Document:

EXHIBIT
10.3

    

    Warrant
Certificate No. [____]

    

    NEITHER
THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES ISSUABLE UPON
THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS, AND
NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, ASSIGNED
OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT
THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE
COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH
COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED
WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING TRANSACTIONS
INVOLVING THE SECURITIES REPRESENTED HEREBY AND THE SECURITIES ISSUABLE UPON
EXERCISE THEREOF MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES
ACT.

    

    
      
        	
                Effective
      Date:  July [___], 2010

              	
                Void
      After:  July [___],
2011

              

      

    

    

    CROWNBUTTE
WIND POWER, INC.

    

    WARRANT
TO PURCHASE

    SHARES
OF COMMON STOCK

    

    Crownbutte
Wind Power, Inc., a corporation organized under the laws of the State of Nevada
(the “Company”), for
value received on the “Effective Date” specified
above, hereby issues to [______________] (the “Holder”) this warrant (the
“Warrant”) to purchase
[___________________] shares of the Company’s common stock, par value $0.001 per
share (“Common Stock”),
at the Exercise Price (as defined below), as adjusted from time to time as
provided herein, on or before July [___], 2011 (the “Expiration Date”), all subject
to the following terms and conditions.  The Warrant Shares (as defined
below) issued upon exercise of this Warrant shall be subject to the provisions
of the Company’s Amended and Restated Articles of Incorporation, a copy of which
will be furnished to the holder hereof upon written request and without
charge.

    

    Unless
otherwise defined in this Warrant, terms appearing in initial capitalized form
shall have the meaning ascribed to them in that certain Subscription Agreement
between the Company and the purchaser signatory thereto pursuant to which this
Warrant was issued (the “Subscription
Agreement”).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    As used
in this Warrant, (i) “Business
Day” means any day other than Saturday, Sunday or any other day on which
commercial banks in the City of New York, New York, are authorized or required
by law or executive order to close; (ii) “Exercise Price” means $1.00
per share of Common Stock, subject to adjustment as provided herein; and (iii)
“Warrant Shares” means
shares of Common Stock in the Company, including any securities issued or
issuable with respect thereto or into which or for which such interest may be
exchanged for, or converted into, pursuant to any stock split, stock dividend,
recapitalization, reclassification, reorganization or other similar
event.

    

    
      	
              1. 

            	
              DURATION
      AND EXERCISE OF WARRANT

            

    

    

    (a)          Exercise
Period.  The Holder may exercise this Warrant at any time and
from time to time, in whole or in part, on any Business Day on or before 5:00
P.M., Eastern Time, on the Expiration Date, subject to the provisions of Section
9 hereof.  If this Warrant is not exercised on or prior to the
Expiration Date, it shall become void and of no value, and all rights hereunder
shall thereupon cease.

    

    (b)          Exercise
Procedures.

    

    (i)           While
this Warrant remains outstanding and exercisable in accordance with Section
1(a), the Holder may exercise this Warrant, in whole or in part, as
follows:

    

    (A)           By
presentation and surrender of this Warrant to the Company at its principal
offices or at such other office or agency as the Company may specify in writing
to the Holder, with a duly executed copy of the Notice of Exercise attached as
Exhibit A;
and

    

    (C)           Payment
of the then-applicable Exercise Price per share multiplied by the number of
Warrant Shares being purchased upon exercise of the Warrant (such amount, the
“Aggregate Exercise
Price”) made in the form of cash, or by certified check, bank draft or
money order payable in lawful money of the United States of
America.

    

    (ii)          Upon
the exercise of this Warrant in compliance with the provisions of this Section
1(b), the Company shall promptly issue and cause to be delivered to the Holder a
certificate for the total number of shares of Common Stock for which this
Warrant is being exercised.  Each exercise of this Warrant shall be
effective immediately prior to the close of business on the date that the
Company has received each of the Notice of Exercise and the Aggregate Exercise
Price (the “Exercise Delivery
Documents”).  Upon delivery of the Exercise Delivery Documents,
the Holder shall be deemed for all corporate purposes to have become the holder
of record of the shares of Common Stock issuable upon such exercise,
irrespective of the date of delivery of the certificates evidencing such
shares.

    

    (c)           Partial
Exercise.  This Warrant shall be exercisable, either in its
entirety or, from time to time, for part only of the number of Warrant Shares
referenced by this Warrant. If this Warrant is exercised in part, the Company
shall issue, at its expense, a new Warrant, in substantially the form of this
Warrant, referencing such reduced number of Warrant Shares that remain subject
to this Warrant.

    
      
         

      

      
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    (d)           Disputes.  In
the case of a dispute as to the determination of the Exercise Price or the
arithmetic calculation of the Warrant Shares, the Company shall promptly issue
to the Holder the number of Warrant Shares that are not disputed and resolve
such dispute in accordance with Section 15.

    

    
      	
              2. 

            	
              ISSUANCE
      OF WARRANT SHARES

            

    

    

    (a)           The
Company covenants that all Warrant Shares will, upon issuance in accordance with
the terms of this Warrant, be (i) duly authorized, fully paid and
non-assessable, and (ii) free from all liens, charges and security interests,
with the exception of claims arising through the acts or omissions of the Holder
and except as arising from applicable federal and state securities
laws.

    

    (b)           The
Company shall register this Warrant upon records to be maintained by the Company
for that purpose in the name of the record holder of such Warrant from time to
time. The Company may deem and treat the registered Holder of this Warrant as
the absolute owner thereof for the purpose of any exercise thereof, any
distribution to the Holder thereof and for all other purposes.

    

    (c)           The
Company will not, by amendment of its articles of incorporation or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed
hereunder by the Company, but will at all times in good faith assist in the
carrying out of all the provisions of this Warrant and in the taking of all
action necessary or appropriate in order to protect the rights of the Holder to
exercise this Warrant, or against impairment of such rights.

    

    
      	
              3.

            	
              ADJUSTMENTS
      OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT
  SHARES

            

    

    

    (a)           The
Exercise Price and the number of shares purchasable upon the exercise of this
Warrant shall be subject to adjustment from time to time upon the occurrence of
certain events described in this Section 3(a); provided, that
notwithstanding the provisions of this Section 3(a), the Company shall not be
required to make any adjustment if and to the extent that such adjustment would
require the Company to issue a number of shares of Common Stock in excess of its
authorized but unissued shares of Common Stock, less all shares of Common Stock
that have been reserved for issuance upon the conversion of all outstanding
securities convertible into shares of Common Stock and the exercise of all
outstanding options, warrants and other rights exercisable for shares of Common
Stock.  If the Company does not have the requisite number of
authorized but unissued shares of Common Stock to make any adjustment, the
Company shall use its commercially reasonable efforts to obtain the necessary
shareholder consent to increase the authorized number of shares of Common Stock
to make such an adjustment pursuant to this Section 3(a).

    
      
         

      

      
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    (i)           Subdivision or Combination
of Stock.  If the Company at any time after the date of
issuance of this Warrant subdivides (by any stock split, stock dividend,
recapitalization or otherwise) its outstanding shares of Common Stock into a
greater number of shares, the Exercise Price in effect immediately prior to such
subdivision shall be proportionately reduced and the number of Warrant Shares
shall be proportionately increased.  If the Company at any time after
the date of issuance of this Warrant combines (by combination, reverse stock
split or otherwise) its outstanding shares of Common Stock into a smaller number
of shares, the Exercise Price in effect immediately prior to such combination
will be proportionately increased and the number of Warrant Shares shall be
proportionately decreased.  Any adjustment under this Section 3(a)(i)
shall become effective at the close of business on the date the subdivision or
combination becomes effective.  The Exercise Price and the Warrant
Shares, as so adjusted, shall be readjusted in the same manner upon the
happening of any successive event or events described in this Section
3(a)(i).

