Document:

Exhibit 4.7.1(gg)  

Upon recording, return to:

Ms. Shawne M. Keenan

Sutherland Asbill & Brennan LLP

999 Peachtree Street, N.E.

Atlanta, Georgia 30309-3996  

PURSUANT TO §44-14-35.1 OF OFFICIAL CODE OF GEORGIA ANNOTATED, THIS INSTRUMENT EMBRACES,

COVERS AND CONVEYS SECURITY TITLE TO AFTER-ACQUIRED PROPERTY OF THE GRANTOR  

	

	

OGLETHORPE POWER CORPORATION

(AN ELECTRIC MEMBERSHIP CORPORATION),

GRANTOR, 

to 

SUNTRUST
BANK,

TRUSTEE 

THIRTY-SECOND SUPPLEMENTAL

INDENTURE  

Relating
to the

Series 2005 (Monroe) Note 

Dated
as of November 1, 2005 

FIRST
MORTGAGE OBLIGATIONS 

 

        THIS THIRTY-SECOND SUPPLEMENTAL INDENTURE, dated as of November 1, 2005, is between OGLETHORPE POWER
CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION), formerly known as Oglethorpe Power Corporation (An Electric Membership Generation & Transmission Corporation), an
electric membership corporation organized and existing under the laws of the State of Georgia, as Grantor (hereinafter called the "Company"), and SUNTRUST
BANK, formerly known as SunTrust Bank, Atlanta, a banking corporation organized and existing under the laws of the State of Georgia, as Trustee (in such capacity, the
"Trustee"). 

        WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of March 1, 1997 (hereinafter
called the "Original Indenture") for the purpose of securing its Existing Obligations and providing for the authentication and delivery of Additional Obligations by the Trustee from time to time under
the Original Indenture (capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Original Indenture); 

        WHEREAS, the Company has heretofore executed and delivered to the Trustee thirty- one Supplemental Indentures, and the Original Indenture
and the thirty-one Supplemental Indentures have been recorded as set forth on Schedule 1; 

        WHEREAS, the Development Authority of Monroe County (the "Monroe Authority") issued $143,710,000 in aggregate principal amount of
Development Authority of Monroe County Pollution Control Revenue Bonds (Oglethorpe Power Corporation Scherer Project), Series 1992A (the "Series 1992A Bonds"), of which $8,465,000 in
aggregate principal amount matures on January 1, 2006 (the "Series 1992A Maturities"); 

        WHEREAS, the Monroe Authority loaned the proceeds from the sale of the Series 1992A Bonds to the Company, with such loan being
evidenced by that certain Series 1992A Note, dated as of October 1, 1992 (the "Series 1992A Note"), from the Company to SunTrust Bank, formerly known as Trust Company Bank, as
trustee (in such capacity, the "Series 1992A Trustee"), as assignee and pledgee of the Monroe Authority pursuant to the Trust Indenture, dated as of October 1, 1992 (the
"Series 1992A Indenture"), between the Monroe Authority and the Series 1992A Trustee; 

        WHEREAS, the Monroe Authority has agreed to issue $8,465,000 in aggregate principal amount of Development Authority of Monroe County
Pollution Control Revenue Bonds (Oglethorpe Power Corporation Scherer Project), Series 2005 (the "Series 2005 Monroe Bonds"), the proceeds from the sale of which are to be loaned to the
Company pursuant to that certain Loan Agreement, dated as of November 1, 2005 (the "Series 2005 Monroe Loan Agreement"), between the Monroe Authority and the Company to refund the
Series 1992A Maturities and to make the related payments due on the Series 1992A Note; 

        WHEREAS, the Company's obligation to repay the loan of the proceeds of the Series 2005 Monroe Bonds is evidenced by that certain
Series 2005 (Monroe) Note, dated the date of its authentication, from the Company to SunTrust Bank, as trustee (in such capacity, the "Series 2005 Monroe Trustee"), as assignee and
pledgee of the Monroe Authority pursuant to the Trust Indenture, dated as of November 1, 2005 (the "Series 2005 Monroe Indenture"), between the Monroe Authority and the
Series 2005 Monroe Trustee; 

        WHEREAS, the Company desires to execute and deliver this Thirty-Second Supplemental Indenture, in accordance with the provisions of the
Original Indenture, for the purpose of (i) conveying and confirming unto the Trustee the property more particularly described on  Exhibit A, and (ii) providing for the creation and
designation of that certain Series 2005 (Monroe) Note, dated the date of its
authentication (the "Series 2005 (Monroe) Note"), from the Company to the Series 2005 Monroe Trustee, as assignee and pledgee of the Monroe Authority pursuant to the Series 2005
Monroe Indenture, as an Additional Obligation and specifying the form and provisions thereof (the Original 

2

 

Indenture,
as heretofore, hereby and hereafter supplemented and modified, being herein sometimes called the "Indenture"); 

        WHEREAS, Section 12.1 of the Original Indenture provides that, without the consent of the Holders of any of the Obligations, the
Company, when authorized by a Board Resolution, and the Trustee, may enter into Supplemental Indentures for the purposes and subject to the conditions set forth in said Section 12.1, including
to better assure, convey and confirm unto the Trustee any property subjected to the lien of the Indenture and to create additional series of Obligations under the Indenture and to make provisions for
such additional series of Obligations; and 

        WHEREAS, all acts and proceedings required by law and by the Articles of Incorporation and Bylaws of the Company necessary to secure under
the Indenture the payment of the principal of (and premium, if any) and interest on the Series 2005 (Monroe) Note, to make the Series 2005 (Monroe) Note to be issued hereunder, when
executed by the Company, authenticated and delivered by the Trustee and duly issued, the valid, binding and legal obligation of the Company, and to constitute the Indenture a valid and binding lien
for the security of the Series 2005 (Monroe) Note, in accordance with its terms, have been done and taken; and the execution and delivery of this Thirty-Second Supplemental Indenture has been
in all respects duly authorized by the Company; 

        NOW, THEREFORE, THIS THIRTY-SECOND SUPPLEMENTAL INDENTURE WITNESSES, that, to secure the payment of the principal of (and premium, if any)
and interest on the Outstanding Secured Obligations, including, when authenticated and delivered, the Series 2005 (Monroe) Note, to confirm the lien of the Indenture upon the Trust Estate,
including property purchased, constructed or otherwise acquired by the Company since the date of execution of the Original Indenture, to secure performance of the covenants therein and herein
contained, to declare the terms and conditions on which the Series 2005 (Monroe) Note is secured, and in consideration of the premises thereof and hereof, the Company by these presents does
grant, bargain, sell, alienate, remise, release, convey, assign, transfer, mortgage, hypothecate, pledge, set over and confirm to the Trustee, and its successors and assigns in the trust created
thereby and hereby, in trust, all property, rights, privileges and franchises (other than Excepted Property or Excludable Property) of the Company, whether now owned or hereafter acquired, of the
character described in the Granting Clauses of the Original Indenture, wherever located, including all such property, rights, privileges and franchises acquired since the date of execution of the
Original Indenture, including, without limitation, all property described in Exhibit A attached hereto, subject to all exceptions, reservations
and matters of the character referred to in the Indenture, and does grant a security interest therein for the purposes expressed herein and in the Original Indenture subject in all cases to Sections
5.2 and 11.2 B of the Original Indenture and to the rights of the
Company under the Original Indenture, including the rights set forth in Article V thereof; but expressly excepting and excluding from the lien and operation of the Indenture all properties of
the character specifically excepted as "Excepted Property" or "Excludable Property" in the Original Indenture to the extent contemplated thereby. 

        PROVIDED, HOWEVER, that if, upon the occurrence of an Event of Default, the Trustee, or any separate trustee or co-trustee
appointed under Section 9.14 of the Original Indenture or any receiver appointed pursuant to statutory provision or order of court, shall have entered into possession of all or substantially
all of the Trust Estate, all the Excepted Property described or referred to in Paragraphs A through H, inclusive, of "Excepted Property" in the Original Indenture then owned or thereafter acquired by
the Company, shall immediately, and, in the case of any Excepted Property described or referred to in Paragraphs I, J, L, N and P of "Excepted Property" in the Original Indenture (excluding the
property described in Section 2 of Exhibit B in the Original Indenture), upon demand of the Trustee or such other trustee or receiver,
become subject to the lien of the Indenture to the extent permitted by law, and the Trustee or such other trustee or receiver may, to the extent permitted by law, at the same time likewise take
possession thereof, and whenever all Events of Default shall have been cured and the possession of all or substantially all of the Trust Estate shall have been restored to the 

3

 

Company,
such Excepted Property shall again be excepted and excluded from the lien of the Indenture to the extent and otherwise as hereinabove set forth and as set forth in the Indenture. 

