Document:

EXHIBIT 10.49

                      [On GB Merchant Partners Letterhead]

July 18, 2007

Quaker Fabric Corporation of Fall River
941 Grinnell Street
Fall River, Massachusetts 02721
Attn: Paul J. Kelley, Chief Financial Officer

         Re: Additional Term Loan Advance
             ----------------------------

Dear Paul:

         Reference is made to the Term Loan Agreement dated as of November 9,
2006, by and among Quaker Fabric Corporation of Fall River (the "Borrower"),
Quaker Fabric Corporation, GB Merchant Partners, LLC, as Administrative Agent
(the "Administrative Agent") and the Lenders party thereto (as amended and in
effect, the "Loan Agreement"). Capitalized terms used in this letter without
definition have the respective meanings ascribed to such terms in the Loan
Agreement. Reference is further made to the letter dated July 3, 2007, sent by
counsel to the Administrative Agent and the Lenders to the Borrower identifying
certain Events of Default which have occurred and continue to exist under the
Loan Agreement (the "Default Letter"). Currently, the Administrative Agent and
the Lenders are forbearing from exercising rights and remedies in respect of the
Events of Default identified in the Default Letter.

         The Borrower has informed the Administrative Agent and the Lenders that
the Borrower and its affiliates intend to cease the operation of their
businesses, wind down their operations, and engage in an orderly disposition of
their assets and properties. In connection with the same, the Borrower has
requested that the Administrative Agent and the Lenders fund certain expenses to
be incurred by the Borrower. The Administrative Agent and the Lenders are
willing to make an overadvance under the Term Loans in the amount of $2,000,000
(the "Overadvance"), on the following terms and conditions:

Overadvance Amount:            $2,000,000 (less the Initial Advances) available
                               in one or more weekly advances by the Lenders to
                               the Borrower.

Structure:          The Overadvance constitutes an overadvance under one or both
                    of the existing Term Loans under the Loan Agreement, as
                    determined by Administrative Agent in its sole discretion,
                    and the Loan Agreement would be amended to accommodate the
                    same. The Overadvance will constitute a portion of the Term
                    Loans and will be subject to all of the terms and conditions
                    of the Loan Agreement. The Overadvance constitutes funds
                    necessary to preserve or protect the Lenders' Collateral and
                    enhance the prospects of repayment of the Term Loans, and

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                    consequently, does not constitute "Excluded Term Loan Debt",
                    as defined in the Intercreditor Agreement.

Interest:           The Overadvance will bear interest at a rate per annum equal
                    to the interest rate currently payable with respect to the
                    Term Loans under the Loan Agreement.

Forbearance and
Funding Fee:        In consideration of the agreement of the Administrative
                    Agent and the Lenders to continue to forbear from exercising
                    rights and remedies as a result of the Existing Defaults (as
                    defined in the Default Letter), as well as the willingness
                    of the Administrative Agent and Lenders to fund the
                    Overadvance, the Borrower will pay to the Administrative
                    Agent, for the account of the Lenders, a Forbearance and
                    Funding Fee in an amount equal to 20% of any amounts funded
                    under the Overadvance, such fee fully earned and payable
                    weekly with the proceeds of each weekly advance. In
                    connection with funding the Initial Advance on the date of
                    this letter agreement, Borrowers shall pay the Forbearance
                    and Funding Fee relative to each of the Initial Advances.

Collateral:         The Overadvance will be secured by all of the Collateral
                    securing the existing Term Loans, subject to the terms of
                    the Intercreditor Agreement.

Use of Proceeds:    The proceeds of fundings under the Overadvance will be
                    funded directly to the Revolving Credit Agent to reduce the
                    outstanding amounts under the Revolving Credit Agreement.
                    Proceeds of subsequent advances under the Revolving Credit
                    Agreement shall be used by the Borrower solely to fund wind
                    down expenses and other costs and expenses set forth in a
                    wind down budget prepared under direction of and approved by
                    RAS Management and approved by the Administrative Agent and
                    the Revolving Credit Agent, each in their sole discretion
                    (the "Wind Down Budget").

         The parties hereto acknowledge that on or about July 13, 2007, the
Lenders funded a portion of the Overadvance in the amount of $200,000, and as of
the date of this letter agreement the Lenders have funded an additional portion
of the Overadvance in the amount of $175,000 (plus the Forbearance and Funding
Fee due on account of each such funding in the aggregate amount of $75,000), in
each case to pay certain approved expenses of the Borrower (collectively, the
"Initial Advances"). The funding of the Initial Advances does not obligate the
Administrative Agent and the Lenders to fund the balance of the Overadvance; the
willingness of the Administrative Agent and the Lenders to do so being
conditioned on satisfaction of all of the terms and conditions set forth in this
letter agreement, including execution of an acceptable amendment to the Loan
Agreement. After giving effect to the funding of the Initial Advances, the

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outstanding principal balance of the Overadvance is $450,000, all of which bears
interest as provided in this letter agreement.

         All other terms and conditions with respect to the Overadvance shall be
acceptable to the Administrative Agent in its sole discretion. The willingness
of the Administrative Agent and the Lenders to make the Overadvance shall not be
construed as a waiver of the Existing Defaults, any other Default or Event of
Default which may now exist or hereafter arise under the Loan Agreement, and any
of the rights and remedies of the Administrative Agent and the Lenders, all of
which are expressly reserved.

