Common use of SUBSTITUTION OF PURCHASER Clause in Contracts

SUBSTITUTION OF PURCHASER. 41 -iii- SECTION 23. MISCELLANEOUS....................................................... 41 Section 23.1. Successors and Assigns.............................................. 41 Section 23.2. Payments Due on Non-Business Days................................... 41 Section 23.3. Severability........................................................ 41 Section 23.4. Construction........................................................ 41 Section 23.5. Counterparts........................................................ 41 Section 23.6. Governing Law....................................................... 42 -iv- SCHEDULE A -- INFORMATION RELATING TO PURCHASERS SCHEDULE B -- DEFINED TERMS SCHEDULE 5.4 -- Subsidiaries of the Company, Ownership of Subsidiary Stock SCHEDULE 5.5 -- Financial Statements SCHEDULE 5.8 -- Litigation; Observance of Statutes and Orders SCHEDULE 5.11 -- Licenses, Permits, Etc. SCHEDULE 5.15 -- Existing Indebtedness SCHEDULE 10.4 -- Existing Liens EXHIBIT 1(a) -- Form of 3.74% Senior Note, Series A due July 28, 2007 EXHIBIT 1(b) -- Form of 4.61% Senior Note, Series B due July 28, 2010 EXHIBIT 1(c) -- Form of 5.12% Senior Note, Series C, due July 28, 2014 EXHIBIT 1(d) -- Form of 5.67% Senior Note, Series D, due July 28, 2016 EXHIBIT 2.2 -- Form of Subsidiary Guaranty. EXHIBIT 4.4(a) -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to the Company and the Issuer EXHIBIT 4.4(b) -- Form of Opinion of Special Counsel to the Purchasers XXX XXXXX FARMS, INC. 0000 X. XXXX XXXXXX XXXXXXXX, XXXX 00000 AND BEF HOLDING CO., INC. C/O XXX XXXXX FARMS, INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX, XXXXXXXX 00000 $30,000,000 3.74% SENIOR NOTES, SERIES A, DUE JULY 28, 2007 $40,000,000 4.61% SENIOR NOTES, SERIES B, DUE JULY 28, 2010 $95,000,000 5.12% SENIOR NOTES, SERIES C, DUE JULY 28, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY 28, 2016 Dated as of July 28, 2004 TO THE PURCHASERS LISTED IN THE ATTACHED SCHEDULE A: Ladies and Gentlemen: XXX XXXXX FARMS, INC., a Delaware corporation (the "Company"), and BEF HOLDING CO., INC., a Delaware corporation (the "Issuer"), hereby jointly and severally agree with you as follows:

SUBSTITUTION OF PURCHASER. 41 -iii- 39 SECTION 2322. MISCELLANEOUS....................................................... 41 ........................................................................................39 Section 23.122.1. Successors and Assigns.............................................. 41 ...........................................................................39 Section 23.222.2. Payments Due on Non-Business Days................................... 41 ................................................................39 Section 23.322.3. Severability........................................................ 41 .....................................................................................40 Section 23.422.4. Construction........................................................ 41 .....................................................................................40 Section 23.522.5. Counterparts........................................................ 