSIGNMENT,
PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THE SECURITIES OR ANY INTEREST THEREIN MAY BE MADE EXCEPT (A) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE BLUE SKY LAWS OR (B) IF THE COMPANY HAS BEEN FURNISHED
WITH AN OPINION OF COUNSEL FOR THE HOLDER, WHICH OPINION AND COUNSEL WILL BE REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT
THAT NO REGISTRATION IS REQUIRED BECAUSE OF THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE
BLUE SKY LAWS.

 

WARRANT

 

To Purchase _______ Shares of Common
Stock

of

DOUBLE EAGLE HOLDINGS, LTD.

 

EXERCISABLE ON OR BEFORE, AND VOID AFTER

5:00 P.M. EASTERN TIME ON __________, 2016
(Five years from issuance)

 

THIS CERTIFIES THAT,
for good and valuable consideration, __________________ (“Holder”), or its registered assigns, is entitled to
subscribe for and purchase from DOUBLE EAGLE HOLDINGS, LTD., a Nevada corporation (the “Company”), at any time
after _____________, 2011, to and including ______________, 2016, _____________ (____) fully paid and non-assessable shares of
the Common Stock of the Company (“Shares”) at the price of $0.12 per Share (the “Warrant Exercise Price”),
subject to the anti-dilution provisions of this Warrant.

 

The Shares that may
be acquired upon exercise of this Warrant are sometimes referred to herein as the “Warrant Shares.” As used
herein, the term “Holder” includes any party who acquires all or a part of this Warrant as a registered transferee
of Holder, or any record holder or holders of the Warrant Shares issued upon exercise, whether in whole or in part, of the Warrant.
The term “Shares” means the common stock, par value $0.001 per share, of the Company, and will also include
any capital stock of any class of the Company hereafter authorized which will not be limited to a fixed sum or percentage in respect
of the rights of the holders thereof to participate in dividends or in the distribution of assets upon the voluntary or involuntary
liquidation, dissolution, or winding up of the Company. The term “Convertible Securities” means any stock or
other securities convertible into, or exchangeable for, Shares.

 

 

    	

    	 

    

 

This Warrant is subject
to the following provisions, terms and conditions:

 

1.Exercise;
Transferability.

 

(a)The rights
represented by this Warrant may be exercised by the Holder hereof, in whole or in part (but not as to a fractional Share), by written
notice of exercise (in the form attached hereto) delivered to the Company at the principal office of the Company prior to the expiration
of this Warrant and accompanied or preceded by the surrender of this Warrant along with a check in payment of the Warrant Exercise
Price for such shares.

 

(b)Notwithstanding
anything contained herein to the contrary contained herein then the Holder may, in its sole discretion, exercise this Warrant in
whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise in
payment of the Warrant Exercise Price, elect instead to receive upon such exercise the “Net Number” of Shares
determined according to the following formula (a “Cashless Exercise”):

 

Net Number = (A
x B) - (A x C)

      B

 

For purposes of the
foregoing formula:

 

A= the total number of Shares with
respect to which this Warrant is then being exercised.

 

B= as applicable: (i) the closing
sale price of the Shares on the Trading Day immediately preceding the date of the applicable exercise notice if such exercise notice
is (1) both executed and delivered pursuant to Section 1(a) hereof on a day that is not a Trading Day or (2) both executed
and delivered pursuant to Section 1(a) hereof on a Trading Day prior to the opening of “regular trading hours”
(as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) the bid
price of the Shares as of the time of the Holder’s execution of the applicable exercise notice if such exercise notice is
executed during regular trading hours on a Trading Day and is delivered within two (2) hours thereafter pursuant to Section
1(a) hereof or (iii) the closing sale price of the Shares on the date of the applicable Exercise Notice if the date of such
Exercise Notice is a Trading Day and such Exercise Notice is both executed and delivered pursuant to Section 1(a) hereof
after the close of “regular trading hours” on such Trading Day.

 

C= the
Exercise Price then in effect for the applicable Shares at the time of such exercise.

 

“Trading
Day” shall mean a day on which the New York Stock Exchange is open for trades.

 

2.Exchange
and Replacement. Subject to Sections 1 and 7 hereof, this Warrant is exchangeable upon the surrender
hereof by the Holder to the Company at its office for new Warrants of like tenor and date representing in the aggregate the right
to purchase the number of Warrant Shares purchasable hereunder, each of such new Warrants to represent the right to purchase such
number of Warrant Shares (not to exceed the aggregate total number purchasable hereunder) as will be designated by the Holder at
the time of such surrender. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction,
or mutilation of this Warrant, and, in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to
it, and upon surrender and cancellation of this Warrant, if mutilated, the Company will make and deliver a new Warrant of like
tenor, in lieu of this Warrant. This Warrant will be promptly canceled by the Company upon the surrender hereof in connection with
any exchange or replacement. The Company will pay all expenses, taxes (other than stock transfer taxes), and other charges payable
in connection with the preparation, execution, and delivery of Warrants pursuant to this Section 2.

 

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3.Issuance
of the Warrant Shares.

