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                                                                    Exhibit 10.3

                        OPTION TO PURCHASE REAL PROPERTY

     FOR THE SUM OF $1.00 AND OTHER GOOD AND VALUABLE CONSIDERATION, the CITY OF
GARNETT, KANSAS, a municipal corporation organized and existing under the laws
of Kansas, ("Seller") hereby GIVES and GRANTS to East Kansas Agri-Energy, LLC
("Purchaser") the exclusive option to purchase the following described real
estate, situated in Anderson County, Kansas, to-wit:

          1.   All of Lots Three (3), Four (4) and Five (5), except the west 450
     feet of said Lot Three (3), in the Golden Prairie Industrial Park of the
     City of Garnett, Kansas.

          2.   An easement for railroad right of way to the Union Pacific
     Railroad Co. over, across the through Lot Two (2) in the Golden Prairie
     Industrial Park of the City of the City of Garnett, Kansas, to allow a spur
     from said railroad company's main line to the Plant site on the tract
     described in the immediately preceding paragraph.

          3.   A site of adequate size, anticipated to be on Lot Two (2) in the
     Golden Prairie Industrial Park of the City of Garnett, Kansas, to permit
     such necessary pumping equipment and storage basin as may be required to
     facilitate or permit delivery of raw water to your group at the Plant site
     from the City's existing line.

This option is given on the following terms and conditions:

                                   SECTION ONE
                                PERIOD OF OPTION

     This option may be exercised by giving notice thereof to Seller at City
Hall, Garnett, Kansas, at any time after the date hereof up to and including
December 1, 2002, at which time it shall expire. Seller may extend the period,
upon Buyer's application, upon such terms and conditions as appear appropriate
or necessary.

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                                   SECTION TWO
                           PRICE AND TERMS OF PAYMENT

     The purchase price for the property shall be $1.00 which shall be paid at
closing.

                                  SECTION THREE
                                      TITLE

     If the option is exercised, Seller shall within 15 days after the delivery
of the notice of exercise, secure and submit to Purchaser evidence of title by
preliminary title report of the Anderson County Abstract Company. Within 10 days
thereafter, Purchaser shall notify Seller in writing of any defects in or
objections to the title. Seller shall have a reasonable time to clear the title
of the defects and objections specified.

     If Seller fails to clear the title defects or objections so as to make the
title merchantable, or to submit evidence of his ability to do so prior to
closing, Purchaser may clear title to the extent so required and charge the cost
of clearing to seller or, at his option, may terminate the contract by giving 10
days notice to Seller.

     Title to the real estate shall be fully merchantable, free and clear of all
liens, encumbrances, restrictions, and easements except as appear of record;
provided, however, such conveyance shall be subject to Buyer's completing
construction and putting into operation an ethanol refining plant upon said
property. Such plant shall be completed without unnecessary delay following
closing of this transaction. If construction is not commenced within one year
from the date of closing, the title to the property shall revert to Seller.
Appropriate language to carry out these provisions shall be contained in the
warranty deed.

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                                  SECTION FOUR
                             CLOSING AND POSSESSION

     Closing shall be at Anderson County Abstract. Seller and Purchaser shall
execute any necessary escrow instructions reasonably required by said title
company.

     Taxes and assessments for the current year shall be pro rated between the
parties as of the date of closing. All other costs, including fees for the
owner's policy of title insurance, shall be paid by Buyer.

     Seller shall continue in possession of the property until closing.

                                  SECTION FIVE
                       OTHER CONDITIONS AND UNDERSTANDINGS

     Raw water, electrical energy, natural gas and waste water treatment utility
services to the said real estate shall be provided to the property by Seller in
its capacity as the utility supplier at rates to be determined. Seller states
its intent to be competitive in fixing such rates and shall base them on
engineering norms common to the industry, which among other considerations,
shall allow Seller to recover its capital costs of extending all utility
services to the property. In no case shall any of such rates be higher than the
most favorable rate at which such utility commodity or service is presently
sold. The volumes of such utility commodities and services shall be as called
for in the information presented by Buyer to the Seller in the August 8th, 2001,
meeting with the City Manager and the City Attorney. Potable water for drinking
and sanitation shall be provided to the property at the City's prevailing rate
as fixed by ordinance.

     The parties have discussed a variety of economic assistance measures that
Seller might provide or allow to Buyer to facilitate location of Buyer's ethanol
refining plant in the City of Garnett. An earlier letter of intent issued by
Seller to Buyer made specific reference to the parties' discussing this issue.
But, the value of the fee interest covered by this option agreement has been
appraised for Seller at $7,500 per acre. There are 23 acres, more or less, in
said

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description. The fee simple interest in said 23 acres, together with
easement rights which were not a part of said appraisal, have a value, if this
option is exercised by Buyer and the plant timely built to extinguish the
possibility of reverter, in excess of $172,500. Therefore, Seller states that it
intends this economic development incentive to be the only such incentive to be
offered to Buyer. Seller anticipates there will be matters on a project of this
magnitude that arise, some of which will involve either action(s) to be
performed by Seller or acquisition of other property or rights in property owned
by Seller. Seller states its intention to address these matters in the same
spirit of cooperation and encouragement evidenced by its allowance of the above
economic incentive. To that end, provision of any services by Seller shall be
provided at its cost and any rights in other property shall be transferred at
fair market value, as determined by the parties hereto or, failing that, by a
qualified appraiser.

