Document:

linkexh10_1.htm

    
      

    
Exhibit
10.1

    MINERAL LEASE
AGREEMENT

    

    Timberwolf
Minerals, LTD (Lessor) leases to Link Resources Inc., (Lessee) the unpatented
mining claims attached as Exhibit “A” (referred to as the Property) located in
Section 20 , Township 30 North, Range 39 East, Mt. Diablo Meridian in Pershing
County, Nevada, USA, subject to the following conditions:

    

    Recitals:

    

    
      	
              A.

            	
              “Effective
      Date” is  April 1, 2008.

            

    

    

    
      	
              B.

            	
              “Lease
      Year” means each one (1) year period following the Effective Date and each
      anniversary of the Effective Date.

            

    

    

    
      	
              1.

            	
              Warranties.
      Lessor warrants that he is the owner of the unpatented mining claims more
      particularly described in Exhibit “A” as the Property, and said claims are
      free from all liens and
encumbrances.

            

    

    

    
      	
              2.

            	
              Exploration and
      Development Rights. Lessor will grant the Property to Lessee for
      the Lease period with the exclusive right to explore, develop and mine the
      Property for gold, silver and other valuable
  minerals.

            

    

    

    
      	
              3.

            	
              Performance
      Requirements / Assumption of Claim
      Maintenance. Under applicable Federal, State, and County laws and
      regulations, Federal, State, and County annual mining claim maintenance or
      rental fees are required to be paid for the unpatented mining claims which
      constitute all or part of the Property. Lessee shall timely and properly
      pay the Federal, State, and County annual mining claim maintenance or
      rental fees, and shall execute and record or file, as applicable, proof of
      payment of the Federal, State, and County annual mining claim maintenance
      or rental fees and of Lessor’s intention to hold the unpatented mining
      claims which constitute the Property. If Lessee does not terminate this
      Agreement before June 1 of any subsequent Lease Year, Lessee will be
      obligated either to pay the Federal, State, and Local annual mining claim
      maintenance or rental fees for the Property due that year or to reimburse
      Lessor for same.

            

    

    

    
      	
              4.

            	
              Area of
      Interest. Any additional claims located or acquired by the Lessee
      within one (1) mile from the
      exterior boundaries of the mining claims described in Exhibit “A” shall
      become a part of the leased property and shall be subject to the terms of
      this lease as of the Effective
Date.

            

    

    

    
      	
              5.

            	
              Schedule of Minimum
      Payments. The Lessee shall pay Lessor US$5,000 upon execution of
      this lease. The Lessee shall pay to Lessor minimum payments which shall be
      advance payments of the Royalty, beginning on the first anniversary of
      this lease. Lessee shall be responsible for all federal, state and local
      taxes as they come due during the term of this Agreement. Lessee may
      extend this lease upon payment and grant of the
  following:

            

    

    

    
      	
               
      

            	
              a.

            	
              Pay
      Lessor US$5,000 on or before the first anniversary of this
      lease.

            

    

    

    
      	
               
      

            	
              b.

            	
              Pay
      Lessor US$10,000 on or before the second and third anniversaries of this
      lease.

            

    

    

    
      	
               
      

            	
              c.

            	
              Pay
      Lessor US$25,000 on or before the fourth anniversary of this
      lease

            

    

    

    
      	
               
      

            	
              d.

            	
              Each
      annual payment thereafter to Lessor shall be US$75,000 plus an
      annual

            

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              increase
      or decrease equivalent to the rate of inflation designated by the
      Consumer’s Price Index (CPI) for that year with execution year as base
      year. Each such payment shall be made on or before the successive
      anniversary of the execution of this
lease.

            

    

    

    
      	
              6.

            	
              Royalty
      Purchase. The Lessee shall have the right to purchase up to two and
      one-half (2.5) percent, or any part thereof, of the royalty applicable on
      all unpatented claims as described in Exhibit “A” and within the
      boundaries of the Area of Interest for a cost of US$5,000,000 (five
      million US dollars) per percentage point from which advance payments of
      Royalty, made up to the day of buyout, may be subtracted from the royalty
      purchase price. The royalty purchase price is only in effect up to sixty
      (60) days of completion of a bankable feasibility study, or in lieu of a
      feasibility study, when ore production of any type occurs. Lessee will pay
      Lessor a perpetual one percent (1.0%) royalty on Net Smelter Returns (as
      defined below in Section 7. of this document) thereafter for production on
      any or all unpatented claims within the area of
  interest.

