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SUBJECT TO FED. R. EVID. 408 <br />SUMMARY OF TERM AND CONDITIONS <br />October 20, 2015 <br />Federal Resources Corporation <br />Camp Bird Colorado, Inc. <br />Federal Resources Corporation and Camp Bird Colorado, Inc. ("Debtors") are pleased to <br />provide this Summary of Terms and Conditions ("Term Sheet") for the proposed sale of the <br />personal property located at the Camp Bird mine site to Richard Ciardo or his designee. This <br />Term Sheet does not purport to summarize all of the conditions, terms, covenants, <br />representations, warranties and other provisions that would be contained in a definitive legal <br />document for the purchase agreement contemplated herein. <br />This Tenn Sheet is not intended to be, and shall not be construed as, a commitment by <br />any party to enter into any transaction. The terms described in this Term Sheet are subject to <br />documentation and final approval of Debtors. No legally binding obligation of any party to <br />discuss, negotiate or enter into any transaction will arise unless and until the definitive <br />documentation is executed and the Bankruptcy Court has entered an order approving and <br />authorizing the Debtors to execute such documentation. <br />FRC: Federal Resources Corporation <br />CBCI: Camp Bird Colorado, Inc. <br />Debtors: Collectively, FRC and CBCI <br />Purchaser: Richard Ciardo, or his designee <br />Personal Property: Any and all equipment and inventory located at the <br />Camp Bird mine site owned by CBCI.' This sale <br />expressly excludes all plans, maps, permits and other <br />business records of CBCI, FRC, or Camp Bird <br />Transportation, Mine, Tunnel and Mine Company <br />(collectively, `Business Records") that may be <br />located at the Camp Bird mine site. <br />Motion Flow Control Products, Inc. ("Motion Flow") has alleged an ownership interest <br />in that certain hydraulic pipe crimping machine (part # 85c-kkb, serial # 85c -112-I-050), certain <br />pipe crimping tool dies (part #s 80c -a04, 80c -a06, 80c -a08, 80c -a10, 80c -a12, 80c -a16), and a 72 <br />hole bin (72b -cabinet) ("Motion Flow Equipment"), which are believed to be located at the <br />Camp Bird mine site. The Debtors believe that Motion Flow is the owner of the Motion Flow <br />Equipment, and the Debtors will be seeking to abandon the Motion Flow Equipment to Motion <br />Flow in connection with any motion to approve the sale of the Personal Property to the <br />Purchaser. <br />:u..... <br />