Document:

EXHIBIT
10.31a

 

SALE
OF LLC INTEREST AGREEMENT

 

THIS
AMENDMENT NO. 1, DATED MARCH 16, 2016 (this “Agreement”), TO SALE OF LIMITED LIABIITY COMPANY INTEREST AGREEMENT,
dated as of March 8, 2016 (the “Effective Date”), is made and entered into by and between Progreen Properties,
Inc. (PROGREEN), a Delaware corporation (“Buyer”) and American Residential Fastigheter AB (AMREFA), a company
formed under the laws of Sweden (“Seller”), in connection with Seller’s sale of all of its interest in
American Residental Gap LLC (ARG), a Michigan limited liability company (the “Company”) to Buyer.

 

	 	A.	Seller
    is the beneficial and record owner of 100% of the membership interests in the Company; and 
	 	 	 
	 	B.	Seller
    desires to sell to Buyer and Buyer desires to purchase from Seller all of Seller’s membership interest in the Company,
    which constitute 100% of the ownership of the Company (the “Seller’s Interest”) on the terms and
    conditions set forth in this Agreement. 

 

Therefore,
Buyer and Seller agree as follows:

 

ARTICLE
I 

SALE
AND PURCHASE 

 

1.1
Sale and Purchase of Seller’s Interest. On the Effective Date, Seller shall sell, assign, and transfer to
Buyer all of the Seller’s Interest in the Company, and Buyer shall purchase, acquire, and accept the Seller’s Interest
from Seller, all upon the terms and conditions set forth in this Agreement.

 

1.2
Purchase Price. The purchase price for the Seller’s Interest shall be One Million Two Hundred Eighty-Five
Thousand ($1,285,000) Dollars (the net asset value of the Company as determined by the parties to this Agreement, the “Purchase
Price”), which shall be paid by the issuance to Seller of Eight Million Ninety-Three Thousand, Five Hundred Forty-One
(8,093,541) shares of Series B Convertible Preferred Stock of the Buyer, the terms of which are set forth in Exhibit A to this
Agreement (the “Shares”), the number of Shares being subject to adjustment so as to equal the number of outstanding
common shares of Seller on the Effective Date, and the aggregate stated or liquidation value of the Shares to equal the Purchase
Price.

 

     

     

    

 

 

ARTICLE
II 

REPRESENTATIONS,
WARRANTIES AND COVENANTS OF SELLER 

 

Seller
hereby represents and warrants to Buyer, and covenants with Buyer, as follows:

 

2.1
Authority and Capacity. Seller is a corporation duly organized, validly existing, and in good standing under the
laws of Sweden and has all requisite power, authority from its shareholders and capacity to enter into this Agreement and to perform
its obligations hereunder and to consummate the transactions contemplated hereby.

 

2.2
Binding Agreement. This Agreement has been duly and validly executed and delivered by Seller and constitutes Seller’s
valid and binding agreement, enforceable against Seller in accordance with and subject to its terms.

 

2.3
Title to Seller’s Interest. Seller is the lawful record and beneficial owner of all of Seller’s ownership
Interest in the Company, free and clear of any liens, claims, agreements, charges, security interests and encumbrances whatsoever.
Seller shall sign such documents and provide such certificates as may be required to evidence the sale of Seller’s Interest
in the Company.

 

    	 	2	 

     

    

 

ARTICLE
III 

REPRESENTATIONS
AND WARRANTIES OF BUYER 

 

Buyer
hereby represents and warrants to Seller as follows:

 

3.1
Authority and Capacity of Buyer; No Default of Company. Buyer has all requisite power, authority and legal capacity
to enter into this Agreement and to perform its obligations hereunder and to consummate the transactions contemplated hereby.

 

3.2
Binding Agreement. This Agreement has been duly and validly executed and delivered by Buyer and constitutes Buyer’s
valid and binding agreement, enforceable against Buyer in accordance with and subject to its terms.

