Document:

f8k06290710xii_speedhaul.htm

    Exhibit
      10.12

    

    AMENDED
      AND RESTATED OPERATING AGREEMENT

    by
      and among

    SPEEDHAUL
      HOLDINGS, INC.

    GOLD
      HORSE INTERNATIONAL, INC.

    GLOBAL
      RISE INTERNATIONAL LIMITED

    INNER
      MONGOLIA JIN MA REAL ESTATE DEVELOPMENT COMPANY

     LIMITED (“IMJM
      REAL ESTATE”)

    and

    SHAREHOLDERS
      OF IMJM REAL ESTATE

    (English
      Translation)

     

    This
      Amended and Restated Operating Agreement (this “Agreement”) is dated June
      29, 2007, and is entered into in Hohhot, China by and among Speedhaul Holdings,
      Inc. (OTCBB: SPEH) (“Speedhaul”), Gold Horse International, Inc, a
      company incorporated under the laws of the State of Nevada, the United
      States, (“Gold Horse”), Global Rise International Limited, a limited
      liability company organized under the laws of the Cayman Islands and
      wholly-owned subsidiary of Gold Horse (“Global Rise”) and Inner Mongolia
      Jin Ma Real Estate Development Company Limited, a limited liability company
      organized under the laws of the PRC (“IMJM Real Estate”), with a
      registered address at No 44, Tongdao Road, South, Hui Ming District, Hohhot
      City, Inner Mongolia, China 010030, and shareholders holding 100% outstanding
      shares of IMJM Real Estate (the “Shareholders of IMJM Real Estate”). The
      parties to this Agreement are referred to collectively herein as the
“Parties.”

    

    RECITALS

     

    A.           Speedhaul
      is a public reporting corporation incorporated under the laws of the State
      of
      New Jersey, the United States.

    B.           Gold
      Horse is a Nevada corporation and wholly-owned subsidiary of Speedhaul, pursuant
      to a share exchange agreement under which the shareholders of Gold Horse and
      their assignees acquired 97% of the issued and outstanding shares of Speedhaul
      (the “Transaction”).

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    C.           Global
      Rise is a wholly owned subsidiary of Gold Horse.

    D.           IMJM
      Real Estate is a company incorporated in Inner Mongolia, China, and is engaged
      in hotel operation and management business (the “Business”);

    E.           The
      undersigned Shareholders of IMJM Real Estate collectively own over 100% of
      the
      equity interests of IMJM Real Estate.

    F.           Gold
      Horse and IMJM Real Estate were previously parties to an Operating Agreement
      dated August 31, 2006.

    G.           In
      connection with the Transaction, the parties wish to amend and restate the
      August 31, 2006 operating agreement, which shall be amended and restated in
      its
      entirety in the form of this Agreement.

    H.           The
      Parties are entering into this Amended and Restated Operating Agreement to
      define and set forth the business relationship among Speedhaul, Gold Horse,
      Global Rise, and IMJM Real Estate, relating to IMJM Real Estate’s
      operations.

    NOW
      THEREFORE, all parties of this Agreement hereby mutually agree as
      follows:

     

    
      	
              1.

            	
              Global
                Rise agrees, subject to the satisfaction of the relevant provisions
                by
                IMJM Real Estate herein, as the guarantor for IMJM Real Estate in
                the
                contracts, agreements or transactions in connection with IMJM Real
                Estate’s operation between IMJM Real Estate and any other third party, to
                provide full guarantee for the performance of such contracts, agreements
                or transactions by IMJM Real Estate.  IMJM Real Estate agrees,
                as a counter-guarantee, to pledge all of its assets, including accounts
                receivable, to Global Rise.  According to the aforesaid
                guarantee, Global Rise wishes to enter into written guarantee agreements
                with IMJM Real Estate’s counter parties thereof to assume liability as the
                guarantor when and if needed; therefore, IMJM Real Estate and Shareholders
                of IMJM Real Estate shall take all necessary actions (including but
                not
                limited to executing and delivering relevant documents and filing
                of
                relevant registrations) to carry out the arrangement of counter-guarantee
                to Global Rise.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              2.

            	
              In
                consideration of the requirement of Article 1 herein and assuring
                the
                performance of the Services Agreement between Global Rise and IMJM
                Real
                Estate and the payment of the payables accounts by IMJM Real Estate
                to
                Global Rise, IMJM Real Estate together with the Shareholders of IMJM
                Real
                Estate hereby jointly and severally agree that IMJM Real Estate shall
                not
                conduct any transaction which may materially affects the assets,
                obligations, rights or the operations of IMJM Real Estate (excluding
                the
                business contracts, agreements, sell or purchase assets during IMJM
                Real
                Estate’s regular operation and the lien obtained by relevant counter
                parties due to such agreements) without prior written consent of
                Global
                Rise, including but not limited to the
                following:

            

    

     

    
      	
               

            	
              2.1

            	
              To
                borrow money from any third party or assume any
                debt;

            

    

     

    
      	
               

            	
              2.2

            	
              To
                sell, license, transfer, or acquire from or to any third party any
                asset
                or right, including but not limited to any plant, equipment, real
                property
                or personal property, or any intellectual property
                right;

            

    

     

    
      	
               

            	
              2.3

            	
              To
                provide any guarantees to any third parties using its assets or
                intellectual property rights or to provide any guaranty for any third
                party obligations;

            

    

     

    
      	
               

            	
              2.4

            	
              To
                assign to any third party any agreements related to the
                Business.

