EXHIBIT 10.9
PENGE CORP
a ▇▇▇▇▇▇▇ company
AGREEMENT BETWEEN PENGE CORP AND ▇▇▇▇▇▇ AND ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
PENGE CORP
▇▇▇▇ ▇▇▇▇▇▇▇ - CEO
▇▇ ▇▇▇▇▇▇ - CFO
▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇-▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇ AND ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇ ▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
January 5, 2006
TO WHOM IT MAY CONCERN:
WHEREAS, Penge Corp. and ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ have determined it
in the best interests of both parties to amend the $500,00 note payable
and the $200,000 note payable from Penge Corp to ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇
▇▇▇▇▇▇;
RESOLVED, Penge Corp. will assume the American State Bank loan balances
for loan #3435245-00 as they existed on December 31, 2005 and the loan
assumption balance will be deducted from the $500,000 note payable to
the ▇▇▇▇▇▇'▇ from Penge Corp dated March, 2005. In addition, Penge Corp
will pay $100,000 towards the $200,000 note payable due to the ▇▇▇▇▇▇'▇
in January, 2006 and will continue to carry the remaining payment
balance of $100,000 for another year with an interest rate amended to
12% annually with interest payments due quarterly beginning April 1st,
2006;
Penge Corporation ▇▇▇▇▇▇'▇
/s/ ▇▇▇▇ ▇▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
-------------------------------- -----------------------------------
▇▇▇▇ ▇▇▇▇▇▇▇, CEO Penge Corp ▇▇▇▇▇▇ ▇▇▇▇▇▇
/s/ ▇▇ ▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
-------------------------------- -----------------------------------
▇▇ ▇▇▇▇▇▇, President Penge Corp ▇▇▇▇▇▇▇ ▇▇▇▇▇▇