Document:

Promissory Note

    Exhibit
      10.3

    

      
        	
                Date:
                  August 17, 2006

              	 	
                Amount:
                  Up To $20,000 (U.S.)

              

      

      

      
         

        AFTERMARKET
          ENTERPRISES, INC.

        

        PROMISSORY
          NOTE

        BEARING
          INTEREST AT 10% PER ANNUM

        
          
            

          

        THIS
          NOTE
          HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
          "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE
          SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE TRANSFERRED
          OR SOLD
          IN THE ABSENCE OF AN EFFECTIVE REGISTRATION OR OTHER COMPLIANCE UNDER THE
          SECURITIES ACT OR THE LAWS OF THE APPLICABLE STATE OR A "NO-ACTION" OR
          INTERPRETIVE OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER AND
          ITS
          COUNSEL TO THE EFFECT THAT THE SALE OR TRANSFER IS EXEMPT FROM REGISTRATION
          UNDER THE SECURITIES ACT AND SUCH STATE STATUTES.

        
          
 

        AFTERMARKET
          ENTERPRISES, INC., a corporation duly organized and existing under the
          laws of
          the state of Nevada (hereinafter referred to as the "Company"), for value
          received, hereby promises to pay to Jeff
          W. Holmes,
          the
          registered holder hereof, up to that amount borrowed by the Company from
          Mr.
          Holmes which as of the date of the note is ten
          thousand dollars ($10,000)
          one year
          from date, upon presentation and surrender of this promissory note (the
          "Note")
          at the offices of the Company, in such lawful money of the United States
          of
          America as at the time of payment shall be legal tender for the payment
          of
          public and private debt, until the principal hereof is paid or made available
          for payment as herein provided. Mr. Holmes has agreed to loan a total of
          up to
          twenty thousand dollars ($20,000) to the Company on the terms, conditions
          and
          documentation provided in this Note.

        

        This
          Note
          is subject to the following further terms and material provisions:

        

        1. Letter
          of Credit.
          Mr.
          Holmes agrees to loan the Company up to twenty thousand ($20,000) at any
          time
          within one year of the date of this Note upon request of the Company. All
          sums
          loaned to the Company shall be on the same terms and conditions of this
          Note and
          be covered by this Note. At the execution of this Note, Mr. Holmes is loaning
          an
          initial ten thousand dollars ($10,000) to the Company.

        

        2. Term
          and Interest.
          The
          date of maturity of the Note shall be one year from the date of issuance,
          subject to prepayment as set forth in paragraph 3 hereof. The Note shall
          bear
          simple interest at the rate of ten percent (10.0%) per annum. The principal
          on
          the Note is payable on the maturity date, subject to prepayment as set
          forth in
          paragraph 3 hereof, and will be paid at the office of the Company, maintained
          for such purposes, to the registered holder of the Note on the books and
          records
          of the Company. Accrued interest on the Note will be payable annually,
          on the
          anniversary date of the Note, and will be paid at the office of the Company,
          maintained for such purposes, to the register holder of the Note on the
          books
          and records of the Company

         

        
          
            
            

          

          
            -1-

            
              

            

          

          
            
            

          

        

        
 

        3. Prepayment..
          This
          Note is subject to prepayment, in whole or in part, at the election of
          the
          Company at any time, upon not less than 10 days notice. Prepayment shall
          be
          effected by paying the amount equal to the outstanding principal amount
          of the
          Note and accrued interest at the date of prepayment. On the date fixed
          for
          prepayment by the Company, the amount of principal shall be paid in cash
          or
          certified funds. Any Note which is prepaid only in part shall be presented
          for
          notation thereon by the Company of such partial prepayment. If less than
          all the
          Note principal amount and interest is to be prepaid, notice of the proposed
          prepayment shall be sent to the registered holder of the Note and such
          prepayment shall be made. The note is subject to prepayment, at the election
          of
          the Holder, upon the completion of financing by the Company which raises
          from
          investors, other than current shareholders, a minimum of fifty thousand
          dollars
          ($50,000) in the form of equity or debt financing. Additionally, upon the
          raising of fifty thousand dollars ($50,000) from outside investors whether
          in
          the form of debt or equity investments into the Company, Mr. Holmes will
          no
          longer provide a letter of credit up to twenty thousand dollars ($20,000)
          and
          will not loan any further funds to the Company beyond the funds already
          loaned
          as of such date. 

        

        4. Satisfaction
          and Discharge of Note.
          This
          Note shall cease to be of further effect (except as to any surviving rights
          of
          transfer, or exchange of Notes herein expressly provided for) when:

        

        (a) The
          Company has paid or caused to be paid all sums payable hereunder by the
          Company,
          including all principal and interest amounts under the Note; and

        

        (b) All
          the
          conditions precedent herein provided for relating to the satisfaction and
          discharge of this Note have been met.

