Document:

Exhibit 10.16 Promissory Note

PROMISSORY NOTE

 

 Scottsdale, Arizona

 April 1, 2017

 

FOR VALUE RECEIVED, the undersigned, Northsight Capital, Inc., a corporation with an address of 7740 East Evans rd., Scottsdale, AZ 85264 (hereinafter referred to as the “Maker”), hereby promises to pay to the order of Sandor Capital Master Fund, a company with a mailing address of 2828 Routh St., Dallas Texas (“Holder”), the sum of SEVENTY-ONE THOUSAND NINETY-SEVEN DOLLARS ($71,097).  

 

Important Explanatory Note: Holder acknowledges and agrees that: (i) this promissory note supersedes that certain promissory note issued by the Maker in favor of the Holder prior to the date hereof in the principal amount of $65,000 (including accrued interest thereon of $6,097) and (ii) that the principal amount of this promissory note ($71,097), together with that certain promissory note of even date, in the principal amount of $42,374, issued by Maker in favor of Holder, represents the entire amount of all indebtedness owing by the Maker to the Holder as of the date hereof. 

 

All outstanding principal sums shall be paid by Maker, as set forth below. The entire balance of outstanding principal and other fees and charges shall be due and payable on the earlier of (i) an Event of Default (as defined below) or (ii) August 1, 2017 (the “Maturity Date). There shall be no prepayment penalty.  

 

The unpaid principal balance from time to time outstanding under this note shall be non-interest bearing.  

  

Each of the following shall constitute an “Event of Default” hereunder: (i) Maker’s failure to make any payment when due hereunder; (ii) with respect to Maker, the commencement of an action seeking relief under federal or state bankruptcy or insolvency statutes or similar laws, or seeking the appointment of a receiver, trustee or custodian for Maker or all or part of its assets, or the commencement of an involuntary proceeding against Maker under federal or state bankruptcy or insolvency statues or similar laws, which involuntary proceeding is not dismissed or stayed within thirty (30) days; or (iii) if Maker makes an assignment for the benefit of creditors. If an Events of Default occurs, the obligations under this note shall become immediately due and payable without notice or demand.  

 

Maker agrees to pay all reasonable costs and expenses, including, without limitation, reasonable attorneys’ fees and expenses incurred, or which may be incurred, by Holder in connection with the enforcement and collection of this note. Such costs and expenses shall be payable upon demand for the same and until so paid shall be added to the principal amount of the note.  

 

Maker hereby waives presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance and enforcement of this note, and assent to extensions of the time of payment or forbearance or other indulgence without notice. No delay or omission of Holder in exercising any right or remedy hereunder shall constitute a waiver of any such right or remedy. Acceptance by Holder of any payment after demand shall not be deemed a waiver of such demand. A waiver on one occasion shall not operate as a bar to or waiver of any such right or remedy on any future occasion. 

 

This instrument contains the entire agreement among Maker and Holder with respect to the transactions contemplated hereby, and supersedes all negotiations, presentations, warranties, commitments, offers, contracts and writings prior to the date hereof relating to the subject matter hereof. This instrument may be amended, modified, waived, discharged or terminated only by a writing signed by Maker and accepted in writing by Holder.

 

This instrument shall be governed by Arizona law, without regard to the conflict of laws provisions thereof. For purposes of any action or proceeding involving this note, Maker and Holder hereby expressly submit to the jurisdiction of all federal and state courts located in the State of Arizona and consent to any order, process, notice of motion or other application to or by any of said courts or a judge thereof being served within or without such court’s jurisdiction by registered mail or by personal service, provided a reasonable time for appearance is allowed (but not less than the time otherwise afforded by any law or rule), and waives any right to contest the appropriateness of any action brought in any such court based upon lack of personal jurisdiction, improper venue or forum non conveniens. 

 

This Note shall inure to the benefit of Holder’s successors and assigns. 

Executed as an instrument under seal, as of the date first above written. This Note shall not become an obligation of the Maker until countersigned by Holder and returned to Maker.

 

MAKER: 

 

 

WITNESS:Northsight Capital, Inc. 

 

_____________________________________/s/ John P Venners                                        

WitnessJohn P. Venners, EVP Operations  

Print Name: ___________________________

 

ACCEPTED AND AGREED BY HOLDER

 

Sandor Capital Master Fund

 

/s/ John Lemak                             

By: John Lemak, duly authorized

2

EXHIBIT 1 – NOTES REFINANCED

 

	Date

	 

	Original Note

	Balance

	5/11/2016

	 

	Principal

	 65,000 

	 

	 

	New Note

	Balance

	 

	 

	Original Principal

	 65,000 

	 

	 

	Accrued Interest

	 6,097 

	4/1/2017

	 

	New Note Principal

	 71,097 

	 

	 

	 

	 

3Exhibit 10.17 Extension Agreement

 

EXTENSION AGREEMENT

 

(Promissory Notes dated April 1, 2017)

 

THIS AGREEMENT is made effective as of June 30, 2017, by and between, Sandor Capital Master Fund., a company with a principal place of business at 2828 Routh St., Suite 500, Dallas, TX 75201 (“Sandor”) and Northsight Capital, Inc., with an address of 7580 East Gray Rd., Suite 103, Scottsdale, AZ 85264 (the “Borrower”).

