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APR. 4.2006 11:ti4Ann F,.. <br />-4- <br />4.3 Nothing contained in this Areernent shall be deemed to constitute alny of the Parties the <br />partner of the Aar, nor, accept as otherwise hercut expressly provided, to constitute any • <br />Patty the agent or legal representative of any other Party, nor to create any fiduciary <br />reladonship among the Patties. Except as otherwise expsesaly stated herein, the. rights, <br />duties, obligations and liabilities of the Parties shall be several and not joint or collective. <br />5. GLOHAVS MTERESF <br />5.1 In oonsideration of Global agreeing to pay all Costs to be incurred during the currency of <br />this Agreement, Global shall have a 50,14 Participating Interest in the JV, subject to <br />Sections 5.2 and 63. <br />5.2 In order to maintain its 50% Participating Interest in the JV, Global shall: <br />(a) issue 1,500.000 common shares in its "pig stock to the Property Owners within <br />five business days following the acceptance of this Agreement by the TSX <br />Venture >3xaW: <br />(b) make the following cash payments to the Property Owners: <br />(i) on or before June 1, 2003 - $30,000; <br />(ii) on or before June 1, 2004 - $30,000; <br /> on or before June 1, 2005 - $30,000; <br />(iv) on or before June 1, 2006 - $30,000; <br />(v) on or before June 1, 2007 - $30,000; <br />(vi) on or before June 1, 2009 - $60,000; <br />(vii) on or before June 1, 2009 - $60,000; <br />(viii) on or before June 1, 2010 - $60,000; <br />(ix) on or before June 1, 2011 - $60,000; <br />(x) on or before June 1, 2012 - $60,000; <br />(xi) on or before June 1, 2013 - $90,000; <br />(xii) on or before June 1. 2014 - $90,000; <br />(xiii) on or before June 1, 2015 - $90,000; <br />(xiv) on or before June 1, 2016 - 390,000; <br />(xV) on or bofbw June 1, 2017 - 590,000; and <br />NADft4%01a"h17041Property%0o1d Hrir UM13.doe <br />• <br />0