Document:

ex10-4.htm

 

Exhibit 10.4

Share Exchange Agreement

THIS SHARE EXCHANGE AGREEMENT (the “Agreement”) is made and entered into this 21st day of August 2013, by and between SC Capital, Inc., a corporation organized under the laws of the State of California and Globalgroup Investment Holdings, Inc., (hereinafter "GIHI"), a corporation organized under the laws of the State of Nevada.

WITNESSETH:

WHEREAS, GIHI agreed to a Merger Agreement on August 6, 2013 to acquire 100% of Embarr Downs of California, Inc.;

WHEREAS, August 6, 2013 the parties entered into a share exchange agreement;

WHEREAS, this Agreement shall modify the terms of that Agreement;

 

NOW THEREFORE, in consideration of the promises and of the mutual covenants herein contained and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

Paragraph 1:  SC Capital acquired 95,000 shares of Embarr Downs of California for $375 on February 23, 2012.

Paragraph 2: Embarr Downs of California has an outstanding share count of 1,000,000.

Paragraph 3:  SC Capital hereby agrees to surrender the 95,000 shares of Embarr Downs of California in exchange for 325,000,000 shares of Common Stock and 125,000 shares of Preferred Stock of GIHI.

Paragraph: The acquisition of Embarr Downs of California shall be completed in transactions.  As such, SC Capital shall be entitled to receive the following number of shares of GIHI in exchange for its shares of Embarr Downs:

325,000,000 shares of Common Stock

475,000 Series Preferred Shares

Paragraph 4:  The outstanding share count of GIHI will be 3,984,193,692 of Common Stock and 4,000,000 shares of Series Preferred Stock.

Paragraph 5:  GIHI agrees to pay for the legal opinion for these shares to become free trading under Rule 144.  GIHI understands and is aware that these shares will be immediately to become free trading under Rule 144.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed the day and year first above written.

 

 

Globalgroup Investment Holdings, Inc.,

 

By: Joseph Wade          

Its: President/CEO

 

 

 

SC Capital

 

By: Valerie Baugher       

Its: President/CEOex10-5.htm

 

Exhibit 10.5

BILL OF SALE AND AGREEMENT

 

THIS BILL OF SALE AND AGREEMENT (“Agreement”) is made and entered into as of the 31th day of August 2013 by and between Joseph Wade, Inc.  (“Seller”), and Embarr Downs, (“Buyer”);

 

W I T N E S S E T H:

 

WHEREAS, the parties hereto have reached an agreement concerning the purchase and sale of that certain thoroughbred Gelding named Rock Off (2008) by Rock Hard Ten out of Prison of Love “HORSE”;

 

NOW, THEREFORE, in consideration of the mutual covenants of the parties hereto, it is hereby agreed as follows:

 

1. PURCHASE AND SALE. Seller agrees to sell, transfer, assign and convey full ownership of the HORSE, which sale and purchase Buyer hereby accepts, all under the terms and conditions hereinafter specified.

 

2. PURCHASE PRICE. The purchase price for the HORSE is Fifty-Five Thousand U.S. Dollars (U.S. $55,000.00).

 

3. VETERINARY AND OTHER EXAMINATIONS. Buyer covenants with Seller that it has had the HORSE examined by a veterinarian(s) of its choosing and has initiated such other tests as Buyer deems appropriate to determine whether the HORSE is acceptable to Buyer, and that Buyer has had ample time to arrange for such tests. Seller shall have no responsibility whatsoever concerning the sufficiency and/or accuracy of said test results.

 

4. RISK OF LOSS, RIGHT TO POSSESSION, AND TITLE. Prior to delivery, and prior to payment in full of the purchase price in a timely manner, title to and right to possession of the HORSE shall remain with Seller. Buyer agrees that contemporaneously with receipt by Seller of the purchase price, it shall arrange to take possession of the HORSE at the HORSE’s current location. At such time as possession of the HORSE is delivered as contemplated above, all risk of loss shall pass from Seller to Buyer.

 

5. DISCLAIMER OF WARRANTIES. As previously specified in this Agreement, Seller has made the HORSE available for such inspections as Buyer deems appropriate and Buyer understands and agrees that SELLER MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND 2SPECIFICALLY, WITHOUT LIMITATION, SELLER MAKES NO WARRANTIES THAT THE HORSE IS SUITABLE FOR RACING OR BREEDING PURPOSES, INCLUDING NO WARRANTY THAT THE HORSE IS FERTILE. It is further understood that BUYER assumes any and all risks related to frustration of import.

 

6. TITLE WARRANTY. Seller warrants the Buyer will receive clear ownership and title to the HORSE free and clear of any and all claims made by or through Seller.

 

7. TIME IS OF THE ESSENCE. Time is of the essence in the performance of each and all of the conditions set forth in this Agreement.

 

8. FACSIMILE. The parties hereto agree that a facsimile of a counterpart of this signed Agreement constitutes an original counterpart and shall be a valid and binding document

 

for all legal and other purposes.

