EXHIBIT 10.14(a)
COUNTERPART NO. ___OF___ MANUALLY EXECUTED COUNTERPARTS, ONLY THE MANUALLY
EXECUTED COUNTERPART NUMBERED "1" SHALL BE DEEMED "CHATTEL PAPER" AS SUCH TERM
IS DEFINED IN THE UNIFORM COMMERCIAL CODE AND IS SUFFICIENT TO TRANSFER LESSOR'S
INTEREST.
SECOND AMENDMENT TO LEASE SUPPLEMENT NO. 1 TO
MASTER LEASE AGREEMENT NO. PEGA1
THIS AMENDMENT TO LEASE SUPPLEMENT XX. 0 XX XXXXXX XXXXX XXXXXXXXX XX.
XXXX0 dated December 28, 1995 (the "Amendment") (Lease Supplement No. 1, as it
incorporates by reference the terms and conditions of Master Lease Agreement No.
PEGA1, hereinafter is known as the "Lease") is made and entered into as of this
____day of October, 2002, by and between ATEL CASH DISTRIBUTION FUND V, L.P. (as
successor in interest by assignment to ATEL Leasing Corporation), a California
limited partnership, with its principal place of business at 000 Xxxx Xxxxxx,
0xx xxxxx, Xxx Xxxxxxxxx, XX 00000 ("Lessor") and FLORIDA CANYON MINING, INC., a
Delaware corporation (as successor in interest to Pegasus Gold Corporation.),
with its principal place of business at 0000 XXX Xxxxxxxxx, Xxxxx 000, Xxxxxx,
Xxxxxxxx 00000-0000 ("Lessee").
WHEREAS, Lessor and Lessee have entered into the Lease; and
WHEREAS, Lessee and Lessor desire to extend the Lease ("Lease Extension")
on the terms and conditions hereinafter set forth.
NOW THEREFORE, the parties hereto agree as follows:
1. The term of the Lease is hereby extended from January 1, 2003 through
and including December 31, 2004 for the Basic Rent amount of
$62,500.00, per month payable in advance. The Lease Payment Date shall
mean the first day of each month during the Lease Extension. The
Commencement Date of this Lease Extension will be January 1, 2003 with
the first payment due January 1, 2003.
2. The Equipment Description is as set forth on Exhibit A attached hereto
and made part hereof.
3. The Equipment location is: Florida Canyon Mine
Exit138, X-00
Xxxxx, Xxxxxx 00000
4. Florida Canyon Mining, Inc. and Apollo Gold, Inc., a Delaware
corporation, (as successors in interest to Pegasus Gold, Inc. the
original Lessee and Pegasus Gold Corporation, the original Guarantor,
respectively), Apollo Gold Corporation and Montana Tunnels Mining,
Inc., hereby agree to be jointly and severally liable as Co-Lessees
under the Lease and all references to Lessee shall mean Florida Canyon
Mining, Inc., Apollo Gold, Inc., Apollo Gold Corporation and Montana
Tunnels Mining, Inc.
5. The first and second sentences of Section 9(b) of the Lease are
deleted in their entirety and replaced with the following:
"Lessee may relocate the location of use of any Item of Equipment
within the continental United States without Lessor's prior
consent, provided, however, Lessee must provide Lessor at least
ten (10) days' prior written notice of any such relocation. Any
change in location of use of any Item of Equipment other than the
location of the Lessee shall be subject to prior execution by the
end user of documentation reasonably satisfactory to Lessor. Any
change in location of use of any Item of Equipment outside the
continental United States will require the prior consent of
Lessor, such consent not to be unreasonably withheld. Lessee
hereby agrees to execute and file any and all Uniform Commercial
Code financing statements required in connection with any
relocation of the Equipment."
6. For purposes of Section 20(b) of the Lease, the Fixed Price Purchase
Option for the Equipment shall be One Dollar ($1.00).