        

        5. Events
          of Default.
          "Events
          of Default," when used herein, whatever the reason for such event of default
          and
          whether it shall be voluntary or involuntary or be effected by operation
          of law
          pursuant to any judgment, decree, or order of any court or any order, rule,
          or
          regulation of any administrative or government body or be caused by the
          provisions of any paragraph herein means any one of the following
          events:

        

        (a) Default
          in the payment of the principal of the Note, when due, whether at maturity,
          or
          otherwise; or

        

        (b) Default
          in the performance or breach of any covenant or warranty of the Company
          in this
          Note (other than a covenant or warranty, the breach or default in performance
          of
          which is elsewhere in this section specifically dealt with), and continuation
          of
          such default or breach for a period of 30 days after there has been given
          to the
          Company by registered or certified mail, by the holders of a majority in
          principal amount of the outstanding Note, a written notice specifying such
          default or breach and requiring it to be remedied and stating that such
          notice
          is a notice of default hereunder; or

        

        (c) The
          entry
          of a decree or order by a court having jurisdiction in the premises adjudging
          the Company a bankrupt or insolvent, or approving as properly filed a petition
          seeking reorganization, arrangement, adjustment, or composition of or in
          respect
          of the Company under the Federal Bankruptcy Act or any other applicable
          federal
          or state law, or appointing a receiver, liquidator, assignee, trustee,
          sequestrator (or other similar official) of the Company or of any substantial
          part of its property, or ordering the winding up or liquidation of its
          affairs,
          and the continuation of any such decree or order unstayed and in effect
          for a
          period of 30 consecutive days; or

         

        
          
            
            

          

          
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        (d) The
          institution by the Company of proceedings to be adjudicated a bankrupt
          or
          insolvent, or the consent by it to the institution of bankruptcy or insolvency
          proceedings against it, or a filing by it of a petition or answer or consent
          seeking reorganization or relief under the Federal Bankruptcy Act or any
          other
          applicable federal or state law; or

        

        (e) The
          consent by the Company to the filing of any such petition or the appointment
          of
          a receiver, liquidator, assignee, trustee, sequestrator (or other similar
          official) of the Company or of any substantial part of its property), or
          the
          making by it of an assignment for the benefit of creditors, or the admission
          by
          it in writing of its inability to pay its debts generally as they become
          due, or
          the taking of corporate action by the Company in furtherance of any such
          action.

         

        6. Acceleration
          of Maturity.
          If an
          event of default occurs and is continuing then, in every such case, the
          holder
          of a majority in principal amount of the outstanding Notes, may declare
          the
          principal of the Notes to be due and payable immediately, by a notice in
          writing
          to the Company of such default, and upon any such declaration, such principal
          shall become immediately due and payable. At any time after such declaration
          of
          acceleration has been made, and before a judgment or decree for payment
          of money
          due has been obtained by the holders, the holders of a majority of the
          principal
          of the outstanding Notes, by written notice to the Company, may rescind
          and
          annul such declaration and its consequences, if all events of default,
          other
          than the nonpayment of the principal of the Notes which has become due
          solely by
          such acceleration, has been cured or waived. No such recession shall affect
          any
          subsequent default or impair any right contingent thereon.

        

        7. Suits
          for Enforcement.
          If an
          event of default occurs and is continuing, the holder of a majority in
          principal
          amount of the outstanding Note may, in their discretion, proceed to protect
          and
          enforce their rights by such appropriate judicial proceedings as the holders
          shall deem most effectual to protect and enforce any such rights, whether
          for
          the specific enforcement of any covenant or agreement under this Note or
          in aid
          of the exercise of any power granted herein, or to enforce any other proper
          remedy.

        

        8. Limitation
          on Suits.
          No
          holder of any Note shall have any right to institute any proceedings, judicial
          or otherwise, with respect to this Note, or for the appointment of a receiver
          or
          trustee, or for any remedy hereunder, unless such holder has previously
          given
          written notice to the Company of a continuing event of default as provided
          above; it being understood and intended that no one or more holders of
          this Note
          shall have any right in any manner whatever by virtue of, or by availing
          of, any
          provisions of this Note to effect, disturb or prejudice the right of any
          other
          holders of Notes, or to obtain or to seek to obtain priority or preference
          over
          any other holders or to enforce any right under this Note, except in the
          manner
          herein provided and for the equal and ratable benefit of all the holders
          of the
          Note.