            

    

     

    
      	
               

            	
              2.5

            	
              To
                engage in any other business consulting agreements with any third
                party or
                to engage in any other business activities other than the
                Business.

            

    

    

    
      	
              3.

            	
              In
                order to ensure the performance of the Services Agreement between
                Global
                Rise and IMJM Real Estate and the payment of the various payables
                by IMJM
                Real Estate to Global Rise, IMJM Real Estate together with the
                Shareholders of IMJM Real Estate hereby jointly and severally agree
                to
                accept, from time to time, operation guidance set by Global Rise
                on,
                including but not limited to, business and marketing strategies,
                business
                planning, business operation guidance, the appointment and dismissal
                of
                its directors and officers, the hiring and firing employees, its
                daily
                operation of the Business, and its financial and budgeting
                system.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              4.

            	
              IMJM
                Real Estate together with the Shareholders of IMJM Real Estate hereby
                jointly and severally agree that and the Shareholders of IMJM Real
                Estate
                shall appoint the person recommended by Global Rise as the directors
                of
                IMJM Real Estate, and IMJM Real Estate shall appoint Global Rise’s senior
                managers as IMJM Real Estate’s General Manager, Chief Financial Officer,
                and other senior officers. If any of the above senior officers resigns
                or
                is dismissed by Global Rise, he or she shall no longer be qualified
                to
                take any position as an officer or director of IMJM Real Estate and
                IMJM
                Real Estate shall appoint other senior officers of Global Rise recommended
                by Global Rise to take such position. The person recommended by Global
                Rise in accordance with this Article herein should comply with the
                stipulation on the qualifications of directors, General Manager,
                Chief
                Financial Officer, and other senior officers pursuant to applicable
                law.

            

    

     

    
      	
              5.

            	
              IMJM
                Real Estate together with the Shareholders of IMJM Real Estate, hereby
                jointly and severally agree and confirm that IMJM Real Estate shall
                seek a
                guarantee from Global Rise prior to any attempt to obtain such guarantee
                from another party, if IMJM Real Estate needs any guarantee for the
                performance of any contract, loan or financing transaction. In such
                case,
                Global Rise shall have the right but not the obligation to provide
                the
                appropriate guarantee to IMJM Real Estate at its own discretion.
                If Global
                Rise decides not to provide such guarantee, Global Rise shall issue
                a
                written notice to IMJM Real Estate as soon as practicable and IMJM
                Real
                Estate may seek a guarantee from other third
                party.

            

    

     

    
      	
              6.

            	
              In
                the event that any of the agreements between Global Rise and IMJM
                Real
                Estate terminate or expire, Global Rise shall have the right but
                not the
                obligation to terminate all agreements between Global Rise and IMJM
                Real
                Estate including but not limited to the Services
                Agreement.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              7.

            	
              Any
                amendment and supplement of this Agreement shall be made in writing
                signed
                by all parties and shall be subject to the prior unanimous
                consent of the members of the board of directors of Speedhaul. The
                amendment and supplement duly executed by all parties shall be deemed
                as a
                part of this Agreement and shall have the same legal effect as this
                Agreement.

            

    

     

    
      	
              8.

            	
              If
                any clause hereof is judged as invalid or non-enforceable according
                to
                applicable laws, such clause shall be deemed invalid only with respect
                to
                the affected clauses, and without affecting other clauses hereof
                in any
                way.

            

    

     

    
      	
              9.

            	
              IMJM
                Real Estate shall not assign its rights and obligations under this
                Agreement to any third party without the prior written consent of
                Global
                Rise. IMJM Real Estate hereby agrees that Global Rise may assign
                its
                rights and obligations under this Agreement at its discretion and
                such
                transfer shall only be subject to (a) unanimous consent of the Board
                of
                Directors of Speedhaul, and (b) a written notice sent to IMJM Real
                Estate
                by Global Rise, and no any further consent from IMJM Real Estate
                will be
                required.   Notwithstanding the foregoing, Global Rise may
                assign its rights and obligations under this Agreement to a wholly-owned
                foreign entity (“WOFE”) in the PRC that is a wholly-owned subsidiary of
                Global Rise, provided that such WOFE becomes a party to this
                Agreement.

            

    

     

    
      	
              10.

