Document:

hwke_ex1019.htm

 
 EXHIBIT 10.19
  
 JOINT VENTURE AGREEMENT
  
 A NEVADA JOINT VENTURE PARTNERSHIP
  
 THIS JOINT VENTURE AGREEMENT (herein after referred to as the "Agreement”) is entered into as of this 1st day of June 2020, by and between HawkEye Systems, Inc. (“HawkEye”), Eagle Equities, LLC (“Eagle”) and Steve Hall (“Hall”), for the purpose of procuring, funding the purchase of and sale of personal protection equipment (“PPE”).
  
 WITNESSETH:
  
 WHEREAS, the Parties desire to form a joint venture partnership (the "Venture"), under the laws of the State of Nevada upon execution of this Agreement for the purposes set forth herein and desire to determine between themselves their respective responsibilities, interests, and liabilities in connection with the performance of the before mentioned acquisition; and
  
 NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the Parties hereto hereby agree to constitute themselves as participants in a certain joint venture, henceforth, "Parties" for the purposes before mentioned, and intending to be legally bound hereby, the parties hereto, do covenant, agree and certify as follows:
  
 ARTICLE I. 
  
 DEFINITIONS:
  
 1.1 "Affiliate" shall refer to (i) any person directly or indirectly controlling, controlled by or under common control with another person, (ii) any person owning or controlling 10% or more of the outstanding voting securities of such other person, (iii) any officer, director or other partner of such person and (iv) if such other person is an officer, director, joint venturer or partner, any business or entity for which such person acts in any such capacity.
  
 1.2 "Parties" shall refer to HawkEye and Hall and any successor(s) as may be designated and admitted to the Venture.
  
 1.3 "Percentage of Participation" shall refer to that figure set forth in Article V at section 5.1.
  
 ARTICLE II
  
 FORMATION, NAME, AND PRINCIPAL PLACE OF BUSINESS
  
 2.1 FORMATION
  
 (a) The Parties do hereby form a joint venture partnership (the "Venture") pursuant to the laws of the State of Nevada in order for the Venture to carry on the purposes for which provision is made herein.
  
 	 
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 (b) The Parties shall execute such certificates as may be required by the laws of the State of Nevada or of any other state in order for the Venture to operate its business and shall do all other acts and things requisite for the continuation of the Venture as a joint venture pursuant to applicable law.
  
 2.2 PRINCIPAL PLACE OF BUSINESS 
  
 The Venture shall maintain its principal place of business in Savannah, Georgia. The Venture may re-locate its office from time to time or have additional offices as the Parties may determine, jointly.
  
 ARTICLE III
  
 PURPOSE OF THE JOINT VENTURE
  
 The business of the Venture shall be primarily for the purpose of procurement, financing, transportation, sale and disposition and related matters in personal protection equipment, and all such other business incidental to the general purposes herein set forth (the “Project”).  The Parties acknowledge and agree that Hawkeye is in a joint venture partnership with Ikon Supplies LLC (“Ikon”) for the purposes set forth in the Project and that the principal purpose of this Joint Venture is to provide funding for such purpose.
  
 ARTICLE IV
  
 TERM
  
 The term of the Venture shall commence as of the date hereof and shall be terminated and dissolved upon the earliest to occur of: (i) the sale of the Venture’s ownership in the Project, (ii) the refusal or inability of any Party to this Agreement to meet their requirements, obligations and/or stipulations in this agreement, (iii) the unanimous agreement of the Parties; or (iv) the order of a court of competent jurisdiction.
  
 ARTICLE V
  
 CONTRIBUTION AND PERCENTAGE OF PARTICIPATION
  
 5.1 CONTRIBUTION OF THE VENTURE.
  
 (a) Hall shall contribute a total of $2,277,000 to the venture for the capital needed for the purchase, transportation, insurance, or other costs that are required for procuring the goods or delivering the goods to the customer. Of such amount, Hall agrees to convert $277,000 of such amount into shares of common stock of Hawkeye at $0.25 per share. The balance of the $2,000,000 shall be repaid from proceeds as set forth below.
  
 (b) Hawkeye shall assign to the joint venture its participation in the Joint Venture Agreement with Ikon.
  