    

    (ii)          Distribution of
Assets.  If the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of
Common Stock, by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock or other securities, property or
options by way of a dividend, spin off, reclassification, corporate
rearrangement or other similar transaction) (a “Distribution”), at any time
after the issuance of this Warrant, then, in each such case the Exercise Price
and the number of Warrant Shares in effect immediately prior to the close of
business on the record date fixed for the determination of holders of Common
Stock entitled to receive the Distribution shall be adjusted proportionately,
and the Holder hereof shall, upon the exercise of this Warrant, be entitled to
receive, in addition to the number of shares of Common Stock receivable
thereupon, and without payment of any additional consideration therefor, the
amount of assets that such Holder would hold on the date of such exercise had
such Holder been the holder of record of such Common Stock as of such record
date.  The Exercise Price and the Warrant Shares, as so adjusted,
shall be readjusted in the same manner upon the happening of any successive
event or events described in this Section 3(a)(ii).

    
      
         

      

      
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    (iii)         Reorganization,
Consolidation, Merger or Sale.  If any recapitalization,
reclassification or reorganization of the capital stock of the Company, or any
consolidation or merger of the Company with another corporation, or the sale of
all or substantially all of its assets or other transaction shall be effected in
such a way that holders of Common Stock shall be entitled to receive stock,
securities, or other assets or property (an “Organic Change”), then, as a
condition of such Organic Change, lawful and adequate provisions shall be made
by the Company whereby the Holder hereof shall thereafter have the right to
purchase and receive (in lieu of the shares of Common Stock of the Company
immediately theretofore purchasable and receivable upon the exercise of the
rights represented by this Warrant) such shares of stock, securities or other
assets or property as may be issued or payable with respect to or in exchange
for a number of outstanding shares of such Common Stock equal to the number of
shares of such Common Stock immediately theretofore purchasable and receivable
assuming the full exercise of the rights represented by this Warrant. In the
event of any Organic Change, appropriate provision shall be made by the Company
with respect to the rights and interests of the Holder of this Warrant to the
end that the provisions hereof (including, without limitation, provisions for
adjustments of the Exercise Price and of the number of shares purchasable and
receivable upon the exercise of this Warrant) shall thereafter be applicable, in
relation to any shares of stock, securities or other assets or property
thereafter deliverable upon the exercise hereof. The Company will not effect any
such consolidation, merger or sale unless, prior to the consummation thereof,
the successor corporation (if other than the Company) resulting from such
consolidation or merger or the corporation purchasing such assets shall assume
by written instrument reasonably satisfactory in form and substance to the
Holder executed and mailed or delivered to the registered Holder hereof at the
last address of such Holder appearing on the books of the Company, the
obligation to deliver to such Holder such shares of stock, securities or other
assets or property as, in accordance with the foregoing provisions, such Holder
may be entitled to purchase. If there is an Organic Change, then the Company shall
cause to be mailed to the Holder at its last address as it shall appear on the
books and records of the Company, at least 10 calendar days before the effective
date of the Organic Change, a notice stating the date on which such Organic
Change is expected to become effective or close, and the date as of which it is
expected that holders of Common
Stock of record shall be entitled to
exchange their shares for
such shares of stock, securities or other
assets or property delivered upon such
Organic Change; provided, that the failure to mail such notice or any defect
therein or in the mailing thereof shall not affect the validity of the corporate
action required to be specified in such notice.  The Holder is
entitled to exercise this Warrant during the 10-day period commencing on the
date of such notice to the effective date of the event triggering such
notice.  In any event, the successor corporation (if other than
the Company) resulting from such consolidation or merger or the corporation
purchasing such assets shall be deemed to assume such obligation to deliver to
such Holder such shares of stock, securities or other assets or property even in
the absence of a written instrument assuming such obligation to the extent such
assumption occurs by operation of law.

    

    (b)           Certificate as to
Adjustments.  Upon the occurrence of each adjustment or
readjustment pursuant to this Section 3, the Company at its expense shall
promptly compute such adjustment or readjustment in accordance with the terms
hereof and furnish to each Holder of this Warrant a certificate setting forth
such adjustment or readjustment and showing in detail the facts upon which such
adjustment or readjustment is based.  The Company shall promptly
furnish or cause to be furnished to such Holder a like certificate setting
forth: (i) such adjustments and readjustments; and (ii) the number of shares and
the amount, if any, of other property which at the time would be received upon
the exercise of the Warrant.

    

    (c)           Certain
Events.  If any event occurs as to which the other provisions
of this Section 3 are not strictly applicable but the lack of any adjustment
would not fairly protect the purchase rights of the Holder under this Warrant in
accordance with the basic intent and principles of such provisions, or if
strictly applicable would not fairly protect the purchase rights of the Holder
under this Warrant in accordance with the basic intent and principles of such
provisions, then the Company’s Board of Directors will, in good faith, make an
appropriate adjustment to protect the rights of the Holder; provided, that no
such adjustment pursuant to this Section 3(c) will increase the Exercise Price
or decrease the number of Warrant Shares as otherwise determined pursuant to
this Section 3.

    
      
         

      

      
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              4. 

            	
              TRANSFERS
      AND EXCHANGES OF WARRANT AND WARRANT
SHARES

            

    

    (a)           Registration of Transfers
and Exchanges.  Subject to Section 4(c), upon the Holder’s
surrender of this Warrant, with a duly executed copy of the Form of Assignment
attached as Exhibit B,
to the Secretary of the Company at its principal offices or at such other office
or agency as the Company may specify in writing to the Holder, the Company shall
register the transfer of all or any portion of this Warrant.  Upon
such registration of transfer, the Company shall issue a new Warrant, in
substantially the form of this Warrant, evidencing the acquisition rights
transferred to the transferee and a new Warrant, in similar form, evidencing the
remaining acquisition rights not transferred, to the Holder requesting the
transfer.

    

    (b)           Warrant Exchangeable for
Different Denominations.  The Holder may exchange this Warrant
for a new Warrant or Warrants, in substantially the form of this Warrant,
evidencing in the aggregate the right to purchase the number of Warrant Shares
which may then be purchased hereunder, each of such new Warrants to be dated the
date of such exchange and to represent the right to purchase such number of
Warrant Shares as shall be designated by the Holder.  The Holder shall
surrender this Warrant with duly executed instructions regarding such
re-certification of this Warrant to the Secretary of the Company at its
principal offices or at such other office or agency as the Company may specify
in writing to the Holder.

    

    (c)           Restrictions on
Transfers.  This Warrant may not be transferred at any time
without (i) registration under the Securities Act or (ii) an exemption from such
registration and a written opinion of legal counsel addressed to the Company
that the proposed transfer of the Warrant may be effected without registration
under the Securities Act, which opinion will be in form and from counsel
reasonably satisfactory to the Company.

    

    (d)           Permitted Transfers and
Assignments.  Notwithstanding any provision to the contrary in
this Section 4, the Holder may transfer, with or without consideration, this
Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s
affiliates (as such term is defined under Rule 144 of the Securities Act)
without obtaining the opinion from counsel that may be required by Section
4(c)(ii); provided that, the
Holder delivers to the Company and its counsel certification, documentation and
other assurances reasonably required by the Company’s counsel to enable the
Company’s counsel to render an opinion that such transfer does not violate
applicable securities laws.

    

    
      	
              5. 

            	
              MUTILATED
      OR MISSING WARRANT CERTIFICATE

            

    

    

    If this
Warrant is mutilated, lost, stolen or destroyed, upon request by the Holder, the
Company will, at its expense, issue, in exchange for and upon cancellation of
the mutilated Warrant, or in substitution for the lost, stolen or destroyed
Warrant, a new Warrant, in substantially the form of this Warrant, representing
the right to acquire the equivalent number of Warrant Shares; provided that, as a
prerequisite to the issuance of a substitute Warrant, the Company may require
satisfactory evidence of loss, theft or destruction as well as an indemnity from
the Holder of a lost, stolen or destroyed Warrant.

    

    
      	
              6. 

            	
              PAYMENT
      OF TAXES

            

    

    

    The
Company will pay all transfer and stock issuance taxes attributable to the
preparation, issuance and delivery of this Warrant and the Warrant Shares (and
replacement Warrants) including, without limitation, all documentary and stamp
taxes; provided, however, that the
Company shall not be required to pay any tax in respect of the transfer of this
Warrant, or the issuance or delivery of certificates for Warrant Shares or other
securities in respect of the Warrant Shares to any person or entity other than
to the Holder.

