Document:

Exhibit 10.33

 

TEMPORARY AMENDMENT

TO PURCHASE AGREEMENT

 

                This Temporary Amendment to Purchase Agreement (“Agreement”) dated as of the date first set
forth below (the “Effective Date”) is entered into by and between Great Plains Ethanol, LLC, a South Dakota
limited liability company (the “Buyer”),
with, for purposes of this Agreement, an address of 27716 462nd Ave.,
Chancellor, South Dakota 57015, and Mueller
Pallets, LLC, a South Dakota limited liability company (the “Seller”), with, for the purposes of this
Agreement, an address of 27059 Mueller Place, Sioux Falls, South Dakota 57108.

 

RECITALS

 

                WHEREAS, Seller is in the business of selling scrap wooden
pallets, wood chips and related scrap wood products (the particular “Product” which Buyer shall purchase pursuant to this
Agreement is more specifically defined in Article IV, below);

 

                WHEREAS, Seller and Buyer entered into a Purchase Agreement
dated December 27, 2006 (the “Initial Purchase Agreement”)
(a copy of which is attached hereto as Exhibit A and incorporated
herein by this reference) whereby Buyer agreed, subject to certain terms and
conditions to purchase Product from Seller;

 

                WHEREAS, Seller and Buyer desire to temporarily modify the
terms of the Initial Purchase Agreement by and through this Agreement;

 

                WHEREAS, Seller and Buyer acknowledge and agree that this
Agreement shall be in substitution of all duties and obligations of the parties
arising under the Initial Purchase Agreement for that period of time from December 1,
2007 through and including July 18, 2008, subject to extension by Buyer on
a week-to-week basis, but only for that period from July 18, 2008 through
and including September 1, 2008, upon notice to Seller (the “Substituted Agreement Period”); and

 

                WHEREAS, Seller and Buyer acknowledge and agree that, upon
expiration of the Substituted Agreement Period, this Agreement shall expire and
all duties and. obligations under the Initial Purchase Agreement shall again
become valid and enforceable for the remainder of the term of the Initial
Purchase Agreement (as set forth in Article III of the Initial Purchase
Agreement).

 

                NOW THEREFORE, in consideration of mutual covenants contained
herein, the parties agree, for the duration of the Substituted Agreement
Period, as follows:

 

 

1

 

ARTICLE I

Quantity and Payments

 

                In substitution of its
obligations to make purchases from Seller under the Initial Purchase Agreement
for that period from December 1, 2007 though the expiration of the Substituted
Agreement Period, Buyer shall purchase and prepay from Seller a total of 13,860
tons of Product. Buyer commits to purchase and prepay for Fifteen Thousand
Dollars ($15,000.00) of Product per week for thirty-three (33) weeks for a
prepay purchase total of Four Hundred Ninety-Five Thousand Dollars
($495,000.00) during the Substituted Agreement Period. Such purchases by Buyer
and payments to Seller shall be deemed full satisfaction of Buyer’s obligations
under the Initial Purchase Agreement for that period from December 1,
2007, through and including July 18, 2008, subject to Buyer’s right to
extend the Substituted Agreement Period on a week-to-week basis upon notice to
Seller. The first eleven (11) of the thirty-three (33) payments shall be made
by Buyer to Seller by personal delivery of a check to Seller’s business no
later than February 20, 2008 in the amount of $l65,000.00. If the
Substituted Agreement Period is extended by Buyer as allowed herein, Buyer
shall make additional $15,000.00 payments to Seller, one such payment for each
week the Substituted Agreement Period is extended by Buyer. In addition to the
$165,000 payment, Buyer shall pay to Seller the sum of $6,600.00 in sales tax
as part of the initial payment. This payment of $165,000 plus applicable sales
tax shall be for 4,620 tons of Product which Seller shall store for Buyer
pursuant to the terms of Article II of this Agreement unless otherwise
directed by Buyer.

 

                Buyer shall make the remaining
payments on a weekly basis, with payments to be made on Thursday of each week;
unless such day is a holiday then payment shall be made on the next business
day that is not a legal holiday until the remaining twenty-two (22) payments
are made.  For purposes of this Article I,
a payment is deemed made when deposited with the United States Postal Service,
first class postage prepaid. All payments shall be subject to applicable state
and local sales taxes and the actual amount of the weekly payment from Buyer to
Seller shall be adjusted to include applicable taxes. Seller shall provide
Buyer with the amount of sales tax due on a per payment basis. Seller shall
issue receipts for each payment received from Buyer on a weekly basis reciting
the amount of the payment, applicable sales taxes included.

 

ARTICLE II

Storage

 

                Seller shall store, at Seller’s
place of business or such other locations designated and used by Seller for
storage, all of Buyer’s Product purchased and prepaid pursuant to 

 

 

2

 

this
Agreement.  Buyer acknowledges that
Seller will stockpile Buyer’s Product at several different locations.  Buyer shall have the right to personally
inspect such stockpiles upon 24 hours notice to Seller and during Seller’s
normal business hours. In the absence of Seller’s gross negligence or willful
misconduct, the risk of loss for the Product shall be on Buyer.

