Document:

Unassociated Document

    

    PURCHASE
      AND SALE PRIVATE INSTRUMENT AND OTHER ADJUSTMENT

     

    By
      the
      present private instrument, the parties, on one side

     

    ·
FJJ
      EMPREENDIMENTOS E PARTICIPAÇÕES LTDA,
      limited
      enterprise society, with headquarter in the city of Ourinhos, State of São
      Paulo, at Rua Ari Barroso,451, Jardim Matilde, Ourinhos/SP, CEP 19.900-300,
      enrolled in CNPJ under the nr 08.624.635/0001-53, in this act represented in
      the
      form of its social contract by Mrs. Silene Soares Bernardo, Brazilian, single,
      natural of Ourinhos-SP, single, been born on July 25, 1968, business
      administrator, bearer of the identity card RG 17.651.515 SSP/SP and CPF/MF
      078.920.228-05, resident and domiciled at Rua Ari Barroso, 451, Jardim Matilde,
      Ourinhos/SP, CEP 19.900-300 ("FJJ") 

     

    ·
NETOIL
      INTERMEDIAÇÃO DE NEGÓCIOS LTDA.,
      limited
      society, with social headquarter at Rua Benjamin Constant, n° 33, 7° andar, sala
      71, municipal district of Assis, State of São Paulo, CEP 19806-130, enrolled in
      CNPJ under nr. 02.412.386/0001-74, in this act represented in the form of its
      social contract by Mr. Delmo Sérgio Vilhena, Brazilian, divorced, business
      administrator, bearer of the identity card RG n° 6.478.373-X SSP/SP, enrolled in
      CPF/MF under nr 598.380.948-20, resident and domiciled at Av. Angélica, n°
1.509, apt.° 2, Higienópolis, in the Capital of the State of São Paulo and
      ALEXANDRE TADEU NUNES Kume, Brazilian, judicially separated, economist, bearer
      of the identity card RG nr. 10.356.668-5-SSP/SP, enrolled in CPF/MF under the
      nr. 041.602.478-57, resident and domiciled at the Street Dr. Armando Franco
      Soares Caiuby, no. 301, apt. 5, Morumbi, in the city of São Paulo - SP, CEP
      05641-000 ("Netoil"); and 

     

    ·
OURO
      VERDE PARTICIPAÇÕES S/A,
      private
      company, with headquarter Rodovia Vicinal - Gabriel Ligeiro, km. 04, sala 02,
      Água do Barreirinho, municipal district of Canitar, State of São Paulo, enrolled
      in CNPJ/MF under the nr. 74.520.776/0001-79, in this act represented in the
      form
      of their social statutes by Mr. Francisco Celso, Brazilian, married, civil
      and
      industrial engineer, bearer of the identity card RG nr. 6.495.201 SSP/SP,
      enrolled in CPF / MF under the nr. 792.462.068-00, resident and domiciled in
      Fazenda Santo Antonio da Ponte Preta, s/no, Bairro Rural, Água do Barreirinho,
      in the municipal district of Canitar, São Paulo state, CEP 18990-000, and
      Alexandre Tadeu Nunes Kume, Brazilian, judicially separated, economist, bearer
      of the identity card RG nr. 10.356.668-5-SSP/SP, enrolled in CPF/MF under the
      nr. 041.602.478-57, resident and domiciled Rua Dr. Armando Franco Soares Caiuby,
      no 301, apto 5, Bairro do Morumbi, in the city of São Paulo - SP, CEP 05641-000
      (“Ouro Verde, OURO VERDE ou OV”)

     

    (FJJ,
      NETOIL and Ouro Verde from now on designated SHARE HOLDERS or SALERS together
      and, separately, SHARE HOLDER or SALER) 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    and,
      on
      another side, 

     

    ·
      COMANCHE OF BRASIL PARTICIPAÇÕES LTDA,
      society limited enterprise, with headquarter in the capital of the State of
      São
      Paulo, at Alameda Campinas, 463, 7o andar, enrolled in C.N.P.J. under the Nr.
      07.751.535/0001-43, in this act represented by its Director, Mr. Ivo Tolesano
      Júnior, Brazilian, married, business administrator, bearer of the identity card
      RG nr. 5.255.932 SSP/SP, enrolled in CPF/MF under nr 579.584.918-91, with
      commercial address in the capital of the State of São Paulo, at Rua Funchal, no
375, 8o andar, cj. 81, from now simply designated "COMANCHE" or "BUYER";

     

    (SALERS
      AND BUYER designated together as Parties and individually as Party)

     

    PRELIMINARY
      CONSIDERATIONS

     

    CONSIDERING
      THAT: 

     

    I.
      Ouro
      Verde, FJJ and NetOil constituted the company Sidma Biocombustíveis de Canitar
      Ltda ("Sidma"), society limited enterprise, with headquarter at Rodovia Vicinal
      - Gabriel Ligeiro, km. 04, Água do Barreirinho, municipal district of Canitar,
      State of São Paulo, in the capital of the State of São Paulo, enrolled in
      C.N.P.J. under the Nr. 08.386.602/0001-30, to which Ouro Verde gave certain
      active rights, rights resulting from the licenses, authorizations and operation
      permissions and other licenses, definitive or temporary, equipment for grinding,
      transport, alcohol and flowed distillation production, besides, among other,
      the
      ones described and characterized in the ANNEX A to the present, that, together
      with the Ouro Verde brand and mercantile leasing contracts of some assets,
      represented the totality of the movable and fixed assets of Ouro Verde
      previously to Sidma constitution ("Assets"), as well as gave up the Obligations
      with COMANCHE below defined. 

     

    II. Share
      holders are titular and legitimate proprietors of the totality of the
      representative shares of 100% (one hundred percent) of the social capital of
      Sidma ("Shares"), these shares free from any burden, obligations, duties,
      responsibilities or disputes before third parties. 

     

    III. Until
      the
      present date 6 (six) contracts were signed with the following characteristics:
      (i) the Purchase and Sale of Moisturized Ethyl Alcohol and Other Adjustment
      Contract ("Contract A"), between BUYER and OURO VERDE, in the value of R$
      554.046,00 (five hundred, fifty four thousand and forty six real), on June
      24,
      2006; (ii) Purchase and Sale Contract of Moisturized Ethyl Alcohol and Other
      Adjustment ("Contract B"), among the BUYER and OURO VERDE, in the value of
      R$
      545.985,45 (five hundred and forty five thousand, nine hundred and eighty five
      real and forty five cents), on June 24, 2006; (iii) the of Purchase and Sale
      of
      Moisturized Ethyl alcohol and Other Adjustment Contract ("Contract C"), between
      BUYER and OURO VERDE, in the value of R$ 482.800,00 (four hundred eighty two
      thousand and eight hundred real), on June 24, 2006; (iv) the Purchase and Sale
      Contract of Moisturized Ethyl alcohol and Other Adjustment, among Octet Dates
      Centers Participações Ltd., with headquarter in Av. Eng. Luis Carlos Berrini,
      1.253, 5th floor, enrolled in CNPF/MF under the no. 04.269.523/0001-99 ("Octet")
      and OURO VERDE, in the value of R$550.000,00 (five hundred and fifty thousand
      real), on August 18, 2006 ("Contract D") (v) Purchase and Sale of Moisturized
      Ethyl Alcohol and Other Adjustment, between Octet and OURO VERDE Contract,
      in
      the value of R$130.000,00 (One hundred and thirty thousand real), in 15 of
      September 2006 ("Contract E"), (vi) Loan Contract, celebrated among the BUYER
      and OURO VERDE, in this date, in the total value of R$2.146.213,90 (two million,
      one hundred and forty six thousand, two hundred and thirteen real and ninety
      cents), regarding to payments already accomplished by the BUYER, in cash, to
      Ouro Verde ("Contract F"). The Contracts A, B, C, D, E and F are equivalent
      to
      the value main total of R$4.409.045,35 (four million, four hundred nine thousand
      and forty five real and thirty five cents) ("Obligations with COMANCHE"), which
      follow as ANNEX B to the present Contract; 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IV. Observed
      the established conditions in the present instrument, the BUYER wants to acquire
      from the Share holders all the Shares, and Share holders want to sell the Shares
      to the Buyer; 

     

    THE
      PARTIES decide to celebrate the present Private Instrument of Purchase and
      Sale
      and Other Adjustment ("Contract") which will regulate the Shares acquisition
      in
      front of the SALERS, in the below terms and conditions: 

     

    SECTION
      ONE

    INTEGRAL
      AGREEMENT

     

    1.1.
      The
      Parties agree by this Contract that the terms and conditions here foreseen
      replace all and any previous agreement or contract, preliminary or definitive,
      by the Parties or by or parties the these related. 

     

    SECTION
      TWO

    CLOSING

     

    2.1.
      In
      the date that all the Closing Conditions are accomplished, as defined in Section
      Four below, (the “Closing Date"), in accordance with the terms and conditions of
      the present Contract, by the payment of the price stipulated in Clause 3.3
      below, the BUYER will acquire from the SALERS the Shares. 

     

    2.2
      In
      the Closing Date, SALERS and BUYER should accomplish the Shares transfer, by
      the
      practice of all the necessary actions for the effective Shares purchase and
      sale
      presently mentioned, as, for instance, without limitation, the celebration
      of
      the instrument alteration of the Sidma Social Contract. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SECTION
      THREE

    PURCHASE
      PRICE AND PAYMENT OF THE PURCHASE PRICE

     

    3.1.
      In
      the Closing Date, and since the Closing Conditions foreseen in Section Four
      below have been integrally satisfied, at a reasonable criterion by the BUYER,
      the BUYER, or that by it designated, will pay to the SALERS, as price for the
      Shares, R$ 3.400.000,00 (three million and four hundred thousand real), added
      to
      the remaining Ouro Verde debts, as defined in ANNEX 3.1., besides until a limit
      of R$500.000,00 (five hundred thousand real) remainder of passive relative
      to
      the Ouro Verde operation of the (the " Remaining Debts of OV") (jointly, the
      "Acquisition Price"), as eventually adjusted in the terms of below clauses
      3.3
      and 3.4, to be paid in the following conditions: 

     

    (i)
      The
      value of R$ 3.400.000,00 (three million and four hundred thousand real), to
      OURO
      VERDE, being: 

     

    a.
      R$1.700.000,00 (One million and seven hundred thousand real), in national
      currency, being R$850.000,00 (eight hundred and fifty thousand real), spot
      cash,
      in the Closing Date and against the final documents signature and delivery
      formalizing the Shares transfer and the remaining balance in 3 (three) portions,
      on which will happen indexation and interests with base in the Savings
“Poupança” variation, being the interests monthly owed, and the portions will
      have the following characteristics: the first will be of R$150.000,00 (hundred
      and fifty thousand real), owed in 6 months to count from August 31, 2006, the
      second, in the value of R$350.000,00 (three hundred and fifty thousand real),
      owed on August 31, 2007, and the third, in the value of R$350.000,00 (three
      hundred and fifty thousand real), to be paid on February 28, 2008; 

     

    b.
      R$1.700.000,00 (a million and seven hundred thousand real) in so many ordinary
      actions or shares of COMANCHE Clean Energy Corporation, as they are necessary
      for such value to be reached. 