            	
              All
                parties acknowledge and confirm that any oral or written materials
                communicated pursuant to this Agreement are confidential documents.
                All
                parties shall keep secret of all such documents and not disclose
                any such
                documents to any third party without prior written consent (except
                the
                written consent of the Shareholders of IMJM Real Estate shall not
                be
                required) from other parties except under the following conditions:
                (a)
                such documents are known or shall be known by the public (excluding
                the
                receiving party discloses such documents to the public without
                authorization); (b) any documents disclosed in accordance with applicable
                laws or rules or regulations of stock exchange; (c) any documents
                required
                to be disclosed by any party to its legal counsel or financial consultant
                for the purpose of the transaction of this Agreement by any party,
                and
                such legal counsel or financial consultant shall also comply with
                the
                confidentiality as stated hereof. Any disclosure by employees or
                agencies
                employed by any party shall be deemed the disclosure of such party
                and
                such party shall assume the liabilities for its breach of contract
                pursuant to this Agreement. This Article shall survive termination
                of this
                Agreement.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              11.

            	
              This
                Agreement shall be governed by and construed in accordance with the
                laws
                of the PRC.

            

    

     

    
      	
              12.

            	
              The
                parties shall strive to settle any dispute arising from the interpretation
                or performance of this Agreement through friendly
                consultation.  In case no settlement can be reached through
                consultation, each party can submit such matter to China International
                Economic and Trade Arbitration Commission (“CIETAC”) for
                arbitration in accordance with its rules of CIETAC.  The
                arbitration proceedings shall take place in Beijing and shall be
                conducted
                in Chinese.  Any resulting arbitration award shall be final and
                conclusive and binding upon all the
                parties.

            

    

     

    
      	
              13.

            	
              This
                Agreement shall be executed by a duly authorized representative of
                each
                party as of the date first written above and become effective
                simultaneously.

            

    

     

    
      	
              14.

            	
              Notwithstanding
                Article 13 hereof, the parties confirm that this Agreement shall
                constitute the entire agreement of the Parties with respect to the
                subject
                matters therein and supersedes and replaces all prior or contemporaneous
                verbal and written agreements and
                understandings.

            

    

     

    
      	
              15.

            	
              The
                term of this agreement is ten (10) years unless early termination
                occurs
                in accordance with relevant provisions herein or in any other relevant
                agreements reached by all parties.  This Agreement may be
                extended only upon Global Rise’s written confirmation prior to the
                expiration of this Agreement and the extended term shall be determined
                by
                the Parties hereto through mutual consultation.  During the
                aforesaid term, if Global Rise or IMJM Real Estate is terminated
                at
                expiration of the operation term (including any extension of such
                term) or
                by any other reason, this Agreement shall be terminated upon such
                termination of such party, unless such party has already assigned
                its
                rights and obligations in accordance with Article 9
                hereof.

            

    

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              16.

            	
              This
                Agreement shall be terminated on the expiration date unless it is
                renewed
                in accordance with the relevant provision herein.  During the
                valid term of this Agreement, this Agreement may not be terminated
                by IMJM
                Real Estate.  Notwithstanding the above stipulation, and upon
                unanimous consent of the Board of Directors of Speedhaul, Global
                Rise
                shall have the right to terminate this Agreement at any time by issuing
                a
                thirty (30) days prior written notice to IMJM Real
                Estate.

            

    

     

    
      	
              17.

            	
              This
                Agreement has been executed in duplicate originals, each Party has
                received one (1) duplicate original, and all originals shall be equally
                valid. This Agreement has both an English version and a Chinese version.
                Both versions are equally authentic. Where a comparison of the authentic
                texts of both versions of this Agreement renders a difference in
                meaning,
                the meaning which best reconciles the texts, having regard to the
                object
                and purpose of this Agreement shall be
                adopted.

            

    

     

    

    [SIGNATURE
      PAGE FOLLOWS]

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    SIGNATURE
      PAGE

    

    IN
      WITNESS WHEREOF each party hereto has caused this Agreement duly
      executed by itself or a duly authorized representative on its behalf as of
      the
      date first written above.

    

    

    SPEEDHAUL:                                           Speedhaul
      Holdings, Inc.

              By:
/s/
      Andrew
      Norins____________________

            Andrew
      Norins, Chief
      Executive Officer

    

    GOLD
      HORSE:                                       Gold
      Horse International, Inc.

              
By:
      /s/ Liankuan Yang____________________

            Liankuan
      Yang, Chief
      Executive Officer

    

    GLOBAL
      RISE:                                       Global
      Rise International Limited

              
By:
      /s/ Liankuan Yang____________________

            Liankuan
      Yang, Chief
      Executive Officer

    

    IMJM
      REAL
      ESTATE:                        Inner Mongolia Jin Ma
      Real Estate Development Company Limited

             
By:
/s/
      Liankuan
      Yang_____________________

            Liankuan
      Yang, Chief
      Executive Officer

    

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    

    SIGNATURE
      PAGE FOR SHAREHOLDERS OF IMJM REAL ESTATE

    

    

    SHAREHOLDERS
      OF IMJM REAL ESTATE:

    /s/
      Yang Liankuan__________________

    By:
      Yang
      Liankuan

    (PRC
      ID
      Card No.: 150103570713017)

    Shares
      of
      IMJM Real Estate owned by Yang Liankuan:
      70%

     

    /s/
      Ma
      Runlan______________________

    By:
      Ma
      Runlan

    (PRC
      ID
      Card No.: 150103600421102)

    Shares
      of
      IMJM Real Estate owned by Ma Runlan: 15%.

