Document:

Installment Sale Contract

 Exhibit 10-1 
 INSTALLMENT SALE CONTRACT (SECURITY AGREEMENT) 
 Transaction Number
1956832 
  

			
	 PURCHASER(S):
 SOUTHEAST POWER CORPORATION
 1805 HAMMOCK ROAD

TITUSVILLE, FL 32796
	  	 SELLER:
 RING POWER CORPORATION
 500 World Commerce Parkway

St. Augustine, FL 32092

	County: BREVARD	  	

 Subject to the Terms and Conditions set forth below of this Installment Sales Contract (Security Agreement) (this
“Contract”), Seller hereby sells the equipment described below (the “Unit” or “Units”) to Purchaser, and Purchaser (if more than one, jointly and severally), having been offered both a
cash sale price and a time sale price, hereby buys the Units from Seller on a time sale basis. 
  

																							
	 NEW

OR
 USED
	 	 (IF USED)

FIRST

USED
	 	 MODEL
	 	 DESCRIPTION OF UNIT(S)
	 	 	 	 	 	 	 SERIAL #
	 	VIN #	 	 	DELIVERED
CASH SALE
PRICE	 
	 See Attachment A.

 
	   
 

	FIRST 	 	DESCRIPTION OF ADDITIONAL SECURITY	  	 	Sub-Total	 				 	$	7,406,907.70	  
	USED	 	(MAKE, MODEL, SERIAL # & VIN #)	  	 		 	Sales Tax	 	 	495,969.70	  	 			
		 		 		 		 				 		 	Property Tax	 	 	0.00	  	 			
		 		 		 		 				 		 	Federal Excise Tax	 	 	0.00	  	 			
		 		 		 		 				 		 	Other Tax	 	 	0.00	  	 			
		 		 		 		 				 		 	Total Tax	 				 	$	495,969.70	  
	FIRST	 	 DESCRIPTION OF TRADE-IN SECURITY
	   
	 	1.	 	Total Cash Sales Price	 				 	$	7,902,877.40	  
	USED	 	(MAKE, MODEL, SERIAL # & VIN #)	  	 		 	Repairs	 	 	0.00	  	 			
		 		 		 		 				 		 	 Cash Down Payment
	 	 	0.00	  	 			
		 		 		 		 				 		 	 Rentals Allowed
	 	 	0.00	  	 			
		 		 		 		 				 		 	 Rental Interest
	 	 	0.00	  	 			
		 		 		 		 				 		 	 Net Trade-in Allowance
	 	 	0.00	  	 			
		 		 		 		 				 	2.	 	Total Down Payment	 				 	$	0.00	  
	Trade-in Value	 	 	0.00	  	 	3.	 	Unpaid Balance of Cash Price (1 - 2)	  	 	$	7,902,877.40	  
	Less Owing to	 	 	0.00	  	 	4.	 	Official Fees (Specify)	 				 	$	1,500.00	  
	Net Trade-in Allowance	 	 	0.00	  	 		 	Processing Fee	 	 	1,500.00	  	 			
		 		 		 		 				 		 	Filing Fee	 	 	0.00	  	 			
	Location of Equipment:	 	BASTROP, TX 78602, BASTROP	  	 		 	Stamp Fee	 	 	0.00	  	 			
		 		 		 		 				 		 	Freight Fee	 	 	0.00	  	 			
		 		 		 		 				 		 	Other Expenses	 	 	0.00	  	 			
		 		 		 		 				 	5.	 	Physical Damage Insurance	 				 	$	 	  
		 		 		 		 				 	6.	 	Principal Balance	 				 			
		 		 		 		 				 		 	(Amount Financed) (3 + 4 + 5)	  	 	$	7,904,377.40	  
		 		 		 		 				 	7.	 	Finance Charge	 				 			
		 		 		 		 				 		 	(Time Price Differential)	 				 	$	569,280.52	  
		 		 		 		 				 	8.	 	Time Balance	 				 			
		 		 		 		 				 		 	(Total of Payments) (6+7)	 				 	$	8,473,657.92	  
		 		 		 		 				 	9.	 	Time Sale Balance	 				 			
		 		 		 		 				 		 	(Total of Payment Price) (2+8)	  	 	$	8,473,657.92	  
		 		 		 		 				 	10.	 	Annual Percentage Rate	 				 	 	3.45	% 
		 		 		 		 				 	11. Date FINANCE CHARGE begins to accrue the first business day following the Seller’s execution of this Contract.	   