     

    (ii)
      The
      Ouro Verde Remaining Debts, estimated in R$4.884.264,31 (four million, eight
      hundred and eighty four thousand, two hundred and sixty four real and thirty
      one
      cents) on April 30, 2006, to be adjusted in reason of interests incurred in
      the
      period between April 30, 2006 and the Closing Date, as detailed in ANNEX 3.1
      (ii), besides until a limit of R$500.000,00 (five hundred thousand real)
      remainders of passive relative to the Ouro Verde operation. 

     

    3.2.
      Sidma will assume the debts represented by the Obligations with COMANCHE,
      constituted by the Contracts A, B, C, D, E and F, in total main value of
      R$4.409.045,35 (four million, four hundred nine thousand and forty five real
      and
      thirty five cents). 

     

    3.3.
      The
      value of the portions of the stipulated price in items (i) and (ii) of clause
      3.1 supra will suffer a proportional adjustment in the hypothesis of, in the
      Closing Date, the debts and contingencies of Ouro Verde are superior to the
      Remaining Debts of Ouro Verde, as detailed in ANNEX 3.1 (ii), or the debts
      and
      contingencies of Sidma are larger than the Debts with COMANCHE, which the BUYER
      declares to know.. If in the Closing Date any debt is found, contingency or
      passive that commits Ouro Verde, Sidma, the Shares or the Assets, the BUYER,
      at
      its exclusive criterion, can accept to assume such debt, contingency, inadequacy
      asset or passive supervenience, since the Acquisition Price, in the part
      regarding the payment portions referred in the clauses 3.1 (i) and (ii),
      depending on the case, is reduced by the equivalent amount. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.4.
      The
      SALERS, amongst themselves, recognize that the portions indicated in Clause
      3.1
      (i) and (ii) should be allocated among the SALERS, in the following way: (a)
      the
      value foreseen in clause 3.1 (i) (a) will be destined to OURO VERDE, for latter
      delivery to FJJ SHARE HOLDER and in clause 3.1. (i) (b) it will be destined
      to
      OURO VERDE, for latter delivery to NETOIL SHARE HOLDER, and the value indicated
      in clause 3.1. (ii) it should be used for integral quittance of Ouro Verde
      Remaining Debts, which will be paid off directly by the Buyer in accordance
      to
      demandable. 

     

    3.5.
      SALERS and the BUYER respectively recognize and accept, observing the allowed
      in
      law, that will adopt and use the values indeed allocated to each assets or
      class
      of assets, in all of the state or federal taxes declarations or demonstrations,
      or of another applicable instance, abstaining from adopting any inconsistent
      voluntarily position in that sense, when proceeding to the preparation of such
      tributes declarations or demonstrations, in restitution forms, still, in any
      action or process that come to be instituted regarding the mentioned
      declarations or demonstrations of Tributes. In spite of any disposition in
      opposite contained in the present instrument, the above foreseen commitment
      will
      subsist to the Closing Date, in a restricted way the legal responsibility and
      for a period of the legal termination of the respective obligations.

     

    SECTION
      FOUR

    SUSPENSIVE
      AND/OR RESOLUTIVE CONDITIONS

     

    4.1.
      The
Parties
      in this
      act agree that it is precedent condition to the consummation of the operation
      here mentioned and to the Shares effective acquisition, in the terms of this
      Contract, by the Acquisition Price payment, the conditions mentioned to follow
      (the " Closing Conditions"), must have been fully satisfied, be in the full
      force and be satisfactory to the BUYER, to know: 

     

    a)
      Sidma
      should be properly constituted with all the Assets, as well as the Debts with
      COMANCHE. 

     

    b)
      The
      declarations and warranties rendered by the SALERS, as established in the
      Section Five below (the "Declarations and Warranties") should be correct and
      complete and should continue valid at the Closing Date, having the BUYER
      received the documents
      and enough information evidencing, for the BUYER'S satisfaction, that the
      referred Declarations and Warranties are complete and valid;

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    c)
      The
      confirmation that the BUYER, through Sidma and as a consequence of the Shares
      acquisition, assists all the criteria and necessary requirements to obtain
      all
      the previous licenses, installation licenses and/or operation licenses required
      by the legislation and regulation in force so that this can exercise the
      grinding activity, sugarcane in stem industrialization and processing, for
      alcohol production, storage and commercialization and its byproducts;

     

    d)
      Confirmation by NETOIL SHARE HOLDER that OURO VERDE or Sidma won't be made
      responsible, at any time, in function of eventual condemnation in the court
      records of the fiscal execution nr. 240/02, that is carried out in front of
      the
      of Assis District Court; 

     

    e)
      The
      practice of acts and the celebration of all of the additional documents that
      come to be necessary for the consummation of the operation here described;
      

     

    f)
      The
      BUYER have been capitalized in, at least, R$ 30.000.000,00 (thirty million
      Real); 

     

    g)
      The
      SALERS should have accomplished the Assets version to Sidma, that must (i)
      have
      as share holders the SALERS and OURO VERDE, and (ii) keep all the Assets, which
      should be transferred to Sidma, through the Assets version, everything in
      accordance with the corporate movement described in Considering I of this
      Contract; 

     

    h)
      The
      SALERS must, previously to the Closing Date, (i) alter the Sidma Social
      Contract, so that it has, in the Closing Date, the same social object that
      has
      OURO VERDE in this date, (ii) alter OURO VERDE social object for the social
      object of the holding society (participation in other societies), and (iii)
      alter the OURO VERDE social headquarter,
      to a
      place different of the social headquarter
      place in
      this date, so that there is no conflict with the Sidma social headquarter.
      Such
      moving is essential condition to obtain all the operational licenses for Sidma,
      as foreseen in item "c" of this Clause; 

     

    i)
      OURO
      VERDE assumes an obligation before COMANCHE to begin the transfer process of
      all
      of the necessary licenses for Sidma operation, inclusive by means of the
      necessary documentation protocol before the competent organ, observed item
      "c"
      of this Clause; 

     

    j)
      The
      SHARE HOLDERS assume an obligation to sign, on OURO VERDE behalf, in this
date,
      the
      Enclosed document 4.1 ("i") to the present, to formalize the contract for the
      OURO VERDE operational licenses use by Sidma, in order that this last, at once,
      one can exercise all of the activities that OURO VERDE performs
      today;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    k)
      The
      Closing Conditions totality must have been assisted until April 09, 2007 (the
      “Closing Date Limit "). 

     

    SECTION
      FIVE

    DECLARATIONS
      AND WARRANTIES

     

    5.1
      The
      SALERS render each one, individual, solidarly and unlimited in favor of the
      BUYER, by themselves and by the entities that represent in this Contract,
      according to the case, the following Declarations and Warranties, which should
      be true and correct in this date and in the Closing Date regarding to OURO
      VERDE, NETOIL and FJJ, as applicable, and they should be, regarding Sidma,
      in
      the Closing Date: 

     

    a)
      Of
      the Non Violation.
      The
      operation consummation here contemplated won't constitute or will result in
      the
      violation of any term, condition or disposition, neither it will constitute
      default of the terms, nor it will result in the creation of any duty,
      responsibility or obligation over the Shares, and/or over the Assets, in
      accordance with any contract or other instrument that any of the SALERS, OURO
      VERDE or Sidma are contracting or interested party. That consummation either
      will violate any law, regulation, sentence, ruling or order that forces the
      SALERS, OURO VERDE or Sidma, as well as it won't result in the loss of any
      license, certificate, local approval or local right that SALERS, to OURO VERDE,
      Sidma or the Assets have or come to have, nor they will commit the Operational
      Capacity, according to clause 5.1 (g) definition. 

     

    b)
      Observance
      to the Laws.
      The
      SALERS operations and activities relatively to OURO VERDE, Sidma or to the
      Assets don't violate any determinations or applicable laws of any government
      organ, nor the SALERS received any warning or notification that such violations
      went or could come to them imputed. They are not in course or are imminent
      any
      investigations or analyses by any Government Organ, involving the SALERS, Ouro
      Verde, Sidma or the Assets, nor the SALERS received any warning or notification
      concerning the of government organs intention in proceeding in that sense.
      

     

    c)
      OURO
      VERDE and SIDMA Corporate Constitution.
      OURO
      VERDE and Sidma are societies properly constituted and valid existent and in
      regular situation, having full power and corporate authorization to drive their
      businesses as they presently do and to have the properties and the goods that
      now have. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    d)
      Sidma
      Social Capital and Shares.
      The
      Sidma social capital is, in this date, R$ 634.234,00 (six hundred thirty four
      thousand, two hundred and thirty four real) and is divided and represented
      by the
      Shares, which were properly integralized by the SALERS, all of the Shares are
      free and free of any duty, pledge, obligation and warranty and rights of any
      nature. The SALERS didn't check, nor exist options, preferably rights, pledge
      or
      other similar rights relative to the Sidma shares. There is no law suit,
      administrative process or other fact or circumstance that could impede or
      interfere in the transfer of the Assets to Sidma, or the future Shares transfer
      to the BUYER, in the terms of the present Contract. 

     

    e)
      Constitution,
      Power and Authorization.
      The
      SALERS have full power to celebrate this Contract, accomplish their obligations
      now assumed and consummate the operations mentioned in the present Contract,
      having been taken all the measures necessary to the authorization and the
      operation consummation object of this Contract, not being necessary, therefore,
      that are taken any additional measures so that happens the signature and the
      formalization of this Contract. 

     

    f)
      Assets
      Ownership.
      Sidma
      is titular, legitimates owner and possessor of the total of the Assets, as
      described in ANNEX A and that such Assets are free and free of any duty, pledge,
      obligation and warranty and rights of any nature, except those duties
      originating from of the identified debts with (*) in the ANNEX A. OURO VERDE
      and/or the SALERS and/or Sidma not celebrated, until the Closing Date, any
      contract or agreement that has for object the Assets or the pledge constitution
      or other similar rights relative to them. 