         The Revolving Credit Agent hereby joins this letter agreement to
acknowledge its consent to the terms hereof, and the agreement of the Revolving
Credit Agent and Revolving Credit Lenders (without waiving any of the terms and
conditions of the Revolving Credit Agreement and the other Revolving Credit Loan
Documents) to continue to make advances under the Revolving Credit to fund wind
down costs and expenses and other costs and expenses set forth in the Wind Down
Budget.

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         If this proposal is acceptable to you, please execute this letter in
the space provided below and return the same to the attention of the
undersigned.

                                                   Sincerely,

                                                   GB Merchant Partners, LLC,
                                                   as Administrative Agent

                                                   By:____/s/__________________
                                                   Name: D. Michael Murray
                                                   Title: Managing Director

Accepted and Agreed:

Quaker Fabric Corporation of Fall River

By: _____/s/_____________
Name:
Title:

Acknowledged
and Agreed:

Bank of America, N.A.,
as Revolving Credit Agent

By: ______/s/____________
Name:
Title:

                                       9Exhibit 10.1
                 INTERNATIONAL BUILDING TECHNOLOGIES, CO., LTD.

                        ASSET SALE AND PURCHASE AGREEMENT

     THIS  AGREEMENT  is made this 8th day of July 2007 by and  between  Suining
Yinfa  Construction  and  Engineering  Co.,  Ltd.,  (the  "Company"),   a  China
corporation;  and International Building  Technologies,  Co., Ltd. ("IBT" or the
"Purchaser"),  a Hong Kong  corporation,  and a wholly owned  subsidiary  of IBT
Group,  Inc.,  FKA,  Motorsports  Emporium  Inc., a US publicly  traded  company
(OTCBB:MSEM)

     WHEREAS,  the  Company  desires to sell to the  Purchaser  51%  interest in
certain contracts and agreements (the "Company Assets") in return for Company in
order to become part of a US publicly  traded  company and to  potentially  gain
certain  rights  to  use  and  exploit  IBT's  panel  building  technology  (the
"Technology") either now or in the future.

     WHEREAS,  the  Purchaser  desires to  purchase  the  Assets as  hereinafter
provided;

     NOW, THEREFORE,  in consideration of the foregoing and the following mutual
covenants and agreements, the parties hereto agree as follows:

     1. Purchase of Assets.  At the closing of this Agreement  (the  "Closing"),
upon the basis of the covenants, warranties and representations of the Purchaser
set forth in this  Agreement,  the  Company  will sell,  transfer,  assign,  and
deliver to the  Purchaser  51% interest in certain  contracts  (the  "Assets" or
"Company  Assets"),  as set forth in Exhibit  A,  clear of all  liens,  pledges,
rights of third parties and any other  encumbrances,  except as otherwise may be
permitted hereunder.

     2. Compensation. Purchaser agrees to the following:

     (a) Note.  Payment to Company in the form of a Convertible  Promissory Note
in the amount of $350,000 USD attached herein as Exhibit B, and briefly outlined
as follows:

     3. Restrictive  Legend.  All shares of the Stock to be delivered  hereunder
shall bear a restrictive legend in substantially the following form:

     "THE SHARES  REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE  SECURITIES  ACT OF 1933, AS AMENDED (THE  "SECURITIES  ACT"),  OR ANY STATE
SECURITIES LAWS AND NEITHER SUCH SHARES NOR ANY INTEREST THEREIN MAY BE OFFERED,
SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS A REGISTRATION STATEMENT
WITH RESPECT  THERETO IS EFFECTIVE  UNDER THE  SECURITIES ACT AND ANY APPLICABLE
STATE SECURITIES LAWS, OR PURSUANT TO AN EXEMPTION FROM  REGISTRATION  UNDER THE
SECURITIES ACT."

     4. Optional Stock Purchase Agreement.

     (a) Upon  signing  this  agreement,  both  Parties  agree to pursue a stock
purchase  agreement of the Company by IBT based upon terms and  conditions to be
decided   between  the  two  parties  and  to  be   memorialized  in  subsequent
documentation.

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     (b) Both parties  understand  that such a Stock Purchase  Agreement will be
dependent on an obtaining reliable  representation from the Company including an
audit of the Company's  financials  according to US GAAP standards,  the cost of
which will be born by the Company.

     5. Management of Assets.

     (a) IBT shall provide management personnel to the Assets, including Project
Management, Accounting Supervision and Controller.

     (b) All  financial  books and records for the Assets will be  maintained by
IBT.

     6. Profit Sharing.

     (a) Profits shall be shared between the Parties either on a quarterly basis
or upon  completion of the Contract being acquired on the following  basis:  IBT
51% and Company 49%.

     (b) Any potential  losses will be shared  between the Parties  according to
percentage  ownership of the Assets;  however, the loss share for which IBT will
be responsible will be limited to no more than $100,000 USD.

     7. Reversal of Agreement. The Agreement between the Parties may be reversed
and the original Convertible  Promissory Note returned to each of the Parties if
one of the following conditions prevails:

     (a) IBT is unable to maintain  the terms and  conditions  of the Asset Sale
and Purchase Agreement.

     (b) Company is unable to maintain the Assets or continue operations.