 

ARTICLE III

Term

 

                The Term of this Agreement shall
be for the Substituted Agreement Period, as defined above.  Upon the expiration of the Term of this
Agreement, the Initial Purchase Agreement shall again become valid and
enforceable obligations of the parties and for the remainder of the term of the
Initial Purchase Agreement (as set forth in Article III of the Initial
Purchase Agreement).

 

ARTICLE IV

Product

 

                The Product to be purchased by
Buyer from Seller pursuant to this Agreement shall be “2” minus” “wet” Product.
The acceptable moisture range of the Product shall be 15% to 30% upon delivery
to Buyer.

 

ARTICLE V

Delivery of Product and Fuel-Related Surcharge

 

                                                A.            Delivery
of Product. Unless the Substituted Agreement Period is extended by
Buyer, Seller shall store the Product on behalf of Buyer until the 18th day of July 2008.  If Buyer is not prepared to begin accepting
shipments of the stored Product on July 18, 2008 or the last of the
week-to-week extensions of the Substituted Agreement Period, if any, Buyer
agrees to make alternative arrangements for the Product’s storage given the
limited space available for Seller to store Buyer’s Product.

 

                The stored Product shall be
delivered as follows: Subject to Buyer’s right to  extend the Substituted Agreement Period, as
of July 18, 2008, the Initial Purchase Agreement shall take effect and
Buyer must begin purchasing and receiving a minimum of 150 tons per day of
Product from Seller pursuant to the terms of the Initial Purchase Agreement.
Provided Buyer has purchased the minimum of 150 tons per day, Buyer may also
request that Seller deliver up to an additional 84 tons per day (i.e., four
truckloads) of the stored Product. Such delivery of the additional product will
depend upon the availability of Seller’s trucks on any particular date, but
Seller agrees to make delivery of the stored Product to Buyer its
priority.  Seller shall deliver the
stored Product to Buyer’s 

 

 

3

 

place
of business (to that area designated by Buyer for receipt and storage of the
Product) located near Chancellor, South Dakota, as instructed by Buyer.  Should Buyer want the stored Product delivered
elsewhere, Seller will advise Buyer of increase in cost due to additional
transportation charges, if any, prior to such delivery and Buyer shall pay such
increase in cost if Buyer desires to have the Product delivered to the
alternative location. Seller shall make all deliveries of Product during Buyer’s
normal hours of operation.  Buyer shall
provide Seller with a proposed delivery schedule for both the new Product and
the stored Product on a week-by-week basis at least one week in advance of the
week of delivery.  Seller may alter Buyer’s
delivery schedule upon a three (3) day notice to Buyer.

 

                B.   Fuel-Related
Surcharge. Upon delivery of the stored Product, Buyer shall pay
Seller any Fuel-Related Surcharge as defined in Article IV, subsection C of
the Initial Purchase Agreement.  The Fuel
Related Surcharge will be invoiced by Seller to Buyer at the time of
delivery.  Any state or local sales taxes
payable on the Fuel Related Surcharge shall be included in such invoices. All
such invoices shall be paid to Seller by Buyer no later than the last day of
the month in the month immediately following the month in which the invoices
are received by Buyer from Seller.

 

                C.   Contents
of Product.  Seller shall
provide Product of such quality as set forth in Article V, subsection B of
the Initial Purchase Agreement.

 

                D.   Examination
of Goods.  Buyer has the right
to examine the Product upon receipt. 
Buyer shall have a period often (10) days after receipt of any
particular delivery of Product in which to reject the Product or to notify
Seller of any claim for damages based on the condition, grade, quality or
quantity of the Product.  Any particular
delivery of Product to Buyer shall be deemed accepted by Buyer unless Seller
receives notice pursuant to this Article V.

 

ARTICLE VI

Seller’s Warranties

 

                                                A.            Availability
of Product. In the event that the all of the stored Product is not
available to Buyer as a result of Seller’s gross negligence or willful
misconduct, Seller will procure like Product from another source to fulfill all
of Seller’s obligations hereunder and Seller shall provide the same to Buyer
for the price set forth in this Agreement. 
In the event Seller is unable to procure like Product to fulfill its
obligations, Seller will reimburse Buyer for the costs of any replacement
Product purchased by Buyer less the price set forth in this Agreement. Seller
shall further reimburse Buyer for any and all additional costs associated with
Buyer’s purchase of substitute Product including, but not limited to increased
costs of transportation.

 

 

4

 

                                                B.            Quality
of Product. Seller shall, at all times, exert best efforts and all
due diligence to assure that the Product is suitable for the intended use by
Buyer.  In addition, Seller shall take
all actions, within the control of Seller, to assure that the quality of
Product remains reasonably constant such that all Product shall be suitable for
Buyer’s intended use. For purposes of this Agreement, if the delivered Product
conforms with the requirements of Article IV and Article V subsection
C, above, it shall be considered suitable for Buyer’s intended use. Seller
shall not sell to Buyer any Product that does not comply with Article IV
and Article V subsection C, above.

