Document:

ex10-28.htm

     

     

    THIRD
AMENDMENT TO REVOLVING LOAN CREDIT AGREEMENT

     

    THIS
THIRD AMENDMENT TO REVOLVING LOAN CREDIT AGREEMENT (this “Amendment”) is
entered into as of this ___ day of May, 2009, by and
among GALLARUS MEDIA HOLDINGS, INC., a Delaware corporation (“Holdings”), NETWORK
COMMUNICATIONS, INC., a Georgia corporation (the “Borrower”), the
Lenders (as defined below) signatory hereto and TORONTO DOMINION (TEXAS) LLC
(the “Administrative
Agent”), as Administrative Agent for the Lenders.

     

    WHEREAS,
Holdings, the Borrower, the Lenders party thereto (the “Lenders”) and the
Administrative Agent are all parties to that certain Revolving Loan Credit
Agreement dated as of July 20, 2007 as amended by that certain First Amendment
to Revolving Loan Credit Agreement dated as of June 10, 2008 and that certain
Second Amendment to Revolving Loan Credit Agreement dated as of December 4, 2008
(as so amended and as may be further amended, modified, supplemented or
restated, the “Credit
Agreement”); and

     

    WHEREAS,
the Borrower has requested, and the Lenders have agreed, subject to the terms
hereof, to amend the Credit Agreement as more fully set forth
herein;

     

    NOW,
THEREFORE, in consideration of the premises set forth above, the covenants and
agreements hereinafter set forth, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree that all capitalized terms used and not defined herein shall have the
meanings ascribed thereto in the Credit Agreement, and further agree as
follows:

     

    1. Amendment to Section
1.01.  Section 1.01 of the Credit Agreement, is hereby amended
by deleting the chart in the definition of “Applicable
Percentage” in its entirety and by substituting in lieu thereof the
following:

     

    
      	
              Senior
      Secured Leverage Ratio

            	
              Eurodollar
      Spread

            	
              ABR
      Spread

            
	
              Category 1

              Greater
      than or equal to 1.75 to 1.00

            	
              3.50%

            	
              2.50%

            
	
              Category 2

              Greater
      than or equal to 1.25 to 1.00, but less than 1.75 to 1.00

            	
              3.25%

            	
              2.25%

            
	
              Category 3

              Greater
      than or equal to 0.75 to 1.00, but less than 1.25 to 1.00

            	
              3.00%

            	
              2.00%

            
	
              Category 4

              Less
      than 0.75 to 1.00

            	
              2.75%

            	
              1.75%

            

    

    

     

    2. Amendment to Section
2.05.  Section 2.05 of the Credit Agreement, Fees, is
hereby amended by deleting subsection (a) of such Section in its entirety and by
substituting in lieu thereof the following:

     

    (a)           The
Borrower agrees to pay to each Revolving Credit Lender, through the
Administrative Agent, on the last Business Day of March, June, September and
December in each year and on each date on which any Revolving Credit Commitment
of such Revolving Credit Lender shall expire or be terminated as provided
herein, a commitment fee (a “Commitment
Fee”) equal to 0.75% per annum on the daily unused amount of the
Revolving Credit Commitment of such Revolving Credit Lender during the preceding
quarter (or other period commencing with the date hereof or ending with the
Maturity Date or the date on which the Revolving Credit Commitments of such
Revolving Credit Lender shall expire or be terminated).  All
Commitment Fees shall be computed on the basis of the actual number of days
elapsed in a year of 360 days.  For purposes of calculating Commitment
Fees only, no portion of the Revolving Credit Commitments shall be deemed
utilized as a result of outstanding Swingline Loans.