 	 
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 (c) Hawkeye agrees to pay all legal, accounting, governmental, fiduciary costs of creating, maintaining and reporting requirements of the joint venture.
  
 (d) Except as otherwise required by law or this Agreement, the Parties shall not be required to make any further capital contributions to the Venture.
  
 5.2 The interest of the Parties in any Net Profits shall be as follows:
  
 a. Until the $2,000,000 advance is repaid in full:
  
 	 HawkEye
	  
	  
	43.5	%
	 Hall
	  
	  
	43.5	%
	 Ikon
	  
	  
	13.0	%

  
 b. Subsequent to repayment of the $2,000,000 for a period of 12 months from the date of repayment:
  
 	 HawkEye
	  
	  
	40.0	%
	 Hall
	  
	  
	20.0	%
	 Ikon
	  
	  
	40.0	%

  
 5.3 The Parties agree to indemnify each other and to hold the other harmless from, any and all losses of the Joint Venture that may be realized in connection with such other Parties’ Percentage of Participation. 
  
 5.4 RETURN OF CAPITAL CONTRIBUTION.
  
 (a) Except as set forth above and otherwise in this Agreement, no Party shall have the right to withdraw its capital contributions or demand or receive the return of his capital contributions or any part thereof.
  
 (b) The Parties shall not be personally liable for the return of capital contributions or any part thereof, except as otherwise provided in this Agreement.
  
 (c) The Venture shall not pay interest on capital contributions of any Party.
  
 5.5 ALLOCATIONS OF NET PROFITS AND LOSSES
  
 For purposes of this Agreement, Net Profits shall be defined as Gross Profits received from the sale of PPE projects less Cost of Goods.
  
 A. DISTRIBUTION OF PROCEEDS:
  
 To the Parties, pro-rata, based on their respective interests as set forth in Section 5.2 hereof.
  
 	 
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 B. NET LOSSES:
  
 (1) Subject to the provisions of this Agreement, Net Losses of the Venture (including any net "book" loss of the Venture resulting from a Capital Event) shall be allocated to the Parties for tax purposes, pro rata, based upon their respective Venture interests as set forth herein.
  
 (2) For purposes of this Agreement, Capital Accounts shall be adjusted hypothetically as provided for in Sections 1.704-1(b)(2)(ii)(d) and 1.704-1(b)(4)(iv)(f) of the Treasury Regulations. These adjustments shall include the qualified income offset as set forth in this Agreement.
  
 C. DISTRIBUTIONS: 
  
 Distributable Cash of the Venture shall be distributed to the Parties, pro rata, based on their respective Venture interests as set forth herein.
  
 ARTICLE VI:
  
 POLICY COMMITTEE
  
 6.1 The management of the Joint Venture shall be conducted pursuant to policy established by the Parties acting through a "Policy Committee" which is hereby established.
  
 6.2 Each of HawkEye and Hall shall have an equal voice in the Policy Committee. For such purpose each Party is assigned the following number of votes and hereby designates the following representatives to exercise such votes:
  
 	 HawkEye
	  
	 50 votes

	 Corby Marshall, Representative
	  
	  

	  
	  
	  

	 Hall
	  
	 50 votes

	 Steve Hall, Representative
	  
	  

  
 PARTY VOTES REPRESENTATIVES
  
 6.3 Each Party may, at any time, substitute an alternative individual in place of any of its above-named representative by serving written notice to the other Party. Each Party's representative or alternative representative on the Policy Committee is hereby granted and shall hereafter possess authority to act for such Party on all matters of interest to it with respect to its participation in the joint venture.
  
 6.4 The Policy Committee shall determine the policy for the management of the Venture by majority vote and, as used in this Agreement, a "majority vote" is defined to be any figure greater than one-half of the authorized votes.
  
 6.5 The Policy Committee shall have the following powers:
  
 (a) To determine the time and place of holding its meetings and the procedures for conducting Committee Affairs.
  
 	 
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 (b) To determine and act upon the various matters, expressed or implied, that are contained in any other section of this Agreement, which requires a decision by the Policy Committee.
  
 (c) To determine and act upon any other matters of joint interest to, or requiring prompt action by, the Joint Venture.
  