            

    

    

    
      	
              7.

            	
              Definition of Net
      Smelter Returns. During the term of this Lease, Lessee shall pay to
      Lessor, as a landowner’s Production Royalty, a percentage of the Net
      Smelter Returns (as defined below) from the sale of any Valuable Minerals,
      Ore, and Product mined and sold from the Property. “Net Smelter Returns”
      are defined as the gross revenues actually received by Lessee from the
      sales of any Valuable Minerals extracted and produced from the Property
      less the following charges:

            

    

    

    
      	
               
      

            	
              a.

            	
              All
      costs to Lessee of weighing, sampling, determining moisture content and
      packaging such refined material and of loading and transporting it to the
      point of sale, including insurance and in-transit security
      costs.

            

    

    

    
      	
               
      

            	
              b.

            	
              All
      smelter costs and all charges and penalties imposed by the smelter,
      refinery or purchaser.

            

    

    

    
      	
               
      

            	
              c.

            	
              Marketing
      costs and commissions.

            

    

    

    
      	
               
      

            	
              d.

            	
              Not
      withstanding the foregoing, for purposes of determining the royalty
      payable to Lessor on any gold and/or silver produced from the Property,
      the price attributed to such gold and/or silver shall be the price per
      ounce of gold and/or silver on which the royalty is to be paid (as the
      case may be) as quoted on the London Metals Exchange at the PM fix on the
      day prior to the date of final settlement from the smelter, refinery or
      other buyer of the gold and/or silver on which the royalty is to be paid
      (the “Quoted Price”). For purposes of determining the gross revenues, in
      the event the Lessee elects not to sell any portion of the gold and/or
      silver mined from the Property, but instead elects to have the final
      product of any such gold and/or silver credited to be held for its account
      with any smelter, refiner or broker, such gold and/or silver shall be
      deemed to have been sold at the Quoted Price on the day such gold and/or
      silver is actually credited to or placed in Lessee’s account. The
      percentage to be paid to Lessor from production from the Property
      (unpatented claims as defined in Exhibit “A” and all area of interest) for
      this Production Royalty shall be three and one-half percent (3.5%) Net
      Smelter Return.

            

    

    

    
      	
               
      

            	
              e.

            	
              Lessors
      shall be paid the Production Royalty quarterly by certified check by the
      Lessee or operator of the mine.

            

    

    

    
      	
              8.

            	
              Conditions of
      Termination by Lessor. This lease may be terminated at any time by
      the Lessor

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              subject
      to the following:

            

    

    

    
      	
               
      

            	
              a.

            	
              If
      Lessee fails to meet the above lease payments, Lessor must give written
      notice to Lessee of such default. After receipt of default, Lessee has
      fifteen (15) days to cure the
default.

            

    

    

    
      	
               
      

            	
              b.

            	
              Lessee
      shall provide proof of payment to Lessor at least twenty (20) days prior
      to due date of any and all payments to Federal, State and County
      authorities. If Lessee fails to make Federal, State, and County
      maintenance payments, tax payments or filing fees at least twenty (20)
      days prior to due date, Lessor shall notify Lessee of default. After ten
      (10) days, if the default is not cured, Lessor may initiate the
      appropriate payment. Lessee will be deemed to have defaulted on the lease
      without further notification by Lessor. Lessee will be able to cure this
      default by reimbursing all Federal, State and County payments made by the
      Lessor + a twenty percent (20%) penalty within thirty (30) days of
      payment.

            

    

    

    
      	
               
      

            	
              c.

            	
              In
      the event that the Lessee makes payment, but fails to notify the Lessor,
      Lessee is directly responsible for reimbursement to Lessor of any excess
      money paid to any Federal, State, or County entity within thirty (30) days
      of payment.

