LOAN AGREEMENT
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Exhibit
99.2
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This
Agreement made as of March 10, 2009.
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BETWEEN: Regency
Resources Inc. (the “Company”) of 00 Xxxxxxxxxxx Xxxxxx, Xxxx 0, Xxxxxx
Xxxx,
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Xxxxxx, XX0 0XX
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AND: Xxxx
X.X. Xxxxxx (“Xxxxxx”) of 00 Xxxxxxxxxxx Xxxxxx, Xxxx 0, Xxxxxx
Xxxx,
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Xxxxxx,
XX0 0XX
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WHERAS:
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Brooke
is the Company’s President, has loaned the Company cash from time to time
prior to the date hereof and has agreed to provide additional cash
advances to the Company;
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The
parties wish to formalize agreement between them concerning these past and
future cash advances,
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Now
therefore in consideration of the sum of $1.00 now paid by the Company to Brooke
and the premises and the mutual covenants and agreements between the parties,
the parties hereto herby agree as follows:
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Brooke
hereby agrees to provide working capital to the Company by making cash
advances, aggregating $60,000 (the “Loan”), to the Company (some of which
has been advanced to date) on an ‘as needed basis’ from time to time
between the date hereof and December 31,
2009.
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The
Company acknowledges receipt of cash advances already made by Brooke on
account of the Loan (as reflected on the books of the Company) as of the
date hereof.
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Brooke
and the Company hereby agree that the Loan (including any and all prior
advances) does not bear interest and has no fixed terms of
repayment. However Brooke may make demand for repayment of the
Loan, or so much of it as may then have been advanced to the Company, at
the time and from time to time hereafter, by written notice to the Company
delivered to the address set forth
above.
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The
parties agree that this Agreement will be binding upon the parties hereto
and their respective heirs, executors, administrators and assigns and
successors and assigns.
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In
witness whereof the parties have executed this Agreement as of the day and year
first above written.
Signed: XXXXXX
XXXXXXX
XXXXXX
XXXXXXX
Secretary
Treasurer and Director
XXXX X.X.
XXXXXX
Signed:
XXXX H.C.
XXXXXX
XXXX X.X. XXXXXX
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