Infrastructure Developments Corp. Watch

from 10-Q 1 page Debt Settlement Agreement This Debt Settlement Agreement (This “Agreement”) Is Effective June 4, 2012 Between Infrastructure Developments Corp. (“Creditor”) and Cleanfield Energy, Inc. (“Debtor”). Section One Acknowledgement of Existing Obligation the Parties Acknowledge That Debtor Was Indebted to Creditor, at February 28, 2012, for the Sum of Nineteen Thousand Three Hundred and One Dollars and Five Cents ($19,301.05) Pursuant to a Memorandum of Understanding Dated July 1, 2011, as Amended July 7, 2011 (The "Memorandum"). Section Two Agreement for Different Method of Payment Debtor and Creditor Desire and Agree to Provide for the Payment of the Above-Stated Indebtedness in Accordance With Terms and Provisions Different From, and in Substitution Of, the Terms and Obligations as Described in Section One Above. Section Three Consideration in Consideration of the Mutual Promises Contained in This Agreement, Debtor and Creditor Agree as Follows