            

    

    

    
      	
              9.

            	
              Conditions of
      Termination by Lessee. This Lease may be terminated at any time by
      the Lessee subject to the
following:

            

    

    

    
      	
               
      

            	
              a.

            	
              Lessee
      must give written notice thirty (30) days prior to relinquishing the
      leased property.

            

    

    

    
      	
               
      

            	
              b.

            	
              In
      the event Lessee desires to terminate the agreement after June 1 of any
      year, Lessee shall be responsible for all Federal, State, and County
      Maintenance and filing fees for the next assessment year regarding the
      leased property.

            

    

    

    
      	
               
      

            	
              c.

            	
              Lessee
      shall deliver to Lessor in digital or reproducible form all data generated
      or obtained for the leased property, whether factual or interpretive as
      defined in section 13.

            

    

    

    
      	
               
      

            	
              d.

            	
              Lessee
      shall quitclaim to Lessor all claims located or acquired by Lessee within
      the one (1) mile area of interest described in Paragraph 4. During the
      Period of the lease, any and all unpatented mining claims that are
      considered unnecessary to the Lessee within the area of interest will be
      offered to the Lessor at least twenty (20) days prior to the annual
      payment to the Federal government.

            

    

    

    
      	
              10.

            	
              Reclamation.
      Compliance with the Law. All exploration and development work
      performed by Lessee during the term of this Agreement shall conform with
      the applicable laws and regulations of the state in which the Property is
      situated and the United States of America. Lessee shall be fully
      responsible for compliance with all applicable Federal, State, and local
      reclamation statutes, regulations and ordinances relating to such work, at
      Lessee’s cost, and Lessee shall indemnify and hold harmless Lessor from
      any and all claims, assessments, fines and actions arising from Lessee’s
      failure to perform the foregoing obligations. Lessee’s reclamation
      obligation shall survive termination of this Agreement. Lessor agrees to
      cooperate with Lessee in Lessee’s application for governmental licenses,
      permits, and approvals, the costs of which shall be borne by Lessee.
      Lessee shall own all governmental licenses, permits, and approvals. Lessor
      warrants that all disturbances from previous work performed on the
      property has been properly
reclaimed

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              according
      to applicable state and federal
regulations.

            

    

    

    
      	
              11.

            	
              Liens. Lessee
      shall keep the property free from any and all liens and
      encumbrances.

            

    

    

    
      	
              12.

            	
              Transfer,
      Assignment. Lessor and Lessee and their respective successors shall
      have the right to assign or otherwise transfer their respective interests
      in the Agreement in whole or in part provided that the transferee agrees
      in writing to assume all, or a portion of all if applicable, obligations
      of Lessee or Lessor hereunder, as the case may
  be.

            

    

    

    
      	
              13.

            	
              Lease Term. The
      term of this lease is for twenty (20) years, renewable for additional
      twenty (20) years so long as conditions of the lease are
    met.

            

    

    

    
      	
              14.

            	
              Data and
      Reports. Upon and after execution of the detailed agreement, Lessor
      will make available to Lessee all technical data, survey notes or maps,
      samples, drilling results including drill logs and reports concerning the
      Property which Lessor possesses, or to which it has access, or which it
      acquires in the future. Within sixty (60) days after termination of the
      detailed agreement, Lessee shall return to Lessor, all information of a
      nature similar to that described above and developed by Lessee during the
      term of the Lease Agreement. If requested by Lessor not more than once in
      any twelve (12) calendar months, Lessee shall submit to Lessor, within
      sixty (60) days of Lessee’s receipt of such request, an annual progress
      report describing Lessee’s work upon the Property, the results of such
      work, and the amounts expended by Lessee in furtherance thereof to the
      date of such report.

            

    

    

    
      	
              15.

            	
              Notification to
      Lesser. All notices and payments from Lessee to Lessor shall be
      sent to:

            

    

    

    Timberwolf
Minerals, LTD

    1314
Linden St.

    Canon
City, CO 81212  USA

    

    or any
other person Lessor shall designate. If Lessor designates an alternative person
to receive notices and payment, they shall provide written notice of such to
Lessee. All lease payments shall be made in the form of a check payable to
Timberwolf Minerals, LTD.