     

    g)
      Operational
      Capacity.
      The
      Assets are capable to operate according to description of ANNEX 5.1 (g) (the
      "Operational Capacity"), having been administered and operated in its normal
      course of business by OURO VERDE or Sidma employees, according to the case,
      or
      third parties by these authorized, in accordance with follow up done by the
      Buyer, and all the production accomplished by the Assets after April 30, 2006,
      as well as with the stock, at the Closing Date, it is not object of the sale
      contract or similar contract, nor is subject to any commitment, obligation
      or
      other duty, except the sales previously signed in 04/30/2006 with Ale
      Combustíveis, in a value limited to R$250.000,00 (two hundred and fifty thousand
      real). 

    

    h)
      Obligations
      of the SALERS.
      Except
      by the Obligations with COMANCHE and by the Remaining
      Debts of OURO VERDE, the SALERS, Ouro Verde or Sidma, together or individually:
      (i) don't possess any obligation or responsibility, either incurred, contingent
      or of any other nature, besides civil, commercial, fiscal, environmental, labor
      or social security obligations that can affect the respective ownership rights
      over OURO VERDE, Sidma, the Shares or the Assets and didn't assume any
      obligation or responsibility involving OURO VERDE, Sidma, the Shares or the
      Assets; (ii) they are not parties, neither they are subject to, any litigation,
      law or administrative suit, in any instance that can affect OURO VERDE, Sidma,
      the Shares or the Assets; and (iii) they are not guarantors, bondsmen or of
      other form covenanters of any obligations nor they are parties
      of any
      contract by force of which assume an obligation to honor any obligations that
      of
      some form can commit OURO VERDE, Sidma, the Shares or the Assets. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    i)
      Normal
      Course of Operation.
      OURO
      VERDE, Sidma and the Assets will be administered and operated among from the
      present date and the Closing Date in their respective normal courses of
      business, being sure that the SALERS didn't acquire, through Ouro Verde or
      Sidma, starting from 04.30.2006 for Ouro Verde and starting from its
      constitution by Sidma, until the Closing Date, new debts, not strictly related
      and necessary to OURO VERDE business (or of Sidma, according to the case) and
      the readjustments due to interests and fines of the Ouro Verde Remaining Debts.
      

     

    j)
      No
      distribution of assets or resources.
      Between
      April 30, 2006 and the Closing Date, OURO VERDE didn't distribute or committed
      itself to distribute, and the SALERS didn't practice any act nor oriented OURO
      VERDE or Sidma to distribute or assumed any commitment to distribute, give
      up or
      burden, direct or indirectly, any of their assets, resources, besides available
      funds, at any title, of OURO VERDE or Sidma to the own SALERS, their related
      parties
      or third
parties,
      except
      if in other way contemplated in this Contract, except in the necessary measure
      for the exclusive satisfaction of the portions of the Debts of OV due between
      April 30, 2006 and the Closing Date, and since in terms and market conditions
      and in commutative character (the " Assets Extraordinary Disposition ").

     

    k)
      Contracting
      with related parties.
      The
      SALERS did not celebrated nor committed themselves to celebrate any agreement,
      contract or arrangement involving OURO VERDE, Sidma, the Shares and/or the
      Assets with any of their related parties.
      

     

    l)
      Permissions,
      Licenses and Authorizations.
      OURO
      VERDE and Sidma assist to all of the criteria, legal and technical demands,
      and
      necessary requirements to obtain of all of the permissions, licenses and
      authorizations demanded by the legislation and regulation in force, including
      the definitive operation licenses ("Licenses"), for the regular operation of
      the
      respective business, and in the Closing Date the same ones should have in their
      respective names all of the permissions, licenses and authorizations demanded
      by
      the legislation and regulation in force, including the definitive licenses
      of
      operation, for the regular operation of the business of OURO VERDE, valid and
      in
      full force. OURO VERDE and Sidma are in strict observance to all of the
      regulations, permits, administrative rules, normative instructions, laws, norms
      and pertinent demands for environment protection instituted by the municipal,
      state and federal competent organs and departments. The SALERS declare and
      guarantee that, in case the necessary Licenses to run the businesses of OURO
      VERDE have not indeed transferred to Sidma, in the Closing Date, such Licenses
      should have their transfer indeed requested to the competent organs by the
      SALERS, in accordance with the regulation in force, until the Closing Date.
      The
      SALERS, additionally, declare and guarantee that will accomplish all of the
      acts
      and necessary actions to the effective consummation of the above mentioned
      transfers. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    m)
      Integral
      Disclosure.
      All the
      documents, contracts, instruments, certificates, notes, consents, sworn
      declarations, letters, declarations, enclosures (besides, among other, the
      Enclosures that constitute integral part
      of the
      present instrument) and other documents given by the SALERS, or in its name,
      to
      the BUYER or to the person for by it indicated with respect to the present
      Contract or to the operations in it contained are faithful, complete and
      authentic. No Document provided by the SALERS, or in its name, to the BUYER
      or
      the person by it indicated by force of the present instrument or regarding
      the
      operations in it mentioned contains untrue declarations, or omits relevant
      facts
      whose disclosure in this instrument is compulsory or necessary so that the
      declarations now done don't become false or induce to mistake, in the context
      that they here are. 

     

    n)
      Inclusion and Sufficiency of the Documents. The transmission and conference
      instruments to be celebrated by the SALERS and given to the BUYER, in the
      Closing will be valid and feasible in accordance with their respective terms,
      being enough to give up, to transfer and to give to the BUYER, in the occasion
      of the Closing, the Shares, that will include, by its time, all of the goods
      related or necessary to the running the business of the OURO VERDE and Sidma,
      in
      order that these are being now done. 

     

    5.1.1
      For
      the due execution of the item "l" of this Clause 5.1, the SALERS will grant
      to
      the BUYER, in the Closing Date, a procurement, irrevocable, in a form and
      content satisfactory to the BUYER, with powers so that the BUYER can execute
      all
      the necessary acts to transfer the Licenses to Sidma or to whom the BUYER
      indicates, including, for such, powers for the ownership transfer, modifications
      or complements registration, issue declarations, signing all and any documents
      in front of the competent authorities for the good and faithful execution of
      this Contract. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5.2.
      the
      BUYER renders the following declarations and warranties, which should be true
      and correct in the Closing Date. 

     

    a)
      Constitution,
      Power and Authorization.
      The
      BUYER has full power to celebrate this Contract, to accomplish their obligations
      now assumed and to consummate the operations included in the present Contract,
      having been taken all the necessary measures to the authorization and the
      consummation of the operation object of this Contract, not being necessary,
      therefore, that are taken any additional measures so that happens the signature
      and the formalization of this Contract. 

     

    SECTION
      SIX

    SOLIDARY
      RESPONSIBILITY AND COMPENSATION RIGHT

     

    6.1.
      The
      SALERS will solidary answer in front of the BUYER for all and any values that
      were forced, such as tributes, fiscal or social security contributions and
      fines, that by chance stopped being paid by the SALERS in the dates demanded
      by
      law, that were not provisioned at OURO VERDE (or at Sidma, according to the
      case) and relative to generating facts happened previously to the Closing Date,
      as well as any obligation, contingent or no, of civil, commercial, labor,
      environmental, social security or fiscal nature of the SALERS that have been
      by
      these assumed by legal and succession force and relative to happened facts
      or
      actions practiced previously to the Closing Date. 

     

    6.2.
      The
      SALERS recognize and agree that, they can be compensated and deduced against
      the
      portions still pending of the Acquisition Price, any cost, expense, penalty,
      damage, loss, damage or responsibility of any nature or species (including
      interests, indexation, attorney’s fees and judicial and administrative costs)
      incurred by the BUYER due to the SALERS (i) after accomplished the acquisition
      transaction of the Shares included in this Contract, rendered any Declaration
      and Warranty that it is not true, complete or correct; or, (ii) undone the
      obligation due to the Sections Ten and Eleven of the present Contract.

     

    6.3.
      The
      obligations included in this Section Six and the Declarations and Warranties
      will subsist until the end of this Contract, staying in force until the end
      of
      the prescription period and lapsing of each one of the respective obligations
      or
      in up to 5 (five) years counted from the Closing Date, what happen last.

     

    SECTION
      SEVEN

    INTERIM
      ADMINISTRATION

     

    7.1.
      Until the Closing Date or the end of this Contract, the SALERS guarantee that
      the OURO
      VERDE and Sidma administration they were and will be accomplished in a
      responsible way and maintaining the normal course of the activities of the
      company, not increasing OURO VERDE debts (except in the approved measure by
      the
      BUYER) and executing all of the obligations of the normal course of the
      companies, including to honor the debts expirations and taxes in the expiration
      dates, by Extraordinary Dispositions of Assets. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7.2.
      Until the Closing Date or the end of this Contract, OURO VERDE, or Sidma (as
      applicable), won't distribute nor will commit themselves to distribute, and
      the
      SALERS won't practice any act nor will orient OURO VERDE or Sidma to distribute
      or will assume any commitment to distribute, give up or burden, direct or
      indirectly, any of their assets, resources, besides available funds, at any
      title, of OURO VERDE or Sidma, to the own SALERS, their related parties or
      third
      parties, except by Extraordinary Disposition of Assets. 

     

    SECTION
      EIGHT

    PERIOD
      AND RESCISSION

     

    8.1.
      This
      Contract comes becomes effective in this date, and it will stay in full force
      and effect until the date in that happen first any of the following events
      (the
      " Duration Period "): (i) the effectiveness of the operation here included
      in
      the Closing Date or (ii) the non execution in a satisfactory way, at the BUYER
      criteria of the Closing Conditions until April 09, 2007. 

     

    8.2.
      The
      SALERS commit themselves to endeavor their best efforts so that all of the
      Closing Conditions are accomplished in the smallest period reasonably
      practicable. 