 If applicable, Purchaser hereby sells and conveys to Seller the above described Trade-in Equipment and warrants it to
be free and clear of all claims, liens, security interests and encumbrances except to the extent shown above. 
 LIABILITY INSURANCE
COVERAGE FOR BODILY INJURY AND PROPERTY DAMAGE CAUSED TO OTHERS AND ENVIRONMENTAL LIABILITY (IF APPLICABLE) IS NOT INCLUDED IN THIS CONTRACT. 
 NOTICE TO PURCHASER: (1) DO NOT SIGN THIS CONTRACT BEFORE YOU READ IT; (2) YOU ARE ENTITLED TO A COPY OF THE CONTRACT YOU SIGN; (3) UNDER THE LAW YOU MAY HAVE THE RIGHT TO
PAY OFF IN ADVANCE THE FULL AMOUNT DUE AND TO OBTAIN A PARTIAL REFUND OF THE FINANCE CHARGE; (4) IF THIS CONTRACT IS NOT EXECUTED BY PURCHASER AND RETURNED TO SELLER ON OR BEFORE AUGUST 10, 2012 THIS CONTRACT MAY BE CONSIDERED NULL AND VOID BY
SELLER. 

 TERMS AND CONDITIONS 
 1. PAYMENT: Purchaser shall pay to Seller, at Caterpillar Financial Services Corporation; PO Box 730681; Dallas, TX 75373-0681 or such other location Seller designates in writing, the Time Balance
(Item 8 above) as follows [check (a) or (b)]: 
 x (a) in 48 equal
monthly installments of $176,534.54 each, with the first installment due one month after the first business day following the Seller’s execution of this Contract, and the balance of the installments will be due on the like day of
each month thereafter, (except no payments shall be due during the month(s) of n/a), until the entire indebtedness has been paid; or 
  ̈ (b) in accordance with the Payment Schedule attached to this Contract. 
 Upon prepayment in
full of any or all of the Units or acceleration of the total unpaid Time Balance, Purchaser shall receive a rebate of the prorated unearned portion of the Finance Charge computed on an actuarial basis less an administrative fee of $275. Except as
otherwise expressly provided herein, the obligations of Purchaser hereunder shall not be affected by any defect in, damage to, loss of or interference with possession or use of any Unit, by the attachment of any lien or claim to any Unit, or for any
other cause. No partial prepayments shall be allowed and any amounts paid by Purchaser in excess of the invoiced amounts shall be applied to future installments. Payments that satisfy (or partially satisfy) future installments do not stop the
accrual of the Finance Charge. 
 2. LATE CHARGES: If Seller does not receive a payment or any portion thereof on the date it is due,
Purchaser shall pay to Seller, on demand, a late payment charge equal to five percent (5%) of the payment due or the highest charge then allowed by law, whichever is less. 
 3. DISCLAIMER OF WARRANTIES: Purchaser has selected each Unit based upon its own judgment. Purchaser acknowledges that each Unit is of a size, design and type selected by Purchaser and that Seller
is not a manufacturer of the Units. SELLER MAKES NO WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THIS CONTRACT OR TO ANY UNIT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, EACH UNIT IS SOLD “AS IS, WHERE IS”, AND SELLER
SPECIFICALLY MAKES NO WARRANTIES AS TO THE QUALITY OF MATERIALS OR WORKMANSHIP OR THE CONFORMITY THEREOF TO THE PROVISIONS AND SPECIFICATIONS OF ANY PURCHASE ORDER OR AGREEMENT RELATING THERETO. SELLER HEREBY EXPRESSLY DISCLAIMS, AND PURCHASER
HEREBY WAIVES, RELEASES AND RENOUNCES, ALL OTHER WARRANTIES AND CLAIMS EXPRESS OR IMPLIED, ARISING BY LAW OR OTHERWISE, WITH RESPECT TO ANY UNIT OR TO THIS CONTRACT, INCLUDING WITHOUT LIMITATION, (A) ANY IMPLIED WARRANTY THAT ANY UNIT IS
MERCHANTABLE; (B) ANY IMPLIED WARRANTY THAT ANY UNIT IS FIT FOR A PARTICULAR USE OR PURPOSE; (C) ANY IMPLIED WARRANTY ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE; (D) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM
OR REMEDY IN TORT; AND (E) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FOR LOSS OF OR DAMAGE TO ANY UNIT, FOR LOSS OF USE, REVENUE OR PROFIT WITH RESPECT TO ANY UNIT, FOR ANY LIABILITY OF SELLER TO ANY THIRD PARTY, OR FOR ANY OTHER
DIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING STRICT OR ABSOLUTE LIABILITY IN TORT. Seller assigns to Purchaser its interests in any of the manufacturer’s warranties on the Unit(s) and nothing contained herein shall be construed to