 

    	 	3	 

     

    

 

ARTICLE
IV 

COVENANTS
OF BUYER; POST-CLOSING MATTERS 

 

4.1Closing.
The closing of the purchase and sale of the Share Interests shall take place at date and time as may be mutually agreed to by
Buyer and Sellers following approval by the shareholders of Seller of the sale of the Company to Buyer.

 

4.2Closing
Deliveries. At the closing, the Seller shall deliver to Buyer (a) such deeds, and bills of sale and assignments that are
necessary to effect the sale, transfer and delivery to Buyer of all shares and/or other ownership interests in and to the Company,
and Buyer shall deliver certificates or other evidences of ownership of 8,093,541 shares of Series B Preferred Stock registered
in the name of Seller, and (b) 441,084 shares or other evidences of ownership of Series B Preferred Stock registered in the name
of Seller in payment and satisfaction of $70,000 of outstanding debt and accrued interest on AMREFA debt owed by Buyer to Seller.
The Buyer shall also deliver a fully executed non-interest bearing Mortgage Note to the Seller, for the amount of $200,000 secured
by a mortgage on the property owned by ARG known as Kinsel. The existing 8% Note of Buyer payable to Seller shall be paid in full
and cancelled as of the Effective Date, in consideration of Buyer’s deliveries of said $200,000 Mortgage Note together with
the 441,084 shares of Series B Preferred Stock.

 

4.3
Publicity Concerning Transaction. Buyer shall make such filings with the Securities and Exchange Commission
as may be required in connection with this transaction. The parties shall reasonably cooperate with each other in making announcements
and issuing publicity concerning the transaction.

 

4.4
Amendment to Operating Agreement. Immediately following the Effective Date, Buyer shall cause the Company to
amend its Operating Agreement to reflect Buyer as the owner of 100% of the ownership interests in the Company.

 

    	 	4	 

     

    

 

ARTICLE
V 

MISCELLANEOUS

 

5.1
Entire Agreement. This Agreement constitutes the entire understanding and agreement of the parties relating to the
subject matter hereof.

 

5.2
Governing Law. This Agreement shall be interpreted and enforced in accordance with, and shall be governed by, the
laws of the State of Michigan without reference to applicable choice or conflicts of laws principles.

 

5.3
Further Assurances. Each of the parties hereto shall from time to time at the request of the other party hereto,
and without further consideration, execute and deliver to such other party such further instruments of transfer and conveyance
and take such other action as the other party may reasonably request in order to more effectively fulfill the purposes of this
Agreement.

 

    	 	5	 

     

    

 

Executed
as of the date first above written.

 

	 	Buyer:
	 	 
	 	Progreen
    Properties, Inc., a Delaware corporation
	 	 	 
	 	By:	/s/
Jan Telander

	 	 	Jan
Telander
	 	Its:	President
    and Chief Executive Officer
	 	 	 
	 	Seller:
	 	 
	 	American
    Residential Fastigheter AB, a corporation formed under the laws of Sweden
	 	 
	 	By:	/s/
Michael Lindstrom

	 	 	Michael
    Lindstrom
	 	Its:	President

 

    	 	6	 

     

    

 

EXHIBIT
A

 

Series
B Preferred Stock of Progreen Properties, Inc. (“Progreen”)

Summary
of Terms (March 8, 2016)

 

	The
    Company:	Progreen
    Properties, Inc., a Delaware corporation (the “Company”).
	 	 
	The
    Securities:	Series
    B Convertible Preferred Stock (“Series B Preferred Stock”); Stated Value: $0.1587 per share (the “Stated
    Value”).
	 	 
	Dividends:	Each
    holder of record on September 8, 2016 and March 8, 2017 of the Series B Preferred Stock shall be entitled to receive a cash
    dividend at the annual rate of 7% of the Stated Value of the shares of Series B Preferred Stock held by such holder. Additionally,
    holders of Series B Preferred Stock shall be entitled to receive dividends, when and as declared by the Board of Directors
    out of funds legally available therefor. For any other dividends or distributions, the Series B Preferred Stock will participate
    with the Corporation’s Common Stock on an as-converted basis.
	 	 
