Document:

Exhibit
      10.1

     

     

    THE
      NOTE
      REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
      AS
      AMENDED (THE “1933 ACT”), OR UNDER THE NOTE LAWS OF CERTAIN STATES.  THIS
      NOTE IS SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE
      TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE 1933 ACT AND APPLICABLE
      STATE NOTE LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. 
INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS
      OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.  THE ISSUER OF THIS
      NOTE MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO
      THE
      ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE
      WITH
      THE 1933 ACT AND ANY APPLICABLE STATE NOTE LAWS.

    

     

    PROMISSORY
      NOTE

     

    Foster
      City, California

     

    
      	
              $200,000.00

            	
              March
                10, 2006

            

    

     

    1. 
Obligation. 
      The undersigned, OXIS International, Inc., a Delaware corporation (“Borrower”)
      hereby
      promises to pay to the order of Steven T. Guillen, (“Lender”
      or “Holder”)
      on the
      earlier of September 10, 2006 or, at the option of the Lender, the date when
      the
      Borrower receives net proceeds in the amount of $500,000 or more from a debt
      or
      equity financing (“Maturity
      Date”),
      the
      principal sum of Two Hundred Thousand Dollars ($200,000.00) together with all
      simple interest accrued on unpaid principal, at a rate equal to seven percent
      (7.0%) per annum, computed on the basis of a year of 365 days from the date
      of
      this Note until the unpaid principal and all interest accrued thereon are paid
      or converted, as provided in Section 5 hereof.  As used herein, the
      term “Holder”
      shall
      initially mean Lender, and shall subsequently mean each person or entity to
      whom
      this Note is duly assigned.

     

    2. 
Prepayment. 
      Prepayment of unpaid principal and/or interest due under this Note may be made
      at any time without penalty.  Unless otherwise agreed in writing by Holder,
      all payments will be made in lawful tender of the United States and will be
      applied (a) first, to the payment of accrued interest, and (b) second, (to
      the
      extent that the amount of such prepayment exceeds the amount of all such accrued
      interest), to the payment of principal.  

     

    3. 
Default;
      Acceleration of Obligation. 
      Borrower will be deemed to be in default under this Note and the outstanding
      unpaid principal balance of this Note, together with all interest accrued
      thereon, will immediately become due and payable in full, without the need
      for
      any further action on the part of Holder, upon the occurrence of any of the
      following events (each an “Event
      of Default”): 
      (a) upon Borrower’s failure to make any payment when due under this Note; 
(b) upon the filing by or against Borrower of any voluntary or involuntary
      petition in bankruptcy or any petition for relief under the federal bankruptcy
      code or any other state or federal law for the relief of debtors; provided,
      however,
      with
      respect to an involuntary petition in bankruptcy, such petition has not been
      dismissed within sixty (60) days after the filing of such petition; or (c)
      upon
      the execution by Borrower of an assignment for the benefit of creditors or
      the
      appointment of a receiver, custodian, trustee or similar party to take
      possession of Borrower’s assets or property.

     

    4. 
Remedies
      On Default; Acceleration. 
      Upon any Event of Default, Holder will have, in addition to its rights and
      remedies under this Note, full recourse against any real, personal, tangible
      or
      intangible assets of Borrower, and may pursue any legal or equitable remedies
      that are available to Holder, and may declare the entire unpaid principal amount
      of this Note and all unpaid accrued interest under this Note to be immediately
      due and payable in full.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5. 
Rollover
      Right.
      At any
      time on or before the Maturity Date, if Borrower enters into an agreement to
      incur debt, Holder may, at Holder’s sole option and discretion, rollover this
      Note into such debt arrangement, on the same terms and conditions offered to
      such future lenders.

     

    6. 
Waiver and Amendment. 
      Any provision of this Note may be amended or modified only by a writing signed
      by both Borrower and Holder.  Except as provided below with respect to
      waivers by Borrower, no waiver or consent with respect to this Note will be
      binding or effective unless it is set forth in writing and signed by the party
      against whom such waiver is asserted.  No course of dealing between
      Borrower and Holder will operate as a waiver or modification of any party’s
      rights or obligations under this Note.  No delay or failure on the part of
      either party in exercising any right or remedy under this Note will operate
      as a
      waiver of such right or any other right.  A waiver given on one occasion
      will not be construed as a bar to, or as a waiver of, any right or remedy on
      any
      future occasion.