     

    3. Amendments to Article
6.

     

    (a) Amendment to Section
6.10.  Section 6.10 of the Credit Agreement, Capital
Expenditures, is hereby amended by deleting subsection (a) of such
Section in its entirety and by substituting in lieu thereof the
following:

     

    (a)           Permit
the aggregate amount of Capital Expenditures made by the Borrower and the
Subsidiaries to exceed $6,000,000 in any Annual Reporting Period.  The
amount of permitted Capital Expenditures set forth above in respect of any
Annual Reporting Period commencing with the Annual Reporting Period ending on or
about March 23, 2008, shall be increased by (a) the amount of unused
permitted Capital Expenditures for the immediately preceding Annual Reporting
Period less (b) an amount equal to unused Capital Expenditures carried
forward to such preceding Annual Reporting Period.

     

    (b) Amendment to Section
6.11.  Section 6.11 of the Credit Agreement, Interest Coverage
Ratio, is hereby amended by deleting such Section in its entirety and by
substituting in lieu thereof the following:

     

    SECTION
6.11.                                           Interest Coverage
Ratio.  Permit the Interest Coverage Ratio for any period of
four consecutive Quarterly Reporting Periods, in each case taken as one
accounting period, ending on a date or during any period set forth below to be
less than the ratio set forth opposite such date or period below:

     

    
      	
              Date
      or Period

            	
              Ratio

            
	
              The
      first day of the Quarterly Reporting Period ending on or about
      June 23, 2008 through the last day of the Quarterly Reporting Period
      ending on or about March 29, 2009

            	
              1.50
      to 1.00

            
	
              The
      first day of the Quarterly Reporting Period ending on or about
      June 21, 2009 through the last day of the Quarterly Reporting Period
      ending on or about March 28, 2010

            	
              1.10
      to 1.00

            
	
              Thereafter

            	
              1.25
      to 1.00

            

    

    

     

    (c) Amendment to Section
6.12.  Section 6.12 of the Credit Agreement, Maximum Senior
Leverage Ratio, is hereby amended by deleting such Section in its
entirety and by substituting in lieu thereof the following:

     

    SECTION
6.12.                                           Maximum Senior
Leverage Ratio.  Permit the Senior Secured Leverage Ratio for
any period of four consecutive Quarterly Reporting Periods, in each case taken
as one accounting period, ending on a date or during any period set forth below
to be greater than the ratio set forth opposite such date or period
below:

     

    
      	
              Date
      or Period

            	
              Ratio

            
	
              The
      first day of the Quarterly Reporting Period ending on or about
      June 23, 2008 through the last day of the Quarterly Reporting Period
      ending on or about March 29, 2009

            	
              2.00
      to 1.00

            
	
              The
      first day of the Quarterly Reporting Period ending on or about
      June 21, 2009 through the last day of the Quarterly Reporting Period
      ending on or about March 28, 2010

            	
              3.00
      to 1.00

            
	
              Thereafter

            	
              2.75
      to 1.00

            

    

    

     

    (d) Amendment to Schedule
2.01.  Schedule 2.01 of the Credit Agreement, Lenders and
Commitments, is hereby amended by deleting such Schedule in its entirety
and by substituting in lieu thereof Schedule 2.01 attached hereto.

     

    4. Reduction of
Commitment.  This Amendment shall serve as notice of the
Borrower’s intent to permanently reduce the Revolving Credit Commitment pursuant
to Section 2.09 of the Credit Agreement. The reduction of the Revolving Credit
Commitment is reflected in Schedule 2.01 attached hereto.

     

    5. No Other
Amendment.  Notwithstanding the agreement of the Lenders to the
terms and provisions of this Amendment, Holdings and the Borrower acknowledge
and expressly agree that this Amendment is limited to the extent expressly set
forth herein and shall not constitute a modification of the Credit Agreement or
any other Loan Documents or a course of dealing at variance with the terms of
the Credit Agreement or any other Loan Documents (other than as expressly set
forth above) so as to require further notice by the Administrative Agent or the
Lenders, or any of them, of its or their intent to require strict adherence to
the terms of the Credit Agreement and the other Loan Documents in the
future.  All of the terms, conditions, provisions and covenants of the
Credit Agreement and the other Loan Documents shall remain unaltered and in full
force and effect except as expressly modified by this Amendment.  The
Credit Agreement and each other Loan Document shall be deemed modified hereby
solely to the extent necessary to effect the waivers and amendments contemplated
hereby.

