EXHIBIT 10.4
OPTION TO PURCHASE
FORTY (40%) PERCENT
OF
NEWGOLD, INC. AND RIVERFRONT DEVELOPMENT, INC.
THIS "OPTION TO PURCHASE" is made and entered into as of this 31st day
of August, in the year 1995, by and between Xxxxxx Xxxxxx and Xxxxx Xxxxxxx.
UPON PAYMENT OF $50,000.00 to Xxxxx Xxxxxxx, NEWGOLD, INC. and
RIVERFRONT DEVELOPMENT, INC., et al., Xxxxx xxxxxxx, President and sole
stockholder shall grant to Xxxxxx Xxxxxx an OPTION TO PURCHASE forty (40%)
percent of the above described corporations. Said OPTION shall be for a period
of one (1) year.
PURCHASE PRICE SHALL BE: 100% of Washington gulch, Inc. to be
transferred to Newgold, Inc. and the aforementioned $50,000.00 cash.
ANY ADDITIONAL CAPITAL that Xxxxxx Xxxxxx elects to provide to the
above entities shall be secured by a Promissory Note and Deed of Trust on
Riverfront buildings and its real estate, and a UCC Statement on the Lime now
located at Riverfront.
XXXXXX XXXXXX shall use his best efforts to help promote and develop
the above entities, including, but not limited to obtaining permits and
refinancing the Riverfront property.
IT IS UNDERSTOOD that Xxxxx xxxxxxx and Xxxxxx Xxxxxx each shall own
forth (40%) percent of the above mentioned corporations, and twenty (20%)
percent shall be available to distribute to other investors, vendors, or
individuals that Xxxxxx Xxxxxx and Xxxxx Xxxxxxx agree together to giver
percentages to.
IN WITNESS WHEREOF, the parties hereto have executed this OPTION
AGREEMENT as of the dates below written and declare under penalty of perjury
that they have examined the foregoing statements and to the best of their
knowledge and belief it is true, correct and complete.
/s/ Xxxxx Xxxxxxx /s/ Xxxxxx Xxxxxx
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Name: Xxxxx Xxxxxxx Name: Xxxxxx Xxxxxx
Dated: 8/31/95 Dated: 8/31/95
