Document:

f8k06290710xiii_speedhaul.htm

    
      Exhibit
        10.13

      

      AMENDED
        AND RESTATED EQUITY PLEDGE AGREEMENT

      by
        and among

      SPEEDHAUL
        HOLDINGS, INC.

      GOLD
        HORSE INTERNATIONAL, INC.

      GLOBAL
        RISE INTERNATIONAL LIMITED

      INNER
        MONGOLIA JIN MA REAL ESTATE DEVELOPMENT COMPANY LIMITED (“IMJM REAL
        ESTATE”)

      and

      SHAREHOLDERS
        OF IMJM REAL ESTATE

      (English
        Translation)

       

      This
        Amended and Restated Equity Pledge Agreement (hereinafter this
“Agreement”) is dated June 29, 2007,  and is entered into in
        Hohhot, China by and among Speedhaul Holdings, Inc. (OTCBB: SPEH)
        (“Speedhaul”), Gold Horse International, Inc. a company incorporated
        under the laws of the State of Nevada, the United States (“Gold Horse”),
        Global Rise International Limited, a limited liability company organized
        under
        the laws of the Cayman Islands and wholly-owned subsidiary of Gold Horse
        (“Global Rise” or “Pledgee”), Inner Mongolia Jin Ma Real Estate
        Development Company Limited, a limited liability company organized under
        the
        laws of the PRC (“IMJM Real Estate”), and the shareholders of IMJM Real
        Estate (“Pledgors”). The parties to this Agreement are referred to
        collectively in this Agreement as the “Parties”.

       

      RECITALS

       A.           Speedhaul
        is a public reporting corporation incorporated under the laws of the State
        of
        New Jersey, the United States.

      B.           Gold
        Horse is a Nevada corporation and wholly-owned subsidiary of Speedhaul, pursuant
        to a share exchange agreement under which the shareholders of Gold Horse
        and
        their assignees acquired 97% of the issued and outstanding shares of Speedhaul
        (the “Transaction”).

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      C.           Global
        Rise is a wholly owned subsidiary of Gold Horse.

      D.           IMJM
        Real Estate is a company incorporated in Inner Mongolia, China, and is engaged
        in real estate development business (the “Business”);

      E.           The
        Pledgors collectively own over 100% of the equity interests of IMJM Real
        Estate.

      F.           Gold
        Horse and  IMJM Real Estate had previously executed a Consulting Services
        Agreement dated August 31, 2006 (hereinafter “Consulting Services
        Agreement” or “Services Agreement”), based on which  IMJM Real
        Estate shall pay consulting and service fees (hereinafter the “Consulting
        Services Fees” or “Services Fees”) to Global Rise for offering
        consulting and related services.

      G.           In
        order to ensure that  IMJM Real Estate would perform its obligations under
        the Consulting Services Agreement, and in order to provide an additional
        mechanism for Gold Horse to enforce its rights to collect the Consulting
        Services Fees from  IMJM Real Estate, the Pledgors had executed a Pledge
        Agreement, dated August 31, 2006, under which the Pledgors had agreed to
        pledge
        all their equity interest in  IMJM Real Estate as security for the
        performance of the obligations of  IMJM Real Estate under the Consulting
        Services Agreement and the payment of Consulting Services Fees under such
        agreement.

      H.           In
        connection with the Transaction, the parties wish to amend and restate the
        August 31, 2006 Pledge Agreement, which shall be amended and restated in
        its
        entirety in the form of this Agreement.

      

      NOW
        THEREFORE, Speedhaul, Pledgee, IMJM Real Estate and the Pledgors
        through mutual negotiations hereby enter into this Agreement based upon the
        following terms:

       

      1.           Definitions
        and Interpretation.  Unless otherwise provided in this Agreement,
        the following terms shall have the following meanings:

      1.1           “Pledge”
        refers to the full content of Section 2 hereunder.

      1.2           “Equity
        Interest” refers to all the equity interest in Jin Ma Real Estate legally
        held by the Pledgors.

       

      
        
          
          

        

        
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      1.3           “Term
        of Pledge” refers to the period provided for under Section 3.2
        hereunder.

      1.4           “Event
        of Default” refers to any event in accordance with Section 7.1
        hereunder.

      1.5           “Notice
        of Default” refers to the notice of default issued by Pledgee in accordance
        with this Agreement.

      

      2.           Pledge.  The
        Pledgors agree to pledge their equity interests in  IMJM Real Estate to
        Pledgee (“Pledged Collateral”) as a security for the obligations of 
IMJM Estate under the Consulting Services Agreement.  Pledge under
        this Agreement refers to the rights owned by Pledgee, who shall be entitled
        to a
        priority in receiving payment by the evaluation or proceeds from the auction
        or
        sale of the equity interest pledged by the Pledgors to Pledgee.

      3.           Term
        of Pledge.

      3.1           The
        Pledge shall take effect as of the date when the Pledge of the equity interest
        under this Agreement is recorded in the Register of Shareholder of  IMJM
        Real Estate.  The term of the Pledge shall last until two (2) years
        after the obligations under the Consulting Services Agreement are
        fulfilled.

      3.2           During
        the term of the Pledge, Pledgee shall be entitled to vote, control, sell,
        or
        dispose of the pledged assets in accordance with this Agreement in the event
        that Pledgors do not perform their obligation under the Consulting Services
        Agreement and  IMJM Real Estate fails to pay the Consulting Service Fees in
        accordance with the Consulting Services Agreement.

      3.3           During
        the term of the Pledge, Pledgee shall be entitled to collect any and all
        dividends declared or paid in connection with the equity interest.

      

      
        	
                4.  

              	
                Pledge
                  Procedure and Registration

              

      

      4.1           The
        Pledge under this Agreement shall be recorded in the Register of Shareholders
        of  IMJM Real Estate. The Pledgors shall, within 10 days after the date of
        this Agreement, initiate the registration procedures with Beijing Administration
        for Industry and Commerce concerning the Pledge.

      

      
        
          
          

        

        
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      5.           Representation
        and Warranties of Pledgors.

      5.1           The
        Pledgors are the legal owners of the equity interest pledged.

      5.2           The
        Pledgors have not pledged the equity interest to any other party, and or
        the
        equity interest is not encumbered to any other person except for
        Pledgee.

      

      6.           Covenants
        of Pledgors.

      6.1           During
        the effective term of this Agreement, the Pledgors promise to Pledgee for
        its
        benefit that the Pledgors shall:

      6.1.1  Not
        transfer or assign the equity interest, create or permit to create any pledges
        which may have an adverse effect on the rights or benefits of Pledgee without
        prior written consent from Pledgee.

