Attached files

file filename
8-K - CURRENT REPORT DATED 5-20-11 - SUNERGY INCg5161.txt
EX-10.3 - FORM OF SUBSCRIPTION AGREEMENT - SUNERGY INCex10-3.txt
EX-10.1 - FORM OF COMMERCIAL FINANCE AGREEMENT - SUNERGY INCex10-1.txt

                                                                    Exhibit 10.2

                         [LETTERHEAD OF SUNERGY, INC.]



                      Commercial Short Term Loan Agreement

March __,2011

Between: Allied Mining and Supply, LLC, Borrower
         14362 N Frank Lloyd Wright Blvd Suite 1000
         Scottsdale, AZ 85260

And:     Sunergy, Inc, Guarantor
         14362 N Frank Lloyd Wright Blvd Suite 1000
         Scottsdale, AZ 85260

And      ___________________________________ Lender
         ___________________________________
         ___________________________________

Allied Mining and Supply, LLC, a Sunergy wholly owned subsidiary,  has purchased
3 commercial  dredges custom built for recovering gold,  diamonds and rare earth
elements (REE's) on its Pampana River  Concession in Sierra Leone,  West Africa.
Allied is desirous of obtaining  short term loan  financing for operating  these
dredges.  The dredge  operations should produce adequate cash flow to repay this
loan.

Allied is offering the following terms for financing:  Upon receipt of $ 15,000,
Allied  will repay in 90 days an amount  equal to $17,500 as full  payment  plus
interest.  As an  inducement  to lender to enter into this  agreement,  Sunergy,
Inc., the parent company of Allied , will issue 300,000 restricted common shares
with  300,000  share  purchase  warrants  priced  at  $0.0075  valid  for 1 year
immediately upon receipt of the $15,000.  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 $100/ day default penalty
and remain fully  responsible  for any and all  outstanding  debt owed to lender
under this agreement.  This loan is  collateralized  by 5,000,000  common shares
plus 5,000,000 share purchase warrants at $0.0075 exercisable for 1 year. In the
event of any default,  lender shall be able to convert the  outstanding  balance
owed to the common share collateral provided by Sunergy.

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: -------------------------------------------------------------------- Allied Mining and Supply, LLC, Borrower Dale Bourassa, President 707.758.5859 dale@alliedminingandsupply.com -------------------------------------------------------------------- Sunergy, Inc, Guarantor Bryan Miller, President 707.738.4280 bryan@alliedminingandsupply.com -------------------------------------------------------------------- Lender Attached as a part of this agreement: Purchase agreement for Dredge Sunergy, Inc Bank Info for wiring funds: Chase Bank NA 11355 E Via Linda Scottsdale AZ 85259 Account ABA 122100024 Sunergy Inc 14362 N. Frank Lloyd Wright Blvd Scottsdale, AZ 85260 480.399.722