Document:

exv10w30

 

Exhibit 10.30

OWNER / CONTRACTOR AGREEMENT

     This AGREEMENT, made this 25th day of  January , 2007, by and
between Fleming Excavating INC., (“Contractor”), and CARDINAL ETHANOL, LLC (“Owner”) (sometimes
Owner and Contractor shall be collectively “Parties”).

     WHEREAS, Owner is developing a 100 million gallon per year dry mill ethanol plant to be
located near Harrisville, Indiana (hereafter the “Plant”);

     WHEREAS Owner wishes to engage Contractor and Contractor wishes to accept such engagement to
provide materials and construction services as provided in this Agreement.

     NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Contractor
and Owner hereby agree to the following:

	 	1.	 	Scope of Work. Contractor agrees to furnish all materials, supplies, tools,
equipment, labor and other services for the construction of the site improvements for the
Project to be completed per the construction drawings (the “Work”). The construction
drawings are attached hereto as Exhibit A and by this reference made a part hereof. The
referenced construction drawings are entitled; Civil and Site Work Grading Detail Design
Package — Cardinal Ethanol, LLC — Harrisville, Indiana; Prepared by Fagen Engineering, LLC
— Dated 12/15/06 — Sheets 200 Through 219. Said improvements shall be installed in the
locations and at the grades and elevations in a manner to comply with the regulations and
specification of Fagen Engineering, LLC (the “Engineer”).
	 
	 	2.	 	Compensation and Payment. Contractor agrees to perform the Work for payment of the
sum of THREE MILLION, FOUR HUNDRED THIRTY-FOUR THOUSAND, FIVE HUNDRED TWENTY-NINE & THIRTY
NINE/100 dollars, ($3,434,529.39). Owner shall pay therefore the unit price as set forth on
the “Estimate of Quantities”, attached hereto as Exhibit B and made a part hereof.
Contractor shall submit a semi-monthly invoice for actual services rendered. Owner shall pay
within 15 days after Owner’s receipt thereof, all sums due for Work installed during the
previous pay period and inspected and approved by Owner and Contractor’s costs for all
material stored on-site for that month actually delivered and verified by weight tickets.
Materials invoiced without proof of delivery and weight ticket shall be rejected by Owner.
At the time of any requisition, Contractor shall supply Owner with appropriate affidavits and
release of waiver of liens as may be reasonably required by Owner.
	 
	 	3.	 	Right to Retain; Payment of Retainage. Notwithstanding the foregoing, Owner shall
have the right to retain out of any payment then due, or thereafter to become due, an amount
of 5% of said payment amount (up to a maximum of $75,000.00). Upon completion of the Work,
Contractor shall provide written notice of completion to Owner, and Owner shall thereafter
have 15 days in which to inspect the Work to determine satisfactory compliance with
specifications. In the absence of written delivery of notice of any deficiencies in the

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	 	 	 	Work, Final payment of retainage shall be due within Thirty (30) days of such inspection (and
in no event later than Forty-five (45) days following Contractor’s delivery of notice of
completion).”
	 
	 	4.	 	Work Outside the Scope. All changes and deviations in the Work ordered by Owner
must be in writing, the contract sum being increased or decreased accordingly by Contractor
in accordance with Contractor’s current fee schedules. Any claims for increases in the cost
of the Work must be presented by Contractor to Owner in writing, and written approval of
Owner shall be obtained by Contractor before proceeding with the ordered change or revision.
For any approved change, the contract sum shall be adjusted accordingly at the unit price as
set forth on Exhibit B. In the event additional Work is ordered by Owner for which no price
has been established, or should Contractor encounter sub-surface or latent conditions at the
site, including but not limited to rock, or unsuitable sub-surface matter, the attention of
the Engineer shall be called immediately to such condition and the price shall be adjusted as
reasonable agreed upon between Contractor and Owner.
	 
	 	5.	 	Permits and Licenses; Easements. Permits and licenses necessary for the prosecution
of the Work shall be paid for by Owner. Any necessary easements shall be secured and paid
for by Owner, unless otherwise specified.
	 
	 	6.	 	Warranty. Contractor shall comply with the requirements of all applicable laws,
rules or regulations. Contractor agrees to promptly re-execute any Work which Owner
determines does not conform to the drawings and specifications without additional charge to
Owner. Contractor warrants the Work to be performed in accordance with specifications and
agrees to promptly remedy any defects attributable to Contractor without additional charge to
Owner.” The warranty period is for one year from completion. This provision shall
survive the expiration or termination of this Agreement.
	 
	 	7.	 	Indemnification. To the fullest extent permitted by law, Contractor shall defend,
indemnify and hold harmless the Owner, Owner’s officers, directors, members, consultants,
agents and employees from all claims for bodily injury and property damage that may arise
from the performance of Contractor’s Work. Contractor shall not be required to defend,
indemnify or hold harmless the Owner, Owner’s officers, directors, members, consultants,
agents and employees for any acts, omissions or negligence of Owner or any indemnified party.
This provision shall survive the expiration or termination of this Agreement.
	 
	 	8.	 	Delivery of the Work. Contractor agrees that the various portions of the
above-described Work shall be completed as determined by Owner and the entire above-described
Work shall be completed no later than April 18, 2007 in the facility area and the rail area
to follow within 2 months.
	 
	 	9.	 	Delays beyond Contractor’s Control. In the event Contractor is delayed in the
prosecution of the Work by change orders, labor disputes, unavailable of materials orders of
the public authorities having jurisdiction thereon, or other caused beyond the Contractor’s
control, time for performance shall be extended accordingly.

