SEC Contract Filing

Filing Date: 2017-08-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.18
<SEQUENCE>7
<FILENAME>f10q063017_ex10z18.htm
<DESCRIPTION>EXHIBIT 10.18 PROMISSORY NOTE
<TEXT>
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<TITLE>Exhibit 10.18 Promissory Note</TITLE>
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<DIV style=margin-left:36pt;width:540pt><HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'><B>OMNIBUS PROMISSORY NOTE</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=right style='font:10pt Times New Roman;margin:0'>&nbsp;<FONT style=font-size:10pt>Scottsdale, Arizona</FONT></P>
<P align=right style='font:10pt Times New Roman;margin:0'>&nbsp;<FONT style=font-size:10pt>April 1, 2017</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>FOR VALUE RECEIVED, the undersigned, Northsight Capital, Inc., a corporation with an address of</FONT><A name=OLE_LINK13 /><A name=OLE_LINK14 /><FONT style=font-size:10pt> 7580 East Gray Rd., Suite 103, Scottsdale, AZ 85260 (hereinafter referred to as the &#8220;Maker&#8221;), hereby promises to pay to the order of John Lemak, with a mailing address of 2828 Routh St., Dallas Texas (&#8220;Holder&#8221;), the sum of ONE HUNDRED TWO THOUSAND FOUR HUNDRED SIXTY-FIVE DOLLARS ($102,465). </FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>Important Explanatory Note:</B> 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. </FONT></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>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 &#8220;Maturity Date). There shall be no prepayment penalty. </FONT>&nbsp;</P>
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<P align=justify style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>The unpaid principal balance from time to time outstanding under this note shall be non-interest bearing. </FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt> </FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>Each of the following shall constitute an &#8220;</FONT><FONT style='font-size:10pt;border-bottom:1px solid #000000'>Event of Default</FONT><FONT style=font-size:10pt>&#8221; hereunder: (i) Maker&#8217;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. </FONT>&nbsp;</P>
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<P align=justify style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>Maker agrees to pay all reasonable costs and expenses, including, without limitation, reasonable attorneys&#8217; 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. </FONT>&nbsp;</P>
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<P align=justify style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt>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.</FONT>&nbsp;</P>
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<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><FONT style=font-size:10pt>This instrument contains the entire agreement among Maker and Holder with respect to the transactions contemplated hereby, and supersedes all neg