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Title: |
Letter of Intent |
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Entities: |
One Earth Energy LLC |
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Date: |
2006 |
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Size: |
9KB total |
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Price: |
$38 |
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ID: |
#2262095 |
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Start of
Preview |
LETTER OF INTENT
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Date: |
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December 2, 2005 |
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Parties: |
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Fagen, Inc., a Minnesota Corporation, of Granite Falls, MN (Fagen) and One Earth Energy, LLC of Gibson City, Illinois (Owner) |
WHEREAS, Owner is an entity organized to facility the development and building of either a 50 MGY or a 100 MGY gas-fired fuel ethanol plant to be located near Gibson City, Illinois (the Facility or Project); and
WHEREAS, Fagen is an engineering and construction firm capable of providing development assistance, as well as designing and constructing the Facility being considered by Owner; and
NOW, THEREFORE, in consideration of the promises and mutual covenants set forth herein, Owner and Fagen agree to use best efforts in jointly developing this Project under the following terms:
1. Owner agrees that Fagen will Design-Build the Facility if determined by Owner to be feasible and if adequate financing is obtained. Should Owner choose to develop or pursue a relationship with a company other than Fagen to provide the preliminary engineering or design-build services for the project, then Owner shall reimburse Fagen for all expenses Fagen has incurred in connection with the Project based upon Fagens standard rate schedule plus all third party costs incurred from the date of this Letter of Intent. Such expenses include, but are not limited to, labor rates and reimbursable expenses such as legal charges for document review and preparation, travel expenses, reproduction costs, long distance phone costs, and postage. In the event Fagens services are terminated by Owner, title to the technical data, which may include preliminary engineering drawings and layouts and proprietary process related information, shall remain with Fagen; however, Owner shall, upon payment of the foregoing expenses, have the limited license to use the above described technical data, excluding proprietary process related information, for completing documentation required for construction, operation, repair and maintenance of the Project, at Owners sole risk.
Owner acknowledges that the technical data provided by Fagen under this Letter of Intent shall be preliminary and may not be suitable for construction and agrees that any use of such technical data without Fagens involvement shall be at Owners sole risk.
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