Document:

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                                                                    EXHIBIT 10.2

                                OMNIBUS AGREEMENT

                                     BETWEEN

                            PENN OCTANE CORPORATION,

                                RIO VISTA GP LLC,

                         RIO VISTA ENERGY PARTNERS L.P.

                                       AND

                      RIO VISTA OPERATING PARTNERSHIP L.P.

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                                OMNIBUS AGREEMENT

      THIS OMNIBUS AGREEMENT is entered into as of [______________], 2004 by and
among Penn Octane Corporation, a Delaware corporation ("POCC"), Rio Vista GP
LLC, a Delaware limited liability company (the "General Partner"), Rio Vista
Energy Partners L.P., a Delaware limited partnership (the "Partnership"), and
Rio Vista Operating Partnership L.P. (the "Operating Partnership"). The
above-named entities are sometimes referred to in this Agreement each as a
"Party" and collectively as the "Parties."

                                    RECITALS:

      WHEREAS, POCC and its Affiliates (as defined herein) formed the
Partnership, the General Partner and the Operating Partnership for the purpose
of conducting of the Business (as defined below);

      WHEREAS, certain assets and services used by POCC or its Affiliates in the
conduct of the Business prior to the formation of the Partnership were not
transferred to the Partnership;

      WHEREAS, the Parties desire to ensure the continued effective operation of
the Business, and the Parties recognize that the continued effective operation
of the Business requires that POCC provide certain management and employee
services to the Business as set forth in this Agreement; and

      WHEREAS, the Parties desire to evidence other agreements and
relationships, as more fully set out in this Agreement, with respect to the
transfer of the Business to the Partnership and the Operating Partnership as
well as the operation of the Business by the Partnership and the Operating
Partnership.

      NOW THEREFORE, in consideration of the premises and the covenants,
conditions, and agreements contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
Parties hereto hereby agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

      DEFINITIONS. (a) As used in this Agreement, the following terms shall have
the respective meanings set forth below:

      "Affiliate" means, with respect to any Person, any other Person that
directly or indirectly through one or more intermediaries controls, is
controlled by or is under common control with, the Person in question. As used
herein, the term "control" means the possession, direct or indirect, of the
power to direct or cause the direction of the management and policies of a
Person, whether through ownership of voting securities, by contract or
otherwise.

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      "Agreement" means this Omnibus Agreement, as it may be amended, modified,
or supplemented from time to time in accordance with Section 4.7 hereof.

      "Assets" means the "Contributed Assets" as such term is defined in the
Contribution Agreement.

      "Business" means (i) providing transportation, terminalling and
distribution services for hydrocarbon products and by-products, and (ii)
marketing and selling hydrocarbon products and by-products.

      "Closing Date" means the date of the Distribution.

      "Conflicts Committee" is defined in the Partnership Agreement.

      "control" means the possession, directly or indirectly, of the power to
direct or cause the direction of the management and policies of a Person,
whether through ownership of voting securities, by contract or otherwise.

      "Contribution Agreement" means the Contribution, Conveyance and
Assumption Agreement, dated [______________], 2004, by and among various POCC
Entities, the Partnership, the Operating Partnership, the General Partner and
Rio Vista Operating GP LLC, a Delaware limited liability company.

      "Covered Environmental Losses" is defined in Section 2.1(a).

      "Distribution" means the distribution by POCC of all the outstanding
common units of the Partnership representing limited partner interests to the
stockholders of POCC.

      "Environmental Laws" means all federal, state, and local laws, statutes,
rules, regulations, orders, and ordinances, now or hereafter in effect, relating
to protection of human health and the environment including, without limitation,
the federal Comprehensive Environmental Response, Compensation, and Liability
Act, the Superfund Amendments Reauthorization Act, the Resource Conservation and
Recovery Act, the Clean Air Act, the Federal Water Pollution Control Act, the
Toxic Substances Control Act, the Oil Pollution Act, the Safe Drinking Water
Act, the Hazardous Materials Transportation Act, and other environmental
conservation and protection laws, each as amended from time to time.

      "General Partner" is defined in the introduction to this Agreement.

      "Hazardous Substance" means any substance that is designated, defined, or
classified as a hazardous waste, hazardous material, pollutant, contaminant, or
toxic or hazardous substance, or that is otherwise regulated under any
Environmental Law, including, without limitation, any hazardous substance as
defined under the Comprehensive Environmental Response, Compensation, and
Liability Act.

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      "Indemnified Party" means the Partnership Entities or the POCC Entities,
as the case may be, in their capacity as the parties entitled to indemnification
in accordance with Article II.

      "Indemnifying Party" means either the Partnership Entities or the POCC
Entities, as the case may be, in its capacity as the parties from whom
indemnification may be sought in accordance with Article II.

      "Losses" means any losses, damages, liabilities, claims, demands, causes
of action, judgments, settlements, fines, penalties, costs, and expenses
(including, without limitation, court costs and reasonable attorney's and
expert's fees) of any and every kind or character.

      "POCC" is defined in the introduction to this Agreement.

      "POCC Entities" means POCC and each of its Subsidiaries (other than the
General Partner, the Partnership and any Subsidiary of the Partnership).

      "Partnership" is defined in the introduction to this Agreement.

      "Partnership Agreement" means the First Amended and Restated Agreement of
Limited Partnership of Rio Vista Energy Partners L.P., dated as of, and in the
form on, the Closing Date. No amendment or modification to the Partnership
Agreement subsequent to the Closing Date shall be given effect for the purposes
of this Agreement unless consented to by each of the Parties to this Agreement.

      "Partnership Entities" means the Partnership, the General Partner and each
Subsidiary of the Partnership.

      "Party" and "Parties" is defined in the introduction to this Agreement.

      "Pass-Through Environmental Losses" is defined in Section 2.1(b).

      "Person" means an individual or a corporation, limited liability company,
partnership, joint venture, trust, unincorporated organization, association,
government agency or political subdivision thereof or other entity.

      "Retained Assets" means, collectively, any assets and investments owned
by any of the POCC Group that were not conveyed, contributed or otherwise
transferred to any of the Partnership Entities prior to or on the Closing Date.

      "Services" is defined in Section 3.1.