7. LESSEE HEREBY GRANTS TO LESSOR A SECURITY INTEREST IN THE EQUIPMENT
AND HEREBY AGREES TO FILE ANY AND ALL UCC FINANCING STATEMENTS
REQUIRED IN CONNECTION THEREWITH.
During the Lease Extension, all the terms and conditions of the Lease shall
continue in full force and effect except as expressly amended herein.
All capitalized terms used herein and not otherwise defined shall have the
same meaning as in the Lease.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
this ______ day of October, 2002.
ATEL CASH DISTRIBUTION FUND V, L.P. FLORIDA CANYON MINING, INC.
by ATEL Financial Services, LLC, its General
Partner
("Lessor") ("Lessee")
By: By:
--------------------------------- -----------------------------
Title: Title:
------------------------------- --------------------------
MONTANA TUNNELS MINING, INC. APOLLO GOLD CORPORATION
("Lessee") ("Lessee")
By: By:
---------------------------------- --------------------------------
Title: Title:
------------------------------- ------------------------------
APOLLO GOLD, INC.
("Lessee")
By:
---------------------------------
Title:
------------------------------
AMORTIZATION SCHEDULE
Prepared Aug-26-2002 14:29 by . . . . . . . . . . . . . . .Xxxxxxx Xxxxx
Quote number. . . . . . . . . . . . . . . . . . . . . . . . . .NBN-04923
365 day calculations. . . . . . . . . . . . . . . . . . . . . .360 / 360
Customer . . . . . . . . . . . . . . . . . . FLORIDA CANYON MINING, INC.
Model . . . . . . . . . . . . . . . . . . . . . . . . . 944 WHEEL LOADER
Serial Number . . . . . . . . . . . . . . . . . . . . . . . . . 9YF00147
Number
Of
Payments Starting Interest Ending
Date Made Balance Loan Payments 7,49999% Principal Balance
Jan-01-02 0 0.00 6,005,941.12 0.00 0.00 0.00 6,005,941.12
Feb-01-02 1 6,005,941.12 0.00 0.00 37,537.08 -37,537.08 6,043,478.20
Mar-01-02 2 6,043,478.20 0.00 148,792.32 37,771.68 111,020.64 5,932,457.56
Apr-01-02 3 5,932,457.56 0.00 148,792.32 37,077.81 111,714.51 5,820,743.05
May-01-02 4 5,820,743.05 0.00 148,792.32 36,379.59 112,412.73 5,708,330.32
Jun-01-02 5 5,708,350.32 0.00 148,792.32 35,677.01 113,115.31 5,595,215.01
Jul-01-02 6 5,595,215.01 0.00 148,792.32 34,970.04 113,822.28 5,481,392.73
Aug-01-02 7 5,481,392.73 0.00 148,792.32 34,258.66 114,533.66 5,366,859.07
Aug-23-02 8 5,366,859.07 0.00 271,070.05 24,598.07 246,471.98 5,120,387.09
Sep-01-02 9 5,120,387.09 0.00 148,792.32 8,533.97 140,258.35 4,980,128.74
Oct-01-02 10 4,980,128.74 0.00 141,100.53 31,125.76 109,974.77 4,870,153.97
Nov-01-02 11 4,870,153.97 0.00 141,100.53 30,438.42 110,662.11 4,759,491.86
Dec-01-02 12 4,759,491.86 0.00 141,100.53 29,746.78 111,353.75 4,648,138.11
----------------- ------------ ------------- ------------
6,005,941.12 1,735,917.88 378,114.87 1,357,803.01
Jan-01-03 13 4,648,138.11 0.00 141,100.53 29,050.82 112,049.71 4,536,088.40
Feb-01-03 14 4,536,088.40 0.00 141,100.53 28,350.51 112,750.02 4,423,338.38
Mar-01-03 15 4,423,338.38 0.00 141,100.53 27,645.83 113,454.70 4,309,883.68
Apr-01-03 16 4,309,883.68 0.00 141,100.53 26,936.73 114,163.80 4,195,719.88
May-01-03 17 4,195,719.88 0.00 141,100.53 26,223.21 114,877.32 4,080,842.56
