Contract
This
Note has not been registered under the Securities Act of 1933 (the "Securities
Act"), or under the provisions of any applicable state securities laws, but has
been acquired by the registered holder hereof for purposes of investment and in
reliance on statutory exemptions under the Securities Act, and under any
applicable state securities laws. This Note may not be sold, pledged,
transferred or assigned except in a transaction which is exempt under provisions
of the Securities Act and any applicable state securities laws or pursuant to an
effective registration statement; and in the case of an exemption, only if the
Company has received an opinion of counsel satisfactory to the Company that such
transaction does not require registration of this Note.
Pinnacle
Resources, Inc.
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December
31, 2009
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$10,000
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6%
PROMISSORY NOTE
PINNACLE RESOURCES, INC. a Wyoming
corporation (the "Company"), with offices located at 0000 X. Xxxxxxxx Xxxx,
Xxxxx 000, Xxxxxxxxx, Xxxxxxxx 00000, for value received, hereby promises to pay
to IRON EAGLE GROUP, a Nevada corporation or registered assigns (the "Holder"),
the principal sum of Ten Thousand ($10,000) Dollars. Principal and
Interest shall be due and payable to the Holder on December 31, 2010. Payment
shall be made to the Holder by check delivered by hand to the
Holder.
Borrower may at any time or from time
to time make a voluntary prepayment, whether in full or in part, of this Note,
without premium or penalty.
Borrower waives presentment for
payment, notice of dishonor, protest and notice of protest of this
Note.
No delay or omission on the part of the
holder in exercising any right hereunder shall operate as a waiver of such right
or of any right of such holder, nor shall any delay, omission or waiver on any
one occasion be deemed a bar to or waiver of the same or any other right on any
future occasion.
This Note shall be binding upon the
undersigned and its successors and assigns. Any notice, demand or
communication in respect of this Note shall be validly given, or made on, the
undersigned if in writing and delivered or sent by registered mail, postage
prepaid, addressed to the undersigned at the address set forth above or any
subsequent business address of the undersigned.
If any term or provision of this Note
or the application thereof to any person or circumstances shall, to any extent,
be invalid or unenforceable, the remainder of this Note or the application of
such term or provision to persons or circumstances other than those as to which
it is held invalid or unenforceable, shall not be affected thereby, and each
such term and provision of this Note shall be valid and be enforced to the
fullest extent permitted by law.
This Agreement may not be modified,
changed, supplemented or terminated, nor may any obligations hereunder be
waived, except by written instrument signed by the party to be charged or by his
agent duly authorized in writing or as otherwise expressly permitted
herein. No extension of time for performance of any obligation or act
shall be deemed an extension of the time for performance of any other obligation
or act.
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Pinnacle
Resources, Inc.
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By:
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_______________________ | |
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Name:
Xxxx X. Xxxxxx
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Title:
CEO
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