JOINT VENTURE AGREEMENT - AMENDMENT NO. 1
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THIS AGREEMENT made as of the 17th day of December, 2002.
BETWEEN:
XXXXX X. XXXXXX, of XX Xxx 000, Xxxxxxxx, XX, Xxxxxx
(the "Operator")
OF THE FIRST PART
AND:
BAYMONT EXPLORATIONS INC., of
0000 Xxxx Xxxx, Xxxxx Xxxxxxxxx, XX, X0X 0X0
("Baymont")
OF THE SECOND PART
WHEREAS:
A. The parties entered into a joint venture agreement dated December 28, 2001
(the "Agreement");
B. Due to weather conditions the Operator will not be able to complete the
current work programs on the Property until after the melting of winter
snows in the spring of 2003;
C. The parties have agreed to amend the Agreement to extend the date for
completion of the first $12,000 US expenditure by Baymont.
NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the mutual
covenants and conditions herein contained and in consideration of the sum of
$1.00 US paid by each of the parties hereto to each other (the receipt of which
is hereby acknowledged) the parties have agreed and do hereby agree as follows:
1. The Agreement is hereby amended by extending the date for completion of
the initial program by Baymont as set out in paragraph 7.04 of the Agreement
from December 31, 2002 to June 30, 2003.
2
2. The Agreement is deemed to have been amended as of the day and year
first above written and, in all other respects, save and except as herein
provided, the Agreement is hereby confirmed.
3. This Agreement may be executed in counterparts which together shall
form one and the same instrument.
IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day
and year first above written.
SIGNED, SEALED AND DELIVERED )
BY XXXXX X. XXXXXX )
in the presence of: )
)
/s/ X. X. Xxxxxxxx ) /s/ Xxxxx X. Xxxxxx
----------------------------- ) ---------------------------
Signature ) Xxxxx X. Xxxxxx
X. X. Xxxxxxxx )
----------------------------- )
Name )
Xxx 0000 )
----------------------------- )
Address )
Xxxxxxxx, X.X. )
----------------------------- )
V0J 2N0
)
THE COMMON SEAL OF )
BAYMONT EXPLORATIONS INC. )
hereunto affixed in the presence ) c/s
of: )
)
)
/s/ Xxxxxxx X. Xx Xxxxxxxx )
----------------------------- )
Authorized Signatory )