 6.6 The Policy Committee shall generally perform its duties at a meeting at which all designated representatives of the Parties are present, but where circumstances warrant, telephone communication between all party representatives or their alternatives is authorized.
  
 6.7 Except as otherwise provided in the Additional Provisions herein, the salaries and expenses of each of the representatives on the Committee shall be borne by the Party whom the representative has been designated to represent and shall not be an expense to the joint venture.
  
 ARTICLE VII
  
 DAY TO DAY OPERATIONS OF THE VENTURE
  
 7.1 The Parties hereby appoint Corby Marshall as the legal Manager (the “Manager”) of the Joint Venture.  Except as limited within the authority granted pursuant to the terms of this Agreement, the Manager shall have the complete power and authority to manage and operate the Company and make decisions affecting its business and affairs.  The Manager shall devote such of his business time to the operations and success of the Company as shall be necessary.
  
 ARTICLE VIII
  
 ACCOUNTING AND AUDITING
  
 8.1 Separate books of accounts shall be kept by the Manager of the transactions of the Venture. Any Party may inspect such books upon reasonable notice and at any reasonable time.
  
 8.2 Periodic audits may be made upon said books at such time as authorized by the Policy Committee by persons designated by the same and copies of said audit shall be furnished to all Parties.
  
 8.3 Upon dissolution of the Venture, a final audit shall be made and copies of such audit shall be furnished to each of the parties.
  
 8.4 It is understood and agreed that the method of accounting used by the Manager and for state and federal income tax purposes shall be the cash based method and that the accounting year shall be the calendar year.
  
 	 
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 ARTICLE IX
  
 RESOLUTION OF DISPUTES
  
 9.1 All disputes arising out of this Agreement between the Parties, that is/are not resolvable by good faith negotiations by the same, shall be resolved by arbitration in Savannah, Georgia before one arbitrator agreed to by the Parties. In so agreeing the parties expressly waive their right, if any, to a trial by jury of these claims and further agree that the award of the arbitrator shall be final and binding upon them as though rendered by a court of law and enforceable in any court having jurisdiction over the same.
  
 ARTICLE X
  
 NON-DISCLOSURE NON-CIRCUMVENTION
  
 10.1 During the term of this Agreement, the Parties agree to keep completely confidential the names and persons of any customers, suppliers, transportation sources, insurance companies, banks, lending institutions, venture capitalists, money angels, corporations, individuals, trusts, borrowers, buyers and sellers, and Internet websites introduced by any of the Parties or their employees or associates.
  
 10.2 During the term of this Agreement, each Party, hereto, agrees not to knowingly circumvent, avoid, bypass, or obviate the other Party, directly or indirectly, to avoid equity participation, payment of fees and commissions, and/or any other form of compensation in any transaction in which a client, investor, bank, lending institution, venture capitalist, money angel, insurance company, corporation, individual, trust lender, borrower, buyer or seller, has been introduced by either Party to the other Party in connection with any loan, finance proposal, current project, trading transaction, collateral request, or other financial transaction requested by the client or customer to a Party.
  
 ARTICLE XI
  
 OTHER PROVISIONS
  
 11.1 The Venture shall be solely responsible for the organization, operation, marketing and management of its business, and shall be responsible for the development of its own ongoing method of business operation, including but not limited to the following: selection and establishment of business sites; sales techniques; marketing plan/system and advertising practices; employee selection, hiring and training; personnel policies and practices; hours of operation; and all other such ongoing concerns in the course of the Venture’s routine business operation and management.  The Venture agrees to obtain and maintain insurance to protect its business in such amounts and terms as are customary for businesses in the industry of the Venture.
  
 11.2 This Agreement and all other agreements, exhibits, and schedules referred to in this Agreement constitute(s) the final, complete, and exclusive statement of the terms of the agreement between the parties pertaining to the subject matter of this Agreement and supersede all prior and contemporaneous understandings or agreements of the parties.  This Agreement may not be contradicted by evidence of any prior or contemporaneous statements or agreements.  No party has been induced to enter into this Agreement by, nor is any party relying on, any representation, understanding, agreement, commitment or warranty outside those expressly set forth in this Agreement.
  
 	 
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 11.3 This agreement is binding upon the heirs, court appointed representatives, assigns, and successors of the parties.
  