41 .....................................................................................40 Section 23.622.6. Governing Law....................................................... 42 -iv- ....................................................................................40 Signatures......................................................................................................................40 SCHEDULE A -- INFORMATION RELATING TO PURCHASERS SCHEDULE B -- DEFINED TERMS SCHEDULE 5.1 -- Ownership of Company SCHEDULE 5.3 -- Disclosure Materials SCHEDULE 5.4 -- Subsidiaries of the Company, Company and Ownership of Subsidiary Stock Equity Interest SCHEDULE 5.5 -- Financial Statements SCHEDULE 5.8 -- Litigation; Observance of Statutes and Orders Certain Litigation SCHEDULE 5.11 -- LicensesPatents, Permits, Etcetc. SCHEDULE 5.14 -- Use of Proceeds SCHEDULE 5.15 -- Existing Indebtedness SCHEDULE 10.4 -- Existing and Liens EXHIBIT 1(a) 1-A -- Form of 3.74% Senior Note, Series A due July 28, 2007 Note EXHIBIT 1(b) 1-B -- Form of 4.61% Senior Note, Series B due July 28, 2010 Note EXHIBIT 1(c) 1-C -- Form of 5.12% Senior Note, Series C, due July 28, 2014 C Note EXHIBIT 1(d) 1-D -- Form of 5.67% Senior Note, Series D, due July 28, 2016 D Note EXHIBIT 2.2 1-E -- Form of Subsidiary Guaranty. Series E Note EXHIBIT 4.4(a) -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to for the Company and the Issuer EXHIBIT 4.4(b) -- Form of Opinion of Special Counsel to for the Purchasers XXX XXXXX FARMSEXHIBIT 10.1 -- Subordination Provisions Applicable to Subordinated Debt FERRELLGAS, INC. 0000 X. XXXX XXXXXX XXXXXXXXL.P. Xxx Xxxxxxx Xxxxx Xxxxxxx, XXXX 00000 AND BEF HOLDING CO., INC. C/O XXX XXXXX FARMS, INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX, XXXXXXXX Xxxxxxxx 00000 $30,000,000 3.74109,000,000 6.99% SENIOR NOTESSenior Notes, SERIES Series A, DUE JULY 28due August 1, 2007 2005 $40,000,000 4.6137,000,000 7.08% SENIOR NOTESSenior Notes, SERIES Series B, DUE JULY 28due August 1, 2006 $52,000,000 7.12% Senior Notes, Series C, due August 1, 2008 $82,000,000 7.24% Senior Notes, Series D, due August 1, 2010 $95,000,000 5.1270,000,000 7.42% SENIOR NOTESSenior Notes, SERIES CSeries E, DUE JULY 28due August 1, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY 28, 2016 2013 Dated as of July 281, 2004 1998 TO EACH OF THE PURCHASERS LISTED IN THE ATTACHED SCHEDULE A: Ladies and Gentlemen: XXX XXXXX FARMSFERRELLGAS, INC.L.P., a Delaware corporation limited partnership (the "Company"), and BEF HOLDING CO., INC., a Delaware corporation (agrees with the "Issuer"), hereby jointly and severally agree with you Purchasers listed in the attached Schedule A as follows:

SUBSTITUTION OF PURCHASER. 41 -iii- 37 SECTION 2322. MISCELLANEOUS....................................................... 41 ......................................... 37 Section 23.122.1. Successors and Assigns.............................................. 41 ................................ 37 Section 23.222.2. Payments Due on Non-Business Days................................... 41 ..................... 37 Section 23.322.3. Severability........................................................ 41 .......................................... 37 Section 23.422.4. Construction........................................................ 41 .......................................... 38 Section 23.522.5. Counterparts........................................................ 41 .......................................... 38 Section 23.622.6. Governing Law....................................................... 42 -iv- ......................................... 38 Section 22.7. Submission to Jurisdiction............................ 38 Signature............................................. 39 (Schedules and Exhibits to this loan agreement are not included in this filing.) SCHEDULE A -- INFORMATION RELATING TO PURCHASERS - Information Relating to Purchasers SCHEDULE B -- DEFINED TERMS - Defined Terms SCHEDULE 5.3 - Disclosure Materials SCHEDULE 5.4 -- - Subsidiaries of the Company, Company and Ownership of Subsidiary Stock SCHEDULE 5.5 -- - Financial Statements SCHEDULE 5.8 -- Litigation; Observance 5.14 - Use of Statutes and Orders SCHEDULE 5.11 -- Licenses, Permits, Etc. Proceeds SCHEDULE 5.15 -- - Existing Indebtedness SCHEDULE 10.4 -- Existing Liens Debt EXHIBIT 1(a) -- 1-A - Form of 3.746.39% Senior Note, Series A A, due July 28April 1, 2007 EXHIBIT 1(b) -- 1-B - Form of 4.616.62% Senior Note, Series B due July 28, 2010 EXHIBIT 1(c) -- Form of 5.12% Senior Note, Series CB, due July 28April 1, 2014 EXHIBIT 1(d) -- Form of 5.67% Senior Note, Series D, due July 28, 2016 EXHIBIT 2.2 -- Form of Subsidiary Guaranty. 