     (c)  Company  is  unable  to  obtain  approval  from the  local  government
authority for changing  registration  of  shareholders  formally in according to
this agreement.

     8.  Representations  and Warranties of the Company.  Where a representation
contained  in this  Agreement  is  qualified  by the  phrase "to the best of the
Company's  knowledge" (or words of similar import),  such expression means that,
after  having  conducted  a due  diligence  review,  the  Company  believes  the
statement to be true, accurate, and complete in all material respects. Knowledge
shall not be imputed nor shall it include any matters  which such person  should
have known or should have been  reasonably  expected to have known.  The Company
represents and warrants to the Purchaser as follows:

     (a) Power and  Authority.  The  Company  has full  power and  authority  to
execute,   deliver,  and  perform  this  Agreement  and  all  other  agreements,
certificates  or documents to be delivered in  connection  herewith,  including,
without   limitation,   the  other   agreements,   certificates   and  documents
contemplated hereby (collectively the "Other Agreements").

     (b) Binding  Effect.  Upon  execution  and  delivery by the  Company,  this
Agreement and the Other  Agreements  shall be and constitute the valid,  binding
and legal  obligations  of the  Company,  enforceable  against  the  Company  in
accordance  with the terms  hereof  and  thereof,  except as the  enforceability
hereof or thereof may be subject to the effect of (i) any applicable bankruptcy,
insolvency, reorganization,  moratorium or similar laws relating to or affecting
creditors' rights generally,  and (ii) general  principles of equity (regardless
of whether such  enforceability  is  considered  in a proceeding in equity or at
law).

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     (c) Effect.  Neither the  execution  and delivery of this  Agreement or the
Other  Agreements  nor  full  performance  by the  Company  of  its  obligations
hereunder or thereunder will violate or breach, or otherwise  constitute or give
rise  to  a  default  under,   the  terms  or  provisions  of  the  Articles  of
Incorporation or Bylaws of the Company or, of any contract,  commitment or other
obligation  of the Company or the Company or necessary  for the operation of the
Company  following  the  Closing  or any other  contract,  commitment,  or other
obligation  to which the Company or the Company is a party,  or create or result
in the creation of any  encumbrance  on any of the property of the Company.  The
Company is not in violation of its Articles of Incorporation,  as amended,  it's
Bylaws, as amended, or of any indebtedness,  mortgage, contract, lease, or other
agreement or commitment.

     (d) No Consents. No consent, approval or authorization of, or registration,
declaration or filing with any third party,  including,  but not limited to, any
governmental  department,  agency,  commission or other  instrumentality,  will,
except such consents,  if any, delivered or obtained on or prior to the Closing,
be  obtained  or made by the  Company  prior to the  Closing  to  authorize  the
execution,  delivery  and  performance  by the Company of this  Agreement or the
Other Agreements which are listed on Schedule A.

     (e)  Litigation.  There  is no  action,  suit,  hearing,  inquiry,  review,
proceeding or investigation by or before any court or governmental body pending,
or threatened against or involving the Company, its affiliates or the Company or
with respect to the activities of any employee or agent of the Company.  Neither
the Company nor the Company have  received any notice of any event or occurrence
which  could  result  in  any  such  action,  suit,  hearing,  inquiry,  review,
proceeding or investigation.

     (f)  Records.  The books of account  and minute  books of the  Company  are
complete and correct, and reflect all those transactions  involving its business
which properly should have been set forth in such books.

     (g)  Internal  Accounting  Controls.  The  Company  maintains  a system  of
internal accounting controls sufficient,  in the judgment of the Company's board
of directors, to provide reasonable assurance that (i) transactions are executed
in  accordance  with  management's  general  or  specific  authorizations,  (ii)
transactions  are  recorded as  necessary  to permit  preparation  of  financial
statements in conformity with generally  accepted  accounting  principles and to
maintain  asset  accountability,  (iii)  access to assets is  permitted  only in
accordance  with  management's  general or specific  authorization  and (iv) the
recorded  accountability  for assets is  compared  with the  existing  assets at
reasonable  intervals  and  appropriate  action  is taken  with  respect  to any
differences.  The books of account,  corporate  records and minute  books of the
Company are complete and correct in all material respects.

     (h) The Company's  Representations  and Warranties  True and Complete.  All
representations  and  warranties of the Company in this  Agreement and the Other
Agreements  are true,  accurate and complete in all material  respects as of the
Closing.

     (i) No Knowledge of the Purchaser's  Default.  The Company has no knowledge
that any of the  Purchaser's  representations  and warranties  contained in this
Agreement or the Other  Agreements are untrue,  inaccurate or incomplete or that
the Purchaser is in default under any term or provision of this Agreement or the
Other Agreements.

     (j) No Untrue  Statements.  No representation or warranty by the Company in
this Agreement or in any writing  furnished or to be furnished  pursuant hereto,

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contains or will contain any untrue  statement of a material fact, or omits,  or
will omit to state any material fact required to make the  statements  herein or
therein contained not misleading.

     (k) Reliance. The foregoing  representations and warranties are made by the
Company  with the  knowledge  and  expectation  that the  Purchaser  is  placing
complete reliance thereon.