     

    6. Representations and
Warranties.  Holdings and the Borrower hereby represent and
warrant in favor of the Administrative Agent and each Lender as
follows:

     

    (a) Each of
Holdings and the Borrower has the corporate power and authority (i) to enter
into this Amendment and (ii) to do all other acts and things as are required or
contemplated hereunder to be done, observed and performed by them;

     

    (b) This
Amendment has been duly and validly executed and delivered by Holdings and the
Borrower, and such Amendment constitutes the legal, valid and binding
obligations of Holdings and the Borrower, enforceable against Holdings and the
Borrower in accordance with their respective terms, except as limited by
bankruptcy, insolvency or other laws of general application relating to the
enforcement of creditors’ rights and general principles of equity;

     

    (c) The
execution and delivery of this Amendment and the performance by Holdings and the
Borrower under the Credit Agreement and the other Loan Documents to which each
is a party, as amended hereby, do not and will not require the consent or
approval of any regulatory authority or governmental authority or agency having
jurisdiction over Holdings or the Borrower or any of their subsidiaries which
has not already been obtained, nor is in contravention of or in conflict with
the articles of incorporation, by-laws or partnership agreements of Holdings and
the Borrower or any of their subsidiaries, or any provision of any statute,
judgment, order, or material indenture, instrument, agreement, or undertaking to
which Holdings, the Borrower or any of their subsidiaries is a party or by which
any of their respective assets or properties is or may become
bound;

     

    (d) All of
the representations and warranties of the Borrower made under the Credit
Agreement and the other Loan Documents are true and correct in all material
respects as of the date hereof, after giving effect hereto, as if made on the
date hereof (except to the extent previously fulfilled in accordance with the
terms hereof and to the extent relating specifically to a specific prior date);
and

     

    (e) There
does not exist, after giving effect to this Amendment, any Default under the
Credit Agreement.

     

    7. Conditions Precedent;
Effective Date.  This Amendment shall be effective as of the
date hereof subject to satisfaction of each of the following conditions
precedent:

     

    (a) all of
the representations and warranties of the Borrower under Section 3 hereof being
true and correct in all material respects as of the date hereof;

     

    (b) receipt
by the Administrative Agent of counterparts hereof executed by the Required
Lenders, Holdings and the Borrower;

     

    (c) receipt
by the Administrative Agent of the Amendment Fee (defined below) and, pursuant
to Section 2.09(c) of the Credit Agreement, receipt by the Administrative Agent
of the accrued but unpaid Commitment Fees on the permanent reduction of the
Revolving Credit Commitments reduced pursuant to Section 4 hereof;
and

     

    (d) receipt
by the Administrative Agent of all fees and expenses due and payable in
connection with this Agreement.

     

    8. Amendment
Fee.  As consideration for each of the Lenders’ and
Administrative Agent’s entering into this Amendment, Holdings and Borrower shall
pay to Administrative Agent, for itself and on behalf of the Lenders, an
amendment fee in an amount equal to 0.50% of the aggregate Commitments of each
Lender set forth on Schedule 2.01 attached hereto who consents to this Amendment
(the “Amendment
Fee”) on or before 5:00 p.m. (EST) on Monday, May 4, 2009.  The
Amendment Fee is due and payable in full upon execution and delivery of this
Amendment.  Holdings and Borrower agree that the Amendment Fee has
been fully earned by Administrative Agent and Lenders and is non-refundable in
whole or in part.

     

    9. Counterparts.  This
Amendment may be executed in any number of counterparts, each of which shall be
deemed to be an original, but all such separate counterparts shall together
constitute one and the same instrument.

     

    10. Loan
Documents.  Each reference in the Credit Agreement or any other
Loan Document to the term “Credit Agreement” shall hereafter mean and refer to
the Credit Agreement as amended hereby and as the same may hereafter be
amended.