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	 	10.	 	Insurance. Contractor, before commencing work hereunder, shall procure and maintain
policies of insurance satisfactory to the Owner, covering the liabilities assumed by the
Contractor herein. Contractor agrees to file with Owner certificates of such insurance
before commencing work hereunder, which certificates shall contain a provision that no change
in said insurance or termination thereof, shall take place without thirty (30) days written
notice to Owner. The policy shall name Owner and their officers, employees and agents as
Additional Insureds.
	 
	 	 	 	Such insurance shall be in the following minimum amounts as required by Owner:

	 	•	 	Comprehensive General Liability Insurance in an amount not less than One
Million Dollars ($1,000,000.00) each occurrence and Two Million Dollars
($2,000,000.00) annual aggregate. Said policy will include coverage for
acts of subcontractors if engaged by Fleming Excavating, Inc.
	 
	 	•	 	Comprehensive Automobile Liability Insurance, with combined single
limits of not less than $1,000,000.
	 
	 	•	 	Excess Liability Insurance in an amount not less than One Million
Dollars ($1,000,000.00) each occurrence and Two Million Dollars
($2,000,000.00) annual aggregate.
	 
	 	•	 	Workers Compensation Insurance in an amount not less than One Million
Dollars ($1,000,000.00) each accident and each employee and One Million
Dollars ($1,000,000.00) policy limit.

	 	11.	 	Suspension and Termination. Owner may order Contractor to suspend delay or
interrupt all or any part of the Work without cause and for such period of time as Owner
determines to be appropriate but not longer than 60 days. Owner may terminate this Agreement
for any reason. In this event, Owner shall pay Contractor for all Work and associated Profit
executed through the date of termination.
	 
	 	12.	 	Suspension of Work by Contractor. Should the Work be stopped by any public
authority for a period of thirty days or more, through no fault of Contractor, or should the
Work be stopped through act of neglect of the Owner for a period of seven days, or should the
Owner fail to pay the Contractor any payment within seven days after it is due, the
Contractor, upon seven days written notice to the Owner, may stop work or terminate the
Agreement and recover from Owner payment for all Work executed. This provision does not limit
Contractor’s damages from Owner’s breach.
	 
	 	13.	 	Materials; Workers. Unless otherwise agreed by Owner, Contractor warrants that all
materials shall be new and of good quality. In the prosecution of the Work, Contractor shall
employ a sufficient number of workers skilled in their trades to suitably perform the Work.
	 
	 	14.	 	Access by Owner and Public Authorities. Owner, Owner’s representatives and public
authorities shall at all times have access to the Work.

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	 	15.	 	Confidentiality. Contractor shall treat as confidential and not disclose to others
or use for its own benefit any of Owner’s developments, confidential information,
discoveries, or methods that may be disclosed to Contractor in connection with the Work.
This provision shall survive the expiration or termination of this Agreement.
	 
	 	16.	 	Assignment. Neither Owner nor Contractor shall have the right to assign any rights or interest occurring under this Agreement without the written consent of the other,
nor shall Contractor assign any sums due, or to become due, to it under the provisions of this
Agreement.
	 
	 	17.	 	Entire Agreement; Amendments. This Agreement and the exhibits hereto set forth the
entire understanding of the Parties and supersede any prior agreements, oral or written, as
to the subject matter hereof. This Agreement may be amended or modified by, and only by, a
written instrument executed by the Parties hereto.
	 
	 	18.	 	Binding Effect. This Agreement shall inure to the benefit of and be binding upon
the parties hereto, their respective successors, permitted assigns and personal
representatives. This Agreement shall not be assigned by the Parties hereto except as
permitted by its express terms or upon the written consent of the other Party. Nothing in
this Agreement, express or implied, is intended to confer upon any other person any rights or
remedies under or by reason of this Agreement.
	 
	 	19.	 	Severability. Any term or provision of this Agreement which is invalid or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity or unenforceability without rendering invalid or unenforceable the
remaining terms and provisions of this Agreement, or affecting the validity or enforceability
of any of the terms or provisions of this Agreement in any other jurisdiction.
	 
	 	20.	 	Waiver. The failure of any Party hereto to insist in any one of more instances
upon performance of any term or condition of this Agreement shall not be construed as a
waiver of future performance of any such term, covenant or condition, but the obligation of
such party with respect thereto shall continue in full force and effect.
	 
	 	21.	 	Captions. The captions herein are inserted for convenience of reference only and
shall be ignored in the construction or interpretation hereof.
	 
	 	22.	 	Counterparts; Facsimile. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original, and may be executed by
facsimile signature.

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IN WITNESS WHEREOF, the parties hereto have executed, or caused to be executed by their duly
authorized officials, this Agreement.

	 	 	 
	OWNER:

	 	CONTRACTOR:
	 
	 	 
	CARDINAL ETHANOL, LLC

	 	FLEMING EXCAVATING, INC.
	 
	 	 
	/s/ Troy Prescott

	 	/s/ Gregory A. Fleming
	 

	 	 
	Signature

	 	Signature
	 
	 	 
	President

	 	President
	 

	 	 
	Title

	 	Title
	 
	 	 
	1-25-07

	 	1/25/07
	 

	 	 
	Date

	 	Date

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Exhibit 10.40

ETHANOL MARKETING CONTRACT

THIS AGREEMENT is entered into by and among Eco-Energy, Inc. (hereinafter “ECO”) a Tennessee
Corporation with its main office located at 730 Cool Springs Blvd, Suite 130, Franklin, Tennessee
37067, and FIRST UNITED ETHANOL, LLC at 2 West Broad Street, Camilla, GA 31730.