     9. Representations and Warranties of the Purchaser.  Where a representation
contained  in this  Agreement  is  qualified  by the  phrase "to the best of the
Purchaser's knowledge" (or words of similar import), such expression means that,
after  having  conducted a due  diligence  review,  the  Purchaser  believes the
statement to be true, accurate, and complete in all material respects. Knowledge
shall not be imputed nor shall it include any matters  which such person  should
have known or should have been reasonably  expected to have known. The Purchaser
hereby represents and warrants to the Company as follows:

     (a) Power and  Authority.  The  Purchaser  has full power and  authority to
execute, deliver and perform this Agreement and the Other Agreements.

     (b) Binding  Effect.  Upon  execution and delivery by the  Purchaser,  this
Agreement and the Other  Agreements  shall be and constitute the valid,  binding
and legal  obligations  of the  Purchaser  enforceable  against the Purchaser in
accordance with the terms hereof or thereof, except as the enforceability hereof
and  thereof  may be  subject to the  effect of (i) any  applicable  bankruptcy,
insolvency, reorganization,  moratorium or similar laws relating to or affecting
creditors' rights generally,  and (ii) general  principles of equity (regardless
of whether such  enforceability  is  considered  in a proceeding in equity or at
law).

     (c) Consents.  Company has obtained  consents from  Customers  allowing the
assignment  of said  contract  from Company to  Purchaser to take place  without
penalty  or  consequence.   No  consent,   approval  or  authorization   of,  or
registration,  declaration  or filing with any third party,  including,  but not
limited  to,  any   governmental   department,   agency,   commission  or  other
instrumentality, will, except such consents, if any, delivered or obtained on or
prior to the Closing,  be obtained or made by the Purchaser prior to the Closing
to authorize the  execution,  delivery and  performance by the Purchaser of this
Agreement or the Other Agreements.

     (d) The Purchaser's  Representations and Warranties True and Complete.  All
representations  and warranties of the Purchaser in this Agreement and the Other
Agreements  are true,  accurate and complete in all material  respects as of the
Closing.

     (e) No Knowledge of the Company's  Default.  The Purchaser has no knowledge
that any of the  Company's  representations  and  warranties  contained  in this
Agreement or the Other  Agreements  are untrue,  inaccurate or incomplete in any
respect or that the Company is in default  under any term or  provision  of this
Agreement or the Other Agreements.

     (f) No Untrue Statements. No representation or warranty by the Purchaser in
this Agreement or in any writing  furnished or to be furnished  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 the  statements  herein or
therein contained not misleading.

     (g) Reliance. The foregoing  representations and warranties are made by the
Purchaser  with the  knowledge  and  expectation  that the  Company  is  placing
complete reliance thereon.

     10. Conditions  Precedent to Obligations of the Purchaser.  All obligations
of the Purchaser under this Agreement are subject to the  fulfillment,  prior to
or at the Closing, of the following conditions:

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     (a) Representations and Warranties True at the Closing. The representations
and  warranties of the Purchaser  herein shall be deemed to have been made again
as of the  Closing,  and  then be  true  and  correct,  subject  to any  changes
contemplated  by this  Agreement.  The Purchaser shall have performed all of the
obligations to be performed by it hereunder on or prior to the Closing.

     (b)  Deliveries at the Closing.  The Purchaser  shall have delivered to the
Company at the Closing all of the documents required to be delivered hereunder.

     11. Conditions  Precedent to Obligations of the Company. All obligations of
the Company under this Agreement are subject to the fulfillment,  prior to or at
the Closing, of the following conditions:

     (a)  Contracts  and  Documents.  The Company  shall have  delivered  to the
Purchaser  the  contracts,  agreements,  purchase  orders  and  other  documents
evidencing  the  ownership  and  rights to the  Assets  described  in  Exhibit A
attached herein.

     (b) Representations and Warranties True at Closing. The representations and
warranties of the Company  herein shall be deemed to have been made again at the
Closing,  and then be true and correct,  subject to any changes  contemplated by
this  Agreement.  The Company shall have performed all of the  obligations to be
performed by it hereunder on or prior to the Closing.

     (c) Payment of the  Compensation.  The Purchaser  shall have  delivered the
Compensation.

     12. The Nature and Survival of  Representations,  Covenants and Warranties.
All statements and facts contained in any memorandum,  certificate,  instrument,
or  other  document  delivered  by  or on  behalf  of  the  parties  hereto  for
information   or  reliance   pursuant  to  this   Agreement,   shall  be  deemed
representations,  covenants  and  warranties  by the parties  hereto  under this
Agreement.  All  representations,  covenants and warranties of the parties shall
survive the Closing and all  inspections,  examinations,  or audits on behalf of
the parties, shall expire one year following the Closing.

     13.  Records  of the  Company.  For a period of five  years  following  the
Closing,  the books of account  and  records of the  Company  pertaining  to all
periods after the Closing  shall be available for  inspection by the Company for
use in connection with tax audits.

     14. Further Conveyances and Assurances.  After the Closing, the Company and
the Purchaser will,  without further cost or expense to, or consideration of any
nature  from the  other,  execute  and  deliver,  or cause  to be  executed  and
delivered,  to the other,  such  additional  documentation  and  instruments  of
transfer and conveyance,  and will take such other and further  actions,  as the
other may reasonably request as more completely to sell,  transfer and assign to
and fully vest in the Purchaser  ownership of the Assets and to  consummate  the
transactions contemplated hereby.