     

    SECTION
      NINE

    EXCLUSIVENESS,
      NON-COMPETITION

     

    9.1.
      The
      SALERS, during the Validity Period, agree in negotiate in exclusiveness
      character with the BUYER the Assets sale (whole or partly) or the Shares, and
      they commit to not celebrate any contract relative to the Assets, not to issue
      any new shares of OURO VERDE or Sidma, neither to alter the current corporate
      composition of OURO VERDE or Sidma, not to transfer any share that hold from
      OURO VERDE or that will hold Sidma, not allowing the constitution of any duty
      on
      the shares of OURO VERDE or over the Shares, except those included in this
      Contract. When the Closing Date, and in consideration to the Acquisition Price,
      each SALER commits, without having the need of any additional documentation,
      to
      abstain, direct or indirectly, of competing with OURO VERDE and/or Sidma, or
      with any of their related parties, in any form, for the period of five years
      to
      count from the Closing Date, in the markets explored by OURO VERDE, in this
      date. Are excepted of the non competition obligation now agreed the businesses
      driven by SHARE HOLDERS that are placed out of a ray of 100
      km
      (one hundred kilometers) of OURO VERDE or Sidma facilities, except for the
      liquor production activities by the company FJJ partners, which have rural
      property inside this perimeter. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SECTION
      TEN

    CONFIDENCIALITY

     

    10.1.
      Each Party should maintain secrecy on all of the information obtained from
      the
      other Party in relation to the present Contract that are not of public
      knowledge, don't have been independently known or developed, that has not been
      obtained from third parties or that are not of public knowledge because of
      the
      Party fault that has received it (jointly the "Confidential Information").
      The
      Confidential Information (that can be oral, written or magnetic, designated
      or
      not as "confidential", and that includes contact information and information
      regarding structures, business methods or financial organization) will only
      be
      able to be used by the receiving Party in the effectiveness of the transactions
      included in this Contract and for any other purpose. In the hypothesis of this
      Contract rescission, all of the documents (including the copies) obtained
      because of this Contract by one Party should be returned to the other pertinent
      Party, however, the confidentiality obligations and limitation to its use will
      remain in force for the period of two years after the rescission date. Each
      Party commits itself not to publish and maintain in secrecy the terms and
      conditions of this Contract, being included, but if not limited to the below
      compensation to be paid, except if the disclosure of those information is
      demonstrated obligatory for the purchase and sale consummation included in
      this
      Contract, demanded by any government authority, applicable law or Stock Exchange
      regulation to which the Party is submitted, or if it obtains the consent of
      all
      the other listed Parties. In the case of this clause obligations noncompliance
      by one of the Parties, the faulty Party should compensate the other for losses
      and damages. 

     

    SECTION
      ELEVEN

    FINAL
      DISPOSITIONS

     

    11.1.
      The
      Parties, in this act, expressly, agree with all the terms and conditions of
      the
      present Contract, having nothing to oppose to it, at any title and at any time,
      assuming an obligation, to accomplish all of the necessary act sand formalities
      for the full and perfect formalization of the Shares sale now contracted,
      especially those related to the Closing Conditions performance, besides in
      front
      of all the competent organs, signing contractual alterations and any other
      documents that are necessary for such. 

     

    11.2.
      The
      present Contract is signed in an irrevocable form and irrevocable, obliging
      the
      parties and their successors at any title. 

     

    11.3.
      The
      present Contract cannot be added or altered without the approval of all the
      parties, in writing, and, except in the cases expressly foreseen in this
      Contract, none of the Parties can give up or transfer any of their rights and
      obligations originating from this
      Contract, without the other Parties consent. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    11.4.
      The
      invalidity, inefficacy or unfeasibility of any of the dispositions contained
      in
      this Contract, won't invalidate or will turn inoperative or unfeasible any
      of
      the other dispositions of the present Contract, which will continue in full
      force. The Parties should negotiate the necessary measures to cure such
      dispositions of eventual existent addictions. 

     

    11.5.
      All
      and any communications or notifications regarding the present instrument should
      be made in writing and sent to the Parties
      by
      registered letter with return warning, or by telefax for the addresses below
      discriminated: 

     

    SALERS:
      

     

    The
      communications should be sent to all the below addresses: 

     

    (a)
      FJJ
      EMPREENDIMENTOS E PARTICIPAÇÕES LTDA.. 

    At.:
      Silene Soares Bernardo 

    Rua
      Ari
      Barroso, 451, Jardim Matilde, Ourinhos/SP

    CEP
      19.900-300

    Fax:
      (14)
      3343 1188 

     

    (b)
      NET
      OIL INTERMEDIAÇÃO DE NEGÓCIOS LTDA.. 

    At.:
      Tadeu Kume 

    Rua
      Benjamim Constant, no. 33, 7o. Andar

    CEP
      19806-130 - Assis/SP

    Fax
      (18)
      3322-8222 

     

    (c)
      OURO
      VERDE AÇÚCAR E ÁLCOOL LTDA.

    At.:
      Francisco Celso Ligifro 

    Rodovia
      Gabriel Ligeiro, km. 04, sala 02

    CEP
      18990-000 - Canitar, São Paulo

    Fax
      (14)
      3343 1188 

     

    BUYER:
      

     

    The
      communications should be sent to all the below addresses: 

     

    IVO
      TOLESANO JR. 

    Rua
      Funchal, 375, conjunto 81

    Vila
      Olímpia - 04551-060 São Paulo/SP

    Fax
      (11)
      3044-0342 

     

    
      	c.c.	
              MHMK
                - Sociedade de Advogados

            

    

    At.
      Byung
      Soo Hong 

    Av.
      Brigadeiro Faria Lima, 1461, 12 andar

    Fax
      (11)
      3094-7820 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    11.6.
      The
      present Contract is governed by the laws of the Federal Republic of Brazil
      and
      any claim or I conflict originating from this Summary should be exclusively
      solved before the District Forum of the City of São Paulo, Brazil. 

     

    And
      therefore, for being fair and contracted, the parties
      sign the
      present instrument in 04 (four) copies, of equal form and content, in the
      presence of the two below witness. 

     

    São
      Paulo, March 14, 2007.

     

    SELLERS:
      

     

    
      	
               

              /s/
                Silene Soares Bernardo

              FFJ
                Empreendimentos e Participações Ltda.

              p.
                Silene Soares Bernardo

            	
               

              /s/
                Alexandre Tadeu Nunes Kume

              Netoil
                Intermediação de Negócios Ltda.

              p.
                Alexandre Tadeu Nunes Kume

               Delmo
                Sérgio Vilhena

            

    

     

    
      	
               

              /s/
                Francisco Celso Ligeiro

              Ouro
                Verde Açúcar e Álcool Ltda.

              p.
                Francisco
                Celso Ligeiro e 

              Alexandre
                Tadeu Nunes Kume

            	
               

               

            

    

     

    BUYER:
      

     

    
      	
               

              /s/
                Ivo Tolesano Júnior

              COMANCHE
                do Brasil Participações Ltda.

              p.
                Ivo Tolesano Júnior 

            	
               

               

            

    

     

     

    
      	
              Witness:
                

              
                1.
                  ______________________________ 

                Name:
                  

                ID:

              

            	
               

              2._____________________________
                

              Name:
                

              ID:
                

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

      

    List
      of
      the ANNEX to the Contract: 

     

    ANNEX
      A:
 "Fixed
      Assets" 

    ANNEX
      B:
      Debts with COMANCHE: "Contracts A, B, C, D, AND, F and G" 

    ANNEX
      3.1. (ii): " Remaining Debts of Ouro Verde" 

    ANNEX
      5.1
      (g): "Operational Capacity"PARTICULAR
      INSTRUMENT OF PURCHASE AND SALE AND OTHER AGREEMENTS

    

    By
      the
      present particular instrument, the parts, on a side,

    

    
      	·      	
              IBR
                INDÚSTRIA BRASILEIRA DE RESINAS LTDA.,
                society limited, head office at Via da Penetração IV, Area of Light and
                Medium Industries, Lot 25, Industrial Center of Aratu, municipal
                district
                of Simões Filho, State of Bahia, registered at CNPJ under nr.
                02.392,616/0001-80, in this act represented in the form of yours
                social
                contract by Mr. HILTON BARBOSA LIMA, below qualified
                ("IBR")

            

    

    

    
      	·      	
              Mr.
                HILTON BARBOSA LIMA,
                Brazilian, single, company’s administrator, ID nr. 05.350.515-08 SSP/BA,
                registered at CPF/MF under the nr. 893.463.195-34, resident and domiciled
                at the Lake Jackson Street, house 210, in the city of Salvador-BA,
                ZIP
                CODE 41.810-120.

            

    

    

    
      	·      	
              Mr.
                THIAGO BARBOSA LIMA,
                Brazilian, single, entrepreneur, ID nr. 09.462.794-03 SSP/BA, registered
                at CPF/MF under the nr. 809-566.965-20, resident and domiciled at
                the Lake
                Jackson Street, house 210, in Salvador-BA city, ZIP CODE 41.810-120,
                in
                this act represented by HILTON
                MORAIS LIMA, Brazilian,
                married, entrepreneur, ID nr. 958.630-01 SSP/BA, registered at CPF/MF
                under the nr. 085.178.005-91, resident and domiciled at the Lake
                Jackson
                Street, house 210, in the city of Salvador-BA, ZIP CODE 41.810-120,
                in the
                terms of the granted letter of attorney in
                March, 3rd, 2005, wrought by
                the Registry Office of the First Office of Notes of the District
                of
                Cachoeira - Bahia, in the book 089, sheet 082; and
                

            

    

    

    
      	·      	
              HBL
                PARTICIPAÇÕES E EMPREENDIMENTOS LTDA.,
                society limited with head office at the Alfazema Street, nr. 761,
                Ed.
                Iguatemi Business & FI, Room 501, Caminho das Árvores, ZIP CODE:
                41.820-710, municipal district of Salvador, State of Bahia, registered
                at
                CNPJ under nr. 07.758.920/0001-12, in this act represented in the
                form of
                it social contract by Mr. HILTON BARBOSA LIMA, above
                qualified.

            

    

     

    (HILTON
      BARBOSA LIMA, THIAGO BARBOSA LIMA and HBL PARTICIPAÇÕES E EMPREENDIMENTOS LTDA.,
      henceforth designated, together, Shareholders, individually,
      Shareholder) 

    

    (Shareholders
      and IBR henceforth designated simply, together, SALESPERSONS and, separately,
      SALESPERSON)

    

    and,
      by
      other side

     

    
      	·      	
              COMANCHE
                DO BRASIL PARTICIPAÇÕES LTDA.,
                society limited entrepreneur, with headquarter in the capital of
                the State
                of Sao Paulo, in the Alameda Campinas, 463, 7° floor, registered at CNPJ
                under the nr. 07.751.535/0001-43, in this instrument represented
                by its
                Director, Mr. Ivo Tolesano Júnior, Brazilian, married, company’s
                administrator, ID no. 5.255.932 SSP/SP, registered at CPF/MF under
                the nr.
                579.584.918-91, resident and domiciled in the capital of the State
                of Sao
                Paulo, at the Funchal street, nr. 375, 8th floor, room 81, henceforth
                simply designated BUYER;

            

    

     

    (SALESPERSONS
      and BUYER designated, together, as Parts and, individually, as
      Part)

    
       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

      

    

    PRELIMINARY
      CONSIDERATIONS

    

    CONSIDERING
      THAT:

     

    I. IBR
      is
      the owner or holder of rights active, immobile, equipments, contracts, and
      other
      goods related to the production activity, storage and biodiesel transport,
      described and characterized in the form no exhausting in the Annex
      A
      to the
      present, and it can become, between this date and the Closing Date, owner or
      holder of new contracts or assets related to the biodiesel production (the
      "Assets", and such activity "Business of Biodiesel").