        

        9. Acts
          of Holders.
          Any
          request, demand, authorization, direction, notice, consent, waiver, or
          other
          action provided by this Note to be given or taken by the holder hereof
          or by the
          holders of the Notes may be embodied in and evidenced by one or more instruments
          of substantially similar tenor signed by such holders in person or by their
          agent or attorney-in-fact, duly appointed in writing; and, except as otherwise
          expressly provided herein, such action shall become effective when such
          instrument or instruments are delivered to the Company in the manner provided
          for giving notices herein. Such instrument or instruments, and the action
          embodied therein or evidenced thereby, are herein sometimes referred to
          as the
“act” of the holders signing such instrument or instruments. Proof of execution
          of any such instrument or of writing appointing any such agent shall be
          sufficient for any purpose of this Note if the fact and date of execution
          by any
          person of any purpose of the Note if the fact and date of execution by
          any
          person of any such instrument or writing is verified by the affidavit of
          a
          witness of such execution or by the request, demand, authorization, direction,
          notice, consent, waiver, or other action by the holder of this Note shall
          bind
          every Note holder of the same Note and the holder of every Note issued
          upon the
          transfer thereof or in exchange therefor or in lieu thereof in respect
          of
          anything done or suffered to be done by any person in reliance thereon,
          whether
          or not notation of such action is made upon such Note.

         

        
          
            
            

          

          
            -3-

            
              

            

          

          
            
            

          

        

        
 

        10. Notices
          to Holders; Waiver.
          Where
          this Note provides for notice to holders of any event, such notice shall
          be
          sufficiently given if in writing and sent by courier providing for delivery
          within 72 hours or mailed, registered, postage prepaid, to each holder
          affected
          by such event, at his address as it appears in the Note register maintained
          by
          the Company, not later than the latest date, and not earlier than the earliest
          date, prescribed for the giving of such notice. Where the Note provides
          for
          notice to the Company, such notice shall be sufficiently given if in writing
          and
          mailed, registered, postage prepaid, to the Company at its address set
          forth
          above (or at such other address as shall be provided to the holder of this
          Note
          in the manner for giving notices set forth herein), not later than the
          latest
          date, and not earlier than the earliest date, prescribed for the giving
          of such
          notice. Where this Note provides for notice in any manner, such notice
          may be
          waived in writing by the person entitled to receive such notice, whether
          before
          or after the event, any such waiver shall be equivalent of such
          notice.

        

        11. Restrictions.
          The
          holder of this Note, by acceptance hereof, represents and warrants as
          follows:

        

        (a) The
          Note
          is being acquired for the holder's own account to be held for investment
          purposes only and not with a view to, or for, resale in connection with
          any
          distribution of such Note or any interest therein without registration
          or other
          compliance under the Securities Act and applicable state securities laws,
          and
          the holder hereof has no direct or indirect participation in any such
          undertaking or in underwriting such an undertaking. 

        

        (b) The
          holder hereof has been advised and understands that the Note has not been
          registered under the Securities Act and the Note must be held and may not
          be
          sold, transferred, or otherwise disposed of for value unless it is subsequently
          registered under the Securities Act or an exemption from such registration
          is
          available; except as set forth herein, the Company is under no obligation
          to
          register the Note under the Securities Act; in the absence of such registration,
          sale of the Note may be impracticable; the Company will maintain stop-transfer
          orders against registration of transfer of the Note. The Company may refuse
          to
          transfer the Note unless the holder thereof provides an opinion of legal
          counsel
          reasonably satisfactory to the Company or a "no-action" or interpretive
          response
          from the Securities and Exchange Commission to the effect that the transfer
          is
          proper; further, unless such letter or opinion states that the Note are
          free
          from any restrictions under the Securities Act, the Company may refuse
          to
          transfer the Note to any transferee who does not furnish in writing to
          the
          Company the same representations and agree to the same conditions with
          respect
          to such Note if any set forth herein. The Company may also refuse to transfer
          the Note if any circumstance is present reasonably indicating that the
          transferee's representations are not accurate.

        

        12. Severability.
          In case
          any provision in this Note shall be invalid, illegal, or unenforceable,
          the
          validity, legality, and enforceability of the remaining provisions shall
          not in
          any way be affected or impaired thereby.

        

        13. Governing
          Law.
          This
          Note shall be governed by and construed and interpreted in accordance with
          the
          laws of the state of Nevada. 

         

        
          
            
            

          

          
            -4-

            
              

            

          

          
            
            

          

        

        
 

        14. Legal
          Holidays.
          In any
          case where any date provided herein shall not be a business day, then
          (notwithstanding any other provision of this Note) the event required or
          permitted on such date shall be required or permitted, as the case may
          be, on
          the next succeeding business day with the same force and effect as if made
          on
          the date upon which such event was required or permitted pursuant
          hereto.

        

        15. Delay
          or Omission; No Waiver.
          No
          delay or omission of any holder of the Note to exercise any right or remedy
          accruing upon any event of default shall impair any such right or remedy
          or
          constitute a waiver of any such event or default or any acquiescence therein.
          Every right or remedy given hereby or by law may be from time to time,
          and as
          often as may be deemed expedient.

        

        16. Miscellaneous.
          This
          Note is subject to the following additional terms and conditions:

        

        (a) If
          this
          Note is placed with any attorney for collection, or if suit be instituted
          for
          collection, or if any other remedy provided by law is pursued by the registered
          holder hereof, because of any default in the terms and conditions herein,
          then
          in either event, the undersigned agrees to pay reasonable attorneys' fees,
          costs, and other expenses incurred by the registered holder hereof
          in so
          doing.

