FIRST
AMENDMENT OF DEVELOPMENT AGREEMENT
THIS
FIRST AMENDMENT OF DEVELOPMENT AGREEMENT is effective as of
August 8, 2007, between Fuel Frontiers, Inc., a Nevada
corporation and Kentucky Fuel Associates, Inc., a Kentucky
corporation, collectively known as (the
“Parties”)
WHEREAS,
the Parties mutually agree to amend the Development Agreement
first entered into between the Parties on July 30,
2007:
NOW,
THEREFORE, in consideration of the premises contained herein
and other good and valuable consideration, the receipt and
legal sufficiency of which is hereby acknowledged, the Parties
hereby agree that the Development Agreement be and the same
hereby is amended as follows:
1.
Paragraph
1(D) of the Development Agreement is hereby amended and
restated in its entirety as follows:
“1.
D. KFA
shall provide FFI with an initial funding of two million dollars
($2,000,000.00) which said payment shall be tendered within 21 days
of the execution of this Agreement. If said funding is not
completed within the allotted time, KFA will, to the satisfaction
of FFI, provide evidence that complete funding is reasonably
expected and will indicate the date whereupon funding shall be
completed. Said funds shall be a
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