        The
Company may, however, pursuant to the Granting Clause Third of the Original Indenture, subject to the lien of the Indenture any Excepted Property or Excludable Property, whereupon
the same shall cease to be Excepted Property or Excludable Property. 

        TO HAVE AND TO HOLD all such property, rights, privileges and franchises hereby and hereafter (by a Supplemental Indenture or otherwise)
granted, bargained, sold, alienated, remised, released, conveyed, assigned, transferred, mortgaged, hypothecated, pledged, set over or confirmed as aforesaid, or intended, agreed or covenanted so to
be, together with all the tenements, hereditaments and appurtenances thereto appertaining (said properties, rights, privileges and franchises, including any cash and securities hereafter deposited or
required to be deposited with the Trustee (other than any such cash which is specifically stated in the Indenture not to be deemed part of the Trust Estate) being part of the Trust Estate), unto the
Trustee, and its successors and assigns in the trust herein created by the Indenture, forever. 

        SUBJECT, HOWEVER, to (i) Permitted Exceptions and (ii) to the extent permitted by Section 13.6 of the Original
Indenture as to property hereafter acquired (a) any duly recorded or perfected prior mortgage or other lien that may exist thereon at the date of the acquisition thereof by the Company and
(b) purchase money mortgages, other purchase money liens, chattel mortgages, conditional sales agreements or other title retention agreements created by the Company at the time of acquisition
thereof. 

        BUT IN TRUST, NEVERTHELESS, with power of sale, for the equal and proportionate benefit and security of the Holders from time to time of
all the Outstanding Secured Obligations without any priority of any such Obligation over any other such Obligation and for the enforcement of the payment of such Obligations in accordance with their
terms. 

        UPON CONDITION that, until the happening of an Event of Default and subject to the provisions of Article V of the Original
Indenture, and not in limitation of the rights elsewhere provided in the Original Indenture, including the rights set forth in Article V of the Original Indenture, the Company shall be
permitted to (i) possess and use the Trust Estate, except cash, securities, Designated Qualifying Securities and other personal property deposited, or required to be deposited, with the
Trustee, (ii) explore for, mine, extract, separate and dispose of coal, ore, gas, oil and other minerals, and harvest standing timber, and (iii) receive and use the rents, issues,
profits, revenues and other income, products and proceeds of the Trust Estate. 

        THE INDENTURE, INCLUDING THIS THIRTY-SECOND SUPPLEMENTAL INDENTURE, is intended to operate and is to be construed as a deed passing title
to the Trust Estate and is made under the provisions of the laws of the State of Georgia relating to deeds to secure debt, and not as a mortgage or deed of trust, and is given to secure the
Outstanding Secured Obligations. Should the indebtedness secured by the Indenture be paid according to the tenor and effect thereof when the same shall become due and payable and should the Company
perform all covenants contained in the Indenture in a timely manner, then the Indenture shall be canceled and surrendered. 

        AND IT IS HEREBY COVENANTED AND DECLARED that the Series 2005 (Monroe) Note is to be authenticated and delivered and the Trust
Estate is to be held and applied by the Trustee, subject to the covenants, conditions and trusts set forth herein and in the Indenture, and the Company does 

4

 

hereby
covenant and agree to and with the Trustee, for the equal and proportionate benefit of all Holders of the Outstanding Secured Obligations, as follows: 

ARTICLE I  

 THE SERIES 2005 (MONROE) NOTE AND

CERTAIN PROVISIONS RELATING THERETO  

Section 1.1    Authorization and Terms of the Series 2005 (Monroe) Note.  

        There shall be created and established an Additional Obligation in the form of a promissory note known as and entitled the "Series 2005 (Monroe) Note"
(hereinafter referred to as the "Series 2005 (Monroe) Note"), the form, terms and conditions of which shall be substantially as set forth in or prescribed pursuant to this Section and
Section 1.2 hereof. The aggregate principal amount of the Series 2005 (Monroe) Note which shall be authenticated and delivered and Outstanding at any one time is limited to $8,465,000. 

        The
Series 2005 (Monroe) Note shall be dated the date of its authentication. The Series 2005 (Monroe) Note shall mature on January 1, 2040 and shall bear interest
from the date of its authentication to the date of its maturity at rates calculated as provided for in the form of note prescribed pursuant to Section 1.2 hereof. The Series 2005
(Monroe) Note shall be authenticated and delivered to, and made payable to, SunTrust Bank, as trustee, in its capacity as the Series 2005 Monroe Trustee. 

        All
payments made on the Series 2005 (Monroe) Note shall be made to the Series 2005 Monroe Trustee at its principal office in Atlanta, Georgia in lawful money of the United
States of America which will be immediately available on the date payment is due. 

Section 1.2    Form of the Series 2005 (Monroe) Note.  

        The Series 2005 (Monroe) Note and the Trustee's certificate of authentication for the Series 2005 (Monroe) Note shall be substantially in the form
of Exhibit B attached hereto, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted in the
Original Indenture. 

ARTICLE II  

 MISCELLANEOUS  

Section 2.1    This Thirty-Second Supplemental Indenture is executed and shall be construed as an indenture supplemental to the
Original Indenture, and shall form a part thereof, and the Original Indenture, as heretofore supplemented and as hereby supplemented and modified, is hereby confirmed.
Except to the extent inconsistent with the express terms hereof, all of the provisions, terms, covenants and conditions of the Indenture shall be applicable to the Series 2005 (Monroe) Note to
the same extent as if specifically set forth herein. All references herein to Sections, definitions or other provisions of the Original Indenture shall be to such Sections, definitions and other
provisions as they may be amended or modified from time to time pursuant to the Indenture. All capitalized terms used in this Thirty-Second Supplemental Indenture shall have the same meanings assigned
to them in the Original Indenture, except in cases where the context clearly indicates otherwise. 

Section 2.2    All recitals in this Thirty-Second Supplemental Indenture are made by the Company only and not by the Trustee; and all
of the provisions contained in the Original Indenture, in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect hereof as fully and with like
effect as if set forth herein in full. 

5

 

Section 2.3    Whenever in this Thirty-Second Supplemental Indenture any of the parties hereto is named or referred to, this shall,
subject to the provisions of Articles IX and XI of the Original Indenture, be deemed to include the successors and assigns of such party, and all the covenants and agreements in this Thirty-Second
Supplemental Indenture contained by or on behalf of the Company, or by or on behalf of the Trustee shall, subject as aforesaid, bind and inure to the respective benefits of the respective successors
and assigns of such parties, whether so expressed or not. 

Section 2.4    Nothing in this Thirty-Second Supplemental Indenture, expressed or implied, is intended, or shall be construed, to
confer upon, or to give to, any person, firm or corporation, other than the parties hereto and the Holders of the Outstanding Secured Obligations, any right, remedy or claim under or by reason of this
Thirty-Second Supplemental Indenture or any covenant, condition, stipulation, promise or agreement hereof, and all the covenants, conditions, stipulations, promises and agreements in this
Thirty-Second Supplemental Indenture contained by or on behalf of the Company shall be for the sole and exclusive benefit of the parties hereto, and of the Holders of Outstanding Secured Obligations. 

Section 2.5    This Thirty-Second Supplemental Indenture may be executed in several counterparts, each of such counterparts shall for
all purposes be deemed to be an original, and all such counterparts, or as many of them as the Company and the Trustee shall preserve undestroyed, shall together constitute but one and the same
instrument. 

Section 2.6    To the extent permitted by applicable law, this Thirty-Second Supplemental Indenture shall be deemed to be a Security
Agreement and Financing Statement whereby the Company grants to the Trustee a security interest in all of the Trust Estate that is personal property or fixtures under the Uniform Commercial Code, as
adopted or hereafter adopted in one or more of the states in which any part of the properties of the Company are situated. The mailing address of the Company, as debtor is: 

2100
East Exchange Place

P. O. Box 1349

Tucker, Georgia 30085-1349, 

and
the mailing address of the Trustee, as secured party, is: 

SunTrust
Bank

Corporate Trust Department

Mail Code 008

25 Park Place, 24th Floor

Atlanta, Georgia 30303-2900. 