     

    7. 
Waivers
      of Borrower. 
      Borrower hereby waives presentment, notice of non-payment, notice of dishonor,
      protest, demand and diligence.  This Note may be amended only by a writing
      executed by Borrower and Holder.  

     

    8. 
Representations
      and Warranty of Holder. 
      Holder hereby represents and warrants to, and agrees with, the Company,
      that:

     

     
      8.1 
Authorization. 
      This
      Note
      constitutes Holder’s valid and legally binding obligation, enforceable in
      accordance with its terms except as may be limited by  (i) applicable
      bankruptcy, insolvency, reorganization or other laws of general application
      relating to or affecting the enforcement of creditors’ rights generally and
      (ii) the effect of rules of law governing the availability of equitable
      remedies.  Holder represents that Holder has full power and authority to
      enter into this Note.

     

     
      8.2 
Purchase
      for Own Account.  Holder
      is being acquired for investment for Holder’s own account, not as a nominee or
      agent, and not with a view to the public resale or distribution thereof within
      the meaning of the 1933 Act, and Holder has no present intention of selling,
      granting any participation in, or otherwise distributing the same.

     

     
      8.3 
Disclosure
      of Information. 
      Holder has received or has had full access to all the information he considers
      necessary or appropriate to make an informed investment decision with respect
      to
      the Note.  Holder further has had an opportunity to ask questions and
      receive answers from the Borrower regarding the terms and conditions of the
      offering of the Note and to obtain additional information (to the extent the
      Borrower possessed such information or could acquire it without unreasonable
      effort or expense) necessary to verify any information furnished to Holder
      or to
      which Holder had access.  

     

     
      8.4 
Investment
      Experience. 
      Holder understands that the purchase of the Note involves substantial
      risk.  Holder (i) has experience as an investor in securities of
      companies and acknowledges that Holder is able to fend for itself, can bear
      the
      economic risk of Holder’s investment in the Note and has such knowledge and
      experience in financial or business matters that Holder is capable of evaluating
      the merits and risks of this investment in the Note and protecting his own
      interests in connection with this investment and/or (ii) has a preexisting
      personal or business relationship with the Borrower and certain of its officers,
      directors or controlling persons of a nature and duration that enables Holder
      to
      be aware of the character, business acumen and financial circumstances of such
      persons.

     

     
      8.5 
Accredited
      Investor Status. 
      Holder is an “accredited investor” within the meaning of Regulation D
      promulgated under the 1933 Act.

     

     
      8.6 
Restricted
      Security.  Holder
      understands that the Note is characterized as a “restricted security” under the
      1933 Act and Rule 144 promulgated thereunder inasmuch as they are being
      acquired from the Borrower in a transaction not involving a public offering,
      and
      that under the 1933 Act and applicable regulations thereunder such Note may
      be
      resold without registration under the 1933 Act only in certain limited
      circumstances.  In this connection, Holder is familiar with Rule 144,
      as presently in effect, and understands the resale limitations imposed thereby
      and by the 1933 Act.  Holder understands that the Borrower is under no
      obligation to register the Note.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     
      8.7 
No
      Solicitation.  At
      no
      time was Holder presented with or solicited by any publicly issued or circulated
      newspaper, mail, radio, television or other form of general advertising or
      solicitation in connection with the offer, sale and purchase of the
      Note.

     

     
      8.8 
Further
      Limitations on Disposition. 
      Without in any way limiting the representations set forth above, Holder further
      agrees not to make any disposition of the Note unless and until:

     

     
      (a) 
there
      is
      then in effect a registration statement under the 1933 Act covering such
      proposed disposition and such disposition is made in accordance with such
      registration statement; or

     

     
      (b) 
Holder
      shall have notified the Borrower of the proposed disposition, and shall have
      furnished the Borrower with a statement of the circumstances surrounding the
      proposed disposition, and, at the expense of Holder or its transferee, with
      an
      opinion of counsel, reasonably satisfactory to the Borrower, that such
      disposition will not require registration of such Note under the 1933
      Act.