RECITALS:

	A.	 	FIRST UNITED ETHANOL, LLC, who is developing an ethanol plant facility which expects to
produce approximately 110 million gallons per year of denatured ethanol located in Camilla,
Georgia that desires to establish an output-marketing contract.
	 
	B.	 	ECO is a reseller in ethanol and is experienced in the marketing and transportation of such
ethanol, and is desires to agree to purchase the entire ethanol output of the plant.

NOW, THEREFORE, IT IS AGREED AS FOLLOWS BETWEEN THE PARTIES:

	1.	 	ECO Services ECO shall, during the term hereof, purchase the entire output of
ethanol and to provide certain transportation services to FIRST UNITED ETHANOL, LLC (the “ECO
Program”). The ECO services to be provided are set forth in Sections 2 and 3 and the exhibits
attached hereto which are referred to therein.
	 
	2.	 	ECO Take or Pay Ethanol Purchases FIRST UNITED ETHANOL, LLC agrees to sell to ECO,
and ECO agrees to purchase from FIRST UNITED ETHANOL, LLC 100% of the production of ethanol
during the term of the contract. Each potential ECO purchase will be presented to the FIRST
UNITED ETHANOL, LLC representative by ECO for verbal approval. Upon such verbal approval and
purchase, a confirmation of the purchase contract will be submitted to FIRST UNITED ETHANOL,
LLC, by ECO, encompassing the details of each purchase.
	 
	3.	 	ECO Transportation Services ECO agrees to provide the transportation services set forth
in Exhibit B.
	 
	4.	 	Fees FIRST UNITED ETHANOL, LLC shall pay a fee for services of ECO and materials
provided hereunder of $.01 per net gallon of ethanol purchased for rail cars by ECO and $.012
per net gallon of ethanol purchased for outbound trucks by ECO during the term of the
contract. Such fees shall be payable monthly on actual gallons shipped from the prior month.
Payment from FIRST UNITED ETHANOL, LLC shall be subtracted from ECO’s first weekly wire
payment of the following month for ethanol purchases.
	 
	5.	 	FIRST UNITED ETHANOL, LLC Representative FIRST UNITED ETHANOL, LLC shall designate
one or more persons who shall be authorized and directed to receive services hereunder and to
make all merchandising, purchasing and sales decisions for FIRST UNITED ETHANOL, LLC. All
directions, transactions and authorizations given by such representative to ECO shall be
binding upon FIRST UNITED ETHANOL, LLC. ECO shall be entitled to rely on the authorization of
such persons until it receives written notification from FIRST UNITED ETHANOL, LLC that such
authorization has been revoked. The terms of such purchase orders shall be consistent with the
provisions of Exhibit A and may include, but shall not necessarily be limited to, price,
volume, delivery schedule, and shipping instructions.
	 
	6.	 	Swaps and Exchanges ECO shall provide 50% of entitled swaps and exchanges to FIRST
UNITED ETHANOL, LLC. Entitlement is defined by the additional profits created during swaps and
exchanges, which occur prior to delivery. The value of these swaps and exchanges shall be
expressed in the form of a net differential. Documentation of all swaps and exchanges will be
made in the form of a quarterly report. This report shall be generated and payment submitted
to FIRST UNITED ETHANOL, LLC by the final business day of the month following the end of the
calendar quarter.

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	7.	 	ECO Limitations

	 	(a)	 	ECO assumes no responsibility for the completion or performance
of any contracts between FIRST UNITED ETHANOL, LLC and FIRST UNITED ETHANOL,
LLC’s customers and suppliers, and FIRST UNITED ETHANOL, LLC agrees they shall
not bring any action or make any claim against ECO based on any act, omission
or claim of any of FIRST UNITED ETHANOL, LLC’s customers or suppliers.
	 
	 	(b)	 	FIRST UNITED ETHANOL, LLC is responsible to cover all
non-deliveries of any product that is contracted between ECO and FIRST UNITED
ETHANOL, LLC in a timely manner in order to stay within the time parameters of
the contract. ECO will assist in procuring product from other suppliers to
cover these non-deliveries.
	 
	 	(c)	 	If any party terminates this agreement for any reason, both
parties will be responsible to complete any existing contracts.

	8.	 	Separability and Non-liability The services, contracts and relationships between
FIRST UNITED ETHANOL, LLC and ECO are independent and separable.
	 
	9.	 	Confidentiality Agreement The parties agree, to the extent permitted by law, to
preserve and protect the confidentiality of the Agreement. Both parties recognize that
federal or state law may require the filing of the Agreement with, or the furnishing of
information to, governmental authorities or regulatory agencies. Both parties further
recognize the need, from time to time, for the submission of the Agreement to affiliates,
consultants, or contractors performing work on, or related to, the subject matter of the
Agreement. Buyer and Seller agree to allow the submission of the Agreement to affiliates,
consultants, or contractors if such affiliates, consultants, or contractors agree to protect
the confidentiality of the Agreement. In the event either party is of the opinion that
applicable law requires it to file the Agreement with, or to disclose information related to
the Agreement (other than information required by laws and regulations in effect as of the
date hereof to be furnished in periodic reports to governmental authorities) to, any judicial
body, governmental authority or regulatory agency, that party shall so notify the other party
in writing prior to the disclosure or filing of the Agreement.
	 
	10.	 	Public Disclosure Any public announcements concerning the transaction contemplated
by this letter shall be approved in advance by ECO and FIRST UNITED ETHANOL, LLC, except
for disclosures required by law, in which case the disclosing party shall provide a copy of
the disclosure to the other party prior to its public release.
	 
