Exhibit 10.1
[LETTERHEAD OF SUNERGY, INC.]
Commercial Finance Agreement
January __,2011
Between: Allied Mining and Supply, LLC, Borrower
14362 N Xxxxx Xxxxx Xxxxxx Blvd Suite 1000
Xxxxxxxxxx, XX 00000
And: Sunergy, Inc, Guarantor
14362 N Xxxxx Xxxxx Xxxxxx Blvd Suite 1000
Xxxxxxxxxx, XX 00000
And ___________________________________ Lender
___________________________________
___________________________________
Allied Mining and Supply, LLC, a Sunergy wholly owned subsidiary, is purchasing
a commercial dredge custom built for recovering gold, diamonds and rare earth
elements (REE's) on its Xxxxxxx River Concession in Sierra Leone, West
Africa.(Identified in attachment below) Allied is desirous of obtaining
financing for the dredge purchase of $50,000 which includes freight and
insurance to Sierra Leone.
Allied is offering the following terms for financing: Upon receipt of $50,000,
Allied will repay $62,500 in 4 equal installments of $15,625 commencing on the
120th day(4th month) from receipt of funds, with the account to be settled in
full on or before the 210th day(7th month).
As an inducement to lender to enter into this agreement, Sunergy, Inc., the
parent company of Allied , will issue 5,000,000 restricted common shares with
5,000,000 share purchase warrants priced at $0.005 valid for 1 year immediately
upon receipt of the $50,000. In addition, as additional security, should lender
not receive his payment in full on or before the due date, Sunergy, Inc, as
guarantor, will be responsible for a $500/ day default penalty and remain fully
responsible for any and all outstanding debt owed to lender under this
agreement.
Lender hereby authorizes Allied Mining and Supply, LLC to transport and operate
the dredge in Sierra Leone, West Africa. Lender is hereby granted a first and
only security charge against the dredge.
Jurisdiction for any disputes pertaining to this agreement is in the State of
Nevada and shall be resolved by Arbitration.
This is the entire agreement between the parties.
Agreed and accepted on the date above referenced by:
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Allied Mining and Supply, LLC, Borrower
Xxxx Xxxxxxxx, President 707.758.5859 xxxx@xxxxxxxxxxxxxxxxxxxxx.xxx
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Sunergy, Inc, Guarantor
Xxxxx Xxxxxx, President 707.738.4280 xxxxx@xxxxxxxxxxxxxxxxxxxxx.xxx
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Lender
Attached as a part of this agreement: Purchase agreement for Dredge