2008 EXHIBIT 4.4(a) -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to the Company and the Issuer EXHIBIT 4.4(b) -- - Form of Opinion of Special Counsel to for the Company EXHIBIT 4.4(b) - Form of Opinion of General Counsel for the Company EXHIBIT 4.4(c) - Form of Opinion of Special Counsel for the Purchasers XXX XXXXX FARMSMEREDITH CORPORATION 1716 Locust Strxxx Des Moines, INC. 0000 X. XXXX XXXXXX XXXXXXXXIowa 50000 $00,000,000 0.00% Xxxxxx Xxxxx, XXXX 00000 AND BEF HOLDING CO.Xxxxxx X, INC. C/O XXX XXXXX FARMS, INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX, XXXXXXXX 00000 $30,000,000 3.74% SENIOR NOTES, SERIES A, DUE JULY 28Xxx Xxxxx 0, 2007 $40,000,000 4.6150,000,000 6.62% SENIOR NOTESSenior Notes, SERIES Series B, DUE JULY 28Due April 1, 2010 $95,000,000 5.12% SENIOR NOTES, SERIES C, DUE JULY 28, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY 28, 2016 2008 Dated as of July 28April 1, 2004 2002 TO THE PURCHASERS PURCHASER LISTED IN THE ATTACHED SCHEDULE AA WHO IS A SIGNATORY HERETO: Ladies and Gentlemen: XXX XXXXX FARMSMEREDITH CORPORATION, INC., a Delaware an Iowa corporation (the "Company"), and BEF HOLDING CO., INC., a Delaware corporation (the "Issuer"), hereby jointly and severally agree with you agrees wxxx xxx as follows:

SUBSTITUTION OF PURCHASER. 41 -iii- SECTION 2322. MISCELLANEOUS....................................................... 41 ................................................ 42 Section 23.122.1. Successors and Assigns.............................................. 41 ................................. 42 Section 23.222.2. Payments Due on Non-Business Days................................... 41 ...................... 42 Section 23.322.3. Accounting Terms....................................... 42 Section 22.4. Severability........................................................ 41 ........................................... 42 Section 23.422.5. Construction........................................................ 41 , Etc...................................... 42 Section 23.522.6. Counterparts........................................................ 41 ........................................... 42 Section 23.622.7. Governing Law....................................................... 42 -iv- .......................................... 43 Section 22.8. Waiver of Jury Trial................................... 43 Signature................................................................ 44 SCHEDULE A -- INFORMATION RELATING TO PURCHASERS SCHEDULE B -- DEFINED TERMS SCHEDULE 5.3 -- Disclosure Materials SCHEDULE 5.4 -- Subsidiaries of the Company, Company and Ownership of Subsidiary Stock SCHEDULE 5.5 -- Financial Statements SCHEDULE 5.8 -- Litigation; Observance of Statutes and Orders SCHEDULE 5.11 -- Licenses, Permits, Etc. SCHEDULE 5.15 -- Existing Indebtedness SCHEDULE 10.4 Debt EXHIBIT 1 -- Existing Liens Form of 6.12% Senior Note due April 28, 2016 EXHIBIT 1(a2.2(a) -- Form of 3.74% Senior Note, Series A due July 28, 2007 Subsidiary Guaranty EXHIBIT 1(b2.2(b) -- Form of 4.61% Senior Note, Series B due July 28, 2010 EXHIBIT 1(c) -- Form of 5.12% Senior Note, Series C, due July 28, 2014 EXHIBIT 1(d) -- Form of 5.67% Senior Note, Series D, due July 28, 2016 EXHIBIT 2.2 -- Form of Subsidiary Guaranty. Intercreditor Agreement EXHIBIT 4.4(a) -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to for the Company and the Issuer EXHIBIT 4.4(b) -- Form of Opinion of Special