Document:

LETTER
OF INTENT

     

    THIS LETTER OF INTENT,
hereinafter referred to as the “LOI”, is entered into by and,

     

    
      	
              BETWEEN:

            	
              PATTERSON BROOKE RESOURCES,
      INC., a Nevada corporation having an office at 115 Angelene Street,
      Mississauga, Ontario, Canada

            
	 
      	 
      
	 
      	
              (“COMPANY”) 

            
	 
      	 
      
	
              AND:

            	
              GREENTECH HOLDINGS
      LLC, a limited liability company registered under the laws of
      Nevis having an office at Henville Building, Charlestown,
      Nevis

            
	 
      	 
      
	 
      	
              (“GREENTECH”)

            

    

     

    WHEREAS, Greentech owns
certain intellectual property, know-how, trade secrets, data, materials, blue
prints, drawings, copyrights, technology, brand names, logos, designs and
manufacturing techniques for hybrid buses and motor coaches, including Hybrid
Low Floor GTH40, Interurban GTI40 and Commuter Coach GTC45 (the “Assets”).

    

    AND WHEREAS, the Company
wishes to acquire the Assets to develop, manufacture and distribute eco-friendly
buses and luxury motor coaches.

    

    AND WHEREAS, the Company and
Greentech wish to enter into an asset purchase transaction whereby the Company
would purchase the Assets in exchange for the issuance to Greentech of
32,000,000 shares of common stock of the Company.

     

    NOW, THEREFORE, in
consideration of $10.00 and other good and valuable consideration, the parties
agree as follows:

     

    
      	
              1.

            	
              Except
      for the provisions in Paragraphs 6-12, this LOI is expressly intended to
      be non-binding and subject to the satisfactory completion of due diligence
      and the negotiation of mutually acceptable definitive agreements with
      regard to this transaction.

            

    

     

    
      	
              2.

            	
              The
      Company and Greentech agree that they will enter into a definitive
      agreement containing substantially the same terms and provisions as set
      forth in Paragraphs 3-6 of this LOI within sixty (60) days from the date
      of execution of this LOI (the “ Definitive Agreement
      ”).

            

    

     

    
      	
              3.

            	
              Upon
      the satisfaction of the conditions set forth herein and in the Definitive
      Agreement, the Company  shall acquire the Assets in exchange for
      the issuance of 32,000,000 shares of common stock of the Company to
      Greentech, resulting in the Company having 52,000,000 shares issued and
      outstanding upon the closing of the transaction (the “Acquisition”).  

            

    

      

    
      	
              4.

            	
              The
      Definitive Agreement shall contain customary representation and
      warranties, covenants and indemnification
  provisions.

            

    

     

    
      	
              5.

            	
              The
      closing of the Acquisition shall occur as promptly as practicable, but in
      all events on or before the date that is thirty (30) days from the
      execution of the Definitive Agreement (the “Closing”).

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    
      	
              6.

            	
              In
      consideration of the time and effort the Company will incur to pursue this
      transaction, Greentech agrees that, from the date of execution of this LOI
      (or, if sooner, until such time as the parties agree in writing to
      terminate this LOI) until the Closing, neither Greentech nor its
      shareholders nor any person or entity acting on their behalf will in any
      way directly or indirectly (i) solicit, initiate, encourage or facilitate
      any offer to purchase Greentech or any of its assets or equity, (ii) enter
      into any discussions, negotiations or agreements with any person or entity
      which provide for such purchase, or (iii) provide to any persons other
      than the Company or its representatives any information or data related to
      such purchase or afford access to the properties, books or records
      of Greentech to any such persons. Greentech will promptly notify the
      Company of any inquiry or   proposal
      received by Greentech, its shareholders or its representatives offering to
      purchase Greentech or any part of its assets or
  equity.

            

    

      

    
      	
              7.

            	
              Each
      party agrees and acknowledges that such party and its directors, officers,
      employees, agents and representatives will disclose business information
      and information about the proposed transaction in the course of securing
      financings for the Company and the Acquisition, and that the parties and
      their representatives may be required to disclose that information under
      the continuous disclosure requirements of the Securities Exchange Act of
      1934.

            

    

     

    
      	
              8.

            	
              This
      LOI shall be construed in accordance with, and governed by, the laws of
      the State of Nevada, and each party separately and unconditionally
      subjects to the jurisdiction of any court of competent authority in the
      State of Nevada, and the rules and regulations thereof, for all purposes
      related to this agreement and/or their respective performance
      hereunder.

            

    

     

    
      	
              9.

