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EXHIBIT 10.6
Lease Amendment
FOOTHILLS RESOURCES, INC.
0 Xxxxxxx Xxxxx Xxxxxx
Xxxxxx, Xxxxxxx
January 1, 2004
Xx. Xxxx Xxxxx
Dear Sir:
Re: TC Claims, White Pine County, Nevada - Mineral Claims Lease
We hereby confirm our agreement to amend our Lease Agreement dated effective
March 1, 2001, as amended, by replacing paragraph 5 of the original agreement
with the following:
"5. Schedule of Minimum Payments. The Lessee shall pay to the Lessor minimum
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payments, which shall be advance payments of the Royalty, of US$2,000 upon
execution of this amended lease agreement. The Lessee may extend this lease upon
payment of the following:
1. Pay Lessor an additional US$5,000 by July 1, 2004;
2. Pay Lessor an additional US$10,000 by January 1, 2005; and
3. Each annual payment thereafter shall be US$50,000 plus an annual
increase or decrease equivalent to the rate of inflation designated by
the Consumer's Price Index for that year with execution year as base
year. Each such payment shall be made by January 1 of each successive
year of the lease."
If the foregoing accurately sets forth your understanding of our agreement,
kindly sign this Agreement where indicated below, which will then form a binding
agreement between us, subject only to the terms and conditions aforesaid.
Yours truly,
FOOTHILLS RESOURCES, INC.
PER: /s/ J. Xxxx Xxxxxx Agreed and accepted on
January 1, 2004
J. XXXX XXXXXX
President
/s/ Xxxx Xxxxx
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Xxxx Xxxxx
