CONVERTIBLE NOTEUs Natural Gas Corp • May 23rd, 2011 • Crude petroleum & natural gas
FOR VALUE RECEIVED, US Natural Gas Corp a Florida corporation with offices at 1717 Dr. Martin Luther King Jr. St. N, St. Petersburg, Florida 33704 (hereinafter referred to as the “Payor” or the “Company”), agrees to pay to the order of Tangiers Investors, LP, a Delaware limited partnership with offices at 402 W Broadway Ste. 400 San Diego, California 92101 (hereinafter referred to as the “Payee” or “Tangiers”), on the Maturity Date set forth in Article “4” of this Convertible Note (the “Note”), unless earlier accelerated in accordance with the terms of this Note, the principal sum of fifty two thousand five hundred dollars ($52,500) with interest on the aforesaid amount as set forth in Article “2” of this Note.
ContractUs Natural Gas Corp • May 23rd, 2011 • Crude petroleum & natural gas
THIS WARRANT HAS BEEN, AND THE SHARES OF COMMON STOCK WHICH MAY BE PURCHASED PURSUANT TO THE EXERCISE OF THIS WARRANT (THE "SHARES") WILL BE, ACQUIRED SOLELY FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR RESALE IN CONNECTION WITH, ANY DISTRIBUTION THEREOF. NEITHER THIS WARRANT NOR THE SHARES (TOGETHER, THE "SECURITIES") HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH DISPOSITION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE ACT AND OF ANY APPLICABLE STATE SECURITIES LAWS.
SECURITY AGREEMENTSecurity Agreement • May 23rd, 2011 • Us Natural Gas Corp • Crude petroleum & natural gas
AGREEMENT dated as of the 3rd day of May, 2011 by and between Tangiers Investors, LP, with an address at 402 W Broadway, Suite 400, San Diego, California 92101 (the “Secured Party”) and US Natural Gas Corp, a Florida corporation with an address at 1717 Dr. Martin Luther King Jr. St. N, St. Petersburg, Florida 33704 (the “Grantor”).
