##### 



Exhibit 10.25
 PORTIONS
OF THIS EXHIBIT MARKED BY ***HAVE BEEN OMITTED PURSUANT TO A
REQUESTFOR CONFIDENTIAL TREATMENT FILED SEPARATELYWITH THE
SECURITIES AND EXCHANGE COMMISSION
 PULPWOOD SUPPLY AGREEMENT
 BY AND BETWEEN
 TIN INC., as Purchaser
 AND
 CPT LOGCO, LLC, as Seller




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##### 



Table of Contents
 ARTICLE I DEFINITIONS
    
    1Section 1.1
    
    Definitions
    
    1ARTICLE II HARVEST VOLUMES
    
    7Section 2.1
    
    Obligation to Purchase and Sell
    
    7Section 2.2
    
    Annual Plan and Forecast Plan
    
    7Section 2.3
    
    Obligated Volume
    
    7Section 2.4
    
    Uncommitted Volume and Quarterly Meetings
    
    8Section 2.5
    
    Biomass
    
    8Section 2.6
    
    Post-Harvest Carbon Rights
    
    8ARTICLE III PRODUCT SPECIFICATIONS
    
    9Section 3.1
    
    Product Specifications
    
    9Section 3.2
    
    Rejected Product
    
    9ARTICLE IV PRICE SCHEDULE
    
    9Section 4.1
    
    Base Price
    
    9Section 4.2
    
    Quarterly Price
    
    9ARTICLE V DELIVERY, FORCE MAJEURE AND PAYMENT
    
    10Section 5.1
    
    Delivery, Scaling and Weighing
    
    10Section 5.2
    
    Force Majeure
    
    12Section 5.3
    
    Change in Mill Operations
    
    13Section 5.4
    
    Payment
    
    13ARTICLE VI TERM
    
    13Section 6.1
    
    Term
    
    13Section 6.2
    
    Extension of Term
    
    14Section 6.3
    
    Termination
    
    14Section 6.4
    
    Effect of Termination
    
    14ARTICLE VII REPRESENTATIONS AND WARRANTIES
    
    14Section 7.1
    
    Representations and Warranties of Purchaser
    
    14Section 7.2
    
    Representations and Warranties of Seller
    
    15ARTICLE VIII SELLERS MANAGEMENT
    
    16Section 8.1
    
    Sellers Management
    
    16ARTICLE IX DEFAULT AND DISPUTE RESOLUTION
    
    17Section 9.1
    
    Default by Purchaser
    
    17Section 9.2
    
    Default by Seller
    
    17Section 9.3
    
    Specific Performance
    
    18Section 9.4
    
    Liquidated Damages
    
    18Section 9.5
    
    Assignment of Agreement
    
    18Section 9.6
    
    Dispute Resolution
    
    19ARTICLE X INDEMNITY AND INSURANCE
    
    20Section 10.1
    
    Purchasers Indemnity
    
    20Section 10.2
    
    Sellers Indemnity
    
    21Section 10.3
    
    Insurance
    
    21Section 10.4
    
    Notice of Claim
    
    22ARTICLE XI ASSIGNMENT AND TRANSFERS
    
    22Section 11.1
    
    Sellers Assignment Rights
    
    22
 -ii-




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##### 



Section 11.2
    
    Purchasers Assignment Rights
    
    22ARTICLE XII AUDIT RIGHTS
    
    22Section 12.1
    
    Audit Rights
    
    22ARTICLE XIII NOTICES
    
    23Section 13.1
    
    Notices
    
    23ARTICLE XIV MISCELLANEOUS
    
    24Section 14.1
    
    Amendments
    
    24Section 14.2
    
    Recording of Agreement
    
    24Section 14.3
    
    Compliance with Laws
    
    24Section 14.4
    
    Confidentiality
    
    24Section 14.5
    
    Estoppel Certificates
    
    24Section 14.6
    
    No Waiver; Remedies
    
    25Section 14.7
    
    Accounting Terms
    
    25Section 14.8
    
    Binding Effect; Governing Law
    
    25Section 14.9
    
    Counterparts
    
    25Section 14.10
    
    Time of the Essence
    
    25Section 14.11
    
    Incorporation of Exhibits and Schedules
    
    25Section 14.12
    
    Interest
    
    25Section 14.13
    
    Further Assurances
    
    25Section 14.14
    
    Most Favored Status
    
    25Section 14.15
    
    Attorneys Fees
    
    26Section 14.16
    
    Severability
    
    26Section 14.17
    
    Captions and Headings
    
    26Section 14.18
    
    Construction
    
    26Section 14.19
    
    Relationship
    
    26Section 14.20
    
    Integration
    
    27Section 14.21
    
    Uniform Commercial Code
    
    27
 INDEX
 SCHEDULESSchedule 1
    
    SpecificationsSchedule 2
    
    2008 Annual PlanSchedule 3
    
    2008 Forecast Plan (for years 2009-2011)Schedule 4
    