     15. Closing.  The Closing of the sale and purchase  contemplated  hereunder
shall be on or before July 31, 2007,  subject to  acceleration  or  postponement
from time to time as the Company and the Purchaser may mutually agree.

     16.  Deliveries  at the Closing by the Company.  At the Closing the Company
shall deliver to the Purchaser:

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     (a) Contracts,  Agreements,  purchase orders,  rights assignments and other
evidence  of the  Assets  set forth in  Exhibit A with the full  consent  of the
Customers with whom the Assets are contracted.

     (b) Any other  document  which may be  necessary to carry out the intent of
this Agreement.

     17.  Deliveries  at the  Closing  by the  Purchaser.  At the  Closing,  the
Purchaser shall deliver to the Company the following:

     (a) Compensation as set forth above.

     (b)  Convertible  Promissory  Note in the amount of $350,000  USD  attached
herein as Exhibit B.

     (c) Any other  document  which may be  necessary to carry out the intent of
this Agreement.

     18. No  Assignment.  This  Agreement  shall not be  assignable by any party
without the prior written  consent of the other parties,  which consent shall be
subject to such parties' sole, absolute and unfettered discretion.

     19.  Brokerage.  The Company and the Purchaser  agree to indemnify and hold
harmless each other against, and in respect of, any claim for brokerage or other
commissions relative to this Agreement, or the transactions contemplated hereby,
based in any way on agreements,  arrangements,  understandings or contracts made
by either party with a third party or parties whatsoever.

     20.  Mediation  and  Arbitration.  All disputes  arising or related to this
Agreement  must  exclusively  be  resolved  first by  mediation  with a mediator
selected by the parties,  with such mediation to be held in Alameda, CA. If such
mediation fails, then any such dispute shall be resolved by binding  arbitration
under the Commercial  Arbitration Rules of the American Arbitration  Association
in effect at the time the  arbitration  proceeding  commences,  except  that (a)
California  law and the Federal  Arbitration  Act must govern  construction  and
effect,  (b) the locale of any arbitration must be in Alameda,  California,  and
(c) the  arbitrator  must with the award  provide  written  findings of fact and
conclusions  of law. Any party may seek from a court of  competent  jurisdiction
any  provisional  remedy that may be  necessary  to protect its rights or assets
pending the selection of the arbitrator or the arbitrator's determination of the
merits of the controversy.  The exercise of such arbitration rights by any party
will not preclude  the exercise of any  self-help  remedies  (including  without
limitation,  setoff  rights) or the  exercise  of any  non-judicial  foreclosure
rights. An arbitration award may be entered in any court having jurisdiction.

     21.  Attorney's  Fees. In the event that it should become necessary for any
party entitled hereunder to bring suit against any other party to this Agreement
for enforcement of the covenants contained in this Agreement, the parties hereby
covenant and agree that the party or parties who are found to be in violation of
said covenants shall also be liable for all reasonable attorney's fees and costs
of court incurred by the other party or parties that bring suit.

     22.  Benefit.  All the  terms and  provisions  of this  Agreement  shall be
binding  upon and  inure to the  benefit  of and be  enforceable  by each of the
parties hereto, and his respective heirs,  executors,  administrators,  personal
representatives, successors and permitted assigns.

     23.  Notices.  All notices,  requests,  demands,  and other  communications
hereunder shall be in writing and delivered  personally or sent by registered or
certified United States mail, return receipt requested with postage prepaid,  or
by  telecopy  or  e-mail,  if  to  the  Company,   addressed  to  Suining  Yinfa
Construction  and  Engineering  Co.,  Ltd. At 343 Suizhou  Chong Road,  Suining,
Sichuan  Province,  629000 PRC,,  Telephone  number,  825.233.7901 and Facsimile
number,  825.222.2892  and if to the Purchaser,  addressed to IBT Group Inc. c/o
IBT Group  Inc.,  1151 Harbor Bay  Parkway,  Suite 202,  Alameda CA, USA,  94502
Telephone number, 001.510.814.3778 and Facsimile number, 001.510.814.0366.

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     24. Any party hereto may change its address upon 10 days' written notice to
any other party hereto.

     25. Construction.  Words of any gender used in this Agreement shall be held
and  construed to include any other  gender,  and words in the  singular  number
shall be held to include the plural, and vice versa, unless the context requires
otherwise.

     26.  Waiver.  No course of dealing  on the part of any party  hereto or its
agents, or any failure or delay by any such party with respect to exercising any
right,  power or privilege of such party under this  Agreement or any instrument
referred to herein shall operate as a waiver thereof,  and any single or partial
exercise of any such right,  power or  privilege  shall not  preclude  any later
exercise  thereof  or any  exercise  of any  other  right,  power  or  privilege
hereunder or thereunder.

     27.  Cumulative  Rights.  The rights and  remedies  of any party under this
Agreement and the instruments executed or to be executed in connection herewith,
or any of them,  shall be cumulative and the exercise or partial exercise of any
such right or remedy  shall not  preclude  the  exercise  of any other  right or
remedy.

     28. Invalidity. In the event any one or more of the provisions contained in
this Agreement or in any instrument referred to herein or executed in connection
herewith shall, for any reason, be held to be invalid,  illegal or unenforceable
in any respect,  such  invalidity,  illegality,  or  unenforceability  shall not
affect the other provisions of this Agreement or any such other instrument.

