AGREEMENT
BY AND BETWEEN THE PARTIES
Reclamation Consulting And Applications, Inc, a Colorado Company with offices at
Suite 275, 00000 Xxxxxxxxx Xxxx, Xxxx Xxxxxx, XX 00000 being represented by Xxxx
Xxxxxx, Vice President, hereinafter "RCAI"
AND
North American Systems, Inc. a Nevada corporation with offices located at 0000
Xxxxxxx Xxxxxx Xxxxx Xxx, XX 00000 being represented by Xxxxxx Xxxxxx,
President, hereinafter "NASI"
RECITALS:
Reclamation Consulting And Applications, Inc. Is a Public Company, which is
fully trading on the Bulletin Board in the United States of America Public
Markets and is desirous of acquiring assets to work with and increase in value
for the benefit of its shareholders. North American SYstems, Inc. is the owner
of certain asset in the form of machinery, equipment and operational systems and
manuals in the state of Utah at 0000 X. 0000 X. Xxxxx X, Xxxx Xxxxxx, XX 00000.
North American Systems, Inc. will transfer one hundred percent (100%) ownership
in machinery, equipment, operational systems and manuals
UNDER THE TERMS AND CONDITIONS AS FOLLOWS:
(1) NASI will transfer to RCAI all equipment, machinery, operational systems
and manuals located at 0000 X. 0000 X. XXxxx X, Xxxx Xxxxxx, XX 00000
for a total purchase price of $275,000.USD.
(2) RCAI will reduce their revolving loan agreement with NASI by $275,000
USD upon completion of the transfer of machinery, equipment, and
operational systems and manuals.
(3) The parties agree that this agreement constitutes the entirety of the
agreement between parties and any other agreements either verbal or
written are of no consequence concerning this agreement.
Signed and agreed this 8th day of November, 2004 by the parties,
/s/: Xxxx Xxxxxx
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Xxxx Xxxxxx for Reclamation Consulting And Applications, Inc..
/s/: Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx for North American Systems, Inc.