ex1012.htm


    
      Exhibit
10.12

    

    
      


       Promissory
Note

    

    
      


       

      On this
date of July 1, 2008, in return for valuable consideration received, the
undersigned borrower, Advanced Mineral Technologies, Inc. (“AMTO”), jointly and
severally promise to pay to H. Philip Cash, the "Lender", the sum of Thirty Five
Thousand Dollars ($35,000), together with interest thereon at the rate of Seven
Point Five percent (7.5%) per annum.

       

       

      Payable On Demand: The entire
unpaid principal and accrued interest thereon, if any, shall become immediately
due and payable on demand by the holder of this Note.

       

       

      Place of Payment - all
payments due under this note shall be made at Fairfield, ID, or at such other
place as the holder of this Note may designate in writing.

       

       

      Prepayment - This Note may be
prepaid in whole or in part at any time without premium or penalty. All
prepayments shall first be applied to interest, and then to principal payments
in the order of their maturity.

       

       

      


       

       

      Default - In the event of
default, the borrower[s] agree to pay all costs and expenses incurred by the
Lender, including all reasonable attorney fees (including both hourly and
contingent attorney fees as permitted by law) for the collection of this Note
upon default, and including reasonable collection charges (including, where
consistent with industry practices, a collection charge set as a percentage of
the outstanding balance of this Note) should collection be referred to a
collection agency.

       

       

      


       

       

      Acceleration of Debt - In the
event that the borrower[s] fail to make any payment due under the terms of this
Note, or breach any condition relating to any security, security agreement,
note, mortgage or lien granted as collateral security for this Note, seeks
relief under the Bankruptcy Code, or suffers an involuntary petition in
bankruptcy or receivership not vacated within thirty (30) days, the entire
balance of this Note and any interest accrued thereon shall be immediately due
and payable to the holder of this Note.

       

       

      Joint and Several Liability -
All borrowers identified in this Note shall be jointly and severally liable for
any debts secured by this Note.

       

       

      Modification - No modification
or waiver of any of the terms of this Agreement shall be allowed unless by
written agreement signed by both parties. No waiver of any breach or default
hereunder shall be deemed a waiver of any subsequent breach or default of the
same or similar nature.

       

       

      Transfer of the Note - The
borrowers hereby waive any notice of the transfer of this Note by the Lender or
by any subsequent holder of this Note, agree to remain bound by the terms of
this Note subsequent to any transfer, and agree that the terms of this Note may
be fully enforced by any subsequent holder of this Note.

       

       

      Severability of Provisions -
In the event that any portion of this Note is deemed unenforceable, all other
provisions of this Note shall remain in full force and effect.

       

       

      Choice of Law - All terms and
conditions of this Note shall be interpreted under the laws of
Idaho.

       

       

      


       

       

      Signed
Under Penalty of Perjury, this 1st  day
of July, 2008,

       

       

      


      /s/ Bil
Zeleny                                                             

    

    
      Bil
Zeleny

      CFO

      Advanced
Mineral Technologies, Inc.