Document:

Exhibit
10.62

 

THE
EXCHANGE CONTEMPLATED HEREIN IS INTENDED TO COMPORT WITH THE REQUIREMENTS OF SECTION 3(a)(9) OF THE SECURITIES ACT OF 1933, AS AMENDED.

 

EXCHANGE
AGREEMENT

 

This
Exchange Agreement (this “Agreement”) is entered into as of March __, 2022 (the “Effective Date”)
by and between [_______], an individual (“Investor”), and HUMBL, Inc., a Delaware corporation (“Company”).

 

A.
Company issued to Investor that certain Convertible Promissory Note in the original principal amount of $[______] on [________] (the
“Note”).

 

B.
Company and Investor desire to exchange (such exchange is referred to as the “Note Exchange”) the Note for [________]
shares of Company’s common stock (the “Exchange Shares”) according to the terms and conditions of this Agreement.

 

C.
The Note Exchange will consist of Investor surrendering the Note in exchange for the Exchange Shares.

 

D.
Other than the surrender of the Note, no consideration of any kind whatsoever will be given by Investor to Company in connection with
this Agreement.

 

E.
Investor and Company now desire to exchange the Note for the Exchange Shares on the terms and conditions set forth herein.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.
Recitals and Definitions. Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Agreement
are true and accurate, are contractual in nature, and are hereby incorporated into and made a part of this Agreement.

 

2.
Issuance of Shares. The Note Exchange will occur with Investor surrendering the Note to Company on the Effective Date and Company
issuing the Exchange Shares to Investor.

 

3.
Section 3(a)(9). The transaction contemplated hereby and all other documents associated with this transaction comport with the
requirements of Section 3(a)(9) of the Securities Act of 1933, as amended. The Exchange Shares are being issued in substitution of and
exchange for and not in satisfaction of the Note. The Exchange Shares shall not constitute a novation or satisfaction and accord of the
Note.

 

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4.
Company’s Representations, Warranties and Agreements. In order to induce Investor to enter into this Agreement, Company,
for itself, and for its affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: (a) Company
has full power and authority to enter into this Agreement and to incur and perform all obligations and covenants contained herein, all
of which have been duly authorized by all proper and necessary action, (b) no consent, approval, filing or registration with or notice
to any governmental authority is required as a condition to the validity of this Agreement or the performance of any of the obligations
of Company hereunder, (c) the issuance of the Exchange Shares is duly authorized by all necessary corporate action and the Exchange Shares
are validly issued, fully paid and non-assessable, free and clear of all taxes, liens, claims, pledges, mortgages, restrictions, obligations,
security interests and encumbrances of any kind, nature and description, (d) Company has not received any consideration in any form whatsoever
for entering into this Agreement, other than the surrender of the Note, (e) Company has taken no action which would give rise to any
claim by any person for a brokerage commission, placement agent or finder’s fee or other similar payment by Company related to
this Agreement, and (f) Company will include the Exchange Shares in the next amended Form S-1 registration statement it files with the
SEC.

 

5.
Investor’s Representations, Warranties and Agreements. In order to induce Company to enter into this Agreement, Investor,
for himself, and for his affiliates, successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: (a) Investor
has full power and authority to enter into this Agreement and to incur and perform all obligations and covenants contained herein, all
of which have been duly authorized by all proper and necessary action, (b) no consent, approval, filing or registration with or notice
to any governmental authority is required as a condition to the validity of this Agreement or the performance of any of the obligations
of Investor hereunder, and (c) Investor has taken no action which would give rise to any claim by any person for a brokerage commission,
placement agent or finder’s fee or other similar payment by Company related to this Agreement.