     

    11. Governing
Law.  This Amendment shall be construed in accordance with and
governed by the internal laws of the State of New York, applicable to agreements
made and to be performed in New York.

     

    12. Severability.  Any
provision of this Amendment which is prohibited or unenforceable in any
jurisdiction shall be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof in that
jurisdiction or affecting the validity or enforceability of such provision in
any other jurisdiction.

     

    Capitalized
terms used in this Amendment and not otherwise defined herein are used as
defined in the Credit Agreement.

     

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

     

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties hereto have executed this Amendment or caused it to
be executed under seal by their duly authorized officers, all as of the day and
year first above written.

     

    
      	
              BORROWER:

            	
              NETWORK
      COMMUNICATIONS, INC., a Georgia Corporation

            
	 
      	
              By:
      /s/ Gerard P. Parker

              Name:
      Gerard Parker

              Title:   Chief
      Financial Officer

            

    

    

    
      
        
           [NETWORK
COMMUNICATIONS, INC. - THIRD AMENDMENT TO

           REVOLVING
LOAN CREDIT AGREEMENT]

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              HOLDINGS:

            	
              GALLARUS
      MEDIA HOLDINGS, INC., a Delaware corporation

            
	 
      	
              By:
      /s/ Gerard P. Parker

              Name:
      Gerard Parker

              Title:   Chief
      Financial Officer

            

    

    

    
      
        
           [NETWORK
COMMUNICATIONS, INC. - THIRD AMENDMENT TO

           REVOLVING
LOAN CREDIT AGREEMENT]

          

           

        

         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              ADMINISTRATIVE
      AGENT AND LENDERS:

            	
              TORONTO
      DOMINION (TEXAS) LLC, a Administrative Agent and as a
    Lender

            
	 
      	
              By:
      : /s/ Ian Murray

                     Name:
      Ian Murray

                     Title:   Authorized
      Signatory

            

    

    

    
      
        
           [NETWORK
COMMUNICATIONS, INC. - THIRD AMENDMENT TO

           REVOLVING
LOAN CREDIT AGREEMENT]

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    

    Schedule
2.01

    

    Lenders and
Commitments

    

    
      	
              Lender

            	
              Commitment

               

            
	
              Toronto
      Dominion (Texas) LLC

               

            	
              $9,428,572

            
	
              Wells
      Fargo Foothill, Inc.

               

            	
              $4,285,714

            
	
              National
      City Bank

               

            	
              $1,285,714

            
	
              TOTAL COMMITMENT

               

            	
              $15,000,000

            

    

    

    

    
      
        
           [NETWORK
COMMUNICATIONS, INC. - THIRD AMENDMENT TO

           REVOLVING
LOAN CREDIT AGREEMENT]ex10-1.htm

    Exhibit
10.1

    ASSIGNMENT
AND BILL OF SALE

    

    STATE OF
TEXAS

    

    COUNTY OF
VICTORIA

    

    KNOW ALL MEN BY THESE PRESENTS: THAT
for and in consideration of the sum of ONE HUNDRED THOUSAND DOLLARS and No/100
Dollars ($100,000.00.00) and other good and valuable consideration, SNRG
Corporation and Texas Gohlke Partners Inc, whose address for the purpose hereof
is 1800 St. James Place, Suite 306 Houston, TX 77056 (hereinafter referred to as
“Assignor”) do herby assign, transfer, convey and set over unto Rangeford
Resources, Inc., whose address is P.O. Box 1365, 851 N Country road 11,
Wellington, CO 80549 (hereinafter referred to as Assignee”), subject to the
terms and provisions set forth herein, the following:

    

    
      	
               
      

            	
              (a)

            	
              All
      rights, titles, and interests of Assignors, in and to the oil, gas and
      mineral leases and wells described in Exhibit “A” attached hereto and made
      a part hereof, the same being one hundred percent Working Interest and not
      less than the net revenue interest as specified in Exhibit “A”, INSOFAR
      and ONLY INSOFAR as said leases cover the lands and depths specifically
      described on said Exhibit “A” in the description of such lease (which oil,
      gas and mineral lease as so limited in acreage and depth is hereinafter
      called the “Subject Lease”); and

