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<br />~J <br /> <br />amount of 515,625, maximum annual payments in the amount of <br />$20,000 and maximum aggregate payments totaling $1Z5,o00. All <br />payments due to McGtiffin pursuant to this Assignment shall be <br />paid to McGtiffin directly by Durango or its assignee and shall <br />be credited to amounts due unde[ the Note. <br />(e) If McGriffin receives payments on the Note <br />totaling $100,000 by one year after Closing, or if AMCC pays <br />803 of the unpaid principal balance of the Note at any time <br />prior to seven years after closing, then McGriffin shall mark <br />the Note "paid" and return it to AMCC and execute releases of <br />the Deed of Trust, Assignment, and any other rights he may have <br />pursuant to this settlement agreement. <br />,.._ t..,; ...wr. •_: u' •n2"::'-:+~='~"'-a. J~.`! l_ u,Gt ,r ~ y_@e.,.x Jx s.__h. •~c:_ <br />''~~^ (f)"J This settlement agreement is contingent upon <br />written consent from Durango and Peerless Resources, Inc. to <br />the Deed of Trust and Assignment. ..;: `•• <br />., i.we>;c,.~ .. <br />~,.,,,rm,,.a. ^,. <br />`~=nmv:z•.K.aa: x~a~lr,a .av .r, ~.. ~. ., .. <br />2. If and when AMCC decides to abandon its interest <br />in any of the state leases included in the Properties, AMCC <br />shall give McGriffin written notice of its intention to abandon <br />said interest together with the opportunity for McGriffin to <br />take an assignment of said interest from AMCC, subject to all <br />conditions and limitations applicable to that interest, and to <br />assume AMCC's obligations thereunder. <br />-4-' <br />