deprive Purchaser of whatever rights Purchaser may have against parties other than Seller (such as the manufacturer of any Unit) and Purchaser agrees to look solely to such third parties with respect to any and all claims concerning any Unit except
as to ownership and title. 
 4. POSSESSION, USE AND MAINTENANCE: Purchaser shall not (a) use, operate, maintain
or store a Unit improperly, carelessly, unsafely or in violation of any applicable law or regulation or for any purpose other than in the normal and ordinary course of Purchaser’s business; (b) abandon a Unit; (c) remove, disable, or
impair in any manner the Unit monitoring system such as Cat® Product Link, if the Unit is equipped with such
system; (d) lease a Unit, permit the use of a Unit by anyone other than Purchaser, or change the location of a Unit from that specified above, without the prior written consent of Seller; (e) sell, assign transfer or create or allow to
exist any lien, claim, security interest or encumbrance on any of its rights hereunder or in any Unit; (f) remove the Unit from the United States; or (g) operate the Unit in violation of U.S. Department of Transportation or appropriate
regulatory agency requirements. A Unit is and shall remain personal property regardless of its use or manner of attachment to realty. Seller and its agent shall have the right (but not the obligation) to inspect a Unit and maintenance records
relating to it, and observe its use and determine its hours of usage. Purchaser, at its expense, shall maintain each Unit in good operating order, repair and condition and perform maintenance at least as frequently as stated in any applicable
operator’s guide, service manual, or lubrication and maintenance guide. Purchaser shall not alter any Unit or affix any accessory or equipment to the Unit if doing so will impair its originally intended function or reduce the Unit’s value.
Purchaser shall not make any “non-reversible” addition (as defined for federal income tax purposes) to a Unit without the prior written consent of Seller. All parts which are added to any Unit which (i) are replacement parts,
(ii) are essential to the operation of such Unit, or (iii) cannot be detached from such Unit without materially interfering with the operation of such Unit or adversely affecting the value and utility which such Unit would have had without
the addition thereof, shall immediately be deemed incorporated in such Unit and subject to the terms of this Contract. If an Event of Default has occurred and is continuing, all parts, accessories and equipment affixed to a Unit shall become
property of Seller. 
 5. TAXES: Purchaser shall promptly pay all taxes, assessments, fees and other charges when levied or assessed
against any Unit or the ownership or use thereof, or this Contract or any payments made or to be made to Seller except income taxes assessed on Seller. 
 6. LOSS OR DAMAGE: From the time the Unit is purchased by Purchaser, Purchaser shall bear the risk of any Unit being worn out, lost, stolen, destroyed, taken by government action or, in
Seller’s opinion, irreparably damaged (“Casualty Occurrence”) or suffering any other damage. Purchaser shall provide prompt written notice of any Casualty Occurrence or other material damage to any Unit. In the event of
a Casualty Occurrence, Purchaser shall pay to Seller on the first payment due date following the Casualty Occurrence (thirty (30) days after the Casualty Occurrence if there are no future payment due dates remaining) the lesser of (a) the
sum of all amounts then due under this Contract with respect to the Unit suffering the Casualty Occurrence (including any late charges and fees) and the present value of all unpaid, future payments for the Unit; or (b) the maximum amount then
permitted by law. Present values will be determined by discounting at the implicit interest rate of this Contract. Upon making this payment, the obligations with respect to the Unit shall terminate and Purchaser shall be entitled to possession of
the Unit and to any recovery in respect to it (subject to the rights of any insurer). 