Jun-01-03 18 4,080,842.56 0.00 141,100.53 25,505.23 115,595.30 3,965,247.26
Jul-01-03 19 3,965,247.26 0.00 141,100.53 24,782.76 116,317.77 3,848,929.49
Aug-01-03 20 3,848,929.49 0.00 141,100.53 24,055.77 117,044.76 3,731,884.73
Sep-01-03 21 3,731,884.73 0.00 141,100.53 23,324.25 117,776,28 3,614,108.45
Oct-01-03 22 3,614,108.45 0.00 141,100.53 22,588.15 118,512.38 3,495,596.07
Nov-01-03 23 3,495,596.07 0.00 141,100.53 21,847.44 119,253.09 3,376,342.98
Dec-01-03 24 3,376,342.98 0.00 141,100.53 21,102.11 119,998.42 3,256,344.56
----------------- ------------ ------------- ------------
0.00 1,693,206.36 301,412.81 1,391,793.55
Jan-01-04 25 3,256,344.56 0.00 141,100.53 20,352.12 120,748.41 3,135,596.15
Feb-01-04 26 3,135,596.15 0.00 141,100.53 19,597.45 121,503.08 3,014,093.07
Mar-01-04 27 3,014,093.07 0.00 141,100.53 18,838.05 122,262.48 2,891,830.59
Apr-01-04 28 2,891,830.59 0.00 141,100.53 18,073.92 123,026.61 2,768,803.98
May-01-04 29 2,768,803.98 0.00 141,100.53 17,305.00 123,795.53 2,645,008.45
Jun-01-04 30 2,645,008.45 0.00 141,100.53 16,531.28 124,569.25 2,520,439.20
Jul-01-04 31 2,520,439.20 0.00 141,100.53 15,752.72 125,347.81 2,395,091.39
Aug-01-04 32 2,395,091.39 0.00 141,100.53 14,969.30 126,131.23 2,268,960.16
Sep-01-04 33 2,268,960.16 0.00 141,100.53 14,180.98 126,919.55 2,142,040.61
Oct-01-04 34 2,142,040.61 0.00 141,100.53 13,387.73 127,712.80 2,014,327.81
Nov-01-04 35 2,014,327.81 0.00 141,100.53 12,589.53 128,511.00 1,885.816.81
Dec-01-04 36 1,885,816.81 0.00 141,100.53 11,786.34 129,314.19 1,756,502.62
----------------- ------------ ------------- ------------
0.00 1,693,206.36 193,364.42 1,499.841.94
Jan-01-05 37 1,756,502.62 0.00 141,100.53 10,978.13 130,122.40 1,626,380.22
Feb-01-05 38 1,626,380.22 0.00 141,100.53 10,164.86 130,935.67 1,495,444.55
Mar-01-05 39 1,495,444.55 0.00 141,100.53 9,346.51 131,754.02 1,363,690.53
Apr-01-05 40 1,363,690.53 0.00 141,100.53 8,523.05 132,577.48 1,231,113.05
May-01-05 41 1,231,113.05 0.00 141,100.53 7,694.45 133,406.08 1,097,706.97
Jun-01-05 42 1,097,706.97 0.00 141,100.53 6,860.66 134,239.87 963,467.10
Jul-01-05 43 963,467.10 0.00 141,100.53 6,021.66 135,078.87 828,388.23
Aug-01-05 44 828,388.23 0.00 141,100.53 5,177.42 135,923.11 692,465.12
Sep-01-05 45 692,465.12 0.00 141,100.53 4,327.90 136,772.63 555,692.49
Oct-01-05 46 555,692.49 0.00 141,100.53 3,473.07 137,627.46 418,065.03
Nov-01-05 47 418,065.03 0.00 141,100.53 2,612.90 138,487.63 279,577.40
Dec-01-05 48 279,577.40 0.00 141,100.53 1,747.36 139,353.17 140,224.23
----------------- ------------ ------------- ------------
0.00 1,693,206.36 76,927.97 1,616,278.39
Jan-01-06 49 140,224.23 0.00 141,100.53 876.30 140,224.23 0.00
----------------- ------------ ------------- ------------
0.00 141,100.53 876.30 140,224.23
AMORTIZATION SCHEDULE
(Multiple Assets)
Prepared Jan-04-2002 9:50 by . . . . . . . . . . . . . Xxx Xxxxxxxx
Quote number . . . . . . . . . . . . . . . . . . . . . . . RFL-01187
365 day calculations . . . . . . . . . . . . . . . . . . . 360 / 360
Customer . . . . . . . . . . . . . . . . FLORIDA CANYON MINING, INC.
