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EXHIBIT 10.(xxix)
[EQUATORIAL RESOURCES (BRAZIL) LTDA. LETTERHEAD]
19 June 1997
Sr. Xxxxx Xxxx Xxxxxxxx Xxxxxxxxx
XXXXXXXXXX S.A.
Travessa Xxxxxxxx Xxxxxxxx, 1210
Belem-Para-Brasil
Re:
And Development of Timber Properties dated 30 May 1997
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Dear Xxxxx:
This letter is intended to memorialize the discussions we have had to
acquire the rights to extract certain species of timber on properties located
adjacent to or in the vicinity of your property in Moju, Para.
Specifically, you have identified the following properties available
for development:
Name of Property Size of Property (Ha.)
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Xxxxxxx Xxxxx Xxxxxxxx 8,000
Xxxx Xxxxxxxx 7,000
Arcileu de Xxxxx (Xxxxx) 25,000
Xxxxxx Xxxxxxxx 3,000
Xxxxx Xxxxxxx 30,000
Anfresio Xxxxx 390,000
Terranorte has agreed to use your best efforts to acquire the
properties and/or the rights to harvest the same species of timber which are
the subject of the above-referenced agreement (the "Agreement"). At the time at
which these properties are acquired by Terranorte, you and/or your designees,
it is agreed that such properties shall become subject to the terms and
conditions of the Agreement. Xxxxxxxxxx hereby agrees to notify Equatorial in
writing at such time as it or its designee has acquired these rights.
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EQUATORIAL RESOURCES (BRAZIL) LTDA.
Page 2
If this letter is consistent with your understanding of our agreement, kindly
signify by placing your signature on the space below provided for your
signature. A Portuguese version of this letter is enclosed for your
convenience.
Very truly yours,
EQUATORIAL RESOURCES (BRAZIL) LTDA.
By: /s/ XXXXXXXX X. XXXXXXXXX
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Xxxxxxxx X. Xxxxxxxxx, President
AGREED AND ACCEPTED
TERRANORTE S.A.
By: /s/ XXXXX XXXX BALIEIRO XXXXXXXXX
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Xxxxx Xxxx Balieiro Xxxxxxxxx
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