      6.1.2  Comply
        with and implement laws and regulations with respect to the pledge of rights;
        present to Pledgee the notices, orders or suggestions with respect to the
        Pledge
        issued or made by the competent authority within five (5) days upon receiving
        such notices, orders or suggestions; and comply with such notices, orders
        or
        suggestions; or object to the foregoing matters at the reasonable request
        of
        Pledgee or with consent from Pledgee.

      6.1.3  Timely
        notify Pledgee of any events or any received notices which may affect the
        Pledgor’s equity interest or any part of its right, and any events or any
        received notices which may change the Pledgor’s any warranty and obligation
        under this Agreement or affect the Pledgor’s performance of its obligations
        under this Agreement.

      6.2  The
        Pledgors agree that Pledgee’s right to the Pledge obtained from this Agreement
        shall not be suspended or inhibited by any legal procedure launched by the
        Pledgors or any successors of the Pledgors or any person authorized by the
        Pledgors or any such other person.

      6.3  The
        Pledgors promise to Pledgee that in order to protect or perfect the security
        for
        the payment of the Services Fees, the Pledgors shall execute in good faith
        and
        cause other parties who have interests in the Pledge to execute all the title
        certificates, contracts, and perform actions and cause other parties who
        have
        interests to take action, as required by Pledgee; and make access to exercise
        the rights and authorization vested in Pledgee under this
        Agreement.

       

      
        
          
          

        

        
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      6.4  The
        Pledgors promise to Pledgee that they will execute all amendment documents
        (if
        applicable and necessary) in connection with any registration of the Pledge
        with
        Pledgee or its designated person (natural person or a legal entity), and
        provide
        the notice, order and decision to Pledgee as necessary, within a reasonable
        amount of time upon request.

      6.5  The
        Pledgors promise to Pledgee that they will comply with and perform all the
        guarantees, covenants, warranties, representations and conditions for the
        benefits of Pledgee. The Pledgors shall compensate all the losses suffered
        by
        Pledgee as a result of the Pledgors failing perform or fully perform their
        guarantees, covenants, warranties, representations and conditions.

       

      
        	
                7.  

              	
                Events
                  Of Default.

              

      

      
        	
                7.1  

              	
                The
                  following events shall be regarded as the events of
                  default:

              

      

      7.1.1  This
        Agreement is deemed illegal by a governing authority in the PRC, or the Pledgors
        are not capable of continuing to perform the obligations herein due to any
        reason except force majeure;

      7.1.2  
        IMJM
        Real Estate fails to make full payment of the Services Fees as scheduled
        under
        the Service Agreement;

      7.1.3  A
        Pledgor
        makes any materially false or misleading representations or warranties under
        Section 5 herein, and/or the Pledgor breaches any warranties under Section
        5
        herein;

      7.1.4  A
        Pledgor
        breaches the covenants under Section 6 herein;

      7.1.5    
A
        Pledgor
        breaches the term or condition herein;

      7.1.6  A
        Pledgor
        waives the pledged equity interest or transfers or assigns the pledged equity
        interest without prior written consent of Pledgee;

      7.1.7  
        IMJM
        Real Estate is incapable of repaying its general debt or other
        debt;

       

      
        
          
          

        

        
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      7.1.8  The
        property of a Pledgor is adversely affected causing Pledgee to believe that
        the
        capability of the Pledgor to perform the obligations herein is adversely
        affected;

      7.1.9  The
        successors or agents of the  IMJM  Real Estate are only able to
        perform a portion of or refuse to perform the payment obligations under the
        Service Agreement;

      7.1.10  The
        breach of the other terms by action or inaction under this agreement by a
        Pledgor.

      7.2  The
        Pledgor shall immediately give a written notice to Pledgee if the Pledgor
        is
        aware of or discovers that any event under Section 7.1 herein or any event
        that
        may result in the foregoing events has occurred or is likely to
        occur.

      7.3  Unless
        the event of default under Section 7.1 herein has been solved to Pledgee’s
        satisfaction, Pledgee, at any time when the event of default occurs or
        thereafter, may give a written notice of default to the Pledgor and require
        the
        Pledgor to immediately make full payment of the outstanding Service Fees
        under
        the Service Agreement and other payables or exercise other rights in accordance
        with Section 8 herein.

      

      
        	
                8.  

              	
                Exercise
                  of Remedies.

              

      

      8.1           Authorized
        Action by Secured Party. The Pledgors hereby irrevocably
        appoint Pledgee the attorney-in-fact of the Pledgors for the purpose of carrying
        out the security provisions of this Agreement and taking any action and
        executing any instrument that Pledgee may deem necessary or advisable to
        accomplish the purposes of this Agreement.  If an event of default
        occurs, or is continuing, Pledgee shall have the right to exercise the following
        rights and powers:

      (a)           Collect
        by legal proceedings or otherwise and endorse and/or receive all payments,
        proceeds and other sums and property now or hereafter payable on or on account
        of the Pledged Collateral;

      (b)           Enter
        into any extension, reorganization, deposit, merger, consolidation or other
        agreement pertaining to, or deposit, surrender, accept, hold or apply other
        property in exchange for the Pledged Collateral;

       

      
        
          
          

        

        
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      (c)           Transfer
        the Pledged Collateral to its own or its nominee’s name;

      (d)           Make
        any compromise or settlement, and take any action it deems advisable, with
        respect to the Pledged Collateral;

      (e)           Notify
        any obligor with respect to any Pledged Collateral to make payment directly
        to
        Pledgee;

      (f)           All
        rights of the Pledgors to exercise the voting and other consensual rights
        it
        would otherwise be entitled to exercise without any action or the giving
        of any
        notice shall cease, and all such rights shall thereupon become vested in
        Pledgee;

      (g)           All
        rights of the Pledgors to receive distributions with respect to the Pledged
        Collateral which it would otherwise be authorized to receive and retain shall
        cease and all such rights shall thereupon become vested in Pledgee;
        and

      (h)           The
        Pledgors shall execute and deliver to Pledgee appropriate instruments as
        Pledgee
        may request in order to permit Pledgee to exercise the voting and other rights
        which it may be entitled to exercise and to receive all distributions which
        it
        may be entitled to receive.

      The
        Pledgors hereby grant to Pledgee an exclusive, irrevocable power of attorney,
        with full power and authority in the place and stead of the Pledgors to take
        all
        such action permitted under this Section 8.1.  Such power of
        attorney shall be effective, automatically and without the necessity of any
        action (including any transfer of any Pledged Collateral) by any person,
        upon
        the occurrence and continuance of an event of default.  Pledgee shall
        not have any duty to exercise any such right or to preserve the same and
        shall
        not be liable for any failure to do so or for any delay in doing
        so.

