MEXORO GENERAL SECURITY AGREEMENTMexoro General Security Agreement • April 8th, 2009 • Mexoro Minerals LTD • Gold and silver ores • New York
SECURITY AGREEMENT (this “Agreement”), dated as of March 25, 2009, between MEXORO MINERALS LTD. (“Borrower”), a Colorado corporation, and each lender identified on the signature pages hereto (each, including its successors and assigns, a “Lender” and collectively the “Lenders”). The Lender and Borrower are concurrently entering into a financing transaction pursuant to which Borrower will issue to Lender its Secured Convertible Debenture, dated as of even date herewith, (as amended, modified or supplemented from time to time in accordance with its terms, the (“Debenture”) pursuant to which the Lender will make a loan to the Borrower in the Principal Amount (as such term is defined in the Debenture) pursuant to, and subject to the terms and conditions thereof.
