Exhibit 10.14 ------------- DATE: July 29, 2002 TO: FuelNation (BORROWER) 4121 SW 47th Avenue, Suite 1301 Davie, Florida 33314 FROM: Shaikh Isa Mohammed Isa Alkhalifa and or his appointee, (INVESTOR) Villa 144, Shaikh Khalifa Avenue Manama, Bahrain...Bond Financing Agreement • August 1st, 2002 • Fuelnation Inc • Services-business services, nec
This letter will confirm our understanding and agreement to provide a cost of issuance and shortfall letter of credit for the taxable municipal bond issue in amounts equal to approximately 3.5% (three and one half percent) of the bond amount for a total of approximately $10,500,000 in three installments of approximately $3,500,000. The letters of credit will be available for the series A, B, C of the bond offering or any portion thereof, subject to your prior commitment you received from the investment fund located in Portland, Oregon.