    

    II. SHAREHOLDERS
      are titular and legitimate proprietors of the totality of the representative
      shares of 100% (a hundred percent) of the social capital of IBR, shares these
      free from any onus, obligations, duties, responsibilities or disputes before
      third parties (the "Shares").

    

    III. Observed
      the established conditions in the present instrument, the BUYER wants to acquire
      from the Shareholders the Shares or the Assets, and the Shareholders want to
      alienate them.

     

    THE
      PARTS
      DECIDE to celebrate the present Particular Instrument of Purchase and Sale
      and
      Other Agreements ("Contract”) which will regulate the acquisition by the BUYER
      of the Shares or the Assets from the Shareholders, according to the terms and
      conditions below:

     

    SECTION
      ONE

    INTEGRAL
      AGREEMENT

    

    1.1  The
      Parts
      agree by this Contract that the established obligations in any documents or
      previous understandings, be in writing or verbally, that the Parts or any part
      related to them have negotiated in relation to the Assets and to the Shares
      were
      properly accomplished in this date, and the terms and conditions here foreseen
      substitute all and any previous agreement signed by the Parts or by parts
      related to them.

     

    SECTION
      TWO

    CLOSING

    

    2.1 In
      the
      date that all the Closing Conditions are accomplished, as defined in the Section
      Four below, (“Closing Date”), in agreement with the terms and conditions of the
      present Contract, and by the payment of the price stipulated in the Clause
      3.2
      below:

     

    (A)  In
      case
      the willing condition of the Clause 2.2 (i) below has been satisfied, the BUYER
      will acquire from the Shareholders the Shares; or 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (B)  In
      case
      the condition foreseen in the Clause 2.2 (i) has not been satisfied, but the
      conditions foreseen in the clauses 2.2 (ii) and 2.3 have been satisfied, the
      BUYER will acquire from the SHAREHOLDERS the Assets.

    

    2.2  For
      the
      purpose of the acquisition modalities determination of the BUYER foreseen in
      the
      Clause 2.1 above, the Parts agree with the following conditions to be
      satisfied:

    

    (i)
       For
      the
      BUYER accomplish the Shares acquisition, is indispensable the realization of
      an
      accounting auditing in IBR in agreement with the accounting principles accepted
      usually in Brazil, satisfactory to the BUYER and charged to him. 

    

    For
      the
      purposes of the accounting auditing the Shareholders commit to cooperate and
      to
      undertake the best efforts, making available all of the information and
      necessary documents for the referred accounting auditing in the smallest
      possible period.

    

    (ii)
       In
      the
      case that the PARTS and the BUYER contracted auditing company understand that
      is
      not probable that the auditing became concluded without important exceptions,
      or
      case the PARTS make a mistake in this agreement and the auditing became not
      conclude without important exceptions, the Shareholders should go along to
      all
      the acts necessaries to effect of a efficient and valid form a reduction of
      the
      IBR share capital, by the payment and distribution “in natura” to the
      Shareholders of the Assets totality. 

    

    2.3 In
      the
      Closing Date, SALESPERSONS and BUYERS should realize the Assets or the Shares
      transfer, according to the case, by the practice of all the necessaries acts
      for
      the effective operation here contemplated, as, for example, the celebration
      of
      the public deed of purchase and sale of the immobile and the instrument of
      alteration of the IBR Social Contract, observed the disposition of the item
      3.2
      (i) below.

    

    SECTION
      THREE

    ACQUISITION
      PRICE AND PAYMENT OF THE ACQUISITION PRICE

    

    3.1
       In
      the
      Closing Date, and since that the Closing Conditions foreseen in the Section
      Four
      below have been integrally satisfied, the BUYER, or who designated by him,
      will
      pay to the SALESPERSONS, as price by the Shares or Assets, depending of the
      case, the sum or the values defined in the clause 3.2 below (“Acquisition
      Price”), in the way and conditions established in the next clauses.

    

    3.2 The
      BUYER
      will pay to the Shareholders or to IBR, by the acquisition of the Shares or
      the
      Assets, as the acquisition modality establish in the terms of the Clause 2.1
      above, (i) R$ 20,000,000.00 (twenty million of Real), case occur the acquisition
      of the Shares, assuming too the Buyer the Refis Debt, as defined in the follow
      item (i) which, in any case, will be superior to R$ 2,100,000.00 (two million
      and one hundred thousand real), OR (ii) R$ 22,100,000.00 (twenty two million
      and
      one hundred thousand real), case occur the acquisition of the Assets, as
      eventually adjusted, to be paid as follow and in the following conditions:
      

    

    (i)  in
      the
      Closing Date and by formalization of the necessary acts for the transfer of
      the
      Shares or the Assets, according to the case, (a)
      in
      occurring the acquisition of the Shares, the IBR will continue responsible
      by
      the payment of the IBR debt due to the adhesion to the program of exceptional
      parceling of fiscal tax debts, foreseen in the Provisory Act nr. 303, of June
      29th, 2006, by which IBR committed to pay all the open fiscal debts until then
      in 120 (hundred and twenty) parcels, of maximum value, R$ 2,100,000.00 (two
      million and a hundred thousand real) (“Refis Debt”), OR, (b)
      occurring the Assets acquisition, R$ 2,100,000.00 (two million and one hundred
      thousand real) will be paid by the BUYER to the SALESPERSONS;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (ii)  The
      value
      of R$ 20,000,000.00 (twenty million real), being (a)
      R$
      12,500,000.00 (twelve million and five hundred thousand real) in cash, in the
      Closing Date, eventually adjusted in the terms of the Clauses 3.3 and 7.3,
      and
      against the signature and deliver of the final documents formalizing the Shares
      and Assets transfer, depending of the case; (b)
      R$
      5,000,000.00 (five million real), which will deposit in a joined account of
      deposit in warranty (the “Investment Warranty Account”), to be moved jointly
      among the Parts, in the Closing Date, and will be released to the SALESPERSONS
      for the accomplish of the obligations foreseen in the Clause 4.1 (g); and
      (c)
      R$
      2,500,000.00 (two million and five hundred thousand real), which will be
      deposited in a joined account of warranty deposit (the “Final Payment Warranty
      Account”) in the Closing Date, and will be released to the SALESPERSONS in
      January 31st,
      2008,
      since that the Declarations and Warranties (as defined in the Clause Fifth)
      are
      still valid, corrects and true, as declared and warranted in the Closing Date.
      

     

    3.3 If
      in the
      Closing Date be refined any debt, contingency or passive of IBR different from
      the Debt Refis, the BUYER, with consent of the SALESPERSONS, will pay such
      debt,
      contingency, inadequacy active or liabilities supervenience, by the reduction
      of
      the Acquisition Price in equivalent amount. In case any of the debts,
      contingency or liabilities cannot be paid off in advance, the respective debts,
      contingency or liabilities will be assumed by the BUYER.

     

    3.4 In
      the
      closing date, in the case of no assumption of the liabilities, debts or
      contingency of IBR by the Buyer, in the form of the clause 3.3, the
      Shareholders, in the case of sale of the Shares, or the IBR, in the case of
      the
      sale of the assets, had(have) been sponsor(s) for the payment of the debts
      discriminated in the item "bills to pay" of its patrimonial balance, and
      it(they) will stay holder(s) of the credits described in the item "bills to
      receive" of its patrimonial balance, as well as of the integrated goods of
      the
      stock in the Closing date. The IBR debts, credits and stock, in the Closing
      Date
      will be determined for the patrimonial balance especially for
      this objective in the Closing date.

     

    3.5 The
      Shareholders, the IBR and the BUYER recognize and accept, observed the allowed
      in law, that they will adopt and to use the values indeed allocated to each
      assets or class of assets, in all of the declarations or demonstrations of
      taxes
      federal, state or of another applicable instance, abstaining from adopting
      any
      voluntarily position inconsistent in that sense, when proceeding to the
      preparation of such declarations or demonstrations of taxes, in restitution
      forms or, still, in any action or process that come to be
      established regarding
      mentioned declarations or demonstrations of Taxes. In spite of any opposite
      disposition contained in the present Instrument, the commitment foreseen above
      will subsist to the Closing Date, in a restricted form the legal responsibility
      and for period of the legal prescription of the respective obligations.

     

    3.6 The
      Parts
      will negotiate in good faith and inside of the legal limits a tax planning
      that
      shown itself less onerous for the accomplishment of the payment of the
      Acquisition Price. 

    

    SECTION
      FOUR

    CONDITIONS
      SUSPENSIVE AND/OR RESOLUTIVES

     

    4.1 The
      Parts
      in this act agree that, as precedent condition to the consummation of the
      operation here contemplated and for the effective alienation of the Shares
      or
      Assets, according to the case, in the terms of this Contract, by the payment
      of
      the Acquisition Price, the conditions listed proceed (the "Closing Conditions"),
      must have been fully satisfied, to be in total effect and they be satisfactory
      to the BUYER, or totally or partially resigned by an exclusive criteria of
      the
      BUYER: 

     

    
      	
            	a)	
              Declarations
                and Warranties.
                The declarations and warranties rendered by the SALESPERSONS, as
                established in the Section Five below (the "Declarations
                and Warranties")
                should be correct and complete and should continue valid at the Closing
                Date, having the BUYER received the documents and enough information
                evidencing, for the BUYER'S satisfaction, that referred Declarations
                and
                Warranties are complete and validate.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	b)	
              Auditing
                and Technical Opinions.
                The auditing legal, financial and accounting, besides the technical
                opinion, established in the Section Six should be satisfactory to
                the
                BUYER and should be enough to allow the accounting auditor to approve
                the
                consolidation of the Shares or the Assets in the Buyer's Patrimonial
                Balance, in agreement with the accounting principles usually accepted
                in
                the United States of America ("US
                GAAP")
                without any safeguard, and should be delivered by the SALESPERSONS
                the
                documents to are necessary to the realization of referred auditing,
                such
                as certificates, instruments, negative certificates, reports and
                other, as
                well as for the confirmation of the Assets Capacity, according to
                definition of the clause 5.1 (g), confirming that this will be attested
                by
                verification made by independent engineering company, with recognized
                and
                well-known capacity in the segment of its actuation, indicated by
                the
                BUYER and accept by the SALESPERSONS, which acceptance will not be
                refused
                without a reasonable justification.   

            

    

     

    
      	
            	c)	
              Licenses
                and Registrations.
                The confirmation that the BUYER, as a consequence of the acquisition
                of
                the Shares or Assets, according to the case, possesses all the
                installation licenses and/or operation licenses, State Registration,
                register in the National Agency of Petroleum and all the others required
                by the legislation and regulation in effect to permit it to exercise
                the
                activity of Industrialization and processing of vegetable oils and
                animal
                fat for the production, storage and biodiesel commercialization and
                its
                derived. Such confirmation will be certified by a technical report
                of
                specialized independent company, with a recognized and well-known
                capacity
                in the segment of its actuation.

