ASSIGNMENT OF PROMISSORY NOTE
THIS AGREEMENT is made as of the 29th day of July, 1999.
B E T W E E N
CHEROKEE MINING COMPANY, INC., a
corporation incorporated under the laws of the State
of Wyoming,
(hereinafter called the "Assignor")
OF THE FIRST PART,
-and
INFOCAST CORPORATION, a corporation
incorporated under the laws of the State of Nevada,
(hereinafter called the "Assignee")
OF THE SECOND PART.
WHEREAS the Assignor is the holder of a promissory note (the
"Promissory Note") issued by Silver Wing Co., Inc., (the "Maker") dated the 29th
day of July, 1999 for the principle sum of US$250,000 plus interest at a rate
per annum equal to the Prime Rate (as more particularly set out in the
Promissory Note);
AND WHEREAS the Assignor has agreed to assign all of its
right, title and interest in the Promissory Note to the Assignee;
AND WHEREAS capitalized terms not defined herein shall have
the meanings ascribed to them in the Promissory Note;
NOW THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration
of the sum of One Dollar in lawful money of the United States of America
(US$1.00) now paid by the Assignee to the Assignor (the receipt and sufficiency
of which is hereby acknowledged) and in consideration of the mutual terms and
covenants herein set forth, the parties hereto covenant and agree as follows:
1. The Assignor does hereby agree to assign, set over, transfer,
grant and convey to the Assignee all of its right, title and
interest in and to the Promissory Note.
2. The Assignor represents and warrants to the Assignee that it
has full power and authority to assign the Promissory Note to
the Assignee.
3. The parties hereto further covenant and agree that they will
each execute such further and other documents and do all such
further and other things as may be necessary or requisite in
connection with this Agreement.
4. This Agreement shall enure to the benefit of the heirs,
executors, administrators, successors and assigns of the
Assignee and shall be binding upon the successors and assigns
of the Assignor.
IN WITNESS WHEREOF the parties have executed this assignment
as of the day and year first written above.
CHEROKEE MINING COMPANY, INC.
Per: /s/
---------------------------------
INFOCAST CORPORATION
Per: /s/ A.T. Xxxxxxx
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