	Liquidation
    Preference:	In
    the event of any liquidation of Progreen, or merger or sale in which the shareholders of Progreen do not own a majority of
    the outstanding shares of the surviving corporation, the holders of Series B Preferred Stock will be entitled to receive in
    preference to the holders of Progreen Common Stock an amount per share equal to their Stated Value plus all accrued but unpaid
    dividends (“Liquidation Preference”). 
	 	 
	Conversion
    and Redemption Rights:	The
    shares of Series B Preferred Stock shall be convertible into shares of Progreen common stock, par value $.0001 per share (“Progreen
    Common Stock”) at a conversion price per share of the Progreen Common Stock equal to the weighted average closing prices
    of the Progreen Common Stock for the 20 trading days immediately prior to the one-year anniversary of the Effective Date (the
    “Conversion Price”) on which date the Series B Preferred Stock shall first become convertible. Further terms of
    the Series B Preferred Stock shall be as follows:

 

	 	●	The Series B Preferred Stock shall have full voting
rights in accordance with the underlying conversion shares of PROGREEN Common Stock and full rights to all dividends and distributions
with respect to such shares of Series B Preferred Stock as declared by the Progreen Board of Directors;
	 	 	 
	 	●	The Conversion Price shall be proportionately adjusted
to reflect all stock splits or combinations of shares generally applicable to the Progreen Common Stock;
	 	 	 
	 	●	The Series B Preferred Stock shall provide for option
of the holder or holders of the Series B Preferred Stock to notify Progreen within the period commencing February 1, 2017 and
ending February 15, 2017, of their election to redeem their shares of Series B Preferred Stock at the Stated Value thereof, Progreen
to effect payment for shares as to which the redemption is requested by the holder or holders thereof on or prior to August 31,
2017; and 
	 	 	 
	 	●	On and after September 1, 2017, the shares of Series
B Preferred Stock shall automatically convert into Progreen Common Stock if the market price for the Progreen Common Stock is
150% of the Conversion Price for a period of 20 trading days. 

 

    	 	7	 

     

    

 

	Other
    provisions:	 
	 	 
	Anti-dilution:	The
    conversion price of the Series B Preferred Stock will be adjusted on a “broad-based weighted-average” basis,
    in the event that the Progreen issues additional shares of Common Stock or Common equivalents (other than for stock option
    grants and other customary exclusions) at a purchase price less than the applicable Series B Preferred Stock conversion price.
    Proportional anti-dilution protection for stock splits, stock dividends, combinations, recapitalizations, etc.
	 	 
	Voting
    Rights:	For
    so long as shares of Series B Preferred Stock remain outstanding, the prior vote or written consent of a majority of
    the Series B Preferred Stock will be required for any action that , (a) alter or change adversely the powers, preferences
    or rights given to the Series B Preferred Stock, (b) alter or amend the Certificate of Designation, (c) amend its certificate
    of incorporation, bylaws or other charter documents so as to affect adversely any rights of any Holders of the Series B Preferred
    Stock, (d) increase the authorized or designated number of shares of Series B Preferred Stock, (e) issue any additional shares
    of Series B Preferred Stock (including the reissuance of any shares of Series B Preferred Stock converted for Common Stock),
    (f) issue any Senior Securities, or (g) enter into any agreement with respect to the foregoing.

 

 

8Exhibit 10.32

 

JOINT
VENTURE CONTRACT CELEBRATING ON ONE PART "INMOBILIARIA CONTEL" VARIABLE CAPITAL LIMITED LIABILITY COMPANY,
REPRESENTED IN THIS ACT BY JAN GUNNAR GUNNARSSON TELANDER AND FLAVIO FRANCISCO CONTRERAS ESPINOZA, HEREINAFTER BE REFERRED
TO AS "THE MANAGING PARTNER" AND ON THE OTHER HAND, PROGREEN PROPERTIES, INC, A DELAWARE CORPORATION,
REPRESENTED BY JAN GUNNAR GUNNARSSON TELANDER, HEREINAFTER BE REFERRED AS "THE ASSOCIATED" BOTH PARTIES
WITH LEGALLY BOUND AND CAPACITY TO CONTRACT IN THIS ACT, SUBJECT TO THE FOLLOWING STATEMENTS AND CLAUSES

 

STATEMENTS

 

I. - Declares THE MANAGING PARTNER, through
its representative:

 

a)That it is a legal entity,
incorporated in accordance to the Mexican legislation under the designation of "INMOBILIARIA CONTEL", S.R.L. DE C.V.
by policy record 1169 dated February 11, 2016, granted before Atty. SIRAK EMMANUEL PEREZ SOLTERO, Public Broker Number 9 located
in Baja California.

