Loan Extension and Modification Agreement between Interlink Plus, Inc. and Desert Skyline Resources, LLC
Interlink Plus, Inc. and Desert Skyline Resources, LLC have agreed to extend the maturity date of a $5,000 loan, originally due on July 15, 2017, to July 31, 2018. The agreement modifies the original promissory note to reflect this new date but keeps all other terms unchanged. Both parties confirm that the original note remains valid and enforceable except for the extended maturity date.
LOAN EXTENSION AGREEMENT
This Loan Extension and Modification Agreement (the Agreement) is dated as of this 31th day of July, 2017, by and between Interlink Plus, Inc., a Nevada corporation (the Company) and Desert Skyline Resources, LLC (DSR).
Terms not otherwise defined herein shall have the meaning ascribed to such terms in the 10% Convertible Promissory Note dated July 15, 2016 in the principal amount of $5,000 (the July Note) (the Note).
WITNESSETH:
WHEREAS, the Borrower obtained a loan from DSR in the principal amount of $5,000 (the Loan);
WHEREAS, the Loan is evidenced by the Note.
WHEREAS, the April Note matured on July 15, 2017;
WHEREAS, the Loan with interest amounted to $500 as of the Maturity Date;
WHEREAS, the Company seeks DSRs consent to modify and extend the Maturity Date to the date specified hereinafter and, in consideration thereof, the Company and DSR have agreed to modify certain terms of the Notes as more fully set forth herein.
NOW, THEREFORE, for valuable consideration, including $10, the receipt and sufficiency of which are hereby acknowledged the Company and DSR agree as follows:
1. Extensions. The Note is amended to extend the Maturity Date from July 15, 2017 to July 31, 2018.
2. Loan Extension Agreement. It is the intention and understanding of the parties hereto that this Agreement shall act as an extension of the Note and that this Agreement shall not act as a novation of such Note.
3. Except as specifically amended hereby, the parties hereto acknowledge and confirm that the Notes remain in full force and effect and enforceable in accordance with their terms.
IN WITNESS WHEREOF, intending to be legally bound, the parties hereto have caused this Agreement to be signed as of the date first written above.
DESERT SKYLINE RESOURCES, LLC
By: /s/ Steven Lane
Title: Steven Lane, Manager
INTERLINK PLUS, INC.
By: /s/ Duan Fu
Title: Duan Fu, CEO