	11.	 	Solicitation FIRST UNITED ETHANOL, LLC agrees not to contact or interfere with,
solicit, disrupt or attempt to disrupt relationships, contractual or otherwise, between Eco
and any of its’ customers, employees or vendors.
	 
	12.	 	Terms and Termination

	 	(a)	 	The initial term of this Agreement shall commence on the first
day of ethanol production and shall continue until the October following two
(2) years full years of production. This contract will automatically renew for
an additional term of two (2) years unless FIRST UNITED ETHANOL, LLC gives
written notice at least four (4) months prior to the end of the initial term.

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	 	(b)	 	This agreement may be terminated by FIRST UNITED ETHANOL, LLC
as to ECO in the event of material breach of any of the material terms hereof
by such other party, by written notice specifying the breach, which notice
shall be effective fifteen (15) days after it is given unless the receiving
party cures the breach within such time. This agreement may be terminated by
ECO as to FIRST UNITED ETHANOL, LLC in the event of material breach of any of
the material terms hereof by FIRST UNITED ETHANOL, LLC, by written notice
specifying the breach, which notice shall be effective fifteen (15) days after
it is given unless the receiving party cures the breach within such time. Any
material breach by FIRST UNITED ETHANOL, LLC as to ECO or by ECO as to FIRST
UNITED ETHANOL, LLC that cannot be resolved within 15 days, both parties may
mutually agree in writing to the length of time needed to resolve the material
breach.
	 
	 	(c)	 	This Agreement may also be terminated between either party by
the mutual consent of both parties on such terms as the parties may agree.
	 
	 	(d)	 	In addition to any other method of terminating this Agreement,
ECO may unilaterally terminate this Agreement at any time if such termination
shall be required by any regulatory authority, and such termination shall be
effective on the 30th day following the giving of notice of intent
to terminate.

	13.	 	Licenses, Bonds, and Insurance Each party represents that it now has and will
maintain in full force and effect during the term of this Agreement, at its sole cost, all
necessary state and federal licenses, bonds and insurance in accordance with applicable state
or federal laws and regulations.
	 
	14.	 	Limitation of Liability EACH PARTY UNDERSTANDS THAT NO OTHER PARTY MAKES ANY
GUARANTEE, EXPRESS OR IMPLIED, TO ANY OTHER OF PROFIT, OR OF ANY PARTICULAR ECONOMIC RESULTS
FROM TRANSACTIONS HEREUNDER. IN NO EVENT SHALL ANY PARTY BE LIABLE FOR SPECIAL, COLLATERAL,
INCIDENTAL, OR CONSEQUENTIAL DAMAGES FOR ANY ACT OR OMISSION COMING WITHIN THE SCOPE OF THIS
AGREEMENT, OR FOR BREACH OF ANY OF THE PROVISIONS OF THIS AGREEMENT, EVEN IF IT HAS BEEN
ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SUCH EXCLUDED DAMAGES INCLUDE, BUT ARE NOT LIMITED
TO, LOSS OF GOOD WILL, LOSS OF PROFITS, LOSS OF USE AND INTERRUPTION OF BUSINESS.
	 
	15.	 	Disclaimer FIRST UNITED ETHANOL, LLC understands and agrees that ECO makes no
warranty respecting legal or regulatory requirements and risks. FIRST UNITED ETHANOL, LLC
shall obtain such legal and regulatory advice from third parties as it may deem necessary
respecting the applicability of legal and regulatory requirements applicable to FIRST UNITED
ETHANOL, LLC business.
	 
	16.	 	Indemnity The Parties agree that they shall absolve, release and refrain from
seeking remedies against each other and their officers, agents, employees, subcontractors and
insurers for any and all losses, claims, damages, costs, suits and liabilities for damage,
deterioration of quality, shrinkage in quantity, loss of grade or loss of Ethanol resulting
from the inherent nature of transfer operations and the inherent nature of Ethanol provided
that this in no way shall relieve the parties for their own negligence, willful misconduct or
theft. Each party to this contract shall indemnify, defend and hold the other harmless from
claims, demands and causes of action asserted against the other by any person (including
without limitation employees of either party) for personal injury or death, or for loss of or
damage to property resulting from the willful or negligent acts or omissions of the
indemnifying party. Where personal injury, death or loss of

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	 	 	or damage to property is the result of the joint negligence or misconduct or the Parties
hereto, the Parties expressly agree to indemnify each other in proportion to their
respective share of such joint negligence or misconduct.
	 
	17.	 	Nature of Relationship ECO is an independent contractor providing services to FIRST
UNITED ETHANOL, LLC. No employment relationship, partnership or joint venture is intended, nor
shall any such relationship be deemed created hereby. Each party shall be solely and
exclusively responsible for its own expenses and costs of performance.
	 
	18.	 	Notices Any notices permitted or required hereunder shall be in writing, signed by
an officer duly authorized of the party giving such notice, and shall either be hand delivered
or mailed. If mailed, notice shall be sent by certified, first class, return receipt
requested, mail to the address shown above, or any other address subsequently specified by
notice from one party to the other.
	 
	19.	 	Compliance With Governmental Controls To the extent applicable, the parties agree to
comply with all laws, ordinances, rules, codes, regulations and lawful orders of any federal,
state or local government authority applicable to the performance of the Agreement, including,
without limitation, those pertaining to the environment, safety, health, social security, old
age pension, wage hour laws, unemployment compensation, non-discrimination on the basis of
race, religion, color, sex or national origin and affirmative action.
	 