            

    

     

    
      	
               
      

            	
              (b)

            	
              All
      rights, titles and interests of Assignors, if any, in and to all
      materials, supplies, machinery, equipment, improvements, and other
      personal property, moveables and fixtures (including, but not limited to),
      oil and gas production, transferrable seismic data, wellhead equipment,
      pumping units, flowlines, tanks, buildings, injection facilities,
      saltwater disposal wells and facilities, compression facilities, gathering
      systems, and all other wells and equipment, compressor lease agreements,
      seismic permission agreements, surface leases easements, rights of way,
      tool yards, and structures located on the Subject Leases or used in
      connection with the exploration, development, operation, or maintenance
      thereof

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    This
instrument is made subject to the following items:

    

    
      	
               
      

            	
              1.

            	
              THIS
      ASSIGNMENT AND BILL OF SALE IS MADE BY ASSIGNORS AND ACCEPTED BY ASIGNEE
      WITHOUT ANY WARRANTY OR REPRESENTATION WHATSOEVER, WHETHER EXPRESS,
      IMPLIED OR STATUATORY AS TO TITLE (EXCEPT FOR THE SPECIAL WARRANTY OF
      TITLE SET FORTH BELOW), DESCRIPTION, QUANTITY, QUALITY, FITNESS FOR A
      PARTICULAR PURPOSE, CONFORMITY TO THE MODELS OR SAMPLES OF MATERIALS, OR
      MERCHANTABILITY OF ANY EQUIPMENT OR ITS FITNESS FOR ANY PURPOSE, OR
      OTHERWISE.  ASSIGNEE HAS INSPECTED, OR WAIVED ITS RIGHT TO
      INSPECT THE PROPERTIES FOR ALL PURPOSES AND SATISFIED ITSELF AS TO THEIR
      PHYSICAL AND ENVIRONEMTNAL CONDITION, BOTH SURFACE AND SUBSURFACE,
      INCLUDING, BUT NOT LIMITED TO, CONDITIONS SPECIFICALLY RELATED TO THE
      PERSENCE, RELAEASE, OR DISPOSAL OF HAZARDOUS SUBSTANCES, SOLID WASTES,
      ASBESTOS, OR OTHER MANAMDE FIBERS OR NATURALLY OCCURING RADIOACTIVE
      MATERIALS (“NORM”) IN, ON, OR UNDER THE PROPRETIES.  ASSIGNEE IS
      RELYING SOLELY UPON ITS OWN INSPECTION OF THE PROPERTIES, AND ASSIGNEE
      SHALL ACCEPT ALL OF THE SAME “AS IS, WHERE IS.”  WITHOUT
      LIMITATION OF THE FOREGOING, ASSIGNORS MAKE NO WARRANTY OR REPRESENTATION,
      EXPRESS, IMPLIED, STATUATORY, OR OTHERWISE, AS TO THE ACCURACY OR
      COMPLETEDNESS OF ANY DATA, REPORTS, RECORDS, PROJECTIONS, INFORMATION, OR
      MATERIALS NOW, HERETOFORE, OR HEREAFTER FURNISHED OR MADE AVAILABLE TO
      ASIGNEE IN CONNECTION WITH THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION,
      PRICING ASSUMPTIONS OR QUALITY OR QUANTITY OF HYDROCARBON RESERVES (IF
      ANY) ATTRIBUTABLE TO THE PROPERTIES OR THE ABILITY OR POTENTIAL OF THE
      PROPERTIES TO PRODUCE HYDROCARBON OR THE ENVIRONMENTAL CONDITION OF THE
      PROPERTIES OR ANY OTHER MATERIALS FURNISHED OR MADE AVAILABLE TO ASIGNEE
      BY ASSIGNORS OR BY ASSIGNORS’ AGENTS OR REPRESENTATIVES. ANY AND ALL SUCH
      DATA, RECORDS, REPORTS, PROJECTIONS, INFORMATION, AND OTHER MATERIALS
      (WRITTEN OR ORAL) FURNISHED BY ASSIGNORS OR OTHERWISE MADE AVAILABLE OR
      DISCLOSED TO ASIGNEE ARE PROVIDED TO ASSIGNEEAS A CONVENICENCE AND SHALL
      NOT CREATE NOR GIVE RISE TO ANY LIABILITY OF OR AGAINST ASSIGNORS, AND ANY
      RELIANCE IN OR USE OF THE SAME SHALL BE AT ASSIGNEE’S SOLE RISK TO THE
      MAXIMUM EXTENT PERMITTED BY LAW.  NOTWITHSTANDING THE ABOVE
      DISCLAIMER OF WARRANTIES, EACH RESPECTIVE ASSIGNOR WARRANTS AND AGREES TO
      DEFEND TITLE TO THE ASSIGNED PREMISES AGAINST THE LAWFUL CLAIMS AND
      DEMANDS OF ALL PERSONS (OTHER THAN AN ASSIGNOR PARTY HERETO) CLAIMING THE
      SAME OR ANY PART THEREOF BY, THROUGH, OR UNDER SUCH ASSIGNOR, BUT NOT
      OTHERWISE.

