Document:

Exhibit
10.1

 

Deep
Green Waste & Recycling, Inc. and Amwaste, Inc.

 

ASSET
PURCHASE AGREEMENT

 

This
ASSET PURCHASE AGREEMENT (“Agreement”) is made as of February 8, 2021 by and between Amwaste, Inc., a Georgia corporation
(“Seller”) and DG Research, Inc., a Washington corporation (“Buyer”).

 

RECITALS

 

	 	A.	Seller
    owns and operates certain assets located in and around Glynn County, Georgia useful and necessary to its waste management
    business (the “Business”).
	 	 	 
	 	B.	Seller
    desires to sell and Buyer wishes to buy substantially all the assets used or useful in the operation of the Business for the
    price and on the terms set forth in this Agreement.

 

AGREEMENTS

 

In
consideration of the above recitals and of the mutual agreements and covenants contained herein, Buyer and Seller agree as follows:

 

SECTION
1. DEFINITIONS.

 

The
following terms as used in this Agreement, shall have the meanings set forth in this Section:

 

“Accounts
Receivable” means all rights of Seller to payment from the customers of the Business arising from Seller’s
operation of the Business prior to the Closing Date.

 

“Assets”
means all the tangible and intangible assets, real, personal, or mixed, owned or held by Seller and used or useful in the
business, including the Personal Property, Real Property, the Assumed Contracts and Grants of Authority, the Accounts Receivable,
the Intangibles, and all customer lists and relationships, and other information relating to the Business, but not including the
Excluded Assets.

 

“Assumed
Contracts and Grants of Authority” means (a) those Contracts and Grants of Authority listed in Schedule E hereto
designated by Buyer to indicate that they will be assumed by Buyer at Closing, and (b) and Contracts and Grants of Authority entered
into by Seller in the ordinary course of business between the date hereof and the Closing Date that Buyer expressly agrees to
assume at Closing.

 

    	 

    	 

    

 

“Business”
means the waste hauling enterprise of Seller as described in Exhibit A, inclusive of the Assets, customer and vendor relationships,
operating methods, brand, and any and all other elements of the enterprise used or useful in its operation.

 

“Closing”
means the consummation of the transaction contemplated by this Agreement in accordance with the provisions of Section 9.

 

“Closing
Date” means the date on which the Closing occurs, as determined pursuant to Section 9.

 

“Consents”
means the consents, permits, or approvals of third parties, including governmental authorities, necessary to transfer any
of the Assets to Buyer or otherwise to consummate the transaction contemplated hereby.

 

“Contracts”
means all contracts, leases, non-governmental licenses, and other agreements (including leases for personal or real property
and employment agreements), written or oral, including any amendments or other modifications thereto, that relate to the Assets
or the operation of any aspect of the Business, including, without limitation, those described in Schedule E hereto, together
with any additions thereto between the date hereof and the Closing Date.

 

“Effective
Time” means 12:01 a.m. local Georgia time, on the Closing Date.

 

“Environmental
Law” has the meaning set forth in Section 3.4 below.

 

“Excluded
Assets” means:

 

	 	(a)	Seller’s
    cash on hand or in any of Seller’s bank accounts as of the Effective Time;
	 	 	 
	 	(b)	Any
    insurance policies, bonds, letters of credit, or other similar items of Seller, and any cash surrender value in regard thereto;
	 	 	 
	 	(c)	All
    books and records that Seller is required by law to retain or that relate solely to internal corporate matters;
	 	 	 
	 	(d)	All
    claims, rights, and interest in and to any refund for federal, state, or local franchise, income, or other taxes or fees of
    any nature whatsoever for periods prior to the Effective Time; and
	 	 	 
	 	(e)	Any
    pension, profit sharing, or employee benefit plans.

 

“Grants
of Authority” means any and all municipal, state, and federal grants of authority and applications therefore, which
are used or useful in connection with the operation of the Business, including those listed on Schedule E, together with any additions
thereto between the date hereof and the Closing Date.

 

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“Hazardous
Material” has the meaning set forth in Section 3.5 below.

 

“Intangibles”
means all copyrights, trademarks, service marks, trade names, licenses, patents, permits, privileges, proprietary information,
technical information and data, trade secrets, machinery and equipment warranties, and all other intangible property rights and
interests, whether or not applied for by, or issued to, Seller or under which Seller is licensed or franchised and used or which
are, or may be, useful in, or in any way related to, the business and operations of the Business, including those listed in Schedule
G hereto, together with any additions thereto between the date hereof and the Closing Date, and all goodwill relating to all of
the foregoing .

 

“Personal
Property” means all machinery, equipment, tools, vehicles, furniture, leasehold improvements, office equipment,
, inventory, and other tangible personal property used or useful in the operation of the Business , including the property identified
and described in Schedule D hereto and all data files, plans, diagrams, blueprints, schematics, and books and records relating
to the operation of the Business, filings with governmental agencies, and executed copies of the Contracts and Grants of Authority,
together with any additions thereto between the date hereof and the Closing Date.

 

“Purchase
Price” has the meaning set forth in Section 2.2 below.

 

“Real
Property” means all real estate and all interest in real property, including all leaseholds, easements, licenses
used or useful in the operation of the Business, including the property identified and described in Schedule C hereto, together
with any additions thereto between the date hereof and the Closing Date.

 

“Shareholders”
means Richard B. and Julia S. Jones, which are all the shareholders of Seller.

 

SECTION
2. SALE AND PURCHASE OF ASSETS.

 

	2.1.	Agreement
    to Sell and Buy. Subject to the terms and conditions set forth in this Agreement, Seller hereby agrees to transfer
    and deliver to Buyer on the Closing Date, and Buyer agrees to purchase, the Assets, free and clear of any liabilities, liens,
    security interests, pledges, conditions or encumbrances (except for those permitted in accordance with Sections 3.5 and 3.6
    below).
	 	 
	2.2	Purchase
    Price. The total consideration to be paid for the Assets shall be One Hundred Fifty Thousand Dollars ($150,000.00)
    and Two Million (2,000,000) shares of Deep Green Waste & Recycling, Inc. common stock (ticker “DGWR”) (the
    “Purchase Price”), subject to adjustments as provided below:

 

	 	(a)	Purchase
    Price and Prorations. The Purchase Price shall be adjusted as provided in this Section to give effect to the proration
    between Buyer and Seller of all revenues and expenses arising from the operation of the Business. The expenses to be prorated
    shall include business, franchise, and license fees (including any retroactive adjustments thereof), utility charges, real
    and personal property taxes and assessments levied against the Assets, property and equipment rentals, amounts due under any
    of the Assumed Contracts and Grants of Authority and taxes. The proration shall be made in accordance with the principle that
    Seller shall receive all revenues and be responsible for all expenses, costs, and liabilities allocable to the period prior
    to the Effective Time, and Buyer shall receive all revenues and be responsible for all expenses, costs, and obligations allocable
    to the period after the Effective Time, except that there shall be no adjustment and Seller shall remain solely liable with
    respect to any obligation or liability not being assumed by Buyer in accordance with Section 2.4.

 

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	 	(b)	Adjustments
    for Customer Deposits and Prepayments. The Purchase Price shall be adjusted further by deducting therefrom the amount
    of any customers’ deposits and prepayments, as disclosed in Exhibit B, the responsibility for which is assumed by Buyer
    under this Agreement.

 

	2.3	Payment
    of Purchase Price. The Purchase Price shall be determined, insofar as feasible, on the Closing Date, and paid as follows:

 

	 	(a)	Payment
    at Closing. Buyer shall pay to Seller the Purchase Price, as determined on the Closing Date, in the following manner:

 

	 	(1)	Cash
    consideration of Fifty Thousand Dollars ($50,000.00) by check or federal wire transfer to a bank which shall be designated
    by Seller at least two days prior to the date such payment becomes due under Section 2.3(c) below.