	20.	 	New Or Changed Regulations The parties enter the Agreement in reliance upon the
laws, rules, regulations, interpretations, decrees, agreements, and concessions of, and
arrangements (hereafter called “Regulations”) with governments or governmental
instrumentalities in effect on the date of the Agreement with respect to or directly or
indirectly affecting the ethanol to be delivered, including without limitation, production,
gathering, manufacturing, transportation, sale and delivery thereof insofar as said
Regulations affect ECO and their customers. In the event that at any time subsequent to the
date of the Agreement, any of said Regulations are changed or new Regulations are promulgated
whether by law, decree, interpretation or regulation, or by response to the insistence or
request of any governmental authority or person purporting to act therefore, and the effect of
such changed or new Regulation (a) is or will not be covered by any other provisions of the
Agreement, or (b) has or will have an adverse economic effect upon the parties to this
Agreement or the suppliers or customers of said parties, the parties shall have the option to
request renegotiation of the prices and other pertinent terms provided for in the Agreement
and their respective effective dates. Said option may be exercised by ECO at any time after
such changed or new Regulation is promulgated by giving notice of the exercise of its option
to renegotiate prior to the time of delivery of ethanol or any part thereof. Such notice
shall contain the new prices and terms desired by agreement of ECO and FIRST UNITED ETHANOL,
LLC. If the parties do not agree upon new prices and terms satisfactory to both parties
within ten (10) days after such notice is given, ECO shall have the right to terminate the
Agreement at the end of said ten (10) day period.
	 
	21.	 	Assignments This Agreement shall be binding upon and insure to the benefit of the
parties and their respective successors and permitted assigns. This Agreement shall not be
assignable by either party, without the express written consent of the other party, except the
Parties may assign its right and duties under this Agreement in connection with the sale,
merger, exchange or acquisition of all or substantially all of the assets or stock of each
company and the Parties may assign their rights and duties under this Agreement to another
company controlling, or controlled by, or under common control, without having to obtain the
express written consent of the other party.

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	22.	 	Governing Law This agreement is governed by and shall be construed under the laws of
the State of Georgia.
	 
	23.	 	Damages and Timing of Claims The parties agree that neither party shall have the
right to receive or collect punitive or exemplary damages from the other party. Any and all
claims and actions arising out of or relating to this Agreement, the relationship between the
parties, shall be commenced within one year from the discovery of the facts giving rise to any
such claim or action, or such claim or action shall be barred; provided, however, that this
time limitation shall not apply to any unperformed financial obligation of the parties. The
parties understand that such time limit may be shorter than otherwise allowed by law. The
parties agree that the owners, directors, officers, employees and agents of the parties and
its affiliates shall not be personally liable nor named as a party in any action between the
parties.
	 
	24.	 	Waiver of Jury Trial and Venue Recognizing the need to resolve disputes
expeditiously, both parties expressly waive their right to a jury trial and agree that any
dispute shall be submitted to the Superior Court of Mitchell County, Georgia for a bench
trial. Venue for such actions shall be Mitchell County, Georgia
	 
	25.	 	Waiver No waiver, delay, omission or forbearance on the part of FIRST UNITED
ETHANOL, LLC to exercise any right, option, duty or power arising from any default or breach
by ECO shall affect or impair the rights of FIRST UNITED ETHANOL, LLC with respect to any
subsequent default of the same or a different kind; nor shall any delay or omission of FIRST
UNITED ETHANOL, LLC to exercise any right arising from any such default affect or impair FIRST
UNITED ETHANOL, LLC’s rights as to such default or any future default.
	 
	26.	 	Severability If any term, restriction or covenant of this Agreement is deemed
invalid or unenforceable, all other terms, restrictions and covenants and the application
thereof to all persons and circumstances subject hereto shall remain unaffected to the extent
permitted by law; and if any application of any term, restriction or covenant to any person or
circumstance is deemed invalid or unenforceable, the application of such term, restriction or
covenant to other persons and circumstances shall remain unaffected to the extent permitted by
law.
	 
	27.	 	Relationship of the Parties It is the express intention of the parties hereto that
ECO is and shall be an independent contractor under this Agreement and no partnership, joint
venture, fiduciary relationship or other special relationship shall exist between ECO and
FIRST UNITED ETHANOL, LLC. This Agreement does not constitute ECO as the agent, legal
representative or employee of FIRST UNITED ETHANOL, LLC for any purpose whatsoever, and ECO is
not granted any right or authority to assume or create any obligation for or on behalf of, or
in the name of, FIRST UNITED ETHANOL, LCC or in any way to bind FIRST UNITED ETHANOL, LLC.
ECO agrees not to incur or contract for any debt or obligation on behalf of FIRST UNITED
ETHANOL, LLC, or commit any act, make any representation or advertise in any manner which may
adversely affect any right of FIRST UNITED ETHANOL, LLC, or be detrimental to the good name
and reputation of FIRST UNITED ETHANOL LLC.
	 
	28.	 	Entire Agreement This Agreement and any addendum, schedule or exhibit attached
hereto contains the entire agreement between the parties hereto and no representations,
inducements, promises, agreements, arrangements or undertakings, oral or written, have been
made or relied upon by the parties other than those set forth herein. No agreement altering,
changing, waiving or modifying any of the terms and conditions of this Agreement shall be
binding upon each party unless and until the same is made in writing and executed by all
interested parties. This Agreement may not be amended or supplemented by a course of conduct.

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	29.	 	Force Majeure No party shall be liable for any failure to perform any or all of the
provisions of this agreement if and to the extent that performance has been delayed or
prevented by reason of any cause beyond the reasonable control of such party. The expression
“Cause beyond the reasonable control: shall be deemed to include, but not be limited to: acts,
regulations, laws, or restraints imposed by any governmental body; wars, hostilities,
sabotage, riots, or commotions; acts of God; or fires, frost, storms, or lightning.
	 