 

6.
Governing Law; Venue. This Agreement shall be construed and enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Agreement shall be governed by, the internal laws of the State of Delaware, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of Delaware. Each party hereto hereby (i) consents
to and expressly submits to the exclusive personal jurisdiction of any state or federal court sitting in San Diego County, California,
(ii) expressly submits to the exclusive venue of any such court for the purposes hereof, and (iii) waives any claim of improper venue
and any claim or objection that such courts are an inconvenient forum or any other claim, defense or objection to the bringing of any
such proceeding in such jurisdiction or to any claim that such venue of the suit, action or proceeding is improper. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR
IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

7.
Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all signing parties had
signed the same document. All counterparts shall be construed together and constitute the same instrument. The exchange of copies of
this Agreement and of signature pages using electronic signatures shall constitute effective execution and delivery of this Agreement
as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by electronic
transmission (including email) shall be deemed to be their original signatures for all purposes.

 

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8.
Attorneys’ Fees. In the event of any action at law or in equity to enforce or interpret the terms of this Agreement, the
parties agree that the prevailing party shall be awarded the full amount of the attorneys’ fees and expenses paid by such prevailing
party in connection with the litigation and/or dispute without reduction or apportionment based upon the individual claims or defenses
giving rise to the fees and expenses.

 

9.
Severability. If any part of this Agreement is construed to be in violation of any law, such part shall be modified to achieve
the objective of the parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.

 

10.
Entire Agreement. This Agreement supersedes all other prior oral or written agreements between Company, Investor, his affiliates
and persons acting on his behalf with respect to the matters discussed herein, and this Agreement contain the entire understanding of
the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither Investor
nor Company makes any representation, warranty, covenant or undertaking with respect to such matters.

 

11.
Amendments. This Agreement may be amended, modified, or supplemented only by written agreement of the parties. No provision of
this Agreement may be waived except in writing signed by the party against whom such waiver is sought to be enforced.

 

12.
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors
and assigns.

 

13.
Time of Essence. Time is of the essence with respect to each and every provision of this Agreement.

 

14.
Further Assurances. Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in
order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

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IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	HUMBL,
    INC.
	 	 	 
	 	By:
    	 
	 	 	Jeffrey
Hinsahw, COO
	 	 	 
	 	INVESTOR:
	 	 	 
	 	By:
	 
	 	 	[________],
an individualExhibit
10.63

 

PROMISSORY
NOTE

 

	Effective
    Date: March 30, 2022	U.S.
    $1,500,000.00

 

FOR
VALUE RECEIVED, HUMBL, Inc., a Delaware corporation (“Borrower”), promises
to pay to Sartorii, LLC, a Delaware limited liability company, or its successors or assigns
(“Lender”), $1,500,000.00 and any interest, fees, charges, and late fees accrued hereunder on the date that is thirty-six
(36) months after the Purchase Price Date (the “Maturity Date”) in accordance with the terms set forth herein and
to pay interest on the Outstanding Balance at the rate of four percent (4%) per annum simple interest from the Purchase Price Date until
the same is paid in full. This Promissory Note (this “Note”) is issued and made effective as of March 30, 2022 (the
“Effective Date”). This Note is issued pursuant to that certain Note Purchase Agreement dated March 30, 2022, as the
same may be amended from time to time, by and between Borrower and Lender (the “Purchase Agreement”). Certain capitalized
terms used herein are defined in Attachment 1 attached hereto and incorporated herein by this reference.

 

1.
Payment; Prepayment.

 

Payment.
All payments owing hereunder shall be in lawful money of the United States of America, as provided for herein, and delivered to Lender
at the address or bank account furnished to Borrower for that purpose. All payments shall be applied first to (a) costs of collection,
if any, then to (b) fees and charges, if any, then to (c) accrued and unpaid interest, and thereafter, to (d) principal.

 

Prepayment.
Notwithstanding the foregoing, Borrower shall have the right to prepay all or any portion of the Outstanding Balance before it is due
without penalty.

 

    	 

     

    

 

Security.
This Note is unsecured.

 

Defaults
and Remedies.