        

        (b) None
          of
          the rights and remedies of the registered holder hereof shall be waived
          or
          affected by failure or delay to exercise them. All remedies conferred on
          the
          registered holder of this Note shall be cumulated and none is exclusive.
          Such
          remedies may be exercised concurrently or consecutively at the registered
          holder's option.

        

        (c) This
          Note
          is negotiable and transferable, subject to compliance with the provisions
          of
          paragraph 11 hereof.

        

        (d) The
          makers, guarantors, and endorsers hereof severally waive presentment for
          payment, protest, and notice of protest, and of nonpayment of this
          Note.

         

        DATED
          effective as of the ______ day of August, 2006.

        

        

          
            	 	 	
                    AFTERMARKET
                      ENTERPRISES, INC. 

                  
	 	 	 
	 	 	 
	 	 	
                    By
                      ___________________________________

                  
	 	 	
                    Its
                      Duly Authorized Manager

                  
	 	 	 
	 	 	
                    Jeff
                      W. Holmes

                  
	 	 	 
	 	 	 
	 	 	
                    ______________________________________

                  

          

        

         

         

         

        -5-<PAGE>

                                                                    EXHIBIT 10.1

                   SECURED REVOLVING LINE OF CREDIT AGREEMENT

         This Revolving Line of Credit Agreement (the "AGREEMENT") is made and
entered into on this 18th day of July 2007, by and between CANVASBACK COMPANY
LIMITED, a company organized and validly existing under the laws of Anguilla
("LENDER"), and RECLAMATION CONSULTING AND APPLICATIONS, INC., a corporation
duly organized and validly existing under the laws of the State of Colorado
("BORROWER").

         In consideration of the mutual covenants and agreements contained
herein, the parties agree as follows:

                                    ARTICLE I

                            REVOLVING LINE OF CREDIT

1.1      LINE OF CREDIT. Lender hereby establishes for a period extending from
         the date hereof to July 18, 2009 (the "MATURITY DATE") a revolving line
         of credit (the "CREDIT LINE") for Borrower in the principal amount of
         Three Million Dollars ($3,000,000) (the "CREDIT LIMIT"). In connection
         herewith the Parties have executed a Security Agreement of even date
         hereof (the "SECURITY AGREEMENT") and Borrower has executed and
         delivered to Lender a Promissory Note of even date herewith (the
         "PROMISSORY NOTE"). (This Agreement, the Security Agreement and the
         Promissory Note shall collectively be referred to as the "LOAN
         DOCUMENTS.") All sums advanced on the Credit Line or pursuant to the
         terms of this Agreement (each an "ADVANCE") shall become part of the
         principal under the Promissory Note.

1.2      ADVANCES. Any request for an Advance may be made from time to time and
         in such amounts as Borrower may choose; provided, however, any
         requested Advance will not, when added to the outstanding principal
         balance of all previous Advances, exceed the Credit Limit. Requests for
         Advances may be made orally or in writing by such officer of Borrower
         authorized by it to request such Advances. Until such time as Lender
         may be notified otherwise, Borrower hereby authorizes its President,
         Chief Executive Officer, Chief Financial Officer or any Vice President
         to request Advances. Lender has no obligation to make any requested
         Advance and the decision to lend such money lies in the sole and
         complete discretion of Lender. Should Lender approve any such requested
         Advance, Lender shall deposit or credit the amount of such requested
         Advance to Borrower's checking account with Lender. The funds from the
         Advances may be used by Borrower for the satisfaction of Borrower's
         debts and obligations, for the Borrower's operating expenses, and for
         other business purposes.

1.3      INTEREST. All sums advanced pursuant to this Agreement shall bear
         simple interest from the date each Advance is made until paid in full
         at the rate of twelve percent (12%) per annum, simple interest,
         calculated using a 365-day year (the "EFFECTIVE RATE").

                                       1

<PAGE>

1.4      CONVERSION OF CERTAIN LOANS. The Parties agree that in April, June and
         June 2007, Lender loaned Borrower an aggregate principal amount of Five
         Hundred Ninety Thousand Dollars ($590,000) which together with accrued
         interest in the amount of Eight Thousand One Hundred Ninety-Two Dollars
         and Eighty-Eight Cents ($8,192.88.88) on the date hereof has an
         outstanding balance of Five Hundred Ninety Eight Thousand One Hundred
         Ninety Two Dollars and Eighty-Eight Cents ($598,192.88) as described in
         Schedule A attached hereto (the "INTERIM LOANS"), which Lender is a
         true and complete list of all amounts loaned by Lender to the Company
         from April 4, 2007 through and including the date of this Agreement.
         Upon execution of this Agreement, the Parties hereby agree the
         outstanding balance of Five Hundred Ninety-Eight Thousand One Hundred
         Ninety-Two Dollars and Eighty-Eight Cents ($598,192.88) owed by
         Borrower on the Interim Loans to Lenders of the date hereof shall, as
         of the date hereof, be deemed an Advance under the Credit Line and
         shall henceforth governed by the Loan Documents. Any oral or written
         agreements regarding the Interim Loans entered into by the Parties
         prior to the execution of this Agreement shall be null and void.