            	
              The
      parties shall prepare, execute and file any and all documents necessary to
      comply with all applicable federal and state securities laws, rules and
      regulations in any jurisdiction where they are required to do
      so.

            

    

     

    
      	
              10.

            	
              If
      any term or provision hereof shall be held illegal or invalid, this LOI
      shall be construed and enforced as if such illegal or invalid term or
      provision had not been contained
herein.

            

    

     

    
      	
              11.

            	
              This
      LOI may be executed in counterparts, by original or facsimile signature,
      with the same effect as if the signatures to each such counterpart were
      upon a single instrument; and each counterpart shall be enforceable
      against the party actually executing such counterpart.  All
      counterparts shall be deemed an original
copy.

            

    

     

    
      	
              12.

            	
              The
      delay or failure of a party to enforce at any time any provision of this
      LOI shall in no way be considered a waiver of any such provision, or any
      other provision of this LOI.  No waiver of, delay or failure to
      enforce any provision of this LOI shall in any way be considered a
      continuing waiver or be construed as a subsequent waiver of any such
      provision, or any other provision of this
LOI.

            

    

    

     

    DATED
EFFECTIVE MARCH 10, 2010

    

    

    PATTERSON
BROOKE RESOURCES, INC.

     

    _____________________________________

    

    

    

    GREENTECH
HOLDINGS, LLC

     

    _____________________________________Unassociated Document

     

    Loan
Agreement

     

    between

     

    1.         Reederei Hartmann GmbH & Co.
KG,

     

    a company
organised and existing under the laws of Germany, with registered office at Neue
Straße 24 – 26789 Leer, Germany, represented by the general partner Reederei
Alfred Hartmann Verwaltungsgesellschaft mbH, same represented by the managing
director, Dr.  Niels Hartmann

     

    –
hereinafter referred to as “RHKG” –

     

    and

     

    2.         Suresh
Capital Maritime Partners Germany  GmbH

     

    a company
organised and existing under the laws of Germany, with registered office at
Garrelsstrasse 14, 26789 Leer, Germany, represented by one of its managing
directors, Mr. Jason Morton

     

    –
hereinafter referred to as the “SCMP” –

     

    WHEREAS

     

    
      	
              1.

            	
              RHKG
      and SCMP are both limited partners in ATL Offshore GmbH & Co. “ISLE OF
      BALTRUM” KG,  (the “KG”), with a subscribed share-capital of EUR
      2,980,000 on part of RHKG and EUR 9,000,000 on part of SCMP;
      and

            

    

     

    
      	
              2.

            	
              SCMP
      has not and remained unable to provide to the KG the part of the
      subscripted share-capital; namely Eur 5,315,000 have not been paid
      in, up to the date of signature of this agreement;
  and

            

    

     

    
      	
              3.

            	
              the
      KG has entered into a shipbuilding contract dated November 3, 2006, for
      the construction of one anchor handling tug supply vessel with FINCANTIERI
      - Cantieri Navali Italiani S.p.A. of Genoa, Italy (hereinafter “FINC”),
      bearing FINC’s hull number 6162
      (the “Vessel”). Such contract, as may have been from time to time altered
      or amended, is hereinafter referred to as the “Shipbuilding Contract”;
      and

            

    

     

    
      	
              4.

            	
              the
      KG has, together with 11 other KG’s, entered into a Loan, Guarantee
      Facility and Credit Facility Agreement dated December 19th, 2008 with
      Norddeutsche Landesbank Girozentrale, Hannover, Germany (“Nord/LB”) as
      lender for the provision of part-financing of the purchase price of the
      Vessel (“Nord/LB Senior Loan Facility”);
and

            

    

     

    
      
        
        

      

      
        1/8

        
          

        

      

      
        
        

      

    

     

    
      	
              5.

            	
              there
      are on-going discussions between the KG and Nord/LB about an increase in
      Nord/LB’s loan commitment, such increase being, inter alia, subject to an
      increase of a SACE-guarantee having been provided in respect of the
      existing Nord/LB Senior Loan Facility (the “Nord/LB Loan Increase”);
      and

            

    

     

    
      	
              6.

            	
              WHEREAS
      it is a condition precedent of the Nord/LB Senior Loan Facility that the
      equity in the KG is fully paid up prior to disbursement of the relevant
      loan tranche to the KG; and

            

    

     

    
      	
              7.

            	
              RHKG
      has therefore provided additional funds in order to allow for this
      condition to be fulfilled; and

            

    

     

    
      	
              8.

            	
              In
      order to clarify the duties and obligations connected thereto, RHKG wishes
      to enter into a loan agreement with
SCMP.

            

    

     

    THE
PARTIES THEREFORE NOW AGREE AS FOLLOWS:

     

    A.