 

Defaults.
The following are events of default under this Note (each, an “Event of Default”): 2. Borrower fails to pay any principal,
interest, fees, charges, or any other amount when due and payable hereunder; 3. a receiver, trustee or other similar official shall be
appointed over Borrower or a material part of its assets and such appointment shall remain uncontested for twenty (20) days or shall
not be dismissed or discharged within sixty (60) days; 4. Borrower becomes insolvent or generally fails to pay, or admits in writing
its inability to pay, its debts as they become due, subject to applicable grace periods, if any; 5. Borrower makes a general assignment
for the benefit of creditors; 6. Borrower files a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign);
7. an involuntary bankruptcy proceeding is commenced or filed against Borrower; 8. any representation, warranty or other statement made
or furnished by Borrower to Lender herein, in any Transaction Document, is false, incorrect, incomplete or misleading in any material
respect when made or furnished; 9. the occurrence of a Fundamental Transaction without Lender’s prior written consent; 10. any
money judgment, writ or similar process is entered or filed against Borrower or any subsidiary of Borrower or any of its property or
other assets for more than $1,000,000.00, and shall remain unvacated, unbonded or unstayed for a period of twenty (20) calendar days
unless otherwise consented to by Lender; or 11. Borrower fails to observe or perform any covenant set forth in any Transaction Document.

 

Remedies.
At any time and from time to time after Lender becomes aware of the occurrence of any Event of Default (so long as such Event of Default
has not been cured by Borrower), Lender may accelerate this Note by written notice to Borrower, with the Outstanding Balance becoming
immediately due and payable. Notwithstanding the foregoing, upon the occurrence of any Event of Default described in clauses (b), (c),
(d), (e) or (f) of Section 3.1, the Outstanding Balance as of the date of acceleration shall become immediately and automatically due
and payable, without any written notice required by Lender. At any time following the occurrence of any Event of Default, upon written
notice given by Lender to Borrower, interest shall accrue on the Outstanding Balance beginning on the date the applicable Event of Default
occurred at an interest rate equal to the lesser of eight (8%) per annum or the maximum rate permitted under applicable law (“Default
Interest”). In connection with acceleration described herein, Lender need not provide, and Borrower hereby waives, any presentment,
demand, protest or other notice of any kind, and Lender may immediately and without expiration of any grace period enforce any and all
of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded
and annulled by Lender at any time prior to payment hereunder and Lender shall have all rights as a holder of the Note until such time,
if any, as Lender receives full payment pursuant to this Section 3.2. No such rescission or annulment shall affect any subsequent Event
of Default or impair any right consequent thereon.

 

Unconditional
Obligation; No Offset. Borrower acknowledges that this Note is an unconditional, valid, binding and enforceable obligation of Borrower
not subject to offset, deduction or counterclaim of any kind. Borrower hereby waives any rights of offset it now has or may have hereafter
against Lender, its successors and assigns, and agrees to make the payments called for herein in accordance with the terms of this Note.

 

    	 

     

    

 

Waiver.
No waiver of any provision of this Note shall be effective unless it is in the form of a writing signed by the party granting the waiver.
No waiver of any provision or consent to any prohibited action shall constitute a waiver of any other provision or consent to any other
prohibited action, whether or not similar. No waiver or consent shall constitute a continuing waiver or consent or commit a party to
provide a waiver or consent in the future except to the extent specifically set forth in writing.

 

Governing
Law; Venue. This Note shall be construed and enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Note shall be governed by, the internal laws of the State of Delaware, without giving effect to
any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of Delaware. The provisions set forth in the Purchase Agreement
to determine the proper venue for any disputes are incorporated herein by this reference.

 

Cancellation.
After repayment of the entire Outstanding Balance, this Note shall be deemed paid in full, shall automatically be deemed canceled, and
shall not be reissued.

 

Amendments.
The prior written consent of both parties hereto shall be required for any change or amendment to this Note.

