CREDIT AGREEMENTCredit Agreement • April 20th, 2010 • Recovery Energy, Inc. • Motor vehicle parts & accessories • Colorado
THIS CREDIT AGREEMENT (together with all Exhibits hereto, and as supplemented, modified, amended or restated from time to time in the manner provided herein, this “Agreement”), dated April 14, 2010 (the “Effective Date”), is by and between RECOVERY ENERGY, INC., a Nevada corporation (“Borrower”), and HEXAGON INVESTMENTS, LLC, a Colorado limited liability company (“Lender”).
MORTGAGE, SECURITY AGREEMENT, ASSIGNMENT OF PRODUCTION AND PROCEEDS, FINANCING STATEMENT AND FIXTURE FILING FROM RECOVERY ENERGY INC. (Taxpayer I.D. No. 74-3231613), AS DEBTOR TO HEXAGON INVESTMENTS, LLC, AS SECURED PARTY Dated as of April 14, 2010Mortgage, Security Agreement • April 20th, 2010 • Recovery Energy, Inc. • Motor vehicle parts & accessories • Wyoming
THIS INSTRUMENT IS TO BE RECORDED IN THE REAL ESTATE RECORDS OF THE COUNTY RECORDER IN EACH COUNTY WHERE THE REAL ESTATE IS LOCATED.
April 14, 2010Recovery Energy, Inc. • April 20th, 2010 • Motor vehicle parts & accessories • Colorado
Reference is made to that certain Credit Agreement, dated January 29, 2010, between Hexagon Investments, LLC (“Hexagon”) and Recovery Energy, Inc., a Nevada corporation (“Borrower”), that certain Credit Agreement, dated March 25, 2010, between Hexagon and Borrower, and that certain Credit Agreement, dated April 14, between Hexagon and Borrower, pursuant to which Hexagon has made loans to Borrower in the aggregate of $25,500,000 (the “Loans”). In connection with making the Loans, Hexagon received a total of 5,000,000 shares of Borrower’s common stock, and as of the date hereof, Hexagon is the largest individual shareholder of Borrower. This letter agreement sets forth the agreement between Hexagon and Borrower, by which Borrower shall grant certain additional rights to Hexagon related to Hexagon’s equity ownership of Borrower. Hexagon and Borrower accordingly agree as follows:
PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • April 20th, 2010 • Recovery Energy, Inc. • Motor vehicle parts & accessories • Colorado
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”), dated effective as of April 1, 2010 at 7:00 a.m. Mountain Time (the “Effective Time”), is between EDWARD MIKE DAVIS, L.L.C., a Nevada limited liability company, 200 Rancho Circle, Las Vegas, Nevada 89107 (“Seller”), and RECOVERY ENERGY, INC., a Nevada corporation, 1515 Wynkoop Street, Suite 200, Denver, Colorado 80202 (“Buyer”). Seller and Buyer are sometimes referred to in this Agreement, collectively, as the “Parties,” and individually, as a “Party.”