[Signatures
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6

        IN WITNESS WHEREOF, the parties hereto have caused this Thirty-Second Supplemental Indenture to be duly executed under seal as of the day
and year first written above. 

	Company:	 	OGLETHORPE POWER CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION), an electric membership corporation organized under the laws of the State of Georgia
	

 	
 	

By:	
 	

/s/  THOMAS A. SMITH      
 Thomas A. Smith

President and Chief Executive Officer
	

Signed, sealed and delivered

by the Company in the presence of:	
 	

Attest:	
 	

/s/  PATRICIA N. NASH      
 Patricia N. Nash

Secretary
	

/s/  CINDY A. UPCHURCH      
	
 	

 	
 	

[CORPORATE SEAL]
	Witness	 	 	 	 
	

/s/  THOMAS J. BRENDIAR      
	
 	

 	
 	

 
	Notary Public	 	 	 	 
	

(Notarial Seal)	
 	

 	
 	

 
	

My commission expires: January 27, 2009	
 	

 	
 	

 

[Signatures
Continued on Next Page] 

[Signatures
Continued from Previous Page] 

	Trustee:	 	SUNTRUST BANK, a banking corporation organized and existing under the laws of the State of Georgia
	

 	
 	

By:	
 	

/s/  GEORGE HOGAN      
 Authorized Officer
	Signed, sealed and delivered

by the Trustee in the Presence of:	 	 	 	 
	

/s/  SYRA ARZU      
 Witness	
 	

By:	
 	

/s/  JACK ELLERIN      
 Authorized Officer
	

/s/  TIM SPEAKMAN      
 Notary Public	
 	

 	
 	

 
	

(Notarial Seal)	
 	

 	
 	

 
	

My commission expires: January 12, 2008	
 	

 	
 	

 

   Exhibit A  

        All right, title and interest of the Company in and to the electric generating plants and facilities and electric transmission and distribution lines and
facilities now owned by the Mortgagor and located in the Counties of Appling, Ben Hill, Burke, Carroll, Clarke, Cobb, DeKalb, Floyd, Heard, Jackson, Monroe, Talbot, and Toombs, State of Georgia, or
hereafter constructed or acquired by the Company, wherever located, and in and to all extensions and improvements thereof and additions thereto, including all substations, service and connecting lines
(both overhead and underground), poles, towers, posts, cross arms, wires, cables, conduits, mains, pipes, tubes, transformers, insulators, meters, electrical connections, lamps, fuses, junction boxes,
fixtures, appliances, generators, dynamos, water turbines, water wheels, boilers, steam turbines, motors, switch boards, switch racks, pipe lines, machinery, tools, supplies, switching and other
equipment, and any and all other property of every nature and description, used or acquired for use by the Company in connection therewith and including, without limitation, the following described
property, to-wit: 

	1.
	PARCEL NO. 98-2A

        A
30% undivided interest in All that tract or parcel of land situate, lying and being in Land Lot 171 of the 5th District of Monroe County, Georgia, and being more
particularly described as follows: TO ESTABLISH THE POINT OF BEGINNING, commence on the Southeasterly line of the 200-foot right-of-way of the Norfolk-Southern
Railroad at its intersection with the dividing line between lands now or formerly of James Wade Williams, Jr., and lands of Georgia Power Company, said point of intersection being marked by a
15/8-inch open top pipe found; extending thence South 22° 10' 59" East along the dividing line between lands now or formerly of James Wade Williams, Jr., and
lands of Georgia Power Company a distance of 116.54 feet to a point marked by a 1/2 inch rebar found, said point being a corner common to lands now or formerly of James Wade Williams,
Jr., and lands of Suree W. Bryson, and also being the POINT OF BEGINNING; thence from said POINT OF BEGINNING North 76° 14' 15" East along the dividing line between lands now or formerly
of James Wade Williams, Jr., and lands of Suree W. Bryson a distance of 80.07 feet to a point; thence in a general Southwesterly direction along a curve to the left, having a radius of 1176.85 feet
and an arc distance of 108.53 feet, with a chord bearing and distance of South 24° 42' 27" West 108.49 feet to a point on the dividing line between lands of Georgia Power Company and lands
of Suree W. Bryson; thence North 22° 10' 59" West along said dividing line a distance of 85.87 feet to the POINT OF BEGINNING, said tract containing 0.076 acre, more or less. 

        The
above described tract of land is more particularly shown on plat prepared for Georgia Power Company by Metro Engineering and Surveying Co., Inc., Chester M. Smith, Jr.,
Georgia Registered Land Surveyor No. 1445, entitled Plant Scherer Additional Property, and designated Drawing Number "H-721-4", on file in the offices of Georgia Power
Company and recorded in Plat Book 25, Page 204, in the Office of the Clerk of Superior Court, Monroe County, Georgia. Said plat, by reference thereto, is made a part hereof. 

	2.
	Parcel No. 98-2W

        A
30% undivided interest in All that tract or parcel of land situate, lying and being in Land Lots 171 and 178 of the 5thDistrict of Monroe County, Georgia, and being more
particularly described as follows: BEGINNING on the Southwesterly right-of-way line of U.S. Highway #23 (State Route #87) at its intersection with the Southeasterly
right-of-way line of the Norfolk-Southern Railroad, said point of intersection being marked by a 2-inch open top pipe found; thence from said POINT OF BEGINNING
South 26° 34' 21" East along said Southwesterly right-of-way line of U.S. Highway #23 (State Route #87) a distance of 103.19 feet to a point; thence South
45° 20' 09" West a distance of 159.59 feet to a point; thence in a general Southwesterly direction along a curve to the right, having a radius of 1627.15 feet and an arc distance of 420.14
feet, with a chord bearing and distance of South 55° 17' 34" West 418.98 feet to a point on the dividing line between lands now or formerly of James Wade Williams, Jr., and lands of Mike
Taylor; thence North 36° 39' 10" West along said dividing line a distance of 151.05 feet to its intersection with the Southeasterly right-of-way line of the
Norfolk- 

A-1

 

Southern
Railroad, said point of intersection being marked by a 2-inch open top pipe found; thence in a general Northeasterly direction along said railroad
right-of-way along a curve to the left, having a radius of 1478.20 feet and an arc distance of 241.67 feet, with a chord bearing and distance of North 59° 04' 09"
East 241.40 feet to a point; continuing thence South 35° 36' 51" East along said railroad right-of-way a distance of 50.00 feet to a point; continuing thence in a
general Northeasterly direction along said railroad right-of-way along a curve to the left, having a radius of 1528.20 feet and an arc distance of 168.29 feet, with a chord
bearing and distance of North 51° 13' 09" East 168.20 feet to a point; continuing thence North 45° 20' 09" East along said railroad right-of-way a
distance of 189.30 feet to the POINT OF BEGINNING, said tract containing 1.612 acres, more or less. 

        The
above described tract of land is more particularly shown on plat prepared for Georgia Power Company by Metro Engineering and Surveying Co., Inc., Chester M. Smith, Jr.,
Georgia Registered Land Surveyor No. 1445, entitled Plant Scherer Additional Property, and designated Drawing Number "H-721-15", on file in the offices of Georgia Power
Company and
recorded in Plat Book 25, Page 203, in the Office of the Clerk of Superior Court, Monroe County, Georgia. Said plat, by reference thereto, is made a part hereof. 

	3.
	Parcel No. 98-2Z

        A
30% undivided interest in All that tract or parcel of land situate, lying and being in Land Lots 171 and 178 of the 5thDistrict of Monroe County, Georgia, and being more
particularly described as follows: BEGINNING on the Southeasterly line of the 200-foot right-of-way of Norfolk-Southern Railroad at a 2-inch
open-top pipe found marking a corner common to lands now or formerly of Mike Taylor and lands of James Wade Williams, Jr.; thence from said POINT OF BEGINNING South 36° 39' 10"
East along the dividing line between lands now or formerly of Mike Taylor and lands of James Wade Williams, Jr., a distance of 289.25 feet to a 2-inch open-top pipe found;
continuing thence South 72° 39' 00" East along said dividing line a distance of 224.34 feet to a 2-inch open-top pipe found; continuing thence South 18°
14' 23" East along said dividing line a distance of 261.04 feet to a 2-inch pipe with cap found, marking a corner common to lands now or formerly of Suree W. Bryson and lands of James Wade
Williams, Jr.; thence South 76° 14' 15" West along the dividing line between lands now or formerly of Suree W. Bryson and lands of James Wade Williams, Jr., a distance of 1772.49 feet to a
1/2-inch rebar found on the Northeasterly property line of lands now or formerly of Georgia Power Company; thence North 22° 10' 59" West along the dividing line
between lands now or formerly of Georgia Power Company and lands of James Wade Williams, Jr., a distance of 116.54 feet to a 5/8-inch open-top pipe found on the
Southeasterly line of the 200-foot right-of-way of Norfolk-Southern Railroad; thence in a general Northeasterly direction along said Southeasterly
right-of-way line along a curve to the right, having a radius of 1325.80 feet and an arc distance of 819.38 feet, with a chord bearing and distance of North 46° 11'
24" East 806.40 feet to a point; continuing thence in a general Northeasterly direction along said Southeasterly right-of-way line, the following courses and distances: North
66° 35' 09" East 192.90 feet to a point; North 67° 54' 09" East 377.10 feet to a point; and North 66° 02' 17" East 206.55 feet to the POINT OF BEGINNING, said tract
containing 18.83 acres, more or less. 