      "Subsidiary" means, with respect to any Person, (a) a corporation of which
more than 50% of the voting power is owned, directly or indirectly, at the date
of determination, by such Person, by one or more Subsidiaries of such Person or
a combination thereof, (b) a partnership (whether general or limited) in which
such Person or a Subsidiary of such Person is, at the date of determination, a
general or limited partner of such partnership, but only if more than 50% of

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the partnership interests of such partnership (considering all of the
partnership interests of the partnership as a single class) is owned, directly
or indirectly, at the date of determination, by such Person, by one or more
Subsidiaries of such Person, or a combination thereof, or (c) any other Person
(other than a corporation or a partnership) in which such Person, one or more
Subsidiaries of such Person, or a combination thereof, directly or indirectly,
at the date of determination, has (i) at least a majority ownership interest or
(ii) the power to elect or direct the election of a majority of the directors or
other governing body of such Person.

                                   ARTICLE II

                                 INDEMNIFICATION

      2.1   ENVIRONMENTAL INDEMNIFICATION.

            (a)   Subject to the limitations contained in this Section 2.1(a),
POCC shall indemnify, defend and hold harmless each of the Partnership Entities
from and against environmental and toxic tort Losses suffered, incurred or paid
by any of the Partnership Entities by reason of or arising out of:

                  (i)   any violation or correction of violation of
Environmental Laws associated with the Assets or the Retained Assets, or

                  (ii)  any event or condition associated with the ownership or
operation of the Assets or the Retained Assets (including, without limitation,
the presence of Hazardous Substances on, under, about or migrating to or from
the Assets or the Retained Assets or the disposal or release of Hazardous
Substances generated by operation of the Assets or the Retained Assets at
non-Asset locations) including, without limitation, (A) the cost and expense of
any investigation, assessment, evaluation, monitoring, containment, cleanup,
repair, restoration, remediation, or other corrective action required or
necessary under Environmental Laws, (B) the cost or expense of the preparation
and implementation of any closure, remedial, corrective action, or other plans
required or necessary under Environmental Laws, and (C) the cost and expense for
any environmental or toxic tort pre-trial, trial, or appellate legal or
litigation support work,

but only to the extent that such violation complained of under Section 2.1(a)(i)
or such events or conditions included under Section 2.1(a)(ii) occurred before
the Closing Date (collectively, "Covered Environmental Losses").

            (b)   POCC shall indemnify, defend and hold harmless any of the
Partnership Entities from and against any Losses suffered or incurred by any of
the Partnership Entities to the extent that POCC is entitled to and receives
indemnification, is defended or held harmless against any such Losses from any
third-party pursuant to any agreement between any third-party and POCC
(collectively, "Pass-Through Environmental Losses"). In furtherance of such
agreement, POCC agrees to use its best commercially reasonable efforts to
pursue, for the benefit of the Partnership Entities, any such indemnification
with respect to which it might be entitled if

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requested by the Partnership; provided that, the Partnership shall reimburse
POCC for all costs and expenses incurred in connection with pursuing such
indemnity on behalf of the Partnership.

            (c)   The Partnership shall indemnify, defend and hold harmless POCC
from and against Losses suffered or incurred by any of the POCC Entities by
reason of or arising out of:

                  (i)   any violation or correction of violation of
Environmental Laws associated with the Assets, or

                  (ii)  any event or condition associated with ownership or
operation of the Assets (including, but not limited to, the presence of
Hazardous Substances on, under, about or migrating to or from the Assets or the
disposal or release of Hazardous Substances generated by operation of the Assets
at non-Asset locations) including, without limitation, (A) the cost and expense
of any investigation, assessment, evaluation, monitoring, containment, cleanup,
repair, restoration, remediation, or other corrective action required or
necessary under Environmental Laws, (B) the cost or expense of the preparation
and implementation of any closure, remedial, corrective action, or other plans
required or necessary under Environmental Laws, and (C) the cost and expense for
any environmental or toxic tort pre-trial, trial, or appellate legal or
litigation support work,

but only to the extent such violation complained of under Section 2.1(c)(i) or
such events or conditions included under Section 2.1(c)(ii) occurred after the
Closing Date.

      2.2   ADDITIONAL INDEMNIFICATION

            (a)   In addition to and not in limitation of the indemnification
provided under Sections 2.1(a) and 2.1(b), POCC shall indemnify, defend, and
hold harmless the Partnership Entities from and against any Losses suffered or
incurred by the Partnership Entities by reason of or arising out of

                  (i)   any events and conditions associated with the ownership
or operation of the Retained Assets, whether occurring before or after the
Closing Date,

                  (ii)  the failure of the Partnership Entities to be the owner
of such valid leasehold interests or fee ownership interests in and to the
Assets as are necessary to enable the Partnership Entities to continue to own
and operate the Assets and the Business in the same manner that the Assets and
the Business were owned and operated by the POCC Entities during the one-year
period immediately prior to the Closing Date to the extent that POCC is notified
of any of the foregoing within three years after the Closing Date,

                  (iii) the failure of the Partnership Entities to have any
consent or permit necessary to allow the Partnership Entities to own or operate
the Assets and the Business in the same manner that the Assets and the Business
were owned and operated by the POCC Entities

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during the one-year period immediately prior to the Closing Date to the extent
that POCC is notified of any of the foregoing within three years after the
Closing Date,

                  (iv)  all legal actions against POCC, including without
limitation, those set forth on Schedule 2.2 hereto, and

                  (v)   all federal, state and local income tax liabilities
attributable to the operation of the Assets prior to the Closing Date.

            (b)   In addition to and not in limitation of the indemnification
provided under Sections 2.1(c), or under the Partnership Agreement, the
Partnership shall indemnify, defend, and hold harmless the POCC Entities from
and against any Losses suffered or incurred by any of the POCC Entities by
reason of or arising out of events and conditions associated with:

                  (i)   the operation of the Assets and the Business,

                  (ii)  the performance of the Services by POCC and/or its
employees pursuant to this Agreement (provided that POCC is not in breach of
this Agreement), in each case occurring on or after the Closing Date (other than
Covered Environmental Losses which are provided for under Section 2.1), unless
in any such case such indemnification would not be permitted under Section 7.7
of the Partnership Agreement, and

            (c)   In addition to and not in limitation of the indemnification
provided under Sections 2.1(c) and 2.2(b), or under the Partnership Agreement,
the Partnership shall indemnify, for a period of three years from the fiscal
year end that includes the Closing Date, the POCC Entities for federal income
tax liabilities, including penalties and interest, resulting from the
Distribution and restructuring transactions connected with it to the extent such
federal income tax liabilities exceed $2.5 million in the aggregate.