    Loan
from RHKG to SCMP

     

    
      	
              I.

            	
              Grant and Purpose of
      the SCMP-Loan

            

    

     

    
      	
              1.

            	
              RHKG
      has granted on September 29, 2009 a loan to the KG in the amount of
      € 5,315,000 (in words: Euro five million three hundred fifteen
      thousand) (the “KG Loan”).

            

    

     

    
      	
              2.

            	
              SCMP
      has agreed to assume the debt of the KG under the KG Loan in exchange for
      credit by the KG of a share-capital contribution in the amount of the KG
      Loan and acknowledges that, by execution hereof, it owes RHKG the amount
      of the KG Loan on terms as set out in this Loan Agreement (the “SCMP
      Loan”).  The KG hereby accepts the assignment of the KG Loan to
      SCMP and agrees to credit SCMP with a share-capital contribution in the
      amount of the KG Loan.  The parties agree to treat the
      assumption of the KG Loan by SCMP and the share-capital contribution
      effective as of October 2, 2009.

            

    

    

    
      
        
        

      

      
        2/8

        
          

        

      

      
        
        

      

    

     

    
      	
              II.

            	
              Interest on the
      SCMP-Loan

            

    

     

    
      	
              1.

            	
              The
      SCMP Loan shall bear interest of 6% p.a. Interest shall be calculated on
      the basis of the exact number of days outstanding, the exact amount
      outstanding and a 360 days year.

            

    

     

    
      	
              2.

            	
              Said
      interest is to be paid by SCMP to RHKG on the day following one year after
      signing of this agreement and on any of the four anniversaries thereto
      without any taxes, fees and other
charges.

            

    

     

    
      	
              III.

            	
              Term of the
      SCMP-Loan

            

    

     

    
      	
              1.

            	
              The
      SCMP-Loan is granted for a fixed period of 5 (five) years after signing of
      this Agreement. The SCMP-Loan shall be repaid by SCMP to RHKG 60 months
      after signing hereof.

            

    

     

    
      	
              2.

            	
              The
      SCMP-Loan shall be prepaid prior to the end of the 5
      year-period:

            

    

     

    
      	
              2.1

            	
              in
      case SCMP, in its sole judgment, has accumulated sufficient funds to make
      payment of all or part of the outstanding amounts under the SCMP Loan;
      or

            

    

     

    
      	
              2.2

            	
              in
      case of a sale or actual or agreed total loss of the Vessel; within 5
      (five) banking days after the purchase price from any buyer of the Vessel
      has been paid or any substitute from any insurance and/or P&I has been
      paid.

            

    

     

    
      	
              2.3

            	
              in
      case the Nord/LB Loan increase can be achieved, SCMP shall use its best
      endeavours (i) to have the KG – in a legally admissible way - pay out to
      SCMP an amount equivalent to the SCMP-Loan, in which case SCMP is obliged
      to repay the SCMP-Loan immediately to RHKG or, (ii) to make a voluntary
      early repayment of the SCMP-Loan by other available
  means.

            

    

     

    
      	
              3.

            	
              SCMP
      shall be entitled to repay all or any portion of the SCMP-Loan, without
      penalty at any time prior to the end of the loan period. Such pre-payments
      have to be advised by SCMP to RHKG at least 10 banking days in
      advance.

            

    

     

    
      	
              IV.

            	
              Securities

            

    

     

    
      	
              .

            	
              Payment
      of the SCMP-Loan of EUR 5,315,000.00 (Euro five million three hundred
      fifteen thousand) and relevant interest will be secured cumulatively by
      the following (each a “Security Instrument” and collectively the “Security
      Instruments”) in a form acceptable to
RHKG:

            

    

     

    
      
        
        

      

      
        3/8

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              a)

            	
              Notarial
      deed containing an abstract acknowledgment of debt in the amount of the
      SCMP-Loan plus 6% interest p.a. with submission to immediate execution
      (“abstraktes Schuldanerkenntnis mit Unterwerfung unter die sofortige
      Zwangsvollstreckung”) – as per annex 1
hereto.

            

    

     

    
      	
               
      

            	
              b)

            	
              Assignment
      by SCMP of all rights to dividend payments arising from a share-capital of
      EUR 5,315,000.00 from the KG, provided that in case of partial re-payment
      of the loan RHKG shall release the rights to dividends in relation to such
      part of the share-capital for which payments have been
    made;

            

    

     

    
      	
               
      

            	
              c)

            	
              upon
      demand by RHKG pledge the shares held by SCMP in the KG up to a nominal
      value of € 5,315,000.00; for purposes hereof, the parties agree that
      upon any exercise by RHKG against the pledged shares, the value of such
      shares surrendered shall be the value of the share-capital paid for such
      shares.

