CORN PURCHASE AND SALE AGREEMENTCorn Purchase and Sale Agreement • January 19th, 2007 • Liberty Renewable Fuels LLC • Michigan
This Agreement is effective as of January 1, 2008, will have an initial term of four (4) years, renewing for twelve (12) month periods thereafter until terminated by either Party upon six (6) months written notice to the other Party . This Agreement may be terminated at any time by a mutual agreement in writing by both Parties. The Parties understand and agree that they intend to enter into a separate grain origination agreement by which BMI would originate grain from producers within BMI’s trade territory for delivery directly to the ethanol plant in Ithaca, Michigan and BMI would be paid an origination fee above the market price (an “Origination Agreement”). If by January 31, 2007, an Origination Agreement has not been executed, either Party may thereafter, but no later than July 1, 2007, deliver a written Termination Notice to the other Party which notifies the other Party that this Agreement will be terminated 30 days from the date of the Termination Notice.