     

    /s/
      Yang Yang______________________

    By:
      Yang
      Yang

    (PRC
      ID
      Card No.: 150103820724052)

    Shares
      of
      IMJM Real Estate owned by Yang Yang: 15%

     

    9f8k06290710xiii_speedhaul.htm

    
      Exhibit
        10.13

      

      AMENDED
        AND RESTATED EQUITY PLEDGE AGREEMENT

      by
        and among

      SPEEDHAUL
        HOLDINGS, INC.

      GOLD
        HORSE INTERNATIONAL, INC.

      GLOBAL
        RISE INTERNATIONAL LIMITED

      INNER
        MONGOLIA JIN MA REAL ESTATE DEVELOPMENT COMPANY LIMITED (“IMJM REAL
        ESTATE”)

      and

      SHAREHOLDERS
        OF IMJM REAL ESTATE

      (English
        Translation)

       

      This
        Amended and Restated Equity Pledge Agreement (hereinafter this
“Agreement”) is dated June 29, 2007,  and is entered into in
        Hohhot, China by and among Speedhaul Holdings, Inc. (OTCBB: SPEH)
        (“Speedhaul”), Gold Horse International, Inc. a company incorporated
        under the laws of the State of Nevada, the United States (“Gold Horse”),
        Global Rise International Limited, a limited liability company organized
        under
        the laws of the Cayman Islands and wholly-owned subsidiary of Gold Horse
        (“Global Rise” or “Pledgee”), Inner Mongolia Jin Ma Real Estate
        Development Company Limited, a limited liability company organized under
        the
        laws of the PRC (“IMJM Real Estate”), with a registered address at No 44,
        Tongdao Road, South, Hui Ming District, Hohhot City, Inner Mongolia, China
        010030, and the shareholders of IMJM Real Estate (“Pledgors”). The
        parties to this Agreement are referred to collectively in this Agreement
        as the
“Parties”.

       

      RECITALS

       A.           Speedhaul
        is a public reporting corporation incorporated under the laws of the State
        of
        New Jersey, the United States.

      B.           Gold
        Horse is a Nevada corporation and wholly-owned subsidiary of Speedhaul, pursuant
        to a share exchange agreement under which the shareholders of Gold Horse
        and
        their assignees acquired 97% of the issued and outstanding shares of Speedhaul
        (the “Transaction”).

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      C.           Global
        Rise is a wholly owned subsidiary of Gold Horse.

      D.           IMJM
        Real Estate is a company incorporated in Inner Mongolia, China, and is engaged
        in hotel operation and management business (the “Business”);

      E.           The
        Pledgors collectively own over 100% of the equity interests of IMJM Real
        Estate.

      F.           Gold
        Horse and Jin Ma Real Estate had previously executed a Consulting Services
        Agreement dated August 31, 2006 (hereinafter “Consulting Services
        Agreement” or “Services Agreement”), based on which Jin Ma Real
        Estate shall pay consulting and service fees (hereinafter the “Consulting
        Services Fees” or “Services Fees”) to Global Rise for offering
        consulting and related services.

      H.           In
        order to ensure that Jin Ma Real Estate would perform its obligations under
        the
        Consulting Services Agreement, and in order to provide an additional mechanism
        for Gold Horse to enforce its rights to collect the Consulting Services Fees
        from Jin Ma Real Estate, the Pledgors had executed a Pledge Agreement, dated
        August 31, 2006, under which the Pledgors had agreed to pledge all their
        equity
        interest in Jin Ma Real Estate as security for the performance of the
        obligations of Jin Ma Real Estate under the Consulting Services Agreement
        and
        the payment of Consulting Services Fees under such agreement.

      I.           In
        connection with the Transaction, the parties wish to amend and restate the
        August 31, 2006 Pledge Agreement, which shall be amended and restated in
        its
        entirety in the form of this Agreement.

      

      NOW
        THEREFORE, Speedhaul, Pledgee, Jin Ma Real Estate and the Pledgors
        through mutual negotiations hereby enter into this Agreement based upon the
        following terms:

       

      1.           Definitions
        and Interpretation.  Unless otherwise provided in this Agreement,
        the following terms shall have the following meanings:

      1.1           “Pledge”
        refers to the full content of Section 2 hereunder.

      1.2           “Equity
        Interest” refers to all the equity interest in Jin Ma Real Estate legally
        held by the Pledgors.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      1.3           “Term
        of Pledge” refers to the period provided for under Section 3.2
        hereunder.

      1.4           “Event
        of Default” refers to any event in accordance with Section 7.1
        hereunder.

      1.5           “Notice
        of Default” refers to the notice of default issued by Pledgee in accordance
        with this Agreement.

      

      2.           Pledge.  The
        Pledgors agree to pledge their equity interests in Jin Ma Real Estate to
        Pledgee
        (“Pledged Collateral”) as a security for the obligations of Jin Ma Real
        Estate under the Consulting Services Agreement.  Pledge under this
        Agreement refers to the rights owned by Pledgee, who shall be entitled to
        a
        priority in receiving payment by the evaluation or proceeds from the auction
        or
        sale of the equity interest pledged by the Pledgors to Pledgee.