                                   SECTION SIX
                            ASSIGNMENT AND SUCCESSION

     This option and the contract resulting from the exercise thereof shall bind
and inure to the benefit of the heirs, administrators, executors, successors,
and assigns of the respective parties.

     IN WITNESS WHEREOF, the parties have subscribed their names the day and
year first above written.

CITY OF GARNETT, KANSAS                    EAST KANSAS AGRI-ENERGY, LLC

by                                         by
  --------------------------------           ---------------------------------
R.G. Doran, City Manager                        President
       Seller                                   Buyer

STATE OF KANSAS          )
                         ) ss:
ANDERSON COUNTY          )

     SUBSCRIBED and SWORN to me before me on this ____ day of May, 2002, by
_________________________, President of East Kansas Agri-Energy, LLC.

                                             ----------------------------------
                                             Notary Public

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My appointment expires

______________________________.

STATE OF KANSAS          )
                         ) ss:
ANDERSON COUNTY          )

     SUBSCRIBED and SWORN to me before me on this ______ day of May, 2002, by
R.G. Doran, City Manager of the City of Garnett, Kansas, a municipal
corporation.

                                             ----------------------------------
                                             Notary Public

My appointment expires

________________________.<Page>

                                                                    Exhibit 10.4

                               OPTION TO PURCHASE

     Agreement made this 14th day of March, 2002, by and between Clarence L.
White and Berniece F. White, husband and wife, hereinafter "Owner" and East
Kansas Agri-Energy, L.L.C., a Kansas Limited Liability Company, hereinafter
"Purchaser".

     In consideration of the sum of $5,000.00 cash in hand paid from Purchaser
to Owner, the receipt of which is hereby acknowledged, the parties hereto agree
as follows:

     (1) Owner grants, bargains and conveys to Purchaser the option to purchase
a tract consisting of approximately ten (10) acres located in the following
described tract of real property situated in Anderson County, Kansas, to-wit:

       The Southwest Quarter (SW/4) of the Southeast Quarter (SE/4) of Section
       Thirty (30), Township Twenty (20) South, Range Twenty (20) East of the
       Sixth Principal Meridian.

     (2) The purchase price shall be $9,000.00 per acre, based upon the size of
the tract as to be determined by survey, and, that Purchaser shall receive
credit against the purchase price for the amount paid for this option.

     (3) The term of this option shall be for twelve (12) months from the date
hereof.

     (4) Purchaser shall exercise this option to purchase by delivering a
written notice of intent to exercise the option to the Owner at his residence in
Garnett, Kansas, no later than five o'clock p.m. (5:00 p.m.) on March 31, 2003.
Owner and Purchaser shall thereafter enter into a binding contract for the sale
and purchase of the tract of real estate describes herein, which contract shall
provide for a closing date and other essential terms to the contract.

     (5) The contract for the sale of this real estate shall contain the
following provisions:

         (A) The cost of surveying the tract to be purchased together with all
title insurance shall be paid by Purchaser.

         (B) The purpose of this option to purchase is to provide Purchaser with
a tract of sufficient size to allow the placement of a railroad spur over and
across the tract to

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Page 2
Option to Purchase

provide access from Purchaser's anticipated Ethanol Plant to the existing
railroad track located in the city of Garnett, Kansas. It is anticipated that
this will require approximately ten (10) acres of ground from Owner, however,
after Purchaser determines the amount of ground required, it will through its
survey cause the boundaries of the tract to be squared off, such that the
Western boundary of Owner's remaining property will be a straight line running
due North and South.

         (C) Purchaser will be responsible for replacing the Owner's boundary
fence at Purchaser's expense with a fence approximately equal to the new fence
constructed by City of Garnett Sewer Project, which is also located on property
formerly owned by Owner.

         (D) Purchaser will also pay to replace the current loafing barn and
concrete pad, together with a potable water hydrant and a dusk to dawn pole
light. The barn will be moved to the East of its present site and will be
provided with water and electric utilities.

     (6) This Option to Purchase cannot be assigned by Purchaser without the
written consent of Owner.

     (7) Time is of the essence in the performance of this agreement.

     (8) This agreement shall be binding upon the heirs, successors and assigns
of Owner and Purchaser.

     IN WITNESS WHEREOF, the parties hereto have set their hands on the day and
date above written.

OWNER:                                   PURCHASER:

                                         EAST KANSAS AGRI-ENERGY LLC

                                         By
----------------------------               -------------------------------------
Clarence L. White                        William R. Pracht
                                         Chairperson

----------------------------
Berniece F. White

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Page 3
Option to Purchase

STATE OF KANSAS            )
                       )
COUNTY OF ANDERSON     )

     The foregoing instrument was acknowledged before me this 29th day of March,
2002, by Clarence L. White and Berniece F. White, husband and wife.

Term Expires:

                                         ---------------------------------------
-----------------------------            Notary Public

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Page 4
Option to Purchase

STATE OF KANSAS            )
                       )   SS:
COUNTY OF ANDERSON     )

     The foregoing instrument was acknowledged before me this 27th day of March,
2002, by William R. Pracht, Chairperson of East Kansas Agri-Energy, L.L.C., a
Kansas Limited Liability Company, on behalf of the limited liability company.

Term Expires:
                                      -------------------------------------
-----------------------------         Notary Public

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