AMENDING AGREEMENT
Exhibit 10.1.1 First Amending Agreement (Sept 22, 2006) to Property Option Sept 8, 2006
AMENDING AGREEMENT
THIS SECOND AMENDING made 22nd day of September 2006.
BETWEEN:
BRONX VENTURES INC. of Xxxxx 000, 0000 Xxxx Xxxxxx Xxxxxx, Xxxxxxxxx, XX, X0X 0X0
(the "Optionor")
AND:
COLT CAPITAL CORP. of Xxxxx 000, 0000 Xxxx Xxxxxx Xxxxxx, Xxxxxxxxx, XX, X0X 0X0
(the "Optionee")
WHEREAS the parties entered into an option agreement executed and made effective the 8th day of September, 2006, (the "Option Agreement"), with respect to an option on certain mineral claims and the parties wish to amend the terms thereof;
NOW THEREFORE in consideration of good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
1.
Definitions
In this second amending agreement, unless otherwise provided for herein, any defined term will have the meaning ascribed to it in the Option Agreement.
2.
Amendments
Paragraph 3.2(d) of the Option Agreement shall be deleted in its entirety and replaced with the following:
"(d)
on formation of the Joint Venture each of the parties will have been deemed to have contributed $373,770 towards exploration costs on the Property. If any party fails to contribute to its share of future exploration costs approved pursuant to the Joint Venture Agreement its interest will be diluted on a straight line basis. If any party’s interest is diluted to less than a 10% interest that party’s interest will be deemed to have been converted into a 0.5% (one-half of 1%) net smelter returns royalty (the "JV NSR Royalty") payable as set forth in Schedule "B" of this Agreement";
3.
Full Force and Effect
The parties hereto agree that, save as amended by this amending Agreement, the Option Agreement shall remain in full force and effect.
4.
Governing Law
This Second Amending Agreement shall be governed by and construed in accordance with the laws of the Province of British Columbia.
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5.
Execution and Delivery
This agreement may be executed in counterparts and delivered by facsimile, each of which when howsoever signed and delivered being deemed an original and together forming one and the same instrument bearing the date first above written notwithstanding the date of actual execution.
IN WITNESS WHEREOF the parties hereto have hereunto executed this agreement as of the day and year first above written.
BRONX VENTURES INC.
Per:
Authorized Signatory
COLT CAPITAL CORP.
Per:
Authorized Signatory