     

    
      
        
        

      

      
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              7. 

            	
              FRACTIONAL
      WARRANT SHARES

            

    

    

    No
fractional Warrant Shares shall be issued upon exercise of this Warrant. The
Company, in lieu of issuing any fractional Warrant Share, shall round up the
number of Warrant Shares issuable to nearest whole share. The Company shall not
be required to make any cash or other adjustment in respect of such fraction of
a share to which the Holder would otherwise be entitled.

    

    
      	
              8. 

            	
              NO
      EQUITY INTEREST RIGHTS AND LEGEND

            

    

    

    No holder
of this Warrant, as such, shall be entitled to vote or be deemed the holder of
any other securities of the Company that may at any time be issuable on the
exercise hereof, nor shall anything contained herein be construed to confer upon
the holder of this Warrant, as such, the rights of a shareholder of the Company
or the right to vote for the election of directors or upon any matter submitted
to shareholders at any meeting thereof, or give or withhold consent to any
corporate action or to receive notice of meetings or other actions affecting
shareholders (except as provided herein), or to receive dividends or
subscription rights or otherwise (except as provide herein).

    

    Each
certificate for Warrant Shares initially issued upon the exercise of this
Warrant, and each certificate for Warrant Shares issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with
a legend in substantially the following form:

    

    “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A
REGISTRATION STATEMENT WITH  RESPECT THERETO IS EFFECTIVE UNDER THE
SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION
FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO
THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY
SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS.”

    
      
         

      

      
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              9. 

            	
              CALL
      OF WARRANT

            

    

    

    (a)           Procedures. The
Company may at any time, subject to the conditions set forth herein, call for
the exercise of this Warrant (the “Call Notice”) if the fair
market value of the Common Stock for the twenty (20) consecutive trading days
ending three (3) days prior to the date of the Call Notice is at least $1.40,
subject to adjustment for stock dividends, stock splits and other anti-dilution
provisions as provided for in Section 3 of this Warrant. For purposes of this
Section 9(a), “fair market
value” at any date shall be deemed to be, as applicable: (i) the last
sale price regular way as reported on the principal national securities exchange
on which the Common Stock is listed or admitted to trading; or (ii) if the
Common Stock is not listed or admitted to trading on any national securities
exchange, the average of the closing bid and asked prices regular way for the
Common Stock as reported by the Nasdaq National Market or Nasdaq SmallCap Market
of the Nasdaq Stock Market, Inc. (“Nasdaq”); or (iii) if the
Common Stock is not listed or admitted for trading on any national securities
exchange, and is not reported by Nasdaq, the average of the closing bid and
asked prices, as reported on the OTC Bulletin Board or if no such quotation is
available, then the closing bid and asked prices in the over-the-counter market
as furnished by the National Quotation Bureau, Inc; or (iv) if the Common Stock
is not listed or admitted for trading on any national securities exchange, is
not reported by Nasdaq, no quotation is available on the OTC Bulletin Board and
no closing and asked prices are available from National Quotation Bureau, Inc.,
then the value determined by an independent, qualified appraiser selected by the
Company in good faith. The Call Notice shall be deemed effective upon mailing
and the time of mailing is the “Effective Date of the Notice.”
The Call Notice shall state the exercise period and cancellation date not less
than thirty (30) days from the Effective Date of the Notice (the “Cancellation Date”). In the
event the number of shares of Common Stock issuable upon exercise of this
Warrant being called are adjusted pursuant to Section 3 hereof, then upon each
such adjustment the Exercise Price will be adjusted by multiplying the Exercise
Price in effect immediately prior to such adjustment by a fraction, the
numerator of which is the number of shares of Common Stock issuable upon
exercise of this Warrant being exercised immediately prior to such adjustment
and the denominator of which is the number of shares of Common Stock issuable
upon exercise of this Warrant being exercised immediately after such adjustment.
The Holder may exercise this Warrant between the Effective Date of the Notice
and the Cancellation Date, such exercise being effective if done in accordance
with Section 1 hereof, and if this Warrant, with the form of election to
purchase duly executed, and the Exercise Price are actually received by the
Company at its office located at 111 Fifth Avenue Northeast, Mandan,
ND  58554, no later than 5:00 PM Eastern Standard time on or prior to
the Cancellation Date.

     

    (b)            Return of
Warrant.
If the Holder does not wish to exercise this Warrant, the Holder should mail
this Warrant to the Company at its office located at 111 Fifth Avenue Northeast,
Mandan, ND  58554 after receiving the Call Notice required by this
Section. If the Call Notice shall have been so mailed, then, on and after such
Cancellation Date, notwithstanding that this Warrant subject to the Call Notice
shall not have been surrendered for redemption, the obligation evidenced by this
Warrant not so surrendered or effectively exercised shall be deemed no longer
outstanding, and all rights with respect hereto shall forthwith cease and
terminate.

    
      
         

      

      
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              10. 

            	
              NOTICES

            

    

    

    All
notices, consents, waivers and other communications under this Warrant must be
in writing and will be deemed given to a party when (a) delivered to the
appropriate address by hand or by nationally recognized overnight courier
service (costs prepaid); (b) sent by facsimile or e-mail with confirmation of
transmission by the transmitting equipment; (c) received or rejected by the
addressee, if sent by certified mail, return receipt requested, if to the
registered Holder hereof; or (d) seven days after the placement of the notice
into the mails (first class postage prepaid), to the Holder at the address,
facsimile number or e-mail address furnished by the registered Holder to the
Company in accordance with the Subscription Agreement, or if to the Company, to
it at 111 Fifth Avenue Northeast, Mandan, ND  58554, Attention:
Timothy H. Simons, Chief Executive Officer, Facsimile: (701) 667-2083 (or to
such other address, facsimile number or e-mail address as the Holder or the
Company as a party may designate by notice the other party) with a copy to
Gottbetter & Partners, LLP, 488 Madison Avenue, New York,
NY  10022, Attention: Adam S. Gottbetter, Esq.

    

    
      	
              11. 

            	
              SEVERABILITY

            

    

    

    If a
court of competent jurisdiction holds any provision of this Warrant invalid or
unenforceable, the other provisions of this Warrant will remain in full force
and effect. Any provision of this Warrant held invalid or unenforceable only in
part or degree will remain in full force and effect to the extent not held
invalid or unenforceable.

    

    
      	
              12. 

            	
              BINDING
      EFFECT

            

    

    

    This
Warrant shall be binding upon and inure to the sole and exclusive benefit of the
Company, its successors and assigns, the registered Holder or Holders from time
to time of this Warrant and the Warrant Shares.

    

    
      	
              13. 

            	
              SURVIVAL
      OF RIGHTS AND DUTIES

            

    

    

    This
Warrant shall terminate and be of no further force and effect on the earlier of
5:00 P.M., Eastern Time, on the Expiration Date or the date on which this
Warrant has been exercised in full, or as provided in Section 9
hereof.

    

    
      	
              14. 

            	
              GOVERNING
      LAW

            

    

    

    This
Warrant will be governed by and construed under the laws of the State of New
York without regard to conflicts of laws principles that would require the
application of any other law.

    
      
         

      

      
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              15. 

            	
              DISPUTE
      RESOLUTION

            

    

    

    In the
case of a dispute as to the determination of the Exercise Price or the
arithmetic calculation of the Warrant Shares, the Company shall submit the
disputed determinations or arithmetic calculations via facsimile within two
Business Days of receipt of the Notice of Exercise giving rise to such dispute,
as the case may be, to the Holder.  If the Holder and the Company are
unable to agree upon such determination or calculation of the Exercise Price or
the Warrant Shares within three Business Days of such disputed determination or
arithmetic calculation being submitted to the Holder, then the Company shall,
within two Business Days, submit via facsimile (a) the disputed determination of
the Exercise Price to an independent, reputable investment bank selected by the
Company and approved by the Holder or (b) the disputed arithmetic calculation of
the Warrant Shares to the Company’s independent, outside
accountant.  The Company shall cause at its expense the investment
bank or the accountant, as the case may be, to perform the determinations or
calculations and notify the Company and the Holder of the results no later than
ten Business Days from the time it receives the disputed determinations or
calculations.  Such investment bank’s or accountant’s determination or
calculation, as the case may be, shall be binding upon all parties absent
demonstrable error.