 11.4 This agreement shall be governed by the laws of the state of Nevada.
  
 11.5 Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by facsimile or e-mail, or (d) by a commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be addressed as follows:
  
  
 	 If to 
	 Attention: Corby Marshall

	  
	  

	 HawkEye Systems, Inc.:
	 E-mail: corbymarshall@mac.com
  
 Copy to:
  
 Cutler Law Group, P.C.
 6575 West Loop South, Suite 500
 Bellaire, TX 77401
 Attn:  M. Richard Cutler
 Email: rcutler@cutlerlaw.com

	 If to 
  
 Steve Hall:
	 Steve Hall
  
 E-Mail: shall@landmark24homes.com

  
 or to such other address as either party may from time to time specify in writing to the other party.  Any notice shall be effective only upon delivery, which for any notice given by facsimile shall mean notice which has been received by the party to whom it is sent as evidenced by confirmation slip.
  
 11.6 If any term or provision of this Agreement is determined to be illegal, unenforceable, or invalid in whole or in part for any reason, such illegal, unenforceable, or invalid provisions or part thereof shall be stricken from this Agreement, and such provision shall not affect the legality, enforceability, or validity of the remainder of this Agreement.  If any provision or part thereof of this Agreement is stricken in accordance with the provisions of this section, then this stricken provision shall be replaced, to the extent possible, with a legal, enforceable, and valid provision that is as similar in tenor to the stricken provision as is legally possible.
  
 	 
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 11.7 Time is of the essence in respect to all provisions of this Agreement that specify a time for performance; provided, however, that the foregoing shall not be construed to limit or deprive a party of the benefits of any grace or use period allowed in this Agreement.
  
 11.8 The parties shall at their own cost and expense execute and deliver such further documents and instruments and shall take such other actions as may be reasonably required or appropriate to evidence or carry out the intent and purposes of this Agreement.
  
 11.9 No party shall be liable for any failure to perform its obligations in connection with any action described in this Agreement, if such failure results from any act of God, riot, war, civil unrest, flood, earthquake, or other cause beyond such party’s reasonable control (including any mechanical, electronic, or communications failure, but excluding failure caused by a party’s financial condition or negligence).
  
 11.10  Multiple Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.
  
 11.11  Attorney Fees.  In the event that any dispute between the parties should result in litigation or arbitration, the prevailing party in such dispute shall be entitled to recover form the other party all reasonable fees, costs and expenses of enforcing any right of the prevailing party, including without limitation, reasonable attorneys' fees and expenses.
  
 [the remainder of this page intentionally left blank]
  
 	 
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 So agreed and executed as of this 1st day of June, 2020.
  
 	 HawkEye Systems, Inc.
	  

	  
	  

	  
	  

	 By:
	 Corby Marshall, Chief Executive Officer
	  

	  
	  

	 Steve Hall
	  

	  
	  

	  
	  

  
 	 
	9hwke_ex1020.htm

 
 EXHIBIT 10.20
  
 SECURITY AGREEMENT
  
 THIS SECURITY AGREEMENT (as amended, restated, supplemented, extended or otherwise modified from time to time, this “Agreement”) dated as of July 17, 2020, is entered into by Hawkeye Systems, Inc., a Nevada corporation (“Hawkeye”) and HIE LLC (the Debtor”), in favor of Eagle Equities, LLC (“Eagle”), a Nevada limited liability company, for the benefit of itself as secured party.
  
 RECITALS
  
 WHEREAS, Eagle shall issue Secured Promissory Notes (as amended, restated, supplemented, extended or otherwise modified from time to time, each, a “Secured Note” and collectively, the “Secured Notes”) to HIE Joint Venture (the Debtor”) (together with any successors and assigns that at any time may hold an interest in a Secured Note, collectively, the “Secured Note Holder”) for the purpose of funding personal protection equipment purchases (“PPE”); and
  
 WHEREAS, as a condition to the obligations of the Secured Note Holder to loan the Debtor funds pursuant to the Secured Notes, the Secured Note Holders have required Hawkeye and Debtor to enter into this Agreement and grant the security interests described herein in the Collateral in favor of Eagle.
  