1.5      REPAYMENT. All accrued unpaid interest outstanding under the Credit
         Line as of July 18, 2008 shall be paid by Borrower to Lender no later
         then July 31, 2008. The entire unpaid principal balance, together with
         any accrued interest and other unpaid charges or fees hereunder, shall
         be due and payable on the Maturity Date. All payments shall be made to
         Lender at such place as Lender may, from time to time, designate. All
         payments received hereunder shall be applied, first to accrued
         interest; and second, to principal. Borrower may prepay principal at
         any time without penalty.

1.6      SECURITY AGREEMENT. The Line of Credit is secured by a security
         interest in all the assets of the Company pursuant to the terms of the
         Security Agreement.

                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

2.1      REPRESENTATIONS AND WARRANTIES OF BORROWER. In order to induce Lender
         to enter into this Agreement and to make the advances provided for
         herein, Borrower represents and warrants to Lender as follows:

          (a)      Borrower is a duly organized, validly existing, and in good
                   standing under the laws of the State of Colorado with the
                   power to own its assets and to transact business in
                   California, and in such other states where its business is
                   conducted.

          (b)      Borrower has the authority and power to execute and deliver
                   any document required hereunder and to perform any condition
                   or obligation imposed under the terms of such documents.

          (c)      The execution, delivery and performance of this Agreement and
                   each document incident hereto will not violate any provision
                   of any applicable law, regulation, order, judgment, decree,

                                       2

<PAGE>

                   article of incorporation, by-law, indenture, contract,
                   agreement, or other undertaking to which Borrower is a party,
                   or which purports to be binding on Borrower or its assets and
                   will not result in the creation or imposition of a lien on
                   any of its assets.

          (d)      There is no action, suit, investigation, or proceeding
                   pending or, to the knowledge of Borrower, threatened, against
                   or affecting Borrower or any of its assets which, if
                   adversely determined, would have a material adverse affect on
                   the financial condition of Borrower or the operation of its
                   business

2.2      REPRESENTATIONS AND WARRANTIES OF LENDER. Lender hereby represents and
         warrants to Borrower, as of the date hereof, the following:

         (a)      Lender is a limited liability company duly organized and
                  validly existing under the laws of the Anguilla, and has full
                  power and authority to enter into, execute and perform this
                  Agreement, which Agreement, once executed by Lender, shall be
                  the valid and binding obligation of Lender, enforceable
                  against it by any court of competent jurisdiction in
                  accordance with its terms;

         (b)      the individuals signing this Agreement on behalf of Lender are
                  the duly elected executive officers of Lender so indicated,
                  and have full power and authority to enter into, execute,
                  deliver and perform this Agreement for and on behalf of
                  Lender;

         (c)      Lender is not bound by or subject to any contract, agreement,
                  court order or judgment, administrative ruling, law,
                  regulation or any other item which prohibits or restricts such
                  party from entering into and performing this Agreement in
                  accordance with its terms, or requiring the consent of any
                  third party prior to the entry into or performance of this
                  Agreement in accordance with its terms by Lender.

         (d)      with respect to the Note (the "SECURITIES") being acquired (or
                  which may be acquired) by Lender:

                   (i)      Lender is and will be acquiring the Securities for
                            its own account, and not with a view toward the
                            subdivision, resale, distribution, or
                            fractionalization thereof; Lender has no contract,
                            undertaking, or arrangement with any person to sell,
                            transfer, or otherwise dispose of the Securities (or
                            any portion thereof hereby subscribed for), and has
                            no present intention to enter into any such
                            contract, undertaking, agreement or arrangement;

                   (ii)     this subscription for Securities by Lender is not
                            the result of any form of general solicitation or
                            general advertising;

                                       3

<PAGE>

                  (iii)    Lender hereby acknowledges that: (A) the offering of
                           the Securities was made only through direct, personal
                           communication between Lender and Borrower; (B) Lender
                           has had full access to material concerning Borrower's
                           planned business and operations, which material was
                           furnished or made available to Lender by officers or
                           representatives of Borrower; (C) Borrower has given
                           Lender the opportunity to ask any questions and
                           obtain all additional information desired in order to
                           verify or supplement the material so furnished; and
                           (D) Lender understands and acknowledges that a
                           purchaser of the Securities must be prepared to bear
                           the economic risk of such investment for an
                           indefinite period because of: (I) the heightened
                           nature of the risks associated with an investment in
                           Borrower due to its status as an early-stage company,
                           including without limitation the risk of loss of the
                           entire amount of their investment; and (II)
                           illiquidity of the Securities due to the fact that
                           (1) the Securities have not been registered under the
                           1933 Act or any state securities act (nor passed upon
                           by the SEC or any state securities commission), and
                           (2) the Securities may not be registered or qualified
                           by Lender under federal or state securities laws
                           solely in reliance upon an available exemption from
                           such registration or qualification, and hence such
                           Securities cannot be sold unless they are
                           subsequently so registered or qualified, or are
                           otherwise subject to any applicable exemption from
                           such registration requirements; and (3) substantial
                           restrictions on transfer of the Securities, as set
                           forth by legend on the face or reverse side of every
                           certificate evidencing the ownership of the
                           Securities;