Model. . . . . . . . . . . . . . . . . . . . . . . . Multiple Assets
Number
Of
Payments Starting Interest Ending
Date Made Balance Loan Payments 7.49999% Principal Balance
Jan-01-02 0 0.00 6,005,941.12 0.00 0.00 0.00 6,005,941.12
Feb-01-02 1 6,005,941.12 0.00 0.00 37,537.18 -37,537.08 6,043,478.20
Mar-01-02 2 6,043,478.20 0.00 148,792.32 37,771.71 111,020.61 5,932,457.56
Apr-01-02 3 5,932,457.56 0.00 148,792.32 37,077.85 111,714.47 5,820,743.05
May-01-02 4 5,820,743.05 0.00 148,792.32 36,379.65 112,412.67 5,708,330.32
Jun-01-02 5 5,708,330.32 0.00 148,792.32 35,677.06 113,115.26 5,595,215.02
Jul-01-02 6 5,595,215.02 0.00 148,792.32 34,970.11 113,822.21 5,481,392.74
Aug-01-02 7 5,481,392.74 0.00 148,792.32 34,258.75 114,533.57 5,366,859.08
Sep-01-02 8 5,366,859.08 0.00 148,792.32 33,542.87 115,249.45 5,251,609.58
Oct-01-02 9 5,251,609.58 0.00 148,792.32 32,822.56 115,969.76 5,135,639.77
Nov-01-02 10 5,135,639.77 0.00 148,792.32 32,097.73 116,694.59 5,018,945.15
Dec-01-02 11 5,018,945.15 0.00 148,792.32 31,368.46 117,423.86 4,901,521.20
------------ ------------ ----------- ------------
6,005,941.12 1,487,923.20 383,503.93 1,104,419.27
Jan-01-03 12 4,901,521.20 0.00 148,792.32 30,634.48 118,157.84 4,783,363.34
Feb-01-03 13 4,783,363.34 0.00 148,792.32 29,896.07 118,896.25 4,664,467.00
Mar-01-03 14 4,664,467.00 0.00 148,792.32 29,152.96 119,639.36 4,544,827.55
Apr-01-03 15 4,544,827.55 0.00 148,792.32 28,405.12 120,387.20 4,424,440.37
May-01-03 16 4,424,440.37 0.00 148,792.32 27,632.81 121,139.51 4,303,300.76
Jun-01-03 17 4,303,300.76 0.00 148,792.32 26,895.64 121,896.68 4,181,404.03
Jul-01-03 18 4,181,404.03 0.00 148,792.32 26,133.73 122,658.59 4,058,745.45
Aug-01-03 19 4,058,745.45 0.00 148,792.32 25,367.20 123,425.12 3,935,320.25
Sep-01-03 20 3,935,320.25 0.00 148,792.32 24,595.78 124,196.54 3,811,123.65
Oct-01-03 21 3,811,123.65 0.00 148,792.32 23,819.58 124,972.74 3,686,150.82
Nov-01-03 22 3,686,150.82 0.00 148,792.32 23,038.47 125,753.85 3,560,396.91
Dec-01-03 23 3,560,396.91 0.00 148,792.32 22,252.47 126,539.85 3,433,857.04
------------ ------------ ----------- ------------
0.00 1,785,507.84 317,844.31 1,467,663.53
Jan-01-04 24 3,433,857.04 0.00 148,792.32 21,461.66 127,330.66 3,306,526.29
Feb-01-04 25 3,306,526.29 0.00 148,792.32 20,665.76 128,126.56 3,178,399.73
Mar-01-04 26 3,178,399.73 0.00 148,792.32 19,864.95 128,927.37 3,049,472.38
Apr-01-04 27 3,049,472.38 0.00 148,792.32 19,059.18 129,733.14 2,919,739.24