 

9. COUNTERPARTS. This Agreement may be executed in multiple counterparts by the parties hereto. All of such counterparts shall be construed as if all signatures were appended to one document.

 

10. MERGER. This Agreement contains the entire agreement of the parties and any prior or concurrent written or oral understandings are deemed merged into this Agreement.

 

11. BINDING EFFECT. This Agreement shall be binding upon the parties hereto, their heirs, personal representatives, successors and assigns.

 

12. GOVERNING LAW. The terms of this Agreement and disputes developing hereunder shall be enforced and construed in accordance with the laws of the State of California, to which jurisdiction the parties exclusively submit waiving any rights to dispute resolution in any other jurisdiction.

 

IN WITNESS WHEREOF, the parties hereto have set their hands as of the day and year first above written.

 

Joseph Wade                                                                                                            Embarr Downs, Inc.

 

By: Joseph Wade                                                                                                    By: Joseph Wade 

                            Its: President/CEOex10-6.htm

 

Exhibit 10.6

 

Promissory Note

 

	$7,000.00 	August 20, 2013

 

 

FOR VALUE RECEIVED, Embarr Downs, an Nevada corporation ("Borrower") hereby promises to pay to Joseph Wade ("Lender"), in same day funds at its principal offices, or at such other place Lender may from time to time designate, the principal sum of Seven Thousand ($7,000), together with interest thereon from the date hereof until paid in full, all without relief from valuation or appraisement laws. Interest shall be charged on the unpaid outstanding balance of this Note at a rate per annum equal to zero percent (0%). The principal hereof shall be due and payable hereunder December 31, 2014. Any payments on account of the indebtedness evidenced by this Note shall be applied first to accrued and unpaid interest on the unpaid principal balance and the remainder to principal.

And to secure the payment of said amount, the undersigned hereby authorizes, irrevocably, any attorney of any Court of Record to appear for the undersigned in such Court, in term time or vacation, at any time after maturity, and confess a judgment, without process, in favor of the holder of this Note, for such amount as may appear to be unpaid thereon, together with reasonable costs of collection, including reasonable attorney’s fees and to waive and release all errors which may intervene in any such proceedings, and consent to immediate execution upon such judgment, hereby ratifying and confirming all that said attorney may do by virtue hereof.

At the option of the legal holder hereof and without notice, the principal sum remaining unpaid hereon, together with accrued interest thereon, shall become at once due and payable at the place of payment aforesaid in case default shall occur in the payment, when due, of any installment of principal or interest in accordance with the terms hereof.

This Note inures to the benefit of Lender and binds Borrower and Lender's and Borrower's respective successors and assigns, and the terms "Lender" and Borrower" whenever occurring herein shall be deemed and construed to include such respective successors and assigns.

This Note shall be construed according to, and governed by, the laws of the State of California.

 

IN WITNESS WHEREOF, the Borrower has caused this Note to be executed as of the date and the year first hereinabove written.

 

 

 

EMBARR DOWNS, INC.

 

By: Joseph Wade 

 

Its: President/CEOex10-7.htm

 

Exhibit 10.7

TERM SHEET

BETWEEN EMABRR DOWNS AND SC CAPITAL

October 27, 2013

 

This Term Sheet summarizes the principal terms of the Line of Credit Financing Between Embarr Downs (the “Company”) and SC Capital (the “Investor”).  No legally binding obligations will be created until definitive agreements are executed and delivered by all parties.  This Term Sheet is not a commitment to invest, and is conditioned on the completion of due diligence, legal review and documentation that is satisfactory to the Investors.  This Term Sheet shall be governed in all respects by the laws of  California.

	
Offering Terms

	  
	 	 
	
Closing Date:

	
As soon as practicable following the Investor and Company’s acceptance of this Term Sheet and satisfaction of the Conditions to Closing (the “Closing”).  However, no later than December 31, 2013.

	 	 
	
Line of Credit Size:

	
Up to $200,000

	 	 
	
Interest Rate:

	
Nine Percent (9%) per annum.

	 	 
	
Maturity Date:

	
August 31, 2015

	 	 
	
Loan Repayment:

	
The Loan shall bear a maturity on august 31, 2015. Until such date, the loan will be subject to interest only payments with payments being made on the 15th of each month for the preceeding month;s interest payments.

	 	 
	
Use of Proceeds;

	
To acquire thoroughbreds and the associated costs to maintaining the thoroughbreds

	 	 
	
Collateral:

	
Investor shall be entitled to file a UCC secured position against any and all of the Company’s thoroughbred as security for this Line of Credit

	 	 
	
Guarantees:

	
This Line of Credit shall be personally guaranteed by the Company’s CEO, Joseph Wade.

	 	 
	
Expiration:

	
This Term Sheet expires on October 31, 2013 if not accepted by the Company by that date.

 

EXECUTED this 27th day of October, 2013.

 

	
Company:

	
/s/ Joseph Wade                             

Its: President/CEO

	
Investor:

	
/s/ Valerie Baugher                                  

Its: President

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