Exhibit 10.0
Feedstock Agreement
FEEDSTOCK AGREEMENT
This AGREEMENT is made this 3rd day of November, 2005 (the
"Effective
Date") by and between Future Fuels, Inc., a
Nevada corporation ("FFI") with
offices located in Washington, DC and Ocean
County Recycling Center, Inc., a New
Jersey Corporation (hereinafter called
"OCRC"), with offices located at 1497
Lakewood Road, Dover Township, Ocean
County, New Jersey.
BACKGROUND
WHEREAS, OCRC
currently operates a recycling center in Toms River New
Jersey and holds the rights, title, and
interest to New Jersey Department of
Environmental Protection, Division of Solid
& Hazardous Waste, Class B Recycling
Center Permit No. CBG040002, and;
WHEREAS, the NJDEP Permit authorizes OCRC to accept for recycling
up to
600 tons per day of assorted waste
materials at their Lot 26, Block 410 on the
Official Tax Map of the Township of Dover,
County of Ocean, and State of New
Jersey, location, more commonly known as
1497 Lakewood Road, Toms River, New
Jersey, and;
WHEREAS, FFI is a corporation and proposes to erect a 52 million
gallon
waste to ethanol recycling facility
("Production Facility") on a section of land
located within aforesaid the 1497 Lakewood
Road, tract of land, and;
WHEREAS, FFI desires to enter into an agreement with OCRC for
the
supply of waste streams, such as wood
waste, tires and any other wastes suitable
for the production of ethanol and/or other
products that may be produced at the
Production Facility, and;
NOW THEREFORE, in consideration of the mutual agreements
contained
herein, the parties agree as follows:
1. Covenants of OCRC. OCRC hereby agrees to continue current
operations
by accepting for recycling waste streams
such as, tires, trash, wood wastes,
agricultural byproducts, and all other
carbonaceous wastes authorized for
recycling by the NJDEP Permit and
consistent with other municipal, state, and
federal regulations, if any, and agrees to
use its best efforts to secure
contracts with suppliers that contractually
guarantees an ongoing daily supply
of suitable waste streams to FFI at the
Production Facility that is commensurate
with FFI's daily requirements as identified
herein.
1.1 Quantity. FFI estimates that it will require approximately
117,000 to165,000 tons of waste streams per year for 24/7
operations,
based upon a 340 days per year operating schedule, and OCRC
hereby
covenants to supply FFI with a minimum of 117,000 tons per year,
and up
to 165,000 tons per year, of waste streams suitable for the
production
of ethanol through their ongoing operations and/or through OCRC
contracts with outside suppliers for so long as FFI is operating
24/7
based upon 340 days per year.
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1.2 Waste Stream Supply. OCRC shall maintain responsibility
for all costs related to incoming waste streams, inclusive of
its
transportation,
receipt, weighing, handling, sorting and conveying same
to the FFI plant site at no cost to FFI. OCRC and FFI agree that
the
principle goal is to deliver high carbon content feedstock to FFI
that
requires no extraordinary preparation or processing by FFI. OCRC
and
FFI shall consult, on an ongoing basis, to develop a waste
stream
profile identifying the optimum feedstock supply for the operation
of
the plant. For guidance, the preferred feedstock is passenger and
truck
tires.
It is hereby understood that FFI shall have the onsite
capacity to process the waste streams supplied by OCRC for
utilization
in the waste to ethanol process; however, certain oversized
waste
materials may exceed FFI's processing capacity and require
processing
by OCRC. Upon such an occurrence, OCRC shall be entitled to collect
a
fair market processing fee from FFI, currently estimated at $14.00
per
ton, for the processing of said o