    Allocation of Annual Harvest VolumeSchedule 5
    
    Freight AdjustmentSchedule 6
    
    Initial Price and Base PriceSchedule 7
    
    Pricing ExampleSchedule 8
    
    Distinctive SitesSchedule 9
    
    Biomass Harvest Locations
 EXHIBITSExhibit A
    
    Description of PropertyExhibit B
    
    Form of Support Agreement
 -iii-




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##### 



PULPWOOD SUPPLY AGREEMENT
 Agreement st Effective Date Purchaser Seller
 RECITALS
 A.
    
    Purchaser and Landowner entered into that certain Purchase Agreement dated August 3,
2007, as amended by that certain Amended and Restated Purchase Agreement dated October 31,
2007 (as amended, the Purchase Agreement), pursuant to which Purchaser sold and Crown
Pine Timber 1, L.P., a Delaware limited partnership, Crown Pine Timber 2, L.P., a Delaware
limited partnership, Crown Pine Timber 3, L.P., a Delaware limited partnership, and Crown
Pine Timber 4, L.P., a Delaware limited partnership (collectively, Landowner), acquired
approximately 1,469,507 acres of real property located in Anderson, Angelina, Cherokee,
Houston, Jefferson, Liberty, Nacogdoches, Orange, Panola, Rusk, San Jacinto, Shelby,
Trinity, Newton, Sabine, San Augustine, Hardin, Jasper, Polk and Tyler Counties, Texas; and
Allen, Beauregard, Calcasieu, Jefferson Davis, Rapides, Sabine and Vernon Parishes,
Louisiana, being more particularly described in Exhibit Aattached hereto (the Property);
andB.
    
    Purchaser and Crown Pine Parent, L.P., a Delaware limited partnership, of which each
entity constituting Landowner is a wholly owned subsidiary, are simultaneously entering
into a Pulpwood Support Agreement substantially in the form attached hereto as Exhibit B
(the Support Agreement), pursuant to which Landowner is providing certain assurances and
agreements to Purchaser with respect to the availability of the cutting rights contemplated
and required by this Agreement; andC.
    
    Purchaser desires to buy and receive, and Seller desires to sell, deliver and provide
Product (as defined herein) from the Property; andD.
    
    Purchaser and Seller desire to purchase and sell Product pursuant to the terms of this
Agreement at the fair market price;
  ARTICLE I
 DEFINITIONS
 Definitions.
 AAA




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##### 



Acts of God
 Affiliate
 Agreement
 Annual Harvest Option Volume
 Annual Harvest Volume
 Annual Juvenile Wood Percentage
 Annual Minimum Volume Schedule 4
 Annual Plan
 Base Price rd
 Biomass
 Biomass Offer
 Carbon Rights
 2




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##### 



Carryover Volume
 Certificate of Insurance
 Change Event
 Conservation Block Exhibit A
 Delivery Plan
 Delivery Point
 Distinctive Site Schedule 8
 Effective Date
 Environmental Laws et seq et
seq et seq et seq et
seq et seq et seq.
 3




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##### 



Final Quarterly Price
    Force Majeure
 Forecast Plan
 Freight Adjustment Schedule 5
 4




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##### 



Harvest Year
 Initial Option Period
 Juvenile Wood
 Liens
 Master Stumpage Agreement
 Mill
 Obligated Volume
 Obligation Floor
 Option
 Panel
 Panel Chairman
 Person
 Price Dispute
 5




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##### 



Primary Delivery Zone
 Product
 Property
 Pulpwood
 Purchaser
 Purchaser Event of Default
 Purchaser Indemnitee
 Quarterly Delivery Variance
 Quarterly Price
 Renewal Period
 Residual Biomass
 SFI Standards
 Secondary Delivery Zone
 Seller
 Seller Event of Default
 Seller Indemnitee
 Specifications
 6




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##### 



Schedule 1
 Substitute Products
 Term
 Termination Date
  *** Adjustment Factor
 Transfer
 Uncommitted Volume
 ARTICLE II
 HARVEST VOLUMES
 Obligation to Purchase and Sell.
 Annual Plan and Forecast Plan. Schedule 2 Schedule 3
 Obligated Volume.
 7




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##### 



Uncommitted Volume and Quarterly Meetings.
 Biomass. Biomass Offer Schedule 9
 Post-Harvest Carbon Rights
 8




