PURCHASE AGREEMENT
Exhibit
10.1
Between
AGA
Resources Inc. of Suite 658, 000-000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx
Xxxxxxxx, Xxxxxx (after here referred to as "the Buyer");
And
Omega
Services of 0000 Xxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxx Xxxxxxxx, Xxxxxx (after
here referred to as "the Seller")
Whereas
It
is
agreed that the Buyer agrees to purchase and the Seller agrees to sell the
equipment listed in Appendix I according to the following terms and
conditions:
1.
Payment Schedule
The
total
value of the equipment as listed in Appendix 1 is C$40,365.12 (Canadian Dollars
Forty Thousand Three Hundred Sixty Five and Twelve Cents) which will be payable
in three installments as follows:
1)
Upon
signing this Agreement the Buyer will pay the Seller C$10,000.00 (Canadian
Dollars Ten Thousand) as down payment;
2)
The
Buyer will pay the Seller C$10,000 (Canadian Dollars Ten Thousand) in 4 months
as the second payment;
3)
The
Buyer will pay the Seller the balance of C$20,365.12 (Canadian Dollars Twenty
Thousand Three Hundred Sixty Five and Twelve Cents) in 6 months as the final
payment.
3.
Condition
The
Payment is subject to examination of an engineer appointed by the Buyer to
ensure the equipment is in good working condition.
4.
Default and Remedies
4.1
Buyer
will be, and is, in default of this Agreement if any of the following
happens:
Buyer
breaches or fails to comply with this Agreement;
Buyer
undertakes any action inconsistent with this Agreement;
4.2
Seller will be, and is, in default of this Agreement if any of the following
happens
Seller
breaches or fails to comply with this Agreement;
Seller
undertakes any action inconsistent with this Agreement.
4.3
Buyer
should pay any overdue payment under this Agreement penalty equals to 1%
of the
outstanding balance every month until the full payment has been
paid.
4.4
The
payment obligation of the Buyer under this Agreement should be secured by
an
equipment mortgage granted by the Buyer to the Seller to protect the Seller
in
the event of a payment default.
-1-
5.
General
|
(1)
|
This
Agreement shall be governed by and construed and enforced in
accordance
with the laws of British Columbia;
|
| (2) | This Agreement sets forth the entire agreement and understanding of the parties in respect to the matters contained herein and supersedes all prior agreements, arrangements and understandings relating thereto. |
|
(3)
|
All
of the terms and conditions of this Agreement shall be binding
upon, and
inure to the benefit of and be enforceable by, the parties
hereto.
|
|
(4)
|
If
any provision included in this Agreement proves to be invalid or
unenforceable, it shall not affect the validity of the remaining
provisions.
|
|
(5)
|
This
Agreement and any amendment or modification of this Agreement may
be
executed in several counterparts or by separate instruments and
all of
such counterparts and instruments shall constitute one agreement,
binding
on all of the parties hereto.
|
6.
Form
of Signature
The
parties hereto agree to accept a facsimile transmission copy of their respective
actual signatures as evidence of their actual signatures to this Agreement
and
any amendment or modification of this Agreement; provided, however, that
each
party who produces a facsimile signature agrees, by the express terms hereof,
to
place, promptly after transmission of his or her signature by fax, a true
and
correct original copy of his or her signature in overnight mail to the address
of the other party.
IN
WITNESS WHEREOF,
the
parties have duly executed this Agreement as of the date first set forth
below.
|
Party A: AGA
Resources, Inc.
|
Party B: Omega
Services
|
|
| /s/ Xxxxx, XxxxXxxx | /s/ X. X. Xxxxxxx | |
| Name: Xxxxx, XxxxXxxx | Name: X.X. Xxxxxxx | |
| Title: President | Title: President | |
|
Dated this 19th day of May, 0000
|
-0-
Xxxxxxxx
1
The
following equipment list is for the diamond core drilling package:
|
Number
of Pieces and Description
|
Price
|
|
1
x
Xxxxxx BBS-1 screw feed diamond core drill with
an A-head
|
$27,182.37
|
|
1
x
Wireline adapted portable unit for the drill, including
motor, drum and 700' of 3/16" wire-line cable
|
1,514.23
|
|
3
x
overshot assemblies plus parts
|
710.64
|
|
68
pieces of 10 foot AQ steel rods (Xxxxxxxx)
|
2,720.00
|
|
20
pieces of 2 foot AQ steel casing (Xxxxxxxx)
|
480.00
|
|
1
x
Brahma 2" pressure pump
|
3,463.18
|
|
1
x
Duplex 2" supply/pressure pump
|
1,904.96
|
|
1
x
2´supply pump
|
367.43
|
|
2
x
medium, thin-walled, diamond bits
|
274.16
|
|
5
x
medium, step, diamond bits
|
780.40
|
|
2
x
AQ casing shoes
|
311.41
|
|
2
x
AQ reaming shells
|
416.34
|
|
170'
- 1/2" cable
|
240.00
|
|
2
x
water swivels and monkeys
|
840.15
|
|
Assorted
tools, foot-clamp, etc
|
1,044.70
|
|
Total
|
$
40,365.12
|