 

	 	(2)	One
    Hundred Thousand Dollars ($110,000) by the execution of the Promissory Note, attached hereto as Exhibit “C” and
    hereby incorporated by reference with simple interest thereupon at the rate of six percent (6%) per annum on the outstanding
    balance due, payable in full thirty (30) days after Closing, which may be prepaid at any time without penalty and which may
    be extended for one additional thirty (30) day period by mutual agreement of Seller and Buyer, and which shall be secured
    by the acquired assets. If the Promissory Note is paid within thirty (30) days after Closing, it will be discounted by Ten
    Thousand Dollars ($10,000.00) so that the principal due and payable shall be One Hundred Thousand Dollars ($100,000.00), and

 

    	 	4	 

    	 	 	 

    

 

	 	(3)	Two
    Million shares of DGWR common stock shall be issued by Buyer’s letter of authorization to its transfer agent on the
    Closing Date.

 

	 	i.	Issued
    shares shall be included in the Buyer’s first S-1 or Reg-A registration statement that will be filed with the SEC within
    120 days.

 

	 	ii.	Issued
    shares shall be registered with the Buyer’s transfer agent in the name of “Richard B. Jones and Julia S. Jones,
    joint tenants with right of survivorship”

 

(b)
Final Determination of Purchase Price. The Purchase Price, taking into account all adjustments and prorations, will be
determined finally, and additional payment by Buyer to Seller or refund by Seller to Buyer, as appropriate, will be made, in accordance
with the following procedures:

 

	 	(1)	Within
    60 days after the Closing Date, Buyer will deliver to Seller a statement setting forth Buyer’s determination of the
    amount of the Purchase Price and the calculation thereof, taking into account all prorations. If Seller disputes the amount
    of the Purchase Price determined by Buyer, Seller shall deliver to Buyer within 30 days after his receipt of Buyer’s
    statement a statement setting forth his determination of the amount thereof. If Seller notifies Buyer of his acceptance of
    Buyer’s statement, or if Seller otherwise fails to deliver his own statement within the 30-day period specified in the
    preceding sentence, then Buyer’s determination shall be final, and payment shall be made thereon.
	 	 	 
	 	(2)	Buyer
    and Seller shall use their good faith efforts to resolve any dispute involving the determination of the Purchase Price. If
    the parties are unable to resolve the dispute within 15 days following the delivery of Seller’s statement, each of Buyer
    and Seller shall select an independent arbitrator who shall be knowledgeable and experienced in the operation of the Business,
    and the two arbitrators so chosen shall attempt to resolve the dispute. If they are not able to do so within 45 days following
    the delivery of Seller’s statement, the two arbitrators shall agree upon a third arbitrator and the dispute shall be
    resolved by the decision of the majority of the arbitrators, which shall be conclusive and binding on the parties. Any fees
    of the arbitrators shall be split equally between the parties.

 

(c)
Allocation of Purchase Price. The Purchase Price shall be allocated as set forth on IRS Form 8594, attached hereto as Exhibit
A.

 

	2.4	Assumption
    of Liabilities and Obligations. 

 

	 	(a)	Assumption.
    Except as provided in paragraph (b) of this Section 2.4, as of the Effective Time, Buyer shall assume and undertake to pay,
    discharge, and perform all obligations and liabilities arising out of events occurring after the Effective Time related to
    Buyer’s ownership of the Assets or its operation of the Business after the Effective Time, including, insofar as they
    relate to the period after the Effective Time and arise out of events occurring after the Effective Time, all the obligations
    and liabilities of Seller under the Assumed Contracts and Grants of Authority. Buyer shall also assume Seller’s obligations
    and liabilities as of the Effective Time with respect to customer deposits and prepayments from customers. Other than as specified
    herein, Buyer shall assume no obligations or liabilities of Seller.

 

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	 	(b)	Limitation.
    Notwithstanding any provision of this Agreement to the contrary, Buyer shall not assume: (1) any obligations or liabilities
    under any Contract or Grant of Authority not included in the Assumed Contracts and Grants of Authority; (2) any obligations
    or liabilities under the Assumed Contracts and Grants of Authority relating to the time period prior to the Effective Time;
    (3) any claims or pending litigation or proceedings relating to any action with respect to the operation of the Business prior
    to the Effective Time; (4) any obligation or liabilities arising under capitalized leases or other financing agreements; (5)
    any obligations or liabilities of Seller under collective bargaining agreements, multi-employer plans or any other employee
    benefit plan of Seller; and (6) any obligations or liabilities caused by, arising out of, or resulting from any action or
    omission of Seller prior to the Effective Time, and all such obligations and liabilities shall remain and be the obligations
    and liabilities solely of Seller.

 

	2.5	Employees.
    To the extent Seller has employees, Seller shall terminate such employees working in the business effective as the close
    of business the day before the Closing and Seller shall be responsible without exception for all compensation, taxes, insurance,
    accrued sick and vacation days and other benefits and amounts relating to such employees, and Seller shall indemnify, defend
    and hold harmless Buyer from any claims made against Buyer with respect to such obligations. Buyer shall not assume or in
    any way become responsible or liable for any compensation, taxes, insurance or other benefits and amounts payable by Seller
    on account of such employees. Seller and Buyer shall coordinate their efforts with respect to Seller’s termination of
    the employees so that the employees will receive notice of their termination by Seller and the possibility of employment with
    Buyer at substantially the same time. Prior to the Closing, but without any obligation to do so, Buyer shall endeavor to enter
    into employment agreements with all such employees whom Buyer desires to employ following the Closing.

 

SECTION
3.REPRESENTATIONS AND WARRANTIES OF SELLER

 

Seller
represents and warrants to Buyer as follows:

 

	3.1	Organization,
    Standing, and Authority. Seller is a corporation organized, validly existing, and in good standing under the laws
    of the State of Georgia. Seller has the requisite corporate power and authority to: (a) own, lease, and use the Assets as
    now owned, leased, and used; (b) conduct the business of operating the Business as now conducted; (c) execute, deliver, and
    perform this Agreement and the documents contemplated hereby according to their respective terms; and (d) transfer the Assets
    in accordance with the terms and conditions of this Agreement. Seller is not a participant in any joint venture or partnership
    with any other person or party with respect to the Business or any part of the Assets.

 

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	3.2	Authorization
    and Binding Obligation. The execution, delivery, and performance of this Agreement by Seller have been duly authorized
    by all necessary corporate actions, including stockholder approval if required, on the part of Seller. This Agreement has
    been duly executed and delivered by Seller and constitutes the legal, valid, and binding obligation of Seller, enforceable
    against Seller in accordance with its terms except as the enforceability hereof may be affected by bankruptcy, insolvency,
    or similar law affecting creditors’ rights generally and by judicial discretion in the enforcement of equitable remedies.
	 	 
	3.3	Absence
    of Conflicting Agreements or Consents. Subject to obtaining those Consents listed on Schedule F, the execution, delivery,
    and performance of this Agreement, and the documents contemplated hereby (with or without the giving of notice, the lapse
    of time, or both): (a) do not require the consent of any third party; (b) will not conflict with any provision of the Articles
    of Incorporation or By-Laws of Seller; (c) will not conflict with, result in a breach of, or constitute a default under any
    applicable law, judgment, order, ordinance, injunction, decree, rule, regulation, or ruling of any court or governmental instrumentality;
    (d) will not conflict with, constitute grounds for termination of, result in a breach of, constitute a default under, or accelerate
    or permit the acceleration of any performance requirement by the terms of any agreement, governmental authority, instrument,
    license, or permit to which Seller is a party or by which Seller is bound; and (e) will not create any claim, lien, charge,
    or encumbrance upon any of the Assets.
	 	 