 AGREEMENT
  
 NOW THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good, valuable, and binding consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
  
 1. Definitions. Capitalized terms used herein and not otherwise defined herein shall have the meanings provided in the Secured Notes. To the extent that any terms or concepts defined or used herein are defined or used in the UCC (as defined below), such terms or concepts shall be interpreted for purposes hereof in a manner that is consistent with such definition or use in the UCC. The following terms shall have the meanings set forth below:
  
 “Collateral” shall mean that certain Convertible Promissoryy Note from Hawkeye issued to and on behalf of Eagle in the form of Exhibit A hereto.
  
 “Event of Default” shall have the meaning specified in Section 11 of this Agreement. 
  
 “Obligations” shall mean (a) (i) the principal of and any interest on the Secured Notes and (ii) all other obligations and liabilities of Debtor, whether now existing or hereafter incurred, under, arising out of, or in connection with, the Secured Notes and the due performance and compliance by Debtor with all of the terms, conditions, and agreements contained in the Secured Notes; (b) any and all sums advanced by Eagle in order to preserve the Collateral or preserve its Lien and security interest in the Collateral; (c) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations, or liabilities referred to in clauses (a) and (b) above, all costs and expenses of any exercise by Eagle of its rights hereunder, together with attorneys’ fees and court costs; and (d) to the extent not otherwise included in clauses (a), (b), or (c) above, Debtor’s obligations set forth in this Agreement.
  
 “UCC” shall mean the Uniform Commercial Code as in effect in the State of Nevada from time to time.
  
 	 
	
	

	 

  
 2. Grant of Lien. As security for the due and punctual payment and performance in full of all Obligations (whether at the stated maturity, by acceleration, or otherwise and whether now owing or incurred in the future), Debtor hereby pledges, assigns, charges, delivers, and grants to Eagle a continuing perfected security interest in and a general Lien upon all of Debtor’s right, title, and interest in and to the Collateral and all additions thereto and substitutions therefor, whether heretofore, now or hereafter received by or delivered or transferred to Eagle hereunder.
  
 3. Continuing Security Interest.
  
 (a) This Agreement creates an assignment, pledge, charge, continuing perfected security interest in, and general Lien upon, the Collateral and shall (i) remain in full force and effect until all Obligations have been satisfied, (ii) be binding upon Hawkeye and Debtor and their successors, permitted transferees, and permitted assigns, and (iii) inure, together with the rights and remedies of Eagle hereunder, and its successors, transferees, and assigns.
  
 (b) Upon the full satisfaction of all Obligations, the assignment, pledge, charge, Lien, and security interest granted hereunder shall terminate, and all rights to the Collateral shall revert to Hawkeye. Upon such termination, Eagle will (i) execute and deliver to Hawkeye and Debtor such documents as Hawkeye and/or Debtor shall reasonably request to evidence such termination, (ii) deliver and transfer such Collateral to Hawkeye and (iii) file and record with the appropriate filing offices the termination statements, cancellations, satisfactions or similar documents necessary to evidence or otherwise give public notice of the termination of the security interests granted hereunder. In the event that Eagle fails to file such termination statements, cancellations, satisfactions or similar documents, Hawkeye and Debtor are hereby authorized to file and record with the appropriate filing offices, on behalf of Eagle such termination statements, cancellations, satisfactions or similar documents.
  
 4. Debtor Remains Liable. Anything herein to the contrary notwithstanding, (a) Debtor shall remain liable under any agreements which have been (in whole or in part) pledged or assigned herein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; (b) the exercise by Eagle of any of the rights hereunder shall not release Hawkeye or Debtor from any of its duties or obligations under any such agreements; and (c) Eagle shall not have any obligation or liability under any such agreements by reason of this Agreement, nor shall Eagle be obligated to perform any of the obligations or duties of Hawkeye or Debtor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.
  
 5. Delivery and Perfection. Hawkeye and Debtor hereby deliver the Collateral to Eagle for perfection, and authorize Eagle to file one or more financing or continuation statements, and amendments thereto, relating to all or any part of the Collateral, and agrees to take all such other actions and to execute and deliver and file or cause to be filed such other instruments or documents, as Eagle may reasonably require in order to establish and maintain a perfected, valid, and continuing security interest and Lien in the Collateral in accordance with this Agreement and the UCC and other applicable law.
  