            

    

    
 

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

     

    
      	
               
      

            	
              2.

            	
              Assignors
      will deliver all such other and additional instruments, notices, releases
      and other documents, and will do all such other acts and things, as may be
      necessary more fully to assure to Assignee or its successors or assigns
      all of the respective rights and interests herein and hereby granted or
      intended to be granted in the Subject
Lease.

            

    

     

    
      	
               
      

            	
              3.

            	
              By
      acceptance of this Assignment and Bill of Sale Assignee agrees to comply
      with and does hereby assume and agree to perform all express and implied
      covenants, obligations and reservations contained in the Subject Lease and
      any other agreements associated with the Subject Lease and shall bear all
      existing burdens on the Subject
Lease.

            

    

     

    
      	
               
      

            	
              4.

            	
              The
      provisions hereof should be covenants running with the lands and shall be
      binding upon and inure to the benefit of the parties hereto, their
      respective successors and assigns.

            

    

     

    
      	
               
      

            	
              5.

            	
              This
      instrument may be executed in multiple counterparts, each of what shall be
      deemed an original and the signature acknowledgement pages of the
      individual counterparts may be combined into one instrument for
      recordation purposes.

            

    

     

    
      	
               
      

            	
              6.

            	
              This
      instrument and the conveyance hereunder is subject to the terms and
      conditions of all documents of record and documents and agreements made
      available and or disclosed to Assignee affecting the Subject Leases,
      properties and including but not limited to the following:
    N/A

            

    

     

    Assignee
agrees to assume all obligations and liabilities set forth and incurred under
all of such documents and agreements.

    

    Balance
of this page left intentionally blank.

    

    

    

    

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

    
 

    
      	
               
      

            	
              7.

            	
              IN WITNESS WHEREOF this
      instrument is dated June 10, 2009, is executed by the parties hereto as of
      the dates of their respective
  acknowledgements.

            

    

    

    SNRG
CORPORATION

     

    BY:  /s/ D.
Elroy Fimrite

    

    THE STATE
OF
TEXAS                                               }

    CITY AND
COUNTY OF
HARRIS                              }

    

    

    Acknowledged
before me on this 12 day of June, 2009 by D. Elroy Fimrite, as Agent and
Attorney in Fact for SNRG Corporation, a Nevada corporation, on behalf of said
corporation.

    

    

    
      
        
          	
                  My
      commission expires:

                	 
      
	
                  3-16-2013

                	
                  /s/ Diane R. Lara

                
	 
      	
                  Notary
      Public, State of Texas

                
	 
      	 
      
	 
      	
                  Diane R. Lara

                
	 
      	
                  Notary’s
      Printed Name

                

        

      

    

     

    TEXAS
GOHLKE PARTNERS, INC.

