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PLEASE TAKE NOTICE that on May 31, 2022, at 10:00 a.m. (EST), a public sale (the “Public Sale”) shall be conducted of all of the membership interests of Jasper Pellets, LLC, a South Carolina limited liability company (the “Debtor”), as described on Schedule “A” below (the “Collateral”).  The Public Auction shall be conducted in accordance with Article 9 of the Uniform Commercial Code, as enacted in all applicable jurisdictions.

The Public Sale will be conducted at the offices of Greenberg Traurig, LLP, 3333 Piedmont Road, NE, Suite 2500, Atlanta, Georgia 30305.  Qualified bidders, as defined below, should ask for John D. Elrod upon arrival.

PLEASE TAKE FURTHER NOTICE that the Public Sale is being conducted by U.S. Bank Trust Company, National Association (successor in interest to U.S. Bank National Association), as trustee (the “Secured Party”) under that certain Trust Indenture dated as of November 1, 2018, by and between the Secured Party and South Carolina Jobs-Economic Development Authority (the “Issuer”), to enforce the rights and remedies of Secured Party to sell the Collateral under applicable commercial law and a certain Membership Interests Pledge Agreement dated as of November 1, 2018, by and between the Secured Party, the Debtor, and the Pledgors referenced therein, and other bond documents (collectively, the “Bond Documents”).  The principal indebtedness outstanding under the Bond Documents is not less than $11,140,000 for the Issuer’s Solid Waste Disposal Revenue Bonds (AMT) (Jasper Pellets, LLC Project), Series 2018A (Green Bonds) Bonds and $1,050,000 for the Issuer’s Taxable Solid Waste Disposal Revenue Bonds (Jasper Pellets, LLC Project), Series 2018B (Green Bonds), not inclusive of interest, fees, and expenses.

The Collateral will be sold to the highest qualified bidder for cash, or credit against outstanding indebtedness held by the Secured Party or for which the Secured Party is entitled by contract to bid.  Please be advised that Secured Party, and any assignees of the Secured Party, reserve their right to credit bid, and may credit bid, at the public sale of the Collateral.

There will be no warranties made or provided relating to title, possession, quiet enjoyment or the like in connection with the disposition.  The Collateral shall be sold AS IS, WHERE IS, and all warranties of quality, quiet enjoyment, fitness, merchantability and all other warranties, express, implied, arising by statute, common law or otherwise are expressly excluded. The Secured Party makes no representation or warranty as to (i) state or condition of title, (ii) physical, financial, or environmental condition, (iii) existence, validity, or amount of any liens or claims senior to that of Secured Party, or (iv) value of or income produced or that may be produced by the Collateral.

The Public Sale may be canceled or continued from time to time, without further notice other than as given at the Public Sale date and place, at the sole and absolute discretion of Secured Party.

Parties interested in participating at the Public Sale as a bidder for the Collateral should contact the Secured Party’s counsel, John D. Elrod, by e-mail at [email protected] or by telephone at 678-553-2100.

To be a qualified bidder, a prospective bidder must, not later than 12:00 p.m. Eastern Standard Time on Friday, May 27, 2022, contact John D. Elrod of Greenberg Traurig, LLP at the contact information above and provide accurate contact information of such bidder and such adequate assurances of such bidder’s ability to perform as the Secured Party may request including, without limitation, a required deposit. Interested parties desiring any additional information on any aspect of the Public Sale should contact John D. Elrod.

Schedule A – Collateral

The “Collateral” shall include all membership interests of the Debtor held by the following pledgors:

Charles W. Knight (30% ownership)

Fredrick Anthony Nimmer, Jr. (10% ownership)

Danny W. Faircloth (30% ownership)

Donald F. Harwell (30% ownership)

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