    

    
      	
              16.

            	
              Notification to
      Lessee. All notices from Lessor to Lessee shall be sent
      to:

            

    

    

    Link
Resources Inc.

    Anthony
Zaradic, Pres.

    392
Acadia Dr. SE

    Calgary,
AB  T2J  0A8   Canada

    

    or any
other person Lessee shall designate. If Lessee designates an alternative person
to receive notices, they shall provide written notice of such to
Lessor.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    The
parties have executed this Agreement effective as of the Effective
Date.

     

    
      
        	 	TIMBERWOLF
      MINERALS, LTD	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ David Wolfe	 
	 	 	 	 
	 	Title:	 President	 
	 	 	 	 

      

    

    
      	
              STATE OF

            	
              Colorado

            	
              )

            
	 
      	 
      	
              )ss.

            
	
              COUNTY

            	
              Fremont

            	
              )

            

    

    

    Before
me, a Notary Public in and for said State and County, duly commissioned and
qualified, personally appeared David A. Wolfe, with whom I am personally
acquainted (or proved to me on the basis of satisfactory evidence) and who
acknowledged himself to be the President of Timberwolf Minerals, LTD and who
acknowledged that he executed the within instrument for the purposes therein
contained.

    

    Witness
my hand, at office, this 14th  day
of April, 2008.

     

    
 

    
      
        	 	 	 	 	 
	
                 

              	 	 	
                 

              	 
	
                 

              	 	 	
                NOTARY
      PUBLIC

              	 
	
                 

              	 	 	
                 

              	 

      

    

    
       

    

    

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	 	LINK
      RESOURCES INC.	 
	 	 	 	 
	
               

            	
              By:
      

            	/s/ Anthony
      Zaradic	 
	 	 	ANTHONY
      ZARADIC	 
	 	 	 	 
	 	Title:	PRESIDENT	 
	 	 	 	 

    

     

     

    Personally
appeared before me Doug Fawcett, with whom I am personally acquainted (or proved
to me on the basis of satisfactory evidence) and who acknowledged that he
executed the within instrument for the purpose therein contained.

    

    Witness
my hand, at office, this 1st day of April, 2008.

    

    

    
      
        	 	 	 	 	 
	
                 

              	 	 	
                 

              	 
	
                 

              	 	 	
                NOTARY
      PUBLIC

              	 
	
                 

              	 	 	
                 

              	 

      

    

     

     

    

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    EXHIBIT
A

    Description
of PROPERTY

    

     

    

    
      	Unpatented
      Mining Claims	 
	 	 
	
                  
      Claim Name

            	
              BLM Serial
      No.

            
	 
      	 
      
	
                  
      GB-1 & GB-2

            	
                  
      NMC # 983672, 983673

            

    

    

    

    A total
of two (2)  unpatented lode mining claims located in Section 20,
Township 30 North, Range 39 East, Mt. Diablo Baseline & Meridian, Pershing
County, Nevada, USA, owned by Timberwolf Minerals LTD.

    

    

    

     

     

    
 

    
      
         

      

      
        7ex10_1.htm

    
      
        

      

      Exhibit
10.1 

      

       

                  This
SIXTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is made as of August 15,
2008, but effective as of August 29, 2008, and is by and between STANLEY
FURNITURE COMPANY, INC., a Delaware corporation (the “Borrower”); and WACHOVIA
BANK, NATIONAL ASSOCIATION, a national banking association and successor to
SouthTrust Bank, an Alabama banking corporation (the “Lender”).

       

      RECITALS

       

      The
Lender has made a certain credit facility (the “Loan”) available to the Borrower
pursuant to the terms and conditions contained in that certain Credit Agreement
dated as of August 29, 2003 between the Borrower and the Lender (as amended by
that certain First Amendment to Credit Agreement dated as of April 23, 2004,
that certain Second Amendment to Credit Agreement effective as of August 29,
2005, that certain Third Amendment to Credit Agreement effective as of August
28, 2006, that certain Fourth Amendment to Credit Agreement effective as of
August 29, 2007, and that certain Fifth Amendment to Credit Agreement effective
as of September 28, 2007, the “Credit Agreement”).

