2023-04-25_GENERAL DOCUMENTS - M2022032

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EXHIBIT 3 PERMITTED USES OF APPROVAL PERIOD EXPENSE MONEY EXHIBIT 4 PROMISSORY NOTE U.S.$ Issuance Date: 2023 FOR VALUE RECEIVED,Colorado Silver Mines,LLC,a company organized under the laws of the state of Colorado, whose address is , Attn: (the"Maker"),promises to pay to the order of,Alliance Management,LLC,as receiver in the civil action styled Mercurio Investments US, Inc v Ouruy Silver Mines, Inc,a Ouray County, Colorado Case No. 2022CV30006, whose address is (the"Holder")(or,at the option of the Holder at such other place as Holder shall designate in writing),the principal sum of U.S. and 00/100 Dollars ($_ (this "Note") All outstanding principal and interest is due in accordance with the terms of the Asset Purchase Agreement dated April 14,2023 by and between Holder and Debtor. This Note may be prepaid in full or in part at any time without premium or penalty. In the event of any legal action taken under this Note,the prevailing party in such action shall be paid by the non-prevailing party upon demand its costs and expenses of such legal action, including reasonable attorneys'fees. No delay or omission on the part of any party hereto to exercise any right provided under this Note shall operate as a waiver of such right or remedy on any future occasion,nor shall any single or partial exercise of any right or remedy provided to a party under this Note preclude any further exercise of such right or remedy or any other right or remedy provided to such party under this Note Each of the following events shall be an"Event of Default"under this Note: (a) Payment Default. If the Borrower fails to repay the amount due in accordance with the terms of the Asset Purchase Agreement,on the due date for payment of that money and such failure continues for more than ten(10)business days after written notice from Holder. Exhibit 1 Exhibit 1 Page 43 of 73 Page 44 of 73