    

    
      	
              16. 

            	
              NOTICES
      OF RECORD DATE

            

    

    

    Upon (a)
any establishment by the Company of a record date of the holders of any class of
securities for the purpose of determining the holders thereof who are entitled
to receive any dividend or other distribution, or right or option to acquire
securities of the Company, or any other right, or (b) any capital
reorganization, reclassification, recapitalization, merger or consolidation of
the Company with or into any other corporation, any transfer of all or
substantially all the assets of the Company, or any voluntary or involuntary
dissolution, liquidation or winding up of the Company, or the sale, in a single
transaction, of a majority of the Company’s voting equity securities (whether
newly issued, or from treasury, or previously issued and then outstanding, or
any combination thereof), the Company shall mail to the Holder at least ten
Business Days, or such longer period as may be required by law, prior to the
record date specified therein, a notice specifying (i) the date established as
the record date for the purpose of such dividend, distribution, option or right
and a description of such dividend, option or right, (ii) the date on which any
such reorganization, reclassification, transfer, consolidation, merger,
dissolution, liquidation or winding up, or sale is expected to become effective
and (iii) the date, if any, fixed as to when the holders of record
of  Common Stock shall be entitled to exchange their shares of Common
Stock for securities or other property deliverable upon such reorganization,
reclassification, transfer, consolation, merger, dissolution, liquidation or
winding up.

    

    
      	
              17. 

            	
              RESERVATION
      OF SHARES

            

    

    

    The
Company shall reserve and keep available out of its authorized but unissued
shares of Common Stock for issuance upon the exercise of this Warrant, free from
pre-emptive rights, such number of shares of Common Stock for which this Warrant
shall from time to time be exercisable.  The Company will take all
such reasonable action as may be necessary to assure that such Warrant Shares
may be issued as provided herein without violation of any applicable law or
regulation.  Without limiting the generality of the foregoing, the
Company covenants that it will use commercially reasonable efforts to take all
such action as may be necessary or appropriate in order that the Company may
validly and legally issue fully paid and nonassessable Warrant Shares upon the
exercise of this Warrant and use commercially reasonable efforts to obtain all
such authorizations, exemptions or consents, including but not limited to
consents from the Company’s shareholders or Board of Directors or any public
regulatory body, as may be necessary to enable the Company to perform its
obligations under this Warrant.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    

    
      	
              18. 

            	
              NO
      THIRD PARTY RIGHTS

            

    

    

    This
Warrant is not intended, and will not be construed, to create any rights in any
parties other than the Company and the Holder, and no person or entity may
assert any rights as third-party beneficiary hereunder.

    

    [SIGNATURE
PAGE FOLLOWS]

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    EXHIBIT 10.3
 

    IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed as of
the date first set forth above.

    

    
      
        
          	 
      	
                  CROWNBUTTE
      WIND POWER INC.

                
	 
      	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	
                  Name: Timothy
      H. Simons

                
	 
      	
                  Title:  
      Chief Executive
Officer

                

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    EXHIBIT 10.3
 

    EXHIBIT
A

    

    NOTICE OF
EXERCISE

    

    (To be
executed by the Holder of Warrant if such Holder desires to exercise
Warrant)

    

    To
Crownbutte Wind Power Inc.:

    

    The
undersigned hereby irrevocably elects to exercise this Warrant and to purchase
thereunder, ___________________ full shares of common stock of Crownbutte Wind
Power, Inc. issuable upon exercise of the Warrant and delivery of 
$__________ (in cash as provided for in the foregoing Warrant) and any
applicable taxes payable by the undersigned pursuant to such Warrant.

    

    The
undersigned requests that certificates for such shares be issued in the name
of:

    

    _________________________________________

    (Please
print name, address and social security or federal employer

    identification
number (if applicable))

    

    _________________________________________

    

    _________________________________________

    

    If the
shares issuable upon this exercise of the Warrant are not all of the Warrant
Shares which the Holder is entitled to acquire upon the exercise of the Warrant,
the undersigned requests that a new Warrant evidencing the rights not so
exercised be issued in the name of and delivered to:

    

    _________________________________________

    (Please
print name, address and social security or federal employer

    identification
number (if applicable))

    

    _________________________________________

    

    _________________________________________

    

    
      
        
          
            
              	 
      	
                      Name
      of Holder (print):

                    	 
      

            

          

        

      

    

    

    
      
        
          	 
      	
                  Signature:

                	 
      

        

      

    

    

    
      
        
          	 
      	
                  By:

                	 
      

        

      

    

    

    
      
        
          	 
      	
                  Title:

                	 
      

        

      

    

    

    
      
        
          	 
      	
                  Dated:

                	 
      

        

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    EXHIBIT 10.3

     

    EXHIBIT
B

    

    FORM OF
ASSIGNMENT

    

    FOR VALUE
RECEIVED, ___________________________________ hereby sells, assigns and
transfers to each assignee set forth below all of the rights of the undersigned
under the Warrant (as defined in and evidenced by the attached Warrant) to
acquire the number of Warrant Shares set opposite the name of such assignee
below and in and to the foregoing Warrant with respect to said acquisition
rights and the shares issuable upon exercise of the Warrant:

    

    
      
        
          
            
              
                
                  	
                          Name of Assignee

                        	 	
                          Address

                        	 	
                          Number of Warrant Shares

                        
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      

                

              

            

          

        

      

    

    

    If the
total of the Warrant Shares are not all of the Warrant Shares evidenced by the
foregoing Warrant, the undersigned requests that a new Warrant evidencing the
right to acquire the Warrant Shares not so assigned be issued in the name of and
delivered to the undersigned.

    
      

      
        
          
            
              
                	 
      	
                        Name
      of Holder (print):

                      	 
      

              

            

          

        

      

      

      
        
          
            	 
      	
                    Signature:

                  	 
      

          

        

      

      

      
        
          
            	 
      	
                    By:

                  	 
      

          

        

      

      

      
        
          
            	 
      	
                    Title:

                  	 
      

          

        

      

      

      
        
          
            	 
      	
                    Dated:Unassociated Document

    Exhibit
10.1

       

      RMB
Loan Agreement (Short-term)

       

      
        
          
            
              	 	
                      Agreement
      number: 2010 Nian 6310517131Zi
No.002

                    

            

          

        

      

       

      Debtor:
Henan Shuncheng Group Coal Coke Co., Ltd.

       

      Business
License Number: 410522110001012

       

      Legal
Representative (Person in Charge): Wang Xinshun

       

      Place of
Domicile: Nan Gongye Road, Tongye Town, Anyang County

       

      Post
Code: 455141

       

      Bank and
Account Number: Bank of China, Huo Branch    

       

      Phone:
0372-5608958

       

      Fax:
0372-5608472

       

      Creditor:
Anyang Branch, Bank of China (BOC)

       

      Legal
Representative (Person in Charge): An Zhenhu

       

      Place of
Domicile: Wenfeng Thoroughfare, Anyang County

       

      Post
Code: 455000

       

      Phone:
0372-2926786

       

      Fax:
0372-2926786

       

      This
Agreement is concluded on the basis of equal consultations between the Debtor
and the Creditor as of release of short-term RMB loans by the Creditor to the
Debtor.

       

      
        Article
1 Amount
of the Loan

      

       

      Amount of
the loan: (Written in uppercase letters) TWENTY MILLION YUAN ONLY

       

                                        (Written
in lowercase letters) RMB 20,000,000.00

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        Article
2 Term
of the Loan

      

       

      Term of
the loan: 12 months (July 20, 2010 to July 20, 2011) commencing from actual loan
withdrawal date or the first actual withdrawal date in case of phased
withdrawals.