	3.4	Real
    Property. Schedule C contains a complete description of all Real Property and Seller’s interests therein, including
    street address, legal description, owner, and use. None of the Real Property is subject to any lien, mortgage, pledge, covenant,
    easement, restriction, encroachment, lease, charge, or other claim or encumbrance of any nature whatsoever that would adversely
    affect the use or usefulness of the Real Property in the operation of the Business. Seller has delivered to Buyer true and
    complete copies of all leases or other instruments pertaining to the Real Property. All leases pertaining to the Real Property
    are, or prior to Closing will be, in recordable form. All Real Property is marketable, in good condition and repair consistent
    with its present use, and available for immediate use in the conduct of the business and operations of the Business. Seller
    has full legal and practical access to all Real Property. All easements, rights of way, and real property licenses have been
    properly recorded in the appropriate public recording offices. The Real Property described in Schedule C includes all easements,
    rights of way, and other real property interests necessary to conduct the business as it is now conducted. No Hazardous Material
    (as defined below) has been used, generated, manufactured, stored, treated, released or disposed of by Seller, or to Seller’s
    actual knowledge without inquiry, by any other party, at, in, on or under the Real Property leased or owned by Seller for
    the business of operation of the Business in violation of Environmental Law (as defined below). The term “Hazardous
    Material” means any substance or material that is or becomes regulated, defined or designated by any federal, state
    or local governmental authority as hazardous, extremely hazardous, imminently hazardous, dangerous or toxic, or as a pollutant,
    contaminant or waste, and shall include, without limitation, PCBs, asbestos, asbestos containing materials, oil and petroleum
    products and byproducts. The term, “Environmental Law” means all current and future federal, state and local statutes,
    regulations, ordinances and rules relating to (1) the emission, discharge, release or threatened release of Hazardous Material
    into the air, surface water, groundwater or land; (ii) the manufacturing, processing, use, generation, treatment, storage,
    disposal, transportation, handling, removal, remediation or investigation of Hazardous Material; or (iii) the protection of
    human health, safety or the indoor or outdoor environment, including without limitation, the Clean Air Act, the Federal Water
    Pollution Control Act, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation
    and Liability Act, the Occupational Safety and Health Act, all amendments thereto, all regulations promulgated thereunder,
    and their state statutory and regulatory counterparts. The zoning classifications of the leased properties on which the Business
    operates permit the operation of the Business. The improvements on such leased properties have been constructed and are presently
    used and operated in compliance with all licenses and all legal requirements, and with all covenants, easements and restrictions
    affecting those properties, and all obligations of Seller with regard to the legal requirements, covenants, easements and
    restrictions have been and are being performed in a proper and timely manner.

 

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	3.5	Personal
    Property. Without material exception, Schedule D contains descriptions of all Personal Property. Except as set forth
    in Schedule D, Seller owns and has good title to each item of Personal Property, and none of the Personal Property is subject
    to any security interest, mortgage, pledge, conditional sales agreement, or other lien or encumbrance, except for liens for
    current taxes not yet due and payable. The Personal Property is in good operating condition and repair (ordinary wear and
    tear excepted) and is available for immediate use in the operations of the Business. The Personal Property listed in Schedule
    D includes all personal property necessary to conduct the Business as it is now conducted.
	 	 
	3.6	Contracts
    and Grants of Authority. The Contracts and Grants of Authority listed in Schedule E comprise all Contracts and Grants
    of Authority used or useful in the operation of the Business, except Contracts entered into in the ordinary course of business
    that do not involve payments or receipts by Seller in excess of $1,000 individually or $5,000 in the aggregate. Seller has
    delivered to Buyer true and complete copies of all Contracts and Grants of Authority. Other than the Contracts and Grants
    of Authority listed on Schedule E, Seller requires no contract, grant of authority, permit, lease, or other agreement to enable
    it to carry on its business as now conducted. All the Contracts and Grants of Authority are, and all Assumed Contract and
    Grants of Authority will be, as of the Closing Date, in full force and effect and are valid, binding, and enforceable in accordance
    with their terms. There is not under any Contract of Grant of Authority any default by any party thereto (including Seller)
    or any event that, after notice or lapse of time or both, would constitute a default. Seller is not aware of any intent by
    any party to any Contract or Grant of Authority: (a) to terminate or amend the terms thereof; (b) to refuse to renew the Contract
    or Grant of Authority upon expiration of its terms; or (c) to renew the Contract or Grant of Authority upon expiration only
    on terms and conditions that could be less advantageous to the Business than those currently pertaining. Except for the need
    to obtain those Consents listed in Schedule F, Seller has full legal power and authority to assign its rights under the Contracts
    and Grants of Authority to Buyer in accordance with this Agreement, and the assignment of the Contracts and Grants of Authority
    to Buyer will not affect the validity, enforceability, or continuation of any of the Contracts or Grants of Authority. Except
    as set forth on Schedule F, no Contract contains any unfulfilled requirement that Seller make any capital expenditures.
	 	 
	3.7	Consents.
    Except for those Consents listed in Schedule F, no consent, approval, permit, or authorization or declaration to or filing
    with any governmental or regulatory authority or any other third party is required: (a) to render this Agreement and the transactions
    contemplated hereby valid and effective; (b) to permit this Agreement and the transactions contemplated hereby to be consummated;
    (c) to permit Seller to assign or transfer the Assets (including each of the Contracts and Grants of Authority) to Buyer;
    or (d) to enable Buyer to operate the Business in essentially the same manner that it is now conducted. Seller reasonably
    believes that all Consents will be obtained.
	 	 
	3.8	Intangibles.
    Schedule G is a true and complete list of all the Intangibles (exclusive of those required to be listed in Schedule B), all
    of which are valid, in good standing, and uncontested. Seller has delivered to Buyer copies of all documents establishing
    the Intangibles. Seller is not infringing upon or otherwise acting adversely to any trademarks, trade names, copyrights, patents,
    patent applications, know-how, methods, or processes owned by any other person or persons, and there is no claim or action
    pending, or to the knowledge of Seller threatened, with respect thereto.
	 	 
	3.9	Financial
    Statements and Tax Returns. Schedule H contains copies of the following financial statements of Seller, all of which
    are complete and correct, have been prepared from the books and records of Seller in accordance with generally accepted accounting
    principles consistently applied and maintained throughout the periods indicated, accurately reflect the books, records, and
    accounts of the Business, and present fairly the financial condition, assets, liabilities, and results of operation of the
    Business as at their respective dates and the results of operations for the periods then ended:

 

	 	(a)	Balance
    Sheets, as at December 31, 2020;

 

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	 	(b)	Statements
    of Income and Expense, for the twelve-month periods ended December 31, 2020; and

 

	 	(c)	Tax
    returns for the years 2018 and 2019.

 

None
of the foregoing financial statements understates the true costs and expenses of conducting the Business, fails to disclose any
material contingent liability, or inflates the revenues of the Business for any reason.

 

Seller
has filed, in accordance with applicable law, all federal, state, county and local income and sales and use tax returns and all
real and personal property tax returns that are required to be filed. The information shown on the federal income tax returns
delivered to Buyer is true, accurate, and complete and fairly presents the information purported to be shown. Seller has paid,
or shall pay prior to the date it is due, all taxes owed by Seller on account of the Business.

 

	3.10	Insurance.
    Schedule I is a true and complete list of all policies of insurance owned by Seller that insure any part of the Assets
    or the Business. All policies of insurance listed in Schedule I are in full force and effect. The insurance policies listed
    in Schedule I are adequate in amount with respect to, and for the full value (subject to customary deductibles) of the Assets
    and insure the Assets and the Business against all foreseeable risk. No insurance policy of Seller has been canceled and no
    application of Seller for any insurance policy has been rejected during the past three years.

 

	3.12	Personnel. Schedule J is a true and complete
list of all employees of Seller.

 

	 	(a)	Plans.
    Seller does not maintain, nor has it at any time established or maintained, nor has it at any time been obligated to make,
    nor has made, contributions to or under any plan which provides post-retirement medical or health benefits with respect to
    employees or former employees of Seller. Seller has complied, and will have, as of the Closing, complied with the Worker Adjustment
    and Retraining Notification Act (WARN Act) in connection with the termination of Seller’s employees.

 

	 	(b)	Agreements
    and Collective Bargaining. Seller is not a party to or subject to any collective bargaining agreement, multi-employer
    pension fund or other labor union agreement with respect to any persons employed by Seller in connection with Seller’s
    operation of the Assets and with respect to the Business. Seller has no written or oral contracts of employment with any employee
    of the Business, other than those listed in Schedule E. No controversies, disputes, or proceedings are pending or, to the
    best of its knowledge, threatened, between it and any employees (singly or collectively) of the Business. No labor union or
    other collective bargaining unit represents or claims to represent any of the employees of the Business. There is no union
    campaign being conducted to solicit cards from employees to authorize a union to request a national labor Relations Board
    certification election with respect to any employees of the Business.

