CONDITIONAL SECURITY AGREEMENTConditional Security Agreement • March 25th, 2008 • Energytec Inc • Crude petroleum & natural gas • Nevada
THIS CONDITIONAL SECURITY AGREEMENT (this “Agreement”) is made this _____ day of March 2008, by Energytec, Inc., a Nevada corporation, (“Debtor”), and _______________________________________ (“Creditor”).
EIGHT PERCENT PROMISSORY NOTEEnergytec Inc • March 25th, 2008 • Crude petroleum & natural gas
FOR VALUE RECEIVED, ENERGYTEC, INC., a Nevada corporation (the “Company”), promises to pay to the order of _______________________ (the “Holder”), at ________________________, or such other place as the Holder may designate from time to time by notice to the Company, in coin or currency of the United States of America that at the time of payment is legal tender for the payment of public and private debts, the principal sum of ____________ Thousand and No/100’s Dollars ($____________). This is one of a series of notes issued by the Company to the plaintiffs in Cause No. 296-00397-07, Oil is Fab & We are Glad LLC, et al v. Energytec, Inc., in the 296th Judicial District Court of Collins County, Texas (the “Settlement Notes”).