 

b)That his client is the owner
of the parcel 127 Z-1 P1/1 Ejido Reforma Agraria Integral of the municipality of Ensenada, Baja California, with a surface of 131-81-49.67
HA (One hundred thirty-one hectares eighty-one areas, forty-nine point sixty seven centiares), with the following measurements
and boundaries:

 

NORTH broken line, 1234.63 meters
with the Transpeninsular Highway Tijuana-La Paz; 

NORTHWEST 976.18 meters with the parcel 135;

SOUTHEAST 1197.33 meters with
the parcel 135; and

WEST 1255.28
with the parcel 101.

 

c)That his Legal Representative
Mr. JAN GUNNAR GUNNARSSON TELANDER and FLAVIO FRANCSICO CONTRERAS ESPINOZA have the sufficient powers to compel his client under
the terms of this present contract, previous powers were granted to him in the articles of incorporation that relates to the Statement
I, section a) and at the date they have not been modified or revoked in some way.

 

    1

     

    

 

II.
- Declares THE ASSOCIATE, through its representative:

 

a)That is a legal entity, incorporated
in accordance to the legislation of the United States of America under the designation of PROGREEN PROPERTIES, INC, A DELAWARE
CORPORATION.

 

b)That his Legal Representative,
Mr. JAN GUNNAR GUNNARSSON TELANDER, has the sufficient powers to compel his client in the terms of this present contract.

 

c)Manifests
that it wishes to enter into this contract.

 

III. - Declares
"THE MANAGING PARTNER" and "THE ASSOCIATE" together:

 

a)The
MANAGING PARTNER and THE ASSOCIATED agree to join their resources, services and contribute to this joint venture the rights they
are entitled to each one and were allied in these present statements and in the obligations that are agreed on the Clauses of this
present Contract with the purpose that the property described in the Statement I) section b) to be conditioned by the end of planting
and in due course sold to a third party.

 

b)It
was previously explained to them that the Joint Venture Contract does not create an entity with legal personality and therefore
relations with third parties are between the MANAGING PARTNER and third parties, in accordance with Articles 253 and 256 of the
General Law of Commercial Companies.

 

    2

     

    

 

Stated
the above, the MANAGING PARTNER and the ASSOCIATED grant the following:

 

CLAUSES:

 

FIRST.-
OBJECT.- The MANAGING PARTNER and THE ASSOCIATE, in which "INMOBILIARIO CONTEL", S.R.L. DE CV, will be the
"MANAGING PARTNER" and PROGREEN PROPERTIES, INC, A DELAWARE CORPORATION, will be "THE PARTNER", have agreed
to combine their resources, services, experience and efforts to form a Joint Venture on agreed terms in this contract, in object
that the property described in the Statement I) section b) is conditioned for seeding purposes and in due course sold to a third
party.

 

SECOND.- CONTRIBUTIONS
OF "THE MANAGING PARTNER".- The MANAGING PARTNER for the proper fulfillment of the purpose of this contract
is committed to the following:

 

a)He
shall handle all practical details to the effect that the property described in the Statement
I) section b) is prepared for cultivation or fatusing.

 

b)Shall
regulate the water system, including obtaining the necessary permits for the exploitation of water well, the
installation of pumping systems including pipes, to take water from the well.

 

c)Shall
build a water tank and pipes for the access to irrigation of land for farming purposes.

 

d)Shall
be responsible for the administration of property described in Statement I) section b), being under their responsibility the daily
management of the business, promotion, and other activities related to the successful guidance of business.