 7. WAIVER AND INDEMNITY: Purchaser hereby releases and shall indemnify, defend and keep harmless
Seller and any assignee thereof, and their respective directors, officers, agents and employees (each, an “Indemnitee”), from and against any and all Claims (as defined below) (other than such as may directly result from the
actual, but not imputed, gross negligence or willful misconduct of such Indemnitee), by paying, on a net after-tax basis, or otherwise discharging same, when and as such Claims shall become due. Purchaser agrees that the indemnity provided pursuant
to this Section includes the agreement by Purchaser to indemnify each Indemnitee from the consequences of its own simple negligence, whether that negligence is the sole or concurring cause of the Claims, and to further indemnify each such Indemnitee
with respect to Claims for which such Indemnitee is strictly liable. Seller shall give Purchaser prompt notice of any Claim hereby indemnified and Purchaser shall be entitled to control the defense of and/or to settle any Claim, in each case, so
long as (a) no Event of Default (as defined in Section 9) has occurred and is then continuing, (b) Purchaser confirms, in writing, its unconditional and irrevocable commitment to indemnify each Indemnitee with respect to such
Claim, (c) Purchaser is financially capable of satisfying its obligations under this Section, and (d) Seller approves the defense counsel selected by Purchaser. “Claims” shall mean all claims, allegations, harms,
judgments, settlements, suits, actions, debts, obligations, damages (whether incidental, consequential or direct), demands (for compensation, indemnification, reimbursement or otherwise), losses, penalties, fines, liabilities (including strict
liability), and charges that Seller has incurred or for which it is responsible, in the nature of interest, liens, and costs (including attorneys’ fees and disbursements and any other legal or non-legal expenses of investigation or defense of
any Claim, whether or not such Claim is ultimately defeated or enforcing the rights, remedies or indemnities provided for hereunder, or otherwise available at law or equity to Seller), of whatever kind or nature, contingent or otherwise, matured or
unmatured, foreseeable or unforeseeable, by or against any person, arising on account of (i) this Contract, including the performance, breach (including any Event of Default) or enforcement of any of the terms thereof, or (ii) any Unit, or
any part or other contents thereof, any substance at any time contained therein or emitted therefrom, including any hazardous substances, or the premises at which any Unit may be located from time to time, or (iii) the ordering, acquisition,
delivery, installation or rejection of any Unit, the possession or any property to which it may be attached from time to time, maintenance, use, condition, ownership or operation of any Unit, and by whomsoever owned, used, possessed or operated,
during the term hereof, the existence of latent and other defects (whether or not discoverable by Seller or Purchaser) any Claim in tort for negligence or strict liability, and any Claim for patent, trademark or copyright infringement, or the loss,
damage, destruction, theft, removal, return, surrender, sale or other disposition of any Unit, or any item thereof, including, Claims involving or alleging environmental damage, or any criminal or terrorist act, or for any other reason whatsoever.
If any Claim is made against Purchaser or an Indemnitee, the party receiving notice of such Claim shall promptly notify the other, but the failure of the party receiving notice to so notify the other shall not relieve Purchaser of any obligation
hereunder. Further, Purchaser agrees to be responsible for all costs and expenses, including reasonable attorneys’ fees, incurred by Seller or its directors, officers, employees, agents and assigns in defending such claims or in enforcing this
provision. Under no condition or cause of action shall Seller be liable for any loss of actual or anticipated business or profits or any special, indirect or consequential damages. 
 8. INSURANCE: Throughout the term of this Contract, Purchaser, at its expense, shall keep each Unit and Additional Security (as listed above) insured with a commercial insurance policy for the
benefit of Seller (and its assignee) against all risks for their full insurable value and shall maintain comprehensive public liability insurance in an amount reasonably acceptable to Seller. All insurance shall be in a form and with companies as
Seller shall approve, shall specify Seller (and its assignee) as loss payee, shall be primary, without the right of contribution from any other insurance carried by Seller, and shall provide that the insurance may not be canceled or altered so as to
affect the interest of Seller without at least ten (10) days’ prior written notice to Seller. Purchaser shall not make adjustments with insurers except with Seller’s prior written consent and hereby irrevocably appoints Seller as
Purchaser’s attorney-in-fact to receive payment of and to endorse all checks, drafts and other documents and to take any other actions necessary to pursue insurance claims and recover payments if Purchaser fails to do so. Purchaser shall
promptly notify Seller of any occurrence which may become the basis of a claim and shall provide Seller with all requested pertinent data. Purchaser shall promptly deliver to Seller evidence of such insurance coverage. 