       

      The
Debtor shall withdraw money strictly following the specified withdrawal time.
Where the actual withdrawal date is later than the specified one, the Debtor
shall still repay the money in accordance with the set repayment time
herein.

       

      
        Article
3 Use
of the Loan

      

       

      Use of
the loan: working capital loan

       

      The
Debtor shall not change the usage of the loan without the written consent of the
Creditor, including, but not limited to investing in real estate, stocks, stock
rights and other securities, prohibited projects by laws, regulations,
supervision rules or state policies and legally unauthorized projects, and other
projects and usages brooking no involvement of bank loans.

       

      
        Article
4 Interest
Rate of the Loan and Interest Settlement

      

       

      
        	
                1.

              	
                Interest
      Rate of the Loan

              

      

       

      The
interest rate shall be determined by the (1) method below:

       

      
        	  	
                (1)

              	
                Fixed
      Interest Rate

              

      

       

      The
annual interest rate is 5.841% and the rate shall remain the same within the
validity period of the Agreement.

       

      
        	  	
                (2)

              	
                Floating
      Interest Rate

              

      

       

      The
adjustment cycle of interest rate shall be / months.

       

      The
interest rate shall be adjusted per / months from the actual withdrawal date (or
the first actual withdrawal date of phased withdrawal). Adjustment date is the
same as the corresponding date of actual withdrawal date in one month. In case
that there is no adjustment date corresponding to actual withdrawal date, then
the new applicable interest shall be in effect from the last date of such
month.

       

      
        	 	
                A.

              	
                The
      interest rate of first installment of each withdrawal will be raised
      / %reduced 
      /
      % on the basis of benchmark interest rate of
      / loan issued by People’s Bank of China (the
    “PBOC”);

              

      

       

      
        	
              	
                B.

              	
                After
      one floating cycle, the interest rate will be raised / reduced % on the basis
      of benchmark interest rate of similar loans issued by PBOC and serve as
      the applicable interest rate for next floating
  cycle.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                2.

              	
                Interest
      Calculation

              

      

       

      Interest
shall be accrued from the actual withdrawal date on the basis of actual amount
of withdrawal and days actually lapsed.

       

      Formula
of interest calculation: interest = principal ×days actually lapsed × daily
interest rate

       

      Calculation
for daily interest rate is based on 360 days per year.

       

      Conversion
formula: daily interest rate = annual interest rate / 360.

       

      
        	
                3.

              	
                Interest
      Settlement Method

              

      

       

      The
Debtor shall follow the (1) method below:

       

      
        	
              	
                (1)

              	
                On
      a quarterly basis: Interest shall be settled on 20th
      of the last month of each quarter and paid on 21st.

              

      

       

      
        	
              	
                (2)

              	
                On
      a monthly basis: Interest shall be settled on 20th
      of each month and paid on 21st.

              

      

       

      If
principal payment of the last installment is not on the date of interest
payment, then the Debtor shall pay off all the payable interest on the date on
which the principal payment of last installment shall be effected.

       

      
        	
                4.

              	
                Default
      Interest

              

      

       

      
        	
              	
                (1)

              	
                In
      case that the Debtor fails to repay the loan according to the specified
      term, the overdue part shall be charged interest at the overdue default
      interest rate from the overdue date up till the pay-off of principal and
      interest.

              

      

       

      
        	
              	
                (2)

              	
                If
      the Debtor fails to use the loan in accordance with the prescribed usage,
      the diverted part shall be charged interest based on the default interest
      rate of loan diversion from the date of diversion to the pay-off of
      principal and interest.

              

      

       

      
        	  	
                (3)

              	
                The
      overdue and diverted loan will be charged interest according to the
      default interest rate applicable to diverted
  loan.

              

      

       

      
        	
              	
                (4)

              	
                Interest,
      which the Debtor fails to pay on time, shall follow the method of interest
      settlement in Article 4.3. Compound interest shall be charged at the
      prescribed loan interest rate in Article 4.1 within the loan period and at
      the default interest rate herein when the loan is
  overdue.

              

      

       

      
        	
              	
                (5)

              	
                The
      compound interest and default interest shall be calculated in accordance
      with the adjustment of the loan interest rate specified herein. New
      calculation shall be made from the date of
  adjustment.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	  	
                (6)

              	
                Default
      Interest Rate

              

      

       

      
        	
              	
                A.

              	
                Within
      the term of loan, the default interest rate for overdue loan shall be the
      loan interest rate as agreed in the Article 4.1 hereof plus 50% thereof.
      The default interest rate for the diverted loan shall be the loan interest
      rate as agreed in the item one of this Article hereof plus 100%
      thereof.

              

      

      

      
        	
              	
                B.

              	
                As
      of the expiration date of the borrowing period, the default interest rate
      of the fixed rate loan will be changed to floating interest rate, and the
      floating period is 12 months. The readjustment date shall be the
      corresponding date in the readjustment month when the borrowing time limit
      expires, if there is no such corresponding date in the readjustment month,
      the readjustment date shall be the last date in the readjustment
      month.

              

      

      

      Within
the initial floating period, the default interest rate for overdue loan shall be
the loan interest rate as agreed in the Article 4.1 hereof plus 50% thereof. The
default interest rate for the misappropriated loan shall be the loan interest
rate as agreed in the Article 4.1 hereof plus 100% thereof.

      

      Upon
expiration of each floating period, the benchmark loan interest rate in the same
grade issued by the People’s Bank on the readjustment date, broke surface 10%,
which shall be the benchmark interest rate applicable to the next floating
period, and the default interest rate for overdue loan shall be such benchmark
interest rate plus 50% thereof; the default rate for misappropriated loan shall
be such benchmark interest rate plus 100% thereof.

      

      
        	
              	
                C.

              	
                 After
      the expiration of the borrowing time limit, the interest for floating
      interest loan still floats in accordance with the floating period and
      methods as agreed in this Article 4.1 hereof. The default interest for
      overdue loan shall be such floating interest plus _/_% thereof; the
      default interest for diverted loan shall be such floating interest plus
      _/_% thereof..

              

      

       

      
        Article
5 Conditions
of Withdrawal

      

       

      The
withdrawal by the Debtor shall be subject to fulfillment of the following
conditions:

       

      
        	
                1.

              	
                This
      Agreement and its annexes have come into
effect;

              

      

       

      
        	
                2.

              	
                The
      Debtor has provided guarantee at the request of the Creditor, the
      guarantee Agreement has taken effect and related legal approval,
      registration or documentation procedures are
  completed;

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                3.

              	
                The
      Debtor has reserved and concluded documents for the Creditor pertaining to
      the fulfillment of the Agreement, receipts, seal impression, roster,
      signature samples and filled relevant
documents;

              

      

       

      
        	
                4.

              	
                The
      Debtor has opened necessary account for the performance of the Agreement
      at the request of the Creditor;

              

      

       

      
        	
                5.

              	
                The
      Debtor has submitted written application and documentary evidence
      pertinent to the usage of the loan to the Creditor and has gone through
      relevant withdrawal procedures three banking day ahead of the withdrawal
      time;

              

      

       

      
        	
                6.

              	
                The
      Debtor has submitted to the Creditor the Resolution and the Authorization
      which the Board or other company authorities have agreed to sign for the
      execution hereof.

              

      

       

      
        	
                7.

              	
                Other
      conditions of withdrawal stipulated by law or agreed upon by both
      parties.

              

      

       

      In case
that the above-mentioned conditions are not fulfilled, the Creditor is entitled
to refuse the Debtor’s withdrawal application, unless otherwise agreed by the
Creditor.

       

      
        Article
6 Payment
Methods of Loan Fund

      

       

      
        	
                1.

              	
                In
      accordance with the Interim Measures for the
      Administration of liquidity loans of China Banking Regulatory
      Commission and the requirements of the Creditor, if the Debtor is required
      to entrust the Creditor to pay the loan under this Agreement, then the
      Debtor shall do so.