            

    

     

    
      	
              V.

            	
              Warranties and
      Representations, Covenants

            

    

     

    
      	
              1.

            	
              SCMP
      shall use its reasonable best efforts to collect sufficient funds to be
      able to repay the SCMP-loan before the expiry of the five-year
      term.

            

    

     

    
      	
              2.

            	
              SCMP
      shall not dispose any of its assets or accept any restructuring measures
      in a way unreasonably detrimental to RHKG’s security
    interest.

            

    

     

    
      	
              3.

            	
              To
      the knowledge of SCMP, KG has not any dividend restriction other than with
      NORD/LB or the Share Transfer Agreement in place as to the distribution of
      profits and will not agree to any such restriction, other than provided in
      the agreement with Nord/LB;

            

    

     

    
      	
              4.

            	
              SCMP
      shall present financial statements fully audited in accordance with GAAP
      to RHKG latest at June 30th
      of the following year.

            

    

     

    
      	
              5.

            	
              SCMP
      shall present non-audited semi-annual management accounts (i.e. profit and
      loss, and balance sheet) per June 30th
      to RHKG on July 30th
      of each year.

            

    

     

    
      	
              6.

            	
              The
      profits of the KG distributed to SCMP arising from a share-capital of EUR
      5,315,000.00 from the KG are reserved and used only for the repayment of
      the SCMP-Loan.

            

    

     

    
      
        
        

      

      
        4/8

        
          

        

      

      
        
        

      

    

     

    
      	
              VI.

            	
              Events of
      Default

            

    

     

    
      	
               
      

            	
              1.

            	
              An
      Event of Default occurs if:

            

    

     

    
      	
               
      

            	
              a.

            	
              SCMP
      fails to pay when due the SCMP-Loan or interest or other sum payable
      hereunder or under or pursuant to any of the Security Instruments or other
      document relating to this Agreement;
or

            

    

     

    
      	
               
      

            	
              b.

            	
              SCMP
      defaults in the performance or observance of any other obligation or term
      contained herein, in any of the Security Instruments or other document
      relating to this Agreement; or

            

    

     

    
      	
               
      

            	
              c.

            	
              this
      Agreement or any of the Security Instruments ceases in whole or in part to
      be valid, binding or enforceable;
or

            

    

     

    
      	
               
      

            	
              d.

            	
              any
      representation, warranty covenant or undertaking made by SCMP in this
      Agreement or in any certificate, statement or other document delivered in
      connection with the execution and delivery hereof shall prove to have been
      incorrect, inaccurate or misleading in any material respect;
      or

            

    

     

    
      	
               
      

            	
              e.

            	
              there
      is a material adverse change in the financial situation of SCMP and such
      occurrence in the opinion of RHKG makes it unlikely that SCMP will be able
      to perform their obligations hereunder and/or under the Security
      Instruments in the manner provided herein and/or therein;
    or

            

    

     

    
      	
               
      

            	
              f.

            	
              SCMP
      ceases or threatens to cease to carry on its business or disposes or
      threatens to dispose of any substantial part of its assets or the same are
      seized or appropriated for any reason;
or

            

    

     

    
      	
               
      

            	
              g.

            	
              SCMP
      becomes insolvent or bankrupt or becomes unable to pay its debts as they
      mature or makes any composition with or assignment for the benefit of its
      creditors or applies for or consents to or sustains the appointment of a
      trustee or receiver in respect of its assets or a substantial part thereof
      or ceases or threatens to cease to carry on business;
  or

            

    

     

    
      	
               
      

            	
              h.

            	
              SCMP
      ceases to be a limited partner (Kommanditist) of the KG
      holding a minimum of fifty (50) percent of the KG;
  or

            

    

     

    
      	
               
      

            	
              i.

            	
              any
      event of default occurs under the Nord/LB Senior Loan Facility and Nord/LB
      has therefore given notice of termination of the Senior
    Loan.

            

    

     

    
      
        
        

      

      
        5/8

        
          

        

      

      
        
        

      

    

    
       

      
        	
                 
      

              	
                2.

              	
                

                  If
      any such event occurs, RHKG shall be entitled by written notice to the
      SCMP to declare the SCMP-Loan immediately due and payable with interest
      accrued thereon and with the ability to enforce the Securities or any of
      them.

                

              

      

    

     

    
      B.

    

    
      Further
Disbursements;

    

    
      Costs
and expenses

    

     

    
      	
               
      

            	
              1.