      2.3   INDEMNIFICATION PROCEDURES.

            (a)   The Indemnified Party agrees that within a reasonable period
of time after it becomes aware of facts giving rise to a claim for
indemnification under this Article II, it will provide notice thereof in writing
to the Indemnifying Party, specifying the nature of and specific basis for such
claim.

            (b)   The Indemnifying Party shall have the right to control all
aspects of the defense of (and any counterclaims with respect to) any claims
brought against the Indemnified Party that are covered by the indemnification
under this Article II, including, without limitation, the selection of counsel,
determination of whether to appeal any decision of any court and the settling of
any such matter or any issues relating thereto; provided however, that no such
settlement shall be entered into without the consent of the Indemnified Party
unless it includes a full release of the Indemnified Party from such matter or
issues, as the case may be.

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            (c)   The Indemnified Party agrees to cooperate fully with the
Indemnifying Party, with respect to all aspects of the defense of any claims
covered by the indemnification under this Article II, including, without
limitation, the prompt furnishing to the Indemnifying Party of any
correspondence or other notice relating thereto that the Indemnified Party may
receive, permitting the name of the Indemnified Party to be utilized in
connection with such defense, the making available to the Indemnifying Party of
any files, records or other information of the Indemnified Party that the
Indemnifying Party considers relevant to such defense and the making available
to the Indemnifying Party of any employees of the Indemnified Party; provided
however, that in connection therewith the Indemnifying Party agrees to use
reasonable efforts to minimize the impact thereof on the operations of the
Indemnified Party. In no event shall the obligation of the Indemnified Party to
cooperate with the Indemnifying Party as set forth in the immediately preceding
sentence be construed as imposing upon the Indemnified Party an obligation to
hire and pay for counsel in connection with the defense of any claims covered by
the indemnification set forth in this Article II; provided however, that the
Indemnified Party may, at its own option, cost and expense, hire and pay for
counsel in connection with any such defense. The Indemnifying Party agrees to
keep any such counsel hired by the Indemnified Party reasonably informed as to
the status of any such defense, but the Indemnifying Party shall have the right
to retain sole control over such defense.

            (d)   In determining the amount of any Losses for which the
Indemnified Party is entitled to indemnification under this Agreement, the gross
amount of the indemnification will be reduced by (i) any insurance proceeds
realized or to be realized by the Indemnified Party, and such correlative
insurance benefit shall be net of any incremental insurance premium that becomes
due and payable by the Indemnified Party as a result of such claim and (ii) all
amounts recovered or recoverable by the Indemnified Party under contractual
indemnities from third parties.

                                  ARTICLE III

                     SERVICES AND RELATED PARTY TRANSACTIONS

      3.1   SERVICES. During the term of this Agreement, POCC agrees to provide
(either directly or through its Subsidiaries) on behalf of the General Partner
in accordance with Article VII of the Partnership Agreement, the employees or
independent contractors, corporate staff, support services and administrative
services necessary to operate the Business (the "Services"). POCC shall perform
the Services in a manner that is substantially identical in nature and quality
to the services performed by POCC for the Business during the one-year period
immediately prior to the Closing Date. The General Partner and the Partnership
agree that POCC shall be reimbursed for all costs and expenses incurred in
connection with the performance of the Services as if it were the General
Partner in accordance with Section 7.4(b) and 7.6(c) of the Partnership
Agreement.

      3.2   DESIGNATION OF AGENTS. In connection with the provision of the
Services by the employees of POCC, the General Partner, on behalf of the
Partnership, hereby appoints and empowers POCC and each current and future
employee of POCC who is fulfilling a job

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function for the Partnership in connection with the conduct by the Partnership
of its business in the ordinary course, as agent of the Partnership with full
power and authority to execute and deliver on behalf of the Partnership, any
documents, contracts, governmental filings or other instruments commensurate
with, but limited to, such job function. The power and authority granted
pursuant to this Section 3.2 to a person described in the preceding sentence
will be valid only for so long as such person is employed by POCC.

      3.3   RIGHT TO OPERATE. POCC shall have the right, but not the obligation,
to act as operator of the Partnership's facilities to the same extent it acted
as operator of such facilities prior to the effective date of this Agreement for
so long as POCC has responsibilities associated with such facilities.

      3.4   RELATED PARTY TRANSACTIONS. Each of POCC, the General Partner, the
Partnership and the Operating Partnership agree that the execution or material
amendment of any "significant agreement" (as such term is defined below) must be
approved by the Conflicts Committee. The term "significant agreement" means any
agreement between the General Partner, the Partnership or the Operating
Partnership, on the one hand, and any POCC Entity, on the other hand, that
requires aggregate annual payments to or from any POCC Entity or POCC Entities
in excess of $100,000.

      3.5   BREACH BY PENN OCTANE. In the event POCC fails to perform the
Services as provided in Section 3.1 and does not cure such failure within ten
(10) days of receiving written notice of same from the General Partner, the
Partnership, in addition to any other remedies at law or in equity, may
terminate this Agreement and engage a third party for the provision of the
Services. POCC shall cooperate in good faith with the Partnership and the
General Partner in transitioning the Services to any such third party.

                                   ARTICLE IV

                                  MISCELLANEOUS

      4.1   INSURANCE MATTERS. POCC hereby agrees to cause each of the
Partnership Entities to be named as additional insureds in POCC's current
insurance program, which is described on Schedule 4.1 attached hereto. Each of
the Partnership Entities shall pay for its allocated cost of that insurance
coverage in an amount equal to POCC's cost of insuring the assets and operations
of Partnership Entity and generally in accordance with the allocations and
methodology described in Schedule 4.1.

      4.2   CHOICE OF LAW; SUBMISSION TO JURISDICTION. This Agreement shall be
subject to and governed by the laws of the State of Texas, excluding any
conflicts-of-law rule or principle that might refer the construction or
interpretation of this Agreement to the laws of another state. Each Party hereby
submits to the jurisdiction of the state and federal courts in Harris County,
Texas.

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      4.3   NOTICE. All notices or requests or consents provided for by, or
permitted to be given pursuant to, this Agreement must be in writing and must be
given by depositing same in the United States mail, addressed to the Person to
be notified, postpaid, and registered or certified with return receipt requested
or by delivering such notice in person or by telecopier or telegram to such
Person. Notice given by personal delivery or mail shall be effective upon actual
receipt. Notice given by telegram or telecopier shall be effective upon actual
receipt if received during the recipient's normal business hours, or at the
beginning of the recipient's next business day after receipt if not received
during the recipient's normal business hours. All notices to be sent to a Party
pursuant to this Agreement shall be sent to or made at the address set forth
below such Party's signature to this Agreement, or at such other address as such
Party may stipulate to the other parties in the manner provided in this Section
4.3.

