Contract
This
definitive agreement is between Inform Worldwide Holdings Inc. ( Henceforth
referred as (“IWWT") and Opal Industries, Inc.(Henceforth referred to as “OPAL”)
IWWI conducts business from its address of record and office at 0000 Xxxxx
Xxxxx
Xxxxxx Xxxxxxx, Xxxxx 000, Xxxxxxxxx, XX 00000. OPAL conducts business from
it
address of record at X.X. Xxx 000, Xxxxxxx, XX 00000.
Whereas,
it is know that this definitive agreement is a binding agreement between IWWI
and OPAL. However, a subsequent final document will be
prepared. The following document will not alter terms of this
definitive agreement, without consent of both parties, or change the status
of
the binding nature of this document. The subsequent document will
formalize this document.
Whereas,
be it known, that for good consideration, and in payment of the sum of $5,000.00
and restricted stock in IWWI of the value of $15,000, the receipt and
sufficiency of which is acknowledged, OPAL hereby sells, transfers, and assigns
forever the following described permit, and least to IWWI. The permit
and lease is in reference to the “Nowrytown #1” mine site that consists of the
“Xxxxxxxxx”, “Mancabelli” , and “Topplers” Lese. Its is acknowledged tha the
only lease OPAL is to assign, in good standing, is the “Toplers” lease. IWWI has
thirty days to commence transfer process of said permit and 140 business days
to
complete said transfer, IWWI will have the right to immediately commence mining
activity and possess all the rights under the permit. IWWI will have
the right to operate under the bond of OPAL for 140 business
day. IWWI will have 140 business day to replace the XXXX xxxx,
allowing OPAL to claim their bond. IWWI will assume the liability of the bond,
upon the commencement of mining activity. IWWI has 30 days to deliver
the restricted stock of IWWI.
Whereas,
OPAL has 140 business day to remove all equipment owned, or leased by OPAL
from
the “Nowrytown#1” site.
OPAL
warrants to IWWI that it has food and marketable title to said permit and lease,
full authority to sell and transfer said permit and lease, and the said permit
and lease are sold free of all liens, encumbrances, liabilities and adverse
claims of every nature and description whatsoever.
OPAL
further warrants to IWWI that it will full defend, protect, indemnify and hold
harmless the IWWI and its lawful successors and assigns from any adverse claim
thereto.
OPAL
will
give first right of refusal on the sale of all of its coal related holding
to
IWWI.
Signed
this 25th day
of May, 2007.
In
the
presence of:
/s/
Xxxxx
X
Xxxxx /s/Xxxxxx
Xxxxxxxxxxx
____________________________ ____________________________
Xxxxx
X.
Xxxxx
Xxxxxx
Xxxxxxxxxxx, C.E.O.
Opal
Industries,
Inc. Inform
Worldwide Holdings, Inc.