      3.           Term
        of Pledge.

      3.1           The
        Pledge shall take effect as of the date when the Pledge of the equity interest
        under this Agreement is recorded in the Register of Shareholder of Jin Ma
        Real
        Estate.  The term of the Pledge shall last until two (2) years after
        the obligations under the Consulting Services Agreement are
        fulfilled.

      3.2           During
        the term of the Pledge, Pledgee shall be entitled to vote, control, sell,
        or
        dispose of the pledged assets in accordance with this Agreement in the event
        that Pledgors do not perform their obligation under the Consulting Services
        Agreement and Jin Ma Real Estate fails to pay the Consulting Service Fees
        in
        accordance with the Consulting Services Agreement.

      3.3           During
        the term of the Pledge, Pledgee shall be entitled to collect any and all
        dividends declared or paid in connection with the equity interest.

      

      
        	
                4.  

              	
                Pledge
                  Procedure and Registration

              

      

      4.1           The
        Pledge under this Agreement shall be recorded in the Register of Shareholders
        of
        Jin Ma Real Estate. The Pledgors shall, within 10 days after the date of
        this
        Agreement, initiate the registration procedures with Beijing Administration
        for
        Industry and Commerce concerning the Pledge.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      5.           Representation
        and Warranties of Pledgors.

      5.1           The
        Pledgors are the legal owners of the equity interest pledged.

      5.2           The
        Pledgors have not pledged the equity interest to any other party, and or
        the
        equity interest is not encumbered to any other person except for
        Pledgee.

      

      6.           Covenants
        of Pledgors.

      6.1           During
        the effective term of this Agreement, the Pledgors promise to Pledgee for
        its
        benefit that the Pledgors shall:

      6.1.1  Not
        transfer or assign the equity interest, create or permit to create any pledges
        which may have an adverse effect on the rights or benefits of Pledgee without
        prior written consent from Pledgee.

      6.1.2  Comply
        with and implement laws and regulations with respect to the pledge of rights;
        present to Pledgee the notices, orders or suggestions with respect to the
        Pledge
        issued or made by the competent authority within five (5) days upon receiving
        such notices, orders or suggestions; and comply with such notices, orders
        or
        suggestions; or object to the foregoing matters at the reasonable request
        of
        Pledgee or with consent from Pledgee.

      6.1.3  Timely
        notify Pledgee of any events or any received notices which may affect the
        Pledgor’s equity interest or any part of its right, and any events or any
        received notices which may change the Pledgor’s any warranty and obligation
        under this Agreement or affect the Pledgor’s performance of its obligations
        under this Agreement.

      6.2  The
        Pledgors agree that Pledgee’s right to the Pledge obtained from this Agreement
        shall not be suspended or inhibited by any legal procedure launched by the
        Pledgors or any successors of the Pledgors or any person authorized by the
        Pledgors or any such other person.

      6.3  The
        Pledgors promise to Pledgee that in order to protect or perfect the security
        for
        the payment of the Services Fees, the Pledgors shall execute in good faith
        and
        cause other parties who have interests in the Pledge to execute all the title
        certificates, contracts, and perform actions and cause other parties who
        have
        interests to take action, as required by Pledgee; and make access to exercise
        the rights and authorization vested in Pledgee under this
        Agreement.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      6.4  The
        Pledgors promise to Pledgee that they will execute all amendment documents
        (if
        applicable and necessary) in connection with any registration of the Pledge
        with
        Pledgee or its designated person (natural person or a legal entity), and
        provide
        the notice, order and decision to Pledgee as necessary, within a reasonable
        amount of time upon request.

      6.5  The
        Pledgors promise to Pledgee that they will comply with and perform all the
        guarantees, covenants, warranties, representations and conditions for the
        benefits of Pledgee. The Pledgors shall compensate all the losses suffered
        by
        Pledgee as a result of the Pledgors failing perform or fully perform their
        guarantees, covenants, warranties, representations and conditions.

       

      
        	
                7.  

              	
                Events
                  Of Default.

              

      

      
        	
                7.1  

              	
                The
                  following events shall be regarded as the events of
                  default:

              

      

      7.1.1  This
        Agreement is deemed illegal by a governing authority in the PRC, or the Pledgors
        are not capable of continuing to perform the obligations herein due to any
        reason except force majeure;

      7.1.2  Jin
        Ma
        Real Estate fails to make full payment of the Services Fees as scheduled
        under
        the Service Agreement;

      7.1.3  A
        Pledgor
        makes any materially false or misleading representations or warranties under
        Section 5 herein, and/or the Pledgor breaches any warranties under Section
        5
        herein;

      7.1.4  A
        Pledgor
        breaches the covenants under Section 6 herein;

      7.1.5    
A
        Pledgor
        breaches the term or condition herein;

      7.1.6  A
        Pledgor
        waives the pledged equity interest or transfers or assigns the pledged equity
        interest without prior written consent of Pledgee;

      7.1.7  Jin
        Ma
        Real Estate is incapable of repaying its general debt or other
        debt;

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      7.1.8  The
        property of a Pledgor is adversely affected causing Pledgee to believe that
        the
        capability of the Pledgor to perform the obligations herein is adversely
        affected;

      7.1.9  The
        successors or agents of the Jin Ma Real Estate are only able to perform a
        portion of or refuse to perform the payment obligations under the Service
        Agreement;

      7.1.10  The
        breach of the other terms by action or inaction under this agreement by a
        Pledgor.

      7.2  The
        Pledgor shall immediately give a written notice to Pledgee if the Pledgor
        is
        aware of or discovers that any event under Section 7.1 herein or any event
        that
        may result in the foregoing events has occurred or is likely to
        occur.

