AMENDMENT TO ASSET PURCHASE AGREEMENT DATED MAY 1, 2000
Date: December 15, 2000
Seller: Del Xxxxx Fisheries (Principals: Xxxxxxx X. Xxxxxxx, Xxxxx X. Xxxxxxx
and Xxxxxxxx X. Xxxxx)
Buyer: PowerNomics Enterprise Corp.
This amendment to the Asset Purchase Agreement (APA) dated May 1, 2000
is effective upon execution by both parties. All terms and conditions of the APA
dated May 1, 2000 remain the same except as follows:
1. Paragraph 1 shall be amended to add new paragraph (C) as follows:
"The Buyer will make a $100,000 payment to the Seller on the obligation, on or
before December 31, 2000. The balance of $755,000 will carry an interest rate
equal to the prime rate at December 31, 2000, for a period not to exceed 90 days
from December 31, 2000."
2. The first sentence of paragraph number four (4) of the APA shall
be deleted and replaced with: "Settlement shall be made on or before March 31,
2001."
BUYER: POWERNOMICS ENTERPRISE CORPORATION
By:____________________________ Witness:_____________________
W. Xxxxxx Xxxxx
SELLER: DEL XXXXX FISHERIES
By:____________________________ Witness:_____________________
Xxxxxxx X. Xxxxxxx
By:____________________________
Xxxxx X. Xxxxxxx
By:____________________________
Xxxxxxxx X. Xxxxx
