ENERGY EXPLORATION TECHNOLOGIES /
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<TYPE>EX-10.40
<SEQUENCE>7
<FILENAME>ex10-40loanaddendum.htm
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<B><FONT FACE="Arial" SIZE=4><P ALIGN="CENTER">ADDENDUM-TERMINATING EVENTS</P>
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<B><FONT FACE="Arial" SIZE=1><P>Borrower:</B></FONT></TD>
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<B><FONT FACE="Arial" SIZE=1><P>NXT Aero USA Inc. </B></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=1><P>Lender:</B></FONT></TD>
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<B><FONT FACE="Arial" SIZE=1><P>Aviation Finance Group, LLC</B></FONT></TD>
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<P>&nbsp;</TD>
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<B><FONT FACE="Arial" SIZE=1><P>3557 S. Valley View Boulevard </B></FONT></TD>
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<P>&nbsp;</TD>
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<B><FONT FACE="Arial" SIZE=1><P>4355 Emerald St.</B></FONT></TD>
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<P>&nbsp;</TD>
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<B><FONT FACE="Arial" SIZE=1><P>Las Vegas, NV 89103</B></FONT></TD>
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<P>&nbsp;</TD>
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<B><FONT FACE="Arial" SIZE=1><P>Suite 200</B></FONT></TD>
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<P>&nbsp;</TD>
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<B><FONT FACE="Arial" SIZE=1><P>Boise, ID 83706</B></FONT></TD>
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<B><FONT FACE="Arial" SIZE=1><P>Guarantor:</B></FONT></TD>
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<B><FONT FACE="Arial" SIZE=1><P>Energy Exploration Technologies</B></FONT></TD>
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<P>&nbsp;</TD>
<TD WIDTH="38%" VALIGN="TOP">
<P>&nbsp;</TD>
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<P>&nbsp;</TD>
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<B><FONT FACE="Arial" SIZE=1><P>840 7th Avenue S.W., Suite 700</B></FONT></TD>
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<B><FONT FACE="Arial" SIZE=1><P>Calgary, ALB T2P3G2</B></FONT></TD>
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<P>&nbsp;</TD>
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<B><FONT FACE="Arial" SIZE=1><P ALIGN="JUSTIFY">This Addendum - TERMINATING Events is attached to and by this reference is made a part of the Commercial Guaranty, dated November 6, 2000, and executed in connection with this loan or other financial accommodations between AVIATION FINANCE GROUP, LLC ("Lender") and NXT Aero USA Inc. ("Borrower").</P>
</B><P ALIGN="JUSTIFY">Notwithstanding anything contained in the Commercial Guaranty to the contrary, Lender shall, without notice of any nature whatsoever, enforce the full and prompt payment and performance of the
Guarantor's obligations under this Commercial Guaranty until one of the following events shall have occurred (the "Terminating Events"):</P>
<OL TYPE="a">
<OL TYPE="a">

<LI>The ratio of (x) the unpaid principal balance of the loan to (y) the estimated retail value of the collateral, as determined by the lender in its discretion, is less than 50%.</LI></OL>
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</FONT><B><FONT FACE="Arial Narrow" SIZE=2><P ALIGN="JUSTIFY">THIS ADDENDUM - TERMINATING EVENTS IS EXECUTED ON NOVEMBER 6, 2000.</P>
<P ALIGN="JUSTIFY">GUARANTOR:&#9;&#9;&#9;&#9;&#9;&#9;&#9;</P>
<P ALIGN="JUSTIFY">ENERGY EXPLORATION TECHNOLOGIES</P>
<P ALIGN="JUSTIFY">By: _<u>__/s/ Daniel C. Topolinsky</u>_________________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By: _<u>_/s/_John M. Woodbury, Jr.</u>_____________________</P>
<P ALIGN="JUSTIFY">Daniel C. Topolinsky, President of Energy Exploration Technologies&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
John M. Woodbury, Jr., Secretary of Energy Exploration Technologies</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">LENDER:</P>
<P ALIGN="JUSTIFY">AVIATION FINANCE GROUP, LLC</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">By: ____________________________________________</P></B></FONT></BODY>
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