Counsel to for the Purchasers XXX XXXXX XXXXXXXXX FARMS, INC. 0000 X. 000 XXXXX XXXX XXXXXX XXXXXXXXLAUREL, XXXX 00000 AND BEF HOLDING CO., INC. C/O XXX XXXXX FARMS, INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX, XXXXXXXX 00000 $30,000,000 3.74MISSISSIPPI 39443 6.12% SENIOR NOTES, SERIES A, DUE JULY 28, 2007 $40,000,000 4.61% SENIOR NOTES, SERIES B, DUE JULY 28, 2010 $95,000,000 5.12% SENIOR NOTES, SERIES C, DUE JULY 28, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY Senior Notes due April 28, 2016 Dated as of July April 28, 2004 2006 TO EACH OF THE PURCHASERS LISTED IN THE ATTACHED SCHEDULE AA HERETO: Ladies and Gentlemen: XXX XXXXX XXXXXXXXX FARMS, INC., a Delaware Mississippi corporation (the "Company"), and BEF HOLDING CO., INC.agrees with each of the purchasers whose names appear at the end hereof (each, a Delaware corporation ("Purchaser" and, collectively, the "IssuerPurchasers"), hereby jointly and severally agree with you ) as follows:

SUBSTITUTION OF PURCHASER. 41 -iii- 49 SECTION 23. MISCELLANEOUS....................................................... 41 ......................................................................... 49 Section 23.1. Successors and Assigns.............................................. 41 ................................................................ 49 Section 23.2. Payments Due on Non-Business Days................................... 41 ..................................................... 49 Section 23.3. Severability........................................................ 41 .......................................................................... 50 Section 23.4. Construction........................................................ 41 .......................................................................... 50 Section 23.5. Counterparts........................................................ 41 .......................................................................... 50 Section 23.6. Governing Law....................................................... 42 -iv- ......................................................................... 50 Section 23.7. Submission to Jurisdiction............................................................ 50 Signature..................................................................................................... 51 SCHEDULE A -- INFORMATION RELATING TO PURCHASERS Information Relating To Purchasers SCHEDULE B -- DEFINED TERMS Defined Terms SCHEDULE 5.4 4.10 -- Changes in Corporate Structure SCHEDULE 5.1.3 -- Disclosure Materials SCHEDULE 5.1.4 -- Subsidiaries of the Company, Company and Ownership of Subsidiary Stock SCHEDULE 5.5 5.1.5 -- Financial Statements SCHEDULE 5.8 5.1.8 -- Litigation; Observance of Statutes and Orders Certain Litigation SCHEDULE 5.11 5.1.11 -- Licenses, Permits, Etcetc. SCHEDULE 5.15 5.1.14 -- Use of Proceeds SCHEDULE 5.1.15 -- Existing Indebtedness SCHEDULE 10.4 -- Existing Liens Debt EXHIBIT 1(a) 1-A -- Form of 3.743.73% Senior Guaranteed Note, Series A A, due July 28June 27, 2007 2008 EXHIBIT 1(b) 1-B -- Form of 4.614.33% Senior Guaranteed Note, Series B B, due July 28June 27, 2010 EXHIBIT 1(c) -- Form of 5.12% Senior Note, Series C, due July 28, 2014 EXHIBIT 1(d) -- Form of 5.67% Senior Note, Series D, due July 28, 2016 EXHIBIT 2.2 -- Form of Subsidiary Guaranty. EXHIBIT 4.4(a) -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to the Company and the Issuer EXHIBIT 4.4(b4.5(a) -- Form of Opinion of Special Counsel to for the Parent Corporation and the Company EXHIBIT 4.5(b) -- Form of Opinion of Special Counsel for the Purchasers XXX XXXXX FARMS, INC. 0000 X. XXXX XXXXXX XXXXXXXX, XXXX 00000 AND BEF HOLDING SWIFT TRANSPORTATION CO., INC. C/O XXX XXXXX FARMS., an Arizona corporation SWIFT TRANSPORTATION