May-01-04 28 2,919,739.24 0.00 148,792.32 18,248.42 130,543.90 2,789,195.26
Jun-01-04 29 2,789,195.26 0.00 148,792.32 17,432.50 131,359.82 2,657,835.39
Jul-01-04 30 2,657,835.39 0.00 148,792.32 16,611.50 132,180.82 2,525,654.51
Aug-01-04 31 2,525,654.51 0.00 148,792.32 15,785.32 133,007.00 2,392,647.51
Sep-01-04 32 2,392,647.51 0.00 148,792.32 14,954.00 133,838.32 2,258,809.22
Oct-01-04 33 2,258,809.22 0.00 148,792.32 14,117.54 134,674.78 2,124,134.43
Nov-01-04 34 2,124,134.43 0.00 148,792.32 13,275.81 135,516.51 1,988,617.94
Dec-01-04 35 1,988,617.94 0.00 148,792.32 12,428.90 136,363.42 1,852,254.46
------------ ------------ ----------- ------------
0.00 1,785,507.84 203,905.54 1,581,602.30
Jan-01-05 36 1,852,254.46 0.00 148,792.32 11,576.60 137,215.72 1,715,038.71
Feb-01-05 37 1,715,038.71 0.00 148,792.32 10,718.97 138,073.35 1,576,965.37
Mar-01-05 38 1,576,965.37 0.00 148,792.32 9,856.02 138,936.30 1,438,029.07
Apr-01-05 39 1,438,029.07 0.00 148,792.32 8,987.65 139,804.67 1,298,224.42
May-01-05 40 1,298,224.42 0.00 148,792.32 8,113.93 140,678.39 1,157,545.99
Jun-01-05 41 1,157,545.99 0.00 148,792.32 7,234.71 141,557.61 1,015,988.32
Jul-01-05 42 1,015,988.32 0.00 148,792.32 6,349.90 142,442.42 873,545.92
Aug-01-05 43 873,545.92 0.00 148,792.32 5,459.72 143,332.60 730,213.25
Sep-01-05 44 730,213.25 0.00 148,792.32 4,563.77 144,228.55 585,984.76
Oct-01-05 45 585,984.76 0.00 148,792.32 3,662.46 145,129.86 440,854.84
Nov-01-05 46 440,854.84 0.00 148,792.32 2,755.34 146,036.98 294,817.86
Dec-01-05 47 294,817.86 0.00 148,792.32 1,842.59 146,949.73 147,868.15
------------ ------------ ----------- ------------ ------------
0.00 1,785,507.84 81,121.66 1,704,386.18
Jan-01-06 48 147,868.15 0.00 148,792.32 922.48 147,869.84 0.00
------------ ------------ ----------- ------------
0.00 148,792.32 922.48 147,869.84
AMORTIZATION SCHEDULE
(MULTIPLE ASSETS)
Prepared Jan-04-2002 9:50 by . . . . . . . . . . . . . Xxx Xxxxxxxx
Quote number . . . . . . . . . . . . . . . . . . . . . . .RFL-01187
365 day calculations . . . . . . . . . . . . . . . . . . .360 / 360
Customer . . . . . . . . . . . . . . . .FLORIDA CANYON MINING, INC.
Model . . . . . . . . . . . . . . . . . . . . . . . Multiple Assets
Number
Of
Payments Starting Interest Ending
Date Made Balance Loan Payments 7.49999% Principal Balance
TOTAL 6,005,941.12 6,993,239.04 987,297.92 6,005,941.12
Ending balance not equal to early buy-out amount.