     29.  Incorporation  by  Reference.  The  Attachments  and Schedules to this
Agreement  referred  to or included  herein  constitute  integral  parts to this
Agreement and are incorporated into this Agreement by this reference.

     30. Controlling  Agreement.  In the event of any conflict between the terms
of this Agreement or any of the Other Agreements or exhibits referred to herein,
the terms of this Agreement shall control.

     31. Law Governing;  Jurisdiction.  This Agreement  shall be governed by and
construed in accordance with the laws of the State of California, without regard
to any  conflicts of laws  provisions  thereof.  Each party  hereby  irrevocably
submits to the personal  jurisdiction  of the United States  District  Court for
Alameda County,  California, as well as of the Courts of the State of California
over  any  suit,  action  or  proceeding  arising  out of or  relating  to  this
Agreement. Each party hereby irrevocably waives, to the fullest extent permitted
by law, any  objection  which it may now or hereafter  have to the laying of the
venue of any such mediation,  arbitration, suit, action or proceeding brought in
any such county and any claim that any such mediation, arbitration, suit, action
or proceeding brought in such county has been brought in an inconvenient forum.

     32.  Multiple  Counterparts.  This Agreement may be executed in one or more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.  A facsimile transmission
of this signed Agreement shall be legal and binding on all parties hereto.

     33. Entire  Agreement.  This instrument and the attachments  hereto contain
the entire  understanding of the parties and may not be changed orally, but only
by an instrument in writing signed by the party against whom  enforcement of any
waiver, change, modification, extension, or discharge is sought.

                             SIGNATURE PAGE FOLLOWS

                                       7
<PAGE>
IN WITNESS  WHEREOF,  this Agreement has been executed on the date first written
above

                            FOR COMPANY

                            /s/ Wang Ho
                            ----------------------------------------------------
                            Suining Yinfa Construction and Engineering Co., Ltd.
                            Mr. Wang Hao
                            General Manager

                            Date: July 8, 2007

                            FOR: PURCHASER

                            By /s/ Kenneth Yeung
                              --------------------------------------------------
                              Kenneth Yeung, CEO
                              IBT Co., Ltd. of Hong Kong, China.

                            FOR: IBT Group, Inc., / MotorSports Emporium Inc.

                            By /s/ Kenneth Yeung
                              --------------------------------------------------
                              Kenneth Yeung,  CEO

                              Date: July 8, 2007

                              By /s/ Peter Chin
                                ------------------------------------------------
                                Peter Chin, Director

                              Date: July 8, 2007

                                       8
<PAGE>
                                   EXHIBIT A:

               Company Assets (signed contract): $50,000,000. RMB

                                ROSE BEST PROJECT

                 CONTRACTS ON UNDERTAKING CONSTRUCTION PROJECTS

                                  GF 1999-0201

Constituted By

Ministry of Construction of the People's Republic of China
State Administration For Industry & Commerce

          Printed by the Department of Construction of Sichuan Province
<PAGE>

Agreement
The Developer:  Sichuan Juren investment Co. Ltd.
The Contractor: Suining Yinfa Construction & Engineering Co., Ltd.

According to "Contract Law of the Peoples Republic of China",  "Construction Law
of the Peoples  Republic of China" and other  relevant  laws and  administrative
rules,  keep to the  principles  of equality,  unconstraint,  equitableness  and
faithfulness, The developer and the contractor have came to an agreement through
friendly  consultation to conclude the following  contract for the  construction
project.

1. Project Summary
Project name:     Rose Best ; Building A, B, C, and D,
Project address:  Suining Yinhe Garden Apartment
Project content:  Structures   above  +  0.00  in   according   to
                  construction documents as attached as Exhibit A.
Approval number:
Fund sourcing:    self-financing

2. Scope of works of the contract
Scope of works of the contract:  Structures  above + 0.00  (additional  works of
aluminum  alloy,  the lacquer of outer wall, iron balustrade will be signed with
supplementary contracts)

3 Contract date:
Commencement Date:             July 28, 2007
Completion Date:               December 28, 2008
Total period of the project:   17 months

Quality level
Project quality level: Qualified

Contract Sum:
Total Contract Sum: approximately RMB50 millions
50,000,000.00
RMB50,000,000.00

composing of the contract documents
Include

1. This Contract

2. Contract special clauses

3. Contract common clauses
<PAGE>
4. Standard and Norm Technology document

5. Construction documents and drawing sheet

Any minute, agreements or documents in writing automatically become part of this
contract.

The meaning of Relevant terms in the contract, the second part this contract has
defined the same meaning as "general items"

The  developer  promises  contractor  to  pay in  according  to  the  terms  and
conditions of this contract for any amount due to the contractor.

Execution of contract

Date of signing contract June 3, 2007

Place of signing contract:  Office of Suining Yinfa Construction and Engineering
Co., Ltd.