	30.	 	FEPO / PPPO FEUL and ECO will mutually agree to document each transaction through
the completion of the FEPO and PPPO forms outlined in Exhibit D and Exhibit E.
	 
	30.	 	Counterparts
	 
	 	 	This Agreement may be signed in multiple counterpart copies, each of which will be deemed
the original.
DATED AND EXECUTED AS OF THIS 29th DAY OF December, 2006

	 	 	 	 	 
	FIRST UNITED ETHANOL, LLC	 	 
	 
	 	 	 	 
	BY:

	 	/s/ Anthony J. Flagg
 

	 	 
	 
	 	 	 	 
	Eco-Energy Inc.	 	 
	 
	 	 	 	 
	BY:

	 	/s/ Peter Nessler, Chief Operating
Officer
 

	 	 

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EXHIBIT A

Ethanol

ECO shall purchase 100% of the production of ethanol of FIRST UNITED ETHANOL, LLC’s plant on the
following terms:

	1.	 	ECO will pay Friday of each week for the shipments made by Friday of the previous week upon
receipt of Invoice, Bill of Lading, Return Bill of Lading, and Certificate of Analysis. All
paperwork for the previous week’s shipments must be received by 12:00 noon Sunday.
	 
	2.	 	FIRST UNITED ETHANOL, LLC is responsible for any and all of their local, state and federal
tax liabilities.
	 
	3.	 	ECO will provide scheduling and marketing for ethanol produced.
	 
	4.	 	ECO will be responsible for receivables risk on ethanol.
	 
	5.	 	ECO reserves the right to refuse business to anyone due to credit and market risk
	 
	6.	 	FIRST UNITED ETHANOL, LLC shall meet or exceed all specifications for E-grade denatured fuel
ethanol as well as any changes in fuel ethanol industry standards that might occur after the
execution of this agreement. (EXHIBIT C)
	 
	7.	 	FIRST UNITED ETHANOL, LLC will keep ECO informed on production forecasts, as well as daily
plant inventory balances.
	 
	8.	 	On all truck and rail shipments title and risk of loss of the ethanol will pass at the
loading flange between the plant and the truck or railcar. Unless otherwise specified ECO is
purchasing all ethanol on a FOB plant basis.
	 
	9.	 	FIRST UNITED ETHANOL, LLC will provide a minimum of 10 days storage on the FIRST UNITED
ETHANOL, LLC site.
	 
	10.	 	FIRST UNITED ETHANOL, LLC must have meters that measure both gross and net 60 degrees
Fahrenheit temperature corrected gallons.
	 
	11.	 	ECO shall deduct all unavoidable costs such as government tariffs or assessment fees, sales
taxes, import/export handling fees, assessments, inspection fees, or any other that has been
approved by the appropriate member of the board of directors.

Initials: AJF     PN

7

 

EXHIBIT B

ECO Transportation Services

	1.	 	ECO and FIRST UNITED ETHANOL, LLC have mutually agreed to the number of railcars
needed to service the Camilla, Georgia ethanol facility. Eco-Energy will agree to lease
Fifty (50) railcars in the name of ECO for the plant. Eco-Energy will pass through these
lease costs to FIRST UNITED ETHANOL, LLC for these (50) cars. FIRST UNITED ETHANOL, LLC can
declare that ECO assume the lease cost of the Fifty (50) railcars secured with a Twelve
(12) month notice. FIRST UNITED ETHANOL, LLC will lease One Hundred and Fifty (150)
railcars for their Camilla, Georgia facility. These lease costs will also be for the FIRST
UNITED ETHANOL, LLC account. Eco-Energy will maintain the responsibility of managing the
entire rail fleet
	 
	2.	 	All lease charges will be passed through from ECO to FIRST UNITED ETHANOL, LLC upon
receipt of invoice from the leasing company. ECO will make its’ best efforts to secure a
rail fleet lease to service the FIRST UNITED ETHANOL, LLC’s facility. If ECO is able to
secure a rail fleet lease, the terms of such lease will be mutually agreed upon between
FIRST UNITED ETHANOL, LLC and ECO. ECO shall not be liable for any delay or disruption in
FIRST UNITED ETHANOL, LLC’s project completion if they are not able to secure the rail
fleet necessary to service the facility, for reasons such as, but not limited to, railcar
market conditions or any other reason related to the leasing of railcars.
	 
	3.	 	Upon FIRST UNITED ETHANOL, LLC’s receipt of invoice from ECO the amount of the invoice
will be subtracted from ECO’s next Friday payment to FIRST UNITED ETHANOL, LLC for Ethanol
purchases unless otherwise communicated by FIRST UNITED ETHANOL, LLC that the amount of the
invoice will be remitted by wire transfer within five (5) business days from invoice date.
	 
	4.	 	If this agreement is cancelled for any reason, FIRST UNITED ETHANOL, LLC will be
responsible to take over all rail leases.
	 
	5.	 	ECO will negotiate rail rates in conjunction with FIRST UNITED ETHANOL, LLC.
	 
	6.	 	All rail contracts will be in the name of FIRST UNITED ETHANOL, LLC, or any name later
chosen in the alternative.
	 
	7.	 	FIRST UNITED ETHANOL, LLC will invoice ECO for rail freight along with a copy of the
actual railroad invoice. (This amount will be paid the following Friday upon receipt of
invoice.)
	 
	8.	 	ECO will purchase all truck and railcar gallons on an FOB plant basis.
	 
	9.	 	ECO will supply trucks.
	 
	10.	 	ECO will have sales representation developing the local ethanol market within
eight (8) weeks from the start of construction.

