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EXHIBIT 10.25
ADDENDUM TO ASSIGNMENT AND ASSUMPTION AGREEMENT
The Assignment and Assumption Agreement of even date herewith, made by,
between and among Golf Where, LLC ("Assignor"), Xxxxxx Xxxxx ("Xxxxx"), Xxxxx
Xxxxx ("Xxxxx"), and Xxxxxxx Hills, Ltd. Inc., a Utah corporation ("Assignee"),
is hereby supplemented by the following provisions, which shall be deemed to be
a part of said Agreement (the "Agreement") for all purposes:
A. Upon the execution of the Agreement, and as additional consideration
therefor, Assignee shall cause 250,000 shares of BLTD (restricted) common stock
(the "Shares") to be issued or transferred to Assignor or its designee.
B. Assignee agrees to cause the restrictions with respect to the Shares to
be removed at the rate of 62,500 for every three full calendar months while the
Agreement remains in effect.
C. In the event that the Agreement shall be terminated by Assignor pursuant
to Paragraph 9 of the Agreement, Assignor will be entitled to retain 50,000 of
the Shares, but shall be obligated to return the remaining 200,000 shares to
Assignee. For such purpose, and if necessary in order to effect a return of said
200,000 shares to Assignee, Assignor hereby irrevocably appoints Assignee as its
attorney in fact, to transfer said shares to Assignee on the books and records
of Assignee and its designated transfer agent, with full power of substitution
in the premises.
IN WITNESS WHEREOF, the parties hereto have executed this Addendum as of
the _____ day of May, 2000.
GOLF WHERE, LLC
By Xxxxxx Xxxxx
Its Manager
/s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
XXXXXXX HILLS, LTD.
By: /s/ Xxxx Xxxxxxxxxxx
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Xxxx Xxxxxxxxxxx, President
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