Promissory Note Extension Agreement between Eastern Resources, Inc. and Black Diamond Holdings, LLC
Eastern Resources, Inc. and Black Diamond Holdings, LLC have agreed to extend the due date of a $150,000 promissory note, originally due on September 30, 2012, to May 31, 2013. The note continues to accrue interest at 6% per year, and all other terms of the original agreement remain unchanged. This extension is formalized by both parties' signatures.
PROMISSORY NOTE - EXTENSION
Date: October 18, 2012
On September 6, 2012, the undersigned, EASTERN RESOURCES, INC (“Maker”) promised to pay to the order of BLACK DIAMOND HOLDINGS, LLC, (the "Holder"), the principal sum of ONE HUNDRED AND FIFTY THOUSAND, (US $150,000), with interest accruing on the outstanding principal amount of the Note at an annual rate of six percent (6.0%) until the Note is paid in full. The Note has a due date of September 30, 2012.
The Maker and the Holder have agreed to extend the due date of the Promissory Note to May 31, 2013. All of the other terms incorporated in the original Promissory Note remain unchanged.
IN WITNESS WHEREOF, Holder and Maker has executed and delivered this Promissory Note Extension on the date first above written.
| Eastern Resources, Inc. | |
| By: Robert Trenaman | |
| Title: President | |
| Address of Maker: | |
| 1610 Wynkoop Street, Suite 400 | |
| Denver, CO 80202 | |
| ACCPTED BY BLACK DIAMOND HOLDINGS, LLC | |
| By: Patrick Imeson | |
| Title: Manager | |
| Address of Holder: | |
| 1610 Wynkoop Street, Suite 400 | |
| Denver, CO 80202 |
