Amendment to Promissory Note between Queensridge Mining Resources, Inc. and The Stromer Family, PKS Trust (April 24, 2013)

Contract Categories: Business Finance › Modification Agreements
Summary

Queensridge Mining Resources, Inc. and The Stromer Family, PKS Trust have agreed to extend the due date of a $10,000 promissory note originally due on April 24, 2013. The new due date is April 24, 2015. Interest will continue to accrue at the original rate, and all other terms of the note remain unchanged. This amendment is effective as of April 24, 2013.

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EX-10.7 3 ex10_7.htm EX10_7

AMENDMENT TO PROMISSORY NOTE DATED APRIL 24, 2011

 

WHEREAS, Queensridge Mining Resources, Inc., a Nevada corporation, (“Maker”) has issued a Promissory Note dated April 24, 2011 in the amount of $10,000 (the “Note”) to The Stromer Family, PKS Trust (“Holder”); and

 

WHEREAS, all principal and interest owing under the Note was originally due and payable on or before April 24, 2013; and

 

WHEREAS, Maker and Holder desire to extend the due date of the Note for an additional two (2) years,

 

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

 

  1. Effective as of April 24, 2013, the final due date of the Note is extended to April 24, 2015.

 

  1. Interest shall continue to accrue under the Note at the rate set forth therein, and all other terms of the Note not specifically modified by this Amendment shall remain in full force and effect.

 

Queensridge Mining Resources, Inc.
 
By: /s/ Phillip Stromer
       Phillip Stromer, President and CEO
 
 
The Stromer Family, PKS Trust
 
 
By: /s/ Phillip Stromer
      Phillip Stromer