            

    

     

    
      	
            	d)	
              Fiscal
                Benefits.
                The confirmation that the BUYER pled the extension for the Business
                of
                Biodiesel of the fiscal benefit granted already for IBR by the Decree
                4.213, of April 06th,
                2002, as well as that can count with whole the help of the SALESPERSONS
                with the objective of contribute for the BUYER to enjoy of the State
                fiscal benefits that are available for the respective activity, in
                agreement with the applicable public politics to the fiscal sphere
                in the
                state and federal field of action.

            

    

     

    
      	
            	e)	
              Strange
                activities to the Business of Biodiesel.
                In case of acquisition of the Shares, it is necessary that have a
                separation of the relative assets to the strange activities to the
                Business of Biodiesel (which don't include the Assets) for another
                company
                indicated by the SALESPERSONS, taking them the responsibility for
                the
                total Independence of these activities and eventual passive
                and 
                contingencies from them; or in case of purchase of the Assets, they
                should
                be transferred free of any link with stranger activities to the Biodiesel
                Business, being that the SALESPERSONS became responsible by the total
                independence of these activities and eventual liabilities and
                contingencies generated by them. 

            

    

     

    
      	
            	f)	
              Supply
                of raw material of Third Parties.
                That evidences of the raw material readiness exist for the BUYERS
                for
                biodiesel production in an annual minimum volume of 20,000,000 (twenty
                million) of liters for a minimum period of 3 years, and that the
                SALESPERSONS are endeavoring the best efforts in the sense of celebrating
                contracts for the acquisition of raw material. 

            

    

     

    
      	
            	g)	
              Supply
                of Raw material by the Shareholders. That
                Shareholders invest the Portion of the Acquisition Price foreseen
                in the
                Clause 3,2 (ii) (b) in the acquisition of immobile rural and investment
                in
                planting of oleaginous for raw material of biodiesel production.
                The raw
                material produced by the SALESPERSONS will be supplied to the BUYER
                in
                exclusiveness regime for a period of 10 years; as the contract to
                be
                firmed between the parts, whose terms and conditions will be agreed
                between the Parts until the Closing Date.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	h)	
              Plan
                of Industrial Expansion. That
                exists a plan of expansion of IBR or of the Assets, with budgets
                of the
                potential suppliers, to reach the capacity of production of 100.000.000
                (a
                hundred million) of liters a year.

            

    

     

    
      	
            	i)	
              Technical
                Advisor. That
                Shareholders commit to accompany the process biodiesel production
                for a
                minimum period of 3 months after the Closing Date, supplying, with
                exclusiveness, the necessary technical support and verifying the
                biodiesel
                production starting from the certain specifications by the sector
                regulators Governmental Agencies, in a contract whose terms and conditions
                will be agree between the Parts until the Closing Date. 

            

    

     

    
      	
            	j)	
              Acts
                and Additional Documents. The
                practice of acts and the celebration of all of the additional documents
                that come to be necessary for the consummation of the operation here
                contemplated.

            

    

     

    
      	
            	k)	
              Period
                Limit. The
                totality of the Closing Conditions must have been attended in a period
                equal or less than 120 (hundred and twenty) days to count of the
                present
                dates or in any subsequent date that the BUYER comes to accept, at
                it
                exclusive criteria (the “Closing
                Limit Date").

            

    

    

    SECTION
      FIVE

    DECLARATIONS
      AND WARRANTIES

     

    5.1 THE
      SALESPERSONS render each one, individual, solidary and unlimitedly, the
      following Declarations and Warranties, which should be true and correct in
      the
      Closing Date:

    

    
      	
            	a)	
              Of
                the Non Violation. The
                consummation of the operation here contemplated won't constitute
                or it
                will result in the violation of any term, condition or disposition,
                nor
                will it constitute breach of contract of the terms, nor it will result
                in
                the creation of any gravamen, obligation or onus on the Shares, and/or
                on
                the Assets, in agreement with any contract or other instrument that
                any of
                the SALESPERSONS are part or interested party. That consummation
                either
                will violate any law, regulation, sentence, instruction or judicial
                order
                that force the SALESPERSONS as well as it won't result in the loss
                of any
                license, certificate, local approval or local right that the SALESPERSONS,
                the IBR or the Assets have or come to have, nor they will commit
                the
                Assets Capacity, according to definition of the clause 5.1
                (g). 

            

    

     

    
      	
            	b)	
              Observance
                to the Laws. The
                operations and activities of the SALESPERSONS relatively to the IBR
                and to
                the Assets don't violate any determinations or applicable laws of
                any
                government organ, nor the SALESPERSONS received any warning or
                notification that such violations went or could come to be them imputed.
                They are not in course or, except for better judgment of the SALESPERSONS,
                they are imminent any investigations or analyses by any Government
                Organ,
                involving the SALESPERSONS or the Assets, nor the SALESPERSONS received
                any warning or notification about the intention of governmental organ
                to
                proceed at this way.

            

    

     

    
      	
            	c)	
              Member
                Constitution of IBR. IBR
                is a limited society properly constituted and existent validly and
                in
                regular situation, having full powers and the member’s authorization to
                drive their businesses as it makes actually and to possess the properties
                and the goods that now possesses.

            

    

     

    
      	
            	d)	
              IBR
                Social Capital and Shares. The
                IBR social capital is, in this date, of R$ 2,033,622.00 (two million,
                thirty three thousand, six hundred and twenty-two real) and it is
                divided
                and acted by the Shares, which were completed by the Shareholders,
                all of
                the Shares are free and disencumbered of any gravamen, pledge, onus
                and
                warranty and rights of any nature. The Shareholders didn't check,
                nor
                options exist, rights preferably, pledge or other similar rights,
                pledge
                or other relative similar rights to the Shares. There is none lawsuit,
                administrative process or other fact or circumstance that it could
                obstruct or interfere in the transfer of the Shares in the terms
                of the
                present Contract.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	e)	
              Constitution,
                Power and Authorization, The
                SALESPERSONS have full powers to celebrate this Contract, to accomplish
                their obligations now assumed and to consummate the operations
                contemplated in the present Contract, having been taken all the necessary
                measures to the authorization and consummation of the operation object
                of
                this Contract, not being necessary, therefore, that be take additional
                measures to occur the signature and the formalization of that
                Contract

            

    

     

    
      	
            	f)	
              Ownership
                of the Assets.
                The IBR or the Shareholders, as the case, is (they are) ownership,
                legitimate landlady and possessor of assets that, in, group, be enough
                to
                react, in solid way with the economical expectations, at least, 40,000
                tons of biodiesel a year, among them the assets described in the
                Annex A,
                being that the necessary equipments for stockpiling don't assist
                that
                production, becoming necessary for that be realized investments,
                which
                ones are and that they are in perfect conditions of use and free
                and
                unimpeded of any gravamen, pledge, onus and warranty and rights of
                any
                nature, the IBR and/or Shareholders were not celebrated any contract
                or
                agreement that has for object the Assets or the pledge constitution
                or
                other relative similar rights to the same
                ones.

            

    

     

    
      	
            	g)	
              Capacity
                of the Assets. The
                necessary IBR Assets for the operation of the biodiesel businesses
                are
                physically located inside of the immobile goods that compose the
                Assets
                and that are capable to operate in way efficient, reliable, continuous
                and
                in solid way with the economical expectations, for to industrialize,
                at
                least, 130,000 liters of biodiesel a day, with base in a year of
                300 days,
                (the "Assets Capacity"), (except necessary equipments for stockpiling)
                having been administered and operated in its normal course of business
                by
                the IBR employees.

            

    

     

    
      	
            	h)	
              Obligations
                of the Salespersons. The
                SALESPERSONS, together or individually: (i) don't possess any obligation
                or responsibility, wants incurred, contingent or of any other nature,
                besides obligations civil, commercial, fiscal, environmental, labor
                or
                related to Social Security that can affect the respective ownership
                rights
                on the Shares and the Assets and they didn't assume any obligation
                or
                responsibility involving the Shares and the Assets; (ii) they are
                not
                parts, nor they are subject to, any litigation, judicial or administrative
                proceeding, in any instance that can affect the Shares and the Assets;
                and
                (iii) they are not guarantors, bondsmen or of other form warrantor
                of any
                obligations nor they are parts of any contract by force of which
                they
                assume any obligation to honor that of some form can compromise the
                Shares
                and the Assets.

            

    

     

    
      	
            	i)	
              Normal
                Course of Operation. The
                IBR and the Assets will be administered and operated between the
                present
                date and the Closing Date in their respective normal courses of
                businesses, being right that SALESPERSONS do not acquired new debts,
                that
                not in you debts strictly related and necessary to the business of
                the IBR
                and the legal readjustments of the Debts of IBR.

            

    

     

    
      	
            	j)	
              No
                distribution of assets or resources.
                Between the present date and the Closing Date, the IBR didn't distribute
                or committed to distribute, and the Shareholders didn't practice
                any act
                nor they guided the IBR to distribute or they assumed any compromise
                to
                distribute, to give in or to burden, direct or indirectly, any of
                the
                their assets, resources, including available funds at any title of
                IBR, to
                the proper Shareholders, their related parts or third parties, except
                if
                contemplated in another way in this
                Contract.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	k)	
              Recruiting
                with related parts. The
                SALESPERSONS were not celebrated nor compromised themselves to celebrate
                any agreement, contract or arrangement involving the Shares and/or
                the
                Assets and/or the businesses of the Salespersons with any of their
                related
                parts.

            

    

     

    
      	
            	l)	
              Permissions,
                Licenses and Authorizations. The
                IBR assists, in this date, to all the criteria, legal and technical
                demands, and necessary requirements for the obtaining of all the
                permissions, licenses and authorizations demanded by the Legislation
                and
                regulation in effect, including the definitive licenses of operation,
                to
                regulate the IBR businesses operation, and in the Closing Date the
                same
                ones should have in their respective names all of the permissions,
                licenses and authorizations demanded by the legislation and regulation
                in
                effect including the definitive licenses of operation, for the regular
                IBR
                businesses operation, valid and in total effect. The IBR is in strict
                observance the all of the regulations, permits, entrances, normative
                instructions, laws, norms and pertinent demands of protection to
                the
                environment instituted, organs and municipal, state and federal competent
                departments. Considering that actually the environmental licenses
                and the
                license granted by the Petroleum Natural Agency allow a production
                of IBR
                of 65,000 (sixty five thousand) liters a day, in the Closing should
                have
                been take all the necessary procedures to request the enlargements
                of the
                respective licenses to authorize the IBR to work with a total capacity
                of
                100,000 m3/year.