    

    

    BY:  /s/ D.
Elroy Fimrite

    

    THE STATE
OF
TEXAS                                               }

    CITY AND
COUNTY OF
HARRIS                              }

    

    

    Acknowledged
before me on this 12 day of June, 2009 by D. Elroy Fimrite, as Agent and
Attorney in Fact for Texas Gohlke Partners, Inc., a Texas corporation, on behalf
of said corporation.

     

    
      
        
          
            	
                    My
      commission expires:

                  	 
      
	
                    3-16-2013

                  	
                    /s/ Diane R. Lara

                  
	 
      	
                    Notary
      Public, State of Texas

                  
	 
      	 
      
	 
      	
                    Diane R. Lara

                  
	 
      	
                    Notary’s
      Printed Name

                  

          

        

      

       

    

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

    Rangeford
Resources, Inc.

    

    

    BY: /s/
Ronald A. Davis

    Authorized
Signatory

    

    THE STATE
OF
FLORIDA                                                                                     }

    CITY AND
COUNTY OF INDIAN
RIVER                                                            }

    

    

    Acknowledged
before me on this 12th day of
June, 2009 by ­­­­­Ronald Alan Davis, as Agent and Attorney
in Fact for Rangeford
Resources, Inc, a Nevada corporation, on behalf of said
corporation.

     

    
      
        
          
            	
                    My
      commission expires:

                  	 
      
	
                    November
      28, 2012

                  	
                    /s/ Marcia Eyberse

                  
	 
      	
                    Notary
      Public, State of Florida

                  
	 
      	 
      
	 
      	 
      
	 
      	
                    Marcia Eyberse

                  
	 
      	
                    Notary’s
      Printed Name

                  

          

        

      

      

      

      

      
        
           

        

        
          -5-

          
            

          

        

        
           

        

      

      

      

      Schedule
“A”

      

      

      LEASE#:
00669

      

      LEASE
DATE: June 3rd,
1947

      

      LESSOR:
M.G Hensley and Ella E Hensley

      

      LESSEE:
A. L. Ballard

      

      RECORDED:
Vol. 215 Page 637 of the Deed Records of Victoria County Texas

      

      
        
          	
                  DESCRIPTION:

                

        

      

      

      TRACT
NUMBER ONE: 189.6 acres, more or less, comprising tracts of 94 acres and 95.6
acres in IRR Co. Survey 8, Abstract 439, being more particularly described in
oil and mineral lease executed by M.G. Hensley et ux to J.B. Moore dated
December 3, 1937, recorded in Vol. 160, page 318, Deed Records of Victoria
County Texas, to which reference is here made. And also being the same land
described in and covered by Oil & Gas Lease, dated February 13, 1943, and
executed by M.G. Hensley and wife, Ella E. Hensley in favor (of) The Texas
Company and recorded in Vol. 189, page 316 of the Deed Records of Victoria
County, Texas, and reference is here made to the two above leases and the
records thereof for all purposes, and

      

      TRACT
NUMBER TWO: 43.348 acres of land, more or less, out of IRR Co. Survey 8 Abstract
439, being the same land conveyed to M.G. Hensley by deed dated June 15th, 1939
and executed by J.M Hensley et al of recorded in Vol. 167, page 483, et seq. of
the deed records of Victoria County, Texas, to which deed and the record thereof
reference is here made for a description of metes and bounds of the 43.348 acre
tract, and

      

      THEREFORE;
Containing in all 232.948 acres, more or less, insofar and only insofar as lease
covers those depths from the surface down to 100” below the base of the
lithologic unit represented as occurring between 8,165’ and 8,195’ on the
electric log in Humble well #4 located on the Elise Rosenfelder oil, gas and
mineral lease as recorded in Volume 237 at page 258, records of Victoria County,
Texas.

       

       

      
        
           

        

        
          -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]