SECOND AMENDMENT TO LOAN AGREEMENT
This Second Amendment to Loan Agreement is entered into this
30th day of November 1995, by and between Xxxxxxx-Xxxx Gold
Company, Inc., a Nevada corporation (the "Lender"), and Great
Basin Management Co., Inc., a Nevada corporation (the
"Borrower").
WHEREAS the Borrower and the Lender have entered into that
certain loan agreement dated August 28, 1995 (the "Loan
Agreement"), as amended October 31, 1995, pursuant to which the
Borrower has borrowed from the Lender and the Lender has lent to
the Borrower,
NOW, THEREFORE, in consideration of the foregoing and of the
mutual covenants, terms and conditions set forth herein, and
other good and valuable consideration, the receipt and
sufficiency of which is hereby expressly acknowledged, the
parties hereto agree that Section 2.1 of the Loan Agreement is
hereby amended to read, in its entirety, as follows:
2.1 There is no requirement to repay the Loan or any interest
thereon unless the Proposed Merger has not occurred by January 1,
1995, in which event the entire amount of the Loan and accrued
interest shall be due and payable on February 1, 1996 (the "Due
Date").
IN WITNESS WHEREOF the parties have caused this Amendment to
Loan Agreement to be executed by their respective officers duly
authorized.
XXXXXXX-XXXX GOLD COMPANY, INC.
By: /s/ Xxxxxx Xxxxxxx
President
GREAT BASIN MANAGEMENT CO., INC.
By: /s/ Dr. Xxxxxxx Xxxxxx
President