     

    Notwithstanding
      the provisions of paragraphs (a) and (b) above, no such registration statement
      or opinion of counsel shall be required:  (i) for any transfer of the
      Note in compliance with Rule 144 or Rule 144A; (ii) for any
      transfer of any Note by a Holder that is a partnership or a corporation to
      (A) a partner of such partnership or shareholder of such corporation,
      (B) a controlled affiliate of such partnership or corporation, (C) a
      retired partner of such partnership who retires after the date hereof,
      (D) the estate of any such partner or shareholder; or (iii) for the
      transfer by gift, will or in testate succession by any Holder to his or her
      spouse or lineal descendants or ancestors or any trust for any of the foregoing;
      provided that in each of the foregoing cases the transferee agrees in writing
      to
      be subject to the terms of this Section 8 to the same extent as if the
      transferee were an original Holder hereunder.

     

    9. 
Governing
      Law. This
      Note will be governed by and construed in accordance with the internal laws
      of
      the State of California as applied to agreements between residents thereof
      to be
      performed entirely within such State, without reference to that body of law
      relating to conflict of laws or choice of law. 

     

    10. 
Severability; Headings. 
      The invalidity or unenforceability of any term or provision of this Note will
      not affect the validity or enforceability of any other term or provision
      hereof.  The headings in this Note are for convenience of reference only
      and will not alter or otherwise affect the meaning of this Note.

     

    11. 
Jurisdiction;
      Venue. 
      Borrower, by its execution of this Note, hereby irrevocably submits to the
in personam
      jurisdiction of the state courts of the State of California for the purpose
      of
      any suit, action or other proceeding arising out of or based upon this
      Note.

     

    12. 
Attorneys’
      Fees. 
If
      suit is brought for collection of this Note, Borrower agrees to pay all
      reasonable expenses, including attorneys’ fees, incurred by Holder in connection
      therewith whether or not such suit is prosecuted to judgment.

     

    13. 
Assignment. 
      This Note is freely transferable and assignable by Holder, provided that such
      transfer is made in compliance with all applicable state and federal Note
      laws.  Any reference to Holder herein will be deemed to refer to any
      subsequent transferee of this Note at such time as such transferee holds this
      Note.   This Note may not be assigned or delegated by Borrower,
      whether by voluntary assignment or transfer, operation of law, merger or
      otherwise.  

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    IN
      WITNESS WHEREOF, Borrower has executed this Note as of the date and year first
      above written.

     

    
      	
               

            	
               

            	
               

            	
               

            	
              BORROWER:

            
	
               

            	
               

            	
               

            	
               

            	
               

            
	 	 	 	 	 
	
              Agreed
                to and Acknowledged by:

            	
               

            	
              OXIS
                International, Inc.

            
	
               

            	
               

            	
              a
                Delaware corporation

            
	
               

              LENDER:

            	
               

               

               

            	
               

               

               

            
	
              
                By:

              

            	
               

               

               

            	
              /s/
                Steven T. Guillen

            	
               

               

               

            	
              By:

            	
               

               

               

            	
              /s/
                Michael D. Centron

            
	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            
	
              Name:

            	
               

            	
              Steven
                T. Guillen

            	
               

            	
              Name:

            	
               

            	
              Michael
                D. Centron

            
	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            	
               

               

               

            
	
              Title:

            	
               

            	
              President
                and Chief Executive Officer

            	
               

            	
              Title:

            	
               

            	
              Vice
                President, Chief Financial
                OfficerMEMORANDUM OF UNDERSTANDING

      This confidential  Memorandum of Understanding  ("MOU") is entered into on
this day of March, 2006 by and between Sundial Resources,  Inc. ("Sundial"),  HC
60, Box 331,  Graham,  Texas  76450,  Ty  McDermett  and Andrew  McDermett,  Jr.
("McDermetts")  and Universal Property  Development and Acquisition  Corporation
("UPDA"), 14255 US Highway 1, Suite 209, Juno Beach, FL 33408.

                                    RECITALS

      WHEREAS, Sundial is actively engaged directly and/or through associates in
the Energy related Project Business  Development and the ownership,  management,
engineering, procurement,  construction,  installation, operation, and plant and
facility maintenance of oil and gas wells and facilities.  Key to the success of
Sundial and its  associates  is their  capability,  experience,  qualifications,
technologies, market and industry relationships, key industry strategic alliance
partners  and their  abilities  to  identify  attractive  business  and  project
development  opportunities  with  great  upside  potential  which are in need of
funding.

