AMENDED AND RESTATED
SECURED PROMISSORY NOTE
$145,000 May 4, 1997
This Amended and Restated Secured Promissory Note ("Note"), entered into this 4th day of May, 1997 by
Coyote Sports, Inc., a Nevada corporation ("Borrower"), in favor of Steve Kerr ("Lender"), amends and
restates in its entirety that certain Secured Promissory Note of Borrower in favor of Lender dated as of April 4,
A. A certain Secured Promissory Note was entered into on April 4, 1997, by Borrower and Lender (the
B. Borrower has requested certain modifications to the Original Note as provided herein, including the extension
of the Original Note.
C. Lender is willing to modify the Original Note as provided herein, subject to the terms and conditions as set
1. OBLIGATION. FOR VALUE RECEIVED, Borrower hereby promises to pay to the order of Lender,
subject to the terms and conditions of this Note, the principal amount of One Hundred Forty-Five Thousand
Dollars ($145,000) on June 16, 1997, or, as determined pursuant to Section 10 hereof.
2. INTEREST. The unpaid principal 'balance hereof shall bear interest at a rate of eight percent (8%) per annum.
Interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. All principal,
interest and other amounts unpaid after default shall bear interest, payable on demand, computed at a rate equal
to five percent (5%) per annum plus the rate otherwise payable hereunder. Principal of and interest on this Note
shall be payable in lawful money of the United States of America. This Note may be prepaid in full or part at any
time without premium or penalty. Payments shall be applied first to accrued interest, if any, and then to principal.
3. SECURITY. To secure payment of Borrower's obligations under this Note, Borrower grants to Lender the
security interests established pursuant to the following security agreements:
(i) Stock Pledge Agreement (the "AGI Pledge"), dated April 4, 1997, p