 

(a)The Company
agrees that the Warrant Shares purchased upon exercise of this Warrant will be and are deemed to be issued to the Holder as of
the close of business on the date on which this Warrant will have been surrendered and the payment made for such Warrant Shares
as aforesaid. Subject to the provisions of paragraph (b) of this Section 3, certificates for the Warrant Shares so
purchased will be delivered to the Holder within a reasonable time, not exceeding fifteen (15) days after the rights represented
by this Warrant will have been so exercised, and, unless this Warrant has expired, a new Warrant representing the right to purchase
the number of Warrant Shares, if any, with respect to which this Warrant will not then have been exercised will also be delivered
to the Holder within such time.

 

(b)Notwithstanding
the foregoing, however, the Company will not be required to deliver any certificate for Warrant Shares upon exercise of this Warrant
except in accordance with registration under or exemptions from the applicable securities registration requirements under the Securities
Act or applicable Blue Sky Laws. Nothing herein, however, will obligate the Company to effect registrations under the Securities
Act or applicable Blue Sky Laws. The Holder agrees to execute such documents and make such representations, warranties, and agreements
as may be required solely to comply with the exemptions relied upon by the Company for the issuance of the Warrant Shares.

 

4.Covenants
of the Company. The Company covenants and agrees that all Warrant Shares will, upon issuance, be duly authorized and issued,
fully paid, non-assessable and free from all taxes, liens and charges with respect to the issue thereof. The Company further covenants
and agrees that during the period within which the rights represented by this Warrant may be exercised, the Company will at all
times have authorized and reserved for the purpose of issue or transfer upon exercise of the subscription rights evidenced by this
Warrant a sufficient number of Shares to provide for the exercise of the rights represented by this Warrant.

 

5.Anti-Dilution
Adjustments. The provisions of this Warrant are subject to adjustment as provided in this Section 5.

 

(a)The Warrant
Exercise Price will be adjusted from time to time such that in case the Company will hereafter:

 

(i)pay
any dividends on any class of stock of the Company payable in Shares or Convertible Securities;

 

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(ii)subdivide
its then outstanding Shares into a greater number of Shares; or

 

(iii)combine
outstanding Shares by reclassification or otherwise;

 

then, in any such event, the Warrant Exercise
Price in effect immediately prior to such event will (until adjusted again pursuant hereto) be adjusted immediately after such
event to a price (calculated to the nearest full cent) determined by dividing (A) the number of Shares outstanding immediately
prior to such event, multiplied by the then existing Warrant Exercise Price, by (B) the total number of Shares outstanding
immediately after such event (including in each case the maximum number of Shares issuable in respect of any Convertible Securities),
and the resulting quotient will be the adjusted Warrant Exercise Price per share. An adjustment made pursuant to this Section
5 will become effective immediately after the record date in the case of a dividend or distribution and will become effective
immediately after the effective date in the case of a subdivision, combination or reclassification. If, as a result of an adjustment
made pursuant to this Section 5, the Holder of any Warrant thereafter surrendered for exercise will become entitled to receive
shares of two or more classes of capital stock and other capital stock of the Company, the Board of Directors (whose determination
will be conclusive) will determine the allocation of the adjusted Warrant Exercise Price between or among shares of such classes
of capital stock. All calculations under this Section 5(a) will be made to the nearest cent or to the nearest 1/100 of a
share, as the case may be. In the event that at any time as a result of an adjustment made pursuant to this Section 5(a),
the holder of any Warrant thereafter surrendered for exercise will become entitled to receive any shares of capital stock of the
Company other than Shares, thereafter the Warrant Exercise Price of such other shares so receivable upon exercise of any Warrant
will be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions
with respect to Shares contained in this Section 5.

 

(b)Upon each
adjustment of the Warrant Exercise Price pursuant to Section 5(a), the Holder of each Warrant will thereafter (until
another such adjustment) be entitled to purchase at the adjusted Warrant Exercise Price the number of shares, calculated to the
nearest full share, obtained by multiplying the number of shares specified in such Warrant (as adjusted as a result of all adjustments
in the Warrant Exercise Price in effect prior to such adjustment) by the Warrant Exercise Price in effect prior to such adjustment
and dividing the product so obtained by the adjusted Warrant Exercise Price.

 

(c)In case
of any consolidation or merger to which the Company is a party other than a merger or consolidation in which the Company is the
continuing corporation, or in case of any sale or conveyance to another corporation of the property of the Company as an entirety
or substantially as an entirety, or in the case of any statutory exchange of securities with another corporation (including any
exchange effected in connection with a merger of a third corporation into the Company), there will be no adjustment under Section 5(a)
above but the Holder of each Warrant then outstanding will have the right thereafter to convert such Warrant into the kind and
amount of shares of capital stock and other securities and property which he would have owned or have been entitled to receive
immediately after such consolidation, merger, statutory exchange, sale, or conveyance had such Warrant been converted immediately
prior to the effective date of such consolidation, merger, statutory exchange, sale, or conveyance and in any such case, if necessary,
appropriate adjustment will be made in the application of the provisions set forth in this Section 5 with respect to the
rights and interests thereafter of any Holders of the Warrant, to the end that the provisions set forth in this Section 5
will thereafter correspondingly be made applicable, as nearly as may reasonably be, in relation to any shares of stock and other
securities and property thereafter deliverable on the exercise of the Warrant. The provisions of this Section 5(c) will
similarly apply to successive consolidations, mergers, statutory exchanges, sales or conveyances.