      WHEREAS,  UPDA is a public  company  engaged in the  project  funding  and
business  development,  with the ability to fund  business  development  through
formation of joint  ventures or strategic  alliances for its own account as well
as serving independent clients.

      NOW,  THEREFORE,  Sundial,  McDermetts and UPDA are desirous to enter into
this  MOU  in  joining  forces  as  strategic   alliance  partners  through  the
establishment of a "C" corporation.  The new corporation will be incorporated in
the State of  Nevada  whereas  UPDA  will own  Seventy  Five  percent  (75%) and
McDermetts  will own Twenty five  percent  (25%) of the interest in the said new
corporation.  In  consideration  of these  respective  interests,  Sundial shall
assign to the new  corporation  all of its right,  title and  interest in and to
those certain leases known as Threasher,  Medlin, Nantz, Wiechman and the wells,
personal  property and equipment  located  thereon and UPDA shall pay to Sundial
the sum of One Hundred Thousand Dollars  ($100,000.00).  All parties acknowledge
that their  ownership  interests shall be fully dilutible on a pari passu basis,
with percentage  ownership  remaining the same subject to dilution.  All parties
specifically  acknowledge the receipt and sufficiency of the  consideration  set
forth herein.

                                   AGREEMENTS

      The parties  agree that the  foundation  of this MOU and the impending new
corporation is based on the following principles:

<PAGE>

      A. The  purpose of a new  corporation  enables  the  Parties  together  to
explore the business development and funding  opportunities in various endeavors
with each party  retaining  its own  separate  identity,  operation,  ownership,
organization, and relationships.

      B. The new  corporation  shall  not  preclude  any party  from  separately
pursuing other business  opportunities,  joint ventures, and strategic alliances
with  other  parties  so  long  as the  confidentiality  obligations  undertaken
hereunder are not breached.

      C.  The  Parties  agree  that  the  formation,  identity,   organizational
structure,  and  by-laws  of the said new  corporation  shall  be  decided  on a
separate accord by and between the Parties.  However, the parties have agreed to
form a new corporation domiciled in the State of Nevada.

      D. Each  party has the right to  assign  its  respective  stock in the new
corporation to other entities that the party owns or controls.  Any reassignment
or sale of the new  corporation  stock to an entity that the said party does not
own or control must be approved by unanimous  consent of all stockholders of the
new  corporation  and the existing  shareholders  must be given a right of first
refusal  to  purchase  the  respective  share of the  selling  partner  and such
transfer of title and or ownership  will not diminish in any way the  privileges
or rights of any party to this Agreement.

      E. The parties  desire to exchange  certain  proprietary  or  confidential
information  for the purpose of exploring  potential  business  development  and
funding  opportunities,  which shall be held in strict confidence and not shared
with third parties,  unless written permission is granted by the granting/giving
party.

      F. The parties are willing to provide such information for such purpose in
accordance with the terms hereof.

      G. Upon  execution  of this MOU and  pursuant  to its  terms,  UPDA  shall
establish on behalf of the parties a new  corporation  domiciled in the state of
Nevada.

      H.  UPDA  shall  provide  the  sum  of  Four  Hundred   Thousand   Dollars
($400,000.00)  to the new  corporation  which  sum  shall  represent  the  total
consideration  due for UPDA's  above-referenced  interest in the new corporation
and the amount  estimated by Sundial to be necessary  for the  completion of the
work  contemplated  by this MOU,  such sums  including  but not  limited  to the
purchase and/or lease and  installation of all necessary  equipment,  site work,
well  workover,  retention  of a Certified  Petroleum  Landman,  all general and
administrative and travel and any and all other expenses until such time as said
work has been completed.

<PAGE>

      I. Any additional funds necessary for the completion of said work shall be
contributed by the parties in conformance with their respective interests in the
new  corporation  as set forth above.  Should  either party be either  unable or
unwilling to make such additional contributions then the other party may, in its
sole  discretion,  make such additional  contributions in which event, the party
electing  to make  such  additional  contribution  shall  receive  an  increased
interest in the new corporation in conformance therewith.