      4.4   ENTIRE AGREEMENT. This Agreement constitutes the entire agreement of
the Parties relating to the matters contained herein, superseding all prior
contracts or agreements, whether oral or written, relating to the matters
contained herein.

      4.5   TERMINATION. Unless earlier terminated as provided in this Section
4.5, the term of this Agreement shall be five (5) years from the date hereof and
shall be automatically renewed for subsequent five (5) year terms, unless and
until either party provides written notice to the other party at least sixty
(60) days prior to the expiration of the initial five (5) year term or any
renewal term that such party does not wish to renew this Agreement on the
expiration of the then current term. This Agreement, other than the provisions
of Article II, shall terminate on the earlier to occur of (i) ninety (90) days
after either party notifies the other party in writing that the Partnership is
no longer an Affiliate of POCC and (ii) this Agreement is terminated by the
Partnership under Section 3.5. Termination of this Agreement shall not terminate
any Indemnifying Party's continuing obligation of indemnification pursuant to
Article II of this Agreement which obligations shall survive as provided in
Article II.

      4.6   EFFECT OF WAIVER OR CONSENT. No waiver or consent, express or
implied, by any Party to or of any breach or default by any Person in the
performance by such Person of its obligations hereunder shall be deemed or
construed to be a consent or waiver to or of any other breach or default in the
performance by such Person of the same or any other obligations of such Person
hereunder. Failure on the part of a Party to complain of any act of any Person
or to declare any Person in default, irrespective of how long such failure
continues, shall not constitute a waiver by such Party of its rights hereunder
until the applicable statute of limitations period has run.

      4.7   AMENDMENT OR MODIFICATION. This Agreement may be amended or modified
from time to time only by the written agreement of all the Parties hereto;
provided however, that the Partnership may not, without the prior approval of
the Conflicts Committee, agree to any amendment or modification of this
Agreement. Each such instrument shall be reduced to writing and shall be
designated on its face an "Amendment" or an "Addendum" to this Agreement.

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      4.8   ASSIGNMENT. No Party shall have the right to assign its rights or
obligations under this Agreement without the consent of the other Parties
hereto.

      4.9   COUNTERPARTS. This Agreement may be executed in any number of
counterparts with the same effect as if all signatory parties had signed the
same document. All counterparts shall be construed together and shall constitute
one and the same instrument.

      4.10  SEVERABILITY. If any provision of this Agreement or the application
thereof to any Person or circumstance shall be held invalid or unenforceable to
any extent, the remainder of this Agreement and the application of such
provision to other Persons or circumstances shall not be affected thereby and
shall be enforced to the greatest extent permitted by law.

      4.11  FURTHER ASSURANCES. In connection with this Agreement and all
transactions contemplated by this Agreement, each signatory party hereto agrees
to execute and deliver such additional documents and instruments and to perform
such additional acts as may be necessary or appropriate to effectuate, carry out
and perform all of the terms, provisions and conditions of this Agreement and
all such transactions.

      4.12  LAWS AND REGULATIONS. Notwithstanding any provision of this
Agreement to the contrary, no Party to this Agreement shall be required to take
any act, or fail to take any act, under this Agreement if the effect thereof
would be to cause such Party to be in violation of any applicable law, statute,
rule or regulation.

      4.13  NEGOTIATION OF RIGHTS OF LIMITED PARTNERS, ASSIGNEES, AND THIRD
PARTIES. The provisions of this Agreement are enforceable solely by the Parties
to this Agreement, and no limited partner, member, assignee or other Person of
the Partnership or General Partner shall have the right, separate and apart from
the Partnership or the General Partner, to enforce any provision of this
Agreement or to compel any Party to this Agreement to comply with the terms of
this Agreement.

                  [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.]

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      IN WITNESS WHEREOF, the Parties hereto have executed this Omnibus
Agreement on, and effective as of, the date first written above.

                                       RIO VISTA ENERGY PARTNERS, L.P.

                                       By:  RIO VISTA GP LLC,
                                            On behalf of itself and on behalf of
                                            Partnership as its General Partner

                                            By: ________________________________
                                            Name:  Richard Shore, Jr.
                                            Title: President

                                       RIO VISTA OPERATING PARTNERSHIP L.P.

                                       By:  RIO VISTA OPERATING GP LLC

                                            By:  RIO VISTA ENERGY PARTNERS
                                                 L.P., its sole member

                                                 By:  RIO VISTA GP LLC

                                                      By:    ___________________
                                                      Name:  ___________________
                                                      Title: ___________________

                                       PENN OCTANE CORPORATION

                                       By: _____________________________________
                                       Name:  Jerome B. Richter
                                       Title: President

                                       12
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                                  SCHEDULE 2.2

              PENDING LEGAL ACTIONS AGAINST PENN OCTANE CORPORATION

                                       13
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                                   SCHEDULE 4

                                    INSURANCE

                                       14<PAGE>

                                                                    EXHIBIT 10.3

                                PURCHASE CONTRACT

                                     BETWEEN

                             PENN OCTANE CORPORATION

                                    "SELLER"

                                       AND

                      RIO VISTA OPERATING PARTNERSHIP L.P.

                                     "BUYER"

<PAGE>

<TABLE>
<S>                                                                                      <C>
ARTICLE I.       QUANTITY OF LPG......................................................   4

ARTICLE II.      TERM.................................................................   4

    Section 2.1       Term............................................................   4

    Section 2.2       Termination.....................................................   4

ARTICLE III.     PRICE................................................................   5

ARTICLE IV.      TAXES................................................................   5

ARTICLE V.       POINT OF DELIVERY, FACILITIES AND OWNERSHIP AND CONTROL OF LPG.......   5

    Section 5.1       Point of Delivery; Facilities...................................   5

    Section 5.2       Ownership and Control of LPG....................................   5

ARTICLE VI.      DELIVERY PRESSURE....................................................   6

ARTICLE VII.     NOTICES..............................................................   6

    Section 7.1       Notices.........................................................   6

    Section 7.2       Change of Address...............................................   6