 

RECITALS

 

WHEREAS, Sandor is the holder of certain promissory notes of Borrower (“Notes”) dated as of April 1, 2017 (See Schedule A for Note details);

 

WHEREAS, Borrower and Sandor have agreed to extend the Maturity date of the Notes until October 1, 2017; 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 October 1, 2017 (“Maturity Date”). The Notes, except as modified hereby, remains 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

 

/s/ John Lemak                                         

John Lemak, duly authorized

 

Borrower:

 

Northsight Capital, Inc.

 

/s/ John Venners                                       

By: John Venners, EVP OperationsExhibit 10.18 Promissory Note

OMNIBUS PROMISSORY NOTE

 

 Scottsdale, Arizona

 April 1, 2017

 

FOR VALUE RECEIVED, the undersigned, Northsight Capital, Inc., a corporation with an address of 7580 East Gray Rd., Suite 103, Scottsdale, AZ 85260 (hereinafter referred to as the “Maker”), hereby promises to pay to the order of John Lemak, with a mailing address of 2828 Routh St., Dallas Texas (“Holder”), the sum of ONE HUNDRED TWO THOUSAND FOUR HUNDRED SIXTY-FIVE DOLLARS ($102,465).  

 

Important Explanatory Note: Holder acknowledges and agrees that: (i) this omnibus promissory note consolidates and supersedes certain promissory notes issued by the Maker in favor of the Holder prior to the date hereof in the aggregate principal amount of $101,000 (see schedule A hereto) and (ii) that the principal amount of this promissory note represents the entire amount of all indebtedness owing by the Maker to the Holder as of the date hereof. 

 

All outstanding principal sums shall be paid by Maker, as set forth below. The entire balance of outstanding principal and other fees and charges shall be due and payable on the earlier of (i) an Event of Default (as defined below) or (ii) October 1, 2017 (the “Maturity Date). There shall be no prepayment penalty.  

 

The unpaid principal balance from time to time outstanding under this note shall be non-interest bearing.  

  

Each of the following shall constitute an “Event of Default” hereunder: (i) Maker’s failure to make any payment when due hereunder; (ii) with respect to Maker, the commencement of an action seeking relief under federal or state bankruptcy or insolvency statutes or similar laws, or seeking the appointment of a receiver, trustee or custodian for Maker or all or part of its assets, or the commencement of an involuntary proceeding against Maker under federal or state bankruptcy or insolvency statues or similar laws, which involuntary proceeding is not dismissed or stayed within thirty (30) days; or (iii) if Maker makes an assignment for the benefit of creditors. If an Events of Default occurs, the obligations under this note shall become immediately due and payable without notice or demand.  

 

Maker agrees to pay all reasonable costs and expenses, including, without limitation, reasonable attorneys’ fees and expenses incurred, or which may be incurred, by Holder in connection with the enforcement and collection of this note. Such costs and expenses shall be payable upon demand for the same and until so paid shall be added to the principal amount of the note.  

 

Maker hereby waives presentment, demand, notice, protest and all other demands and notices in connection with the delivery, acceptance, performance and enforcement of this note, and assent to extensions of the time of payment or forbearance or other indulgence without notice. No delay or omission of Holder in exercising any right or remedy hereunder shall constitute a waiver of any such right or remedy. Acceptance by Holder of any payment after demand shall not be deemed a waiver of such demand. A waiver on one occasion shall not operate as a bar to or waiver of any such right or remedy on any future occasion. 

 

This instrument contains the entire agreement among Maker and Holder with respect to the transactions contemplated hereby, and supersedes all negotiations, presentations, warranties, commitments, offers, contracts and writings prior to the date hereof relating to the subject matter hereof. This instrument may be amended, modified, waived, discharged or terminated only by a writing signed by Maker and accepted in writing by Holder.

 

This instrument shall be governed by Arizona law, without regard to the conflict of laws provisions thereof. For purposes of any action or proceeding involving this note, Maker and Holder hereby expressly submit to the jurisdiction of all federal and state courts located in the State of Arizona and consent to any order, process, notice of motion or other application to or by any of said courts or a judge thereof being served within or without such court’s jurisdiction by registered mail or by personal service, provided a reasonable time for appearance is allowed (but not less than the time otherwise afforded by any law or rule), and waives any right to contest the appropriateness of any action brought in any such court based upon lack of personal jurisdiction, improper venue or forum non conveniens. 

 

This Note shall inure to the benefit of Holder’s successors and assigns.  

Executed as an instrument under seal, as of the date first above written. This Note shall not become an obligation of the Maker until countersigned by Holder and returned to Maker.

 

MAKER: 

 

 

WITNESS:Northsight Capital, Inc. 

 

_____________________________________/s/ John P Venners                                 

WitnessJohn P. Venners, EVP Operations  

Print Name: ___________________________

 

 

ACCEPTED AND AGREED BY HOLDER

 

 

/s/ John Lemak                             

By: John Lemak, duly authorized

2

EXHIBIT 1 – NOTES REFINANCED

 

	 

	 

	Original Notes

	Balance

	12/01/2016

	 

	Principal

	 20,000 

	12/31/2016

	 

	Principal

	 11,000 

	01/26/2017

	 

	Principal

	 10,000 

	01/30/2017

	 

	Principal

	 14,000 

	2/6/2017

	 

	Principal

	 11,000 

	03/10/2017

	 

	Principal

	 25,000 

	03/16/2017

	 

	Principal

	 10,000 

	 

	 

	 

	 101,000 

	 

	 

	New Note

	Balance

	 

	 

	Original Principal

	 101,000 

	 

	 

	Accrued Interest

	 1,465 

	4/1/2017

	 

	New Note Principal

	 102,465 

3

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