 

Assignments.
Borrower may not assign this Note without the prior written consent of Lender. This Note may be offered, sold, assigned or transferred
by Lender without the consent of Borrower.

 

Notices.
Whenever notice is required to be given under this Note, unless otherwise provided herein, such notice shall be given in accordance with
the subsection of the Purchase Agreement titled “Notices.”

 

Liquidated
Damages. Lender and Borrower agree that in the event Borrower fails to comply with any of the terms or provisions of this Note, Lender’s
damages would be uncertain and difficult (if not impossible) to accurately estimate because of the parties’ inability to predict
future interest rates, future share prices, future trading volumes and other relevant factors. Accordingly, Lender and Borrower agree
that any fees, balance adjustments, Default Interest or other charges assessed under this Note are not penalties but instead are intended
by the parties to be, and shall be deemed, liquidated damages.

 

Severability.
If any part of this Note is construed to be in violation of any law, such part shall be modified to achieve the objective of Borrower
and Lender to the fullest extent permitted by law and the balance of this Note shall remain in full force and effect.

 

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IN
WITNESS WHEREOF, Borrower has caused this Note to be duly executed as of the Effective Date.

 

	 	 	 	BORROWER:
	 	 	 	 
	 	 	 	HUMBL,
    Inc.
	 	 	 	 
	 	 	 	By:
    	 
	 	 	 	 	Jeffrey
    Hinshaw, CFO
	 	 	 	 	 
	ACKNOWLEDGED,
    ACCEPTED AND AGREED:
	 
	LENDER:
	 
	Sartorii,
    LLC
	 	 	 	 	 
	By:
    	 	 	 	 
	 	Stephen
Foote, Manager	 	 	 

 

[Signature
Page to Promissory Note]

 

    	 

     

    

 

ATTACHMENT
1

DEFINITIONS

 

For
purposes of this Note, the following terms shall have the following meanings:

 

“Fundamental
Transaction” means that (a) (i) Borrower or any of its subsidiaries shall, directly or indirectly, in one or more related transactions,
consolidate or merge with or into (whether or not Borrower or any of its subsidiaries is the surviving corporation) any other person
or entity, or (ii) Borrower or any of its subsidiaries shall, directly or indirectly, in one or more related transactions, sell, lease,
license, assign, transfer, convey or otherwise dispose of all or substantially all of its respective properties or assets to any other
person or entity, or (iii) Borrower or any of its subsidiaries shall, directly or indirectly, in one or more related transactions, allow
any other person or entity to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding
shares of voting stock of Borrower (not including any shares of voting stock of Borrower held by the person or persons making or party
to, or associated or affiliated with the persons or entities making or party to, such purchase, tender or exchange offer), or (iv) Borrower
or any of its subsidiaries shall, directly or indirectly, in one or more related transactions, consummate a stock or share purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with any other person or entity whereby such other person or entity acquires more than 50% of the outstanding shares of voting stock
of Borrower (not including any shares of voting stock of Borrower held by the other persons or entities making or party to, or associated
or affiliated with the other persons or entities making or party to, such stock or share purchase agreement or other business combination),
or (v) Borrower or any of its subsidiaries shall, directly or indirectly, in one or more related transactions, reorganize, recapitalize
or reclassify the Common Stock, other than an increase in the number of authorized shares of Borrower’s Common Stock, or (b) any
“person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the 1934 Act and the
rules and regulations promulgated thereunder) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the
1934 Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding voting stock of
Borrower.

 

“Outstanding
Balance” means as of any date of determination, the Purchase Price, as reduced or increased, as the case may be, pursuant to
the terms hereof for payment, offset, or otherwise, accrued but unpaid interest, collection and enforcements costs (including attorneys’
fees) incurred by Lender, and any other fees or charges incurred under this Note.

 

“Purchase
Price” means $1,500,000.00.

 

“Purchase
Price Date” means the date the Purchase Price is delivered by Lender to Borrower.

 

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