      J. The parties  agree that all funds  provided by UPDA shall be reimbursed
to UPDA from the first net revenues generated from the target area. Net revenues
shall equal gross revenues less royalties,  utilities, management fees and other
necessary costs  associated with the day-to-day  operation of the business.  All
expenditures in excess of five thousand dollars must be approved by UPDA and all
payments of any amount shall be issued by UPDA's accountants.

      K. After  completion of the work  contemplated by this MOU,  Sundial shall
act as manager and operator of the wells and/or leases.  A  Management/Operating
Agreement  shall be negotiated  and executed by and between the new  corporation
and Sundial  providing  that,  as on site  managers,  Sundial  shall  receive an
ongoing  management fee of Five percent (5%) of gross  revenues,  less royalties
and utilities, for the operation of the wells after they are brought on line. It
is further agreed that the new corporation  shall employ UPDA's  accountants for
all  bookkeeping/financial  record-keeping  and that UPDA shall be  entitled  to
audit the books and records of the new corporation at its reasonable convenience
or as required by statute or regulation  or as requested by UPDA's  accountants.
All specific terms and conditions  consistent  herewith will be set forth in the
operating agreement and/or other appropriate  contracts.  Upon execution of this
MOU,  Sundial  shall  submit a proposed  Operating  Agreement  for review by the
parties.

      L. The parties  hereby agree a three (3) member board will be appointed to
oversee the new  corporation.  Two (2) directors will be chosen by UPDA, and one
(1) will be chosen by Sundial.

                            CONFIDENTIAL INFORMATION

1.  "Confidential  Information"  shall  mean  all  confidential  or  proprietary
written,  recorded,  electronic or oral  information or data (including  without
limitation  research,  developmental,   engineering  manufacturing,   technical,
marketing, sales, financial, operating,  performance, cost, business and process
information or data,  know-how,  and computer programming and other software and
software  techniques)  provided  (whether such  confidentiality  or  proprietary
status is indicated orally, or whether or not the specific words  "confidential"
or "proprietary" are used) to a Party(s) (the "Receiving Party(s)") by the other
Party  (the  "Disclosing  Party(s)")  in the  course  of the  exchange  of  such
information or data between the Parties. The Confidential Information shall also
without limitation include specific business  transaction  opportunity  specific
funding, credit enhancement,  contacts, buyers, sellers, investors, and or joint
venture partners ("Sources").

<PAGE>

      A. "Party" shall include any of the Party's subsidiaries or affiliates.

      B. "Person" shall be broadly  interpreted to include,  without limitation,
any corporation, company, partnership, other identity or individual.

      C.  "Representatives"  shall  mean,  as  to  any  Person,  its  directors,
officers,  employees,  agents  and  advisors  (including,   without  limitation,
financial advisors, attorneys and accountants).

2.  Confidentiality  and Non-Use. In any consideration of each Party's providing
Confidential Information, the Parties agree as follows:

      A. The Receiving  Party(s) shall hold confidential and not disclose to any
Person  without  prior  written   consent  of  the  Disclosing   Party(s),   all
Confidential Information and any information about the Proposed Transaction,  or
the terms or conditions or any other facts relating thereto, including,  without
limitation,  the fact that  discussions are taking place with respect thereto or
the status  thereof,  or the fact that  Confidential  Information  has been made
available to the Receiving Party(s) or its  Representatives;  provided,  however
that the Receiving  Party(s) may disclose such  Confidential  Information to its
Representatives who are actively and directly participating in its evaluation of
the Proposed transaction or otherwise need to know the Confidential  Information
for the purpose of evaluating the Proposed Transactions;

      B. The Receiving  Party(s) shall cause all its  Representatives to observe
the terms of this MOU and shall be  responsible  for any  breach of the terms of
this MOU by it or its Representatives; and

      C. The  Receiving  Party(s)  shall  return  or  destroy  all  Confidential
Information  (including  all  copies  thereof)  within 30 days of  receipt  of a
written request therefore by the Disclosing Party(s).

3. In addition to the forgoing,  each of the Receiving Party(s) will not use the
Confidential  Information  for any  purpose  other than in  connection  with the
Proposed Transaction between the Parties.