9. EVENTS OF DEFAULT: Each of the following constitutes an event of default (“Event of Default”):
(a) Purchaser fails to make any payment when due; (b) any representation or warranty made to Seller in connection with this Contract is incorrect or misleading; (c) Purchaser fails to observe or perform any covenant, agreement or
warranty made by Purchaser and the failure continues for ten (10) days after written notice to Purchaser; (d) any default occurs under any other agreement between Purchaser or any guarantor of this Contact and Seller or any affiliate of
Seller; (e) Purchaser or any guarantor of this Contract ceases to do business, dies, becomes insolvent, makes an assignment for the benefit of creditors or files any petition or action under any bankruptcy, reorganization, insolvency or
moratorium law, or any other law or laws for the relief of, or relating to, debtors; (f) filing of any involuntary petition under any bankruptcy statute against Purchaser or any guarantor of this Contract, or appointment of a receiver, trustee,
custodian or similar official to take possession of the properties of Purchaser or any guarantor of this Contract, unless the petition or appointment ceases to be in effect within thirty (30) days after filing or appointment; (g) there is
a material adverse change in Purchaser’s or guarantor’s financial condition, business operations or prospects; and/or (h) termination, breach or repudiation of a guaranty obtained by Seller in connection with this Contract.

 10. REMEDIES: If an Event of Default occurs, Seller, at its option, may exercise any one or more of the following remedies:
(a) proceed at law or in equity, to enforce specifically Purchaser’s performance or to recover damages; (b) declare this Contract in default, and cancel this Contract or otherwise terminate Purchaser’s right to use the Units and
Purchaser’s other rights, but not its obligations, hereunder; (c) declare all amounts due or to become due under this Contract, excluding any unearned portion of the Finance Charge, immediately due and payable; (d) recover any
additional damages and expenses sustained by Seller by reason of the breach of any covenant, representation or warranty contained in this Contract; (e) enforce the security interest granted herein; (f) require Purchaser to assemble the
Units and Additional Security and make them available to Seller at a place designated by Seller which is reasonably convenient to both parties; (g) enter any premises where any Unit or Additional Security may be located and take immediate
possession thereof and remove (or disable in place) such Unit (and/or any unattached parts) without notice, liability, or legal process; and (h) if Seller financed Purchaser’s obligations under any extended warranty agreement such as an
Equipment Protection Plan, Extended Service Contract, Extended Warranty, Customer Service Agreement, Total Maintenance and Repair Agreement or similar agreement, Seller may cancel such extended warranty agreement on Purchaser’s behalf and
receive the refund of the extended warranty agreement fees that Seller financed but had not received from Purchaser as of the date of Event of Default. Time is of the essence of this Contract. Purchaser agrees to pay all charges, costs, expenses and
reasonable attorney’s fees (to the extent then permitted by applicable law) incurred by Seller in enforcing this Contract. Seller shall have all rights given to a secured party by law and may retain all monies paid by Purchaser hereunder as
compensation for the reasonable use of the Units by Purchaser. Seller may, at its option, undertake commercially reasonable efforts to sell a Unit and Additional Security, and the proceeds of any such sale shall be applied: First, to
reimburse Seller for all reasonable expenses of retaking, holding, preparing for sale, and selling the Units and Additional Security, including any taxes, charges, costs, expenses and reasonable attorneys’ fees incurred by Seller; and
second, to the extent not previously paid by Purchaser, to pay Seller all amounts then due or accrued under this Contract, including any accelerated payments, late payment charges, and fees. Further, Purchaser agrees that the proceeds
received from the sale of each Unit shall be applied first to the outstanding obligations owed under this Contract (as provided above) and, as applicable, any surplus shall be applied to any other existing and future indebtedness or obligations of
Purchaser to Seller and/or Seller’s affiliates. Purchaser shall promptly pay any deficiency to Seller. Purchaser acknowledges that sales for cash or on credit to a wholesaler, retailer or user of a Unit or Additional Security, with or without
the Unit or Additional Security being present at such sale, are all commercially reasonable. To the extent that Purchaser is entitled to a refund from Seller for any reason, Purchaser agrees that Seller shall have the right to offset any obligation
that Purchaser has with Seller or Seller’s affiliates with such refund, and in the event that a refund is less than or equal to Seller’s cost of returning such refund to Purchaser, Seller may retain such refund if no obligation to Seller
or Seller’s affiliates exists. The remedies provided to Seller shall be cumulative and in addition to all other remedies at law or in equity. If Purchaser fails to perform any of its obligations under this Contract, Seller may (but need not) at
any time thereafter perform such obligation, and the expenses incurred in connection therewith shall be payable by Purchaser upon demand. 