        The
above described tract of land is more particularly shown on plat prepared for Georgia Power Company by Metro Engineering and Surveying Co., Inc., Chester M. Smith, Jr.,
Georgia Registered Land Surveyor No. 1445, entitled Plant Scherer Additional Property, and designated Drawing Number "H-721-5", on file in the offices of Georgia Power
Company and recorded in Plat Book 25, Page 193, in the Office of the Clerk of Superior Court, Monroe County, Georgia. Said plat, by reference thereto, is made a part hereof. 

        TOGETHER
WITH the easement rights arising under that certain Easement from Luther F. Weaver and Flora W. Weaver to James Wade Williams, Jr., dated October 4, 1996, filed for
record October 4, 1996, at 2:38 p.m., recorded in Deed Book 504, Page 97, Records of Monroe County, Georgia, and the
easement rights arising under that certain Easement from Suree W. Bryson to James Wade Williams, Jr., dated November 5, 1997, filed for record November 5, 1997, at 11:42 a.m.,
recorded in Deed Book 540, Page 95, aforesaid Records. 

A-2

   Exhibit B  

[Form of Series 2005 (Monroe) Note]

THIS
NOTE IS NON-TRANSFERABLE EXCEPT AS MAY BE REQUIRED TO EFFECT ANY TRANSFER TO ANY SUCCESSOR TRUSTEE UNDER THE TRUST INDENTURE, DATED AS OF NOVEMBER 1, 2005, BETWEEN THE DEVELOPMENT
AUTHORITY OF MONROE COUNTY AND SUNTRUST BANK, AS TRUSTEE. 

OGLETHORPE
POWER CORPORATION

(AN ELECTRIC MEMBERSHIP CORPORATION) 

SERIES
2005 (MONROE) NOTE            DATE: November 22, 2005 

(SCHERER
PROJECT) 

        OGLETHORPE
POWER CORPORATION (AN ELECTRIC MEMBERSHIP CORPORATION) ("Oglethorpe"), an electric membership corporation organized and existing under the laws of the State of Georgia, for
value received and in consideration of the agreement of the Development Authority of Monroe County (the "Monroe Authority") to issue $8,465,000 in aggregate principal amount of Development Authority
of Monroe County Pollution Control Revenue Bonds (Oglethorpe Power Corporation Scherer Project), Series 2005 (the "Series 2005 Monroe Bonds"), hereby promises to pay to SunTrust Bank
(the "Series 2005 Monroe Trustee"), as assignee and pledgee of the Monroe Authority, acting pursuant to the Trust Indenture, dated as of November 1, 2005, from the Monroe Authority to
the Series 2005 Monroe Trustee (the "Series 2005 Indenture"), or its successor in trust, the principal sum of $8,465,000, together with interest and prepayment premium (if any) thereon
as follows: 

        (a)   on
or before each Interest Payment Date (as defined in the Series 2005 Indenture), a sum which will equal the interest on the Series 2005 Monroe Bonds
which will become due on such Interest Payment Date on the Series 2005 Monroe Bonds; and 

        (b)   on
or before January 1, 2040, a sum which will equal the principal amount of the Series 2005 Monroe Bonds which will become due on January 1, 2040;
and 

        (c)   on
or before any redemption date for the Series 2005 Monroe Bonds, a sum equal to the principal of, redemption premium (if any) and interest on, the
Series 2005 Monroe Bonds which are to be redeemed on such date. 

        This
Series 2005 (Monroe) Note evidences the Loan (as defined in the Agreement hereinafter referred to) of the Monroe Authority to Oglethorpe and the obligation to repay the same
and shall be governed by and shall be payable in accordance with the terms, conditions and provisions of the Loan Agreement, dated November 1, 2005 (the "Agreement"), between the Monroe
Authority and Oglethorpe, pursuant to which the Monroe Authority has agreed to loan to Oglethorpe the proceeds from the sale of the Series 2005 Monroe Bonds. 

        This
Series 2005 (Monroe) Note is a duly authorized obligation of Oglethorpe issued under and equally and ratably secured by the Indenture, dated as of March 1, 1997 (the
"Original Indenture"), as heretofore supplemented and as supplemented by the Thirty-First Supplemental Indenture, dated as of November 1, 2005, and the Thirty-Second Supplemental Indenture,
dated as of November 1, 2005, between Oglethorpe, as grantor, and SunTrust Bank, formerly known as SunTrust Bank, Atlanta, as trustee (in such capacity, the "Indenture Trustee"), (the Original
Indenture, as supplemented, the "Indenture"). Reference is hereby made to the Indenture for a statement of the description of the properties thereby mortgaged, pledged and assigned, the nature and
extent of the security and the respective rights, limitations of rights, duties and immunities thereunder of Oglethorpe, the Indenture Trustee and the holder of this Series 2005 (Monroe) Note
and of the terms upon which this Series 2005 

B-1

 

(Monroe)
Note is authenticated and delivered. This Series 2005 (Monroe) Note is created by the Thirty-Second Supplemental Indenture and designated as the "Series 2005 (Monroe) Note." 

        All
payments hereon are to be made to the Series 2005 Monroe Trustee at its principal office in Atlanta, Georgia, in lawful money of the United States of America which will be
immediately available
on the day payment is due. As set forth in Section 4.6 of the Agreement, the obligation of Oglethorpe to make the payments required hereunder shall be absolute and unconditional. 

        Oglethorpe
shall be entitled to certain credits against payments required to be made hereunder as provided in Section 4.3 of the Agreement. 

        This
Series 2005 (Monroe) Note may be prepaid upon the terms and conditions set forth in Article VIII of the Agreement. 

        If
the Series 2005 Monroe Trustee shall accelerate payment of the Series 2005 Monroe Bonds, all payments on this Series 2005 (Monroe) Note shall be declared due and
payable in the manner and with the effect provided in the Agreement. The Agreement provides that, under certain conditions, such declaration shall be rescinded by the Series 2005 Monroe
Trustee. 

        No
recourse shall be had for the payments required hereby or for any claim based herein or in the Agreement or in the Indenture against any officer, director or member, past, present or
future, of Oglethorpe as such, either directly or through Oglethorpe, or under any constitutional provision, statute or rule of law or by the enforcement of any assessment or by any legal or equitable
proceedings or otherwise. 

        This
Series 2005 (Monroe) Note shall not be entitled to any benefit under the Indenture and shall not become valid or obligatory for any purposes until the Indenture Trustee shall
have signed the form of authentication certificate endorsed hereon. 

        This
Series 2005 (Monroe) Note shall be governed by and construed in accordance with the laws of the State of Georgia. 

B-2

 

        IN WITNESS WHEREOF, Oglethorpe has caused this Series 2005 (Monroe) Note to be executed in its corporate name by its President and
Chief Executive Officer and attested by its Secretary and its corporate seal to be hereunto affixed. 

	 	 	OGLETHORPE POWER CORPORATION

(AN ELECTRIC MEMBERSHIP CORPORATION)
	
 	
 	

By:	
 	

    
 Thomas A. Smith

President and Chief Executive Officer
	

(SEAL)	
 	

 	
 	

 
	

Attest:	
 	

 	
 	

 
	

    
 Patricia N. Nash

Secretary	
 	

 	
 	

 

B-3

 
TRUSTEE'S CERTIFICATE OF AUTHENTICATION  

        This is one of the Obligations of the series designated therein referred to in the within mentioned Indenture. 