 6. Representations and Warranties. Hawkeye represents, warrants and covenants to Eagle that: 
  
 (a) Hawkeye is a corporation duly organized and validly existing under the laws of the State of Nevada;
  
 (b) Hawkeye’s exact legal name, jurisdictions of registration (i.e., incorporation or formation), and chief executive office is set forth in the Secured Note and below its name on the signature pages hereto.
  
 	 
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 7. Covenants. During the term of this Agreement, Hawkeye and Debtor shall:
  
 (a) Take all steps to preserve and protect the Collateral;
  
 (b)  Not change its: (i) name; (ii) chief executive office; (iii) type of organization; (iv) jurisdiction of organization; or (v) other legal structure without at least ten (10) days’ prior written notice to Eagle. Prior to effectuating any change described in the preceding sentence, Hawkeye and/or Debtor shall take or cause to be taken all actions deemed by Eagle to be necessary or desirable to prevent any financing or continuation statement from becoming seriously misleading or rendered ineffective, or the security interests granted herein from becoming unperfected or the relative priority thereof otherwise impaired, as a result of such removal or change.
  
 8. Further Assurances and Protections.
  
 (a) Hawkeye and Debtor shall at their expense do, file, record, make, execute, and deliver all such acts, notices, instruments, statements, or other documents as Eagle may request in writing to perfect, preserve, or otherwise protect the security interest and Liens of Eagle in the Collateral or any part thereof or to give effect to the rights, powers, and remedies of Eagle under this Agreement;
  
 (b)  Hawkeye and/or Debtor will give prompt written notice to Eagle of, and defend Eagle against, any suit, action, or proceeding related to the Collateral or which could adversely affect the security interests and Liens granted hereunder; and
  
 (c) Hawkeye and Debtor authorize Eagle to have this or any other similar agreement recorded or filed with any applicable federal, state or foreign government office.
  
 9. Events of Default. The occurrence of any of the following events or conditions shall constitute an event of default (each an “Event of Default”) under this Agreement: 
  
 (a) the occurrence and continuation of an Event of Default as defined in any of the Secured Notes.  For the avoidance of doubt, the underlying loan secured by the Secured Note shall be due and payable within 90 days of funding and repayment in full on or prior to such date shall be an obligation of such Secured Note; 
  
 (b) any representation or warranty made in this Agreement, any Secured Note or any written statement pursuant hereto or thereto or any other report, financial statement or certificate made or delivered to Eagle shall be untrue or incorrect in any material respect as of the date when made or deemed made; or
  
 (c) the failure or refusal by Debtor to perform, or the breach or violation of, any of any materials terms, obligations, covenants, or warranties of this Agreement and that failure or refusal continues unremedied for five (5) business days after written notice of such failure or refusal is given to Debtor.
  
 10. Remedies upon an Event of Default. On and after the occurrence and continuance of an Event of Default, Eagle may immediately enforce the provisions of the Collateral in whole or in part as if entered into as of the date of this Agreement.  Upon an event of default Eagle can take possession of the Secured Note and enforce it without notice to Hawkeye or Debtor.
  
 11. Eagle Appointed Attorney-in-Fact. Without limiting any rights or powers granted to Eagle pursuant to this Agreement, applicable law or otherwise, Debtor hereby appoints Eagle as its attorney-in-fact, with full power and authority in the place and stead of Debtor and in the name of Debtor or otherwise, from time to time in Eagle’s discretion to take any and all action and to execute, file and record any and all instruments, agreements, and documents which Eagle may deem necessary or advisable to accomplish the purposes of this Agreement, and to receive, endorse and collect all instruments made or payable to Debtor representing any Proceeds in respect of the Collateral or any part thereof and to give full discharge for the same. The appointment set forth in this Section 11 is coupled with an interest and is irrevocable.
  
 	 
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 12. Rights Cumulative. The rights, powers, and remedies of Eagle under this Agreement shall be in addition to all rights, powers, and remedies given to Eagle by virtue of any statute or rule of law or any agreement, all of which rights, powers and remedies shall be cumulative and may be exercised successively or concurrently without impairing Eagle’s security interest, Lien, and assignment in the Collateral.
  
