AMENDING AGREEMENT
(REVOLVING LINE OF CREDIT)
THIS AGREEMENT
is made effective January 31,
2007.
AMONG:
NORD RESOURCES
CORPORATION , a Delaware
corporation, with an office at 1 West Wetmore Road, Suite 203,
Tucson, Arizona, 85705
(“ Nord
”)
AND:
RONALD HIRSCH,
an adult individual residing in the
county of Orange, State of California
(“ Hirsch
”)
AND:
STEPHEN SEYMOUR,
an adult individual residing in the
county of Baltimore , State of Maryland
(“ Seymour
”)
WHEREAS:
(A)
On June 21, 2005, Nord entered into a $600,000 revolving line of
credit agreement (the “ Credit Agreement ”) and
Secured Promissory Note (the “ Note ” and
together with the Credit Agreement, the “ Revolver
”) with Hirsch and Seymour, that was amended on November 8,
2005, May 5, 2006, August 14, 2006, August 17, 2006 and September
29, 2006, December 22, 2006 and January 15, 2007;
(B)
Nord, Hirsch and Seymour wish to amend the terms of the Revolver as
described in this Agreement; and
(C)
Capitalized terms not otherwise herein defined shall have the
meaning ascribed to them in the Revolver.
THIS AGREEMENT
WITNESSES that in
consideration of the premises and of the sum of $10 and other good
and valuable consideration now paid by each of the parties to the
others (the receipt and sufficiency of which are hereby
acknowledged by the parties), the parties covenant and agree
that;
- 2 -
Revolving Line of
Credit
1.
The Maturity Date is the earlier of:
(a)
February 23, 2007, or
(b)
the closing date of
(i)