 

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	 	(c)	Liabilities.
    Seller has no liability of any kind to or in respect of any employee benefit plan, including withdrawal liability under Section
    4201 of ERISA. Seller has not incurred any accumulated funding deficiency within the meaning of ERISA or Section 4971 of the
    Internal Revenue Code of 1986. Seller has not failed to make any required contributions to any employee benefit plan. The
    Pension Benefit Guaranty Corporation has not asserted that Seller has incurred any liability in connection with any such plan.
    No lien has been attached and no person has threatened to attach a lien on any property of the Seller as a result of a failure
    to comply with ERISA.

 

	3.13	Claims
    and Legal Actions. Except as set forth in schedule K there is no claim, legal action, counterclaim, suit, arbitration,
    governmental investigation, or other legal, administrative, or tax proceeding, nor any order, decree, or judgment, in progress
    or pending, or, to the knowledge of Seller, threatened, against or relating to Seller, its properties, the Assets, or the
    Business, nor does Seller know or have reason to be aware of any basis for the same. There are no governmental investigations
    or other legal, administrative, or tax proceedings pursuant to which Seller is or could be made liable for any taxes, penalties,
    interest, or other charges, the liability for which could extend to Buyer as transferee of the Business.

 

	3.14	Compliance
    with Laws. In its operation of the Business and its ownership and maintenance of the Assets, Seller has complied and
    is complying fully with the terms of all Governmental Licenses and Grants of Authority and with all laws, rules, regulations,
    and ordinances, including all trademark, trade name, or copyright rules and regulations, all building and zoning laws, codes,
    and regulations, and all laws relating to the employment of labor. Neither the ownership nor use of Seller’s properties
    nor the conduct of its business conflicts with the rights of any other person or entity.

 

	3.15	Conduct
    of Business in Ordinary Course; Adverse Change. Since December 31, 2019, Seller has conducted the Business only in
    the ordinary course and has not:

 

	 	(a)	Adverse
    Change. Suffered any material adverse change in the business, assets, properties, prospects, or condition (financial or
    otherwise) of Seller or the Business, or any damage, destruction, or loss affecting any of the Assets used or useful in the
    conduct of the Business;

 

	 	(b)	Liens.
    Created, assumed, or suffered any mortgage, pledge, lien, or encumbrance on any of the Assets;

 

	 	(c)	Employee
    Compensation. Suffered any material increase in compensation payable or to become payable to any of the employees of Seller,
    or any bonus payment made or promised to any employee of Seller, or any material change in personnel policies, insurance benefits,
    or other compensation arrangements affecting the employees of Seller;

 

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	 	(d)	Dispositions.
    Suffered any sale, assignment, lease, material depletion of inventory, or other transfer of any of Seller’s properties
    without suitable replacements being obtained therefore;

 

	 	(e)	Cancellation
    of Debts. Cancelled any debts owed to or claims held by Seller;

 

	 	(f)	Write-Down.
    Suffered any significant write-down of the value of any Assets or any significant write-off as uncollectible of any Accounts
    Receivable; and

 

	 	(g)	Rights.
    Transferred or granted any right under, or entered into any settlement regarding the breach or infringement of, any license,
    patent, copyright, trademark, trade name, grant of authority, or other intellectual property or proprietary right, or modified
    any existing right relating to the Business.

 

	3.16.	Information
    Regarding the Business 

 

Accounts.
All the account balances of customers to the Business are actual and bona fide receivables representing obligations for the total
dollar amount thereof, as shown on the books of Seller, resulted from the regular course of the Seller’s business, and are
fully collectible in accordance with their terms, subject to no offset or reduction whatsoever. Seller has no monetary obligations
or liabilities to any of its customers except with respect to the deposits and prepayments disclosed in Exhibit C. Uncollectable
Accounts Receivable may be set off by Buyer pursuant to the terms of the Indemnity Escrow Agreement.

 

3.17
Broker. Neither Seller nor any person or entity acting on its behalf has agreed to pay a commission, finder’s
fee, or similar payment in connection with this Agreement or any matter related hereto to any person or entity which would accrue
to Buyer, nor has it or any person or entity acting on its behalf taken any action on which a claim for any such payment could
be based.

 

3.18
Full Disclosure. No representation or warranty made by Seller in this Agreement or in any certificate, document, or
other instrument furnished or to be furnished by Seller or Shareholder pursuant hereto contains or will contain any untrue statement
of a material fact, or omits or will omit to state any material fact required to make any statement contained herein or therein
not misleading. Seller is not aware of any impending or contemplated event or occurrence that would cause any of the foregoing
representations not to be true and complete on the date of such event or occurrence as if made on that date.

 

    	11

    	 

    

 

SECTION
4. REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer
represents and warrants to Seller as follows:

 

	4.1	Organization,
    Standing, and Authority. Buyer is a corporation duly organized, validly existing, and in good standing under the laws
    of the State of Washington. On the Closing Date, Buyer will be duly qualified to conduct its business in the State of Georgia.
    Buyer has the requisite power and authority to execute, deliver, and perform this Agreement and the documents contemplated
    hereby according to their respective terms.
	 	 
	4.2	Authorization
    and Binding Obligation. The execution, delivery, and performance of this Agreement by Buyer have been duly authorized
    by all necessary action on the part of Buyer. This Agreement has been duly executed and delivered by Buyer and constitutes
    a legal, valid, and binding obligation of Buyer, enforceable against Buyer in accordance with its terms except as the enforceability
    hereof may be affected by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally and by judicial
    discretion in the enforcement of equitable remedies.
	 	 
	4.3	Absence
    of Conflicting Agreements and Required Consents. Subject to obtaining the Consents, the execution, delivery, and performance
    of this Agreement and the documents contemplated hereby (with or without the giving of notice, the lapse of time, or both):
    (a) do not require the consent of any third party; (b) will not conflict with the by-laws of the Buyer; (c) will not conflict
    with, result in a breach of, or constitute a default under, any applicable law, judgment, order, ordinance, injunction, decree,
    rule, regulation, or ruling of any court or governmental instrumentality; and (d) will not conflict with, constitute grounds
    for termination of, result in a breach of, constitute a default under, or accelerate or permit the acceleration of any performance
    required by the terms of any agreement, instrument, license or permit to which Buyer is a party or by which Buyer may be bound,
    such that Buyer could not acquire or operate the Assets.
	 	 
	4.4	Broker.
    Neither Buyer nor any person or entity acting on its behalf has agreed to pay a commission, finder’s fee, or similar
    payment in connection with this Agreement or any matter related hereto to any person or entity, nor has it or any person or
    entity acting on its behalf taken any action on which a claim for any such payment could be based.
	 	 
	4.5	Full
    Disclosure. No representation or warranty made by Buyer in this Agreement or in any certificate, document, or other
    instrument furnished or to be furnished by Buyer pursuant hereto contains or will contain any untrue statement of a material
    fact, or omits or will omit to state any material fact required to make any statement contained herein or therein not misleading.
    Buyer is not aware of any impending or contemplated event or occurrence that would cause any of the foregoing representations
    not to be true and complete on the date of such event or occurrence as if made on that date.

 

    	12

    	 

    

 

SECTION
5. COVENANTS OF SELLER

 

	5.1	Pre-Closing
    Covenants. Seller covenants and agrees that from and after the close of the financial period ending December 31, 2020
    as reflected by the financial statements provided pursuant to Section 3.10 above and between the date hereof and the Closing
    Date, Seller has conducted, and will have conducted, its business diligently, in the ordinary course, and in such a manner
    so that the representations and warranties contained in Section 3 shall continue to be true on and as of the Closing Date
    as if made on and as of the Closing Date, and, except with the prior written consent of Buyer, Seller has acted, and will,
    from the date of this Agreement, act, in accordance with the following:

 

	 	(a)	Contracts.
    Seller will not enter into any contract or commitment relating to the Business or the Assets, or amend or terminate any Contract
    of Grant of Authority (or waive any substantial right thereunder), or incur any obligation (including obligations relating
    to the borrowing of money or guarantee of indebtedness).

 

	 	(b)	Encumbrances.
    Seller will not create, assume, or permit to exist any mortgage, pledge, lien, or other charge or encumbrance of rights affecting
    any of the Assets, except for those in existence on the date of this Agreement and disclosed in Schedules B and C and except
    for mechanics’ liens and other similar liens which will be discharged prior to the Closing Date.

