Jimmy Soo
Exhibit
10.2 - Loan Agreement
Xxxxx
Soo
9th
Floor,
Sage House
110
V. A.
Xxxxxx Street,
Xxxxxxx
Village, Makita City
Metro
Manila, Philippines
Tel:
(000) 000-0000
Fax:
(000)
000-0000
March
26,
2007.
36
Encology Executive Townhomes
0000
X.
Xxxx Xxxxxxxxx,
Xxxxxx
Xxxx, Xxxxxxxxxxx
Attention:
Xxxx P.T. Xxx, Chief Financial Officer
Dear
Sirs:
Re:
Vista Dorada Corp. (“VDC”) - Budget for March 20,/07 to March 19
/08
We
recently finished a budget for VDC for the next 12 months. That budget, included
in the draft SB-2 we have been preparing for VDC, (the “Budget”) shows that VDC
will require approximately $35,000 US. in cash injections over the next 12
months.
I
am
writing to confirm my agreement to provide this funding, up to $35,000 US.
should VDC be unable to raise this needed capital from other sources on terms
satisfactory to VDC.
In
consideration of the premises and other good and valuable consideration,
the
receipt and sufficiency of which is hereby acknowledged, I hereby covenant
and
agree with VDC as follows:
| 1. |
I
will advance to VDC, on an ‘as needed basis’ and as and when requested by
you on behalf of VDC from time to time over the coming twelve months,
up
to $35,000 US. in order to finance the operating expenses of VDC
as
contemplated by the Budget.
|
| 2. |
The
advances contemplated by paragraph 1. above, together with cash advances
I
have already made to VDC as of the date of this letter, will not
bear
interest and have no fixed terms of repoayment. I may however make
demand
of VDC for repayment of any amounts I have advanced, at any time
hereafter.
|
| 3. |
This
agreement will be binding upon me and my heirs, executors and assigns
and
VDC’s successors and assigns.
|
-1-
If
you
are in agreement with the foregoing please signify such agreement by
countersigning this letter agreement in the place provided below.
Yours
truly,
XXXXX
X. SOO
Xxxxx
X.
Soo
Agreed
and Accepted by
as
of
March 27, 2007.
By:
XXXX
P.T. XXX Xxxx
P.T.
Xxx,
PFO,
Secretary Treasurer and Director
-2-