 11. SECURITY INTEREST; PURCHASER ASSURANCES AND REPRESENTATIONS: To secure
payment of Purchaser’s indebtedness to Seller hereunder and the performance of all obligations of Purchaser hereunder, Purchaser hereby grants to Seller a continuing security interest in the Units and in the Additional Security, if any,
including all attachments, accessories and optional features therefor (whether or not installed thereon) and all substitutions, replacements, additions and accessions thereto, and proceeds of all the foregoing, including, but not limited to,
proceeds in the form of chattel paper to secure the payment of all sums due hereunder. Purchaser will, at its expense, do any act and execute, acknowledge, deliver, file, register and record any documents which Seller deems desirable in its
discretion to protect Seller’s security interest in the Unit and Seller’s rights and benefits under this Contract, including but not limited to having Seller recorded as first lien holder on the Unit title. Purchaser hereby irrevocably
appoints Seller as Purchaser’s Attorney-in-Fact for the signing and filing of such documents and authorizes Seller to delegate these limited powers. Purchaser acknowledges the signature of Seller or said delegatee upon such documents to be the
same as Purchaser’s own for all purposes and with the present intent to authenticate the document. Purchaser represents and warrants to Seller that (a) Purchaser has the power to make, deliver and perform under this Contract; (b) the person
executing and delivering this Contract is authorized to do so on behalf of Purchaser; (c) Purchaser will use the Unit for business purposes only and not for personal, family or household use; (d) this Contract constitutes a valid obligation of
Purchaser, legally binding upon it and enforceable in accordance with its terms; (e) Purchaser shall provide all financial information and reporting as Seller may reasonably required; (f) all credit, financial and other information submitted to
Seller in connection with this Contract is and shall be true, correct and complete; (g) Purchaser will not change its name, principal place of business or primary residence and, if a business entity, state of formation or form of business
organization (including any merger, consolidation, reincorporation or such similar restructuring) without prior written notice to Seller; (h) Purchaser has sole responsibility for complying with use related regulations in regard to the Unit(s),
including rules or limits on idling, fleet average or site based exhaust emissions, or operational limitations; and (i) Seller may share any Purchaser information provided by Purchaser and/or gathered by Seller with any affiliate of Seller that has
or may extend credit to Purchaser. In the event any Unit is equipped with an Unit monitoring system such as Cat®
Product Link, Purchaser agrees to permit Caterpillar Inc. or any of its subsidiaries or affiliates, including Caterpillar Financial Services Corporation (collectively “Caterpillar”), and/or Caterpillar dealers to access data concerning the
Unit, its condition and its operation that will be transmitted from the monitoring system (a) to administer, implement and enforce the terms and conditions of this Contract, (b) recover the Unit if necessary, and/or (c) to improve upon
Caterpillar’s products and services. Purchaser understands and agrees that the information transmitted may include the serial number, VIN number, location, operational data, including but not limited to fault codes, emissions data, fuel usage,
service meter hours, software and hardware version numbers, and installed attachments. 
 12. ASSIGNMENT; COUNTERPARTS: Purchaser agrees
that Seller may assign, sell or encumber all or any part of this Contract, the payments hereunder, and the Units or any portion thereof with or without notice to Purchaser. In the event of any such assignment, Purchaser agrees to unconditionally pay
directly to any such assignee such amounts Seller receives from Purchaser in good, collected funds which relate directly to the interests so assigned. THE RIGHTS OF ANY SUCH ASSIGNEE SHALL NOT BE SUBJECT TO ANY DEFENSE, COUNTERCLAIM OR SET OFF WHICH
PURCHASER MAY HAVE AGAINST SELLER. If requested, Purchaser shall assist Seller in the assignment of any of the rights under this Contract, shall sign a notice of assignment in a form approved by Seller and if notified by Seller, Purchaser shall make
all payments due under this Contract to the party designated in the notice without offset or deduction. In connection with any potential or actual assignment, Purchaser hereby consents to the sharing of its credit file information, including
personal information relating to Purchaser’s principals, with any potential assignee or any employee, agent or other representative thereof, so long as such recipient agrees with Seller to maintain the confidentiality of such information.
Purchaser shall not assign this Contract or any right or obligation under it without the prior written consent of Seller. Upon any assignment by Seller of its rights hereunder, and except as may otherwise be provided herein, all references in this
Contract to “Seller” shall include such assignee. Subject always to the foregoing, this Contract shall inure to the benefit of, and are binding upon, Purchaser’s and Seller’s respective successors and assigns. Although multiple
counterparts of this document may be signed, only the counterpart accepted, acknowledged and certified by Seller on the signature page thereof as the original will constitute original chattel paper. A photocopy or facsimile of this Contract will be
legally admissible under the “best evidence rule.” A signed copy of this Contract and/or any related document sent by electronic means shall be treated as an original document and shall be admissible as evidence thereof, and all signatures
thereon shall be binding as if manual signatures were personally delivered. 
 13. EFFECT OF WAIVER; ENTIRE AGREEMENT; NOTICES; APPLICABLE
LAW: A delay or omission by Seller to exercise any right or remedy shall not impair any right or remedy and shall not be construed as a waiver of any breach or default. Any waiver or consent by Seller must be in writing. This Contract, each
Schedule, any riders or addenda hereto completely states the rights of Seller and Purchaser and supersedes all prior agreements with respect to a Unit. All notices shall be in writing, addressed to the other party at the address stated on the front
or at such other address as may hereafter be furnished in writing. This Contract shall be governed by and construed under the laws of the State of Tennessee, without giving effect to the conflict-of-laws principles thereof, and Purchaser hereby
consents to the jurisdiction of any state or federal court located within the State of Tennessee. THE PARTIES HERETO HEREBY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION ARISING OUT OF OR RELATED TO THIS CONTRACT, THE OBLIGATIONS OR THE COLLATERAL.

 14. NO AGENCY; MODIFICATION OF CONTRACT: Purchaser expressly acknowledges that no action, statement, representation, warranty,
promise, agreement or undertaking taken or made by any person or entity other than an authorized employee of the Seller shall be binding upon Seller. No statement, representation, warranty, promise, agreement or undertaking made by any authorized
employee of Seller shall be binding upon Seller unless in a writing signed by Seller. Any waiver, amendment, abridgement, abrogation or other modification of any provision of this Contract or any provision of any of the related documents must be in
a writing signed by Seller and Purchaser; provided, however, Purchaser agrees that Seller may correct patent errors herein and fill in such blanks such as serial numbers, VIN numbers, dates and the like. 

15. INTERPRETATION; HEADINGS: If more than one (1) Purchaser is party to this Contract, the liability of the Purchasers shall be joint and
several. Each reference to “Purchaser” herein shall be deemed to refer to each Purchaser. Any Purchaser may act for the other Purchasers under this Contract and any such action shall be binding on all other Purchasers as if each had taken
such action. Any occurrence of an Event of Default shall be deemed to be a default by all Purchasers. Each Purchaser waives any right to require Seller to proceed against any other party, proceed against or exhaust any security held by or from any
party, or pursue any other remedy in Seller’s power. The various headings of this Contract are inserted for convenience of reference only and shall not affect the meaning or interpretation of this Contract or any provision thereof. 