 

	 	(c)	Dispositions.
    Seller will not sell, assign, lease, or otherwise transfer or dispose of any of the Assets except in the ordinary course of
    business where no longer used or useful or in connection with the acquisition of replacement property of equivalent kind and
    value.

 

	 	(d)	Grants
    of Authority. Seller will not cause or permit, by any act or failure to act, any of the Grants of Authority to expire
    or to be surrendered or modified, or take any action that would cause any governmental authority to institute proceedings
    for the suspension, revocation, or adverse modification of any of the Grants of Authority, or fail to prosecute with due diligence
    any pending applications to any governmental authority in connection with the operation of the Business, or take any other
    action within its control that would result in the Business being in noncompliance with the requirements of any law, the rules
    and regulations of any governmental authority, or the terms of any Grant of Authority.

 

	 	(e)	Consents.
    Seller will obtain the Consents, without any change in the terms or conditions of any Contract that could be less advantageous
    to the Business than those pertaining under the Contract as in effect on the date hereof. Seller will promptly advise Buyer
    of any difficulties experienced in obtaining any of the Consents and of any conditions proposed, considered, or requested
    for any of the Consents.

 

    	13

    	 

    

 

	 	(f)	Books.
    Seller will maintain the books and records of the Business in accordance with prior practice.

 

	 	(g)	Access
    to Information. Seller will give to Buyer and its counsel, accountants, engineers, and other authorized representatives,
    reasonable access to the Assets, to the officers, employees, and agents of Seller, and to all books and records relating thereto,
    and will furnish or cause to be furnished to Buyer and its authorized representatives all information relating to the Assets
    and Seller that they reasonably request (including any financial reports and operations reports produced with respect to the
    Business).

 

	 	(h)	Notification.
    Seller will give Buyer prompt written notice of any material change in any of the information contained in its representations
    and warranties in this Agreement or in the Schedules referred to herein and of any occurrence involving the Business or any
    Assets and not arising in the ordinary course of the Business.

 

	 	(i)	Maintenance
    of Assets. Seller will maintain all of the Business’s property and Assets or replacements thereof in their present
    condition as represented in this Agreement, ordinary wear and tear excepted. Seller will maintain supplies of inventory and
    spare parts consistent with past practice. If any loss, damage, impairment, confiscation, or condemnation to any of the Assets
    occurs, Seller shall repair, replace, or restore the Assets to their prior condition as represented herein as soon thereafter
    as possible, and Seller will use the proceeds of any claim under any insurance policy solely to repair, replace, or restore
    any of the Assets that are lost, damaged, impaired, or destroyed.

 

	 	(j)	Compliance
    with Laws. Seller will comply with all laws, rules, and regulations. Upon receipt of notice of violation of any law, rule,
    or regulation, Seller will contest in good faith or cure the violation prior to the Closing Date.

 

	 	(k)	Insurance.
    Seller will maintain in force the existing hazard and liability insurance policies, or comparable coverage, for the Business
    and the Assets as set forth in Schedule I hereto, and it will use the proceeds of any claims for loss payable under those
    insurance policies to repair, replace, or restore any of the Assets destroyed by fire or other casualty to their former condition
    as soon as possible after the loss.

 

	 	(l)	Financial
    Information. Within fifteen days after the close of each calendar month, Seller will furnish to Buyer an unaudited statement
    of income and expense of Seller for the month and an unaudited balance sheet of Seller as at the close of the month. The financial
    statements to be delivered hereunder shall be complete and correct, shall be prepared in accordance with generally accepted
    accounting principles applied and maintained on a basis consistent with prior periods, shall accurately reflect the books,
    records, and accounts of the Business, and shall present fairly the financial condition, assets, liabilities, and results
    of operations of the Business as of the dates and for the periods indicated. Seller shall furnish to Buyer as it becomes available
    any other information prepared by Seller concerning the financial condition of the Business.

 

    	14

    	 

    

 

	 	(m)	Preservation
    of Business. Seller will preserve the business and organization of the Business intact and use its best efforts to keep
    available to the Business its present employees and to preserve for the Business its present relationships with suppliers
    and customers and others having business relations with them, to the end that the business, operations, and prospects of the
    Business shall be unimpaired at the Closing Date. The ordinary and customary operating, marketing, promotional, sales, and
    advertising practices of the Business shall be maintained.

 

	 	(n)	Collection
    of Accounts Receivable. Seller shall collect its Accounts Receivable only in the ordinary course consistent with its past
    practices and without extraordinary efforts of any kind.

 

	 	(o)	Rates.
    Seller will not directly or indirectly modify or amend any rate, charge, deposit, or other material condition under which
    it does business with its customers and potential customers.

 

	 	(p)	No
    Inconsistent Action. Seller will not take any action that is inconsistent with its obligations under this Agreement or
    that could hinder or delay the consummation of the transactions contemplated by this Agreement.

 

	 	(q)	Financing
    Leases. Seller will satisfy prior to Closing all outstanding obligations under capital and financing leases with respect
    to any of the Assets and obtain good title to the Assets leased by Seller pursuant to those leases so that those Assets shall
    be transferred to Buyer at Closing free of any interest of the lessors.

 

	5.2	Closing
    Covenant. On the Closing Date, if the conditions set forth in Section 8.2 have been satisfied, Seller shall transfer,
    convey, assign, and deliver to Buyer the Assets as provided in Section 2 of this Agreement and make the deliveries provided
    in Section 9.2 of this Agreement.
	 	 
	5.3	Post-Closing Covenant. For a period of up to ninety (90) days after the Closing Date, Seller, at Seller’s
expense, shall make available to Buyer the Shareholders of Seller as may be requested by Buyer to assist in the migration of the
Business of Seller to Buyer.

 

SECTION
6. CLOSING COVENANT OF BUYER

 

On
the Closing Date, if the conditions set forth in Section 8.1 have been satisfied, Buyer shall purchase the Assets from Seller
as provided in Section 2 of this Agreement and shall make the deliveries provided in Section 9.3 of this Agreement.

 

    	15

    	 

    

 

SECTION
7. SPECIAL COVENANTS AND AGREEMENTS

 

	7.1	Risk
    of Loss. The risk of any loss, damage, impairment, confiscation, or condemnation of any of the Assets from any cause
    whatsoever shall be borne by Seller at all times prior to the Closing.

 

	7.2	Bulk
    Sales Law. If applicable, the bulk sales law of the State of Georgia shall be complied with by Seller. Any loss, liability,
    obligation, or cost suffered by Seller or Buyer as the result of the failure of any party to comply with the provisions of
    any bulk sales law applicable to the transfer of the Assets as contemplated by this Agreement shall be borne by Seller.

 

	7.3	Confidentiality.
    Each party hereto will keep confidential any information obtained from the other party in connection with the transactions
    contemplated by this Agreement, except as and to the extent required by applicable law and, in the case of Buyer, as disclosure
    may be reasonably required in connection with Buyer’s review and financing of this transaction and with respect to required
    securities filings or notices. If this Agreement is terminated, each party will return to the other party all information
    obtained from the other party in connection with the transactions contemplated hereby.

 

	7.4	Cooperation.
    Buyer and Seller shall cooperate fully with each other and their respective counsel and accountants in connection with
    any actions required to be taken as part of their obligations under this Agreement, and Buyer and Seller will use their best
    efforts to consummate the transactions contemplated hereby and to fulfill their obligations hereunder.

 

	7.5	Access.
    To the extent possible, for a period of five years after the Closing Date, Seller shall provide Buyer reasonable access
    and the right to copy any books and records relating to the Assets that are not included in the Assets, and Buyer will provide
    Seller access to any books and records relating to the Assets that are included in the Assets.