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##### 



ARTICLE III
 PRODUCT SPECIFICATIONS
 Product Specifications.
 Rejected Product.
 ARTICLE IV
 PRICE SCHEDULE
 Base Price. Schedule 6
 Quarterly Price
 9




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##### 



Schedule 7
 ARTICLE V
 DELIVERY, FORCE MAJEURE AND PAYMENT
 Delivery, Scaling and Weighing.
 Delivery Plan
 Calendar Quarter
    
    Percentage of Obligated Volume1
    
    ***2
    
    ***3
    
    ***4
    
    ***
 Quarterly Delivery Variance
 Substitute Products
 10




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##### 



Carryover
Volume
   11




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##### 



Force Majeure.
  12




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##### 



Change in Mill Operations.
 Payment.
 ARTICLE VI
TERM
 Term. Term
 13




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##### 



Extension of Term . Option Initial
Option Period Renewal Period
 Termination.
 Effect of Termination.
 ARTICLE VII
 REPRESENTATIONS AND WARRANTIES
 Representations and Warranties of Purchaser.
   14




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##### 



Purchasers knowledge
 Representations and Warranties of Seller.
    15




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##### 



Sellers knowledge
 ARTICLE VIII
 SELLERS MANAGEMENT
 Sellers Management.
 16




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##### 



ARTICLE IX
 DEFAULT AND DISPUTE RESOLUTION
 Default by Purchaser. Purchaser Event of Default
     Default by Seller. Seller Event of Default
    17




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##### 



Specific Performance.
 Liquidated Damages
 Assignment of Agreement.
 18




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##### 



Dispute Resolution.
 Dispute Notice
  Panel Chairman Panel.
   19




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##### 



Price Dispute
 (i)
    
    Within fifteen (15) days after the selection of the Panel, each
party will submit in writing to the Panel its position with respect to the
price or cost in dispute and any materials such party wishes to submit
supporting the use of the proposed purchase and sale price.(ii)
    
    Within fifteen (15) days following the submission of the
position of each party, the Panel will choose one of the two submitted
positions (and no other) based upon the Panels determination of the position
that better reflects the actual market price or cost at issue. If only one
position is submitted, the Panel will choose such position.(iii)
    
    The Panel shall assess the costs of such arbitration and
reasonable attorney fees against the party whose position was not chosen or who
did not submit a position.
    ARTICLE X
 INDEMNITY AND INSURANCE
 Purchasers Indemnity. Seller Indemnitee
 20




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##### 



Sellers Indemnity. Purchaser Indemnitee
 Insurance.
    (i)
    
    Each accident  $100,000,(ii)
    
    Disease (policy)  $500,000, and(iii)
    
    Disease (each employee)  $100,000; and
  21




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Notice of Claim.
 ARTICLE XI
 ASSIGNMENT AND TRANSFERS
 Sellers Assignment Rights.
 Purchasers Assignment Rights.
 ARTICLE XII
 AUDIT RIGHTS
 Audit Rights.
 22




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##### 



ARTICLE XIII
 NOTICES
 Notices.
 Purchaser:
    
    TIN Inc.303 South Temple DriveDiboll, Texas 75941Attention: Group Vice President
                  Building ProductsFacsimile: (936) 829-1248E-mail: JackSweeny@templeinland.comCopy to:
    
    Temple-Inland Inc.1300 S. Mopac ExpresswayAustin, Texas 78746Attention: General CounselFacsimile: (512) 434-8051E-mail: GeorgeVorpahl@templeinland.comSeller:
    
    CPT LogCo, LLCc/o The Campbell Group1 SW Columbia, Suite 1700Portland, Oregon 97258Attention: Jerry BrodieFacsimile: (503) 275-9667E-mail: JBrodie@campbellgroup.com
 23




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##### 



Copy to:
    
    Schwabe, Williamson & Wyatt1211 SW Fifth Avenue, Suite 1800Portland, Oregon 97204Attention: Kirk JohansenFacsimile: (503) 796-2900E-mail: kjohansen@schwabe.com
  ARTICLE XIV
 MISCELLANEOUS
 Amendments.
 Recording of Agreement.
 Compliance with Laws.
 Confidentiality.
 Estoppel Certificates.
 24




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##### 



No Waiver; Remedies.
 Accounting Terms.
 Binding Effect; Governing Law.
 Counterparts.
 Time of the Essence.
 Incorporation of Exhibits and Schedules.
 Interest. Wall Street
Journal
 Further Assurances.
 Most Favored Status.
 25




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##### 



Attorneys Fees.
 Severability.
 Captions and Headings.
 Construction.
 Relationship.
 26




