OF DAMAGES TO SELLER OCCASIONED BY
SUCH BREACH OR DEFAULT OR FAILURE TO PROCEED BY BUYER WOULD BE IMPOSSIBLE OR
EXTREMELY IMPRACTICABLE TO ASCERTAIN AND THAT THE AMOUNT OF THE EARNEST MONEY
DEPOSIT IS A FAIR AND REASONABLE ESTIMATE OF SUCH DAMAGES UNDER THE
CIRCUMSTANCES.
IF THE PURCHASE AND SALE OF THE ASSETS FAILS TO CLOSE FOR ANY
OTHER REASON, BUYER SHALL BE ENTITLED TO THE IMMEDIATE RETURN OF THE EARNEST
MONEY, THE RECOVERY OF WHICH SHALL BE BUYER'S SOLE REMEDY AGAINST SELLER IN THE
EVENT SELLER FAILS TO COMPLY WITH THIS AGREEMENT.
INITIAL HERE:
SELLER (_____)
BUYER (_____)
IN WITNESS WHEREOF the undersigned parties to this Agreement have executed it as
of the day and year first mentioned above.
SELLER:
SILVER STAR ENERGY, INC,
BUYER: ARCHER EXPLORATION, INC.
a Nevada corporation
a
Nevada corporation
By:
By:_________________________________
Robert McIntosh
John W.
Howe
President
President
3
ASSET SALE AGREEMENT