 

d) Once it has been adequate in it's entirely
the property described in Statement I) section b) and thereby can carry out agriculture, he must find a buyer of land at a price
that guarantees the return on investment of this business.

 

THIRD.- CONTRIBUTIONS
OF "THE ASSOCIATE".- "THE ASSOCIATE" for the proper fulfillment of the purpose of this contract is
committed to the following:

 

a) .- Contribute up to the amount of $ 350,000.00 Dollars (Three Hundred Fifty
Thousand Dollars 00/100) of the United States of America, which will be delivered in bias, against the receipt.

 

    3

     

    

 

FOURTH.- PROFIT SHARING.- "THE
MANAGING PARTNER" grants and "THE ASSOCIATE" accepts a share of the profits or losses, resulting from the realization
of the object that is mentioned in the first clause of this contract.

 

FIFTH.- DETERMINATION AND DISTRIBUTION OF
PROFITS.- The parties will participate in the profits and losses as follows:

 

		a)	The MANAGING PARTNER with 50% (fifty percent) only of profits.
	 	 	 
		b)	The ASSOCIATE contribution will refund in money that he has made and shall be entitled also 50% (fifty percent) resulting in
profits.

 

It shall be understood that utility means the economic benefit from
the revenue generated, less the expenses incurred in generating of the referred revenue, including without limitation expenses
of storage, cost of merchandise, transportation and taxes.

 

The profits generated will be distributed following the agreement
of both ASSOCIATED and MANAGING PARTNER.

 

SIXTH.- MANAGING PARTNER RIGHTS.-
Both parties agree that the MANAGING PARTNER shall have the following rights:

 

		a)	Participate in the profits obtained according to the percentages established in the THIRD clause of this present contract;

 

		b)	Exercise the control and supervision over the adaptation of the land for and, in general, the activities of the managing partner
in the performance of their duties.

 

		c)	Execute the supervision that he considers necessary for the proper functioning of the business.

 

		d)	To realize the economic budget.

 

		e)	Purchase of materials resources and services through whom he chooses.

 

    4

     

    

 

SEVENTH.- ASSOCIATED RIGHTS:  It's
understood by both parties that the ASSOCIATE will have the following rights:

 

		a)	Participate
in the profits obtained according to the percentages established in the third clause of this contract;
	 	 	 
		b)	To be consulted at the time of completion of the sale of the property described
in Statement I) section b) once it has been for the purpose of planting
	 	 	 
		c)	To recover the money contribution that he had made.

 

EIGHTH
ADMINISTRATION.- The administration of this present joint venture will be in charge of the "THE MANAGING PARTNER"
and will be responsible for performing the administrative steps necessary to achieve the purpose of this present business.

 

Both sides agree that "THE
MANAGING PARTNER" will be directly responsible for any irregularities, theft, fraud, or any similar, in his tenure as administrator.

 

NINTH.- RELATION WITH THIRD
PARTIES.- The parties agree that the MANAGING PARTNER cannot contract on behalf and own representation or of the Association.

 

The MANAGING PARTNER and ASSOCIATE
agree that regardless of the provisions of the General Law of Commercial Companies, the relationship with third parties will be
solely and exclusively through the MANAGING PARTNER, who held the contracts, agreements and other necessary operations in order
to achieve the negotiated partnership.

 

TENTH.- PROHIBITION
TO RETAIN THE PAYMENT.- It is understood that neither party may withhold payment of the amounts that due to motive of
the participation in this present contract entitle under any circumstance, under either in court or out of court
proceedings title, but are obliged to pay it entirely.

 

ELEVENTH.- FISCAL RESPONSIBILITY:
The MANAGING PARTNER under the Joint Venture in this event held, will be solely responsible for paying taxes of the profits they
perceive on the occasion of this Joint Venture, under the terms of the applicable tax laws.

 

    5

     

    

 

TWELFTH.-
PROHIBITION OF TRANSFER RIGHTS AND OBLIGATIONS OF THE CONTRACT.- The parties agree that this instrument is prohibited
transfer, assign, transfer, lease or limit in any way the rights and obligations of the parties contained in this instrument,
unless otherwise agreed in writing by both parties.