              

      

      

      While the
Creditor is trusted to pay the loan refers to that the Creditor, according to
the Debtor’s application for drawing and payment order, pays the loan fund to
Debtor’s counter party who complies with the agreed fund use purpose under this
Agreement.

      

      In case
the Creditor is entrusted to pay loan, the Debtor shall specify its payment
order in its withdrawal application (including such necessary payment
information such as name of the counter party who receives such loan, the bank
account of the counter party, and payment amount etc ), and the Debtor shall
also submit such relevant transaction materials as the supportive documents for
the fund use purpose to the Creditor for reviewing, after examined and approved
by the Creditor, the loan will be paid to the counter party of the Debtor
through Debtor’s bank account.  Where the relevant payment order or
the transactional materials provided by the Debtor is not true, accurate or
complete which incurs the failure of the Creditor to finish the trusted payment
liabilities in a timely fashion, the Creditor shall not take any
responsibilities, in addition, such shall not affect any already incurred
responsibility for repayment obligations of the Debtor under this
Agreement.  The Creditor, according to the Debtor’s withdrawal
application and payment order, and the payment instrument as required by the
Creditor, pays the amount to the bank account of the Debtor’s counter
party.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      If the
Creditor, upon examination, finds that such transaction materials as the
supportive documents for the fund use purpose of the loan provided by the Debtor
does not comply with this Agreement or exist defects, the Creditor has the right
to require the Debtor to provide supplements, replacement or explanations or
re-submit the relevant materials.  The Creditor has the right to
refuse to grant and pay the relevant amount before the Debtor submits the
qualified relevant transaction materials as required by the
Creditor.

      

      In case
the opening bank of the counter party returns the loan, therefore, the Creditor
fails to pay the loan to the Debtor’s counter party in a timely fashion
according to the Debtor’s payment order, under such circumstance, the Creditor
does not take any responsibilities, and such shall not affect any already
incurred repayment obligations of the Debtor. The Debtor hereby authorizes the
Creditor to freeze the amount returned by the opening bank of the counter party,
under such circumstance, the Debtor shall provide the payment order and such
transaction materials as the relevant supportive documents for loan use purpose
for the Creditor’s review again, after the examination and approval of the
Creditor, the loan will be paid to the Debtor’s counter party through the
Debtor’s bank account.

      

      The
Debtor shall not breach the above mentioned agreements, and shall not evade the
method for trusting the Creditor to pay the loan by splitting the loan into
pieces.

      

      
        	
                2.

              	
                In
      addition to the method for trusting the Creditor to pay the loan as agreed
      in the above, unless otherwise specified by both parties, the payment
      method for the other loan funds is:

              

      

      

      The
Debtor makes the payment by itself: namely, after the Creditor pays the loan to
the Debtor’s bank account according to the Debtor’s withdrawal application, the
Debtor then pays the loan to its counter party complying with the agreed fund
use purpose under this Agreement.  If there are material changes on
Debtor’s outward payment, the Debtor shall initiatively apply to the Creditor
for changing the payment method for the loan to be paid by the Debtor itself to
trusting the Creditor to pay such loan provided that such loan complies with the
requirements for trusting the Creditor to effect payment under this
Agreement.

      

      If the
Debtor makes the payment by itself, it shall report summaries on the payment of
the loan at regular intervals, and shall also guarantee that the payment of the
loan complies with the agreed fund use purpose.

       

      
        Article
7 Time
and Method of Withdrawal

      

       

      
        	
                1.

              	
                The
      Debtor shall withdraw money in line with the (2) method
    below:

              

      

       

        	  	
                (1) 

              	
                Withdrawal
      in a lump sum on /.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	  	
                (2) 

              	
                Withdrawal
      all the loan within 30 days from July 15,
2010.

              

      

       

      
        	  	
                (3) 

              	
                phased
      withdrawal according to the time
below:

              

      

       

      
        
          
            
              
                
                  
                    	
                            Time of withdrawal

                          	 	
                            Amount of withdrawal

                          
	 
      	 	 
      
	 
      	 	 
      
	 
      	 	 
      

                  

                

              

            

          

        

      

      
        	
                2.

              	
                The
      Creditor has the right to refuse the Debtor’s application for withdrawing
      the loan beyond its specified time.

              

      

       

      If the
Creditor agrees to release the loan, the Creditor has the right to charge
obligation fees according to / standard on the part of the delayed withdrawal;
if the Creditor refuses to release the loan, the Creditor has the right to
charge obligation fees according to / standard.

       

      
        Article
8 Repayment

      

       

      
        	
                1.

              	
                Unless
      otherwise specified herein, the Debtor shall repay the loan hereunder in
      accordance with the (1) repayment
plan:

              

      

       

      
        	  	
                (1) 

              	
                Repay
      the total loan hereunder at the expiration date of the loan term
      herein.

              

      

       

      
        	  	
                (2) 

              	
                Repay
      the loan hereunder according to the plans
below:

              

      

       

      
        
          
            
              
                
                  	
                          Time of Repayment

                        	 	
                          Amount of Repayment

                        
	 
      	 	 
      
	 
      	 	 
      

                

              

            

          

        

      

      In case
that the Debtor needs to change the above-mentioned repayment plans, the Debtor
should submit written application to the Creditor 10 banking days prior
to the maturity date of the corresponding loan. The amendment of repayment plans
shall be confirmed in written form by both parties.

       

      
        	
                2.

              	
                Unless
      otherwise agreed upon herein, in case that the Debtor delays to pay the
      principal and interest concurrently, the Creditor has the right to decide
      the priority of principal and interest repayment. In case of phased
      withdrawal, the Creditor has the right to decide the repayment priority
      for the multiple mature loans and overdue loans hereunder. If several loan
      Agreements between the Debtor and the Creditor become mature, the Creditor
      is entitled to decide the Agreement fulfillment priority as for each
      repayment.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                3.

              	
                Unless
      otherwise specified herein, the Debtor may prepay the loan but shall
      inform the Creditor in written form 7 banking days in advance. The amount
      of prepayment shall first compensate for the last mature loan and
      repayment shall follow the reverse
order.

              

      

       

      The
Creditor is entitled to charge a compensation fee equal to 30% of the prepayment
amount.

       

      
        	
                4.

              	
                The
      Debtor shall repay according to the (1) method
  below:

              

      

       

      
        	
              	
                (1)

              	
                The
      Debtor designates the bank account below as the account for purpose of
      loan repayment and shall report fund in-and-out information in a timely
      manner. The Debtor shall put adequate funds for repayment into the account
      3 banking days before the maturity of principal and interest; the Creditor
      is entitled to deduct and transfer the receivables at the maturity date
      from this account.

              

      

       

      Repayment
Account Name: Henan
Shuncheng Group Coal Coke Co., Ltd

       

      Account
Number: 

       

      
        	  	
                (2)

              	
                Other
      repayment methods agreed upon by both parties:
/

              

      

       

      
        Article
9 Guarantee

      

       

      
        	
                1.

              	
                The
      types of guarantee of the loan
hereunder:

              

      

       

      The
Anyang Xinlei Coal Chemical Group Co., Ltd. will provide a suretyship of joint
and several liability guarantee and enter into corresponding guarantee
Agreement;

       

      Wang
Xinshun will provide a suretyship of joint and several liability guarantee and
enter into corresponding guarantee Agreement;

       

      Wang
Xinming will provide a suretyship of joint and several liability guarantee and
enter into corresponding guarantee Agreement;

       

      Cheng
Junsheng will provide a suretyship of joint and several liability guarantee and
enter into corresponding guarantee Agreement;

       

      Henan
Shuncheng Group Coal Coke Co., Ltd. will provide asset mortgage guarantee and
enter into corresponding guarantee Agreement.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                2.

              	
                If
      the Debtor and the Guarantor encounter any incident which the Creditor
      deem as hindrance to their capability in fulfilling the Agreement; or the
      guarantee Agreement is null and void, rescinded or terminated; or the
      Debtor and the Guarantor encounter deterioration of financial status or
      get involved in material litigation or arbitration issues, or other
      factors may affect the performance capability; or the Guarantor breach the
      guarantee Agreement or other Agreements with the Creditor; or security
      encounters depreciation, damage, loss and seizure and its guarantee value
      weakens or loses, the Creditor has the right to demand and the Debtor is
      obligated to provide new guarantee or change the Guarantor in order to
      guarantee the loan hereunder.

