R2002-107 ACCEPTING THE BID AND AUTHORIZING A CONTRACT

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. �, � . �- . Terms and Conditions of Sale Unless otherwise agreed in writing by an authorized employee of Dredging Supply Co.,Inc.("DSC")the following terms and conditions of sale("Agreement")shall apply to any sale of equipment by DSC. Any order of equipment from DSC shall be subject to the terms hereof and the purchaser specifically agrees to the terms and conditions set out herein.No verbal representation or statement may in any way change the terms hereof and no one is authorized to make such changes in the terms hereof other than the President if DSC in writing. PAYMENT Unless agreed to in writing by DSC, the terms of payment shall payment to DSC in advance of shipment and in the case of international sales must be paid through a letter of credit for the purchase price established at the purchaser's expense with a financial institution acceptable to DSC and under such terms as may be set out by DSC. If DSC has agreed in writing to invoice the purchaser,payment shall be due thirty(30)days from the date of the invoice in U.S. currency. Should the purchaser fail to fulfill any terms of payment, DSC reserves the right, at DSC's option, defer further shipments to the purchaser or cancel any unshipped portion of the purchaser's order. DSC reserves any vendor or maritime lien on the equipment in the event of failure of the purchaser to make any payment due and no action of DSC may be deemed to imply any waiver of such lien in favor of DSC. TERMS OF SHIPMENT-ACCEPTANCE All shipments shall be F.O.B.DSC's facility.The purchaser assumes all risk of loss or damage at the time of DSC's delivery to purchaser's carrier at DSC's facility.Purchaser shall be responsible for all cost and arrangements for shipment.Purchaser shall have the responsibility to inspect the equipment prior to shipment to assure itself of the condition and acceptability of the equipment at the time of delivery.DSC will provide the purchase with access for inspection during normal working hours at DSC's designated facility and acceptance of delivery shall be deemed acceptance of the equipment by the purchaser. Failure of the purchaser to inspect the equipment prior to shipment shall not abrogate the acceptance by the purchaser as set out herein. Acceptance of delivery by purchaser shall be deemed as acceptance of suitability of the equipment by the purchaser. DATE OF SHIPMENT Any indicated shipping dates are approximate and only an attempt by DSC to estimate when equipment may be shipped. The purchaser acknowledges that it may not make any claim against DSC for any change in a shipping date so long as DSC has made a good faith effort to meet such date. The purchaser acknowledges that such dates are subject to uncontrollable influences. FORCE MAJEURE DSC shall not be liable for any failure to perform its obligations under this Agreement resulting from an acts of God,acts of the purchaser, acts of any government or other civil or military authority, strikes or other labor disputes, fires, accidents, floods, hurricanes,epidemics,war,riot,embargoes,fuel or raw material shortages,or other circumstances beyond the control of DSC ("Force Majeure"). At the option of DSC, in the case of such Force Majeure,the time for performance shall be extended by a period equal to the time lost due to such event. Should such event cause the equipment not to be able to be completed, the purchaser agrees to pay DSC for the cost of the work completed. TAXES All sales,use,excise and similar taxes imposed by any federal,state,local or foreign government which DSC may be required to collect or pay with respect to the sale of equipment to the purchaser shall be for the account of the purchaser. NON-CANCELLATION AND NON-ASSIGNABLE Any order for equipment is not subject to cancellation or assignment without the written consent of DSC. WAIVER Any waiver by either the purchaser or DSC of any breach by the other party of any provision of this Agreement will not be deemed a waiver of future compliance with the terms hereof and all provisions shall remain in full force and effect. DSC does not warrant any component part of the equipment manufactured by any other party. DSC will provide to the purchaser any warranty or other material,manuals and/or specifications provided to DSC by such manufacturer.