Document:

Exhibit
10.25

LETTER OF
INTENT

Date:                                                                    June
17, 2005

Parties:                                                       Fagen, Inc., a Minnesota Corporation, of Granite Falls, MN (“Fagen”)
and Indiana Renewable Fuels, LLC, an
Indiana limited liability company of Kewanna, Indiana (“Owner”)

WHEREAS,
Owner is an entity organized to facilitate the development and building of a
locally-owned fuel ethanol plant near Rochester, Indiana (the “Facility” or “Project”);
and

WHEREAS,
Fagen is an engineering and construction firm capable of providing development
assistance, as well as designing and constructing the Facility being considered
by Owner.

NOW,
THEREFORE, in consideration of the promises and mutual
covenants set forth herein, Owner and Fagen agree to use best efforts in
jointly developing this Project under the following terms:

1.  Fagen agrees to provide Owner with
preliminary Design-Build services as described in this Letter of Intent as
necessary to establish a contract price for designing and constructing the
Facility and to define the Facility in adequate detail to determine if the
Project is feasible and to obtain financing.

Owner agrees that Fagen
will Design-Build the Facility if determined by Owner to be feasible and if
adequate financing is obtained.  Should
Owner choose to develop or pursue a relationship with a company other than
Fagen to provide the preliminary engineering or design-build services for the
project, then Owner shall reimburse Fagen for all expenses Fagen has incurred
in connection with the Project based upon Fagen’s standard rate schedule plus
all third party costs incurred from the date of this Letter of Intent.  Such expenses include, but are not limited
to, labor rates and reimbursable expenses such as legal charges for document
review and preparation, travel expenses, reproduction costs, long distance
phone costs, and postage.  In the event
Fagen’s services are terminated by Owner, title to the technical data, which
may include preliminary engineering drawings and layouts and proprietary
process related information, shall remain with Fagen; however, Owner shall,
upon payment of the foregoing expenses, have the limited license to use the
above described technical data, excluding proprietary process related
information, for completing documentation required for construction, operation,
repair and maintenance of the Project, at Owner’s sole risk.

Owner acknowledges that
the technical data provided by Fagen under this Letter of Intent shall be
preliminary and may not be suitable for construction and agrees that any use of
such technical data without Fagen’s involvement shall be at Owner’s sole risk.

If Fagen intentionally or
by gross negligence fails or refuses to comply with its commitments contained
in this Letter of Intent, Fagen shall absorb all of its own expenses, and Owner
shall have the right to terminate the Letter of Intent immediately

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upon written notice to Fagen, and Owner shall be
released from its obligations to pay or reimburse Fagen as described above.

2.             Fagen will provide Owner with assistance in evaluating,
from both a technical and business perspective:

·                  Owner
organizational options;

·                  The
appropriate location of the proposed Facility; and

·                  Business plan
development.

Fagen assumes no risk or liability of representation
or advice to Owner by assisting in evaluating the above.  All decisions made regarding feasibility,
financing, and business risks are the Owner’s sole responsibility and
liability.

3.             Fagen agrees to Design-Build the Facility, utilizing
ICM, Inc. technology in the plant process, for a lump sum price.  Such price shall be determined upon final
scope definition.  Once determined, this
lump sum price shall remain firm by Fagen to Owner until December 31,
2005, and may be subject to revision and/or escalation by Fagen after such
date.

4.             Fagen will assist Owner in locating appropriate
management for the Facility.

5.             Fagen will assist Owner in presenting information to
potential investors, potential lenders, and various entities or agencies that
may provide project development assistance, so long as the Project has 5% or
less dilution.  In addition, pro forma
projections shall be greater than 20% ROI by year five.

6.             During the term of this Letter of Intent the Owner
agrees that Fagen will be the exclusive Developer and Design-Builder for the
Owner in connection with matters covered by this Letter of Intent, and Owner
shall not disclose any information related to this Letter of Intent to a
competitor or prospective competitor of Fagen.

7.             This Letter of Intent shall terminate on
December 31, 2007 unless the basic size and design of the Facility have
been determined and mutually agreed upon, and a specific site or sites have
been determined and mutually agreed upon, and at least 10% of the necessary
equity has been raised.  Furthermore,
this Letter of Intent shall terminate on December 31, 2008 unless
financing for the Facility has been secured. 
Either of the aforementioned dates may be extended upon mutual written
agreement of the Parties.

8.             Fagen and Owner agree to negotiate in good faith and
enter into a definitive lump sum design-build agreement, including Exhibits
thereto, acceptable to the Parties.

9.             The Parties will jointly agree on the timing and content
of any public disclosure, including, but not limited to, press releases,
relating to Fagen’s involvement in Owner’s Project, and no such disclosure
shall be made without mutual consent and approval, except as may be required by
applicable law.

 2
 

 

10.           The Parties agree that this Letter of
Intent may be modified only by written agreement by the Parties.

11.           This Letter of Intent may be executed
in one or more counterparts, each of which when so executed and delivered shall
be deemed an original, but all of which taken together constitute one and the
same instrument.  Signatures which have
been affixed and transmitted by facsimile shall be binding to the same extent
as an original signature, although the Parties contemplate that a fully
executed counterpart with original signatures will be delivered to each Party.

 

	
  Indiana Renewable Fuels, LLC

  	
   

  	
  Fagen, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Glen Bode

  	
   

  	
   

  	
  By:

  	
  /s/ illegible

  
	
   

  	
   

  	
   

  
	
  Its:

  	
  President

  	
   

  	
   

  	
  Its:

  	
  Sr. V.P.

  
	
   

  	
   

  	
   

  
	
  Date:

  	
  August 26, 2005

  	
   

  	
   

  	
  Date:

  	
  8/29/05

  
								

 

 3<U><FONT FACE="Arial" SIZE=2><P>Exhibit 10.1</P>
</U>
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</HTML><U><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Exhibit 10.2</P>
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</HTML>Unassociated Document

    Exhibit
      10.1

     

    

       

      PROMISSORY
        NOTE

      Los
        Angeles, CA

      September
        7, 2006

      

      FOR
        VALUE
        RECEIVED, INNOFONE.COM, INCORPORATED, a Nevada corporation (the “Company” or
“Innofone”), hereby promises to pay to the order of Lawrence Hughes (the
“Holder”), the principal sum of Two
        Million Dollars ($2,000,000)
        (the
“Principal”) and interest accrued on that Principal per the terms set out below
        (collectively, the “Repayment Amount”). All amounts owing under this Note shall
        be paid in lawful money of the United States of America in immediately available
        funds.

       

      Maturity
        Date. The
        Maturity Date shall be the earlier of: (a) sixty (60) days from the Closing
        Date
        (as defined hereunder); or (b) December 1, 2006, whichever is earlier or
        as
        otherwise mutually agreed by the parties in writing. 

       

      Closing
        Date.
        The
        Closing Date shall be the date on which the definitive documents are signed
        by
        the Company and the Holder and upon which the Principal amount is received
        by
        Company. 

      

      Repayment.
        

      

      (a)
        Repayment of the Principal by Innofone to the Holder shall be made in full
        no
        later than the Maturity Date and may be made in one balloon payment on or
        before
        the Maturity Date, or monthly prior to the Maturity Date, at election of
        the
        Company. 

       

      (b)
        Innofone may, in its sole discretion, prepay any and all of the Repayment
        Amount
        owed at any time subsequent to payment of the Interest, in full or in part,
        without penalty. 

      

      Interest.
        Innofone
        shall pay to Holder interest at the rate of the London Interbank Offered
        Rate
        (LIBOR) plus one percent (1%) per annum simple interest on the full amount
        of
        the Principal calculated on the Closing Date and payable in full on the Closing
        Date along with the return of the Principal. 

       

      Fees. Each
        party shall be responsible for its fees and expenses incurred in connection
        with
        the documentation and closing of this transaction. 

       

      Attorneys
        Fees and Court Costs.
        If this
        Note shall be collected by legal proceedings or through any court or shall
        be
        referred to an attorney because of any default, Innofone agrees to pay all
        attorney’s fees, disbursements and court costs incurred by the
        Holder.

      

      Security
        Interest.
        Junior
        in rank to that of Cogent Capital Financial, LLC’s and Cogent Capital Group,
        LLC’s and its affiliates security interest and securitization under the Swap
        and
        subject to any financing statement or security pledged in the Swap, the Note
        shall be secured by the assets of Innofone and its subsidiaries. Other lenders
        to the Company may be on parity with Holders under other
        obligations.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Event
        of Default.
        If any
        of the following events, acts or circumstances shall occur for any reason
        whatsoever (and whether such occurrence shall be voluntary or involuntary
        or
        come about or be affected by operation of law or otherwise) it shall be
        considered an Event of Default:

      

      (a) Any
        failure of Innofone to make payment required under this Note; or

      

      (b) Any
        failure of Innofone to pay the Principal in full by December 1,
        2006.

      

      Rights
        of Holder upon Default.
        Upon the
        occurrence and during the continuation of any Event of Default, immediately
        and
        without notice, all outstanding principal, interest, and fees payable by
        Innofone hereunder shall automatically become immediately due and payable,
        without presentment, demand, protest or any other notice of any kind, all
        of
        which are hereby expressly waived, anything contained herein to the contrary
        notwithstanding. 

       

      Governing
        Law.
        This
        Note is being delivered in, is intended to be performed in, shall be construed
        and interpreted in accordance with, and be governed by the internal laws
        of the
        State of Nevada without regard to principles of conflict of laws. 

       

      No
        Presentment, Demand or Notice Required.
        Innofone waives presentment for payment, demand, notice of demand and of
        dishonor and nonpayment of this Note, protest and notice of protest, diligence
        in collecting, and the bringing of suit against any other party, and agrees
        to
        all renewals, extensions, modifications, partial payments, releases or
        substitutions of security, in whole or in part, with or without notice, before
        or after the date payment is demanded hereunder. Additionally, the undersigned's
        obligations hereunder shall be absolute and unconditional, and shall not
        be
        subject to any counterclaim, setoff, deduction or defense the undersigned
        may
        have.

       

      Headings
        Descriptive.
        The
        headings of the several paragraphs and subparagraphs of this Note are inserted
        for convenience only and shall not in any way affect the meaning or construction
        of any provision of this Note.

       

      IN
        WITNESS WHEREOF, Innofone has executed this Note as of the date first set
        forth
        above.

       

       

      
        	 	 	Innofone.com,
                Incorporated 
	 	 	 
	 	 	By: /s/
                Alex Lightman 
	 	 	
                Alex
                  Lightman, Chief Executive Officer and President

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