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T 1010 Hoyt Ave . 3030 Reynolds Rd . ' rW P** "��' '�� '" "� Ridgefield , NJ 07657 Lakeland , FL 33803 If %MO L= LM IN LM %0/ / 1 T: (201 ) 943-7142 T : (863) 665-3755 p The E n v i r- o n ni e ra t Savers F : (201 ) 943-6928 F : (863) 665-3866 EPS PROCESSING EQUIPMENT AND OUTPUT PRODUCTION AND SUB - LEASE AGREEMENT THIS AGREEMENT is entered into by and between the following entities on the day of ( Effective Date ) : RecycleTech Corp . (" RecycleTech") , having a principal office at : Address : 1010 Hoyt Ave . Ridgefield , NJ 07657 Telephone : (201 ) 943-7142 Fax : (201 ) 943-6928 Indian River County Solid Waste Disposal District ("Operator" ) , having offices at : Address : 132574 th Ave . S .W . Vero Beach , FL 32968 Telephone : (772 ) 770-5112 Fax : (772 ) 770-5296 Purpose of Agreement RecycleTech has the lawful authority to place an EPS Extruding Machine (" Extruding Machine" ) that permits the melting of Expanded Polystyrene (" EPS" ) , through a method known as the EPS Heated Extruding Process via a grant awarded by the State of Florida . Operator desires to obtain , via the grant and at the sole discretion of RecycleTech an Extruding Machine to densify all its EPS packaging materials waste , byproducts of its operations . RecycleTech requires that Operator sells , exclusively, to RecycleTech its entire production of Extruded EPS Material during the term of this Agreement. Operator is willing to sell to RecycleTech its entire production of Extruded EPS Material , provided RecycleTech pays Operator the agreed upon compensation and further provided RecycleTech agrees to buy all of Operator's production of Extruded EPS Material produced throughout the term of this Agreement . In accordance with the terms and conditions of the grant, the machine must and always remain in the State of Florida . The terms and conditions of the original grant/lease with Polk County and the State of Florida remain in effect and are not superseded by this sub-lease agreement . Additionally, operator is responsible for submitting a monthly report to RecycleTech for submission to the state . The report format and instructions for submission will be provided prior to installation . IN CONSIDERATION of the mutual promises herein , both parties intending to be legally bound , it is mutually agreed by and between the parties as follows : 1 . Duration of Agreement. This Agreement shall commence upon the 1st day of October, 2008 and shall terminate on the 30th day of September, 2011 , unless sooner terminated by other provisions in this Agreement . Upon completing a three year term , RecycleTech agrees to transfer ownership of the machine to the Operator for a nominal fee , estimated to be less than $ 100 . 2 . Equipment and Services . RecycleTech shall provide , for the agreed upon compensation listed below, one complete EPS Extruding Machine capable of meeting