ARTICLE VIII.    ASSIGNMENT...........................................................   6

ARTICLE IX.      GENERAL TERMS AND CONDITIONS.........................................   7
</TABLE>

                                    EXHIBITS

Exhibit A - General Terms and Conditions

<PAGE>

                                PURCHASE CONTRACT

      THIS PURCHASE CONTRACT (this "Contract") is made and entered into
effective as of the ___ day of ___________, 2004, by and between PENN OCTANE
CORPORATION, a Delaware corporation (hereinafter called "Seller"), and RIO VISTA
OPERATING PARTNERSHIP L.P., a Delaware limited partnership (hereinafter called
"Buyer"):

                              W I T N E S S E T H:

      WHEREAS, Seller desires to sell and deliver to Buyer and Buyer desires to
purchase and receive from Seller liquefied petroleum gas ("LPG"), in the
quantities and upon the terms and conditions hereinafter set forth;

      WHEREAS, the Conflicts Committee of Rio Vista GP LLC has approved of the
terms and conditions of this Contract;

      NOW, THEREFORE, in consideration of the premises, and of the mutual
covenants and agreements contained herein, and the general terms and provisions
hereof, Buyer and Seller agree as follows:

                                    ARTICLE I.
                                 QUANTITY OF LPG

      Seller agrees to sell and deliver to Buyer and Buyer agrees to purchase
and receive from Seller a monthly volume of LPG equal to the total amount of LPG
per month that Buyer sells or otherwise distributes using, in whole or in part,
any of the Transferred Assets to the extent Seller is able to supply quantities
of LPG sufficient for Buyer's needs. Notwithstanding anything herein to the
contrary, Buyer shall have no obligation to purchase LPG from Seller in the
event the distribution of such LPG by Buyer to its customers would not require
the use, in whole or in part, of any of the Transferred Assets. In addition, to
the extent Seller does not or cannot supply quantities of LPG sufficient for
Buyer's needs, Buyer may purchase LPG from other suppliers during the period
that Seller does not or cannot supply quantities of LPG sufficient for Buyer's
needs without any obligation to Seller hereunder.

                                   ARTICLE II.
                                      TERM

      Section 2.1 Term. This Contract shall be effective as of the ___ day of
___________, 2004, and, subject to the provisions of this Contract, shall
continue and remain in full force and effect for so long as the earlier to occur
of (i) Seller ceases to have the right to access the Seadrift Pipeline and (ii)
Buyer ceases to use, in whole or in part, any of the Transferred Assets for the
sale of LPG.

      Section 2.2 Termination. In the event Buyer takes no LPG under this
Contract for thirty (30) consecutive Days for any reason whatsoever other than
force majeure, Seller shall have the right, at its option, exercisable at any
time within fifteen (15) Days following such thirty (30) consecutive Day period,
to terminate this Contract by delivering to Buyer written notice of termination.
In the event Seller so elects to terminate this Contract, such termination shall
be

<PAGE>

effective as of 7:00 o'clock a.m. Central Time on the first Day of the Month
next following the date of delivery of such notice to Buyer, whereupon the
parties hereto shall be relieved of all liabilities and obligations hereunder
except for liabilities and obligations of the parties that shall have accrued as
of such date of termination. In the event Seller does not or cannot supply
quantities of LPG sufficient for Buyer's needs for thirty (30) consecutive Days
for any reason whatsoever other than force majeure, Buyer shall have the right,
at its option, exercisable at any time within fifteen (15) Days following such
thirty (30) consecutive Day period, to terminate this Contract by delivering to
Seller written notice of termination. In the event Buyer so elects to terminate
this Contract, such termination shall be effective as of 7:00 o'clock a.m.
Central Time on the first Day of the Month next following the date of delivery
of such notice to Seller, whereupon the parties hereto shall be relieved of all
liabilities and obligations hereunder except for liabilities and obligations of
the parties that shall have accrued as of such date of termination.

                                   ARTICLE III.
                                      PRICE

      Subject to the provisions of this Contract, the amount payable by Buyer to
Seller for each Gallon of LPG purchased hereunder each Month shall equal the
Purchase Price.

                                   ARTICLE IV.
                                      TAXES

      Seller shall pay or cause to be paid all taxes and assessments imposed on
Seller with respect to the LPG delivered hereunder prior to its delivery to
Buyer, and Buyer shall pay or cause to be paid all taxes and assessments imposed
upon Buyer with respect to LPG delivered hereunder after its receipt by Buyer.
Neither party shall be responsible or liable for any taxes or other statutory
charges levied or assessed against any of the facilities of the other party used
for the purpose of carrying out the provisions of this Contract.

                                    ARTICLE V.
         POINT OF DELIVERY, FACILITIES AND OWNERSHIP AND CONTROL OF LPG

      Section 5.1 Point of Delivery; Facilities. Seller shall deliver the LPG to
Buyer hereunder at the point at which the LPG exits the Seadrift Pipeline and is
delivered into Buyer's facilities at its Brownsville, Texas terminal or any
other point which employs the use of the Transferred Assets. Buyer shall be
responsible for arranging for Buyer or its designee, to receive delivery of LPG
sold hereunder to Buyer at the Delivery Point into Buyer's or its designee's
gathering system.

      Section 5.2 Ownership and Control of LPG. Title to the LPG sold and
delivered hereunder shall pass to Buyer at the Delivery Point. As between the
parties hereto, Seller shall be in control and possession of the LPG and
responsible for any damage or injury caused thereby until same shall have been
delivered to Buyer, after which delivery Buyer shall be deemed to be in
exclusive control and possession thereof and responsible for any injury or
damage caused thereby.

<PAGE>

                                   ARTICLE VI.
                                DELIVERY PRESSURE

      The LPG delivered or caused to be delivered hereunder by Seller to Buyer
or its designee(s) at the Delivery Point shall be delivered at a pressure
sufficient to enter the facilities at such point of Buyer or its designee(s).

                                   ARTICLE VII.
                                     NOTICES

      Section 7.1 Notices. Every notice, consent, approval, communication,
request or reply which is required or which may be given by either party to the
other under the terms of this Contract must be in writing, and may be effected
by actual delivery to the party to be notified, by depositing such notice in the
United States mail, postage prepaid, registered or certified mail, and addressed
to the party to be notified with return receipt requested, or by facsimile
transmission. Every notice deposited in the United States mail as hereinabove
authorized shall, in the absence of a strike, lock-out, boycott or other labor
dispute affecting the delivery of United States mail, be effective three (3)
days following the date on which it is so deposited. Notice given by facsimile
transmission shall be effective on completion and confirmation of the facsimile
transmission. Notice given in any other manner shall be effective only if and
when received by the party to be notified. For purposes of notice, the addresses
of the parties, until changed as hereinafter provided, shall be as follows:

         Seller:  Penn Octane Corporation
                  77-530 Enfield Lane, Building D
                  Palm Desert, CA 92211
                  Attn: Jerome B. Richter, President
                  Facsimile: (760) 772-8588

         Buyer:   Rio Vista Operating Partnership L.P.
                  820 Gessner Road, Suite 1285
                  Houston, Texas 77024
                  Attn:  General Partner
                  Facsimile: (713) _____________

      Section 7.2 Change of Address. Each of the parties shall have the right,
from time to time, to change its address, and each shall have the right to
specify as its address any other address within the United States of America by
delivering to the other party not less than ten (10) days' prior notice in
writing of such new address.

                                  ARTICLE VIII.
                                   ASSIGNMENT

      All the terms, conditions and provisions of this Contract shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns; provided, however, no assignment of this Contract by
either party shall be effective or binding until a copy of such assignment has
been furnished to the other party.

<PAGE>

                                   ARTICLE IX.
                          GENERAL TERMS AND CONDITIONS.

      Annexed hereto as a part hereof are General Terms and Conditions of this
Contract which General Terms and Conditions constitute a part of this Contract
and the terms and provisions hereof to the same extent as if written in full in
the body hereof.

                         (Signatures on following page)

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Contract in
multiple counterparts, each of which shall be deemed an original but all of
which constitute one and the same instrument as of the date first above
mentioned.

                                     "SELLER"

                                     PENN OCTANE CORPORATION

                                     By: _______________________________________
                                         Jerome B. Richter, President

                                     "BUYER"

                                     RIO VISTA OPERATING PARTNERSHIP L.P.

                                         By:  RIO VISTA OPERATING GP LLC,
                                              Its General Partner

                                              By: ______________________________
                                              Name: ____________________________
                                              Title: ___________________________

<PAGE>

                                    EXHIBIT A

                          GENERAL TERMS AND CONDITIONS

                                   ARTICLE I.

                                   DEFINITIONS

      1.1   For the purpose of this Contract, the following terms shall have the
meanings ascribed thereto unless their use in context is specifically to the
contrary:

      (a)   Day - That period of time consisting of twenty-four (24) consecutive
hours beginning at 7:00 a.m. Central Time.

      (b)   COGS - is the average cost to Seller per Gallon of LPG on a monthly
basis of all LPG supplies obtained by Seller, including the base cost per Gallon
of LPG, costs to mix the product, premiums/discounts paid to suppliers for LPGs,
mercaptain, testing and inspection costs.

      (c)   Contributed Assets - shall have the meaning set forth in that
certain Contribution, Conveyance and Assumption Agreement dated ______________,
2004 between Seller and Buyer.

      (d)   ECCPL - the twelve inch pipeline to which the Seller has access and
which connects ExxonMobil Corporation's Viola valve station in Nueces County,
Texas to the inlet of the King Ranch Gas Plant.

      (e)   Gallon - 231 cubic inches or 0.133681 cubic feet of liquid at sixty
(60) degrees Fahrenheit and at the equilibrium vapor pressure of the liquid.

      (f)   Margin Allocation Amount - is the product of (i) the quotient of (a)
the difference of Revenues minus COGS divided by (b) the Total LPG Gallons,
multiplied by (ii) the quotient of (c) Penn Costs divided by (d) Total Costs.

      (g)   Month - A chart accounting month commencing at 7:00 a.m. on the
first day of the chart accounting month and ending at 7:00 a.m. on the first day
of the following chart accounting month.

      (h)   OPIS - the Oil Price Information Service.

      (i)   Penn Costs - All costs of Seller on a per Gallon of LPG basis
associated with the ownership or lease and operation of assets related to
bringing LPG from suppliers to the Delivery Point. These costs principally
relate to all variable charges for use of the ECCPL (including minimum thruput
charges), the Seadrift Pipeline (including minimum fixed rental charges),

                                      -8-
<PAGE>

minimum Markham storage reservation fees, utilities, trucking costs, insurance
costs and depreciation. Penn Costs shall also include all indirect selling,
general and administrative costs (excluding amounts paid by Buyer). In
determining Penn Costs, only cost items paid in cash or to be paid in cash plus
depreciation and amortization excluding interest and income taxes, gains/losses
on disposal of assets shall be included.

      (j)   Point of Delivery and Delivery Point - the point of delivery as
described in Section 5.1 of the Contract.

      (k)   Purchase Price - is the sum of the Margin Allocation Amount and the
Product Price Allocation.

      (l)   Product Price Allocation - the average monthly per Gallon price of
LPG in accordance with Buyer specifications (generally 90% propane and 10%
butane) based on the price quoted for the month average of Mont Belvieu non-tet
propane per OPIS and the month average price for Mont Belvieu non-tet normal
butane per OPIS.

      (m)   Revenues - Total proceeds per Gallon of LPG to Buyer from the sale
of LPG supplied by Seller.

      (n)   Rio Vista Costs - All costs to Buyer on a per Gallon of LPG basis
associated with ownership or lease and operation of assets employed by Buyer to
bring LPG supplied by Seller from the Delivery Point to Buyer's customers. These
costs principally relate to the costs of operating the Brownsville terminal
facility, the US-Mexico pipelines and the Matamoros terminal facility and any
other asset brought on-line in the future which is put into operation for the
purpose of enhancing or providing sales of LPG to customers from LPG supplies
provided by Seller. Rio Vista Costs include payroll costs, rent, insurance,
utilities, repairs and maintenance and depreciation. Rio Vista Costs shall also
include all indirect selling, general and administrative costs (including costs
allocated from Seller, including costs incurred as a result of the creation of
Rio Vista Energy Partners L.P. as a publicly traded limited partnership). In
determining Rio Vista Costs, only costs items paid in cash or to be paid in cash
plus depreciation and amortization excluding interest and income taxes,
gains/losses on disposal of assets shall be included.

      (o)   Seadrift Pipeline - an approximately 132 mile pipeline which is
leased by Seller from the Seadrift Corporation and connects ExxonMobil
Corporation's King Ranch Gas Plant in Kleberg County, Texas and Duke Energy's La
Gloria Gas Plant in Jim Wells County, Texas to Buyer's Brownsville, Texas
terminal facility.

      (p)   Total Costs - The sum of the Penn Costs and the Rio Vista Costs
calculated on a monthly basis.

      (q)   Total LPG Gallons - is the total number of Gallons of LPG sold by
Buyer from supplies of LPG provided by Seller in any one month calculation
period.

                                      -9-
<PAGE>

                                   ARTICLE II.

                                     QUALITY

      Seller agrees that the LPG delivered hereunder shall be of merchantable
quality meeting the pressure and quality specifications of customers of Buyer.
Buyer shall not be obligated to purchase any LPG which fails to meet the
foregoing contract quality specifications. If LPG does not meet such
specifications and Buyer desires not to purchase LPG, Seller will be given a 15
day written notice of such intent. Except as hereinafter expressly provided,
Buyer shall be obligated to purchase all LPG tendered by Seller hereunder,
whether or not such LPG meets the quality specifications of any particular third
party purchaser or transporter, so long as such LPG meets the foregoing contract
quality specifications. Notwithstanding the foregoing, in the event (a) LPG
delivered by Seller to Buyer hereunder is unmarketable and, such LPG, when
blended together with LPG from any other sources available to Buyer that exceeds
the quality of Seller's LPG, for purposes of improving the overall quality of
Seller's LPG, is still unmarketable, and (b) Buyer reasonably demonstrates to
Seller's satisfaction that Buyer has made reasonable efforts to market the LPG
but has been unable to market the LPG due specifically to the quality of
Seller's LPG, then Buyer shall be relieved from its obligation to purchase and
take the portion of Seller's LPG which is unmarketable but only for the period
of time such LPG remains unmarketable. In the event that such LPG remains
unmarketable for a period of ninety (90) days, Seller's obligation to sell and
deliver to Buyer and Buyer's obligation to purchase and receive hereunder the
portion of Seller's LPG that is unmarketable shall cease and Seller shall be
entitled to dispose of such LPG to any third party or parties free and clear of
any claim by Buyer hereunder.

                                  ARTICLE III.

                                   MEASUREMENT

      3.1   The unit of volume for purposes of measurement of LPG delivered
hereunder shall be one (1) Gallon. All fundamental constants, observations,
records and procedures involved in the determining and/or verifying of the
quality and other characteristics of LPG delivered hereunder shall, unless
otherwise specified herein, be in accordance with the standards and methods
prescribed in Gas Measurement Committee Report No. 3, dated April, 1955, of the
American Gas Association as now and from time to time amended.

      3.2   The temperature of the LPG flowing through the meter or meters shall
be assumed to be sixty (60) degrees Fahrenheit, but may be determined by
continuous use of a recording thermometer installed by Seller (if deemed
necessary by Buyer and at Buyer's expense) so that it will properly record the
temperature of the LPG flowing through the meter or meters. The arithmetical
average of the temperatures recorded while LPG is passing through the meter or
meters in each chart period shall be used in computing measurements for that
chart period.

                                      -10-
<PAGE>

      3.3   The specific gravity of the LPG flowing through the meter or meters
shall be assumed to be .600; however, at Buyer's option and expense, the
specific gravity may be determined by use of a sampling device, connected so as
to collect a representative sample of the LPG delivered hereunder. The specific
gravity of the LPG sample will be determined by calculation from a fractional
analysis obtained with a chromatograph. The specific gravity will be calculated
from the fractional analysis using data in the most up-to-date table, "Physical
Constants of Paraffin Hydrocarbons," published by the Natural LPG Processors
Association. The specific gravity so determined will be used in calculating LPG
deliveries for the Month during which the sample is collected.

      3.4   The reading, calibrating and adjustment of such equipment and
instruments on which quantities of LPG delivered hereunder are determined and
the changing of charts shall be done by employees, agents or representatives of
Buyerr. Upon request of Seller, Buyer shall submit to Seller records and charts
from such equipment, subject to return by Seller within twenty (20) days after
receipt thereof. The charts and records shall be kept on file for a period of
three (3) years for the mutual use of the parties hereto.

      3.5   At least once each year Buyer, or its affiliates, shall test and
calibrate the meter and instruments or cause the same to be tested and
calibrated consistent with prior practices. Buyer shall give Seller notice of
the time of all tests sufficiently in advance of holding same so that Seller may
conveniently have Seller's representative present; however, if Seller's
representative is not present, Buyer or a third party acting for Buyer may
proceed with the test.

      3.6   If the metering equipment in the aggregate is found to be inaccurate
by two percent (2%) or more, registrations thereof and any payments based upon
such registrations shall be corrected at the rate of such inaccuracy for any
period which is definitely known or agreed upon, then for a period extending
back one-half (1/2) of the time elapsed since the last test not exceeding,
however, fifteen (15) days. Following any test, any metering equipment found to
be inaccurate to any degree shall be adjusted immediately to record accurately.

      3.7   If for any reason any meter, scale or other system of measurement is
out of service or out of repair so that the quantity of LPG received and/or sold
by Buyercannot be ascertained or computed from the reading thereof, the quantity
of LPG so received and/or sold during the period the system of measurement is
out of repair shall be estimated and agreed upon by the parties hereto upon the
basis of the best available data, using the first of the following methods which
is feasible:

            (a)   by using the registration of any check measuring equipment of
Buyer if installed and accurately registering;

            (b)   by correcting the error if the percentage or amount of error
is ascertainable by calibration, test or mathematical calculation;

            (c)   by estimating the quantity of purchases during preceding
periods under similar conditions when the meter was registering accurately.

                                      -11-
<PAGE>

      3.8   For the purpose of measurement and meter calibration, the
atmospheric pressure shall be assumed to be constant at fourteen and
seven-tenths (14.7) psia.

      3.9   The measurement hereunder shall be corrected for deviation from
Boyle's law at the pressure and temperature under which LPG is delivered
hereunder.

      3.10  It is agreed that the value of the EXPANSION FACTOR, REYNOLDS NUMBER
FACTOR, SUPERCOMPRESSABILITY FACTOR and MANOMETER FACTOR (where Mercury type
orifice meters are used) shall be actual values.

                                   ARTICLE IV.

                               BILLING AND PAYMENT

      Buyer shall render to Seller on or before the tenth day of each month a
statement of the quantity of LPG (in terms of Gallons) purchased by Buyer from
Seller during the preceding Month or for which payment is due, and the amount
payable. Buyer shall make payment to Seller for LPG received and/or sold during
the preceding Month upon Seller's receipt of the proceeds from the sales of such
LPG. Such payments shall be made by wire transfer of immediately available funds
to the bank account of Seller specified by Seller to Buyer from time to time
pursuant to Article VII of the Contract. Accounting shall be by Buyer, and
billings for payment shall be accompanied by a statement showing such
calculations and adjustments, if any, as were used to arrive at the amount set
out.