CO., INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX., XXXXXXXX a Nevada corporation 2200 75TH AVENUE PHOENIX, AXXXXXX 00000 ----------------------------- $30,000,000 3.74100,000,000 3.73% SENIOR NOTESSenior Guaranteed Notes, SERIES Series A, DUE JULY 28Due June 27, 2007 2008 $40,000,000 4.61100,000,000 4.33% SENIOR NOTESSenior Guaranteed Notes, SERIES Series B, DUE JULY 28Due June 27, 2010 $95,000,000 5.12% SENIOR NOTES, SERIES C, DUE JULY 28, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY 28, 2016 Dated as of July 28June 27, 2004 2003 TO THE PURCHASERS LISTED IN THE ATTACHED SCHEDULE A: Ladies and Gentlemen: XXX XXXXX FARMSSWIFT XXXXXXXRTATION CO., INC., a Delaware an Arizona corporation (the "Company"), and BEF HOLDING CO.Swift Transportation Co., INC.Inc., a Delaware Nevada corporation (the "IssuerParent Corporation"), hereby jointly and severally agree with you the Purchasers listed in the attached SCHEDULE A (the "Purchasers") to this Note Purchase Agreement (as amended or supplemented from time to time, this "Agreement") as follows:

SUBSTITUTION OF PURCHASER. 41 -iii- SECTION 2339 22. MISCELLANEOUS....................................................... 41 Section 23.1............................................................39 22.1. Successors and Assigns.............................................. 41 Section 23.2............................................39 22.2. Payments Due on Non-Business Days................................... 41 Section 23.3.................................40 22.3. Severability........................................................ 41 Section 23.4......................................................40 22.4. Construction........................................................ 41 Section 23.5......................................................40 22.5. Counterparts........................................................ 41 Section 23.6......................................................40 22.6. Governing Law....................................................... 42 -iv- .....................................................40 SCHEDULE A -- INFORMATION RELATING TO PURCHASERS Information Relating To Purchasers SCHEDULE B -- DEFINED TERMS Defined Terms SCHEDULE 5.3 -- Disclosure Materials SCHEDULE 5.4 -- Subsidiaries of the Company, Company and Ownership of Subsidiary Stock SCHEDULE 5.5 -- Financial Statements SCHEDULE 5.8 -- Litigation; Observance of Statutes and Orders Certain Litigation SCHEDULE 5.11 -- LicensesPatents, Permits, Etcetc. SCHEDULE 5.14 -- Use of Proceeds SCHEDULE 5.15 -- Existing Indebtedness SCHEDULE 10.4 10.9 -- Existing Restricted Investments SCHEDULE 10.11 -- Liens EXHIBIT 1(a) 1.2 -- Form of 3.747.39% Guaranteed Senior NoteNote due October 1, Series A due July 28, 2007 2005 EXHIBIT 1(b) -- Form of 4.61% Senior Note, Series B due July 28, 2010 EXHIBIT 1(c) -- Form of 5.12% Senior Note, Series C, due July 28, 2014 EXHIBIT 1(d) -- Form of 5.67% Senior Note, Series D, due July 28, 2016 EXHIBIT 2.2 4.11 -- Form of Subsidiary Guaranty. Guaranty EXHIBIT 4.4(a) 4.12 -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to the Company and the Issuer Intercreditor Agreement EXHIBIT 4.4(b) 9.6 -- Form of Opinion of Special Counsel to the Purchasers XXX XXXXX FARMSParent Guarantee COVENANT ASSET MANAGEMENT, INC. 0000 X. XXXX 000 XXXXXX XXXXXXXXXXXX, XXXX 00000 AND BEF HOLDING CO.SUITE 390 RENO, INC. C/O XXX XXXXX FARMSNEVADA 89509 7.39% GUARANTEED SENIOR NOTES DUE OCTOBER 1, INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX2005 Dated December 13, XXXXXXXX 00000 $30,000,000 3.74% SENIOR NOTES, SERIES A, DUE JULY 28, 2007 $40,000,000 4.61% SENIOR NOTES, SERIES B, DUE JULY 28, 2010 $95,000,000 5.12% SENIOR NOTES, SERIES C, DUE JULY 28, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY 28, 2016 