Initials: AJF     PN

8

 

ETHANOL MARKETING CONTRACT

GUARANTY

1. Guaranty. FC Stone, LLC (“Guarantor”) in recognition of the valuable working
relationship that it has established with Eco-Energy, Inc. (“Eco”), in connection with the
ethanol facility to be constructed in Camilla, Georgia by First United Ethanol, LLC, and in
order to induce First United Ethanol, LLC to enter into the foregoing Ethanol Marketing
Contract with ECO, hereby unconditionally and irrevocably guarantees to First United
Ethanol, LLC the timely performance by ECO, of all of its payments and other obligations to
First United Ethanol, LLC under the terms of the foregoing Ethanol Marketing Contract. This
Guaranty cannot be amended, modified, revoked or terminated without the prior written
consent of First United Ethanol, LLC and shall be governed by and shall be construed under
the laws of the State of Florida.

2. Waivers. Guarantor waives:

(i) Any right it may have to require First United Ethanol, LLC to proceed
against ECO, proceed against or exhaust any security held from ECO, or
pursue any other remedy in First United Ethanol’s power to pursue;

(ii) Any defense based on any legal disability of ECO, any discharge or
limitation of the liability of ECO to First United Ethanol, LLC, whether
consensual or arising by operation of law or any bankruptcy, reorganization,
receivership, insolvency, or debtor-relief proceeding, or from any other
cause, or any claim that Guarantor’s obligations exceed or are more
burdensome than those of ECO;

(iii) All presentments, demands for performance, notices of nonperformance,
protests, notices of protest, notices of dishonor, notices of acceptance of
this and of the existence, creation, or incurring of new or additional
indebtedness of ECO, and demands and notices of every kind;

(iv) Any defense based on or arising out of any defense that ECO may have to
the payment or performance of the foregoing Ethanol Marketing Contract or
any part of it; and

(v) All rights of subrogation, reimbursement, indemnification and
contribution (contractual, statutory or otherwise), including any claim or
right of subrogation under the Bankruptcy Code (Title 11 of the U.S. Code)
or any successor statute, all rights to enforce any remedy that First United
Ethanol, LLC may have against ECO, and all rights to participate in any
security now or later to be held by First United Ethanol, LLC for the
foregoing Ethanol Marketing Contract.

3. Financial Condition. Guarantor assumes full responsibility for keeping informed
of ECO’s financial condition and business operations and all other circumstances affecting
ECO’s ability to pay and perform its obligations to First United Ethanol, LLC., and agrees
that First United Ethanol LLC shall have no duty to disclose to Guarantor any information
which First United Ethanol LLC may receive about ECO’s financial condition, business
operations, or any other circumstances bearing on its ability to perform.

Peter Nessler-Vice President, Renewable Fuels

                    /s/ Peter Nessler               

Initials: AJF     PN

9

 

EXHIBIT C

(Definitions)

Swaps and Exchanges / Entitlement

Any transaction entered into by Eco for the sale or other disposition of Ethanol purchased by Eco
pursuant to this Agreement which is different than the transaction that Eco had originally
established or entered into for the sale or other disposition of such Ethanol by Eco at the time
Eco submitted its Purchase Order for such Ethanol to FUEL, and pursuant to which Eco obtains a net
profit which is greater than the net profit that Eco would have obtained if Eco had sold such
Ethanol in strict accordance with the original transaction.

Non-Deliveries

Any FEPO or PPPO that ECO and FUEL mutually agree upon would be contractual commitments on both
parties. Non-performance on these contracts would equate to non-deliveries.

Regulatory Agencies

EPA would be an example of a regulatory agency that would require documentation of this contract.

Bill of Lading

Paperwork documenting each load of ethanol. Outlines volume, destination, and railcar/truck
number, and specification

Return Bill of Lading

Paperwork that is submitted to the railroad documenting return shipping information of empty
railcars

E- grade Denatured Ethanol

E-Grade ethanol is the accepted standard specification of ethanol production within the industry.

Initials: AJF     PN

10

 

EXHIBIT D

FIRST UNITED ETHANOL LLC FEPO 12-19-06-1

ECO-ENERGY, INC.

FIXED ETHANOL PURCHASE ORDER

Dated: December 28, 2006

     Eco-Energy, Inc. (“EEI”) hereby submits this Purchase Order for Ethanol to First United
Ethanol LLC (“FUE”) pursuant to that certain Ethanol Purchase and Supply Agreement between EEI and
FUE dated as of December 28, 2006 (as the same may be amended, the “Agreement”).

Aggregate
Galls of Ethanol: + or –

Pick Up Dates for Ethanol Pick up:

Other:

Minimum Purchase Price for Ethanol: $___/GL FOB Camilla, GA (Less marketing fee)

Time Period for Acceptance of this Purchase Order (the “Acceptance Period”): Verbally Accepted by
                                         (Please sign)

This Purchase Order is irrevocable for the Acceptance Period or until the time at which this
Purchase Order becomes a Rejected Purchase Order as provided in the Agreement. EEI does not,
however, have a binding obligation to purchase any Ethanol pursuant to this Purchase Order unless
and until EEI enters into an agreement with a third party for the sale of the Ethanol by EEI to
such third party.

This Purchase Order is subject to acceptance by FUE as provided in the Agreement and is otherwise
tendered and made subject to and upon all of the terms and conditions of the Agreement.

	 	 	 	 	 
	 	 	ECO-ENERGY, INC.
	 