	 	 	SUNTRUST BANK, as Trustee
	
 	
 	

By:	
 	

    
 Authorized Signatory

B-4

Schedule 1  

RECORDING
INFORMATION

FOR

                        COUNTY, GEORGIA 

	DOCUMENT
 
	 	RECORDING

INFORMATION
	 	DATE OF

RECORDING

	Indenture	 	 	 	 
	First Supplemental Indenture	 	 	 	 
	Second Supplemental Indenture	 	 	 	 
	Third Supplemental Indenture	 	 	 	 
	Fourth Supplemental Indenture	 	 	 	 
	Fifth Supplemental Indenture	 	 	 	 
	Sixth Supplemental Indenture	 	 	 	 
	Seventh Supplemental Indenture	 	 	 	 
	Eighth Supplemental Indenture	 	 	 	 
	Ninth Supplemental Indenture	 	 	 	 
	Tenth Supplemental Indenture	 	 	 	 
	Eleventh Supplemental Indenture	 	 	 	 
	Twelfth Supplemental Indenture	 	 	 	 
	Thirteenth Supplemental Indenture	 	 	 	 
	Fourteenth Supplemental Indenture	 	 	 	 
	Fifteenth Supplemental Indenture	 	 	 	 
	Sixteenth Supplemental Indenture	 	 	 	 
	Seventeenth Supplemental Indenture	 	 	 	 
	Eighteenth Supplemental Indenture	 	 	 	 
	Nineteenth Supplemental Indenture	 	 	 	 
	Twentieth Supplemental Indenture	 	 	 	 
	Twenty-First Supplemental Indenture	 	 	 	 
	Twenty-Second Supplemental Indenture	 	 	 	 
	Twenty-Third Supplemental Indenture	 	 	 	 
	Twenty-Fourth Supplemental Indenture	 	 	 	 
	Twenty-Fifth Supplemental Indenture	 	 	 	 
	Twenty-Sixth Supplemental Indenture	 	 	 	 
	Twenty-Seventh Supplemental Indenture	 	 	 	 
	Twenty-Eighth Supplemental Indenture	 	 	 	 
	Twenty-Ninth Supplemental Indenture	 	 	 	 
	Thirtieth Supplemental Indenture	 	 	 	 
	Thirty-First Supplemental Indenture	 	Filed simultaneously with

Thirty-Second Supplemental IndentureExhibit 4.10

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS
SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER
LOAN SECURED BY SUCH SECURITIES.

                          COMMON STOCK PURCHASE WARRANT

                   To Purchase 355,698 Shares of Common Stock

                                       of

                                 PURE Bioscience

     THIS COMMON STOCK PURCHASE WARRANT CERTIFIES that, for value received,
Taglich Brothers, Inc. (the "Holder"), is entitled, upon the terms and subject
to the limitations on exercise and the conditions hereinafter set forth, at any
time on or after March 24, 2006 (the "Initial Exercise Date"), and on or prior
to the close of business on March 24, 2011 (the "Termination Date"), but not
thereafter, to subscribe for and purchase from PURE Bioscience, a corporation
incorporated in the State of California (the "Company"), up to 355,698 shares
(the "Warrant Shares") of Common Stock of the Company (the "Common Stock"). The
initial purchase price of one share of Common Stock under this Warrant shall be
$2.556 (the "Initial Exercise Price"), subject to adjustment herein. The Initial
Exercise Price and the number of Warrant Shares for which the Warrant is
exercisable shall be subject to adjustment as provided herein. Capitalized terms
used and not otherwise defined herein shall have the meanings set forth in that
certain Common Stock Purchase Agreement, dated March __, 2006, between the
Company and the purchasers signatory thereto (as amended or supplemented from
time to time, the "Purchase Agreement").

     1. Title to Warrant. Prior to the Termination Date and subject to
compliance with applicable laws and Section 7 of this Warrant, this Warrant and
all rights hereunder are transferable, in whole or in part, at the office or
agency of the Company by the Holder in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto
properly endorsed. The transferee shall sign an investment letter in form and
substance reasonably satisfactory to the Company.

                                       1
<PAGE>
     2. Authorization of Shares. The Company covenants that all Warrant Shares
which may be issued upon the exercise of the purchase rights represented by this
Warrant will, upon exercise of the purchase rights represented by this Warrant,
be duly authorized, validly issued, fully paid and nonassessable and free from
all taxes, liens and charges in respect of the issue thereof (other than taxes
in respect of any transfer occurring contemporaneously with such issue).

     3. Exercise of Warrant.

          (a) Except as provided in Section 4 of this Warrant, exercise of the
     purchase rights represented by this Warrant, in whole or in part, may be
     made at any time or times on or after the Initial Exercise Date and on or
     before the Termination Date by the surrender of this Warrant and the Notice
     of Exercise Form annexed hereto duly executed, at the office of the Company
     (or such other office or agency of the Company as it may designate by
     notice in writing to the registered Holder at the address of such Holder
     appearing on the books of the Company) and upon payment of the Exercise
     Price (as defined below) for the number of Warrant Shares with respect to
     which this Warrant is then being exercised, payable at the Holder's
     election (i) by certified or official bank check or by wire transfer to an
     account designated by the Company, (ii) by "cashless exercise" by surrender
     to the Company for cancellation of a portion of this Warrant representing
     that number of unissued Warrant Shares which is equal to the quotient
     obtained by dividing (A) the product obtained by multiplying the Exercise
     Price by the number of Warrant Shares being purchased upon such exercise by
     (B) the Per Share Market Value as of the date of such exercise, or (iii) by
     a combination of the foregoing methods of payment selected by the Holder.
     In any case where the consideration payable upon such exercise is being
     paid in whole or in part pursuant to the provisions of clause (ii) of this
     Section 3(a), such exercise shall be accompanied by written notice from the
     Holder of this Warrant specifying the manner of payment thereof and
     containing a calculation showing the number of Warrant Shares with respect
     to which rights are being surrendered thereunder and the net number of
     shares to be issued after giving effect to such surrender. "Per Share
     Market Value" means on any particular date (A) the closing price per share
     of the Common Stock on such date on the OTC Bulletin Board or another
     registered national stock exchange on which the Common Stock is then
     listed, or if there is no such price on such date, then the closing price
     on such exchange or quotation system on the date nearest preceding such
     date, or (B) if the Common Stock is not then reported by the OTC Bulletin
     Board or the Pink Sheets LLC (or any similar organization or agency
     succeeding to its functions of reporting prices), then the average of the
     "Pink Sheet" quotes for the relevant conversion period, as determined in
     good faith by the Holder, or (C) if the Common Stock is not then publicly
     traded, the fair market value of a share of Common Stock as determined by
     an Independent Appraiser selected in good faith by the Holder; provided,
     however, that the Company, after receipt of the determination by such
     Independent Appraiser, shall have the right to select an additional
     Independent Appraiser, in which case, the fair market value shall be equal
     to the average of the determinations by each such Independent Appraiser;
     and provided, further that all determinations of the Per Share Market Value
     shall be appropriately adjusted for any stock dividends, stock splits or
     other similar transactions during such period. The determination of fair
     market value by an Independent Appraiser shall be based upon the fair
     market value of the Company determined on a going concern basis as between
     a willing buyer and a willing seller and taking into account all relevant
     factors determinative of value, and shall be final and binding on all
     parties. In determining the fair market value of any shares of Common
     Stock, no consideration shall be given to any restrictions on transfer of
     the Common Stock imposed by agreement or by Federal or state securities
     laws, or to the existence or absence of, or any limitations on, voting
     rights. "Independent Appraiser" means a nationally recognized or major
     regional investment banking firm or firm of independent certified public
     accountants of recognized standing (which may be the firm that regularly
     examines the financial statements of the Company) that is regularly engaged
     in the business of appraising the capital stock or assets of corporations
     or other entities as going concerns, and which is not affiliated with
     either the Company or the Holder.