 

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(d)In the
event the Company shall, at any time, from time to time, issue or sell any additional Shares (otherwise than as provided in Section
5(a)) (“Additional Shares”), at a price per share less than the Warrant Exercise Price then in effect or
without consideration, then the Warrant Price upon each such issuance shall be reduced to a price equal to the consideration per
share paid for such Additional Shares; provided, however, this Section 5(d) shall not apply to the issuance
of shares upon the exercise, conversion or exchange of “Convertible Securities” (as hereinafter defined) outstanding
on the original issuance date of this Warrant or pursuant to any option or stock incentive plan adopted by the Company (a “Plan”).

 

(e)If the
Company in any manner issues or sells any Convertible Securities and the lowest price per share for which one Share is issuable
upon such conversion or exchange or exercise thereof is less than the Warrant Exercise Price, then such Share shall be deemed to
be outstanding and to have Securities for such price per Share and shall trigger the adjustment provisions of Section 5(d).
For the purposes of this Section 5(e), the “lowest price per Share issuable upon such conversion or exchange
or exercise” shall be equal to the sum of the lowest amounts of consideration (if any) received or receivable by the
Company with respect to any one Share upon the issuance or sale of the Convertible Securities and upon the conversion or exchange
or exercise of such Convertible Securities. No further adjustment of the Warrant Exercise Price shall be made upon the actual issuance
of such Share of Common Stock upon conversion or exchange or exercise of such Convertible Securities. “Convertible Securities”
means any stock or securities directly or indirectly convertible into or exercisable or exchangeable for Shares.

 

(f)Upon any
adjustment of the Warrant Exercise Price, then and in each such case, the Company will give written notice thereof, by First-class
mail, postage prepaid, addressed to the Holder as shown on the books of the Company, which notice will state the Warrant Exercise
Price resulting from such adjustment and the increase or decrease, if any, in the number of Shares purchasable at such price upon
the exercise of this Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation
is based.

 

6.No
Voting Rights. This Warrant will not entitle the Holder to any voting rights or other rights as a shareholder of the Company.

 

7.Notice
of Transfer of Warrant or Resale of the Warrant Shares. The Holder, by acceptance hereof, agrees to give written notice
to the Company before transferring this Warrant or transferring any Warrant Shares of such Holder’s intention to do so, describing
briefly the manner of any proposed transfer. Holder shall also furnish the Company with an opinion of counsel reasonably acceptable
to it to the effect that promptly upon receiving such written notice, the Company will present copies thereof to counsel to the
original purchaser of this Warrant. The proposed transfer may be effected without registration under the Securities Act or applicable
Blue Sky Laws. The prospective transferee or purchaser will also execute such documents and make such representations, warranties,
and agreements as may be required solely to comply with the exemptions relied upon by the Company for the transfer or disposition
of the Warrant or Warrant Shares.

 

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8.Fractional
Shares. Fractional shares will not be issued upon the exercise of this Warrant, but in any case where the holder would,
except for the provisions of this Section, be entitled under the terms hereof to receive a fractional share, the number of Shares
will be rounded up to the nearest whole Share.

 

9.Governing
Law. This Warrant shall be governed by the laws of the State of Nevada.

 

IN WITNESS WHEREOF,
the Company has caused this Warrant to be signed by its duly authorized officer and this Warrant to be dated ___________, 2011.

 

DOUBLE EAGLE HOLDINGS, LTD.

 

By:_______________________________

Name:

Title:

 

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SUBSCRIPTION FORM

(To be signed upon exercise of Warrant)

 

The undersigned, the
holder of the within Warrant, hereby irrevocably elects to exercise the purchase right represented by such Warrant for, and to
purchase thereunder, ____________ _________________ of the shares of Common Stock of Double Eagle Holdings, Ltd. to which such
Warrant relates and herewith makes payment of $__________________ therefore in cash or by certified check and requests that the
certificate for such shares be issued in the name of, and be delivered to, ______________________, the address for which is set
forth below the signature of the undersigned.

 

Dated: __________________

 

____________________________________

(Signature)

 

____________________________________

(Name)

 

____________________________________

(Address)

 

____________________________________

Social Security or Tax Ident. No.

 

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ASSIGNMENT FORM

(To be signed upon authorized transfer
of Warrant)

 

FOR VALUE RECEIVED,
the undersigned hereby sells, assigns, and transfers unto ______________________________ the right to purchase ____________ shares
of Common Stock of Double Eagle Holdings, Ltd. to which the within Warrant relates and appoints ___________________ attorney, to
transfer said right on the books of ________________ with full power of substitution in the premises.

 

Dated: __________________

 

____________________________________

(Signature)

 

____________________________________

(Name)

 

____________________________________

(Address)

 

____________________________________

Social Security or Tax Ident. No.

 

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