              

      

       

      
        Article
10     Representations
and Warrants

      

       

      
        	
                1.

              	
                The
      Debtor has made representations
below:

              

      

       

      
        	
              	
                (1)

              	
                The
      Debtor has been established duly and exists in good standing with the full
      capacity for civil rights and capacity for civil conduct requiring for
      signing and performing this
Agreement;

              

      

       

      
        	
              	
                (2)

              	
                Signing
      and performing the Agreement is grounded in the true intentions of the
      Debtor and has been authorized lawfully and effectively according to rules
      and regulations or other internal management documents without breaching
      any binding agreement, Agreement or legal document of the Debtor. The
      Debtor has received or will receive all relevant approval, permission,
      documentation or registration necessary for signing and performing the
      Agreement;

              

      

       

      
        	
              	
                (3)

              	
                All
      documents, financial reports, receipts and other materials hereunder
      provided by the Debtor to the Creditor are true, complete, accurate and
      valid;

              

      

       

      
        	
              	
                (4)

              	
                The
      trade backgrounds of the business rendered by the Debtor to the Creditor
      are true and legal and not used for money laundering or other illegal
      purposes;

              

      

       

      
        	
              	
                (5)

              	
                The
      Debtor has not concealed any events with the potential of affecting the
      financial status and performance ability of the Debtor and the
      Guarantor;

              

      

       

      
        	
              	
                (6)

              	
                Other
      issues which the Debtor has stated.

              

      

       

      
        	
                2.

              	
                The
      Debtor warrants as below:

              

      

       

      
        	
              	
                (1)

              	
                The
      Debtor shall, in accordance with the Creditor’s requirements, provide
      true, complete and valid materials to the Creditor in time or at regular
      intervals, and report its financial statements (including without
      limitation annual report, quarterly report and monthly report) and other
      relevant materials to the Creditor; the Debtor shall ensure that it
      continuously satisfies the following financial indexes’ requirements :
      asset-liability ration is lower than 60%, times interest earned is more
      than twice, the ratio of cash flow to the liabilities in the operations is
      more than 3%, the inventory turnover ration is more than 150%, sales net
      profit rate is more than 1%, the sales growth rate is more than
      10%;

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
              	
                (2)

              	
                If
      the Debtor has signed or will sign counter-guarantee agreement or similar
      agreement on the guarantee obligations with the Guarantor hereof, the
      agreement shall not harm any right of the Creditor
    hereunder;

              

      

       

      
        	
              	
                (3)

              	
                The
      Debtor shall assist the Creditor on the management of the payment of the
      loan, on the on site investigation and voucher examination, in addition,
      the Debtor shall accept the Creditor’s credit check and supervision and
      give enough assistance and
cooperation;

              

      

       

      
        	
              	
                (4)

              	
                The
      Creditor has the right to recall the loan ahead of schedule according to
      the conditions of the funds return of the
  Debtor;

              

      

       

      
        	
              	
                (5)

              	
                The
      Creditor’s prior consent shall be obtained in case such material matters
      occur as investment, debt financing increased in fact, merger, split or
      share transfer etc;

              

      

       

      
        	
              	
                (6)

              	
                In
      case of the occurrence of events with possible effects on the financial
      status and performance capability of the Debtor and the Guarantor,
      including but not limited to any form of separation, merger, association,
      joint venture with foreign partners, cooperation, Agreement management,
      restructuring, reform, planning IPO and other changes of management modes,
      reduction in registered capital, transfer of major assets or equities,
      undertaking major liabilities, setting new liabilities on collaterals,
      security seizure, dissolution, repeal and being filed for bankruptcy, or
      involvement into major litigation or arbitration cases, or encountering
      operation difficulties or deterioration of financial status, or breach of
      other Agreements by the Debtor, the Debtor shall promptly inform the
      Creditor. If the Debtor takes any of the above-mentioned actions which may
      exert negative impacts on the payment capacity of the Debtor, the Debtor
      shall obtain consent from the Creditor in
  advance;

              

      

       

      
        	
              	
                (7)

              	
                The
      loan from the Creditor to the Debtor will precede loan from the Debtor’s
      shareholder in the settlement sequence and enjoy settlement priority no
      less than that from other
creditors;

              

      

       

      
        	
              	
                (8)

              	
                In
      case that net profit after tax in relevant fiscal year is zero or negative
      or inadequate to compensate for accumulated loss of past fiscal years, or
      pre-tax profit is not used for paying the principal, interest and fees in
      such a fiscal year or inadequate to clear next period of principal,
      interest and fees, the Debtor will not distribute dividend or bonus to
      shareholders in any form;

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
              	
                (9)

              	
                The
      Debtor will not dispose self-possessed assets by means of reducing
      solvency and commits that the total amount of guarantee will not surpass
      its net assets and the total amount of guarantee and single item of
      guarantee will not exceed the limitations stipulated by company
      regulations.

              

      

       

      
        	
              	
                (10)

              	
                During
      the payment of the loan, if the Debtor’s credit conditions decreases, its
      profitability of its main business is not strong, or its use of the loan
      is unusual, the Creditor shall consult with the Debtor on supplementary
      requirements for the grant and payment of the loan, or shall change the
      payment method as agreed in this Agreement or stop granting or paying the
      loan;

              

      

       

      
        	
              	
                (11)

              	
                Other
      events that the Debtor has committed itself to:
  /

              

      

       

      
        	
                Article
      11

              	
                Disclosure
      of Related Transactions inside the Debtor’s
  Group

              

      

       

      The
Debtor belongs to the group clients identified by the Creditor according to
Guidelines on the Management
of Risks of Credits Granted by Commercial Banks to Group Clients (the
“Guidelines”). The Debtor shall promptly report to the Creditor
situations on related transactions concerning over 10% of net asset, including
connected relations among transaction parties, transaction projects and nature,
the transaction amount or its corresponding proportion, pricing policy
(including transaction without price or only nominal price).

       

      The
Creditor has the right to unilaterally decide cease of loans yet to be used by
the Debtor and reclaim ahead of time all or part of the principal and interest
in case of any of the circumstances: making use of false Agreements with related
parties, bills and accounts receivable and other debts without actual
transaction backgrounds to obtain discount or hypothecation in banks and to
exchange for funds or accreditation from banks; occurrence of major mergers,
acquisitions and reshuffle which the Creditor deems as possible factors
affecting loan safety; intended evasion of bank debts through related
transactions; other situations stipulated in the Article 18 of the Guidelines.

       

      
        	
                Article
      12

              	
                Breach
      of Agreement and Disposal

              

      

       

      Any event
below shall constitute a breach of Agreement by the Debtor
hereunder:

       

      
        	
                1.

              	
                The
      Debtor fails to fulfill the obligation of payment and settlement to the
      Creditor in line with the
Agreement;

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                2.

              	
                The
      Debtor fails to effect payment by use of loan in a manner agreed
      herein;

              

      

       

      
        	
                3.

              	
                The
      Debtor fails to use the loan hereunder for the specified
      purpose;

              

      

       

      
        	
                4.

              	
                The
      Debtor makes fraudulent representations or violates the warrants
      herein;

              

      

       

      
        	
                5.

              	
                Under
      the circumstances of the occurrence of the events stipulated in Article
      10.2.(6), which the Creditor considers may affect the financial status and
      performance capacity of the Debtor and the Guarantor, the Debtor fails to
      provide new guarantee or change the Guarantor in accordance with
      Agreement;

              

      

       

      
        	
                6.

              	
                The
      Debtor’s credit standing getting bad, or the Debtor’s profit-making
      capacity, credit capacity, operation capacity and cash flow or other
      financial indicators getting worse, which leads to violate agreed
      financial indicators binding upon parties
  hereof.

              

      

       

      
        	
                7.