                                   ARTICLE V.

                                WARRANTY OF TITLE

      Seller warrants title to all LPG delivered hereunder by Seller, that
Seller has the right to sell the same and that such LPG is free from liens and
adverse claims of every kind. Seller will pay all royalties, taxes and other
sums due on production of the LPG delivered hereunder. Seller further warrants
that the LPG delivered hereunder is free and clear of any prior contract or
dedication to any third party that limits or restricts the right of Seller to
sell LPG to Buyer hereunder, or that gives such third party a claim to either
the proceeds paid or a claim that a like quantity of LPG be tendered to such
third party at a later date. Seller will indemnify and save Buyer harmless
against all loss, damage and expense of every character on account of adverse
claims to the LPG delivered by Seller or of royalties, taxes, payments or other
charges thereon applicable before or upon delivery to Buyer. If Seller's title
is questioned or involved in any legal action, Buyer may withhold payment of
sums due hereunder up to the amount of the claim until title is freed from such
question or such action is finally determined, or until Seller furnishes either
bond with surety or an escrow arrangement satisfactory to Buyer and conditioned
to save Buyer harmless.

                                      -12-
<PAGE>

                                   ARTICLE VI.

                                REGULATORY BODIES

      This Contract shall be subject to all valid and applicable laws, rules and
regulations of any duly constituted governmental body having jurisdiction
herein. Buyer does not require any governmental authority or approval to enter
into this Contract or to accept the delivery of LPG from Seller hereunder. If at
any time there is a new law, rule or regulation, or changed interpretation of
any existing law, rule or regulation that requires Buyer to obtain any
governmental approval or authorization, Buyer will notify Seller of the
requirement and will furnish Seller with any application filed, the evidence to
support the application and of the order or authorization entered.

                                  ARTICLE VII.

                                  FORCE MAJEURE

      In the event either party hereto is rendered unable, wholly or in part, by
force majeure, to carry out its obligations under this Contract, other than to
make payments due hereunder, then on such party's giving notice and reasonable
full particulars of such force majeure in writing or by telecopy to the other
party as soon as possible after the occurrence of the cause relied upon, the
obligations of the party giving notice, so far as they are affected by such
force majeure, shall be suspended during, but only during, the continuance of
any inability so caused. The term "force majeure," as used herein, shall mean
acts of God, strikes, lockouts, acts of the public enemy, wars, blockades,
insurrections, riots, epidemics, landslides, lightning, earthquakes, hurricanes
or the threat thereof, fires, storms, floods, washouts, arrest and restraints of
rulers of people, civil disturbances, the freezing of wells or lines of pipe,
requisitions, directives, diversions, embargoes, priorities, expropriations of
government or governmental authorities, legal or de facto, whether purporting to
act under some constitution, decree, law or otherwise, failure of pipelines,
facilities or lines of pipe provided such failure of pipelines, facilities or
lines of pipe is not reasonably within the control of the party claiming
suspension, the partial or entire failure of LPG wells, and the inability to
acquire, or the delays in acquiring at reasonable cost and after the exercise of
reasonable diligence, such servitudes, right of way grants, permits, licenses,
approvals and authorizations by regulatory bodies, and/or such supplies and
materials (or permission from regulatory bodies to use supplies and materials on
hand), as may be necessary in order that obligations assumed hereunder may be
lawfully performed in the manner herein contemplated. Upon the occurrence of an
event constituting force majeure, the same shall, so far as possible, be
remedied with all reasonable dispatch. The settlement of strikes or other labor
difficulties shall be entirely within the discretion of the party having the
difficulty, and the above requirement that any force majeure shall be remedied
with all reasonable dispatch shall not require the settlement of strikes or
other labor difficulties by acceding to the demands of any opposing party
therein when such course is inadvisable in the discretion of the party having
the difficulty.

                                      -13-
<PAGE>

                                  ARTICLE VIII.

                                    INDEMNITY

      Buyer shall indemnify, defend and hold Seller harmless from and against
all loss, cost and expense, including court costs and attorney's fees, for any
claims, suits, judgments, demands, actions or liability growing out of the
operations conducted hereunder by Buyer or arising while the LPG is in Buyer's
exclusive control and possession. Likewise, Seller shall indemnify, defend and
hold Buyer harmless from and against any loss, cost and expense, including court
costs and attorney's fees, for any claims, suits, judgments, demands, actions or
liability growing out of Seller's operations of its wells, leases, equipment,
pipelines and other facilities and appurtenances thereto or arising while the
LPG is in Seller's exclusive control and possession.

                                   ARTICLE IX.

                                  MISCELLANEOUS

      9.1   Entirety - This Contract contains the entire agreement between the
parties and there are no oral promises, agreements or warranties affecting it.

      9.2   Titles - The numbering and titling of particular provisions of this
Contract are for the purpose of facilitating administration and shall not be
construed as having any substantive effect on the terms of this Contract.

      9.3   Waiver - Waiver of any breach or failure to enforce any of the terms
and conditions of this Contract at any time shall not in any way affect, limit
or waive either party's right thereafter to enforce and compel compliance with
every term and condition hereof.

      9.4   Time of Essence - Time is of the essence in this Contract in all
respects.

      9.5   Preparer - This Contract was prepared jointly by the parties hereto
and not by either party to the exclusion of the other.

      9.6   Severability - In the event that any clause or provision in this
Contract shall, for any reason, be deemed illegal, invalid or unenforceable, the
remaining provisions and clauses shall not be affected, impaired or invalidated
and shall remain in full force and effect. In lieu of such illegal, invalid or
unenforceable provision, there shall be added automatically as a part of this
Contract a provision as similar in terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid and enforceable.

      9.7   Governing Law - As to all matters of construction and
interpretation, this Contract shall be interpreted, construed and governed by
the laws of the State of Texas, excluding conflicts of law principles that might
require the application of the laws of another jurisdiction.

                                      -14-
<PAGE>

      9.8   Damages - Neither party shall be liable to the other for any
indirect, incidental, consequential or punitive damages which may occur, in
whole or in part, as a result of a party's performance or non-performance of any
of the terms and conditions of this Contract.

                       End of General Terms and Conditions

                                      -15-

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