PURCHASE AGREEMENT
This purchase agreement is entered into between Auric Enterprises, Inc.
(Auric) and R.E. Xxxx, (the "Agreement") with reference to the following
facts.
1. PURCHASE OF CLAIMS
Auric has agreed to purchase four mine claims located in Trinity County,
California, (Wild Mountain 1,2,3,4), from R.E. Xxxx. For consideration
in the purchase, Auric will issue R.E. Xxxx 200,000 shares of
unregistered common stock, subject to rule 144 of the Securities and
Exchange Act of 1933.
2. RIGHTS GRANTED TO AURIC BY R.E. XXXX
R.E. Xxxx will xxxxx Xxxxx the right to assign the following options on
150,000 of the 200,000 shares issued to R.E. Xxxx as consideration for
the prementioned claims:
An option to purchase from R.E. Xxxx 100,000 shares of Auric
common stock at $.25 per share, exercisable for a period of two
years from the date of this agreement
An option to purchase from R.E. Xxxx 50,000 shares of Auric
common stock at $.50 per share, exercisable for a period of two
years from the date of this agreement
3. NOTICES
Any notices from either party to the other shall be deemed received on
the date such notice is personally delivered. Any notice sent by fax
transmission shall be deemed received by the other party on the day it
has been transmitted. Any notice sent by mail by either party to the
other shall be deemed received on the third business day after is has
been deposited at a United States Post Office. For purposes of
delivering or sending notice to the parties to this Agreement such
notices shall be delivered or sent as follows:
If notice is delivered If notice is delivered
to Auric Enterprises to RE Xxxx
Auric Enterprises, Inc. Xxxx, R. E.
10 Office Park Road 17-777 Xxxxxxxx Xx. #38
Suite 000 Xxxxxxxx Xxx Xxxxxx Xxx Xxxxxxx, Xx 00000
Xxxxxx Xxxx, XX 00000 Bus: (000) 000-0000
Phone: 000-000-0000
Fax: 000-000-0000
4. ENTIRE AGREEMENT
Neither party has made any representations to the other which are not
specifically set forth in this Agreement. There are no oral or other
agreements between the parties, which have been entered into prior or
contemporaneously with the formation of this Agreement. All oral
promises, agreements, representations, statements and warranties
hereinafter asserted by one party against the other shall be deemed to
have been waived by such party asserting that they were made and this
Agreement shall supersede all prior negotiations, statements
representations, warranties and agreements made or entered into between
the parties to this Agreement.
5. NO ASSIGNMENT
Neither party may assign any benefit due or delegate performance under
this Agreement without the express written consent of the other party.
6. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the
laws of the State of Nevada. It shall also be construed as if the parties
participated equally in its negotiation and drafting. The Agreement shall
not be construed against one party over another party. Should a dispute
arise, both parties agree to submit to binding arbitration under the
guidelines of the American Arbitration Association or some other mutually
agreeable Arbitration Association.
7. WAIVER
The waiver of any provision of this Agreement by either party shall not
be deemed to be a continuing waiver or a waiver of any other provision of
this Agreement by either party.
8. SERVERABILITY
If any provision of this Agreement or any subsequent modifications hereof
are found to be unenforceable by a court of competent jurisdiction, the
remaining provisions shall continue to remain in full force and effect.
9. AUTHORITY TO ENTER INTO AGREEMENT
Xxxxxx Xxxxxxx, signing this Agreement below represent to RE Xxxx that he
has the authority to bind Auric Enterprises to the terms and conditions
of this Agreement. Xxxxxx Xxxxxxx shall not, however have personal
liability by executing this Agreement and sign this Agreement only in his
representative capacities as an authorized officer of Auric Enterprises,
Inc.
Dated this of December, 1998 Dated this of December, 1998
Auric Enterprises, Inc.
by___________________________ ________________________
Xxxxxx Xxxxxxx, President RE Xxxx