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##### 



Integration.
 Uniform Commercial Code .
 [Signature Pages Follow]
 27




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##### 



IN WITNESS WHEREOF,
 PURCHASERTIN INC., a Delaware corporationBy:Name:Title:
 [Seller Signature Page Follows]
 28




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##### 



SELLER:CPT LOGCO, LLC, a Delaware limited 
liability
companyBy:Name:
    
    Stanley G. ReneckerTitle:
    
    Authorized Signatory
 29




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##### 



SCHEDULE 1
 SPECIFICATIONS
     
    
       Schedule 1




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##### 



SCHEDULE 2
 2008 ANNUAL PLAN
 Compstand
    
    Est. Year
    
    County
    
    Technique
    
    Harvest Acres
    
    Total PP***
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***
 Schedule 2




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SCHEDULE 3
 2008 FORECAST PLAN
 2009 Pine Pulpwood Forecast
 Product
    
    
    
    TonsBUNA AREA
    
    Sum of Pine Pulpwood ***
    
    
    
    ***Sum of Pine Pulpwood ***
    
    
    
    ***Total
    
    ***DIBOLL AREA
    
    Sum of Pine Pulpwood ***
    
    
    
    ***Sum of Pine Pulpwood ***
    
    
    
    ***Total
    
    ***PINELAND AREA
    
    Sum of Pine Pulpwood ***
    
    
    
    ***Sum of Pine Pulpwood ***
    
    
    
    ***Total
    
    ***DEQUNICY AREA
    
    Sum of Pine Pulpwood ***
    
    
    
    ***Sum of Pine Pulpwood ***
    
    
    
    ***Total
    
    ***Total Pine Pulpwood ***
    
    ***Total Pine Pulpwood ***
    
    ***Grand Total
    
    ***2010 Pine Pulpwood ForecastTotal Pine Pulpwood
    
    ***
 ***
 Schedule 3




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##### 



SCHEDULE 4
 ANNUAL MINIMUM VOLUME
 Annual Minimum VolumesMinimum Annual PPW Harvest Plan (000 Tons)YEAR
    
    NTX
    
    STX
    
    LA
    
    CONS
    
    TOTAL2008
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2009
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2010
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2011
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2012
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2013
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2014
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2015
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2016
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2017
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2018
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2019
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2020
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2021
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2022
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2023
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2024
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2025
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2026
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2027
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2028
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2029
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2030
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2031
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***2032
    
    ***
    
    ***
    
    ***
    
    ***
    
    ***
 Schedule 4




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SCHEDULE 5
 FREIGHT ADJUSTMENT
  A
    
    Base Haul Rate
$*** per loaded ton-mi as the base $  per loaded ton-mile trucking CostB
    
    Benchmark Fuel Price
$*** per gallon as the base $  per gallon retail on-highway diesel priceC
    
    Current Fuel Price
Based on ***D
    
    ***E
    
    ***
***F
    
    Rate Adjustment Factor
***G
    
    Current Haul Rate
***
  CalculationA
    
    Base Haul Rate
    
    $***B
    
    Benchmark Fuel Price
    
    $***C
    
    Current Fuel Price
    
    $***D
    
    ***
    
    ***
    
    ***E
    
    ***
    
    ***F
    
    Rate Adjustment Factor
    
    ***
    
    ***G
    
    Current Haul Rate
    
    $***
    
    ***
 Schedule 5




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##### 



SCHEDULE 6
 BASE PRICE
 3Q 04
    
    4Q 04
    
    3Q 05
    
    4Q 05
    
    3Q 06
    
    4Q 06
    
    3Q 07Louisiana
    
    Zone 1
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **Texas
    
    Zone 2
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **Texas
    
    Zone 1
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **Average Delivered using *** Adjustment Factor
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **
    
    $
    *
    **Base Price
    
    $
    *
    ***** Adjustment Factor
    
    
    
    
    
    
    
    
    
    Average prior three years *** Adjustment Factor
    
    
    *
    **%***%
    
    
    LA1***%
    
    
    TX2
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Quarterly Price
    
    $
    *
    *****%
    
    
    TX1
 Schedule 6




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##### 



SCHEDULE 7
 PRICING EXAMPLE
 PINE PULPWOOD DELIVERED PRICING TIMETABLE AND PRICE CALCULATION
   Schedule 7




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##### 



SCHEDULE 8
 DISTINCTIVE SITES
 SITE
    
    ACRES
    
    DESCRIPTION
    
    LOCATION***
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ******
    
    ***
    
    ***
    
    ***
 Schedule 8




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SCHEDULE 9
 BIOMASS HARVEST LOCATIONS
  Schedule 9




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##### 








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PULPWOOD SUPPORT AGREEMENT