 

                                                C.            Product
Unencumbered. Seller expressly warrants that the stored Product shall
be, at all time, free from any and all security interest, liens, and
encumbrances, except security interests in the Product granted to Buyer by
Seller.

 

                                                D.            Authority.
Seller expressly warrants that the individual executing this Agreement on
behalf of Seller is frilly authorized to do so and that no further action or
consent on the part of Seller or any representative of Seller is necessary to
bind Seller to this Agreement and to allow enforcement of the terms and
conditions of this Agreement against Seller.

 

ARTICLE VII

Default

 

                                                A.            Events
of Default. The failure by Buyer or Seller to comply with any term, condition
or obligation arising under this Agreement shall constitute a default (“Default”).
Upon Default, the Non-defaulting Party shall give the Defaulting Party written
notice of the specific Default and shall allow Defaulting Party five (5) days
to cure the Default.

 

                                                B.            Remedies.  Upon an uncured Default, Non-Defaulting Party
shall be entitled at its discretion to exercise any and all remedies available
to it at law or in equity including, but not limited to, termination of this
Agreement without further notice and recovery of general damages, consequential
damages, any applicable injunctive relief and costs (including reasonable
attorneys’ fees). The Non-Defaulting Party may also exercise its right to
continue this Agreement upon notice to the Defaulting Party, despite the
default and any resulting recovery.

 

ARTICLE VIII

Insurance

 

                                                A.            Workers’
Compensation. Seller warrants to Buyer that all of Seller’s

 

 

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employees,
who may make deliveries to or who may otherwise be on Buyer’s property, shall
be covered (if required) by applicable workers’ compensation laws.

 

                                                B.            Automobile
Insurance. Seller agrees to carry insurance on its vehicles operating
on Buyer’s property in amounts satisfactory to Buyer.

 

                                                C.            Commercial
General Liability.  During the
Term of this Agreement, Seller shall purchase and maintain Commercial General
Liability insurance with combined single limits of not less than $1,000,000.00
and the policy shall be endorsed to require a thirty (30) day advance written
notice to Buyer of termination, cancellation or any other material change to
said policy.

 

                                                D.            Insurance
on Product.  Seller’s
insurance provides coverage for three “piles” of Product at $25,000 for each
pile. Buyer may provide additional insurance coverage, at Buyer’s option.

 

                                                E.             Proof
of Insurance.  Seller shall,
on an annual basis or upon renewal, whichever period of time is less, provide
proof of the existence of the foregoing policies of insurance to Buyer.

 

ARTICLE IX

Miscellaneous Provisions

 

                                                A.            Indemnification.  Seller shall indemnify and hold harmless
Buyer and its respective owners, officers, managers, directors, other
employees, agents, and assigns from any and all claims, damages, liabilities,
attorneys’ fees and expenses arising out of Seller’s violation of any of the
terms and conditions of this Agreement or any and all claims, damages,
liabilities, attorneys’ fees and expenses arising out of any claim based upon
the Product sold by Seller to Buyer or the acts or omissions of Seller. In the
same manner, Buyer shall hold Seller harmless for any and all claims, damages,
liabilities, attorneys’ fees and expenses arising out of any claim based upon
Buyer’s use of the Product, Buyer’s violation of any of the terms and
conditions of this Agreement, or the acts or omissions of Buyer.

 

                                                B.            Expenses
of Enforcement.  If Buyer or
Seller breaches or threatens to breach any of the covenants described in this
Agreement, then, in addition to any of the rights and remedies which the
Non-Breaching Party may have against the Breaching Party, the Breaching Party will
be liable to pay the Non-Breaching Party’s court costs and reasonable attorneys
fees incurred in enforcing this Agreement.

 

                                                C.            Severability.  If any provision of this Agreement shall be
held by a court of

 

 

6

 

competent
jurisdiction to be unenforceable or invalid, the remaining provisions will
remain in full force and effect. If any provision of this Agreement is held to
be overbroad as written, the provision shall be deemed amended to narrow its
application to the extent necessary to make it enforceable to the fullest
extent allowable.

 

                                                D.            Successors
and Assigns.  This Agreement
shall inure to the benefit of, and be valid, enforceable and binding upon, the
beneficiaries, heirs, successors, assigns, and transferees of both Seller and
Buyer. Neither party may assign this Agreement without the express written
consent of the other party, such consent not to be unreasonably withheld.

 

                                                E.             Presumptions.  In construing the terms of this Agreement, no
presumption shall operate in either party’s favor as a result of counsel’s role
in drafting this Agreement’s terms or provisions.

 

                                                F.             Waiver
of Breach.  The waiver by
Buyer or Seller of a breach of any covenant of this Agreement shall not operate
or be construed as a waiver of any subsequent or later breach by Buyer or
Seller.  No waiver by Buyer or Seller
shall be effective unless in writing.

