Note Extension Agreement between Northsight Capital, Inc., John Lemak, and Sandor Capital Master Fund dated December 28, 2017
Northsight Capital, Inc. entered into an agreement with John Lemak (including his IRA rollover) and Sandor Capital Master Fund to extend the maturity date of several promissory notes. Originally set to mature on December 31, 2017, the notes' due date is now extended to March 31, 2018. All other terms of the notes remain unchanged. This agreement ensures that Northsight Capital has additional time to fulfill its repayment obligations to the note holders.
EXTENSION AGREEMENT
(Promissory Notes Maturing 12/31/2017)
THIS AGREEMENT is made effective as of December 28, 2017 and between, Sandor Capital Master Fund. (“Sandor”), John Lemak, and John Lemak (IRA rollover) (together “Lemak”) (each with an address at 2828 Routh St., Suite 500, Dallas, TX 752010 and Northsight Capital, Inc., with an address of 7580 East Gray Rd., Suite 103, Scottsdale, AZ 85264 (the “Borrower”).
RECITALS
WHEREAS, Each of Sandor and Lemak is the holder of certain promissory notes of Borrower (“Notes”), which, as extended, were scheduled to mature December 31, 2017 (See Schedule A for Note details);
WHEREAS, Borrower and Sandor have agreed to extend the Maturity date of the Notes until March 31, 2018; and
AGREEMENT
Now, therefore, the parties hereto, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, agree as follows:
1.Extension of Maturity date of Notes. The maturity date of the Notes is hereby extended until March 31, 2018 (“Maturity Date”). The Notes, except as modified hereby, remain in full force and effect.
The Parties hereto have executed this Agreement as an instrument under seal as of the date written above.
Sandor Capital Master Fund |
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/s/ John Lemak |
| /s/ John Lemak |
John Lemak, duly authorized |
| John Lemak, individually |
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Borrower: |
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Northsight Capital, Inc. |
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/s/ John Venners |
| /s/ John Lemak |
By: John Venners, |
| John Lemak (IRA Rollover) |
EVP Operations |
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SCHEDULE A
Payee |
| Date of Note |
| Principal Amount |
| Current Maturity Date |
John Lemak IRA Rollover |
| 08/01/17 |
| $60,000 |
| 12/31/17 |
John Lemak IRA Rollover |
| 06/29/17 |
| $140,000 |
| 12/31/17 |
John Lemak |
| 04/01/17 |
| $102,465 |
| 12/31/17 |
Sandor Capital Master Fund |
| 04/01/17 |
| $71,097 |
| 12/31/17 |
Sandor Capital Master Fund |
| 04/01/17 |
| $42,374 |
| 12/31/17 |