         (e)      Lender is an "accredited investor" as such term is defined in
                  Rule 501 of Regulation D promulgated by the Securities and
                  Exchange Commission under the Act, or, if Lender is
                  non-accredited, then he and/or she has sufficient business
                  expertise and sophistication so as to be able to make a
                  determination concerning the relative risks and merits of an
                  investment in the securities, and has a pre-existing business
                  or personal relationship with at least one of the
                  shareholders, directors or executive officers of Borrower; and

         (f)      Lender has been advised to consult with an attorney regarding
                  all legal matters concerning the purchase and ownership of the
                  Securities, and with a tax advisor regarding the tax
                  consequences of purchasing such Securities

                                   ARTICLE III

                                    CLOSING

3.1      CLOSING. The closing of the transactions contemplated by this Agreement
         shall take place on July 18, 2007 at 10:00 a.m., P.D.T. at the offices
         of the August Law Group, P.C., The Atrium Building, 19200 Von Karman
         Avenue, Suite 900, Irvine, California 92612, or at such other location,

                                       4

<PAGE>

         date and time as may be agreed upon between Canvasback and the Company
         (such closing being called the "CLOSING" and such date and time being
         called the "CLOSING DATE"). At the Closing, the Company shall issue and
         deliver to the Purchaser the Notes as consideration for the Secured
         Debt.

                                   ARTICLE IV

                         EVENTS OF DEFAULT AND REMEDIES

4.1      EVENTS OF DEFAULT. Debtor shall be in default under this Agreement on
         the occurrence of any of the following events or conditions and the
         failure of Borrower to cure such events or conditions within ten (10)
         business days following written notice from Lender describing with
         particularity the event or condition giving rise to an event of
         default:

         (a)      Failure to pay any principal or interest hereunder after the
                  same becomes due.

         (b)      Any representation or warranty made by Borrower in this
                  Agreement or in connection with any borrowing or request for
                  an Advance hereunder, or in any certificate, financial
                  statement, or other statement furnished by Borrower to Lender
                  is untrue in any material respect at the time when made.

         (c)      Filing by Borrower of a voluntary petition in bankruptcy
                  seeking reorganization, arrangement or readjustment of debts,
                  or any other relief under the Bankruptcy Code as amended or
                  under any other insolvency act or law, state or federal, now
                  or hereafter existing.

         (d)      Filing of an involuntary petition against Borrower in
                  bankruptcy seeking reorganization, arrangement or readjustment
                  of debts, or any other relief under the Bankruptcy Code as
                  amended, or under any other insolvency act or law, state or
                  federal, now or hereafter existing, and the continuance
                  thereof for sixty (60) days undismissed, unbonded, or
                  undischarged.

         (e)      Any material default by Borrower under the Security Agreement.

4.2      REMEDIES. Upon the occurrence of an event of default as defined above,
         Lender may declare the entire unpaid principal balance, together with
         accrued interest thereon, to be immediately due and payable without
         presentment, demand, protest, or other notice of any kind, and Lender
         may suspend or terminate any obligation it may have hereunder to make
         additional Advances. To the extent permitted by law, Borrower waives
         any rights to presentment, demand, protest, or notice of any kind in
         connection with this Agreement. No failure or delay on the part of
         Lender in exercising any right, power, or privilege hereunder will
         preclude any other or further exercise thereof or the exercise of any
         other right, power, or privilege. The rights and remedies provided
         herein are cumulative and not exclusive of any other rights or remedies
         provided at law or in equity.

                                       5

<PAGE>

                                    ARTICLE V

                            MISCELLANEOUS PROVISIONS

5.1      NOTICES. All notices, requests, demands and other communications to be
         given hereunder shall be in writing and shall be deemed to have been
         duly given on the date of personal service or transmission by fax if
         such transmission is received during the normal business hours of the
         addressee, or on the first business day after sending the same by
         overnight courier service or by telegram, or on the third business day
         after mailing the same by first class mail, or on the day of receipt if
         sent by certified or registered mail, addressed as set forth below, or
         at such other address as any party may hereafter indicate by notice
         delivered as set forth in this Section 5.1:

                 If to Borrower:                Reclamation Consulting &
                                                Applications, Inc.
                                                940 Calle Amanecer, Suite E
                                                San Clemente, CA 92673
                                                Attn: Mr. Gordon W. Davies
                                                      President

