ASSIGNMENT OF ASSET PURCHASE AGREEMENT, SECURED PROMISSORY NOTE, SECURITY AGREEMENT AND PLEDGE AGREEMENTAssignment of Asset Purchase Agreement, Secured Promissory Note, Security Agreement and Pledge Agreement • May 8th, 2013 • Experience Art & Design, Inc. • Services-management consulting services
FOR VALUE RECEIVED, the undersigned, CI Holdings, Inc., an Oregon corporation (CI”), hereby assigns its obligations with respect to the Quota (but not with respect to the Assets) under the (1) Asset Purchase Agreement dated September 18, 2012 by and among it, Paul Deloughery (“Deloughery”) and Chiurazzi International, LLC, an Arizona limited liability company (“Chiurazzi Arizona”) (CI, Deloughery and Chiurazzi Arizona sometimes referred to as the “Parties”); (2) Secured Promissory Note dated September 18, 2012 in the original principal amount of Two Million Eight Hundred Thousand Dollars ($2,800,000.00) owed by CI to Chiurazzi Arizona; (3) Amendment No. 1 to the Secured Promissory Note dated March 18, 2013 between CI and Chiurazzi Arizona; (4) Security Agreement dated September 18, 2012 by and among CI, Chiurazzi Arizona and Chiurazzi Internazionale, S.r.l., an Italian company (“Chiurazzi Italy”); and (5) the Pledge Agreement over Quotas dated September 18, 2012 by and among CI, Chiura