      8.2           Event
        of defaults; Remedies.  Upon the occurrence of an event of
        default, Pledgee may, without notice to or demand on the Pledgors and in
        addition to all rights and remedies available to Pledgee, at law, in equity
        or
        otherwise, do any of the following:

      (a)           Require
        the Pledgors to immediately pay all outstanding unpaid amounts due under
        the
        Consulting Services Agreement;

       

      
        
          
          

        

        
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      (b)           Foreclose
        or otherwise enforce Pledgee’s security interest in any manner permitted by law
        or provided for in this Agreement;

      (c)           Terminate
        this Agreement pursuant to Section 11;

      (d)           Exercise
        any and all rights as beneficial and legal owner of the Pledged Collateral,
        including, without limitation, perfecting assignment of and exercising any
        and
        all voting, consensual and other rights and powers with respect to any Pledged
        Collateral; and

      (e)  Exercise
        any and all the rights and remedies of a secured party upon default under
        applicable law.

      8.3           Pledgee
        shall give a notice of default to the Pledgors when Pledgee exercises its
        remedies under this Agreement.

      8.4           Subject
        to Section 7.3, Pledgee may exercise its remedies under this Agreement at
        any
        time after Pledgee gives a notice of default in accordance with Section 7.3
        or
        thereafter.

      8.5           Pledgee
        is entitled to priority in receiving payment by the evaluation or proceeds
        from
        the auction or sale of whole or part of the equity interest pledged herein
        in
        accordance with legal procedure until the unpaid Services Fees under the
        Services Agreement are repaid.

      8.6           The
        Pledgor shall not hinder Pledgee from exercising its rights in accordance
        with
        this Agreement and shall give necessary assistance so that Pledgee may exercise
        its rights in full.

      

      9.           Assignment.

      9.1            The
        rights of the Pledgors shall not be transferrable.

      9.2           This
        Agreement shall be binding upon each of the Pledgors and his, her or its
        successors and be binding on Pledgee and his each successor and
        assignee.

      9.3           Pledgee
        may transfer or assign his all or any rights and obligations under this
        Agreement to a wholly-owned foreign entity (WOFE) in the PRC, owned by Pledgee,
        provided that such WOFE shall become a party to this Agreement. In this case,
        the assignee shall enjoy and undertake the same rights and obligations herein
        of
        Pledgee as if the assignee is a party hereto. When Pledgee transfers or assigns
        the rights and obligations under this Agreement, and such transfer shall
        only be
        subject to a written notice to Pledgors, and at the request of Pledgee, the
        Pledgors shall execute the relevant agreements and/or documents with respect
        to
        such transfer or assignment.

      9.4           In
        the event of a change in control of Pledgee’s resulting in the transfer or
        assignment of this agreement, the successor parties to the pledge shall execute
        a new pledge contract.

      

      
        
          
          

        

        
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                10.  

              	
                Formalities,
                  Fees and Other Charges.

              

      

      10.1           The
        Pledgors shall be responsible for all the fees and actual expenses in relation
        to this Agreement including but not limited to legal fees, cost of production,
        stamp tax and any other taxes and charges. If Pledgee pays the relevant taxes
        in
        accordance with applicable law, the Pledgors shall fully indemnify Pledgee
        such
        taxes paid by Pledgee.

      10.2           The
        Pledgors shall be responsible for all the fees (including but not limited
        to any
        taxes, formalities fees, management fees, litigation fees, attorney’s fees, and
        various insurance premiums in connection with disposition of Pledge) incurred
        by
        the Pledgors for the reason that the Pledgors fail to pay any payable taxes,
        fees or charges for other reasons which cause Pledgee to recourse by any
        means
        or ways.

      

      
        	
                11.  

              	
                Force
                  Majeure.

              

      

      11.1           “Force
        Majeure,” shall include but not be limited to acts of governments, acts of
        nature, fire, explosion, typhoon, flood, earthquake, tide, lightning, war,
        refers to any unforeseen events beyond the party’s reasonable control and cannot
        be prevented with reasonable care.  However, any shortage of credit,
        capital or finance shall not be regarded as an event beyond a Party’s reasonable
        control.  The affected party by Force Majeure shall notify the other
        party of such event resulting in exemption promptly.

      11.2           In
        the event that the affected party is delayed in or prevented from performing
        its
        obligations under this Agreement by Force Majeure, only within the scope
        of such
        delay or prevention, the affected party will not be responsible for any damage
        by reason of such a failure or delay of performance. The affected party shall
        take appropriate means to minimize or remove the effects of Force Majeure
        and
        attempt to resume performance of the obligations delayed or prevented by
        the
        event of Force Majeure.  After occurrence of an event of Force
        Majeure, when such event or condition ceases to exist, both parties agree
        to
        resume the performance of this Agreement with their best efforts.

      

      
        
          
          

        

        
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      12.           Confidentiality.
        The parties of this agreement acknowledge and make sure that all the oral
        and
        written materials exchanged relating to this contract are confidential. All
        the
        parties have to keep them confidential and can not disclose them to any other
        third party without other parties’ prior written approval, unless: (a) the
        public know and will know the materials (not because of the disclosure by
        any
        contractual party); (b) the disclosed materials are required by laws or stock
        exchange rules; or (c) materials relating to this transaction are disclosed
        to
        parties’ legal consultants or financial advisors, however, who have to keep them
        confidential as well.  Disclosure of confidential information by
        Employees or hired institutions of the parties is deemed as the act by the
        parties, therefore, subjecting them to liability.

      13.           Dispute
        Resolution.

      13.1           This
        Agreement shall be governed by and construed in accordance with the PRC
        law.

      13.2           The
        parties shall strive to settle any dispute arising from the interpretation
        or
        performance, or in connection with this Agreement through friendly
        consultation.  In case no settlement can be reached through
        consultation, each party can submit such matter to China International Economic
        and Trade Arbitration Commission (“CIETAC”) for arbitration. The arbitration
        shall follow the current rules of CIETAC, and the arbitration proceedings
        shall
        be conducted in Chinese and shall take place in Beijing. Any resulting
        arbitration award shall be final and binding upon the parties.

      14.           Notices.  Any
        notice which is given by the parties hereto for the purpose of performing
        the
        rights and obligations hereunder shall be in writing. Where such notice is
        delivered personally, the time of notice is the time when such notice actually
        reaches the addressee; where such notice is transmitted by facsimile, the
        notice
        time is the time when such notice is transmitted. If such notice does not
        reach
        the addressee on business date or reaches the addressee after the business
        time,
        the next business day following such day is the date of notice. The delivery
        place is the address first written above of the parties hereto or the address
        advised in writing including via facsimile from time to time.

       

      
        
          
          

        

        
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      15.  Entire
        Contract.  All Parties agree that this Agreement constitute the
        entire agreement of the Parties with respect to the subject matter therein
        upon
        its effectiveness and supersedes and replaces all prior oral and/or written
        agreements and understandings relating to this Agreement.

       

      16.  Severability.  Any
        provision of this Agreement which is invalid or unenforceable because of
        inconsistent with the relevant laws shall, as to that jurisdiction, be
        ineffective to the extent of such invalidity or unenforceability, without
        affecting in any way the remaining provisions hereof.

       

      17.  Appendices.  The
        appendices to this Agreement are entire and integral part of this
        Agreement.

       

      18.  Amendment
        or Supplement.

       

      18.1           Any
        amendment and supplement of this Agreement shall be made in writing signed
        by
        all parties, and shall be subject to the prior unanimous consent of the members
        of the board of directors of Speedhaul.  The amendment and supplement duly
        executed by all parties shall be deemed as a part of this Agreement and shall
        have the same legal effect as this Agreement.

      18.2           This
        agreement and any amendments, modification, supplements, additions or changes
        hereto shall be in writing and come into effect upon being executed and sealed
        by the parties hereto.

      

      19.           Language
        and Copies of the Agreement.  This Agreement has both an English
        version and a Chinese version. Both versions are equally authentic. Where
        a
        comparison of the authentic texts of both versions of this Agreement discloses
        a
        difference in meaning, the meaning which best reconciles the texts, having
        regard to the object and purpose of this Agreement shall be adopted. This
        Agreement is executed by the Parties in counterparts, each Party holds one
        counterpart, and each original has the same legal effect.

       

      

      [SIGNATURE
        PAGE FOLLOWS]

       

      
        
          
          

        

        
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      SIGNATURE
        PAGE

      

      

      IN
        WITNESS WHEREOF each party hereto has caused this Agreement duly
        executed by itself or a duly authorized representative on its behalf as of
        the
        date first written above.

      

      PLEDGEE:                                             Global
        Rise International Limited

      

              By:           /s/
        Liankuan Yang_________________

      Liankuan
        Yang, Chief Executive
        Officer

      

      
        IMJM
          REAL ESTATE:            
          Inner
          Mongolia Jin Ma Real Estate Development Limited
          Company

      

              By:           /s/
        Liankuan Yang__________________

      Liankuan
        Yang, Chief Executive
        Officer

       

      SPEEDHAUL:                                       Speedhaul
        Holdings, Inc.

      

              By:           /s/
        Andrew Norins_________________

      Andrew
        Norins, Chief Executive
        Officer

       

      GOLD
        HORSE:                                    Gold
        Horse International, Inc.

      

              By:           /s/
        Liankuan Yang_________________

      Liankuan
        Yang, Chief Executive
        Officer

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      PLEDGOR
        SIGNATURE PAGE

      

      PLEDGORS:

      

      SHAREHOLDERS
        OF JIN MA REAL
        ESTATE:

       

      /s/
        Yang Liankuan_________________

      By:
        Yang
        Liankuan

      (PRC
        ID
        Card No.: 150103570713017)

      Shares
        of
        IMJM Real Estate owned by Yang Liankuan: 70%

       

      /s/
        Ma
        Runlan_____________________

      By:
        Ma
        Runlan

      (PRC
        ID
        Card No.: 150103600421102)

      Shares
        of
        IMJM Real Estate owned by Ma Runlan: 15%.

       

      /s/
        Yang Yang_____________________

      By:
        Yang
        Yang

      (PRC
        ID
        Card No.: 150103820724052)

      Shares
        of
        IMJM Real Estate owned by Yang Yang: 15%

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

      
        	
                 

              	
                 Appendix
                  1

              

      

      RESOLUTIONS
        OF THE GENERAL SHAREHOLDERS’

      MEETING
        OF INNER MONGOLIA JIN MA REAL ESTATE DEVELOPMENT COMPANY
        LIMITED

      WHEREAS,
        that certain significant shareholders of Inner Mongolia Jin Ma Real Estate
        Development Company Limited (“Company”) have agreed to pledge their shares of
        the company under an Amended and Restated Equity Pledge Agreement dated June
        29,
        2007; and

      

      WHEREAS,
        it is in the best interest of the Company for the shareholders to enter into
        such Equity Pledge Agreement.

      

      RESOLVED,
        that the pledge of shares held by the shareholders of the company under the
        Equity Pledge Agreement is hereby approved.

      

      This
        resolution was executed and submitted on June 29, 2007 by the undersigned
        shareholders:

       

      SHAREHOLDERS:

      

      /s/
        Yang Liankuan__________________

      By:
        Yang
        Liankuan

      (PRC
        ID
        Card No.: 150103570713017)

      Shares
        of
        IMJM Real Estate owned by Yang Liankuan: 70%

      

      /s/
        Ma
        Runlan______________________

      By:
        Ma
        Runlan

      (PRC
        ID
        Card No.: 150103600421102)

      Shares
        of
        IMJM Real Estate owned by Ma Runlan: 15%.

      

      /s/
        Yang Yang______________________

      By:
        Yang
        Yang

      (PRC
        ID
        Card No.: 150103820724052)

      Shares
        of
        IMJM Real Estate owned by Yang Yang: 15%f8k06290710xiv_speedhaul.htm

    Exhibit
      10.14

    

    AMENDED
      AND RESTATED OPTION AGREEMENT

    by
      and among

    SPEEDHAUL
      HOLDINGS, INC.

    GOLD
      HORSE INTERNATIONAL, INC.

    GLOBAL
      RISE INTERNATIONAL LIMITED

    INNER
      MONGOLIA JIN MA REAL ESTATE DEVELOPMENT COMPANY LIMITED (“IMJM REAL
      ESTATE”)

    and

    SHAREHOLDERS
      OF IMJM REAL ESTATE 

    (English
      translation)

    

    This
      Amended and Restated Option Agreement (this “Agreement”) is dated June
      29, 2007, and is entered into in Hohhot, China by and among Speedhaul Holdings,
      Inc. (OTCBB: SPEH) (“Speedhaul”), Gold Horse International, Inc, a
      company incorporated under the laws of the State of Nevada, the United
      States,  (“Gold Horse”), Global Rise International Limited, a
      limited liability company organized under the laws of the Cayman Islands and
      wholly-owned subsidiary of Gold Horse (“Global Rise”) and Inner Mongolia
      Jin Ma Real Estate Development Company Limited, a limited liability company
      organized under the laws of the PRC (“IMJM Real Estate”), and
      shareholders holding 100% outstanding shares of IMJM Real Estate (the
“Shareholders of IMJM Real Estate”). The parties to this Agreement are
      referred to collectively herein as the “Parties.”

    RECITALS

    A.           Speedhaul
      is a public reporting corporation incorporated under the laws of the State
      of
      New Jersey, the United States.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    B.           Gold
      Horse is a Nevada corporation and wholly-owned subsidiary of Speedhaul, pursuant
      to a share exchange agreement under which the shareholders of Gold Horse and
      their assignees acquired 97% of the issued and outstanding shares of Speedhaul
      (the “Transaction”).

    C.           Global
      Rise is a wholly owned subsidiary of Gold Horse.

    D.           IMJM
      Real Estate is a company incorporated in Inner Mongolia, China, and is engaged
      in the real estate development business (the “Business”);

    E.           The
      undersigned Shareholders of IMJM Real Estate collectively own over 100% of
      the
      equity interests of IMJM Real Estate (each, an “Equity Interest” and
      collectively the “Equity Interest”).

    F.           Gold
      Horse and IMJM Real Estate were previously parties to an Operating Agreement,
      Option Agreement, Shareholder Voting Rights Proxy Agreement, Equity Pledge
      Agreement and Consulting Services Agreement, each dated August 31,
      2006.

    G.           In
      connection with the Transaction, the parties wish to amend and restate the
      August 31, 2006 Option Agreement, which shall be amended and restated in its
      entirety in the form of this Agreement.

    H.           The
      Parties are entering into this Amended and Restated Option Agreement to define
      and set forth the business relationship among Speedhaul, Gold Horse, Global
      Rise, and IMJM Real Estate, relating to IMJM Real Estate’s
      operations.

    NOW,
      THEREFORE, the Parties to this Agreement hereby agree as
      follows:

     

    
      	
              1.

            	
              Purchase
                and Sale of Equity Interest

            

    

     

    
      	
               

            	
              1.1

            	
              Grant
                of Rights.  The Shareholders of IMJM Real Estate (hereafter
                collectively the “Transferor”) hereby irrevocably grant to Global
                Rise an option to purchase or cause any person designated by Global
                Rise
                (“Designated Persons”) to purchase, to the extent permitted under PRC Law,
                according to the steps determined by Global Rise, at the price specified
                in Section 1.3 of this Agreement, at any time from the Transferor
                a
                portion or all of the equity interests held by Transferor in IMJM
                Real
                Estate (the “Option”). No Option shall be granted to any third
                party other than Global Rise and/or the Designated Persons. IMJM
                Real
                Estate hereby agrees to the granting of the Option by the Shareholders
                of
                IMJM Real Estate to Global Rise and/or the Designated
                Persons.  The “person” set forth in this clause and this
                Agreement means an individual person, corporation, joint venture,
                partnership, enterprise, trust or a non-corporation
                organization.

            

    

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
 

    
      	
               

            	
              1.2

            	
              Exercise
                of Rights.  According to the stipulations of PRC laws and
                regulation, Global Rise and/or the Designated Persons may exercise
                Option
                by issuing a written notice (the “Notice”) to the Transferor and
                specifying the equity interest purchased from Transferor (the
                “Purchased Equity Interest”) and the manner of
                purchase.

            

    

     

    
      	
               

            	
              1.3

            	
              Purchase
                Price.

            

    

     

    
      	
               

            	
              1.3.1

            	
              For
                Global Rise to exercise the Option, the purchase price of the Purchased
                Equity Interest (“Purchase Price”) shall be equal to the original
                paid-in price of the Purchased Equity Interest by the Transferor,
                unless
                the applicable PRC laws and regulations require appraisal of the
                equity
                interests or stipulate other restrictions on the purchase price of
                equity
                interests.

            

    

     

    
      	
               

            	
              1.3.2

            	
              If
                the applicable PRC laws require appraisal of the equity interests
                or
                stipulates other restrictions on the purchase price of the Equity
                Interest
                at the time that Global Rise exercise the Option, the Parties agree
                that
                the Purchase Price shall be set at the lowest price permissible under
                the
                applicable laws.

            

    

    

    
      	
               

            	
              1.4

            	
              Transfer
                of the Purchased Equity Interest.  Upon each exercise of the
                Option rights under this Agreement:

            

    

    

    
      	
               

            	
              1.4.1

            	
              The
                Transferor shall convene a shareholders’ meeting of the Transferor. During
                the meeting, the resolutions shall be proposed, approving the transfer
                of
                the appropriate Equity Interest to Global Rise and/or the Designated
                Persons;

            

    

     

    
      	
               

            	
              1.4.2

            	
              The
                Transferor shall, upon the terms and conditions of this Agreement
                and the
                Notice related to the Purchased Equity Interest, enter into Equity
                Interest purchase agreement in a form reasonably acceptable to Global
                Rise, with Global Rise and/or the Designated Persons (as
                applicable);

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              1.4.3

            	
              The
                related parties shall execute all other requisite contracts, agreements
                or
                documents, obtain all requisite approval and consent of the government,
                conduct all necessary actions, without any security interest, transfer
                the
                valid ownership of the Purchased Equity Interest to Global Rise and/or
                the
                Designated Persons, and cause Global Rise and/or the Designated Persons
                to
                be the registered owner of the Purchased Equity Interest.  In
                this clause and this Agreement, “Security Interest” means any mortgage,
                pledge, the right or interest of the third party, any purchase right
                of
                equity interest, right of acquisition, right of first refusal, right
                of
                set-off, ownership detainment or other security arrangements, however,
                it
                does not include any security interest created under the Equity Pledge
                Agreement.

            

    

     

    
      	
               

            	
              1.5

            	
              Payment.  The
                payment of the Purchase Price shall be determined by the consultation
                of
                Global Rise and/or the Designated Persons with the Transferor according
                to
                the applicable laws at the time of exercise of the
                Option.

            

    

     

    
      	
              2.

            	
              Promises
                Relating Equity Interest. 

            

    

     

    
      	
               

            	
              2.1

            	
              Promises
                Related to IMJM Real Estate.  IMJM Real Estate and the
                Shareholders of IMJM Real Estate hereby
                promise:

            

    

     

    
      	
               

            	
              2.1.1

            	
              Without
                prior written consent by Global Rise, not, in any form, to supplement,
                change or renew the Articles of Association of IMJM Real Estate,
                to
                increase or decrease registered capital of the corporation, or to
                change
                the structure of the registered capital in any other
                forms;

            

    

     

    
      	
               

            	
              2.1.2

            	
              According
                to customary fiduciary standards applicable to managers with respect
                to
                corporations and their shareholders, to maintain the existence of
                the
                corporation, prudently and effectively operate the
                business;

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              2.1.3

            	
              Without
                prior written consent by Global Rise, not, upon the execution of
                this
                Agreement, to sell, transfer, mortgage or dispose, in any other form,
                any
                asset, legitimate or beneficial interest of business or income of
                IMJM
                Real Estate, or encumber or approve any encumbrance or imposition
                of any
                security interest on Global Rise’s
                assets;

            

    

     

    
      	
               

            	
              2.1.4

            	
              Without
                prior written notice by Global Rise, not issue or provide any guarantee
                or
                permit the existence of any debt, other than (i) the debt arising
                from
                normal or daily business but not from borrowing; and (ii) the debt
                disclosed to Global Rise and obtained the written consent from Global
                Rise;

            

    

     

    
      	
               

            	
              2.1.5

            	
              To
                normally operate all business to maintain the asset value of IMJM
                Real
                Estate, without taking any action or failing to take any action that
                would
                result in a material adverse effect on the business or asset value
                of IMJM
                Real Estate;

            

    

     

    
      	
               

            	
              2.1.6

            	
              Without
                prior written consent by Global Rise, not to enter into any material
                agreement, other than agreements in the ordinary course of business
                (for
                purposes of this paragraph, if the amount of the Agreement involves
                an
                amount that exceeds a hundred thousand Yuan (RMB 100,000) the agreement
                shall be deemed material);

            

    

     

    
      	
               

            	
              2.1.7

            	
              Without
                prior written consent by Global Rise, not to provide loan or credit
                loan
                to any others;

            

    

     

    
      	
               

            	
              2.1.8

            	
              Upon
                the request of Global Rise, to provide all materials of operation
                and
                finance relevant to IMJM Real
                Estate;

            

    

     

    
      	
               

            	
              2.1.9

            	
              Purchases
                and holds the insurance from the insurance company accepted by Global
                Rise, the insurance amount and category shall be the same with those
                held
                by the companies in the same industry or field, operating the similar
                business and owning the similar properties and assets as IMJM Real
                Estate;

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              2.1.10

            	
              Without
                prior written consent by Global Rise, not to merge or associate with
                any
                person, or acquire or invest in any
                person;

            

    

     

    
      	
               

            	
              2.1.11

            	
              To
                notify Global Rise of the occurrence or the potential occurrence
                of the
                litigation, arbitration or administrative procedure related to the
                assets,
                business and income of IMJM Real
                Estate;

            

    

     

    
      	
               

            	
              2.1.12

            	
              In
                order to keep the ownership of IMJM Real Estate to all its assets,
                to
                execute all requisite or appropriate documents, take all requisite
                or
                appropriate actions, and pursue all appropriate claims, or make requisite
                or appropriate pleas for all
                claims;

            

    

     

    
      	
               

            	
              2.1.13

            	
              Without
                prior written notice by Global Rise, not to assign equity interests
                to
                shareholders in any form; however, Global Rise shall distribute all
                or
                part of its distributable profits to their own shareholders upon
                request
                by Global Rise;

            

    

     

    
      	
               

            	
              2.1.14

            	
              According
                to the request of Global Rise, to appoint any person designated by
                Global
                Rise to be the directors of IMJM Real
                Estate.

            

    

     

    
      	
               

            	
              2.2

            	
              Promises
                Related to Transferor.  The Shareholders of IMJM Real Estate
                hereby promise:

            

    

     

    
      	
               

            	
              2.2.1

            	
              Without
                prior written consent by Global Rise, not, upon the execution of
                this
                Agreement, to sell, transfer, mortgage or dispose in any other form
                any
                legitimate or beneficial interest of equity interest, or to approve
                any
                other security interest set on it, with the exception of the pledge
                set on
                the equity interest of the Transferor subject to Equity Pledge
                Agreement;

            

    

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              2.2.2

            	
              Without
                the prior written consent of the other Parties, not to decide or
                support or execute any shareholder resolution at any shareholder
                meeting
                of IMJM Real Estate that approves any sale, transfer, mortgage or
                dispose
                of any legitimate or beneficial interest of equity interest, or allows
                any
                other security interest set on it, other than the pledge on the equity
                interests of Transferor pursuant to Equity Pledge
                Agreement;

            

    

     

    
      	
               

            	
              2.2.3

            	
              Without
                prior written consent of the other Parties, the Parties shall not
                agree or
                support or execute any shareholders resolution at any shareholder
                meeting
                of IMJM Real Estate that approves IMJM Real Estate’s merger or association
                with any person, acquisition of any person or investment in any
                person;

            

    

     

    
      	
               

            	
              2.2.4

            	
              To
                notify Global Rise the occurrence or the potential occurrence of
                the
                litigation, arbitration or administrative procedure related to the
                equity
                interest owned by them;

            

    

     

    
      	
               

            	
              2.2.5

            	
              To
                cause the Board of Directors of IMJM Real Estate to approve the transfer
                of the Purchased Equity Interest subject to this
                Agreement;

            

    

     

    
      	
               

            	
              2.2.6

            	
              In
                order to keep its ownership of the equity interest, to execute all
                requisite or appropriate documents, conduct all requisite or appropriate
                actions, and make all requisite or appropriate claims, or make requisite
                or appropriate defend against fall claims of
                compensation;

            

    

     

    
      	
               

            	
              2.2.7

            	
              Upon
                the request of Global Rise, to appoint any person designated by Global
                Rise to be the directors of IMJM Real
                Estate;

            

    

     

    
      	
               

            	
              2.2.8

            	
              Upon
                the request of Global Rise at any time, to transfer its Equity Interest
                immediately to the representative designated by Global Rise
                unconditionally at any time and abandon its prior right of first
                refusal
                of such equity interest transferring to another available
                shareholder;

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              2.2.9

            	
              To
                prudently comply with the provisions of this Agreement and other
                Agreements entered into collectively or respectively by the Transferor,
                IMJM Real Estate and Global Rise and perform all obligations under
                these
                Agreements, without taking any action or any nonfeasance that sufficiently
                affects the validity and enforceability of these
                Agreements;

            

    

     

    
      	
              3.

            	
              Representations
                and Warranties.  As of the execution date of this Agreement
                and every transferring date, IMJM Real Estate, the Shareholders of
                IMJM
                Real Estate hereby represent and warrant collectively and respectively
                to
                Global Rise as follows:

            

    

     

    
      	
               

            	
              3.1

            	
              It
                has the power and ability to enter into and deliver this Agreement,
                and
                any equity interest transferring Agreement (“Transferring
                Agreement,” respectively) having it as a party, for every single
                transfer of the Purchased Equity Interest according to this Agreement,
                and
                to perform its obligations under this Agreement and any Transferring
                Agreement.  Upon execution, this Agreement and the Transferring
                Agreements having it as a party will constitute a legal, valid and
                binding
                obligation of it enforceable against it in accordance with its
                terms;

            

    

     

    
      	
               

            	
              3.2

            	
              The
                execution, delivery of this Agreement and any Transferring Agreement
                and
                performance of the obligations under this Agreement and any Transferring
                Agreement will not: (i) cause to violate any relevant laws and regulations
                of PRC; (ii) constitute a conflict with its Articles of Association
                or
                other organizational documents; (iii) cause to breach any Agreement
                or
                instruments to which it is a party or having binding obligation on
                it, or
                constitute the breach under any Agreement or instruments to which
                it is a
                party or having binding obligation on it; (iv) cause to violate relevant
                authorization of any consent or approval to it and/or any continuing
                valid
                condition; or (v) cause any consent or approval authorized to it
                to be
                suspended, removed, or into which other requests be
                added;

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              3.3

            	
              The
                shares of IMJM Real Estate are transferable, and IMJM Real Estate
                has not
                permitted or caused any security interest to be imposed upon the
                shares of
                IMJM Real Estate.

            

    

     

    
      	
               

            	
              3.4

            	
              IMJM
                Real Estate does not have any unpaid debt, other than (i) debt arising
                from its normal business; and (ii) debt disclosed to Global Rise
                and
                obtained by written consent of Global
                Rise;

            

    

     

    
      	
               

            	
              3.5

            	
              IMJM
                Real Estate has complied with all PRC laws and regulations applicable
                to
                the acquisition of assets and securities in connection with this
                Agreement;

            

    

     

    
      	
               

            	
              3.6

            	
              No
                litigation, arbitration or administrative procedure relevant to the
                Equity
                Interests and assets of IMJM Real Estate or IMJM Real Estate itself
                is in
                process or to be settled and the Parties have no knowledge of any
                pending
                or threatened claim;

            

    

     

    
      	
               

            	
              3.7

            	
              The
                Transferor bears the fair and salable ownership of its Equity Interest
                free of encumbrances of any kind, other than the security interest
                pursuant to the Equity Pledge
                Agreement.

            

    

     

    
      	
              4.

            	
              Assignment
                of Agreement

            

    

     

    
      	
               

            	
              4.1

            	
              IMJM
                Real Estate and the Shareholders of IMJM Real Estate shall not transfer
                their rights and obligations under this Agreement to any third party
                without the prior written consent of the other
                Parties.

            

    

     

    
      	
               

            	
              4.2

            	
              IMJM
                Real Estate and  the Shareholders of IMJM Real Estate hereby agrees
                that Global Rise shall be able to transfer all of its rights and
                obligation under this Agreement to a wholly-owned foreign entity
                (WOFE) in
                the PRC, owned by Global Rise, and such transfer shall only be subject
                to
                a written notice sent to IMJM Real Estate, the Shareholders of IMJM
                Real
                Estate by Global Rise, and no any further consent from IMJM Real
                Estate,
                the Shareholders of IMJM Real Estate will be
                required.

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	
              5.

            	
              Effective
                Date and Term

            

    

     

    
      	
               

            	
              5.1

            	
              This
                Agreement shall be effective as of the date first set forth
                above.

            

    

     

    
      	
               

            	
              5.2

            	
              The
                term of this Agreement is ten (10) years unless the early termination
                in
                accordance with this Agreement or other terms of the relevant agreements
                stipulated by the Parties. This Agreement may be extended according
                to the
                written consent of Global Rise before the expiration of this Agreement.
                The term of extension will be decided unanimously through mutual
                agreement
                of the Parties.

            

    

     

    
      	
               

            	
              5.3

            	
              If
                Global Rise or IMJM Real Estate terminates by the expiration of its
                operating period (including any extended period) or other causes
                in the
                term set forth in Section 5.2, this Agreement shall be terminated
                simultaneously, except Global Rise has transferred its rights and
                obligations in accordance with Section 4.2 of this
                Agreement.

            

    

     

    
      	
              6.

            	
              Applicable
                Law and Dispute Resolution

            

    

     

    
      	
               

            	
              6.1

            	
              Applicable
                Law.  The execution, validity, construing and performance of
                this Agreement and the resolution of disputes under this Agreement
                shall
                be governed by the laws of PRC.

            

    

     

    
      	
               

            	
              6.2

            	
              Dispute
                Resolution.  The parties shall strive to settle any dispute
                arising from the interpretation or performance in connection with
                this
                Agreement through friendly consultation. In case no settlement can
                be
                reached through consultation within thirty (30) days after such dispute
                is
                raised, each party can submit such matter to China International
                Economic
                and Trade Arbitration Commission (the “CIETAC”) in accordance with its
                rules.  Arbitration shall take place in Beijing and the
                proceedings shall be conducted in Chinese. Any resulting arbitration
                award
                shall be final conclusive and binding upon both
                parties.

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
              7.

            	
              Taxes
                and Expenses.  Each Party shall, according to the PRC laws,
                bear any and all registering taxes, costs and expenses for equity
                transfer
                arising from the preparation and execution of this Agreement and
                all
                Transferring Agreements, and the completion of the transactions under
                this
                Agreement and all Transferring
                Agreements.

            

    

     

    
      	
              8.

            	
              Notices.  Notices
                or other communications required to be given by any party pursuant
                to this
                Agreement shall be written in English and Chinese and delivered personally
                or sent by registered mail or postage prepaid mail or by a recognized
                courier service or by facsimile transmission to the address of relevant
                each party or both parties set forth below or other address of the
                party
                or of the other addressees specified by such party from time to time.
                The
                date when the notice is deemed to be duly served shall be determined
                as
                the follows: (a) a notice delivered personally is deemed duly served
                upon
                the delivery; (b) a notice sent by mail is deemed duly served the
                tenth
                (10th)
                day after the date when the air registered mail with postage prepaid
                has
                been sent out (as is shown on the postmark), or the fourth (4th)
                day after
                the delivery date to the internationally recognized courier service
                agency; and (c) a notice sent by facsimile transmission is deemed
                duly
                served upon the receipt time as is shown on the transmission confirmation
                of relevant documents.

            

    

    
       

      
        
          	
                  If
                    to Speedhaul, Gold Horse or Global Rise:

                
	 	 
	
                  Address:

                	
                  No.
                    31 Tongdao South Road, Huiming District

                
	 	
                  Hohhot
                    City, Inner Mongolia, China 010030

                
	 	 
	
                  Fax:

                	
                  86
                    (471) 339-7016

                
	 	 
	
                  If
                    to IMJM Real Estate:

                
	 	 
	
                  Address:

                	
                  No.
                    31 Tongdao South Road, Huiming District

                
	 	
                  Hohhot
                    City, Inner Mongolia, China 010030

                
	 	 
	
                  Fax:

                	
                  86
                    (471) 339-7016

                
	 	 
	
                  If
                    to the Shareholders of IMJM Real Estate:

                
	 	 
	
                  Address:

                	
                  c/o
                    Liankuan Yang

                
	 	
                  No.
                    31 Tongdao South Road, Huiming District

                
	 	
                  Hohhot
                    City, Inner Mongolia, China 010030

                
	 	 
	
                  Fax:

                	
                  86
                    (471) 339-7016

                

        

      

       

       

       

      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	
              9.

            	
              Confidentiality.  The
                Parties acknowledge and confirm any oral or written materials exchanged
                by
                the Parties in connection with this Agreement are confidential. The
                Parties shall maintain the secrecy and confidentiality of all such
                materials. Without the written approval by the other Parties, any
                Party
                shall not disclose to any third party any relevant materials, but
                the
                following circumstances shall be
                excluded:

            

    

     

    
      	
               

            	
              a.

            	
              The
                materials that is known or may be known by the general public (but
                not
                include the materials disclosed by each party receiving the
                materials);

            

    

     

    
      	
               

            	
              b.

            	
              The
                materials required to be disclosed subject to the applicable laws
                or the
                rules or provisions of stock exchange;
                or

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              c.

            	
              The
                materials disclosed by each Party to its legal or financial consultant
                relating the transaction of this Agreement, and this legal or financial
                consultant shall comply with the confidentiality set forth in this
                Section.  The disclosure of the confidential materials by staff
                or employed institution of any Party shall be deemed as the disclosure
                of
                such materials by such Party, and such Party shall bear the liabilities
                for breaching the contract. This clause shall survive whatever this
                Agreement is invalid, amended, revoked, terminated or unable to implement
                by any reason.

            

    

     

    
      	
              10.

            	
              Further
                Warranties.  The Parties agree to promptly execute documents
                reasonably required to perform the provisions and the aim of this
                Agreement or documents beneficial to it, and to take actions reasonably
                required to perform the provisions and the aim of this Agreement
                or
                actions beneficial to it.

            

    

     

    
      	
              11.

            	
              Miscellaneous.

            

    

     

    
      	
               

            	
              11.1

            	
              Amendment,
                Modification and Supplement.  Any amendment and supplement
                to this Agreement shall only be effective is made by the Parties
                in
                writing, and no amendment may be made without the prior unanimous
                approval
                of the Board of Directors of
                Speedhaul.

            

    

     

    
      	
               

            	
              11.2

            	
              Entire
                Agreement.  Notwithstanding the Article 5 of this Agreement,
                the Parties acknowledge that this Agreement constitutes the entire
                agreement of the Parties with respect to the subject matters therein
                and
                supercede and replace all prior or contemporaneous agreements and
                understandings in verb or/and in
                writing.

            

    

     

    
      	
               

            	
              11.3

            	
              Severability.  If
                any provision of this Agreement is judged as invalid or non-enforceable
                according to relevant Laws, the provision shall be deemed invalid
                only
                within the applicable laws and regulations of the PRC, and the validity,
                legality and enforceability of the other provisions hereof shall
                not be
                affected or impaired in any way. The Parties shall, through fairly
                consultation, replace those invalid, illegal or non-enforceable provisions
                with valid provisions that may bring the similar economic effects
                with the
                effects caused by those invalid, illegal or non-enforceable
                provisions.

            

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              11.4

            	
              Headings.  The
                headings contained in this Agreement are for the convenience of reference
                only and shall not affect the interpretation, explanation or in any
                other
                way the meaning of the provisions of this
                Agreement.

            

    

     

    
      	
               

            	
              11.5

            	
              Language
                and Copies.  This Agreement has been executed in Chinese in
                four (4) duplicate originals; each Party holds one (1) original and
                each
                duplicate original shall have the same legal
                effect.

            

    

     

    
      	
               

            	
              11.6

            	
              Successor.  This
                Agreement shall bind and benefit the successor of each Party and
                the
                transferee allowed by each Party.

            

    

     

    
      	
               

            	
              11.7

            	
              Survival.  Any
                obligation taking place or at term hereof prior to the end or termination
                ahead of the end of this Agreement shall continue in force and effect
                notwithstanding the occurrence of the end or termination ahead of
                the end
                of the Agreement. Article 6, Article 8, Article 9 and Section 11.7
                hereof
                shall continue in force and effect after the termination of this
                Agreement.

            

    

     

    
      	
               

            	
              11.8

            	
              Waiver.  Any
                Party may waive the terms and conditions of this Agreement in writing
                with
                the signature of the Parties. Any waiver by a Party to the breach
                by other
                Parties within certain situation shall not be construed as a waiver
                to any
                similar breach by other Parties within other
                situations.

            

    

     

    [SIGNATURE
      PAGE FOLLOWS]

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereof have caused this Agreement to be
      executed by their duly authorized representatives as of the date first written
      above.

     

    SPEEDHAUL:                                                 Speedhaul
      Holdings,
      Inc.

    

                 
By:
/s/
      Andrew
      Norins____________________

            Andrew
      Norins, Chief
      Executive Officer

    

    GOLD
      HORSE:                                               Gold Horse
      International, Inc.

    

                  By:
/s/
      Liankuan
      Yang____________________

            Liankuan
      Yang, Chief
      Executive Officer

    

    GLOBAL
      RISE:                                               Global Rise
      International Limited

    

                    By:
/s/
      Liankuan
      Yang____________________

            Liankuan
      Yang, Chief
      Executive Officer

    

    IMJM
      REAL
      ESTATE:                                        
Inner Mongolia Jin Ma Real Estate Development Company
      Limited

    

                    By:
/s/
      Liankuan
      Yang____________________

            Liankuan
      Yang, Chief
      Executive Officer

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SHAREHOLDERS
      OF IMJM REAL ESTATE:

    

    

    /s/
      Yang Liankuan__________________

    By:
      Yang
      Liankuan

    (PRC
      ID
      Card No.: 150103570713017)

    Shares
      of
      IMJM Real Estate owned by Yang Liankuan: 70%

     

    /s/
      Ma
      Runlan______________________

    By:
      Ma
      Runlan

    (PRC
      ID
      Card No.: 150103600421102)

    Shares
      of
      IMJM Real Estate owned by Ma Runlan: 15%.

     

    /s/
      Yang Yang______________________

    By:
      Yang
      Yang

    (PRC
      ID
      Card No.: 150103820724052)

    Shares
      of
      IMJM Real Estate owned by Yang Yang: 15%

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