	 	 	 	 
	 

	 	 	 	By:
	 

	 	 	 	Name: Andy Sallee
	 

	 	 	 	Title: Chief Operating Officer
	 

	 	 	 	Date: December 28, 2006
	 

	 	 	 	E-Mail Address: andys@eco-energyinc.com

ACCEPTANCE OR REJECTION

     This Purchase Order is accepted/rejected (strike out and initial the one that does not apply)
by First United Ethanol L.L.C., subject to and upon all of the terms and conditions of the
Agreement

	 	 	 	 	 	 	 
	 	 	First United Ethanol LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 
	 	 	
Date:                                         , 20                    

Initials: AJF     PN

11

 

EXHIBIT E

FIRST UNITED ETHANOL LLC FEPO 12-19-06-1

ECO-ENERGY, INC.

POSTED PRICE ETHANOL PURCHASE ORDER

Dated: December 28, 2006

     Eco-Energy, Inc. (“EEI”) hereby submits this Purchase Order for Ethanol to First United
Ethanol LLC (“FUE”) pursuant to that certain Ethanol Purchase and Supply Agreement between EEI and
FUE dated as of December 28, 2006 (as the same may be amended, the “Agreement”).

	1.	 	Maximum Aggregate Gallons of Ethanol:
	 
	2.	 	Pick Up Dates for Ethanol:

Other:

	3.	 	Minimum Purchase Price for Ethanol (the “Posted Price”): $  per GL — FOB Camilla, GA (Less
mktg fee)
	 
	4.	 	Time Period Over Which the Posted Price Will Be Effective (the “Posted Price Sales Period”):
                                         Through 5:00 PM CST.
	 
	5.	 	Time Period for Acceptance of this Purchase Order (the “Acceptance Period”):
Verbally accepted by                                         

This Purchase Order is irrevocable for the Acceptance Period or until the time at which this
Purchase Order becomes a Rejected Purchase Order as provided in the Agreement. EEI does not,
however, have a binding obligation to purchase any Ethanol pursuant to this Purchase Order unless
and until EEI enters into an agreement with a third party for the sale of the Ethanol by EEI to
such third party during, and for pick-up by EEI during, the Posted Price Sales Period.

This Purchase Order is subject to acceptance by FUE as provided in the Agreement and is otherwise
tendered and made subject to and upon all of the terms and conditions of the Agreement.

	 	 	 	 	 
	 	 	ECO-ENERGY, INC.
	 
	 	 	 	 
	 

	 	 	 	By:
	 

	 	 	 	Name: Andy Sallee
	 

	 	 	 	Title: Chief Operating Officer
	 

	 	 	 	Date: December 28, 2006
	 

	 	 	 	E-Mail Address: andys@eco-energyinc.com

ACCEPTANCE OR REJECTION

     This Purchase Order is accepted/rejected (strike out and initial the one that does not apply)
by First United Ethanol L.L.C., subject to and upon all of the terms and conditions of the
Agreement

	 	 	 	 	 	 	 
	 	 	First United Ethanol LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 
	 	 	
Date:                                         , 20                    

Initials: AJF     PN

12

 

Ethanol Specification Standards

	 	 	 	 	 	 	 
	 	 	 	 	Specification Limit
	Property	 	Test Method	 	Magellan
	 
	Apparent Proof, 60F

	 	Hydrometer
	 	min. 200

	 

	 	 	 	max. 203

	 
	Fuel Ethanol Content, volume %

	 	ASTM D5501
	 	min. 95

	 

	 	 	 	max. 98 excluding water

	 
	Ethanol, volume %

	 	ASTM D5501
	 	min. 92.1%

	 
	Methanol, volume %

	 	ASTM D5501
	 	max. 0.5

	 
	Denaturant Content, volume %

	 	 	 	min. 1.96%

	 

	 	 	 	max. 4.74

	 
	Water, mass%

	 	ASTM E-203 or E-1064
	 	max. 0.82*

	 
	Solvent Washed Gum, mg/100ml

	 	ASTM D381
	 	max 5

	 
	Inorganic Chloride, mg/L

	 	ASTM D512 Proc. C
	 	max. 32

	 
	Copper Content, mg/kg

	 	ASTM D1688 Method A
	 	max. 0.08

	 
	Acidity, mass%

	 	ASTM D1613
	 	max. 0.007

	 
	pHe

	 	ASTM D6423
	 	min. 6.5

	 

	 	 	 	max. 9.0

	 
	Appearance

	 	 	 	Visibly free of suspended and/or
settled contaminants. (Clear & Bright)

	 
	Sulfur, ppm max

	 	ASTM D5453-93
	 	 	10	 
	 
	Sulfate, ppm max

	 	ASTM D5827
	 	 	1.00	 
	 

	 	ASTM D6174 mod.	 	 	 	 
	 

	 	ADM Proprietary	 	 	 	 
	 
	Benzene, vol% max

	 	ASTM D5580-95 - Test results of a sample
of the denaturant multiplied by 0.0476
	 	 	0.06	 
	 
	Olefins, vol% max

	 	ASTM D6550-00 - Test results of a sample
of the denaturant multiplied by 0.0476
	 	 	0.5	 
	 
	Aromatics, vol% max

	 	ASTM D5580-95 - Test results of a sample
of the denaturant multiplied by 0.0476
	 	 	1.7	 
	 
	 
	California Denaturant Standards

	 	 	 	 	 	 	 
	 	 	 	 	Specification Limit
	Property	 	Test Method	 	Magellan
	 
	Benzene, vol% max

	 	ASTM D5580-95
	 	 	1.1	 
	 
	Olefins, vol% max

	 	ASTM D6550-00 (modified)
	 	 	10	 
	 
	Aromatics, vol% max

	 	ASTM D5580-95
	 	 	35	 
	 

Initials: AJF     PN

13

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