 

	7.6	Covenant
    Not to Compete.

 

	 	(a)	Seller.
    In consideration of the sums to be paid pursuant to the terms of this Agreement, and in order to protect the Assets (and the
    value of the Assets), Seller and agrees that if the Closing occurs they shall not, either, directly or indirectly through
    other persons or their respective affiliates, engage in, carry on, or be connected to any waste management business; provided,
    however, nothing herein shall prohibit Seller or Shareholder from being a passive owner of not more than two percent (2%)
    of the outstanding stock of any class of any corporation that engages in such business, so long as (i) such Seller or Shareholder
    have no active participation in the business of such corporation, and (ii) such stock is traded on a nationally-recognized
    stock market or on NASDAQ. The provisions of this Section 7.6 shall be binding upon Seller and Shareholders for a period of
    three (3) years from the date of the Closing. It is the intent and understanding of each party hereto that if, in any action
    before any court or agency legally empowered to enforce this Section 7.6, any term, restriction, covenant or promise shall
    be deemed modified to the extent necessary to make it enforceable to the greatest extent possible by such court or agency.
    Seller represents and warrants that the Shareholders signing this Agreement below as to this Section 7.6 comprises all the
    shareholders of Seller.

 

    	16

    	 

    

 

	 	(b)	Other
    Provisions. For purposes of this Section, an affiliate means (a) any partnership, corporation, or other entity directly
    or indirectly controlling, controlled by, or under common control with Seller or Shareholder signing below, or (b) any officer,
    director, manager, trustee, or principal of Seller or of any partnership, corporation, or other entity that is an affiliate
    under this definition. The parties acknowledge and agree that the covenants set forth in this Section 7.6 are ancillary to
    the sale of the Assets and are reasonable and necessary to protect Buyer’s purchase of the Assets.

 

SECTION
8. CONDITIONS TO OBLIGATIONS OF BUYER AND SELLER

 

8.1
Conditions to Obligations of Buyer. All obligations of Buyer at the Closing hereunder are subject at Buyer’s
option to the fulfillment prior to or at the Closing Date of each of the following conditions:

 

	 	(a)	Representations
    and Warranties. All representations and warranties of Seller contained in this Agreement shall be true and complete in
    all material respects at and as of the Closing Date as though made at and as of that time.

 

	 	(b)	Covenants
    and Conditions. Seller shall have performed and complied in all material respects with all covenants, agreements, and
    conditions required by this Agreement to be performed or complied with by it prior to or at the Closing Date.

 

	 	(c)	Consents.
    All Consents shall have been obtained and delivered to Buyer, without any change in the terms or conditions of any Contract
    that could be less advantageous to the Business than those pertaining under the Contract as in effect on the date hereof.

 

	 	(d)	Governmental
    Authorizations. Seller shall be the holder of all Grants of Authority, and there shall not have been any modification
    of any of the Grants of Authority that could have an adverse effect on the Business or the conduct of its operations. No proceeding
    shall be pending, the effect of which would be to revoke, cancel, fail to renew, suspend, or modify adversely any Grants of
    Authority.

 

	 	(e)	Deliveries.
    Seller shall have made or stand willing to make all the deliveries to Buyer set forth in Section 9.2.

 

	8.2.	Conditions
    to Obligations of Seller. All obligations of Seller at the Closing hereunder are subject at Seller’s option
    to the fulfillment prior to or at the Closing Date of each of the following conditions:

 

	 	(a)	Representations
    and Warranties. All representations and warranties of Buyer contained in this Agreement shall be true and complete in
    all material respects at and as of the Closing Date as though made at and as of that time.

 

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	 	(b)	Covenants
    and Conditions. Buyer shall have performed and complied in all material respects with all covenants, agreements, and conditions
    required by this Agreement to be performed or complied with by it prior to or at the Closing Date.

 

	 	(c)	Deliveries.
    Buyer shall have made or stand willing to make all the deliveries set forth in Section 9.3.

 

SECTION
9. CLOSING AND CLOSING DELIVERIES

 

	9.1	Closing.

 

	 	(a)	Closing
    Date. The Closing shall take place at 10:00 a.m. on February 9, 2021 or an earlier or later date to be set by Buyer which
    is within fifteen days following the satisfaction or waiver of all conditions to closing set forth in this Agreement.

 

	 	(b)	Closing
    Place. The Closing shall be held at the offices of the Seller in St. Simons Island, Georgia, or any other place that is
    agreed upon by Buyer and Seller.

 

	9.2	Deliveries
    by Seller. Prior to or on the Closing Date, Seller shall deliver to Buyer the following, in form and substance reasonably
    satisfactory to Buyer and its counsel:

 

	 	(a)	Transfer
    Documents. Duly executed warranty deeds, bills of sale, assignments, and other transfer documents which shall be sufficient
    to vest good title to the Assets in the name of Buyer, free and clear of all mortgages, liens, restrictions, encumbrances,
    claims, and obligations except as permitted in this Agreement;

 

	 	(b)	Consents.
    A manually executed copy of each Consent;

 

	 	(c)	Resolutions.
    Copies of resolutions adopted by the Board of Directors and, if required, shareholders of Seller, authorizing and approving
    the execution of this Agreement and the consummation of the transactions contemplated hereby on the Closing Date;

 

	 	(d)	Certificate
    of Compliance. A certificate, dated as of the Closing Date, executed by the President of Seller, certifying: (1) that
    Seller has obtained proper corporate authorization necessary to the consummation of this Agreement; (2) that the representations
    and warranties of Seller contained in this Agreement are true and complete in all material respects as of the Closing Date
    as though made on and as of that date; and (3) that Seller has, in all material respects, performed and complied with all
    of its obligations, covenants, and agreements set forth in this Agreement to be performed and complied with on or prior to
    the Closing Date;

 

    	18

    	 

    

 

	 	(e)	UCC
    Search. A search for UCC-1 filings in the records of the Secretary of State of the State of Georgia and any appropriate
    local filing office and in the records of each county in which any of the Assets are located;

 

	 	(f)	Licenses,
    Contracts, Business Records, Etc. Copies of any Grants of Authority, contracts, blueprints, schematics, working drawings,
    plans, projections, statistics, and all files and records used by Seller in the operations of the Business;

 

	 	(g)	Accounts
    Receivable. A complete and accurate list of the Accounts Receivable, including, with respect to each account Receivable,
    the account number, date of issuance, name and address of account debtor, aggregate amount, and balance due, together with
    any resolution or other documents that Buyer reasonably requests to permit Buyer to deposit any collections on any Accounts
    Receivable into its bank accounts.

 

	9.3	Deliveries
    by Buyer. Prior to or on the Closing Date, Buyer shall deliver to Seller the following, in form and substance reasonably
    satisfactory to Seller and its counsel:

 

	 	(a)	Consideration.
    The consideration for the Assets as provided in Section 2.3, subject to Sections 2.2(c) and 2.3(b) above;

 

	 	(b)	Assumption
    Agreement. An assumption agreement, pursuant to which Buyer will assume and undertake to perform Seller’s obligations
    under any assumed contracts or Grants of Authority arising after the Effective Time, to the extent specified in Section 2.4;
    and

 

	 	(c)	Certificate
    of Compliance. A certificate, dated as of the Closing Date, executed on behalf of Buyer by its President, certifying (1)
    that the representations and warranties of Buyer contained in this Agreement are true and complete in all material respects
    as of the Closing Date as though made on and as of that date, and (2) that Buyer has, in all material respects, performed
    and complied with all of its obligations, covenants, and agreements set forth in this Agreement to be performed and complied
    with on or prior to the Closing Date.

 

SECTION
10. TERMINATION

 

This
Agreement may be terminated by either Buyer or Seller, if the terminating party is not then in material default, upon written
notice to the other party, upon the occurrence of any of the following:

 

	 	(a)	Conditions.
    If on the Closing Date any of the conditions precedent to the obligations of the terminating party set forth in this Agreement
    have not been satisfied or waived in writing by the terminating party.

 

    	19

    	 

    

 

	 	(b)	Judgments.
    If there shall be in effect on the Closing Date any judgment, decree, or order that would prevent or make unlawful the Closing
    of this Agreement.

 

	 	(c)	Upset
    Date. If the Closing shall not have occurred prior to March 9, 2021, provided, however that Buyer may elect to extend
    this date by 30 days upon giving written notice to Seller pursuant to section 13.2 herein.

 

SECTION
11. SURVIVAL OF REPRESENTATIONS AND WARRANTIES AND INDEMNIFICATION.