 

                                                G.            Text
Controls.  The headings of
paragraphs and sections are included solely for convenience. If a conflict
exists between any heading and the text of this Agreement, the text shall
control.

 

                                                H.            Governing
Law.  All rights and
obligations arising out of or relating to this Agreement shall be governed by
and construed in accordance with the laws of the State of South Dakota..

 

                                                I.              Force
Majeure.  Neither Seller or
Buyer will be liable to the other for any failure or delay in performance of
any obligation under this Agreement due to events beyond its control,
including, but not limited to, fire, storm, flood, earthquake, explosion, act
of a public entity or terrorism, riots, civil disorders, sabotage, strikes,
lockouts, labor disputes, labor shortages, war, stoppages or slowdowns
initiated by labor, transportation embargoes, acts of God, or acts or
regulation or priorities of the federal, state or local government or branches
or agencies thereof.

 

 

7

 

(Signature pages follow)

 

 

8

 

                Dated this ____ day of February,
2008.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  MUELLER PALLETS, LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:
  

  	
  /s/
  Margaret E. Mueller

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Margaret
  E. Mueller, Manager

  

 

	
  STATE
  OF SOUTHDAKOTA

  	
  )

  
	
   

  	
  :

  
	
  COUNTY
  OF MNNEHAHA

  	
  )

  

 

                On this 20th day of
February, 2008, before me, the undersigned officer, personally appeared, Margaret E. Mueller, who acknowledged
herself to be the Manager of Mueller Pallets, LLC, a South Dakota limited
liability company, and that she as such Manager, being authorized so to do,
executed the same for purposes therein contained.

 

                IN WITNESS WHEREOF, I hereunto
set my hand and official seal.

 

	
   

  	
   

  	
   

  	
   

  	
  /s/
  Michelle DeJong

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Notary
  Public

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (SEAL)

  	
   

  	
   

  	
   

  	
  My
  Commission Expires: Feb. 8, 2011

  

 

 

9

 

                Dated this ____ day of February,
2008.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  GREAT PLAINS ETHANOL, LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:
  

  	
  /s/
  Rick Serie

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Rick
  Serie, Manager

  

 

	
  STATE
  OF SOUTH DAKOTA

  	
  )

  
	
   

  	
  :

  
	
  COUNTY
  OF MINNEHAHA

  	
  )

  

 

                On this 20th day of
February, 2008, before me, the undersigned officer, personally appeared, Rick Serie, who acknowledged himself to be
the Manager of Great Plains Ethanol, LLC, a South Dakota limited liability
company, and that he as such Manager, being authorized so to do, executed the
same for purposes therein contained.

 

                IN WITNESS WHEREOF, I hereunto
set my hand and official seal.

 

	
   

  	
   

  	
   

  	
   

  	
  /s/
  Michelle DeJong

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Notary
  Public

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (SEAL)

  	
   

  	
   

  	
   

  	
  My
  Commission Expires: Feb. 8, 2011

  

 

 

10

 

Exhibit A

 

“Initial Purchase Agreement”

 

 

11

 

PURCHASE
AGREEMENT

 

                This Purchase Agreement (“Agreement”) is between Great Plains
Ethanol, LLC, a South Dakota limited liability company (the “Buyer”), with, for
purposes of this  Agreement, an address
of 27716 462nd Ave., Chancellor, South Dakota 57015 and Mueller Pallets, LLC, a
South Dakota limited liability company (the “Seller”), with, for the purposes
of this Agreement, an address of 27059 Mueller Place, Sioux Falls, South Dakota
57108.

 

RECITALS

 

                WHEREAS, Seller is in the business of selling scrap wooden
pallets, wood chips  and related scrap
wood products (collectively “Product”);

 

                WHEREAS, Seller wants to enter into a contract to sell Product
to Buyer;

 

                WHEREAS, Seller is ready, willing and able to sell the Product
to the Buyer under the terms outlined in this Agreement; and

 

                WHEREAS, Seller acknowledges and agrees that this Agreement
does not guarantee Buyer will purchase any Product beyond the minimum quantity
designated herein.

 

                NOW THEREFORE, in consideration of mutual covenants contained herein,
the parties agree as follows:

 

ARTICLE I

Quantity

 

                                                A.            Minimum
and Maximum Product Purchase. Commencing on December  1, 2007, Buyer commits to
purchase a minimum of one hundred fifty (150) tons of Product per day from
Seller for each business day except legal holidays (“Minimum Purchase Amount”).
Seller will deliver Product to Buyer only on regular business days. Buyer may
also close its facilities or cease operations at its facilities for up to
twenty (20) business days in any calendar year. 
During these times, Buyer is not required to purchase the Minimum
Purchase Amount. If Buyer’s facility is closed for more than twenty (20) days
in any calendar year, however, Buyer will not be excused from its obligation to
purchase the Minimum Purchase Amount. The actual amount of Product purchased
will be based on an average per month. For instance, Buyer may purchase one
hundred twenty (120) tons of Product on one day, and one hundred eighty (180)
tons of Product on a 

 

1

 

succeeding
day, but Buyer’s purchases of Product for any given month shall average a
minimum of one hundred fifty (150) tons of Product per day.