                 With a copy (which shall
                 not constitute notice) to:     August Law Group, P.C.
                                                19200 Von Karman, Suite 900
                                                Irvine, California  92614
                                                Attn: Kenneth S. August, Esquire
                                                      President

                 If to Lender:                  Canvasback Company Limited
                                                Hannah Waiver House
                                                The Valley, Anguilla,
                                                British West Indies
                                                Attn: Ms. Bernadine Romney
                                                      Authorized Signatory

                 With a copy (which shall
                 not constitute notice) to:     ________________________________
                                                ________________________________
                                                ________________________________
                                                Attn:    _______________________
                                                ________________________________

5.2      ENTIRE AGREEMENT. This Agreement constitutes the entire and final
         agreement and understanding between the parties with respect to the
         subject matter hereof and the transactions contemplated hereby, and
         supersedes any and all prior oral or written agreements, statements,
         representations, warranties or understandings between the parties, all
         of which are merged herein and superseded hereby.

                                       6

<PAGE>

5.3      BINDING AGREEMENT; ASSIGNMENT. This Agreement shall constitute the
         binding agreement of the parties hereto, enforceable against each of
         them in accordance with its terms. The Loan Documents shall inure to
         the benefit of each of the parties hereto, and their respective
         successors and permitted assigns; provided, however, that the Loan
         Documents may not be assigned (whether by contract or by operation of
         law) by Lender without the prior written consent of Borrower, which
         consent may be given or withheld in the sole discretion of Borrower,
         PROVIDED HOWEVER, that any such permitted assignee of any of the Loan
         Documents, executes an assignment agreement or such other document as
         Borrower may reasonably request containing all the representations,
         warranties and covenants contained in this Agreement and certifying to
         Borrower that such permitted assignee is an "Accredited Investor" as
         such term is defined in Rule 501 of Regulation D promulgated by the
         Securities and Exchange Commission under the Act,.

5.4      WAIVER. No waiver of any provision of this Agreement shall be deemed to
         be or shall constitute a waiver of any other provision, whether or not
         similar, nor shall any waiver constitute a continuing waiver. No waiver
         shall be binding unless executed in writing by the party making the
         waiver.

5.5      HEADINGS. The headings provided herein are for convenience only and
         shall have no force or effect upon the construction or interpretation
         of any provision hereof.

5.6      COUNTERPARTS; FACSIMILES. This Agreement may be executed in one or more
         counterparts, each of which shall be deemed an original, but all of
         which together shall constitute one and the same instrument. Facsimiles
         containing original signatures shall be deemed for all purposes to be
         originally-signed copies of the documents which are the subject of such
         facsimiles.

5.7      FURTHER DOCUMENTS AND ACTS. Each party agrees to execute such other and
         further documents and to perform such other and further acts as may be
         reasonably necessary to carry out the purposes and provisions of this
         Agreement.

5.8      GOVERNING LAW; VENUE. This Agreement shall be governed by and construed
         in accordance with the internal laws of the State of California
         applicable to the performance and enforcement of contracts made within
         such state, without giving effect to the law of conflicts of laws
         applied thereby. In the event that any dispute shall occur between the
         parties arising out of or resulting from the construction,
         interpretation, enforcement or any other aspect of this Agreement, the
         parties hereby agree to accept the exclusive jurisdiction of the Courts
         of the State of California sitting in and for the County of Orange. In
         the event either party shall be forced to bring any legal action to
         protect or defend its rights hereunder, then the prevailing party in
         such proceeding shall be entitled to reimbursement from the
         non-prevailing party of all fees, costs and other expenses (including,
         without limitation, the reasonable expenses of its attorneys) in
         bringing or defending against such action.

                                       7

<PAGE>

5.9      SEVERABLE PROVISIONS. The provisions of this Agreement are severable,
         and if any one or more provisions is determined to be illegal,
         indefinite, invalid or otherwise unenforceable, in whole or in part, by
         any court of competent jurisdiction, then the remaining provisions of
         this Agreement and any partially unenforceable provisions to the extent
         enforceable in the pertinent jurisdiction, shall continue in full force
         and effect and shall be binding and enforceable on the parties.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date and year first above written.

RECLAMATION CONSULTING
AND APPLICATIONS, INC.:                     ATTEST:

   By:   /s/ Gordon W. Davies            By: /s/ Michael C. Davies
         Gordon W. Davies                       Michael C. Davies
         President                              Secretary

CANVASBACK COMPANY LIMITED:

   By:    /s/ Bernadine Romney
   Name:  Bernadine Romney
          Authorized Signatory

                                       8

<PAGE>

                                   SCHEDULE A

                                       TO

                   SECURED REVOLVING LINE OF CREDIT AGREEMENT

                               DATED JULY 18, 2007
--------------------------------------------------------------------------------

Date              Original Amount            Loan Balance

26-Apr-07            $50,000                   $ 50,000
30-Apr-06            $100,000                  $150,000
29-May-07            $100,000                  $250,000
07-June-07           $100,000                  $350,000
29-June-07           $200,000                  $550,000
13-July-07           $30,000                   $580,000
16-July-07           $10,000                   $590,000

Accrued Interest as Of July 18, 2007         $ 8,192.88

Balance of Interim
Loans as of July 18, 2007                   $598,192.88

<PAGE>

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), NOR UNDER THE LAWS OF ANY STATE, AND MAY NOT BE RESOLD,
ASSIGNED, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED.

