THIS IS A NON-BINDING RESERVATION AGREEMENT FOR THE PURPOSE OF ALLOWING BUYER TO RESERVE ONE OF MORE NOVACAB UNITS.
Confidential Proprietary Non-Binding Reservation Form
This Non-Binding Tri-Party Agreement, made this day of between:
On-Site-Energy.com, A Division of Dominion Development Group, LLC, an Authorized Distributor, “DISTRIBUTOR” and
the Manufacturer of the NOVACAB Products, “SELLER”, and
Customer’s Company Name: (BUYER) whose address and Corporate details are set forth hereinafter below; and
WHEREAS, BUYER is interested in reserving a yet to be determined number of NOVACAB Units to be delivered and installed on a date that is yet to be determined, and
WHEREAS, BUYER and SELLER have tentatively agreed to cooperate so that SELLER can engineer the NOVACAB Units and other green energy systems to meet the needs of BUYER, and
WHEREAS, BUYER and SELLER have tentatively agreed to a price of $1,250,000 per NOVACAB Unit for equipment only, not including shipping or installation, subject to approval of all specifications for said NOVACAB Units by all parties,
NOW THEREFORE, for and in consideration of BUYER making a refundable deposit in the amount of $2500, SELLER hereby agrees to reserve -NOVACAB 1-MW Units subject to BUYER’S sole discretion upon receipt of a formal proposal and engineering specifications, and
BUYER and SELLER will enter a formal agreement of sale which will spell out all terms, conditions and contingencies of the sale, including but not limited to financing, all of which shall be subject to BUYER’S approval.
In the event that SELLER and BUYER do not consummate an agreement of sale within 60days, then this Non-Binding Reservation Agreement shall be null and void, and all deposits which have been paid by BUYER shall be returned to the BUYER and there shall be no liability on the part of either party hereto.
This Non-Binding Reservation Agreement can be cancelled by Buyer or Seller at any time in which chase there shall be no liability on the part of either party hereto.
It is understood and agreed that the following Actions Steps will be pursued by the parties:
Site Assessment: Includes a physical inspection of the property and a written Report of Rough Order of Magnitude of Cost and Savings
Engineering: Design Proposal for System Customization. (Fee may apply for engineering work)
Formal Proposal to be generated with total investment requirements. Proposal to include anticipated energy cost savings.
Q&A Session with the Company’s Foremost Thermal Engineer.
Financing Methods to be reviewed and selected:
Conversion of Non-Binding Reservation Agreement into a Formal Purchase & License Agreement:
IN WITNESS WHEREOF, the parties have set their signatures on the date first above written.
For: On-Site-Energy.com, Agent
Larry Masi, President