            

    

     

    
      	
            	m)	
              Integral
                Disclosure.
                All the documents, contracts, instruments, certificates, warnings,
                consents, sworn declarations, letters, declarations, annexes (including,
                among other, the Annexes that constitute integral part of the present
                instrument) and other documents delivered by the SALESPERSONS, or
                in his
                name, to the BUYER or the person for her suitable with respect to
                the
                present Contract or to the operations in him contemplated are faithful,
                complete and authentic. No Document supplied by the SALESPERSONS,
                or in
                his name, to the BUYER or the person for her suitable by force of
                the
                present instrument or related to the operations in it contemplated
                contains untrue declarations, or it omits relevant facts whose disclosure
                in this instrument is compulsory or necessary so that the declarations
                now
                made don't turn false or induce to mistake, in the context find
                here.

            

    

     

    
      	
            	n)	
              Inclusion
                and Sufficiency of the Documents. The
                transmission instruments and conference to be celebrated by the
                SALESPERSONS and delivered to the BUYER, in the Closing will be valid
                and
                feasible according with their respective terms, being enough to give
                in,
                to transfer and to grant to the BUYER, in the occasion of the Closing,
                the
                Shares and the Assets, according to the case, that will include,
                on the
                other hand, all of the goods related or necessary to the conduction
                of the
                IBR biodiesel businesses, in the way that these are being
                conducted.

            

    

     

    5.2 The
      BUYER
      informs the followings declarations and warranties, which should be true and
      corrects in the Closing Date. 

    

    
      	
            	a)	
              Constitution,
                Power and Authorization, The
                BUYER have full powers to celebrate this Contract, to accomplish
                their
                obligations now assumed and to consummate the operations contemplated
                in
                the present Contract, having been taken all the necessary measures
                to the
                authorization and consummation of the operation object of this Contract,
                not being necessary, therefore, that be take additional measures
                to occur
                the signature and the formalization of that
                Contract

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	b)	
              Of
                the Non Violation. The
                consummation of the operation here contemplated won't constitute
                or it
                will result in the violation of any term, condition or disposition,
                nor
                will it constitute breach of contract of the terms,
                in
                agreement with any contract or other instrument that any of the BUYERS
                are
                part or interested party. That consummation either will violate any
                law,
                regulation, sentence, instruction or judicial order that forces the
                SALESPERSON.

            

    

     

    
      	
            	c)	
              Integral
                Disclosure.
                All the documents, contracts, instruments, certificates, warnings,
                consents, sworn declarations, letters, declarations, annexes (including,
                among other, the Annexes that constitute integral part of the present
                instrument) and other documents delivered by the BUYER, or in his
                name, to
                the SALESPERSONS or the person for her suitable with respect to the
                present Contract or to the operations in him contemplated are faithful,
                complete and authentic. No Document supplied by the BUYER, or in
                his name,
                to the SALESPERSONS or the person for her suitable by force of the
                present
                instrument or related to the operations in it contemplated contains
                untrue
                declarations, or it omits relevant facts whose disclosure in this
                instrument is compulsory or necessary so that the declarations now
                made
                don't turn false or induce to mistake, in the context find
                here.

            

    

    

    SECTION
      SIX

    AUDITING
      AND TECHNICAL OPINION

     

    6.1
      Starting from the present date and until the Closing Date, the SALESPERSONS
      will
      provide total and unrestricted access to the BUYER, to their lawyers and others
      advisors, to the Assets and will give to them, in the largest possible brevity,
      so that the BUYER can make an auditing and legal, accounting, technique and
      financial review of the Assets, of the IBR and of the Biodiesel Business, with
      the intention of verifying the precision of the Warranties and Declarations
      presented.

    

    SECTION
      SEVEN

    SOLIDARY
      RESPONSIBILITY AND COMPENSATION RIGHT

     

    7.1 The
      SALESPERSONS will answer solidary before BUYER for all and any values that
      was
      forced, such as tributes, fiscal contributions or related to Social Security
      and
      many, that by chance left of being paid by SALESPERSONS in the dates demanded
      by
      law, that were not provide in the IBR and relative to generating facts occurred
      previously to the Closing Date, as well as any obligation, contingent or not
      of
      civil nature, trade, labor, environmental, related to Social Security or fiscal
      of the SALESPERSONS or that have been for these assumed by legal and relative
      succession force to occurred facts or acts practiced previously to the Closing
      Date.

     

    7.2 The
      SALESPERSONS recognize and agree that any cost, expense, penalty, damage, loss,
      injury or responsibility of any nature or species (including interests,
      indexation, lawyer fees and judicial and administrative costs) incurred by
      BUYER
      due to the SALESPERSONS (i) having occurred Closing Date, rendered any
      Declaration and Warranty that it is not true, complete or correct; or, (B)
      disobeyed the current obligations of the Sections Ten and Eleven of the present
      Contract; they can be compensated and deduced against the parcels still pendants
      of the Acquisition Price.

     

    7.3 In
      case
      of the Closing Date doesn't occur because the auditing, the evaluation and
      the
      legal revision foreseen above verified that the declarations and warranties
      are
      not correct, or they are not complete nor satisfactory, in the terms of the
      Contract or that the debts or contingencies related to the Assets overcome
      those
      published in the terms of this Contract or of their enclosures, the BUYER and
      the SALESPERSONS should negotiate, in good faith, adjustments down or upward
      in
      the value of the parcels of the Acquisition Price. 

    

    7.4 The
      BUYER, in the case of verification of any value that wish the compensation
      by
      the SALESPERSONS of the Part of the Acquisition Price, in the terms of the
      previous clause, in having parcel of the Acquisition Price still due to
      SALESPERSONS, this payment will be suspended and BUYER should send notification
      to SALESPERSONS so that these, inside of the period of 15 (fifteen) days, show,
      in writing, in the sense of to agree or to disagree of such compensation. In
      the
      eventuality of the Salespersons to disagree with the compensation in subject,
      within 15 (fifteen) days, after the reception for BUYER of the respective
      manifestation, a meeting will be accomplished between the Parts so that them
      endeavor the best efforts to negotiate, in good faith, as the eventual
      contingencies, costs, expenses, fines in subject will be supported.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7.5 The
      obligations contemplated in this Section Seven and the Declarations and
      Warranties will subsist at the end of this Contract, staying in effect until
      the
      end of the period of prescription and decadence of each one of the respective
      obligations or in until 5 (five) counted years from the Closing Date, what
      last
      to happen.

    

    SECTION
      EIGTH

    INTERNAL
      MANAGEMENT

     

    8.1 Since
      the
      day of signature of this Contract, until the Closing Date or the end of this
      Contract, the Salespersons guarantee that the administration of IBR will be
      accomplished in a responsible way and maintaining the normal course of the
      activities of the company, not increasing the Debt of IBR (except in the
      necessary measure for the maintenance of the business) and executing all of
      the
      obligations of the normal course of the company, including to honor the
      expirations of debts and duties in the expiration dates, by Extraordinary
      Dispositions of Assets.

     

    8.2 Between
      the present date and the Closing Date or the end of this Contract, the IBR
      won't
      distribute nor will commit to distribute, and Shareholders won't practice any
      act nor they will guide IBR to distribute or they will assume any commitment
      to
      distribute, to give in or to burden, direct or indirectly, any of their assets,
      resources, including available funds the any title of the IBR, to the
      Shareholders, their related parts or third parties, except by Extraordinary
      Disposition of Assets.

    

    8.3 Between
      the present date and the Closing Date or the end of this Contract, the
      SALESPERSONS accept that the BUYER will participate, together with the
      SALESPERSONS, but without power of mismanagement, of negotiations of biodiesel
      sale, through direct sale or auctions, raw material purchase and obtaining
      of
      the Social Stamp for the enterprise.

    

    SECTION
      NINE

    PERIOD
      AND RESCISSION

     

    9.1 This
      Contract goes into effect in this date, and it will stay in total effect until
      the date that occur any of the following events (the "Period of Validity")
      first: (i) the effectuation of the operation here contemplated in the Closing
      Date or (ii) the not execution in a satisfactory way, at the BUYER criteria,
      of
      the Closing Conditions within 120 (hundred and twenty) days to count of the
      present date.

    

    9.2 The
      SALESPERSONS commit to endeavor their best efforts so that all the Closing
      Conditions are accomplished in the smallest period reasonably
      practicable.

    

    SECTION
      TEN

    EXCLUSIVITY,
      NON-CONCURRENCY

     

    10.1 SALESPERSONS,
      during the period of Validity, agree in negotiating in exclusiveness character
      with BUYER, the sale of the Assets (in the whole or partly), and they commit
      to
      not celebrate any relative contract to the Assets, not to emit any new shares
      of
      IBR, not to transfer any share that they have of IBR and, not to allow the
      constitution of any gravamen on the shares and on the businesses of the
      Salespersons, except those contemplated in this Contract. When of the Closing
      Date, and in consideration to the Acquisition Price, each SALESPERSON commits,
      without the need of any additional documentation, to abstain, direct or
      indirectly, of competing with IBR or with any of their related parts under
      any
      form for the period of five years to be counted from the Closing Date, in the
      markets explored by IBR. They are excepted of the obligation of no competition
      now made a pact in case Shareholders accomplish, after the defined period in
      10.2, their businesses out of a minimum radius of 300 km from the facilities
      of
      IBR.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    10.2 Until
      the
      Closing Date, the Shareholders and Mr. Hilton Morais Lima will celebrate a
      contract of technical advisory, in terms and conditions to be defined jointly,
      for which will commit to render advisory services related to the Businesses
      of
      Biodiesel with exclusiveness for the BUYER for a period of, at least, 12
      months.

    

    SECTION
      ELEVEN

    CONFIDENCIALITY

    

    11.1 Each
      Part
      should maintain secrecy on all of the obtained information of the other Part
      in
      relation to the present Contract that are not of public knowledge, don't have
      been known independently or developed, that has not been obtained with third
      parties or that are not of public knowledge because of non-compliance of the
      Part that has received (jointly the "Confidential Information") her. The
      Confidential Information (that can be oral, writing or magnetic, being
      designated or not as "confidential", and that included contact information
      and
      information regarding structures, negotiation methods or financial organization)
      only will be able to be used by the receiving Part in the effectuation of the
      transactions contemplated in this Contract and for none other purpose. In the
      hypothesis of rescission of this Contract, all of the documents (including
      the
      copies) obtained because of this Contract by one Part should be returned to
      the
      other pertinent Part, however, the confidentiality obligations and limitation
      to
      the use will stay in effect for the period of two years after the rescission
      date. Each Part commits to not publish and to maintain in secrecy the terms
      and
      conditions of this Contract, being included, but if not limiting to the
      compensation to be paid above, except if the disclosure of those information
      is
      demonstrated obligatory for the consummation of the purchase and sale
      contemplated in this Contract, disputed by any government authority, applicable
      law or regulate of the Stock Exchange to which the Part is submitted, or if
      she
      obtains the consent of all the other Parts listed. In the case of noncompliance
      of the obligations of this clause for one of the Parts, the non-compliance
      Part
      should compensate the other for loss and damages.