                                       2
<PAGE>
          (b) Upon payment of the Exercise Price pursuant to Section 3(a) of
     this Warrant, the Holder shall be entitled to receive a certificate for the
     number of Warrant Shares so purchased. Certificates for shares purchased
     hereunder shall be delivered to the Holder within five (5) Trading Days
     after the date on which this Warrant shall have been exercised as
     aforesaid. This Warrant shall be deemed to have been exercised and such
     certificate or certificates shall be deemed to have been issued, and the
     Holder or any other person so designated to be named therein shall be
     deemed to have become a holder of record of such shares for all purposes,
     as of the date the Warrant has been exercised, by payment to the Company of
     the Exercise Price and all taxes required to be paid by the Holder, if any,
     pursuant to Section 5 of this Warrant, prior to the issuance of such
     shares. "Trading Day" means (i) a day on which the Common Stock is traded
     on the OTC Bulletin Board, or (ii) if the Common Stock is not listed on the
     OTC Bulletin Board, a day on which the Common Stock is traded on any other
     registered national stock exchange, or (iii) if the Common Stock is not
     traded on the OTC Bulletin Board or any other registered national stock
     exchange, a day on which the Common Stock is quoted in the over-the-counter
     market as reported by the Pink Sheets LLC (or any similar organization or
     agency succeeding its functions of reporting prices); provided, however,
     that in the event that the Common Stock is not listed or quoted as set
     forth in (i), (ii) and (ii) of this Section 3(b), then Trading Day shall
     mean any day except Saturday, Sunday and any day which shall be a legal
     holiday or a day on which banking institutions in the State of New York are
     authorized or required by law or other government action to close.

          (c) If the Company fails to deliver to the Holder a certificate or
     certificates representing the Warrant Shares pursuant to Section 3(b) of
     this Warrant by the close of business on the fifth Trading Day after the
     date of exercise, then the Holder will have the right to rescind such
     exercise. In addition, if the Company fails to deliver to the Holder a
     certificate or certificates representing the Warrant Shares pursuant to an
     exercise by the close of business on the fifth Trading Day after the date
     of exercise, and if after such fifth Trading Day the Holder is required by
     its broker to purchase (in an open market transaction or otherwise) shares
     of Common Stock to deliver in satisfaction of a sale by the Holder of the
     Warrant Shares which the Holder anticipated receiving upon such exercise (a
     "Buy-In"), then the Company shall (i) pay in cash to the Holder the amount
     by which (x) the Holder's total purchase price (including brokerage
     commissions, if any) for the shares of Common Stock so purchased exceeds
     (y) the amount obtained by multiplying (A) the number of Warrant Shares
     that the Company was required to deliver to the Holder in connection with
     the exercise at issue times (B) the price at which the sell order giving
     rise to such purchase obligation was executed, and (ii) at the option of
     the Holder, either reinstate the portion of the Warrant and equivalent
     number of Warrant Shares for which such exercise was not honored or deliver
     to the Holder the number of shares of Common Stock that would have been
     issued had the Company timely complied with its exercise and delivery
     obligations hereunder. For example, if the Holder purchases Common Stock
     having a total purchase price of $11,000 to cover a Buy-In with respect to
     an attempted exercise of Warrant Shares with an aggregate sale price giving
     rise to such purchase obligation of $10,000, under clause (i) of the
     immediately preceding sentence the Company shall be required to pay the
     Holder $1,000. The Holder shall provide the Company written notice
     indicating the amounts payable to the Holder in respect of the Buy-In,
     together with applicable confirmations and other evidence reasonably
     requested by the Company. Nothing herein shall limit a Holder's right to
     pursue any other remedies available to it hereunder, at law or in equity
     including, without limitation, a decree of specific performance and/or
     injunctive relief with respect to the Company's failure to timely deliver
     certificates representing Warrant Shares upon exercise of this Warrant as
     required pursuant to the terms hereof.

                                       3
<PAGE>
          (d) If this Warrant shall have been exercised in part, the Company
     shall, at the time of delivery of the certificate or certificates
     representing Warrant Shares, deliver to the Holder a new Warrant evidencing
     the rights of the Holder to purchase the unpurchased Warrant Shares called
     for by this Warrant, which new Warrant shall in all other respects be
     identical with this Warrant.

     4. No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant. As to any fraction of a share which the Holder would otherwise be
entitled to purchase upon such exercise, the Company shall pay a cash adjustment
in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price.

     5. Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares
shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such certificate, all of
which taxes and expenses shall be paid by the Company, and such certificates
shall be issued in the name of the Holder or in such name or names as may be
directed by the Holder; provided, however, that in the event certificates for
Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the
Assignment Form attached hereto duly executed by the Holder; and the Company may
require, as a condition thereto, the payment of a sum sufficient to reimburse it
for any transfer tax incidental thereto.

     6. Closing of Books. The Company will not close its stockholder books or
records in any manner which prevents the timely exercise of this Warrant,
pursuant to the terms hereof.

                                       4
<PAGE>
     7. Transfer, Division and Combination.

          (a) Subject to compliance with any applicable securities laws and the
     conditions set forth in Section 7(e) of this Warrant, this Warrant and all
     rights hereunder are transferable, in whole or in part, upon surrender of
     this Warrant at the principal office of the Company, together with a
     written assignment of this Warrant substantially in the form attached
     hereto duly executed by the Holder or its agent or attorney and funds
     sufficient to pay any transfer taxes payable upon the making of such
     transfer. Upon such surrender and, if required, such payment, the Company
     shall execute and deliver a new Warrant or Warrants in the name of the
     assignee or assignees and in the denomination or denominations specified in
     such instrument of assignment, and shall issue to the assignor a new
     Warrant evidencing the portion of this Warrant not so assigned, and this
     Warrant shall promptly be cancelled. A Warrant, if properly assigned, may
     be exercised by a new holder for the purchase of Warrant Shares without
     having a new Warrant issued.

          (b) This Warrant may be divided or combined with other Warrants upon
     presentation hereof at the aforesaid office of the Company, together with a
     written notice specifying the names and denominations in which new Warrants
     are to be issued, signed by the Holder or its agent or attorney. Subject to
     compliance with Section 7(a) of this Warrant, as to any transfer which may
     be involved in such division or combination, the Company shall execute and
     deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
     to be divided or combined in accordance with such notice.

          (c) The Company shall prepare, issue and deliver at its own expense
     (other than transfer taxes) the new Warrant or Warrants under this Section
     7.

          (d) The Company agrees to maintain, at its aforesaid office, books for
     the registration and the registration of transfer of the Warrants.

          (e) If, at the time of the surrender of this Warrant in connection
     with any transfer of this Warrant, the transfer of this Warrant shall not
     be registered pursuant to an effective registration statement under the
     Securities Act and under applicable state securities or blue sky laws, the
     Company may require, as a condition of allowing such transfer (i) that the
     Holder or transferee of this Warrant, as the case may be, furnish to the
     Company a written opinion of counsel (which opinion shall be in form,
     substance and scope customary for opinions of counsel in comparable
     transactions) to the effect that such transfer may be made without
     registration under the Securities Act and under applicable state securities
     or blue sky laws, (ii) that the Holder or transferee execute and deliver to
     the Company an investment letter in form and substance acceptable to the
     Company and (iii) that the transferee be an "accredited investor" as
     defined in Rule 501(a) promulgated under the Securities Act.

                                       5
<PAGE>
     8. No Rights as Shareholder until Exercise. This Warrant does not entitle
the Holder to any voting rights or other rights as a shareholder of the Company
prior to the exercise hereof. Upon the surrender of this Warrant and the payment
of the aggregate Exercise Price (or by means of a cashless exercise), the
Warrant Shares so purchased shall be and be deemed to be issued to such Holder
as the record owner of such shares as of the close of business on the later of
the date of such surrender or payment. Notwithstanding the foregoing, in the
event the Company grants rights to all shareholders to purchase Common Stock,
the Holder shall have the same rights as if this Warrant had been exercised
immediately prior to such grant.

     9. Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants
that upon receipt by the Company of evidence reasonably satisfactory to it of
the loss, theft, destruction or mutilation of this Warrant or any stock
certificate relating to the Warrant Shares, and in case of loss, theft or
destruction, of indemnity or security reasonably satisfactory to it (which, in
the case of the Warrant, shall not include the posting of any bond), and upon
surrender and cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock certificate of like
tenor and dated as of such cancellation, in lieu of such Warrant or stock
certificate.

     10. Saturdays, Sundays, Holidays, etc. If the last or appointed day for the
taking of any action or the expiration of any right required or granted herein
shall be a Saturday, Sunday or a legal holiday, then such action may be taken or
such right may be exercised on the next succeeding day not a Saturday, Sunday or
legal holiday.