                                 PROMISSORY NOTE
                                 ---------------

$3,000,000                                                         July 18, 2007

         FOR VALUE RECEIVED, RECLAMATION CONSULTING AND APPLICATIONS, INC., a
corporation organized and existing under the laws of the State of Colorado
(hereinafter referred to as the "BORROWER"), hereby promises to pay to the order
of CANVASBACK COMPANY LIMITED, an Anguilla company, (hereinafter referred to as
the "LENDER"), at his/her/its principal address located at Hannah Waiver House,
The Valley, Anguilla BWI, or such other place or places as the Lender may
hereafter direct from time to time, in lawful money of the United States and in
immediately available funds, the principal sum of Three Million Dollars
($3,000,000), or such other or greater amount as may be outstanding, plus all
accrued unpaid interest. This Promissory Note (hereinafter referred to as the
"NOTE") shall accrue simple interest at the rate of twelve percent (12%) per
annum, calculated on the basis of a 365-day year from the date of this Note. All
accrued unpaid interest outstanding under this Note as of July 18, 2008 shall be
paid by Borrower to Lender no later then July 31, 2008. The aggregate amount of
all principal and all accrued, unpaid interest shall be due and payable on July
17, 2009 (hereinafter referred to as the "MATURITY DATE"). This Note shall be
secured by Borrower but shall be non-recourse as to any shareholder, officer,
director, employee, agent or representative of Borrower.

1. REVOLVING LINE OF CREDIT AGREEMENT. This Note is issued pursuant to that
certain Revolving Line of Credit Agreement, dated as of July 18, 2007, by and
between Borrower and the Lender (the "CREDIT AGREEMENT"), and is subject to the
provisions thereof. If any dispute arises between the terms of the Credit
Agreement and the terms of this Note, the terms of the Credit Agreement shall
prevail. The unpaid principal balance owing on this Note at any time may be
evidenced by endorsements on this Note, by a Schedule attached to this Note, or
by the Lender's internal records, including computer printouts.

2. PREPAYMENT. Borrower shall have the right to prepay the principal amount of
this Note, in whole or in part, at any time and from time to time, prior to the
Maturity Date, without penalty, during the term of this Note, provided that at
the time of such prepayment, Borrower shall also pay to Lender all unpaid
interest accrued on the principal amount of this Note through the date of
prepayment.

<PAGE>

3. SECURITY AGREEMENT. This Note is secured by a security interest in all of
Borrower's assets, which security interest was granted by Borrower to the
original holder of the Note pursuant to the terms of a certain security
agreement of even date hereof (the "SECURITY AGREEMENT").

4. TRANSFERS. This Note may be transferred only in compliance with the Credit
Agreement and with applicable federal and state securities laws, and only upon
surrender of the original Note for registration of transfer, duly endorsed, or
accompanied by a duly executed written instrument of transfer in form
satisfactory to Borrower. Thereupon, a new promissory note for like principal
amount and interest will be issued to, and registered in the name of, the
transferee. Interest and principal are payable only to the registered holder of
this Note. Lender agrees to provide a form W-9 to Borrower on request.

5. WAIVER. No waiver of any provision of this Note shall be deemed to be or
shall constitute a waiver of any other provision, whether or not similar, nor
shall any waiver constitute a continuing waiver. No waiver shall be binding
unless executed in writing by the party making the waiver. This Note shall inure
to the benefit of the Lender, his heirs, executors, successors and permitted
assigns, PROVIDED, however, that this Note shall not be assignable to any party
by contract or by operation of law without the prior written consent of
Borrower. The obligations of Borrower arising hereunder shall become the
obligations of any successor in interest or assignee thereof, whether by
contract or by operation of law.

6. GOVERNING LAW; VENUE. This Note shall be governed by and construed in
accordance with the internal laws of the State of California applicable to the
performance and enforcement of contracts made within such state, without giving
effect to the law of conflicts of laws applied thereby. In the event that any
dispute shall occur between the parties arising out of or resulting from the
construction, interpretation, enforcement or any other aspect of this Note, the
parties hereby agree to accept the exclusive jurisdiction of the Courts of the
State of California sitting in and for the County of Orange.

BORROWER:

RECLAMATION CONSULTING                         ATTEST:
 AND APPLICATIONS, INC.

   By: ___________________________             By:  ___________________________
       Gordon Davies                                Mr. Mike Davies
       President                                    Secretary

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