16. SEVERABILITY; SURVIVAL OF COVENANTS: If any provision of this Contract shall be invalid under any law, it shall be deemed omitted but the
remaining provisions hereof shall be given effect. All obligations of Purchaser under this Contract shall survive the expiration or termination of this Contract to the extent required for their full observance and performance. 

By execution hereof, the signer hereby certifies that such signer has read this Contract and all schedules, riders and addendums attached hereto.
Until this Contract (or identical counterpart thereof) has been signed by a duly authorized representative of Seller, it shall constitute an offer by Purchaser to enter into this Contract with Seller on the terms stated herein. 

 

			
	Purchaser(s):
	SOUTHEAST POWER CORPORATION
		
	By	 	 /s/ Stephen R. Wherry

			
		
	Name (PRINT)	 	 Stephen R. Wherry

			
		
	Title	 	 Treasurer

		
	Date	 	 July 16, 2012

 

					
		 	Seller:
		 	RING POWER CORPORATION
			
		 	By	 	 /s/ Jon Marc Fowler

					
			
		 	Name (PRINT)	 	 Jon Marc Fowler

					
			
		 	Title	 	 VP Credit Manager

			
		 	Date	 	 July 16, 2012

 
 

 Attachment A to Installment Sale Contract 
 Transaction Number 1956832 
  

			
	 between
	  	SOUTHEAST POWER CORPORATION (Purchaser(s))
	 and
	  	RING POWER CORPORATION (Seller)

 EQUIPMENT DESCRIPTION SCHEDULE 
  

													
	 NEW OR USED
	 	 MODEL
	 	 DESCRIPTION ON UNIT(S)
	 	SERIAL #	 	 VIN #
	 	DELIVERED
CASH SALE
PRICE	 
						
	 (1) New
	 	1800	 	 National Bucket Trucks Freightliner Coronado SD Chassis
	 	DBJ4140	 	1FVPGNDV1CDBJ4140	 	$	503,181.82	  
	 (1) New
	 	416E	 	 Caterpillar Backhoe Loader
	 	LMS02128	 		 	$	76,755.00	  
	 (1) New
	 	416E	 	 Caterpillar Backhoe Loader
	 	LMS02129	 		 	$	76,755.00	  
	 (1) New
	 	416E	 	 Caterpillar Backhoe Loader
	 	LMS01827	 		 	$	76,755.00	  
	 (1) New
	 	TL1055	 	 Caterpillar Telehandler
	 	TBM01532	 		 	$	131,209.00	  
	 (1) New
	 	TL1055	 	 Caterpillar Telehandler
	 	TBM01542	 		 	$	131,209.00	  
	 (1) Used
	 	D6TLGP	 	 Caterpillar Track Type Tractor
	 	KJL00628	 		 	$	265,000.00	  
	 (1) Used
	 	D6TLGP	 	 Caterpillar Track Type Tractor
	 	KJL00791	 		 	$	281,000.00	  
	 (1) Used
	 	D7RXRII	 	 Caterpillar Track Type Tractor
	 	AGN01607	 		 	$	331,000.00	  
	 (1) Used
	 	D7RXRII	 	 Caterpillar Track Type Tractor
	 	AGN01608	 		 	$	342,000.00	  
	 (1) Used
	 	950H	 	 Caterpillar Medium Wheel Loader
	 	K5K02750	 		 	$	195,000.00	  
	 (1) Used
	 	950H	 	 Caterpillar Medium Wheel Loader
	 	K5K02734	 		 	$	195,000.00	  
	 (1) Used
	 	938H	 	 Caterpillar Small Wheel Loader
	 	CRD02716	 		 	$	132,000.00	  
	 (1) Used
	 	938H	 	 Caterpillar Small Wheel Loader
	 	RTB03741	 		 	$	153,000.00	  
	 (1) New
	 	AFS608	 	 Condux 27,000 LB PULLER with Trailer
	 		 	1C9HU1822B0032111	 	$	330,783.75	  
						
	 (1) New
	 	AFS608	 	 Condux 27,000 LB PULLER with Trailer
	 		 	1C9HU1823A00032102	 	$	330,783.75	  
						
	 (1) New
	 	FRT607	 	 Condux 3 DRUM BUNDLE TENSIONER with Trailer
	 		 	1C9HU1922B0032110	 	$	472,439.00	  
	 (1) New
	 	FRT607	 	 Condux 3 DRUM BUNDLE TENSIONER with Trailer
	 		 	1C9HU1923A0032101	 	$	472,439.00	  
	 (1) New
	 	RW23	 	 Condux REEL WINDER with Trailer
	 		 	1Z9PU1628BM026192	 	$	62,610.00	  
						
	 (1) New
	 	RW23	 	 Condux REEL WINDER with Trailer
	 		 	1Z9PU1626BM026191	 	$	62,610.00	  
						
