Property Acquisition & Royalty Agreement

Property Acquisition and Royalty Agreement dated _______________, 20___ between ____________ and __________________
Property Acquisition and Royalty Agreement
This agreement ( the Agreement) executedon the ____ day of ________, 20___,
By and Between:
_____________( ____ ) and ___________ ( _____ ) .
Hereinafter referred to collectively as the PARTIES.
This purpose of thisAgreement is for theparties to set the terms of the transaction wherein ______ is acquiring the ________________ Mining Property near __________, described hereinafter inExhibit A. (the Property ).
This transaction has beenthe subject of previous agreements and negotiations. The transaction described in this Agreement will cancel and replace any and all earlier agreements between ______ and ______ and _____ and____________, and/or __________________.
Section I: TERM
This Agreement will terminate at the earlier of the following events; _________ceases to make the required payments, or the Acquisition is completedby __________ paying all the funds as described in the schedule of payments in Section II.
The net smelter return royalty granted to _____ by this agreement is perpetual and has no expiry as long as____ maintains its interest.
Section II: Transaction:
_____ and _____hereby agree that _____ can acquire 100 percent of the Property to acquire 100% of the _______________ Property under the followingterms:
____ will pay ____ $1.5 million CAD under the following payment schedule and grant ______ a Net Smelter return royalty of 3 percent on the production of placer products from the_________________ claim Property. There is to be no partial earn-in under this agreement.
The purchase payments will be made on the following schedule:
| |
By or before January 15, 2011 | $10,000 |
Within 90Days of execution | 40,000 |
Within 6 months of effective date | 50,000 |
Within 12 months of effective date | 100,000 |
Within 18 months of effective date | 100,000 |
Within 24 months of effective...