 

	11.1	Representation
    and Warranties. All representations, warranties and covenants not to compete contained in this Agreement shall be
    deemed continuing representations, warranties and covenants and shall survive the Closing. Any investigations by or on behalf
    of any party hereto shall not constitute a waiver as to enforcement of any representation, warranty, or covenant contained
    herein. No notice or information delivered by Seller pursuant to Section 5.1(g) or Section 5.1(h) shall modify or limit any
    of Seller’s representations and warranties, affect Buyer’s right to rely on any representation or warranty made
    by Seller, or relieve Seller of any obligations hereunder as the result of a breach of any of its representations and warranties.

 

	11.2	Indemnification
    by Seller. Notwithstanding the Closing, and regardless of any investigation made at any time by or on behalf of Buyer
    or any information Buyer may have, Seller agrees to indemnify and hold Buyer harmless against and with respect to, and shall
    reimburse Buyer for:

 

	 	(a)	Breach.
    Any and all losses, liabilities, or damages resulting from any untrue representation, breach of warranty, or nonfulfillment
    of any covenant by Seller contained herein or in any certificate, document, or instrument delivered to Buyer hereunder;

 

	 	(b)	Obligations.
    Any and all obligations of Seller not assumed by Buyer pursuant to the terms of this Agreement, including any and all liabilities
    arising at any time under any Contract or Grant of Authority not included in the Assumed Contracts and Grants of Authority;

 

	 	(c)	Ownership.
    Any and all losses, liabilities, or damages resulting from the operation or ownership of the Business prior to the Effective
    Time, including any and all liabilities arising under the Grants of Authority or the Contracts which relate to events occurring
    prior to the Effective Time; and

 

    	20

    	 

    

 

	 	(d)	Legal
    Matters. Any and all actions, suits, proceedings, claims, demands, assessments, judgments, costs, and expenses, including
    reasonable legal fees and expenses, incident to any of the foregoing or incurred in investigating or attempting to avoid the
    same or to oppose the imposition thereof, or in enforcing this indemnity.

 

	11.3	Indemnification
    by Buyer. Notwithstanding the Closing, and regardless of any investigation made at any time by or on behalf of Seller
    or any information Seller may have, Buyer hereby agrees to indemnify and hold Seller harmless against and with respect to,
    and shall reimburse Seller for:

 

	 	(a)	Breach.
    Any and all losses, liabilities, or damages resulting from any untrue representation, breach of warranty, or nonfulfillment
    of any covenant by Buyer contained herein or in any certificate, document, or instrument delivered to Seller hereunder;

 

	 	(b)	Ownership.
    Any and all losses, liabilities, or damages resulting from the operation or ownership of the Business after the Effective
    Time, including any and all liabilities arising under the Assumed Contracts and Grants of Authority which relate to events
    occurring after the Effective Time, but in all instances excluding any liabilities arising under any Excluded Assets; and

 

	 	(c)	Legal
    Matters. Any and all actions, suits, proceedings, claims, demands, assessments, judgments, costs and expenses, including
    reasonable legal fees and expenses, incident to any of the foregoing or incurred in investigating or attempting to avoid the
    same or to oppose the imposition thereof, or in enforcing this indemnity; and

 

	 	(d)	Obligations.
    Any and all obligations of Buyer not assumed by Seller pursuant to the terms of this Agreement, including any and all liabilities
    arising at any time under any Contract or Grant of Authority not included in the Assumed Contracts and Grants of Authority.

 

	11.4	Procedure
    for Indemnification. The procedure for indemnification shall be as follows:

 

	 	(a)	Notice.
    The party claiming indemnification pursuant to this Agreement (the “Claimant”) shall promptly give notice to the
    party from whom indemnification is claimed (the “Indemnitor”) of any claim, whether solely between the parties
    or brought by a third party, specifying the factual basis for the claim, and the amount of the claim.

 

	 	(b)	Investigation.
    With respect to claims between the parties, following receipt of notice from the Claimant of a claim, the Indemnitor shall
    have thirty days to make any investigation of the claim that the Indemnitor deems necessary or desirable. For the purposes
    of this investigation, the Claimant agrees to make available to the Indemnitor and/or its authorized representatives the information
    relied upon by the Claimant to substantiate the claim. If the Claimant and the Indemnitor cannot agree as to the validity
    and amount of the claim within the 30-day period (or any mutually agreed upon extension thereof), the Claimant may seek appropriate
    legal remedy.

 

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	 	(c)	Control.
    With respect to any claim by a third party as to which the Claimant is entitled to indemnification hereunder, the Indemnitor
    shall have the right at its own expense to participate in or assume control of the defense of the claim, and the Claimant
    shall cooperate fully with the Indemnitor, subject to reimbursement for actual out-of-pocket expenses incurred by the Claimant
    as the result of a request by the Indemnitor. If the Indemnitor elects to assume control of the defense of any third-party
    claim, the Claimant shall have the right to participate in the defense of the claim at its own expense. If the Indemnitor
    does not elect to assume control or otherwise participate in the defense of any third party claim, it shall be bound by the
    results obtained by the Claimant with respect to the claim.

 

SECTION
12. CERTAIN REMEDIES

 

	12.1	Attorneys’
    Fees. In the event of a default by Seller or Buyer which results in the filing of a lawsuit for damages, specific
    performance, or other remedy, the prevailing party shall be entitled to reimbursement by the other party of reasonable legal
    fees and expenses incurred.

 

SECTION
13. MISCELLANEOUS

 

	13.1	Fees
    and Expenses. Seller shall pay any filing fees, transfer taxes, sales taxes, document stamps, or other charges levied
    by any governmental entity on account of the transfer of the Assets from Seller to Buyer. Except as otherwise provided in
    this Agreement, each party shall pay its own expenses incurred in connection with the authorization, preparation, execution,
    and performance of this Agreement, including all fees and expenses of counsel, accountants, agents, and representatives.

 

	13.2	Notices.
    All notices, demands, and requests required or permitted to be given under the provisions of this Agreement shall be in writing
    and shall be deemed to have been duly delivered and received (a) on the date of personal delivery, or (b) on the earlier of
    the date of receipt (as shown on the return receipt) or refusal of delivery if mailed by registered or certified mail, postage
    prepaid and return receipt requested, in each case addressed as follows:

 

If
to Seller:

 

Mr.
Richard B. Jones

Amwaste,
Inc.

206
Sandcastle Way

St.
Simons Island, Georgia 31522

 

    	22

    	 

    

 

If
to Buyer:

 

Mr.
Lloyd Spencer

Deep
Green Waste & Recycling, Inc.

13110
NE 177th Place #293

Woodinville,
Washington 98072

 

 

Or
to any other or additional persons and addresses as the parties may from time to time designate in a writing delivered in accordance
with this Section 13.2.

 

	13.3	Benefit
    and Binding Effect. Neither party hereto may assign this Agreement without the prior written consent of the other
    party hereto, except that, without the prior written consent of Seller, Buyer may assign its rights under this Agreement to
    any entity controlling, controlled by or under common control with Buyer or any successor of Buyer by way of merger, acquisition,
    reorganization or other similar corporate transaction, and, upon the assumption by such assignee of all liabilities and obligations
    of Buyer hereunder, Buyer shall be released from all liabilities and obligations to Seller pursuant to this Agreement. This
    Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
    assigns.

 

	13.4	Further
    Assurances. The parties shall take any actions and execute any other documents that may be necessary or desirable
    to the implementation and consummation of this Agreement, including, in the case of Seller, any additional bills of sale,
    deeds, or other transfer documents that, in the reasonable opinion of Buyer, may be necessary to ensure, complete, and evidence
    the full and effective transfer of the Assets to Buyer pursuant to this Agreement.

 

	13.5	Governing
    Law. This Agreement shall be governed, construed, and enforced in accordance with the laws of the State of Georgia
    (without regard to the choice of law provisions thereof).

 

	13.6	Headings.
    The headings herein are included for ease of reference only and shall not control or affect the meaning or construction of
    the provisions of this Agreement.

 

    	23

    	 

    

 

	13.7	Gender
    and Number. Words used herein regardless of the gender and number specifically used, shall be deemed and construed
    to include any other gender, masculine, feminine, or neuter, and any other number, singular or plural, as the context requires.

