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40 <br />PURCHASE AGREEMENT <br />This agreement, made as of the 1st day of September 1999, by and between Paper Stock <br />Dealers, Inc., 1417 Atlanta Avenue, Orlando, Florida, hereinafter called "Buyer" and <br />Indian River County Solid Waste Disposal District, 1325 SW 74th Avenue, Vero Beach, <br />Florida, hereinafter called the "Seller." <br />Buyer desires to purchase from tate Seller, and the Seller desires to sell to Buyer recyclable <br />materials hereinafter called "corrugated cardboard." <br />IT IS AGREED AS FOLLOWS; <br />1. Quantity - The Seller agrees to sell to Buyer and Buyer agrees to purchase from the <br />Seller all corrugated cardboard of the quality hereinafter specified, generated by the Seller. <br />A ton %*rill consist of 2,000 pounds. <br />2. Quality - The corrugated cardboard shall meet specifications for clean waste corrugated <br />cardboard boxes of Grade PS 93 #11: this Grade consists of baled corrugated cardboard <br />containers having liners of either test liner, jute or kraft. Total outthrows (other paper <br />categories) may not exceed 5%. <br />3. Term - the term of this agreement shall be for a period of 1 year from the date of the <br />signature of the SWDD board chairman. <br />4. Price - the price to be paid by the Buyer per ton of corrugated cardboard shall be the <br />sum of the following components: <br />a. Price shall be per ton picked up by the Buyer, at the Buyer's expense with the <br />Buyer's vehicles, at the Seller's above specified location. <br />b. Price for corrugated cardboard (f.o.b. Seller's dock for Grade 11 Corrugated) <br />sold hereinunder shall be the High Yellow, second weekly edition of the month of the <br />Official Board Market (Yellow Sheet), Southeastern market price for medium density bales <br />(appruxititaiciy 1,000 puwiiis) per iraiier ivad. <br />c. Payment shall be made to the Seller no later than the 26th day of every month <br />for the corrugated cardboard purchased for the preceding month. <br />d. Payment will be based on weights shown in the Seller's weight tickets generated <br />by its scales. Copies of said weight tickets shall be submitted with the monthly check. <br />In the event any of all corrugated cardboard ceases to have a market for a period of 30 <br />days, the Buyer will have the option of disposing of said recyclable at its own expense, and <br />MUST inform the Seller thereof. <br />4a <br />