       

      In
accordance with Section 2.12 of the Credit Agreement, the Borrower has submitted
to the Bank, and the Bank has received, a timely request that the Lender extend
the Date of Maturity (as defined in the Credit Agreement) to August 29,
2010.

       

      The
Lender has agreed to extend the Date of Maturity in accordance with said request
and the terms of this Amendment.

       

      The
Borrower has also requested that the Lender amend certain provisions of the
Credit Agreement and, subject to the terms and conditions set forth in this
Amendment, the Lender has agreed to do so.

       

      NOW,
THEREFORE, the Borrower and the Lender hereby agree as follows:

       

      1.           Pursuant
to the terms of Section 2.12 of the Credit Agreement, the Lender has agreed to
extend the Date of Maturity of the Loan by 12 months, effective August 29,
2008.  Effective August 29, 2008, the maturity date of the Loan and
the definition of “Date of Maturity” in the Credit Agreement are hereby changed
to August 29, 2010.

      2.           The
Credit Agreement is hereby amended as follows:

      
        	
                 
      

              	
                (a)

              	
                In
      Section 2.3(b)(i), “one-half of one percent (0.50%)” is hereby changed to
      “three-quarters of one
      percent (0.75%)” in clause
(A).

              

      

       

      
        	
                 
      

              	
                (b)

              	
                Section
      2.6(a) is hereby replaced in its entirety with the
    following:

              

      

       

      
        	
                 
      

              	
                (a)

              	
                During
      the Revolving Credit Period, the Borrower shall pay to the Bank a
      commitment fee at the following
rate:

              

      

       

      (i)           twenty-five
(25) basis points per annum on the average daily unused portion of the
Commitment for each calendar quarter, if the average daily unused portion of the
Commitment for said quarter is greater than 75% of the amount of the Commitment;
and

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      (ii)           seventeen
and one-half (17.5) basis points per annum on the average daily unused portion
of the Commitment for each calendar quarter, if the average daily unused portion
of the Commitment for said quarter is 75% or less of the amount of the
Commitment.

       

      As
used herein, “unused portion of the Commitment” means, for any day, the amount
of the Commitment minus the Revolving Loan Balance for such day; and “average
daily” means, for any calendar quarter, the sum of each day’s unused portion of
the Commitment, divided by the number of days in said calendar
quarter.  Such commitment fee shall be payable on the fifth day of
each calendar quarter in arrears.

       

      2.           This
Amendment shall be deemed to be a contract made under, and for all purposes
shall be construed in accordance with, the laws of the Commonwealth of
Virginia.

       

      3.           The
Borrower hereby acknowledges and agrees that, as of the date hereof, the unpaid
principal balance of the Loan is $0 and that there are no set-offs or defenses
against the Credit Agreement or the Note (as defined in the Credit
Agreement).  The parties to this Amendment do not intend that this
Amendment be construed as a novation of the Note or the Credit
Agreement.  Except as hereby expressly extended and modified, the Note
and Credit Agreement shall otherwise be unchanged, shall remain in full force
and effect, and are hereby expressly approved, ratified and
confirmed.

       

      IN
WITNESS WHEREOF, the parties hereto have executed or caused this instrument to
be executed under seal as of the day and year first above written.

       

      
        	
                STANLEY
      FURNITURE COMPANY, INC.    [SEAL]

              	 
      
	 	 	 
	 
      	 
      	 
      
	
                By:

              	
                /s/Douglas I. Payne

              	 
      
	
                Name:

              	
                 Douglas I. Payne

              	 
      
	
                Title:

              	
                 EVP – Finance &
      Administration

              	 
      
	 
      	 
      	 
      
	 	 	 
	
                WACHOVIA
      BANK, NATIONAL ASSOCIATION    [SEAL]

              	 
      
	 	 
	 	 
	
                By:

              	
                /s/Jonathan R. Richardson

              	 
      
	
                Name

              	
                Jonathan R. Richardson

              	 
      
	
                Title

              	
                Senior VP

              	 
      

      

2

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