 13. Indemnity and Expenses. 
  
 Eagle shall not have any liability to any Person and shall be indemnified and held harmless by Hawkeye and Debtor for any liability incurred by reason of taking or refraining from taking any action with respect to the Collateral, except in the case such liability results solely from the gross negligence or willful misconduct of Eagle as determined by a final non-appealable judgment by a court of competent jurisdiction. Hawkeye and Debtor agree to indemnify Eagle from and against any and all claims, losses, and liabilities arising out of or connected with this Agreement (including, without limitation, enforcement of this Agreement), except such claims, losses, or liabilities resulting solely from Eagle’s gross negligence or willful misconduct as determined by a final non-appealable judgment by a court of competent jurisdiction. This Section 13 shall survive any termination of this Agreement.
  
 14. Amendment or Waiver. Neither this Agreement nor any terms hereof may be changed, waived, discharged, or terminated unless such change, waiver, discharge or termination is in writing signed by Hawkeye, Debtor and Eagle.
  
 15.  Notices. Except as otherwise expressly provided herein, all notices and other communications provided for hereunder shall be in writing and mailed or delivered: if to Hawkeye or Debtor, at the addresses specified immediately below such name on the signature page hereof; and if to Eagle at its address specified immediately below its name on the signature page hereof; or at such other address as shall be designated by any party in a written notice to the other parties hereto. All such notices and communications shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. 
  
 16. No Waiver. No failure or delay on the part of Eagle in exercising any right, power or privilege hereunder or under the UCC or any other applicable law shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right, power, or privilege hereunder or under the UCC or any other applicable law preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder or thereunder. No notice to or demand on Eagle in any case shall entitle Hawkeye or Debtor to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of Eagle to any other or further action in any circumstances without notice or demand.
  
 17. Severability of Provisions. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of that prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of that provision in any other jurisdiction.
  
 	 
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 18. Non-Assignment. Neither Hawkeye nor Debtor shall have the right to assign its rights or delegate its obligations hereunder or any part thereof to any other person without Eagle’s prior written consent. This Agreement shall be binding upon any successors or assigns of Hawkeye and Debtor, and shall benefit any successors or assigns of Eagle.
  
 19. Integration. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. 
  
 20. Governing Law. This Agreement shall be governed by and construed under the laws of the State of Nevada, without giving effect to conflicts of laws principles. 
  
 21. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. A facsimile, telecopy or other reproduction of this Agreement may be executed by one or more parties to this Agreement, and an executed copy of this Agreement may be delivered by one or more parties to this Agreement by facsimile or similar electronic transmission device (including signature via DocuSign or similar services) pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes.
  
 [Signature Page Follows]
  
 	 
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first written above.
  
 	  
	 HAWKEYE:
	  

	  
	  
	  

	  
	 HAWKEYE SYSTEMS, INC.
	  

	  
	  
	  

	  
	 By: 
	  
	  

	  
	 Name: 
	 Corby Marshall
	  

	  
	 Title: 
	 Chief Executive Officer
	  

	  
	  
	  
	  

	  
	 Address:
	 6605 Abercorn St, Suite 504
	  

	  
	  
	 Savannah, GA 31405
	  

	  
	  
	  

	  
	 DEBTOR:
	  

	  
	  
	  

	  
	 HIE JOINT VENTURE
	  

	  
	  
	  

	  
	 By: 
	  
	  

	  
	 Name:
	 Chaim Vail
	  

	  
	 Title: 
	 Manager
	  

	  
	  
	  
	  

	  
	 Address:
	 390 Whalley Avenue
	  

	  
	  
	 New Haven, CT 06511
	  

	  
	  
	  

	  
	 EAGLE:
	  

	  
	  
	  

	  
	 EAGLE EQUITIES LLC.
	  

	  
	  
	  

	  
	 By: 
	  
	  

	  
	 Name: 
	 Yakov Borenstein
	  

	  
	 Title: 
	 Manager
	  

	  
	  
	  
	  

	  
	 Address:
	 390 Whalley Avenue
	  

	  
	  
	 New Haven, CT 06511
	  

  
 [Signature Page to Security Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}]]