COLLATERAL AGENT AGREEMENT
Exhibit
10.8
The
undersigned, Xxxx X. Xxxxxxx, Esq.,
personal attorney for Xxx Xxxxxxx will act as collateral agent in regards to
the
items on Exhibit “B” to the February 22, Beach Boys Memorabilia Purchase
Agreement entered into between Xxx Xxxxxxx and Focus.
1. The
undersigned shall be
the only key holder and the items will be held under the undersigned’s exclusive
control, subject to the undersigned’s priority lien.
2. The
Exhibit “B”
memorabilia collections shall be stored at “the Fortress in downtown Miami,
Florida.
3. The
undersigned shall be
reimbursed for the past storage of the collection in the warehouse located
at
00000 X.X. 124 Street, where it has been stored since the dispute with the
Beach
Boys began and shall be reimbursed for the storage at the Fortress, prior to
its
discharge.
4. The
designated
agent for Focus is Xxxxxx Xxxxxxx, 00000 X.X. 00 Xxxxxx, Xxxxx 000, Xxxxxxxx,
Xxxxxxx 00000, (000) 000-0000, who is acknowledged by collateral agent and
who
further agrees that Xxxxxx Xxxxxxx shall receive notice by overnight
mail as agent for lenders, so that a corporate officer of Global
Realty Development Corporation may be present upon removal of said
item from the Beach Boys Memorabilia collection. Should any item in
the collection be placed for sale or auction Xxxxxx Xxxxxxx shall further
receive notice of the transfer of any proceeds from individual item’s sales to
the undersigned’s Florida Bar trust account.
5. The
collateral agent
shall control access to the collateral so that access may only be had under
his
supervision or recorded by collateral agent or his representatives.
6. The
undersigned’s law
offices are located at Xxx Xxxxxxxxx Xxxxx Xxxxxx, Xxxxx 0000, Xxxxx, Xxxxxxx
00000, (000) 000-0000.
Dated
this ____ day of July,
2007.
_______________________________
Xxxx
X. Xxxxxxx