 

                Buyer shall also have a first
right of refusal for all amounts of Product produced by Seller in excess of the
Minimum Purchase Amount. For all such amounts in excess of the Minimum Purchase
Amount, Seller shall notify Buyer of the existence of those excess amounts and
shall provide to Buyer an estimate of such excess amounts and the date upon
which those excess amounts will be available for purchase by Buyer.  Buyer shall have three (3) business days
from the receipt of such notice to exercise its first right of refusal and to
provide notice to Seller of such exercise. 
The pricing for all amounts purchased in excess of the Minimum Purchase
Amount shall be in accordance with, and shall not deviate from, those prices
set forth in Article IV, below.

 

                                                B.            Weekly
Estimates to Seller.  Buyer
will provide weekly requests to Seller  estimating the amount of Product that Buyer
will purchase in the following week. Buyer shall provide this information to
Seller no later than the Tuesday immediately preceding the week in which the
Product is to be delivered by Seller. Should the designated request day fall on
a legal holiday or other day in which Buyer’s office is not open for general
business, the request shall be submitted the next day which is not a legal
holiday or on which the Buyer’s office is open for general business. The
designated request day may be changed by agreement of the parties and lack of
such request from Buyer to Seller shall not, in any way, excuse Seller from
making available to Buyer the Minimum Purchase Amount.

 

ARTICLE II

Condition Precedent

 

                Seller agrees and acknowledges
that this Agreement shall be unenforceable against Buyer or Seller until such
time as Buyer’s Board of Managers approves and ratifies this Agreement.  The signing of this Agreement by an
authorized representative of Buyer is not to be construed as approval and
ratification by the Buyer’s Board of Managers. Seller agrees that upon Seller’s
execution of this Agreement, Seller’s commitment to supply Product to Buyer
will remain in effect for ninety (90) business days to enable Buyer to obtain
all financing it deems necessary, in its sole and absolute discretion, and to
obtain approval from Buyer’s Board of Managers. Should Buyer not obtain
approval from its Board of Managers within ninety (90) days after Seller’s
execution of this Agreement, Seller may — at its sole option — terminate this
Agreement upon written notice to Buyer.

 

2

 

ARTICLE III

Term

 

                The Term of this Agreement shall
be for a period of ten (10) years, commencing on December 1, 2007 (“Term”).

 

ARTICLE IV

Price and Payment

 

                                                A.            Initial
Purchase Price — “Dry” Product. Buyer shall pay to Seller $38.00  per ton (“Purchase Price”)
of “dry” “2” minus” Product delivered to Buyer. The Purchase Price shall
include handling, shipping and all similar charges, unless the Fuel-Related
Surcharge, below, is applicable at any given time.  In such instance the Purchase Price shall be
altered accordingly.  This material shall
be less than fifteen percent (15%) moisture to be considered “dry” material.

 

                                                i.                                          Buyer and
Seller agree that the first twenty (20) loads of “dry” Product delivered to
Seller by Buyer will be weighed and the average of those loads used as the
tonnage for all subsequent loads delivered by Buyer to Seller.  Buyer shall have the right to weigh
additional loads in the same manner as set forth above at such times and
intervals as deemed necessary by Buyer. 
In the event subsequent weights deviate from the initial weighing and
averaging, Buyer and Seller shall adjust subsequent deliveries accordingly.

 

                                                B.            Initial
Purchase Price “Wet” Product. The Purchase Price for “2”  minus” “wet” Product shall
be $35.00 per ton delivered. The tonnage for a wet load will be the average
tonnage for a “dry” load as set forth above, with Seller paying $3.00 per ton
less for a “wet” load.  This material
shall be between 15% to 50% moisture to be considered “wet” material. Absent
written direction from Buyer to the contrary, no more than twenty-five (25%) of
the total Product delivered to Buyer in any given month shall be “wet” Product,
unless approved by Buyer.

 

                                                C.            Fuel
Related Surcharge.  In the
event that the price of diesel fuel, as used  by the Seller, exceeds $3.25 per gallon,
then, and only as to loads delivered during the time of diesel fuel prices in
excess of $3.25 per gallon, a surcharge shall be added to the Purchase Price
for each such load (“Fuel-Related Surcharge”). The Fuel-Related Surcharge shall
be added at a rate of $17.50 per load for each whole increment of $0.25 per
gallon of diesel fuel in excess of $3.25 per gallon. For example, the
Fuel-Related Surcharge will be calculated as follows: $3.26 - $3.50 per gallon=
$17.50 per load; $3.51 - $3.76 per gallon = $35.00 per load; $3.77 - $4.02 per
gallon = $52.50 per load; $4.03 - $4.28 per gallon = $70.00 per load; $4.29 -
$4.54 per gallon = $87.50 per load etc.

 

3

 

                                                D.            Adjustment
to Purchase Price. No adjustment (other than the  Fuel-Related Surcharge) to
the Purchase Price for any Product shall be made during the first three (3) years
of the Term of this Agreement. On January 1, 2011 and on January 1 of
each succeeding year of the remainder of the Term of this Agreement (“Price  Adjustment Date”), the Purchase Price for
Product may, by mutual agreement of the parties, be increased by a maximum of
four percent (4%) per year, but only upon sufficient proof from Seller to Buyer
that Seller’s costs of raw materials has increased over the twelve (12) month
period prior to the Price Adjustment Date. 
Such proof shall be submitted to Buyer on the 15th day of December prior
to the next Price Adjustment Date.  It is
the intent of the parties that the Purchase Price only be adjusted in
accordance with the actual increase in raw materials cost to the Seller.  However, in no instance shall the adjustment
to the Purchase Price exceed four percent (4%) on any one Price Adjustment
Date.

 

                For instance, if Seller
demonstrates (by providing invoices, statements, bills, or  otherwise) that Seller’s
cost of raw materials increased by two percent (2%) over a twelve (12) month
period prior to a Price Adjustment Date, then the Purchase Price shall be
increased by a like two percent (2%).  If
Seller similarly demonstrates that Seller’s cost of raw materials increased by
six percent (6%) over a twelve (12) month period prior to a Price Adjustment
Date, the Purchase Price shall be increased, but only by the maximum four
percent (4%) agreed to hereunder.

 

                                                E.             Payment.  Seller shall invoice Buyer for the Product
delivered on a  monthly basis.
Buyer shall pay the invoices, in full, within thirty (30) days of receipt.

 

ARTICLE V

Delivery of Product and Examination of Goods

 

                                                A.            Delivery
of Product. Seller shall deliver the Product to Buyer’s facility  located near Chancellor,
South Dakota. Should Buyer want the Product delivered elsewhere, Seller will
advise Buyer of increase in cost due to additional transportation charges, if
any, prior to such delivery and Buyer shall pay such increase in cost if Buyer
desires to have the Product delivered to the alternative location. Seller shall
make all deliveries of Product during Buyer’s normal hours of operation.  Seller shall provide Buyer a delivery
schedule on a week-by-week basis at least one week in advance of the week of
delivery.  Buyer may alter Seller’s
delivery schedule upon a three (3) day notice to Seller.

 

4

 

                                                B.            Contents
of Product.  Seller shall
provide Product of such quality as  required by Buyer and any rules, ordinances,
regulations, or laws that govern the operation of the business of Buyer and its
fuel grade ethanol production facility. 
Without limiting the generality of the foregoing, Seller shall not
deliver any Product that includes non-approved materials such as plastics, treated
woods (i.e. green treated wood), railroad ties, treated pilings, painted wood,
stained wood, or any other wood which contains petroleum products or other
chemicals which do not occur naturally in wood. 
Buyer acknowledges, however, that Seller has previously provided a
sample of Product for a test burn by Buyer. 
The sample provided by Seller was sufficient to meet or exceed Buyer’s
requirements.  As long as Seller
continues to provide Product at least equivalent to that provided in the
sample, Seller shall be in compliance with the terms of this paragraph.  However, Buyer shall have the right, in its
sole and absolute discretion, to conduct similar test burns to confirm that the
quality of the Product continues to meet or exceed Buyer’s requirements for its
compliance with state and federal statutes, regulations, and rules, as the case
may be.  Buyer agrees to provide Seller
with the results from the first test bum as well as the results of any
subsequent test burns conducted by Buyer.

 

                                                C.            Examination
of Goods. Buyer has the right to examine the Product upon  receipt.  Buyer shall have a period of 10 days after
receipt of any particular delivery of Product in which to reject the Product or
to notify Seller of any claim for damages based on the condition, grade,
quality or quantity of the Product. Any particular delivery of Product to Buyer
shall be deemed accepted by Buyer unless Seller receives notice pursuant to
this Article V.

 

ARTICLE VI

Seller’s Warranties

 

                                                A.            Availability
of Product. Seller expressly warrants that it will maintain and  have readily available, upon
an order by Buyer, up to 150 ton of Product per day on average. Seller further
warrants that if it fails to maintain a sufficient quantity of Product to
satisfy Buyer’s requirement of 150 ton per day on average, it will procure like
Product from another source to satisfy Buyer’s requirements and Seller shall
provide the same to Buyer for the price set forth in this Agreement.  Seller will reimburse Buyer for the costs of
any replacement Product purchased by Buyer less the price set forth in this
Agreement. Seller shall further reimburse Buyer for any all additional costs
associated with Buyer’s purchase of substitute Product including, but not
limited to increased costs of transportation.