            	
              SCMP
      shall reimburse RHKG for the costs of any security provided in respect of
      the Loan, including but not limited to the costs of third parties at
      RHKG’s request and costs.

            

    

     

    
      	
               
      

            	
              2.

            	
              SCMP
      shall re-imburse RHKG for any cost of legal advice in relation to this
      agreement, including but not limited to disbursements, taxes, duties
      etc.

            

    

     

    
      	
               
      

            	
              3.

            	
              An
      invoice provided by RHKG and supported by relevant vouchers or other
      documentation of disbursements shall be conclusive evidence of the amounts
      payable by SCMP pursuant to this section
C.

            

    

     

    
      	
               
      

            	
              4.

            	
              Any
      other costs in relation hereto are to be borne by the party that incurs
      them

            

    

     

    C.

    Final
Provisions

     

    
      	
              I.

            	
              Payments

            

    

     

    
      	
               
      

            	
              Any
      payment to RHKG under the SCMP-Loan shall be made to the following bank
      account of RHKG:

            

    

     

    
      	
               
      

            	
              Ostfriesische
      Volksbank eG,

            

    

    
      	
               
      

            	
              Leer/Germany,

            

    

    
      	
               
      

            	
              BIC:
      GENODEF1LER

            

    

    
      	
               
      

            	
              IBAN:
      DE 23 285 900 75 000 1799 000

            

    

     

    II.         Severability

     

    Should
any provision of this Agreement be invalid or unenforceable or to be regarded as
invalid or unenforceable, then the validity and enforceability of the remaining
provisions of this Agreement shall not be affected. In this case, the parties
will identify and replace the invalid or unenforceable provision or provisions
with provision/provisions which comes/come closest to the commercially intended.
The same applies in case of gaps in this Agreement.

     

    
      
        
        

      

      
        6/8

        
          

        

      

      
        
        

      

    

     

    
      	
              III.

            	
              Modifications

            

    

     

    Any and
all changes and/or amendments to this Agreement shall be in writing only; this
applies in particular to this provision.

     

    
      IV.     
Applicable Law and
Settlement of Disputes

    

     

    
      	
              1.

            	
              All
      rights and obligations arising out of or in connection with this Agreement
      shall be governed by and interpreted according to the Law of the Federal
      Republic of Germany.

            

    

     

    
      	
              2.

            	
              All
      disputes arising out of or in connection with this Agreement or concerning
      its validity shall be finally settled by arbitration in accordance with
      the Arbitration Rules of the German Maritime Arbitration Association.
      Place of arbitration is Hamburg. Language of Arbitration is
      English.

            

    

     

    
      	
              V.

            	
              Notices

            

    

     

    
      	
              1.

            	
              Any
      notice to be served on any party by the other shall be sent by prepaid
      recorded delivery or registered post or by facsimile and shall be deemed
      to have been received by the addressee within 72 hours of posting or 24
      hours if sent by facsimile to the correct facsimile number of the
      addressee.  Time for service of notice shall not run during a
      day when it is not a business day in the place of
    addressee.

            

    

     

    
      	
              2.

            	
              The
      Parties’ addresses and other details for the purposes of this Clause 14
      are as follows:

            

    

     

    Reederei
Hartmann GmbH & Co. KG

    Attn: Dr.
Niels Hartmann

    Neue
Straße 24

    26789
Leer

    Germany,

    Tel.     +49
– 491 - 999700

    
      Fax:     +49
– 491 -9997060

      Email:
n.hartmann@hartmann-ag.com

    

     

    
      
        
        

      

      
        7/8

        
          

        

      

      
        
        

      

    

     

    Suresh
Capital Maritime Partners Germany GmbH

    c/o Cain,
Watters & Associates

    Attn.:
Jason Morton

    5580
Peterson Lane - Suite 250,

    75240
Dallas,

    United
States of America

    Tel.:    +
1 972 392 5400 ;

    E-mail:
Jmorton@3to1fmr.com

     

    or any
other address notified by a party to all other parties.

     

    Signed
this 10th day of
February, 2010

     

    
      
        
          
            	
                    /s/  Jason
      Morton

                  	 	
                    /s/
      Dr. Niels Hartmann

                  
	
                    Suresh
      Capital Maritime Partners

                    Germany
      GmbH

                  	 
      	
                    Reederei
      Hartmann GmbH & Co. KG

                  
	 
      	 
      	 
      
	
                    By:
      Jason Morton

                    Title:
      Managing Director

                  	 
      	
                    By:
      Dr. Niels Hartmann

                    Title:
      Managing Director

                  

          

        

      

    

     

    
      
        
        

      

      
        8/8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]