     11. Adjustments of Exercise Price and Number of Warrant Shares. The initial
purchase price of one share of Common Stock under this Warrant shall be $____
(the "Initial Exercise Price"). The number and kind of securities purchasable
upon the exercise of this Warrant and the Initial Exercise Price shall be
adjusted as provided for in this Section 11 (the Initial Exercise Price, and the
Initial Exercise Price as thereafter then adjusted, shall be referred to herein
as the "Exercise Price") and the Exercise Price from time to time shall be
further adjusted as provided for in this Section 11. Upon each such adjustment
of the kind and number of Warrant Shares or other securities of the Company
which are purchasable hereunder, the Holder shall thereafter be entitled to
purchase the number of Warrant Shares or other securities resulting from such
adjustment at an Exercise Price per Warrant Share or other security obtained by
multiplying the Exercise Price in effect immediately prior to such adjustment by
the number of Warrant Shares purchasable pursuant hereto immediately prior to
such adjustment and dividing by the number of Warrant Shares or other securities
of the Company that are purchasable pursuant hereto immediately after such
adjustment. Upon each adjustment of the Exercise Price, the Holder shall
thereafter be entitled to receive upon exercise of this Warrant, at the Exercise
Price resulting from such adjustment, the number of Warrant Shares obtained by
(i) multiplying the Exercise Price effect immediately prior to such adjustment
by the number of Warrant Shares purchasable hereunder immediately prior to such
adjustment, and (ii) dividing the product thereof by the Exercise Price
resulting from such adjustment. An adjustment made pursuant to this Section 11
shall become effective immediately after the effective date of such event
retroactive to the record date, if any, for such event. This Warrant need not be
changed because of any adjustment made pursuant to this Section 11. The Exercise
Price shall be adjusted as follows:

          (a) In the case of any amendment to the Articles of Incorporation of
     the Company to change the rights, privileges, restrictions or conditions in
     respect to the Common Stock or division of the Common Stock, this Warrant
     shall be adjusted so as to provide that upon exercise thereof, the Holder
     shall receive, in lieu of each Common Stock theretofore issuable upon such
     exercise, the kind and amount of shares, other securities, money and
     property receivable upon such change or division by the Holder issuable
     upon such exercise had the exercise occurred immediately prior to such
     designation, change or division. This Warrant shall be deemed thereafter to
     provide for adjustments which shall be as nearly equivalent as may be
     practicable to the adjustments provided for in this Section 11. The
     provisions of this Section 11(a) shall apply in the same manner to
     successive reclassifications, changes, consolidations and mergers.

                                       6
<PAGE>

          (b) If the Company shall at any time subdivide its outstanding shares
     of Common Stock into a greater number of shares of Common Stock, or declare
     a dividend or make any other distribution upon the Common Stock payable in
     shares of Common Stock, the Exercise Price in effect immediately prior to
     such subdivision or dividend or other distribution shall be proportionately
     reduced, and conversely, in case the outstanding shares of Common Stock
     shall be combined into a smaller number of shares of Common Stock, the
     Exercise Price in effect immediately prior to such combination shall be
     proportionately increased.

          (c) If the Company shall (i) pay a dividend in shares of Common Stock
     or make a distribution in shares of Common Stock to holders of its
     outstanding Common Stock, (ii) subdivide its outstanding shares of Common
     Stock into a greater number of shares, (iii) combine its outstanding shares
     of Common Stock into a smaller number of shares of Common Stock, or (iv)
     issue any shares of its capital stock in a reclassification of the Common
     Stock, then the number of Warrant Shares purchasable upon exercise of this
     Warrant immediately prior thereto shall be adjusted so that the Holder
     shall be entitled to receive the kind and number of Warrant Shares or other
     securities of the Company which it would have owned or have been entitled
     to receive had such Warrant been exercised in advance thereof.

     No fractional shares of Common Stock shall be issued in connection with any
exercise of this Warrant, but in lieu of such fractional shares, the Company
shall make a cash payment therefor equal in amount to the product of the
applicable fraction multiplied by the Exercise Price then in effect.

                                       7
<PAGE>
     12. Reorganization, Reclassification, Merger, Consolidation or Disposition
of Assets. In case the Company shall reorganize its capital, reclassify its
capital stock, consolidate or merge with or into another corporation (where the
Company is not the surviving corporation or where there is a change in or
distribution with respect to the Common Stock of the Company), or sell, transfer
or otherwise dispose of all or substantially all of its property, assets or
business to another corporation and, pursuant to the terms of such
reorganization, reclassification, merger, consolidation or disposition of
assets, shares of common stock of the successor or acquiring corporation, or any
cash, shares of stock or other securities or property of any nature whatsoever
(including warrants or other subscription or purchase rights) in addition to or
in lieu of common stock of the successor or acquiring corporation ("Other
Property"), are to be received by or distributed to the holders of Common Stock
of the Company, then the Holder shall have the right thereafter to receive upon
exercise of this Warrant, the number of shares of Common Stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation,
and Other Property receivable upon or as a result of such reorganization,
reclassification, merger, consolidation or disposition of assets by a Holder of
the number of shares of Common Stock for which this Warrant is exercisable
immediately prior to such event, and, in any such case, appropriate provisions
shall be made with respect to the rights and interests of the Holder to the end
that the provisions hereof (including, without limitation, provisions for
adjustments of the Exercise Price and of the number of Warrant Shares) shall
thereafter be applicable, as nearly as may be, in relation to any shares of
stock, securities, other evidence of equity ownership or assets thereafter
deliverable upon the exercise hereof (including an immediate adjustment, by
reason of such reorganization, reclassification, merger, consolidation or
disposition of assets, of the Exercise Price to the value for the Common Stock
reflected by the terms of such reorganization, reclassification, merger,
consolidation or disposition of assets if the value so reflected is less than
the Exercise Price in effect immediately prior to such reorganization,
reclassification, merger, consolidation or disposition of assets). Subject to
the terms of this Warrant, in the event of a reorganization, reclassification,
merger or consolidation of the Company with or into another corporation or other
entity as a result of which the number of shares of common stock of the
surviving corporation or other entity issuable to holders of Common Stock of the
Company is greater or lesser than the number of shares of Common Stock of the
Company outstanding immediately prior to such reorganization, reclassification,
merger or consolidation, then the Exercise Price in effect immediately prior to
such reorganization, reclassification, merger or consolidation shall be adjusted
in the same manner as though there were a subdivision or combination of the
outstanding shares of Common Stock of the Company. The Company shall not effect
any such reorganization, reclassification, merger, consolidation or disposition
of assets, unless, prior to the consummation thereof, the successor corporation
(if other than the Company) resulting from such reorganization,
reclassification, merger or consolidation or the corporation purchasing such
assets shall assume, by written instrument executed and mailed or delivered to
the Holder, the obligation to deliver to the Holder such shares of stock,
securities, other evidence of equity ownership or assets as, in accordance with
the foregoing provisions, the Holder may be entitled to receive or otherwise
acquire. If a purchase, tender or exchange offer is made to and accepted by the
holders of more than fifty percent (50%) of the outstanding shares of Common
Stock of the Company, the Company shall not effect any reorganization,
reclassification, merger, consolidation or disposition of assets with the person
having made such offer or with any affiliate of such person, unless prior to the
consummation of such reorganization, reclassification, merger, consolidation or
disposition of assets, the Holder shall have been given a reasonable opportunity
to then elect to receive upon the exercise of this Warrant the amount of stock,
securities, other evidence of equity ownership or assets then issuable with
respect to the number of shares of Common Stock in accordance with such offer.
The foregoing provisions of this Section 12 shall similarly apply to successive
reorganizations, reclassifications, mergers, consolidations or disposition of
assets.

