AMENDMENT TO LOAN AGREEMENT
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THIS AGREEMENT dated as of the 15th day of October, 2001
BETWEEN:
COYOTE VENTURES CORP., a company incorporated under the laws of
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the State of Nevada
(hereinafter called the "Borrower")
OF THE FIRST PART
AND:
XXXXXX XXXXXXXX, of 0000 Xxxxxxxx Xxxxxx, Xxxxx 0000
----------------
Xxxxxxxxx, XX, Xxxxxx X0X 0X0
(hereinafter called the "Lender")
OF THE SECOND PART
WHEREAS:
A. The parties entered into a loan agreement dated August 14, 2001 (the
"Loan Agreement");
B. The parties have agreed to amend the Loan Agreement to increase the
amount of the Loan.
NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the sum of $1.00
paid by each party to the other (the receipt of which is hereby acknowledged)
the parties hereto mutually covenant and agree as follows:
1. The Loan Agreement is hereby amended by increasing the amount of the Loan
from $20,000 to $30,000. All other terms and conditions of the Loan Agreement
will remain in full force and effect without amendment.
2. To evidence the increase in the amount of the Loan, the Borrower agrees
to enter into a promissory note in the form attached hereto as Schedule "A".
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3. The Loan Agreement is deemed to have been amended as of the day and year
first above written and, in all other respects, save and except as herein
provided, the Loan Agreement is hereby confirmed.
4. This agreement may be executed in one or more counterparts, each of which
so executed shall constitute an original and all of which together shall
constitute one and the same agreement.
IN WITNESS WHEREOF the parties hereto have caused this Agreement to be duly
executed and delivered as of the day and year first written above.
THE BORROWER:
COYOTE VENTURES CORP.
by its authorized signatory:
/s/ Xxxxx X. Xxxxxxxx
________________________________
Xxxxx X. Xxxxxxxx
THE LENDER:
/s/ XXXXXX XXXXXXXX
_______________________________
XXXXXX XXXXXXXX
F:\Client Files\3600-3699\3698\10-LoanAgt w_K.Houghton\Loan Agmt.Amended.doc
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Schedule "A"
PROMISSORY NOTE
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EXECUTED BY: COYOTE VENTURES CORP.
(the "Borrower")
IN FAVOUR OF: XXXXXX XXXXXXXX
(the "Lender")
PRINCIPAL AMOUNT: $10,000 (U.S.)
DATE OF EXECUTION: OCTOBER 15, 0000
XXXXX XX XXXXXXXXX: XXXXXXXXX, XX, XXXXXX
FOR VALUE RECEIVED the Borrower hereby promises to pay to or to the order of the
Lender on December 31, 2002, the principal sum of $10,000 (U.S.), together with
interest thereon from the date of advancement of the funds, at the rate of 5%
per annum, calculated and compounded annually, both before and after maturity
from the date hereof.
The Borrower waives presentment, demand, notice, protest and notice of dishonour
and all other demands and notices in connection with the delivery, acceptance,
performance, default or enforcement of this Promissory Note.
The Borrower agrees this Promissory Note may be negotiated, assigned,
discounted, or pledged by the Lender and in every case payment will be made to
the holder of this Promissory Note instead of the Lender upon notice being given
by the holder to the undersigned, and no holder of this Promissory Note will be
affected by the state of accounts between the undersigned and the Lender or by
any equities existing between the undersigned and the Lender and will be deemed
to be a holder in due course and for the value of the Promissory Note held by
him.
DATED at Vancouver, BC, this 15th day of October, 2001.
COYOTE VENTURES CORP.
by its authorized signatory
/s/ XXXXX XXXXXXXX
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Signature of Authorized Signatory
XXXXX XXXXXXXX
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Name of Authorized Signatory