Contract is effective after both parties signed and chopped

The Developer                                     The Contractor

address                                           address

Legal representative                              Legal representative

Entrusted agent                                   Entrusted agent

Telephone                                         Telephone

fax                                               fax

Bank                                              Bank

Account number                                    Account number

Post code                                         Post code
<PAGE>
                                    EXHIBIT B

                           CONVERTIBLE PROMISSORY NOTE

$350,000.00                                                         July 8, 2007

     FOR VALUE  RECEIVED  MotorSports  Emporium,  Inc. (the  "Maker"),  a Nevada
corporation,  1151 Harbor Bay  Parkway,  Suite 202,  Alameda,  CA,  USA,  94502,
Telephone:  1-510-814-3778 and Facsimile:  1-510-814-0366 hereby promises to pay
to Suining Yinfa Construction and Engineering Co., Ltd., 343 Suizhou Chong Road,
Suining,  Sichuan Province,  629000 PRC, Telephone:  825-233-7901 and Facsimile:
825-222-2892 or its successors and assigns (the "Payee"),  at such other address
as Payee shall provide in writing to the Maker for such purpose, a principal sum
of Three  Hundred Fifty  Thousand  Dollars (U.S.  $350,000.00)  (the  "Principal
Amount").

     1. Payments and Maturity.  The Principal  Amount hereunder shall be paid no
later than July 31, 2009 (the "Maturity Date").

     2. Interest Rate.  Interest shall accrue on the unpaid  principal amount of
this Convertible Promissory Note at the rate of 8% per annum.

     3.  Other  Conditions.  At any time,  Maker may  convert  this  Convertible
Promissory Note into preferred  stock of the Maker upon mutually  accepted terms
and conditions and with thirty (30) days written notice to Payee.

     4. Conversion. On or about July 31, 2009, the Payee may convert all or part
of the remaining principal balance,  plus accrued interest,  of this Convertible
Promissory  Note into the common  stock,  par value  $0.001  per  share,  of the
Company (the "Common Stock"). In the event of a conversion, the number of shares
of the Common Stock to be issued shall be  determined by dividing (i) the unpaid
principal balance of this Convertible Promissory Note, plus any accrued interest
by (ii)  eighty  percent  (80%) of the  average of the lowest  five  closing bid
prices  immediately  preceding  any  such  conversion.  All  such  Common  Stock
conversions shall not exceed 4.99% of the then outstanding  Common Stocks of the
Company. If this Convertible  Promissory Note is surrendered for conversion,  it
shall be duly endorsed, or be accompanied by a written instrument of transfer in
a  form  satisfactory  to the  Company  duly  executed  by the  holder  of  this
Convertible  Promissory  Note.  For  convenience,  the  conversion  of  all or a
portion,  as the case may be, of the principal,  plus accrued interest,  of this
Convertible  Promissory  Note into the  Common  Stock is  hereinafter  sometimes
referred to as the conversion of this Convertible  Promissory Note. In the event
that this  Convertible  Promissory  Note is  converted  in part only,  upon such
conversion the Company shall execute and deliver to the Payee,  without  service
charge, a new Convertible  Promissory Note or Convertible  Promissory  Notes, of
any  authorized  denomination  or  denominations  as requested by the Payee,  in
aggregate  principal amount equal to and in exchange for the unconverted portion
of the  principal and accrued  interest of the  Convertible  Promissory  Note so
surrendered.

     5. Mandatory  Prepayment Upon Triggering  Events.  Upon the occurrence of a
Triggering Event (as defined below), the Payee shall have the right, exercisable
at the sole option of the Payee, to require the Maker to prepay all or a portion
of the  outstanding  principal  amount of this Note plus all  accrued and unpaid

                                       1
<PAGE>
interest  thereon,  which shall be due and payable  within fifteen (15) Business
Days of the date on which the notice for the payment therefor is provided by the
Payee. If the Maker fails to pay such payment hereunder in full pursuant to this
Section on the date such  amount is due in  accordance  with this  Section,  the
Maker  will pay  interest  thereon  at a rate of 10% per annum  (or such  lesser
amount  permitted by applicable  law),  accruing daily from such date until such
amount, plus all such interest thereon, is paid in full.

     A  "Triggering  Event"  means  any  one or  more  of the  following  events
(whatever  the  reason and  whether it shall be  voluntary  or  involuntary.  or
effected by operation of law or pursuant to any judgment, decree or order of any
court. or any order,  rule or regulation of any  administrative  or governmental
body):

     (i) any  default in the  payment of the  principal  of interest on or other
payments owing in respect of this Note, free of any claim of  subordination,  as
and when the same shall become due and payable;

     (ii) the Maker or any of its subsidiaries  shall commence or there shall be
commenced  against the Maker or any such  subsidiary a case under any applicable
bankruptcy  or  insolvency  laws as now or hereafter in effect or any  successor
thereto;  or the Maker commences any other proceeding under any  reorganization,
arrangement,  adjustment of debt, relief of debtors, dissolution,  insolvency or
liquidation  or similar  law of any  jurisdiction  whether now or  hereafter  in
effect  relating to the Maker or any  subsidiary  thereof or there is  commenced
against the Maker or any subsidiary  thereof any such bankruptcy,  insolvency or
other proceeding which remains undismissed for a period of 60 days; or the Maker
or any subsidiary. thereof is adjudicated insolvent or bankrupt; or any order of
relief or other order  approving any such case or proceeding is entered;  or the
Maker or any subsidiary  thereof suffers any appointment of any custodian or the
like for it or any substantial part of its property which continues undischarged
or  unstayed  for a period of 60 days;  or the Maker or any  subsidiary  thereof
makes a general assignment for the benefit of creditors; or the Maker shall fail
to pay, or shall state that it is unable to pay, or shall be unable to pay,  its
debts generally as they become due; or the Maker or any subsidiary thereof shall
call  a  meeting  of its  creditors  with a view  to  arranging  a  composition,
adjustment or restructuring of its debts; or the Maker or any subsidiary thereof
shall by any act or failure to act  indicate  its  consent  to,  approval  of or
acquiescence in any of the foregoing;  or any corporate or other action is taken
by the Maker or any  subsidiary  thereof for the purpose of effecting any of the
foregoing;