     13. Notice of Adjustment. Whenever the number of Warrant Shares or number
or kind of securities or other property purchasable upon the exercise of this
Warrant or the Exercise Price is adjusted, as herein provided, the Company shall
give notice thereof to the Holder, which notice shall state the number of
Warrant Shares (and other securities or property) purchasable upon the exercise
of this Warrant and the Exercise Price of such Warrant Shares (and other
securities or property) after such adjustment, setting forth a brief statement
of the facts requiring such adjustment and setting forth the computation by
which such adjustment was made.
                                       8
<PAGE>
     14. Notice of Corporate Action. If at any time:

          (a) the Company shall take a record of the holders of its Common Stock
     for the purpose of entitling them to receive a dividend or other
     distribution, or any right to subscribe for or purchase any evidences of
     its indebtedness, any shares of stock of any class or any other securities
     or property, or to receive any other right, or

          (b) there shall be any capital reorganization of the Company, any
     reclassification or recapitalization of the capital stock of the Company or
     any consolidation or merger of the Company with, or any sale, transfer or
     other disposition of all or substantially all the property, assets or
     business of the Company to, another corporation, or

          (c) there shall be a voluntary or involuntary dissolution, liquidation
     or winding up of the Company;

then, in any one or more of such cases, the Company shall give to Holder (i) at
least 20 calendar days' prior written notice of the date on which a record date
shall be selected for such dividend, distribution or right or for determining
rights to vote in respect of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, liquidation or winding up, and (ii)
in the case of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, dissolution, liquidation or winding up, at least 20
calendar days' prior written notice of the date when the same shall take place.
Such notice in accordance with the foregoing clause also shall specify (i) the
date on which any such record is to be taken for the purpose of such dividend,
distribution or right, the date on which the holders of Common Stock shall be
entitled to any such dividend, distribution or right, and the amount and
character thereof, and (ii) the date on which any such reorganization,
reclassification, merger, consolidation, sale, transfer, disposition,
dissolution, liquidation or winding up is to take place and the time, if any
such time is to be fixed, as of which the holders of Common Stock shall be
entitled to exchange their Warrant Shares for securities or other property
deliverable upon such disposition, dissolution, liquidation or winding up. Each
such written notice shall be sufficiently given if addressed to Holder at the
last address of Holder appearing on the books of the Company and delivered in
accordance with Section 18(d).

     15. Authorized Shares. The Company covenants that, during the period the
Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance or transfer of
the Warrant Shares upon the exercise of any purchase rights under this Warrant
and will procure at its expense upon such reservation of shares the listing
thereof (subject to issuance or notice of issuance) on all stock exchanges on
which the Common Stock is then listed or inter-dealer trading systems on which
the Common Stock is then traded. The Company further covenants that its issuance
of this Warrant shall constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary
certificates for the Warrant Shares upon the exercise of the purchase rights
under this Warrant. 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, or of any requirements of
the Trading Market upon which the Common Stock may be listed or inter-dealer
trading systems on which the Common Stock is then traded.

                                        9
<PAGE>
     Except and to the extent as waived or consented to by the Holder, the
Company shall not by any action, including, without limitation, amending its
certificate 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 of this Warrant, but will at all times in good faith assist in the
carrying out of all such terms and in the taking of all such actions as may be
necessary or appropriate to protect the rights of Holder as set forth in this
Warrant against impairment. Without limiting the generality of the foregoing,
the Company will (a) not increase the par value of any Warrant Shares above the
amount payable therefor upon such exercise immediately prior to such increase in
par value, (b) 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 (c) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof as may be necessary
to enable the Company to perform its obligations under this Warrant.

     Before taking any action which would result in an adjustment in the number
of Warrant Shares for which this Warrant is exercisable or in the Exercise
Price, the Company shall obtain all such authorizations or exemptions thereof,
or consents thereto, as may be necessary from any public regulatory body or
bodies having jurisdiction thereof.

     16. Registration Rights. The Warrant Shares shall be entitled to the
registration rights and piggy-back registration rights as set forth more fully
in that certain Placement Agreement, dated March 24, 2006, between the Company
and the Holder. Such registration rights and piggy-back registration rights are
incorporated herein by this reference as if such provisions had been set forth
herein in full.

     17. Timely Reports. The Company agrees to use its best efforts to file
timely all reports required to be filed pursuant to Sections 13 or 15 of the
Securities Exchange Act of 1934, as amended, and to provide such information as
will permit the Holder to sell this Warrant or any Warrant Shares in accordance
with Rule 144 under the Securities Act.

     18. Miscellaneous.

          (a) Jurisdiction. All questions concerning the construction, validity,
     enforcement and interpretation of this Warrant shall be determined in
     accordance with the provisions of the Purchase Agreement.

          (b) Restrictions. The Holder acknowledges that the Warrant Shares
     acquired upon the exercise of this Warrant, if not registered, will have
     restrictions upon resale imposed by state and Federal securities laws.

                                       10
<PAGE>
          (c) Nonwaiver and Expenses. No course of dealing or any delay or
     failure to exercise any right hereunder on the part of Holder shall operate
     as a waiver of such right or otherwise prejudice Holder's rights, powers or
     remedies, notwithstanding all rights hereunder terminate on the Termination
     Date. If the Company willfully and knowingly fails to comply with any
     provision of this Warrant, which results in any material damages to the
     Holder, the Company shall pay to Holder such amounts as shall be sufficient
     to cover any costs and expenses including, but not limited to, reasonable
     attorneys' fees, including those of appellate proceedings, incurred by
     Holder in collecting any amounts due pursuant hereto or in otherwise
     enforcing any of its rights, powers or remedies hereunder.

          (d) Notices. Any notice, request or other document required or
     permitted to be given or delivered to the Holder by the Company shall be
     delivered in accordance with the notice provisions of the Purchase
     Agreement; provided upon any permitted assignment of this Warrant, the
     assignee shall promptly provide the Company with its contact information.

          (e) Limitation of Liability. No provision hereof, in the absence of
     any affirmative action by Holder to exercise this Warrant or purchase
     Warrant Shares, and no enumeration herein of the rights or privileges of
     Holder, shall give rise to any liability of Holder for the purchase price
     of any Common Stock or as a stockholder of the Company, whether such
     liability is asserted by the Company or by creditors of the Company.

          (f) Remedies. Holder, in addition to being entitled to exercise all
     rights granted by law, including recovery of damages, will be entitled to
     specific performance of its rights under this Warrant. The Company agrees
     that monetary damages would not be adequate compensation for any loss
     incurred by reason of a breach by it of the provisions of this Warrant and
     hereby agrees to waive the defense in any action for specific performance
     that a remedy at law would be adequate.

          (g) Successors and Assigns. Subject to applicable securities laws,
     this Warrant and the rights and obligations evidenced hereby shall inure to
     the benefit of and be binding upon the successors of the Company and the
     successors and permitted assigns of Holder. The provisions of this Warrant
     are intended to be for the benefit of all Holders from time to time of this
     Warrant and shall be enforceable by any such Holder or holder of Warrant
     Shares.

          (h) Amendment. This Warrant may be modified or amended or the
     provisions hereof waived with the written consent of the Company and the
     Holder.

          (i) Severability. Wherever possible, each provision of this Warrant
     shall be interpreted in such manner as to be effective and valid under
     applicable law, but if any provision of this Warrant shall be prohibited by
     or invalid under applicable law, such provision shall be ineffective to the
     extent of such prohibition or invalidity, without invalidating the
     remainder of such provisions or the remaining provisions of this Warrant.

          (j) Headings. The headings used in this Warrant are for the
     convenience of reference only and shall not, for any purpose, be deemed a
     part of this Warrant.

                              ********************

                                       11
<PAGE>

     IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by
its officer thereunto duly authorized.

Dated:  March 24, 2006

                                            PURE Bioscience

                                            By:/s/ MICHAEL L. KRALL
                                               --------------------------
                                                  Name: MICHAEL L. KRALL
                                                  Title:  PRESIDENT

                                       12
<PAGE>

                               NOTICE OF EXERCISE

To:      PURE Bioscience

     (1) The undersigned hereby elects to purchase ________ Warrant Shares
of PURE Bioscience pursuant to the terms of the attached Warrant, and tenders
herewith payment of the applicable exercise price in full, together with all
applicable transfer taxes, if any.

     (2) Payment shall take the form of (check applicable box):

          [  ] in lawful money of the United States; or

          [  ] the cancellation of such number of Warrant Shares as is
               necessary, in accordance Section 3(a) of the attached Warrant, to
               exercise this Warrant with respect to the number of Warrant
               Shares listed above.

     (3) Please issue a certificate or certificates representing said Warrant
Shares in the name of the undersigned or in such other name as is specified
below:

          ---------------------------------------------

The Warrant Shares shall be delivered to the following:

          ---------------------------------------------

          ---------------------------------------------

          ---------------------------------------------

     (4) Accredited Investor. The undersigned is an "accredited investor" as
defined in Regulation D promulgated under the Securities Act of 1933, as
amended.

                       [PURCHASER]

                       By: ______________________________
                             Name:
                             Title:

                       Dated:  ________________________

<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

     FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby
are hereby assigned to

_______________________________________________ whose address is

________________________________________________________________

________________________________________________________________

                                                 Dated:  ______________, _______

                  _________Holder's Signature:  _____________________________

                  _________Holder's Address:_____________________________

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank or trust company. Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

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