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• a. Resolution of Caribou property issues. <br />• <br />Calais may repurchase the 1999 Properties and the 2000 Properties from AM by <br />paying to AAI the principal amount of the debenture AAI currently holds as <br />described above in ¶1(b)(v)(l ), which payment will result in the cancellation of <br />the debenture and will require the reconveyance of the 1999 Properties and 2000 <br />Properties to Calais. The Harvey Parties holding the debentures retain the right to <br />convert the debenture to shares within 30 days of notice from Calais to eliminate <br />the debt. <br />ii. Calais may exercise its right to complete that purchase at any time through <br />August 31, 2011. At the time that Calais exercises its rights to complete the <br />purchase of either the 1999 Properties and the 2000 Properties, AAI will give to <br />Calais a general warranty deed for the property being purchased transferring such <br />property to Calais free and clear of any claims of others, except those created by <br />Calais. <br />iii. During the period through August 31, 2011, Calais and its servants, agents, <br />employees, officers, directors, and contractors: <br />1. May enter in, under, and upon the 1999 Properties and the 2000 Properties; <br />2. Have quiet possession of the 1999 Properties and the 2000 Properties; <br />3. Do such prospecting, exploration, development, and/or other mining work thereon <br />and thereunder as Calais, in its sole discretion, may determine advisable; <br />4. Bring upon and erect upon the 1999 Properties and the 2000 Properties buildings, <br />• plants, machinery and equipment as Calais may deem advisable; �".. <br />5 <br />