      7.3  Unless
        the event of default under Section 7.1 herein has been solved to Pledgee’s
        satisfaction, Pledgee, at any time when the event of default occurs or
        thereafter, may give a written notice of default to the Pledgor and require
        the
        Pledgor to immediately make full payment of the outstanding Service Fees
        under
        the Service Agreement and other payables or exercise other rights in accordance
        with Section 8 herein.

      

      
        	
                8.  

              	
                Exercise
                  of Remedies.

              

      

      8.1           Authorized
        Action by Secured Party. The Pledgors hereby irrevocably
        appoint Pledgee the attorney-in-fact of the Pledgors for the purpose of carrying
        out the security provisions of this Agreement and taking any action and
        executing any instrument that Pledgee may deem necessary or advisable to
        accomplish the purposes of this Agreement.  If an event of default
        occurs, or is continuing, Pledgee shall have the right to exercise the following
        rights and powers:

      (a)           Collect
        by legal proceedings or otherwise and endorse and/or receive all payments,
        proceeds and other sums and property now or hereafter payable on or on account
        of the Pledged Collateral;

      (b)           Enter
        into any extension, reorganization, deposit, merger, consolidation or other
        agreement pertaining to, or deposit, surrender, accept, hold or apply other
        property in exchange for the Pledged Collateral;

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (c)           Transfer
        the Pledged Collateral to its own or its nominee’s name;

      (d)           Make
        any compromise or settlement, and take any action it deems advisable, with
        respect to the Pledged Collateral;

      (e)           Notify
        any obligor with respect to any Pledged Collateral to make payment directly
        to
        Pledgee;

      (f)           All
        rights of the Pledgors to exercise the voting and other consensual rights
        it
        would otherwise be entitled to exercise without any action or the giving
        of any
        notice shall cease, and all such rights shall thereupon become vested in
        Pledgee;

      (g)           All
        rights of the Pledgors to receive distributions with respect to the Pledged
        Collateral which it would otherwise be authorized to receive and retain shall
        cease and all such rights shall thereupon become vested in Pledgee;
        and

      (h)           The
        Pledgors shall execute and deliver to Pledgee appropriate instruments as
        Pledgee
        may request in order to permit Pledgee to exercise the voting and other rights
        which it may be entitled to exercise and to receive all distributions which
        it
        may be entitled to receive.

      The
        Pledgors hereby grant to Pledgee an exclusive, irrevocable power of attorney,
        with full power and authority in the place and stead of the Pledgors to take
        all
        such action permitted under this Section 8.1.  Such power of
        attorney shall be effective, automatically and without the necessity of any
        action (including any transfer of any Pledged Collateral) by any person,
        upon
        the occurrence and continuance of an event of default.  Pledgee shall
        not have any duty to exercise any such right or to preserve the same and
        shall
        not be liable for any failure to do so or for any delay in doing
        so.

      8.2           Event
        of defaults; Remedies.  Upon the occurrence of an event of
        default, Pledgee may, without notice to or demand on the Pledgors and in
        addition to all rights and remedies available to Pledgee, at law, in equity
        or
        otherwise, do any of the following:

      (a)           Require
        the Pledgors to immediately pay all outstanding unpaid amounts due under
        the
        Consulting Services Agreement;

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (b)           Foreclose
        or otherwise enforce Pledgee’s security interest in any manner permitted by law
        or provided for in this Agreement;

      (c)           Terminate
        this Agreement pursuant to Section 11;

      (d)           Exercise
        any and all rights as beneficial and legal owner of the Pledged Collateral,
        including, without limitation, perfecting assignment of and exercising any
        and
        all voting, consensual and other rights and powers with respect to any Pledged
        Collateral; and

      (e)  Exercise
        any and all the rights and remedies of a secured party upon default under
        applicable law.

      8.3           Pledgee
        shall give a notice of default to the Pledgors when Pledgee exercises its
        remedies under this Agreement.

      8.4           Subject
        to Section 7.3, Pledgee may exercise its remedies under this Agreement at
        any
        time after Pledgee gives a notice of default in accordance with Section 7.3
        or
        thereafter.

      8.5           Pledgee
        is entitled to priority in receiving payment by the evaluation or proceeds
        from
        the auction or sale of whole or part of the equity interest pledged herein
        in
        accordance with legal procedure until the unpaid Services Fees under the
        Services Agreement are repaid.

      8.6           The
        Pledgor shall not hinder Pledgee from exercising its rights in accordance
        with
        this Agreement and shall give necessary assistance so that Pledgee may exercise
        its rights in full.