    

    SECTION
      TWELVE

    FINAL
      DISPOSITIONS 

     

    12.1 The
      Parts, in this act, expressly, agree with all the terms and conditions of the
      present Contract, having nothing to oppose to it, at any title and any time,
      assuming an obligation, to accomplish all of the acts and necessary formalities
      to the full and perfect formalization of the sale of the Shares and of the
      Assets now contracted, besides before all of the competent organs, signing
      contractual alterations and any other documents that become necessary for so
      much.

     

    12.2 The
      present Contract is signed of irrevocable and irretractable form, forcing the
      parts and their successors the any title.

     

    12.3 The
      present Contract cannot be amended or altered without the approval of all the
      parts, in writing, and, except for the cases expressly foreseen in this
      Contract, none of the Parts can give in or to transfer any of their rights
      and
      obligations originating from of this Contract, without the consent of the other
      Parts.

     

    12.4 The
      nullify, inefficacy or unachievable of any of the dispositions contained in
      this
      Contract, will not invalidate nor will turn inoperative or unachievable any
      of
      the other dispositions of the present Contract, which will continue in total
      effect. The Parts should negotiate the necessary measures to solve such
      dispositions of eventual existent addictions.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.5 All
      and
      any communications or notifications referred to the present instrument should
      be
      made in writing and sent to the Parts by letter registered with return warning,
      or for telefax for the addresses below discriminated:

     

    If
      to the
      SALESPERSONS:

     

    IBR
      INDÚSTRIA BRASILEIRA DE RESINAS LTDA.

    At.;
      Hilton Barbosa Lima

    Rua
      Lake
      Jackson, casa 210

    Salvador-BA,
      CEP 41.810-120

    Fax
      (71)
      3176-0800

     

    HBL
      PARTICIPAÇÕES E EMPREENDIMENTOS LTDA.

    At.:
      Hilton Barbosa Lima 

     Rua
      Alfazema, n° 761, Ed. Iguatemi Business & FI, Sala 501

     Salvador,
      BA, CEP: 41.820-710

    Fax
      (71)
      3176-0800

     

    HILTON
      BARBOSA LIMA

    Rua
      Lake
      Jackson, casa 210, 

    Salvador,
      BA, CEP 41.810-120

    Fax
      (71)
      3176-0800

     

    THIAGO
      BARBOSA LIMA

    Rua
      Lake
      Jackson, casa 208,

    Salvador,
      BA, CEP 41.810-150 

    Fax
      (71)
      3176-0800

    

    Vetor
      Consultoria

    At.
      Cássio Amaral

    R.
      Dr.
      José Peroba, n. 349, Ed. Empresarial Costa Azul, 8 andar

    Salvador,
      BA, CEP 41770-790

    Fax
      (71) 3272-0286

    

    If
      to the
      BUYER

     

    COMANCHE
      PARTICIPAÇÕES DO BRASIL LTDA.

    AT.:
      Ivo
      Tolesano Jr.

    Rua
      Funchal, 375, conjunto 81

    Vila
      Olímpia - 04551-060 São Paulo/SP

    Fax
      (11)
      3044-0342

    cc.
      MHMK
      - Sociedade de Advogados

    At.
      Byung
      Soo Hong

    Av,
      Brigadeiro Faria Lima, 1461, 12 andar

    Fax
      (11)
      3094-7820

     

    12.6 The
      execution of the obligations here contained is subject to the specific execution
      and can be demanded by the part in full performance in agreement with the
      Articles 461, 461A, 466A, 466B and 466C of the Code of Civil Process of Brazil
      (Law 5.869, January 11th,
      1973,
      as altered).

     

    12.7
       The
      present Contract should be governed and interpreted in agreement with the laws
      of the Federal Republic of Brazil.

     

    12.8 In
      the
      form of the Law n° 9.307/96, the Parts commit themselves to submit to the
      arbitration all and any litigations and controversies that can occur of the
      Interpretation and execution of the present Contract and that cannot be solved
      in a friendly way.

    

    
      	
            	12.8.1	
              The
                arbitration will be processed in the City and State of São Paulo, and will
                be driven by the Chamber of Commerce Brazil - Canada, in agreement
                with
                its respective regulation.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	12.8.2	
              Referees
                and Language of the Arbitration: The Parts agree that the arbitration
                will
                be driven by 3 (three) referees, and the litigations will be judged
                in
                agreement with the effective right rules in the Country. The arbitration
                will be driven in Portuguese.

            

    

     

    
      	
            	12.8.3	
              The
                final decision uttered by the referees will be definitive and will
                force
                the Parts, being banned to the Parts any resources to the Judiciary
                Power.
                The due Part will pay to the winner Part of the procedure by arbitration
                all of the costs and expenses incurred by the winner Part in relation
                to
                the arbitration, including lawyer’s fees, as defined in decision by
                arbitration, and the fees of the referees. The arbitration process
                should
                be ended, at maximum, in 6 (six) months to count from the indication
                of
                the referees.

            

    

     

    
      	
            	12.8.4	
              Independently
                of the determination in this Clause, it is guaranteed to any of the
                Parts
                the right of helping itself at the Judiciary Power to obtain precautionary
                measure the any time, to obtain protection premature case the procedure
                by
                arbitration still has not been instituted and, still, in other cases
                allowed by Chamber of Commerce Brazil - Canada Regulation.
                

            

    

     

    It
      is
      like this, for they be fair and contracted, the parts sign the present
      instrument in 02 (two) pages, of equal form and content, in the presence of
      the
      two witnesses below.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ANNEX
      A

     

    to
      the
PARTICULAR
      INSTRUMENT OF PURCHASE AND SALE AND OTHER AGREEMENTS

    

    Assets

    

    
      	
              PROCESS
                EQUIPMENT

            
	 
	
              Distillation
                column, with stuffing type Paul's Ring, in steel carbon, capacity
                10 m3
                and reboiler type Ketlle, still no installed;

            
	 
	
              Condenser
                skull and tubes, in steel carbon;

            
	 
	
              Pumps
                of positive displacement, capacity of 30 m3/h, with electric
                start;

            
	 
	
              Vases
                to homogenize, capacity of 5m3/h, with system of agitation of concentric
                shovels;

            
	 
	
              Structure
                metallic with three floors to shelter the unit of distillation and
                for
                support of the reactor and accessories, in beams of galvanized steel,
                profile type I, thickness of 12", with floor of plaid foil, thickness
                1/8", with area of 25 m2, and two levels, with total height of
                12m;

            
	 
	
              Piping
                group in steel carbon of 2" - 40 m;

            
	 
	
              Tanks
                for wash and purification of finished product, with capacity of 30
                m3
                each, fiberglass;

            
	 
	
              Retention
                column of heavy condensed, associated to the top of the reactor,
                in
                stainless steel, with shirt of cooling and stuffing of rings, type
                Poli
                Dimensions: high= 2,80 m; internal diameter = 0,30 m;

            
	 
	
              Condenser
                type skull (carbon steel) and tubes (stainless steel), with area
                of
                thermal change of approximately 30 m2, length of 2,5 m and 0,5m
                diameter;

            
	 
	
              Accumulation
                tank of having condensed, stainless steel, capacity of 1.000
                l;

            
	 
	
              Vacuum
                pump, capacity 220 m3/h, vacuous of 710 mm Hg, with motor of 15
                HP;

            
	 
	
              Group
                of accessories for system of vacuum: valves, tanks for water, vacuum
                meter, piping;

            
	 
	
              Filters,
                basket type, with screens in stainless steel, linked with piping
                and
                valves of 2", carbon steel, with gear pumps and motors of 10 HP,
                for
                pressure up to 5 Kgf/cm2;

            
	 
	
              Tank
                of storage of the melted raw material, capacity of 10 m3, carbon
                steel,
                with agitation started by motor and reducer;

            
	 
	
              Gear
                pump, for raw material transfer melted to the reactor, with piping
                and
                valves in carbon steel of 2";

            
	 
	
              Compressor
                of air, for instruments and valves, pressure of 12
                Kgf/cm2;

            
	 
	
              System
                of elevation of loads, for feeding of solids to the reactor, composed
                of
                structure metallic elevating type and electric cut with steel cables
                (maximum height = 10,0 m);

            
	 
	
              Reactor
                for 6,0 t of product, in stainless steel, complete, composed of column,
                condenser, separation vase, diluting vase,
                pump of circulation and accessories for process
                control;

            
	 
	
              Distillation
                column, with 16 m of height for 0,8 m of diameter, in steel carbon,
                with
                vase reboiler, condenser, dressing room of heat, pump of circulation
                and
                accessories for process control;

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Tank
                in steel carbon steel, with capacity for 163 m3;

            
	 
	
              Tank
                in carbon steel, with capacity for 60 m3;

            
	 
	
              Tank
                in carbon steel, with capacity for 135 m3.

            
	 
	
              UTILITIES
                

            
	 
	
              Tower
                for cooling water, with two centrifugal pumps, flow of 100 m3/h,
                pressure
                of 5.0 Kgf/cm2, with piping and valves, for cooling of process water
                from
                45° C to 30° C;

            
	 
	
              Heater
                of thermal fluid, for temperatures until 350 centigrade degrees and
                thermal capacity of 600,000 Kcal / h.

            
	 
	
              BUILDING

            
	 
	
              Immobile
                good to be dismembered of the located property in the Via da Penetração
                IV, Area of Light and Medium Industries, Lot 25, Industrial Center
                of
                Aratu, municipal District of Simões Filho, State of Bahia, with area of
                40,000 m2 or with enough area to install an industrial park with
                capacity
                of producing 100,000 tons of diesel a year and for stockpiling of
                20,000
                liters, what goes larger;

            
	 
	
              Group
                of materials and manpower for the building site of an unit with three
                floors of operation area, control room, administrative building,
                dining
                hall, parking, streets, watch towers of safety.

            
	 
	
              VEHICLE

            
	 
	
              Car;

            
	 
	
              Fork-lift.

            
	 
	
              LABORATORY
                

            
	 
	
              Setting
                up of a laboratory for analyses of attendance of the production,
                quality
                control of raw materials and finished
                products.

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