Dated as of July 28, 2004 2000 TO EACH OF THE PURCHASERS LISTED IN THE ATTACHED SCHEDULE A: Ladies and Gentlemen: XXX XXXXX FARMSReference is made to the Note Purchase Agreement (the "Original Agreement") dated as of May 15, INC.2000 among Covenant Asset Management, Inc., a Delaware Nevada corporation (the "Company"), and BEF HOLDING CO.Covenant Transport, INC.Inc., a Delaware Nevada corporation (the "IssuerParent"), hereby jointly and severally agree you pursuant to which $25,000,000 aggregate principal amount of the Company's 7.39% Guaranteed Senior Notes due October 1, 2005 (the "Notes", such term to include any such notes issued in substitution therefor pursuant to Section 13 of this Agreement) were issued and presently are outstanding. You are the holder of Notes in the aggregate principal amount set forth opposite your name in the attached Schedule A. You, together with any assignee or transferee, are sometimes referred to herein individually as a "Holder" or "Purchaser" and collectively with the other purchasers named in Schedule A (the "Other Purchasers") as the "Holders" or the "Purchasers". Each of the Company and the Parent agrees with you as follows:

SUBSTITUTION OF PURCHASER. 41 40 -iii- SECTION 2322. MISCELLANEOUS....................................................... 41 ........................................... 40 Section 23.122.1. Successors and Assigns.............................................. 41 .................................. 40 Section 23.222.2. Payments Due on Non-Business Days................................... ....................... 40 Section 22.3. Severability............................................ 40 Section 22.4. Construction............................................ 40 Section 22.5. Counterparts............................................ 41 Section 23.3. Severability........................................................ 41 Section 23.4. Construction........................................................ 41 Section 23.5. Counterparts........................................................ 41 Section 23.622.6. Governing Law....................................................... ........................................... 41 Signature................................................................ 42 -iv- SCHEDULE A -- INFORMATION RELATING TO PURCHASERS SCHEDULE B -- DEFINED TERMS SCHEDULE 2.2(a) -- Subsidiary Guarantors SCHEDULE 4.9 -- Changes in Corporate Structure SCHEDULE 5.4 -- Subsidiaries of the Company, Company and Ownership of Subsidiary Stock SCHEDULE 5.5 -- Financial Statements SCHEDULE 5.8 -- Litigation; Observance of Statutes and Orders SCHEDULE 5.11 -- Licenses, PermitsPatents, Etc. SCHEDULE 5.14 -- Use of Proceeds SCHEDULE 5.15 -- Existing Indebtedness SCHEDULE 10.4 10.6 -- Existing Liens EXHIBIT 1(a) -- Form of 3.745.28% Senior Note, Series A G, due July 28August 25, 2007 2015 EXHIBIT 1(b) -- Form of 4.615.38% Senior Note, Series B H, due July 28August 25, 2010 2017 EXHIBIT 1(c) -- Form of 5.125.49% Senior Note, Series CI, due July 28August 25, 2014 2020 EXHIBIT 1(d2.2(a) -- Form of 5.67% Senior Note, Series D, due July 28, 2016 Subsidiary Guaranty EXHIBIT 2.2 2.2(c) -- Form of Subsidiary Guaranty. Intercreditor Agreement EXHIBIT 4.4(a) -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to for the Company and the Issuer EXHIBIT 4.4(b) -- Form of Opinion of Special Counsel to for the Purchasers XXX XXXXX FARMSTHE ST. JOE COMPANY 245 RIVERSIDE AVENUE, INC. 0000 X. XXXX XXXXXX XXXXXXXXSUITE 500 JACKSONVILXX, XXXX 00000 AND BEF HOLDING CO., INC. C/O XXX XXXXX FARMS, INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX, XXXXXXXX XXXXXXX 00000 $30,000,000 3.7400,000,000 0.00% SENIOR NOTESXxxxxx Xxxxx, SERIES AXxxxxx X, DUE JULY 28xxx Xxxxxx 00, 2007 2015 $40,000,000 4.6165,000,000 