4. Exceptions to the  Confidentiality and Non-Use  Obligations.  The obligations
imposed by Section 2 hereof  shall not apply,  or shall  cease to apply,  to any
Confidential  Information  if or  when,  but  only  to  the  extent  that,  such
Confidential Information:

<PAGE>

      A. Was  known  to the  Receiving  Party(s)  prior  to the  receipt  of the
Confidential Information hereunder; or

      B.  Was,  or  becomes,   through  no  breach  of  the  Receiving  Party(s)
obligations hereunder, known to the public; or

      C. Becomes  known to the  Receiving  Party(s)  from sources other than the
Disclosing  Party(s)  under  circumstances  not  involving  any  breach  of  any
confidentiality obligation; or

      D. Is independently  developed by the Receiving Party(s),  as evidenced by
the written records thereof.

      It shall not be a breach of the  confidentiality  obligations hereof for a
Receiving Party(s) to disclose  Confidential  Information where, but only to the
extent that,  such  disclosure is required by law or applicable  legal  process,
and/or the course of conduct of ordinary business of the new corporation for the
mutual benefits on a need to know basis.

                            MISCELLANEOUS PROVISIONS

1.    No   Representations   and   Warranties.   The  Parties   hereby  make  no
      representations  or  warranties,  express or  implied,  of any kind to the
      other  Party  with  respect  to the  Confidential  Information,  including
      without  limitation  with the  respect  to the  accuracy  or  completeness
      thereof.  Notwithstanding  the foregoing the Parties  hereby  warrant that
      their  representations  made herein and within the related  materials  and
      their execution of the within is made in good faith.

2.    Termination;  Duration of Obligations.  Unless sooner terminated by mutual
      written  agreement  of  the  Parties  hereto  or  by  integration  into  a
      definitive  joint venture  agreement  and creation of the new  corporation
      contemplated  hereby,  this  MOU  and  the  obligations   hereunder  shall
      terminate five years from the date hereof. Notwithstanding anything to the
      contrary,  in the  event  that  UPDA is  unable  to  provide  the funds as
      outlined  in the  paragraph  G  above,  then  this  MOU  shall  terminate,
      releasing the Parties from any and all conditions outlined herein,  unless
      extended in writing by the Parties.

3.    Waivers;  Amendments;  Assignment;  Counterparts.  This  MOU  may  not  be
      modified,  amended or waived except by a written  instrument duly executed
      by all Parties.  No failure or delay by any Party in exercising any right,
      power or privilege hereunder shall operate as a waiver thereof,  nor shall
      any  single or  partial  exercise  thereof  preclude  any other or further
      exercise  thereof  or  the  exercise  of any  right,  power  or  privilege
      hereunder.  This MOU may not be assigned without the prior written consent
      of the others and the MOU shall be  binding  on, and inure to the  benefit
      of, the  respective  successors  of the  Parties  hereto.  This MOU may be
      signed  in  two  or  more  counterpart  originals,  each  of  which  shall
      constitute an original document.

<PAGE>

4.    Governing  Law;  Disputes.  This  MOU is  made  subject  to and  shall  be
      construed under the laws of the State of Nevada,  without giving effect to
      its principles or rules regarding conflict laws.

5.    Remedies. Without prejudice to the rights and remedies otherwise available
      to the Parties, each Party shall be entitled to equitable relief by way of
      injunction  or  otherwise  if  the  Receiving   Party(s)  or  any  of  its
      Representatives breach or threaten to breach any of the provisions of this
      MOU and the  Receiving  Party(s)  shall not plead in defense  thereto that
      there would be an adequate remedy at law.

6.    Entire MOU.  This MOU together  with all  aforementioned  Attachments  and
      Exhibits   represents  the  entire  Agreement   between  the  Parties  and
      supersedes all prior  communications,  agreements  and  discussions by and
      between the  Parties;  this MOU is the  understanding  between the Parties
      relating to the subject matter hereof.

            IN WITNESS  WHEREOF,  each of the  Parties has caused this MOU to be
executed by their respective,  fully authorized  representatives  as of the date
first written above.

Universal Property Development and Acquisition Corporation

By:
    --------------------------------------
     Kamal Abdallah, CEO, COO

Sundial Resources, Inc.

By:
    --------------------------------------
     David Barrett, its
                        ------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]