      

      9.           Assignment.

      9.1            The
        Pledgors shall not donate or transfer rights and obligations herein without
        prior consent from Pledgee.

      9.2           This
        Agreement shall be binding upon each of the Pledgors and his, her or its
        successors and be binding on Pledgee and his each successor and
        assignee.

      9.3           Pledgee
        may transfer or assign his all or any rights and obligations under the Service
        Agreement to any individual specified by it (natural person or legal entity)
        at
        any time. In this case, the assignee shall enjoy and undertake the same rights
        and obligations herein of Pledgee as if the assignee is a party hereto. When
        Pledgee transfers or assigns the rights and obligations under the Service
        Agreement, and such transfer shall only be subject to a written notice serviced
        to Pledgors, and at the request of Pledgee, the Pledgors shall execute the
        relevant agreements and/or documents with respect to such transfer or
        assignment.

      9.4           In
        the event of a change in control of Pledgee’s resulting in the transfer or
        assignment of this agreement, the successor parties to the pledge shall execute
        a new pledge contract.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                10.  

              	
                Formalities,
                  Fees and Other Charges.

              

      

      10.1           The
        Pledgors shall be responsible for all the fees and actual expenses in relation
        to this Agreement including but not limited to legal fees, cost of production,
        stamp tax and any other taxes and charges. If Pledgee pays the relevant taxes
        in
        accordance with applicable law, the Pledgors shall fully indemnify Pledgee
        such
        taxes paid by Pledgee.

      10.2           The
        Pledgors shall be responsible for all the fees (including but not limited
        to any
        taxes, formalities fees, management fees, litigation fees, attorney’s fees, and
        various insurance premiums in connection with disposition of Pledge) incurred
        by
        the Pledgors for the reason that the Pledgors fail to pay any payable taxes,
        fees or charges for other reasons which cause Pledgee to recourse by any
        means
        or ways.

      

      
        	
                11.  

              	
                Force
                  Majeure.

              

      

      11.1           “Force
        Majeure,” shall include but not be limited to acts of governments, acts of
        nature, fire, explosion, typhoon, flood, earthquake, tide, lightning, war,
        refers to any unforeseen events beyond the party’s reasonable control and cannot
        be prevented with reasonable care.  However, any shortage of credit,
        capital or finance shall not be regarded as an event beyond a Party’s reasonable
        control.  The affected party by Force Majeure shall notify the other
        party of such event resulting in exemption promptly.

      11.2           In
        the event that the affected party is delayed in or prevented from performing
        its
        obligations under this Agreement by Force Majeure, only within the scope
        of such
        delay or prevention, the affected party will not be responsible for any damage
        by reason of such a failure or delay of performance. The affected party shall
        take appropriate means to minimize or remove the effects of Force Majeure
        and
        attempt to resume performance of the obligations delayed or prevented by
        the
        event of Force Majeure.  After occurrence of an event of Force
        Majeure, when such event or condition ceases to exist, both parties agree
        to
        resume the performance of this Agreement with their best efforts.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      12.           Confidentiality.
        The parties of this agreement acknowledge and make sure that all the oral
        and
        written materials exchanged relating to this contract are confidential. All
        the
        parties have to keep them confidential and can not disclose them to any other
        third party without other parties’ prior written approval, unless: (a) the
        public know and will know the materials (not because of the disclosure by
        any
        contractual party); (b) the disclosed materials are required by laws or stock
        exchange rules; or (c) materials relating to this transaction are disclosed
        to
        parties’ legal consultants or financial advisors, however, who have to keep them
        confidential as well.  Disclosure of confidential information by
        Employees or hired institutions of the parties is deemed as the act by the
        parties, therefore, subjecting them to liability.

      13.           Dispute
        Resolution.

      13.1           This
        Agreement shall be governed by and construed in accordance with the PRC
        law.

      13.2           The
        parties shall strive to settle any dispute arising from the interpretation
        or
        performance, or in connection with this Agreement through friendly
        consultation.  In case no settlement can be reached through
        consultation, each party can submit such matter to China International Economic
        and Trade Arbitration Commission (“CIETAC”) for arbitration. The arbitration
        shall follow the current rules of CIETAC, and the arbitration proceedings
        shall
        be conducted in Chinese and shall take place in Beijing. Any resulting
        arbitration award shall be final and binding upon the parties.

      14.           Notices.  Any
        notice which is given by the parties hereto for the purpose of performing
        the
        rights and obligations hereunder shall be in writing. Where such notice is
        delivered personally, the time of notice is the time when such notice actually
        reaches the addressee; where such notice is transmitted by facsimile, the
        notice
        time is the time when such notice is transmitted. If such notice does not
        reach
        the addressee on business date or reaches the addressee after the business
        time,
        the next business day following such day is the date of notice. The delivery
        place is the address first written above of the parties hereto or the address
        advised in writing including via facsimile from time to time.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      15.  Entire
        Contract.  All Parties agree that this Agreement constitute the
        entire agreement of the Parties with respect to the subject matter therein
        upon
        its effectiveness and supersedes and replaces all prior oral and/or written
        agreements and understandings relating to this Agreement.

