Exhibit 10.6
PURCHASE AGREEMENT
AND
PROMISSORY NOTE
It is agreed by EL Capitan LTD, as ("Purchaser") and X.X. XxXxx and Sons, the
("Seller") that $25,000 will be the selling price for the following:
The BLM Claim NMMC serial #163908 Smokey #3 Located at
TOWNSHIP 8 SOUTH, RANGE 14 EAST
Section 10:SE 1/4, Section 15: NE 1/4, El Capitan Mining District, Lincoln
County, NM.
In addition to the above claim, the following personal and real property that is
presently owned by X.X. XxXxx and Sons shall be included as part of the sale:
The steel building, all tools and equipment that are presently on the claim or
the property described at the legal description above.
TERMS
El Capitan LTD will pay $15,000 down payment upon all parties executing this
agreement. The balance of $10,000 will be paid to X.X. XxXxx and Sons on May 17,
1999 as per the Promissory Note listed below.
For value received, the undersigned El Capitan LTD ("the Purchaser") promises to
pay to the order of X.X. XxXxx and Sons (the "Seller"), at X.X. Xxx 000,
Xxxxxxx, XX 00000 (or at such other place as the Payee may designate in writing)
the sum of $10,000.00.
The unpaid principal shall be payable in full on May 17, 1999 (the "Due Date").
All payments of principal on this Note shall be paid in the legal currency of
the United States.
This Note shall be construed in accordance with the laws of the State of NM.
Signed this _____ day of _______________, 19___, at Capitan, NM.
Purchaser: EL Capitan LTD
By:
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X.X. Xxxxxxx, Vice President, El Capitan, LTD.
Seller's: X.X. XxXxx and Sons
By:
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Xxxxx XxXxx
By:
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Xxxxxx X. XxXxx
By:
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Xxxxxx X. XxXxx