 

	13.8	Entire
    Agreement. This Agreement, all schedules and exhibits hereto, and all documents, certificates, and other documents
    to be delivered by the parties pursuant hereto, collectively represent the entire understanding and agreement between Buyer
    and Seller with respect to the subject matter hereof. This Agreement supersedes all prior negotiations between the parties
    and cannot be amended, supplemented, or changed except by an agreement in writing that makes specific reference to this agreement
    and which is signed by the party against which enforcement of any such amendment, supplement, or modification is sought.

 

	13.9	Counterparts.
    This Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the
    same instrument.

 

IN
WITNESS WHEREOF, this Agreement has been executed by Buyer and Seller as of the date first written above.

 

	 	BUYER:
	 	 	 
	 	By:	 
	 	 	Lloyd
    Spencer, President
	 	 	 
	 	SELLER:
	 	 	 
	 	By:	 
	 	 	Richard
    B. Jones, President

 

    	24

    	 

    

 

SCHEDULES

 

	 	A.	Business:

 

	 	1.	A
    description of the Business as defined in the Agreement, listing and describing the classes of both recurring and non-recurring
    revenue and showing the number of customers by class of revenue.

 

	 	2.	A
    description of invoicing and accounts receivable tracking systems in use, accounting system, work-flow management, advertising
    and marketing methods, website maintenance and data sourcing, and inventory management.

 

	 	3.	any
    other automation of business, market, or customer information

 

	 	B.	Listing
    and Aging of Customer Deposits and Prepayments

 

	 	C.	Real
    Property

 

	 	1.	Rented
    Office/Storage Contracts

 

	 	2.	Other

 

	 	D.	Personal
    Property (Fixed Asset Listing, Inventory Listing)

 

	 	1.	Fixed
    Asset Listing

 

	 	2.	Inventory
    Listing

 

	 	3.	Files
    and databases

 

	 	E.	Assumed
    Contracts and Grants of Authority

 

	 	1.	Maintenance
    and other recurring revenue contracts

 

	 	2.	Grants
    of Authority from local, county, state jurisdictions and any related special use agreements

 

	 	3.	Any
    other contractual relationship

 

    	25

    	 

    

 

	 	F.	Consents

 

	 	G.	Intangibles

 

	 	H.	Financials
    – Current month and YTD financials

 

	 	I.	Insurance
    – Copies of all current insurance plans

 

	 	J.	Employees
    and Plans

 

	 	1.	Name

 

	 	2.	Address

 

	 	3.	Pay

 

	 	4.	Job
    Description

 

	 	5.	Insurance
    Packages

 

	 	K.	Claims
    and Legal Actions – Listing any and all

 

EXHIBITS

 

	 	A.	Form
    8594

 

	 	B.	Transfer
    Agent Letter

 

Promissory
Note

 

    	26Exhibit
10.2

 

PROMISSORY
NOTE

 

	Borrower:
    	Deep
    Green Waste & Recycling (DGWR) and DG Research, Inc. (a wholly owned subsidiary of DGWR), of 13110 NE 177th Place, #293,
    Woodinville, WA 98072 (the “Borrower”) 
	 	 
	Lender:	Amwaste,
    Inc. of 206 Sandcastle Way, St. Simons Island, Georgia 31522 (the “Lender”) 

 

Principal
Amount: $110,000.00 USD

 

	 	1.	FOR
    VALUE RECEIVED, The Borrower promises to pay to the Lender at such address as may be provided in writing to the Borrower,
    the principal sum of $110,000.00 USD, with interest payable on the unpaid principal at the rate of 6.00 percent per annum,
    calculated yearly not in advance.
	 	 	 
	 	2.	This
    Note will be repaid in full on March 8th, 2021. It may be extended for an additional 30 days without penalty by mutual agreement
    of the Borrower and Lender. If the Note is paid in full by March 8th, 2021 it will be discounted by $10,000.00
    so that the principal amount paid in full shall be $100,000.00
	 	 	 
	 	3.	At
    any time while not in default under this Note, the Borrower may pay the outstanding balance then owing under this Note to
    the Lender without further bonus or penalty.
	 	 	 
	 	4.	All
    costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by the Lender in enforcing
    this Note as a result of any default by the Borrower, will be added to the principal then outstanding and will immediately
    be paid by the Borrower.
	 	 	 
	 	5.	This
    Note is given to secure the payment of the purchase price of the following security (the ‘Security’): All the
    tangible and intangible assets, real, personal, or mixed, owned or held by Seller and used or useful in the business, including
    the Personal Property, Real Property, the Assumed Contracts and Grants of Authority, the Accounts Receivable, the Intangibles,
    and all customer lists and relationships, and other information relating to the Business, but not including the Excluded Assets.

 

	 	a.	Tangible
    Property is described in Schedules A, B and C

 

    	Page 1 of 5

     

    

 

	 	6.	Title
    to the Security will be transferred to the Borrower at execution of this Note. The Lender will retain a vendors’ lien
    in the Security and the Borrower grants to the Lender a security interest in the Security until this Note is paid in full.
    The Lender will be listed as a lender on the title of the Security whether or not the Lender elects to perfect a seller’s
    security interest in the Security.
	 	 	 
	 	7.	If
    the Borrower defaults in payment as required under this Note or after demand for ten (10) days, the Security will be immediately
    provided to the Lender and the Lender is granted all rights of repossession as a secured party.
	 	 	 
	 	8.	If
    any term, covenant, condition or provision of this Note is held by a court of competent jurisdiction to be invalid, void or
    unenforceable, it is the parties’ intent that such provision be reduced in scope by the court only to the extent deemed
    necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Note
    will in no way be affected, impaired or invalidated as a result.
	 	 	 
	 	9.	This
    Note will be construed in accordance with and governed by the laws of the State of Georgia.
	 	 	 
	 	10.	This
    Note will inure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns
    of the Borrower and the Lender. The Borrower waives presentment for payment, notice of non-payment, protest and notice of
    protest.

 

IN
WITNESS WHEREOF the parties have duly affixed their signatures under seal on this 8th day of February, 2021.

 

	 	
	 

                                                                      

                                                                     Deep
        Green Waste & Recycling, Inc. and

        DG
        Research, Inc.

	SIGNED,
    SEALED, AND DELIVERED this 8th day of February, 2021. 	 
	 	______________________________(signature)
	 	Lloyd
    T. Spencer
	 	President

 

	 		

                            

                            

                           Amwaste, Inc.  

	SIGNED, SEALED, AND DELIVERED this 8th day of February, 2021. 	 
	 	______________________________(signature)
	 	
        Dick Jones

        President

 

    	Page 2 of 5

     

    

 

Schedule
A. Tangible Assets

 

	Description	 	Location
    Name	 	Location
    Address	 	Number

of Units 
	 	 	 	 	 	 	 
	10
    Yard Dumpster	 	Amwaste
    Storage Yard	 	4150
    Whitlock St., Brunswick, Ga 31520	 	36
    
	 	 	 	 	 	 	 
	10
    Yard Dumpster	 	109
    locations	 	See
    Schedule B	 	109
    
	 	 	 	 	 	 	 
	Truck
    1 (Schedule C)	 	Amwaste
    Storage Area	 	4150
    Whitlock St., Brunswick, Ga 31520	 	1
    
	 	 	 	 	 	 	 
	Truck
    2 (Schedule C)	 	Amwaste
    Storage Area	 	4150
    Whitlock St., Brunswick, Ga 31520	 	1
    
	 	 	 	 	 	 	 
	Truck
    3 (Schedule C)	 	Amwaste
    Storage Area	 	4150
    Whitlock St., Brunswick, Ga 31520	 	1
    

 

    	Page 3 of 5

     

    

 

Schedule
B. 10 Yard Dumpsters and Locations

 

	P/U	 	ADDRESS	 	$	 	DEL	 	P/U	 	NAME
	 	 	 	 	 	 	 	 	 	 	 
	Omitted
    Due To Confidentiality

 

    	Page 4 of 5

     

    

 

Schedule C. List of Trucks

 

	Year	 	Make/Model/Equipment	 	VIN	 	Georgia
    Tag
	 	 	 	 	 	 	 
	Omitted
    Due To Confidentiality

 

    	Page 5 of 5

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