 

THIRTEEN.- PROHIBITION OF
TRANSFER RIGHTS AND OBLIGATIONS OF THE CONTRACT The parties agree that this instrument is prohibited transfer, assign,
transfer, lease or limit in any way the rights and obligations of the parties contained in this instrument, unless otherwise agreed
in writing by both parties.

 

FOURTEENTH.- NO ADMISSION
OF ASSOCIATES.- New partners will not be accepted without the express consent of the other partner. The income or separation
of the members must be in writing.

 

FIFTEENTH.-
PROFESIONAL SECRET.- Both parties are obligated to maintain confidentiality about the present business and undertake
not to develop any other same or similar business or partner with a third party to develop a similar, responsible the party in
breach of the damages to be caused to the other party or third parties to the referred act.

 

SIXTEENTH.- WARRANTY:
The MANAGING PARTNER will ensure the proper management of the resources contributed by THE ASSOCIATE, so the signing of this present
contract, will sign a recognition of debt secured by a mortgage in the amount of $ 300,000.00 Dollars (THREE HUNDRED THOUSAND DOLLARS
00/100 UNITED STATES OF AMERICA), this amount will be released once it has been fulfilled the purpose of this contract.

 

SEVENTEEN.- VALIDITY.-
This contract will be valid indefinitely, so either party may indicate to the other of its desire to terminate it. This contract
will terminate once the property described in Statement I) section b) is sold.

 

    6

     

    

 

EIGHTEENTH.-
DISSOLUTION OF THE ASSOCIATION.- It will be causes for dissolution of the present contract as follows:

 

A).-For the termination or removal of any of the
partners.

 

B).-Due to the impossibility of continuing to make
the main object of the association.

 

C).-By agreement of the members
taken in accordance with this present instrument and the law.

 

NINETEEN.- ANTICIPATED TERMINATION:
 This Contract shall terminate in advance, in the following cases:

 

1.-Taken by
agreement between the MANAGING PARTNER and the PARTNER.

 

2.-The inability
to continue to make the object of the Joint Venture.

 

3.-For
the loss, revocation and/or cancellation of contracts that he holds the MANAGING PARTNER.

 

4.-By
MANAGING PARTNER decides at any time not provide contracts to the Association matter of this Contract.

 

TWENTY.- REACH OF TITLES OF
CLAUSES.- The parties state that the provisions of this contract expresses all agreed by the parties and that the titles
of each clause only were established to facilitate the reading of the contract, so it must be expressly agreed by the parties to
the respective clauses.

 

TWENTY.- MODIFICATION TO THE
CONTRACT.- Any modifications which the parties wish to make to the contents of this Contract, shall be effected by contract
made in writing and signed by both parties.

 

TWENTY SECOND.- ELECTED
DOMICILIE.- The parties point as domiciles for all types of documents, reports, payments, notices and other communications
those mentioned in the chapter on statements of this instrument.

 

    7

     

    

 

TWENTY-THREE.- JURISDICTION.-
For the interpretation, compliance and execution of this contract, the parties expressly agree to submit to the jurisdiction
of the Courts in Ensenada, Baja California, with express waiver of any other jurisdiction that may correspond by reason of their
present or future domicile or for any other reason that may be applicable.

 

TWENTY FOURTH .- APPLICABLE
LAW.- For the interpretation, implementation and execution of this contract, the parties submit to the laws of the United
Mexican States, renouncing any other applicable laws on grounds of nationality.

 

TWENTY FIVE.- LENGUAGE
OF THE CONTRACT.-  The present instrument is translated to English, the same is considerate original as the Spanish
contract.

 

Read that this was the
Joint Venture Contract by the parties and aware of its scope, responsibilities and legal purposes and stating that there is no
fraud, violence or bad faith, ratify and sign of conformity in the city of Ensenada, Baja California on the 12th of February 2016.

 

	“THE MANAGING PARTNER”	 	“THE ASSOCIATED”
	 	 	 
	 	 	 
		 	 

 

8

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