              	
                The
      Debtor breaches other Agreements signed with the Creditor or other BOC
      institutions;

              

      

       

      
        	
                8.

              	
                The
      Guarantor violates the guarantee Agreement or other Agreements signed with
      the Creditor or other BOC
institutions;

              

      

       

      
        	
                9.

              	
                Other
      cross-default events occur;

              

      

       

      
        	
                10.

              	
                The
      Debtor terminates business or encounters dissolution, cancellation of
      registration or bankruptcy;

              

      

       

      
        	
                11.

              	
                The
      Creditor finds any circumstance that may adversely affect the Debtor or
      the Guarantor’s financial conditions and credit capacity while the
      Creditor conducts annual review (each one year from the date on which the
      Agreement taking effective) on the Debtor’s financial conditions and
      credit capacity;

              

      

       

      
        	
                12.

              	
                The
      Debtor breaches other agreements pertinent to the rights and obligations
      of parties herein.

              

      

       

      In the
circumstances of occurrence of the above-mentioned breach of Agreement, the
Creditor has the right to take the following measures separately or jointly with
regard to specific situations:

       

      
        	
                1.

              	
                require
      the Debtor and the Guarantor to rectify their breach of Agreement within a
      limited period;

              

      

       

      
        	
                2.

              	
                reduce,
      suspend or terminate the line of credit to the Debtor wholly or
      partly;

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                3.

              	
                suspend
      or terminate completely or partly the acceptance of withdrawal application
      of the Debtor hereunder and under other Agreements between the Debtor and
      the Creditor; suspend or terminate the issuance the loans not yet released
      and the handling of trade financing yet to be stated wholly or
      partly;

              

      

       

      
        	
                4.

              	
                declare
      mature immediately all or part of the loan yet to be repaid / principal
      and interest of trade financing and other payables or reclaim them ahead
      of maturity;

              

      

       

      
        	
                5.

              	
                terminate
      or dissolve this Agreement; terminate or dissolve other Agreements between
      the Debtor and the Creditor wholly or
partly;

              

      

       

      
        	
                6.

              	
                demand
      compensation from the Debtor for the loss caused to the Creditor resulting
      from breach of Agreement;

              

      

       

      
        	
                7.

              	
                informing
      beforehand or afterwards, deduct and transfer funds from the account
      opened by the Debtor with the Creditor or other BOC institutions to clear
      all or part of debts which the Debtor owed to the Creditor hereunder;
      immature funds in the account are deemed to have matured in advance. In
      case that the account currency is not the same as the business currency of
      the Creditor, the account currency shall be converted based on the
      exchange settlement and sales rate published by the Creditor at the time
      of deduction;

              

      

       

      
        	
                8.

              	
                execute
      the mortgage right;

              

      

       

      
        	
                9.

              	
                require
      the Guarantor to undertake the guarantee
  obligation;

              

      

       

      
        	
                10.

              	
                Other
      necessary and possible measures considered by the
  Creditor.

              

      

       

      
        	
                Article
      13

              	
                Reservation
      of Rights

              

      

       

      If one
party fails to exercise part or whole rights hereunder, or to require the other
party to undertake part or whole liabilities and obligations, such shall not
constitute waiver of rights of that party or exemption from liabilities and
obligations of the other party.

       

      Any
tolerance, renewal or postponing exercise of the rights hereunder by one party
to the other shall neither adversely affect any right provided by the Agreement,
laws and regulations nor be deemed as waiver of such rights.

       

      
        	
                Article
      14

              	
                Alteration,
      Modification and Termination

              

      

       

      This
Agreement may be altered or modified in written form after bilateral
consultations and agreement. Any alteration or modification shall be an integral
part of this Agreement.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Unless
otherwise agreed upon in laws and regulations or by parties, this Agreement
shall not be terminated before the fulfillment of all rights and obligations
hereunder.

       

      Unless
otherwise provided by laws and regulations or agreed upon by parties, the
invalidity of any term or article hereof shall not affect the legal effect of
other terms or articles.

       

      
        	
                Article
      15

              	
                Law
      Application and Disputes Resolution

              

      

       

      This
Agreement shall be governed by laws of the People’s Republic of
China.

       

      After the
Agreement becomes effective, all disputes arising from the execution and
performance of this Agreement or related to this Agreement shall be settled
through consultations between two parties. If no agreement is reached through
consultations, either party may take the second measure below for
resolution:

       

      
        	
                1.

              	
                Submit
      to arbitration committee for arbitration, in accordance with the valid
      arbitration rules when the arbitration is filed, and to conduct the
      arbitration in _/_ (venue).

              

      

       

      
        	
                2.

              	
                Pursuant
      to law, file an action to the People’s Court in the place of domicile of
      the Creditor or other BOC institutions exercising rights and obligations
      in line with this Agreement or single
agreement.

              

      

       

      
        	
                3.

              	
                Pursuant
      to law, institute an action to the People’s Court with
      jurisdiction

              

      

       

      During
the resolution of disputes, if disputes do not affect performance of other terms
and articles, other terms and articles shall continue to be
performed.

       

      
        	
                Article
      16

              	
                Costs

              

      

       

      Unless
otherwise agreed upon in accordance with law or by parties, costs incurred in
Agreement conclusion and performance as well as disputes resolution (including
but not limited to attorney fees) shall be borne by the Debtor.

       

      
        	
                Article
      17

              	
                Annexes

              

      

       

      Annexes
below and other annexes recognized by both parties constitute an integral part
of this Agreement and have the same legal effect with this
Agreement.

       

      
        	
                1.

              	
                withdrawal
      application

              

      

       

      
        	
                2.

              	
                loan
      receipt

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                Article
      18

              	
                Other
      Agreements

              

      

       

      
        	
                1.

              	
                Without
      written agreement of the Creditor, the Debtor shall not assign any right
      or liability hereunder to a third
party.

              

      

       

      
        	
                2.

              	
                If
      the Creditor should entrust other BOC institutions as of performance of
      rights and liabilities hereunder due to business need, or assign the loan
      business hereunder to other BOC institutions for undertaking and
      management, the Debtor shall accept such arrangement. Other BOC
      institutions authorized by the Creditor or undertaking the loan business
      hereunder is entitled to exercise all rights hereunder, file a suit to
      courts on the disputes hereunder in their own names, and submit
      application to arbitration committees for arbitral awards or apply for
      compulsory enforcement.

              

      

       

      
        	
                3.

              	
                Under
      the circumstances of not affecting other agreements hereof, the Agreement
      is legally binding to the two parties as well as their successors and
      assignees produced in accordance with
law.

              

      

       

      
        	
                4.

              	
                Unless
      otherwise stipulated, either party appoints its place of domicile herein
      as the communication and contact address and commit themselves to timely
      informing the other in written form in case that communication and contact
      address changes.

              

      

       

      
        	
                5.

              	
                The
      transaction hereunder is based on respective interests. Pursuant to
      relevant laws, regulations and supervision requirements, if all
      transaction parties constitute related parties or related persons of the
      Creditor, all parties shall not use such connected relations to affect
      transaction fairness.

              

      

       

      
        	
                6.

              	
                The
      titles and business names herein are just used for convenient reference
      and shall not be used for interpreting content of terms and articles as
      well as rights and obligations of
parties.

              

      

       

      
        	
                Article
      19

              	
                Effectiveness
      of the Agreement

              

      

       

      This
Agreement shall come into force on the day on which it is stamped with company
seal and signed by legal representatives (persons in charge) or authorized
signatories of both parties.

       

      This
Agreement is executed in seven original copies; each party hereof holds one with
same legal effects. Each of the Debtor, the Creditor and the Guarantor holds one
original copy; and the department of real estate mortgage registration holds one
original copy.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Debtor:
Henan Shuncheng Group Coal Coke Co., Ltd.

       

      (Seal)

       

      Person in
Charge: (signature) /s/ Wang Xinshun

       

      Date:
July 20, 2010

       

      Creditor:
Anyang Branch, Bank of China (BOC)

       

      (Seal)

       

      Person in
Charge: (signature) /s/ illegible

       

      Date:
July 20, 2010

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