Document:

Security Agreement dated July 28, 2004

 EXHIBIT 10.4 
  
 SECURITY AGREEMENT 
  
 THIS SECURITY AGREEMENT (this “Agreement”), dated as of July 28, 2004, by GLOBAL MUSIC INTERNATIONAL, INC., a Florida corporation
(the “Company”), in favor of CORINNE FALLACARO (the “Holder”). 
  
 RECITALS: 
  
 WHEREAS, the Company has executed a Secured Promissory Note (the “Note”) of even date herewith in favor of Holder; 
  
 WHEREAS, the obligations of the Company under the Note are intended to be secured by certain Collateral (defined below) of the Company, as provided
herein. 
  
 NOW, THEREFORE, for other good and valuable
consideration, receipt of which is hereby acknowledged, the parties agree as follows: 
  
 TERMS OF AGREEMENT: 
  
 Section 1. Definitions; Interpretation. 
  
 (a)
Unless otherwise expressly provided herein, when used in this Agreement the following capitalized terms shall have the following meanings: 
  
 “Code” shall mean the Uniform Commercial Code as the same may, from time to time, be in effect in the State of Florida; provided,
however, in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of the security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a
jurisdiction other than the State of Florida, the term “Code” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such attachment, perfection or priority and for
purposes of definitions related to such provisions. 
  
 “Collateral” shall include all assets of the Company and each of its affiliates and subsidiaries, including without limitation the following, all whether now owned or hereafter acquired or arising: (i) accounts, accounts
receivable, contract rights, chattel paper, notes receivable, instruments and documents; (ii) goods of every nature, including without limitation, inventory, stock-in-trade, raw materials, work in process, items held for sale or lease or furnished
or to be furnished under contracts of sale or lease, goods that are returned, reclaimed or repossessed, together with materials used or consumed in the Company’s business; (iii) equipment, including, without limitation, machinery, vehicles,
furniture and fixtures; (iv) general intangibles, of every kind and description, including, but not limited to, all existing and future customer lists, choses in action, claims (including without limitation claims for indemnification or breach of
warranty), books, records, patents and patent applications, copyrights, trademarks, trade names, domain names, trade styles, trademark applications, goodwill, blueprints, drawings, designs and plans, trade secrets, contracts, licenses, license
agreements, formulae, tax and any other types of refunds, returned and unearned insurance premiums, rights and claims under insurance policies, and computer information, software, source codes, object codes, records and 

 data; (v) all cash and cash equivalents; and (vi) all cash and non-cash proceeds (including without limitation, insurance
proceeds) of all of the foregoing property, all products thereof and , all additions and accessions thereto, substitutions therefor and replacements thereof. 
  
 “Event of Default” shall mean any failure to make a payment when due under the Note or any failure to perform or observe any obligations,
covenants or agreements under this Agreement. 
  
 “Obligations” shall mean all the unpaid principal amount of, and accrued interest on, the Note, now existing or hereafter incurred. 
  
 “Proceeds” shall have the meaning assigned to it under the Code and, in any event, shall include, but not be limited to, (i) any and all
proceeds of any insurance, indemnity, warranty or guaranty payable to the Company from time to time with respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to the Company from time to time in
connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental body, authority, bureau or agency (or any person acting under color of governmental authority) and (iii) any
and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 
  
 (b) Where applicable and except as otherwise defined herein, terms used in this Agreement shall have the meanings assigned to them in the Code.

  
 (c) In this Agreement, (i) the meaning of defined terms shall
be equally applicable to both the singular and plural forms of the terms defined; and (ii) the captions and headings are for convenience of reference only and shall not affect the construction of this Agreement. 
  
 Section 2. Grant of Security Interest. As security for the prompt and
complete payment and performance when due of all of the Obligations of the Company, the Company hereby pledges and grants to Holder a security interest in the Collateral. This Agreement shall create a continuing security interest in the Collateral
which shall remain in effect until terminated in accordance with Section 10 hereof. 
  
 Section 3. Covenants. The Company covenants and agrees with Holder that from and after the date of this Security Agreement and until the Obligations are fully satisfied: 
  
 (a) At any time and from time to time, upon the written request of Holder,
and at the sole expense of the Company, the Company will promptly and duly execute and deliver any and all such further instruments and documents and take such further action as Holder may reasonably deem desirable in obtaining the full benefits of
this Security Agreement and of the rights and powers herein granted, including, without limitation, the filing of any financing or continuation statements under the Code. The Company also hereby authorizes Holder to file any such financing or
continuation statement without the signature of the Company to the extent permitted by applicable law. 
  

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 (b) The Company will comply in all material respects, with all acts, rules, regulations, orders, decrees
and directions of any governmental authority, applicable to the Collateral or any part thereof or to the operation of the Company’s business; provided, however, that the Company may contest any act, regulation, order, decree or direction in any
reasonable manner which shall not in the sole opinion of Holder adversely affect Holder’s rights or the first priority of its security interest in the Company. 
  
 (c) The Company will not, without its Board of Directors’ approval, create, permit or suffer to exist, and will defend
the Collateral against and take such other action as is necessary to remove, any lien or right, in or to the Collateral (other than those created hereunder) or the Proceeds thereof, other than (i) liens of current taxes not yet due and payable and
(ii) liens and encumbrances which do not in any case materially detract from the value of the Collateral. 
  
 Section 4. Remedies on Default. 
  
 (a) If any Event of Default shall occur and be continuing, Holder may exercise, in addition to all other rights and remedies granted to it in this
Security Agreement and in any other instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of secured parties under the Code. Without limiting the generality of the foregoing, the Company expressly
agrees that in any such event Holder, without demand of performance or other demand, advertisement or notice of any kind (except the notice specified below of time and place of public or private sale) to or upon the Company or any other person (all
and each of which demands, advertisements and/or notices are hereby expressly waived), may forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give options to
purchase, or sell or otherwise dispose of and deliver said Collateral (or contract to do so), or any part thereof, in one or more parcels at public or private sale or sales, for cash or on credit or for future delivery without assumption of any
credit risk. Holder shall provide ten (10) days prior notice of the time and place of any public or private sale. Holder shall have the right, to the extent permitted by law, upon any such public sale or sales, and, upon such private sale or sales,
to purchase the whole or any part of said Collateral so sold, free of any right or equity of redemption in the Company. 
  
 (b) If any Event of Default shall occur and be continuing, the Company expressly agrees that Holder shall have the right at any time, and in its sole
discretion, to notify any persons obligated to the Company to make payment directly to Holder of any and all amounts due or to become due thereon. 
  
 (c) The Company also agrees to pay all reasonable costs of Holder, including reasonable attorneys’ fees, incurred with respect to the collection of
any of the Obligations and the enforcement of any of its rights hereunder. 
  
 (d) Except as otherwise provided herein, the Company hereby waives presentment, demand, protest or any notice (to the extent permitted by applicable law) of any kind in connection with this Agreement or any
Collateral. 
  

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 Section 5. Severability. Any provision of this Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
  
 Section 6. No Waiver; Cumulative Remedies. Holder shall not by any act, delay, omission or otherwise, be deemed to have waived any of their rights or remedies hereunder; and no waiver shall be valid unless in
writing and signed by a Holder, and then only to the extent therein set forth. A waiver by Holder of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which Holder would otherwise have on any
future occasion. 
  
 Section 7. Notices. All notices or
other communications hereunder shall be in writing and mailed, sent or delivered to the respective parties hereto at or to the applicable address set forth in the Note, or as shall otherwise be designated by any party in a written notice to the
other parties hereto. All such notices and other communications shall be effective (i) if delivered by hand, when delivered; or (ii) if sent by mail, upon the earlier of the date of receipt or five business days after deposit in the mail, first
class. 
  
 Section 8. Entire Agreement; Amendment. This
Agreement contains the entire agreement of the Company and Holder with respect to the subject matter hereof and shall not be amended except by the written agreement of the Company and Holder. 
  
 Section 9. Successors and Assigns; Governing Law. This Agreement and
all obligations of the Company hereunder shall be binding upon the successors and assigns of the Company, and shall, together with the rights and remedies of Holder hereunder, inure to the benefit of Holder, all future Holders of the Note, and their
respective successors and assigns. This Agreement shall be governed by, and construed and interpreted in accordance with, the laws of the State of Florida, excluding any choice of law provisions. 
  
 Section 10. Termination. Upon payment and performance in full of all
obligations, this Agreement shall terminate and secured party shall promptly execute and deliver to Company such documents and instruments reasonably requested by Company as shall be necessary to evidence termination of all security interests given
by Company to Holder hereunder. 
  
 [SIGNATURES APPEAR ON
FOLLOWING PAGE] 
  

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 IN WITNESS WHEREOF, the undersigned has duly executed this Security Agreement as of the day and year
first above written. 
  

			
	GLOBAL MUSIC INTERNATIONAL, INC.
		
	By:	 	 /s/ Christopher Mauritz

	 	 	Christopher Mauritz, V.P.

  

 5Connecticut Bill of Sale of Personal Property, dated August 2, 2004

 EXHIBIT 10.5 
  
 Connecticut Bill of Sale of Personal Property 
  
 State of Connecticut         } 
 County of Danfield           } 
  
 KNOW ALL PERSONS BY THESE PRESENTS 
  
 THAT I, Corinne Fallacaro, Seller of all of the assets listed on Exhibit A attached hereto and made part hereof located at 20 Old Stagecoach Road, Redding, Connecticut 06896 in consideration of ten dollars and other
good and valuable consideration, the receipt of payment of which is hereby acknowledged, do hereby sell and transfer to Global Music International, Inc., Buyer of the assets listed on Exhibit A located at 20 Old Stagecoach Road, Redding, Connecticut
06896. The property set forth on Exhibit A has been clearly identified. 
  
 Seller warrants that she is the lawful owner in every respect of all of the described property and that it is free and clear of all liens, security agreements, encumbrances, claims, demands, and charges of every kind whatsoever. 

 
 Seller binds Seller, her successors and assigns to warrant and defend
title to all of the described property to Buyer, and its successors and assigns, forever against every person lawfully claiming the described property or any part of it. 
  
 This Bill of Sale shall be effective as to the transfer of all property listed in it as of July 28, 2004. 
  
 IN WITNESS HEREOF, this Bill of Sale is executed on August 2, 2004. 
  

			
	 Witness:
	  	 Seller:

		
	 /s/ Lisa Pismandi
	  	 /s/ Corinne Fallacaro

	 Witness’ Signature
	  	 Corinne Fallacaro

	  

	  	 
	 Witness’ Printed Name
	  	 

  
 ACKNOWLEDGMENT

  
 State of Connecticut         }

 County of Danfield           } 
  
 Before me, the undersigned authority, on this day appeared Corinne Fallacaro, known to me to be the person whose name is subscribed to the
foregoing instrument, and acknowledged to me that she executed the instrument for the purposes and consideration expressed in the instrument. Given under my hand and seal of office on August 2, 2004. 
  

	
	 /s/ Joan E. Lavery

	 NOTARY PUBLIC

	 My commission expires June 30, 2005

 EXHIBIT TO 
 BILL OF SALE, EFFECTIVE JULY 28, 2004 
  
 All assets of Independent Music Network, Inc. including, but not limited to, the following: 
  
 Servers, computers and equipment for website and office 
  

	1.	Foundry Server Iron load balancer Model fbsa (for 8 Servers) Ser# 7168 

  

	2.	Eight Pentium 3 web servers + 2 dual processor Pentium 3 database servers w/RAID array (250 Gig each) 

 The web servers and database servers run Windows 2000 Server Edition. (250 gig) 
 Built to spec (Internal #imn0031-38) 
  

	3.	Seven redundant mail and DNS servers running on similar hardware as the web servers, running Redhat Linux. (Internal# Imn0017-23) 

 (The site connected to a 100 megabit link to the internet using carrier class Cisco routers and Foundry Switch.) 
  

	4.	Seven Windows 2000 PC with 7 Sony g400 monitors running on an Intel Pentium 3 750mhz machine with 256mb RAM and 250 gig hard disk. (Internal# imn006-12) 

  

	5.	Twin Editing workstations for website and programs. (2)Mac G4 400mhz machines with 512mb RAM and 20gig hard drives on board with 250 gig external storage, with 2 Sony g500 monitors
Ser #Sxbo183x5hsg.....xbo183aahsg 

  

	6.	Umax Powerlook Scanner Model 1100 Ser# haroo5a000763 

  

	7.	Sony Beta SP Video player Ser# 12865 

  

	8.	Video Master editing and storage workstation, built to spec: 

  
 1 terabyte of disk storage 
 6 terabyte
external storage 
 1 gigabyte of memory 
 Pentium 4 processor 
 custom raid drive array 
 gigabit networking (Internal# imn03) 
  

	9.	HP color laserjet printer Model 4100. Ser#jphaeo8731 (2) HP laserjet b/w 2100 Ser#usgx070858    usgx070849 

	10.	Merlin Magix Phone system with 20 line capability with 20 phones, plus voice module. Ser#99dr11007408 

  

	11.	Cannon Multipass 6000 Fax, copier and scanner Ser# uxe34921 

  
 Programs, graphics & commercials 
  
 COMMERCIALS Run time Produced and edited by RDA International. (Ad Agency) and Sony 
  

					
	 1.
	  	Grand Finale	    	:30
	 2.
	  	Jukebox hero	    	:30
	 3.
	  	Hey Mickey	    	:30
	 4.
	  	Beatbox	    	:15
	 5.
	  	Jukebox hero	    	:15
	 6.
	  	Hey Mickey	    	:15
	 7.
	  	Diner	    	:15
	 8.
	  	Grand Finale	    	:45
	 9.
	  	Jukebox hero	    	:60
	 10.
	  	Hey Mickey	    	:60
	 11.
	  	Grand Finale International	    	:30
	 12
	  	Jukebox International	    	:30
	 13.
	  	Hey Mickey International	    	:30

  
 Program/Show 

 
 The program/show consists of : 
  
 637.5 Hours of continuous looped music video show (IMNTV) streaming on the website 24/7
Consisting of : 
  
 510 hours of music videos (Avg 15 per hour)

 127.5 hours of commercials and IMN graphics (avg 15 per hour) 
  
 Total time per hour is avg 45 min of music video and 15 min interspersed into show with IMN commercials and ident graphics. 
  
 Graphics Packages for show 
  
 Consist of 15 hours of master graphics prepared by Sony Studios 
 The masters are edited for 5 to 15 second segments for insertion into show/program. 
 Identified by Imn logo and rotating or fractured display of same. 

 Website 
  
 IMNTV and Get Huge - Trademarks 
  
 Domain name IMNTV.COM 
  
 Complete website as
viewed on site. 
  
 All backup of master site and shows on storage medium.

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