     (iii) the Maker  shall  fail to  observe  or  perform  any other  covenant,
agreement  or warranty  contained  in, and such  failure or breach shall not, if
subject to the  possibility  of a cure by the Maker,  have been remedied  within
thirty (30) days after the date on which  notice of such failure or breach shall
have been given.

     6. No Waiver of Payee's Rights, etc. All payments of principal and interest
shall be made without setoff, deduction or counterclaim.  No delay or failure on
the part of the Payee in exercising any of its options,  powers, or rights,  nor
any partial or single exercise of its options, powers or rights shall constitute
a waiver  thereof or of any other option,  power or right,  and no waiver on the
part of the Payee of any of its  options,  powers or rights  shall  constitute a
waiver of any other option,  power or right. The Maker hereby waives presentment
of payment,  protest,  and notices or demands in  connection  with the delivery,

                                       2
<PAGE>
acceptance,  performance, default or endorsement of this Note. Acceptance by the
Payee of less than the full  amount due and  payable  hereunder  shall in no way
limit the right of the Payee to require full payment of all sums due and payable
hereunder in accordance with the terms hereof

     7.  Modifications.  No term or provision  contained herein may be modified,
amended or waived except by written  agreement or consent signed by the party to
be bound thereby.

     8. Cumulative  Rights and Remedies;  Usury.  The rights and remedies of the
Payee  expressed  herein  are  cumulative  and not  exclusive  of any rights and
remedies otherwise available. If it shall be found that any interest outstanding
hereunder shall violate  applicable laws governing usury, the applicable rate of
interest outstanding hereunder shall be reduced to the maximum permitted rate of
interest under such law.

     9.  Collection  Expenses.  If this  obligation is placed in the hands of an
attorney for collection  after  default,  and provided the Payee prevails on the
merits in  respect  to its claim of  default,  the  Maker  shall pay (and  shall
indemnify  and hold  harmless  the  Payee  from  and  against),  all  reasonable
attorneys'  fees and expenses  incurred by the Payee in pursuing  collection  of
this Note.

     10.  Successors and Assigns.  This Note shall be binding upon the Maker and
its  successors  and shall inure to the benefit of the Payee and its  successors
and assigns.  The term "Payee" as used herein,  shall also include any endorsee,
assignee or other holder of this Note.

     11. Lost or Stolen Promissory Note. If this Note is lost, stolen, mutilated
or otherwise  destroyed,  the Maker shall execute and deliver to the Payee a new
promissory note  containing the same terms,  and in the same form, as this Note.
In such  event,  the Maker may  require  the  Payee to  deliver  to the Maker an
affidavit of lost  instrument  and customary  indemnity in respect  thereof as a
condition to the delivery of any such new promissory note.

     12. Due  Authorization.  This Note has been duly  authorized,  executed and
delivered  by the Maker and is the legal  obligation  of the Maker,  enforceable
against the Maker in accordance with its terms.

     13.  Governing  Law.  This Note  shall be  governed  by and  construed  and
enforced in accordance with the internal laws of the State of California without
regard  to the  principles  of  conflicts  of law  thereof.  Each  party  hereby
irrevocably  submits  to the  exclusive  jurisdiction  of the state and  federal
courts  sitting  in  the  county  of  Alameda,  State  of  California,  for  the
adjudication  of any dispute  hereunder  or in  connection  herewith or with any
transaction  contemplated  hereby or  discussed  herein and  hereby  irrevocably
waives,  and agrees not to assert in any suit,  action or proceeding,  any claim
that it is not personally  subject to the  jurisdiction of any such court,  that
such suit,  action or  proceeding  is improper.  Each party  hereby  irrevocably
waives  personal  service of process and consents to process being served in any
such suit,  action or  proceeding by mailing a copy thereof to such party at the
address in effect for notices to it under this Note and agrees that such service
shall  constitute  good and  sufficient  service of process and notice  thereof.

                                       3
<PAGE>
Nothing  contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law.

     14.  Definitions.  For the purposes hereof,  the following terms shall have
the following meanings:

     "Business  Day"  means any day  except  Saturday,  Sunday and any day which
shall be a legal holiday or a day on which banking  institutions in the State of
California  are  authorized  or  required by law or other  government  action to
close.

     "Person"  means a  corporation,  an  association,  a  partnership,  limited
liability company an organization,  a business,  an individual,  a government or
political subdivision thereof or a governmental agency.

     IN WITNESS WHEREOF,  the Maker has caused this Convertible  Promissory Note
to be duly executed and delivered as of the date first set forth above.

                    MotorSports Emporium, Inc.

                    /s/ Kenneth Yeung
                    ---------------------------------
                    Kenneth Yeung, President

                                       4

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