5.38% SENIOR NOTESSenior Notes, SERIES BSeries H, DUE JULY 28due August 25, 2010 2017 $95,000,000 5.1220,000,000 5.49% SENIOR NOTESSenior Notes, SERIES CSeries I, DUE JULY 28due August 25, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY 28, 2016 2020 Dated as of July 28August 25, 2004 2005 TO THE PURCHASERS PURCHASER LISTED IN THE ATTACHED SCHEDULE AA WHO IS A SIGNATORY HERETO: Ladies and Gentlemen: XXX XXXXX FARMS, INC.THE ST. JOE COMPANY, a Delaware Florida corporation (the "Company"), and BEF HOLDING CO., INC., a Delaware corporation (the "Issuer"), hereby jointly and severally agree agrees with you as followsax xollows:

SUBSTITUTION OF PURCHASER. 41 -iii- SECTION 2336 22. MISCELLANEOUS....................................................... 41 Section 23.1...........................................................36 22.1. Successors and Assigns.............................................. 41 Section 23.2............................................36 22.2. Payments Due on Non-Business Days................................... 41 Section 23.3.................................36 22.3. Severability........................................................ 41 Section 23.4......................................................36 22.4. Construction........................................................ 41 Section 23.5......................................................37 22.5. Counterparts........................................................ 41 Section 23.6......................................................37 22.6. Governing Law....................................................... 42 -iv- .....................................................37 SCHEDULE A -- INFORMATION RELATING TO PURCHASERS Information Relating to Purchasers SCHEDULE B -- DEFINED TERMS Defined Terms SCHEDULE B-1 -- Existing Investments SCHEDULE 5.4 -- Subsidiaries of the Company, Company and Ownership of Subsidiary Stock SCHEDULE 5.5 -- Financial Statements SCHEDULE 5.8 -- Litigation; Observance of Statutes and Orders SCHEDULE 5.11 -- Licenses, Permits, Etc. SCHEDULE 5.15 -- Existing Indebtedness SCHEDULE 10.4 10.2 -- Existing Liens EXHIBIT 1(a1.1-A -- Form of Senior Note EXHIBIT 1.1-B -- Form of Supplement EXHIBIT 1.2(a) -- Form of 3.74% Series 1998-A, Tranche 1, Senior Note, Series A due July 28, 2007 Note EXHIBIT 1(b1.2(b) -- Form of 4.61% Series 1998 -A, Tranche 2, Senior Note, Series B due July 28, 2010 EXHIBIT 1(c) -- Form of 5.12% Senior Note, Series C, due July 28, 2014 EXHIBIT 1(d) -- Form of 5.67% Senior Note, Series D, due July 28, 2016 EXHIBIT 2.2 -- Form of Subsidiary Guaranty. Note EXHIBIT 4.4(a) -- Form of Opinion of Vorys, Xxxxx, Xxxxxxx and Xxxxx LLP, Special Counsel to for the Company and the Issuer EXHIBIT 4.4(b) -- Form of Opinion of Special Counsel to for the Purchasers XXX XXXXX FARMSXXXXXXXXX COMPANY, INC. 0000 X. XXXX XXXXXX XXXXXXXXXxxx 00xx Xxxxxx Xxxxxxxxxxx, XXXX Xxxxxxxxx 00000 AND BEF HOLDING CO.(000) 000-0000 Fax: (000) 000 0000 $150,000,000 Senior Notes Issuable In Series $23,000,000 6.20% Senior Notes, INC. C/O XXX XXXXX FARMS, INC. 0000 X. XXXXXX XXXXXX XXXXXXXXXX, XXXXXXXX 00000 $30,000,000 3.74% SENIOR NOTES, SERIES Series 1998-A, DUE JULY 28Tranche 1, 2007 due July 15, 2005 $40,000,000 4.6127,000,000 6.31% SENIOR NOTESSenior Notes, SERIES BSeries 1998-A, DUE JULY 28Tranche 2, 2010 $95,000,000 5.12% SENIOR NOTESdue July 15, SERIES C, DUE JULY 28, 2014 $25,000,000 5.67% SENIOR NOTES, SERIES D, DUE JULY 28, 2016 2008 Dated as of July 2815, 2004 1998 TO EACH OF THE PURCHASERS LISTED IN THE ATTACHED SCHEDULE A: Ladies and Gentlemen: XXX XXXXX FARMSXXXXXXXXX COMPANY, INC., a Delaware corporation (the "CompanyCOMPANY"), and BEF HOLDING CO., INC., a Delaware corporation (the "Issuer"), hereby jointly and severally agree agrees with you as follows: