Document:

April 23, 2009

         

        U.S. Bank National Association, as Indenture Trustee of BXG Receivables Note Trust 2002-A

        60 Livingston Avenue

        St. Paul, MN 55107

         

        
            	
                        Attention: 

                    	
                        Corporate Trust Services/

                    

        

        
            	
                         

                    	
                        BXG Receivables Note Trust 2002-A

                    

        

        Facsimile Number: (651) 495-8090

         

        RE: Notice of Intention to Redeem BXG Receivables Note Trust 2002-A, Timeshare Loan-Backed Notes, Series 2002-A, Class A, Class B, Class C and Class D (collectively, the “Notes”)

         

        Pursuant to and in accordance with Article X of that certain Indenture, dated as of November 15, 2002, by and among BXG Receivables Note Trust 2002-A, as Issuer, Bluegreen Corporation, as Servicer, Vacation Trust, Inc., as Club Trustee, Concord Servicing Corporation, as Backup Servicer and U.S. Bank National Association, as Indenture Trustee (the "Indenture"), we hereby notify you of the exercise of the
        Servicer’s option to redeem not less than all of the Notes. We shall redeem the Notes on Friday, May 8, 2009 (the “Redemption Date”). 

         

        As you have previously indicated that you would do so, we hereby request that you, as Indenture Trustee on behalf of the Servicer, give by first class mail, postage prepaid, mailed not less than fifteen (15) days prior to the Redemption Date to each Noteholder (April 23, 2009), at the address listed in the Note Register and to the Rating Agencies, the form of Notice of Full Redemption attached hereto as
        Exhibit A, all in accordance with Section 10.3 of the Indenture. 

         

        On or before the Business Day immediately preceding the Redemption Date, we shall deposit with you an amount equal to the Redemption Price and any amounts, fees and expenses that are required to be paid under the Indenture (less any portion of such payment to be made from funds held in any of the Trust Accounts). Capitalized terms not otherwise defined herein shall have the meaning given therein in the
        Indenture.

         

         

        
            	
                         

                    	
                        Bluegreen Corporation, as Servicer

                    

        

                        

        
            	
                         

                    	
                        By:

                    	
                        /s/ Allan J. Herz 

                    
	
                    	
                        Name:

                    	
                        Allan J. Herz

                    
	
                    	
                        Title:

                    	
                        Senior Vice President, Mortgage

                    
	
                    	
                    	
                        Operations and Assistant Treasurer

                    

        

         

         

        
            

        

        

        Exhibit A

         

        Form of Notice of Full Redemption

         

         

         

         

        (See attached)

         

         

        
            

        

        Notice of Full Redemption

        BXG RECEIVABLES NOTE TRUST 2002-A

        Timeshare Loan-Backed Notes, Series 2002-A

        Class A, Class B, Class C and Class D

         

        NOTICE IS HEREBY GIVEN, on behalf of Bluegreen Corporation, as Servicer, and pursuant to the terms of the Indenture, dated as of November 15, 2002, by and among BXG Receivables Note Trust 2002-A, as Issuer, Bluegreen Corporation, as Servicer, Vacation Trust, Inc., as Club Trustee, Concord Servicing Corporation, as Backup Servicer and U.S. Bank National Association, as Indenture Trustee (the
        “Indenture”), that the outstanding BXG Receivables Note Trust 2002-A, Timeshare Loan-Backed Notes, Series 2002-A, Class A, Class B, Class C and Class D (collectively, the “Notes”) have been called for full redemption on May 8, 2009 (the “Redemption Date”) at a price for each Class of Notes of the sum of the Outstanding Note Balance of such Class of Notes on the Redemption Date, together with the interest accrued thereon at the applicable Note Rate up
        to and including the Redemption Date (the “Redemption Price”) as depicted below for each Class of Notes. All capitalized terms not defined herein shall have the meaning given them in the Indenture. The Notes to be redeemed are:

         

        
            	
                       

                        Class

                  	
                      Stated

                        Maturity

                  	
                      Initial Note Balance

                  	
                 

                        Note Rate

                  	
                 

                        CUSIP No.*

                  
	
                        A

                    	
                        September 2014

                    	
                        $86,899,000

                    	
                        4.580%

                    	
                        056061 AA 2

                    
	
                        B

                    	
                        September 2014

                    	
                        $21,724,000

                    	
                        4.740%

                    	
                        056061 AB 0

                    
	
                        C

                    	
                        September 2014

                    	
                        $23,535,000

                    	
                        5.735%

                    	
                        056061 AC 8

                    
	
                        D

                    	
                        September 2014

                    	
                        $38,018,000

                    	
                        7.750%

                    	
                        056061 AD 6

                    

        

         

        REDEMPTION PRICE:

         

        
            	
                         

                    	
                       

                        Class

                  	
                Redemption Date Outstanding Note Balance

                  	
                 

                        accrued interest

                  	
          

                        Redemption Price

                    	
                         

                    
	
                         

                    	
                        A

                    	
                        $7,697,778.76

                    	
                        $23,154.19

                    	
                        $7,720,932.95

                    	
                         

                    
	
                         

                    	
                        B

                    	
                        $1,923,694.67

                    	
                        $5,988.49

                    	
                        $1,929,683.16

                    	
                         

                    
	
                         

                    	
                        C

                    	
                        $2,084,669.25

                    	
                        $7,851.82

                    	
                        $2,092,521.07

                    	
                         

                    
	
                         

                    	
                        D

                    	
                        $3,367,465.73

                    	
                        $17,139.75

                    	
                        $3,384,605.48

                    	
                         

                    
	
                         

                    	
                         

                    	
                         

                    	
                         

                    
	
                    	
                    	
                    	
                    	
                    	
                    	
                    	
                    	
                    

        

        Payment of the Redemption Price in respect of each Note called for redemption will become due and payable on the Redemption Date upon presentation and surrender thereof in the following manner:

        
            	
                        If by Mail:

                        U.S. Bank

                        Corporate Trust Services

                        P. O. Box 64111

                        St. Paul, MN 55164-0111

                         

                    	
                        If by Hand or Overnight Mail:

                        U.S. Bank

                        60 Livingston Avenue

                        1st Floor – Bond DropWindow

                        St. Paul, MN 55107

                    	
                         

                         

                    

        

        1-800-934-6802

         

        Noteholders presenting their notes in person for same day payment must surrender their bond(s) by 1:00 P.M. on the Redemption Date and a check will be available for pick up after 2:00 P.M. Checks not picked up by 4:30 P.M. will be mailed out to the noteholder via first class mail. If payment of the Redemption Price is to be made to the registered
        noteholder of a Note, you are not required to endorse such Note to collect the Redemption Price.

        Interest on the principal amount designated to be redeemed shall cease to accrue if payment of the Redemption Price is made on the Redemption Date.

         

        
            

        

        IMPORTANT NOTICE

        Under the Interest and Dividend Tax Compliance Act of 1983 as amended by the Energy Policy Act of 1992, 31% will be withheld if tax identification number is not properly certified.

        *The Indenture Trustee shall not be held responsible for the selection or use of the CUSIP number, nor is any representation made as to its correctness indicated in the Redemption Notice. It is included solely for convenience of the Noteholders.

         

        DATED THIS 23rd DAY OF APRIL, 2009

         

        BY U.S. BANK NATIONAL ASSOCIATION

        as Indenture Trustee8-K

Exhibit 10.1  

Agreement 

for service operation
of KDV500 

of Waste2Oil GmbH in
Hoyerswerda with 

contracted between the 

Waste 2 Oil GmbH 

Industriestrasse 1 

D – 02977
Hoyerswerda 
Represented by CEO
Stephan Retzlaff 

(subsequent W2O) 

and 

Alphakat – Global
Energy GmbH 

Schulstrasse 8,
Buttenheim, Germany. 

Represented by CEO Asi
Shalgi 

(subsequent AKGE) 

	1.) 	W2O
is owner of the property Industriegelände E 1, Industriestrasse 1, D           – 02977
Hoyerswerda with an area of approx. 1 km2, with           several factory
buildings and divers outbuildings. On this area the W2O is           performing different
test runs and the production plant of the KDV 500 unit. 

	2.) 	W2O
will provide services of plant operations and testing in Hoyerswerda to AKGE
          with at a time arranged utilization of the unit KDV 500. 

	3.) 	W2O
is operating the unit KDV 500 in Hoyerswerda and is responsible including           all
taxes by law and additional costs for hiring and paying the qualified           workers. 

	4.) 	The
aim of W2O and AKGE is a continuous operating of the unit KDV 500. Hereby is           a
continuous operating of at least 72 hours every week aspired. It is planned to
          operate the unit KDV 500 for 5 days a week (Monday 6:00 am till Friday 18:00)
          apart from holidays. 

	5.) 	Operating
stops for emergency maintenance and/or due to equipment failures must           be
accepted. Prior scheduled maintenances have to be announced to AKGE.           Scheduled
and maintenance for improvements of the system the shut down of the           KDV will be
after 72 hours of operation unless agreed in writing before. 

	6.) 	W2O
will provide in the line with the statutory operations diary a daily report
          with the processed feedstock and the produced output. Furthermore AKGE gets
          inspection in the data’s of the SPS-controll system for the Operation time
          period. The data will include: quantity of waste and type, disesl produced,
          water produced, and ash. 

	7.) 	The
location has the authorization for processing 10t of feedstock per day. W2O
          will organize and decide the processing feedstock according to the agreed test
          protocol between the parties. The income from tipping fees will be partly taken
          to refinance the cost of AKGE. 

	8.) 	W2O
and AKGE will prepare working testing plan for two weeks twice a month. 

	9.) 	The
working plan will include times when we shall run the KDV to its full           available
output , and times to produce 10 tons per day at a rate of 500kg /hour           for 20
hours a day. 

	10.) 	W2O
will be responsible every two weeks for having the fuel tested in order to
          determine its compliance with EN590 unless otherwise required by AKGEI. The
          costs for the analyzing of the output have to be paid separately. Cost is
          approximately 600 – 700 Euro for diesel EN590 and water and ash per test,
          Test emissions test is approximately 1000 Euros. 

	11.) 	The
aim is to produce a fuel with the parameters of the DIN EN 590 and to sell           it
as Diesel. All income from the sale of the product will be equally divided
          between W2O and AKGE. 

	12.) 	AKGE
will be able to bring visitors to the site at any time in accordance with           W2O
and an advance notice of 7 days. Global Energy will also be able to bring           third
parties to review the Unit’s operation and validate the input and           output
results. AKGE will be able to bring observer for the test for all the           time. 

	13.) 	AKGE
knows that W2O next to the operation services to AKGE can perform test runs           on
their own invoice. Due to the sensitivity of the information related to the           Unit’s
operations, site visits by such third parties have to be announced           to AKGE.
Third parties must sign an execution of a non-disclosure agreement           prior
visiting the premises of W2O. 

	14.) 	AKGE
will pay W2O a monthly fee for covering the costs for operating the unit           KDV
500 in shape of an allowance for services, as subsequent performed: 

	 	
Cost
of servises will be: 5,000 Euro per month paid at the bgining of the month, and 1,000
Euro per day of operation. Any day with an utillization of the unit KDV 500 is counted as
an operation day (according to point 4 – Monday 6:00 am till Friday 18:00). VAT will
be added as applicable by law. The daily paymetn will be done 3 days after the end of the
month based on acctual days of operation.  

	15.)  	AKGE
will make payments to W2O on the 3 day of the current month 

	 		
	 		
	 		
	 		
	 		
	 	Waste 2 Oil GmbH	 
	 	Bank:	Postbank Leipzig
	 	BLZ:	860 100 90
	 	Kto. Nr.:	76 257 900

	16.) 	This
agreement starts five days after W2O anounced Global that the system is           ready
for operation with one turbine and high temprature pumps and is valid with           the
entry of the first payment 5000 Euro payment. The agreement is completed for           3
month. 

	17.) 	If
AKGE is arrears with payment more than 10 days, W2O has the right of
          termination as from now. 

	18.) 	The
termination of this agreement is for both parties with an cancellation           notice
of 2 weeks 

	19.) 	AKGE
has the right to cancel the agreement if the services will not provide for
          continues 2 weeks. 

		
		
		
		
		
	Hoyerswerda, 7.05.2009 	8/5/09
	/s/ Stephan Retzlaff	/s/ Asi Shalgi
	Waste 2 Oil GmbH	AKGE
	CEO Stephan Retzlaff	CEO Asi Shalgi

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