 

                                                B.            Quality
of Product.  Seller shall, at
all times, exert best efforts and all due

 

5

 

diligence
to assure that the Product is suitable for the intended use by Buyer.  In addition, Seller shall take all actions,
within control of Seller, to assure that the quality of Product remains
reasonably constant such that all deliveries of Product shall be suitable for
Buyer’s intended use.  For purposes of
this Agreement, if the delivered Product conforms with the type required by
this Agreement — i.e., “2 inch minus” with no more than twenty-five percent
(25%) “wet” without Buyer’s approval — it shall be considered suitable for
Buyer’s intended use. Seller shall not deliver any Product that does not comply
with Article V, Section B, above.

 

                                                C.            Product
Unencumbered.  Seller
expressly warrants that the Product shall  be, at all time, free from any and all
security interest, liens, and encumbrances.

 

                                                D.            Risk
of Loss.  Seller expressly
warrants that it shall bear any and all risks  of loss until such time as the Product is
delivered to or received by Buyer and is accepted by Buyer in accordance with Article V
above.

 

                                                E.             Authority.  Seller expressly warrants that the individual
executing this  Agreement on
behalf of Seller is fully authorized to do so and that no further action or
consent on the part of Seller or any representative of Seller is necessary to
bind Seller to this Agreement and to allow enforcement of the terms and
conditions of this Agreement  against
Seller.

 

ARTICLE VII

Default

 

                                                A.            Events
of Default.  The failure by
Buyer or Seller to comply with any  term, condition or obligation arising under
this Agreement shall constitute a default (“Default”).  Upon Default, the Non-defaulting Party shall
give the Defaulting Party written notice of the specific Default and shall
allow Defaulting Party five (5) days to cure the Default.

 

                                                B.            Remedies.  Upon an uncured Default, Non-Defaulting Party
shall be  entitled at its
discretion to exercise any and all remedies available to it at law or in equity
including, but not limited to, termination of this Agreement without further
notice and recovery of general damages, consequential damages, any applicable
injunctive relief and costs (including reasonable attorneys’ fees). The
Non-Defaulting Party may also exercise its right to continue this Agreement
upon notice to the Defaulting Party, despite the default and any resulting
recovery.

 

6

 

ARTICLE VIII

Insurance

 

                                                A.            Workers’
Compensation.  Seller warrants
to Buyer that all of Seller’s  employees, who may make deliveries to or who may otherwise be on Buyer’s
property, shall be covered (if required) by applicable workers’ compensation
laws.

 

                                                B.            Automobile
Insurance.  Seller agrees to
carry insurance on its vehicles  operating on Buyer’s property in amounts
satisfactory to Buyer.

 

                                                C.            Commercial
General Liability.  During the
Term of this Agreement,
Seller shall purchase and maintain Commercial General Liability
insurance with combined single limits of not less than $1,000,000.00 and the
policy shall be endorsed to require a thirty (30) day advance written notice to
Buyer of termination, cancellation or any other material change to said policy.

 

                                                D.            Proof
of Insurance. Seller shall, on an annual basis or upon renewal,  whichever period of time is
less, provide proof of the existence of the foregoing policies of insurance to
Buyer.

 

ARTICLE IX

Miscellaneous Provisions

 

                                                A.            Indemnification.  Seller shall indemnify and hold harmless
Buyer and its  respective
owners, officers, managers, directors, other employees, agents, and assigns
from any and all claims, damages, liabilities, attorneys’ fees and expenses
arising out of Seller’s violation of any of the terms and conditions of this
Agreement or any and all claims, damages, liabilities, attorneys’ fees and
expenses arising out of any claim based upon the Product sold by Seller to
Buyer or the acts or omissions of Seller. 
In the same manner, Buyer shall hold Seller harmless for any and all
claims, damages, liabilities, attorneys’ fees and expenses arising out of any
claim based upon Buyer’s use of the Product, Buyer’s violation of any of the
terms and conditions of this Agreement, or the acts or omissions of Buyer.

 

                                                B.            Expenses
of Enforcement.  If Buyer or
Seller breaches or threatens to  breach any of the covenants described in this
Agreement, then, in addition to any of the rights and remedies which the
Non-Breaching Party may have against the Breaching Party, the Breaching Party
will be liable to pay the Non-Breaching Party’s court costs and reasonable
attorneys fees incurred in enforcing this Agreement.

 

7

 

                                                C.            Severability.  If any provision of this Agreement shall be
held by a court of  competent
jurisdiction to be unenforceable or invalid, the remaining provisions will
remain in full force and effect. If any provision of this Agreement is held to
be overbroad as written, the provision shall be deemed amended to narrow its
application to the extent necessary to make it enforceable to the fullest
extent allowable.

 

                                                D.            Successors
and Assigns. This Agreement shall inure to the benefit of, and  be valid, enforceable and
binding upon, the beneficiaries, heirs, successors, assigns, and transferees of
both Seller and Buyer. Neither party may assign this Agreement without the
express written consent of the other party, such consent not to be unreasonably
withheld.

 

                                                E.             Presumptions.  In construing the terms of this Agreement, no
presumption  shall operate
in either party’s favor as a result of counsel’s role in drafting this
Agreement’s terms or provisions.