       

      16.  Severability.  Any
        provision of this Agreement which is invalid or unenforceable because of
        inconsistent with the relevant laws shall, as to that jurisdiction, be
        ineffective to the extent of such invalidity or unenforceability, without
        affecting in any way the remaining provisions hereof.

       

      17.  Appendices.  The
        appendices to this Agreement are entire and integral part of this
        Agreement.

       

      18.  Amendment
        or Supplement.

       

      18.1           Parties
        may amend and supply this Agreement with a written agreement, provided that
        such
        amendment shall be duly executed and signed by Pledgee, Jin Ma Real Estate,
        and
        holders of a majority of the shares of Jin Ma Real Estate held by the Pledgors,
        and such amendment shall thereupon become a part of this Agreement and shall
        have the same legal effect as this Agreement.

      18.2           This
        agreement and any amendments, modification, supplements, additions or changes
        hereto shall be in writing and come into effect upon being executed and sealed
        by the parties hereto.

      

      19.           Language
        and Copies of the Agreement.  This Agreement has both an English
        version and a Chinese version. Both versions are equally authentic. Where
        a
        comparison of the authentic texts of both versions of this Agreement discloses
        a
        difference in meaning, the meaning which best reconciles the texts, having
        regard to the object and purpose of this Agreement shall be adopted. This
        Agreement is executed by the Parties in counterparts, each Party holds one
        counterpart, and each original has the same legal effect.

       

      

      [SIGNATURE
        PAGE FOLLOWS]

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      SIGNATURE
        PAGE

      

      

      IN
        WITNESS WHEREOF each party hereto has caused this Agreement duly
        executed by itself or a duly authorized representative on its behalf as of
        the
        date first written above.

      

      PLEDGEE:                                             Global
        Rise International Limited

      

              By:           /s/
        Liankuan Yang_________________

      Liankuan
        Yang, Chief Executive
        Officer

      

      
        IMJM
          REAL ESTATE:            
          Inner
          Mongolia Jin Ma Real Estate Development Limited
          Company

      

              By:           /s/
        Liankuan Yang__________________

      Liankuan
        Yang, Chief Executive
        Officer

       

      SPEEDHAUL:                                       Speedhaul
        Holdings, Inc.

      

              By:           /s/
        Andrew Norins_________________

      Andrew
        Norins, Chief Executive
        Officer

       

      GOLD
        HORSE:                                    Gold
        Horse International, Inc.

      

              By:           /s/
        Liankuan Yang_________________

      Liankuan
        Yang, Chief Executive
        Officer

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      PLEDGOR
        SIGNATURE PAGE

      

      PLEDGORS:

      

      SHAREHOLDERS
        OF JIN MA REAL
        ESTATE:

       

      /s/
        Yang Liankuan_________________

      By:
        Yang
        Liankuan

      (PRC
        ID
        Card No.: 150103570713017)

      Shares
        of
        IMJM Real Estate owned by Yang Liankuan: 70%

       

      /s/
        Ma
        Runlan_____________________

      By:
        Ma
        Runlan

      (PRC
        ID
        Card No.: 150103600421102)

      Shares
        of
        IMJM Real Estate owned by Ma Runlan: 15%.

       

      /s/
        Yang Yang_____________________

      By:
        Yang
        Yang

      (PRC
        ID
        Card No.: 150103820724052)

      Shares
        of
        IMJM Real Estate owned by Yang Yang: 15%

      

      

      

      

      

      

      

      
        	
                 

              	
                 Appendix
                  1

              

      

      RESOLUTIONS
        OF THE GENERAL SHAREHOLDERS’

      MEETING
        OF INNER MONGOLIA JIN MA REAL ESTATE DEVELOPMENT COMPANY
        LIMITED

      WHEREAS,
        that certain significant shareholders of Inner Mongolia Jin Ma Real Estate
        Development Company Limited (“Company”) have agreed to pledge their shares of
        the company under an Amended and Restated Equity Pledge Agreement dated June
        29,
        2007; and

      

      WHEREAS,
        it is in the best interest of the Company for the shareholders to enter into
        such Equity Pledge Agreement.

      

      RESOLVED,
        that the pledge of shares held by the shareholders of the company under the
        Equity Pledge Agreement is hereby approved.

      

      This
        resolution was executed and submitted on June 29, 2007 by the undersigned
        shareholders:

       

      SHAREHOLDERS:

      

      /s/
        Yang Liankuan__________________

      By:
        Yang
        Liankuan

      (PRC
        ID
        Card No.: 150103570713017)

      Shares
        of
        IMJM Real Estate owned by Yang Liankuan: 70%

      

      /s/
        Ma
        Runlan______________________

      By:
        Ma
        Runlan

      (PRC
        ID
        Card No.: 150103600421102)

      Shares
        of
        IMJM Real Estate owned by Ma Runlan: 15%.

      

      /s/
        Yang Yang______________________

      By:
        Yang
        Yang

      (PRC
        ID
        Card No.: 150103820724052)

      Shares
        of
        IMJM Real Estate owned by Yang Yang: 15%

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