	 (1) New
	 	HARDLINKIT	 	 ROPEKIT-B REPO/REEL HARDLINE KIT 22MM
	 		 		 	$	150,704.00	  
	 (1) New
	 	HARDLINKIT	 	 ROPEKIT-B REPO/REEL HARDLINE KIT 22MM
	 		 		 	$	150,704.00	  
	 (1) New
	 	RS20B	 	 REEL STAND REEL STAND 102x70
	 	AK333	 		 	$	22,199.17	  
	 (1) New
	 	RS20B	 	 REEL STAND REEL STAND 102x70
	 	AK3340	 		 	$	22,199.17	  
	 (1) New
	 	RS20B	 	 REEL STAND REEL STAND 102x70
	 	AK339	 		 	$	22,199.17	  
	 (1) New
	 	RS20B	 	 REEL STAND REEL STAND 102x70
	 	AK3341	 		 	$	22,199.17	  
	 (1) New
	 	RS2OHB-B	 	 REEL STAND REEL STAND 102x70 W/ H BRAKET
	 	AK331	 		 	$	27,096.81	  
	 (1) New
	 	RS2OHB-B	 	 REEL STAND REEL STAND 102x70 W/ H BRAKET
	 	AK332	 		 	$	27,096.81	  
	 (1) New
	 	RS2OHB-B	 	 REEL STAND REEL STAND 102x70 W/ H BRAKET
	 	AK326	 		 	$	27,096.81	  
	 (1) New
	 	RS2OHB-B	 	 REEL STAND REEL STAND 102x70 W/ H BRAKET
	 	AK327	 		 	$	27,096.81	  
	 (1) New
	 	HELI-BLOCK	 	 Condux QTY 204, STRINGING BLOCK
	 	0612-0001
THROUGH
0612-0204	 		 	$	777,240.00	  
	 (1) New
	 	1800	 	 National Bucket Trucks Freightliner Coronado SD Chassis
	 	DBJ4144	 	1FVPGNDV9CDBJ4144	 	$	503,181.82	  
	 (1) New
	 	1800	 	 National Bucket Trucks Freightliner Coronado SD Chassis
	 	DBJ4143	 	1FVPGNDV9CDBJ4143	 	$	503,181.82	  
	 (1) New
	 	1800	 	 National Bucket Trucks Freightliner Coronado SD Chassis
	 	DBJ4142	 	1FVPGNDV5CDBJ4142	 	$	503,181.82	  

  

													
	Purchaser(s):	 		 	Seller:
	SOUTHEAST POWER CORPORATION	 		 	RING POWER CORPORATION
					
	By	 	 /s/ Stephen R. Wherry
	 		 	By	 	 /s/ Jon Marc Fowler

	Name (PRINT)	 	 Stephen R. Wherry
	 		 	Name (PRINT)	 	 Jon Marc Fowler

	Title	 	 Treasurer
	 		 	Title	 	 VP Credit Manager

	Date	 	 July 16, 2012
	 		 	Date	 	 July 16, 2012Amendment to Installment Sale Contract

 Exhibit 10-2 
 AMENDMENT TO INSTALLMENT SALE CONTRACT (SECURITY AGREEMENT) 
 This
AMENDMENT TO INSTALLMENT SALE CONTRACT (SECURITY AGREEMENT) (this “Amendment”) dated as of July 16, 2012 is by and between RING POWER CORPORATION (“Seller”) and SOUTHEAST POWER CORPORATION
(“Purchaser”). 
 WHEREAS, Seller and Purchaser executed that certain Installment Sale Contract (Security
Agreement) (Transaction Number 1956832), which is dated as of the date of this Amendment (the “Contract”); and 
 WHEREAS, Seller and Purchaser desire to amend the Contract with respect to the matters hereinafter specified; 
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree to amend the Contract as follows: 

 

	1.	Section 4(d) of the Contract is hereby amended by replacing the text thereof with the following text: “(d) lease a Unit or permit the use of a Unit by anyone
other than Purchaser, without the prior written consent of Seller;” 

  

	2.	All capitalized terms used herein but not otherwise defined shall have the meaning given to such terms in the Contract. 

 

	3.	Except as provided herein, the Contract shall remain unchanged and in full force and effect in accordance with their respective terms. Any additional modifications are
null and void unless approved in writing by Seller. It is specifically understood and agreed that the foregoing shall not be deemed to be a waiver or amendment of any other provision contained in the Contract or any of Seller’s rights or
remedies under the Contract. 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth
above. 
  

									
	RING POWER CORPORATION	 		 	SOUTHEAST POWER CORPORATION
	(Seller)	 		 	(Purchaser)
					
	By:	 	 /s/ Jon Marc Fowler
	 		 	By:	 	 /s/ Stephen R. Wherry

					
	Name:	 	 Jon Marc Fowler
	 		 	Name:	 	 Stephen R. Wherry

					
	Title:	 	 VP Credit Manager
	 		 	Title:	 	 Treasurer

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