 

                                                F.             Waiver
of Breach.  The waiver by
Buyer or Seller of a breach of any  covenant of this Agreement shall not operate
or be construed as a waiver of any subsequent or later breach by Buyer or Seller.
No waiver by Buyer or Seller shall be effective unless in writing.

 

                                                G.            Text
Controls.  The headings of
paragraphs and sections are included  solely for convenience.  If a conflict exists between any heading and
the text of this Agreement, the text shall control.

 

                                                H.            Governing
Law.  All rights and
obligations arising out of or relating to  this Agreement shall be governed by and
construed in accordance with the laws of the State of South Dakota.

 

                                                I.              Force
Majeure. Neither Seller or Buyer will be liable to the other for any  failure or delay in
performance of any obligation under this Agreement due to events beyond its
control, including, but not limited to, fire, storm, flood, earthquake,
explosion, act of a public entity or terrorism, riots, civil disorders,
sabotage, strikes, lockouts, labor disputes, labor shortages, war, stoppages or
slowdowns initiated by labor, transportation embargoes, acts of God, or acts or
regulation or priorities of the federal, state or local government or branches
or agencies thereof.

 

 

 

 

(signature pages follow)

 

8

 

         Dated this 27th day of
December, 2006.

 

	
   

  	
   

  	
  MUELLER PALLETS, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Margaret E. Mueller

  
	
   

  	
   

  	
   

  	
  Margaret
  E. Mueller, Manager

  

 

 

	
  STATE
  OF SOUTH DAKOTA

  	
  )

  	
   

  
	
   

  	
  :

  	
   

  
	
  COUNTY
  OF MINNEHAHA

  	
  )

  	
   

  

 

 

                On this 27th day of
December, 2006, before me, the undersigned officer, personally appeared, Margaret E. Mueller, who acknowledged
herself to be the Manager of Mueller Pallets, LLC, a South Dakota limited
liability company, and that she as such Manager, being authorized so to do,
executed the same for purposes therein contained.

 

                IN WITNESS WHEREOF, I hereunto
set my hand and official seal.

 

 

	
   

  	
   

  	
  /s/
  Crystal Hoek

  
	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (SEAL)

  	
   

  	
  My
  Commission Expires: May 19, 2012

  

 

9

 

                Dated this 27 day of December,
2006.

 

	
   

  	
  GREAT PLAINS ETHANOL, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Rick Serie

  
	
   

  	
   

  	
  Rick
  Serie, Manager

  

 

 

	
  STATE
  OF SOUTH DAKOTA

  	
  )

  	
   

  
	
   

  	
  :

  	
   

  
	
  COUNTY
  OF MINNEHAHA

  	
  )

  	
   

  

 

 

              On this 27th day of December,
2006, before me, the undersigned officer, personally appeared, Rick Serie, who acknowledged himself to be
the Manager of Great Plains Ethanol, LLC, a South Dakota limited liability
company, and that he as such Manager, being authorized so to do, executed the
same for purposes therein contained.

 

                IN WITNESS WHEREOF, I hereunto
set my hand and official seal.

 

 

	
   

  	
   

  	
  /s/ Crystal Hoek

  
	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (SEAL)

  	
   

  	
  My
  Commission Expires: May 19, 2012

  

 

 

10

 

APPROVAL BY GREAT PLAINS ETHANOL, LLC BOARD OF MANGERS

 

                Pursuant to Article II
above, this Agreement is approved and ratified by the Board of Managers of Great
Plains Ethanol, LLC this        day of                              ,
200  .

 

 

 

	
   

  	
  By: 

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:
  

  	
   

  

 

11Exhibit 10.1

 

 WAIVER OF REGISTRATION RIGHTS

 

The undersigned
holders of options, warrants, notes and other convertible securities (the “Convertible
Securities”), issued by Micro Component Technology, Inc., a Minnesota
corporation (“MCT”), hereby irrevocably waive their rights to require MCT to
maintain a registration statement in effect with the Securities and Exchange
Commission, or any state securities commission, covering the sale by the
undersigned of the Convertible Securities, or any shares that have been issued
or are issued in the future upon exercise or conversion of the Convertible
Securities.

 

The undersigned
also waive any financial penalty that may have already accrued due to MCT’s
failure to maintain a registration statement in effect prior to the date
hereof.

 

 

	
  Dated: March 14,
  2008

  	
  LAURUS MASTER FUND,
  LTD.

  
	
   

  	
  LAURUS CAPITAL
  MANAGEMENT, LLC

  
	
   

  	
  VALENS U.S. SPV I, LTD.

  
	
   

  	
  VALENS CAPITAL
  MANAGEMENT, LLC

  
	
   

  	
  PSOURCE STRUCTURED DEBT
  LIMITED

  
	
   

  	
  VALENS OFFSHORE SPV I,
  LTD

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Pat Regan

  
	
   

  	
   

  	
  Name:

  	
  Pat Regan

  
	
   

  	
   

  	
  Title: 

  	
  Authorized Signatory

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