AGREEMENT
THIS AGREEMENT (the "Agreement') is entered into this 1st
day of April 2000, by and between Great Mughal Trade
Associates, Ltd., 321 Allied Building, Victoria, Seychelles
(hereafter "GMTA") and 21" Century Technologies, Inc., 0000
Xxxx Xxxx, 000 Xxxxx, Xx.Xxxxx, XX 00000 XXX (hereafter the
"Company") on the first day written above, as follows:
1 .GMTA agrees to purchase from the Company a NINE HUNDRED
THOUSAND DOLLARS ($900,000.00) receivable due from
Continental Weaponry (PTY) Ltd. in South Africa in
connection with the sale of PT Night Sights. Payment to the
Company shall be made, as follows: FIFTY THOUSAND DOLLARS
($50,000.000) on or before June 16, 2000 with the balance
due divided into ten (10) equal monthly installments
commencing 45 days after inspection and approval of the PT
Night Sight inventory at Continental Weaponry or by
September 1, 2000 whichever is earlier. Payment shall be
made in United States Dollars at the Company's headquarters
in Ft. Worth, TX. If for any reason, any part of the PT
Night Sight inventory is not approved by GMTA after
inspection then in said event payment shall be reduced in
proportion to the. inventory so approved.
5. Each PT Night Sight shall be subject to any and all
express and/or implied warranties of
fitness/merchantability, and other guarantees offered by the
Company.
6. In the event of default on payment, the Company shall
have a security interest in the inventory to the fullest
extent allowed by the laws of South Africa and GMTA agrees
to execute any and all financing documents as may be
required.
7. Any disputes arising, pertaining to, or touching upon
this Agreement shall be submitted
to binding arbitration in accordance with the rules of the
International Chamber of Commerce.
8. This Agreement may not be amended except in writing
signed by all parties.
9. This Agreement may be executed by telefax signature in
multiple
counterparts each of which will be deemed an original.
EXECUTED this 1st day of April 2000 in consideration of the
above
covenants and warranties.
Accepted and Agreed to
Great Mughal Trade Associates, Ltd.
By: /s/Authorized Signature
ManagingDirector
.
Accepted aand Agreed to:
21stst Century Technologies, Inc.
By: /s/ Xxx Xxxxxx
Authorized Signatory
