Document:

SECOND
      AMENDED AND RESTATED ESCROW AGREEMENT

    

    THIS
      SECOND AMENDED AND RESTATED ESCROW AGREEMENT
      (this
      "Agreement") is made this 9th
      day of
      January, 2008, by and between Prairie Creek Ethanol, LLC an Iowa limited
      liability company ("Prairie Creek Ethanol" or the “Company”) and Iowa State
      Bank, Algona, Iowa as escrow agent (the “Escrow Agent”). 

    

    WITNESSETH: 

     

    WHEREAS,
      the
      parties previously entered into an Escrow Agreement dated July 16, 2007 (the
      “Escrow Agreement”) and an Amended and Restated Escrow Agreement dated August
      16, 2007 (the “Amended and Restated Escrow Agreement”) in connection with the
      Company’s offering made pursuant to a federal registration under the provisions
      of the Securities Act of 1933, as amended (the “Offering.”);

    

    WHEREAS,
      the
      parties desire to amend and restate the Amended and Restated Escrow Agreement
      in
      accordance with amendments to the terms of the Company’s Offering;

    

    WHEREAS,
      Prairie
      Creek Ethanol proposes to offer a minimum of 7,200 and a maximum of 17,000
      of
      its Membership Units (the "Units") at a price of $5,000 per Unit, in minimum
      blocks of two (2) Units in an offering (the “Offering”) registered with the
      Securities and Exchange Commission and in the states of Florida, Illinois,
      Iowa,
      Kansas, Missouri, South Dakota, Wisconsin, and possibly offered in other states
      pursuant to state securities registration exemptions and under the provisions
      of
      the Securities Act of 1933, as amended; 

    

    WHEREAS,
      Prairie
      Creek Ethanol has filed a registration statement (the “Registration Statement”)
      to register the Units with the Securities and Exchange Commission, the States
      of
      Florida, Illinois, Iowa, Kansas, Missouri, South Dakota, Wisconsin, and possibly
      other states; 

    

    WHEREAS,
      Prairie
      Creek Ethanol will allow subscribers to the Offering to deliver the purchase
      price of the subscribed Units in installments; and 

    

    WHEREAS,
      Prairie
      Creek Ethanol desires to comply with the requirements of federal and state
      securities laws and regulations, and desires to protect the subscribers to
      the
      Offering by providing, under the terms and conditions herein set forth, for
      the
      return to subscribers of the money which they may pay on account of
      subscriptions for Units in the Offering if the Minimum Escrow Deposit
      (hereinafter defined) is not deposited with the Escrow Agent.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants herein contained and for other good and
      valuable consideration, the receipt and sufficiency of which is acknowledged,
      the parties agree as follows:

    

    1. Acceptance
      of Appointment.
      Iowa
      State Bank, Algona, Iowa hereby agrees to act as escrow agent under this
      Agreement. The Escrow Agent shall have no duty to enforce any provision hereof
      requiring performance by any other party hereunder.

     

    
      
        
        

      

      
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    2. Establishment
      of Escrow Account.
      An
      escrow account (the "Escrow Account") is hereby established with the Escrow
      Agent for the benefit of the subscribers to the Offering. Except as specifically
      provided in this Agreement, the Escrow Account shall be created and maintained
      subject to the customary rules and regulations of the Escrow Agent pertaining
      to
      such accounts.

    

    3. Ownership
      of Escrow Account.
      Until
      such time as the funds deposited in the Escrow Account (the "Deposited Funds")
      shall equal the Minimum Escrow Deposit (as hereinafter defined), all funds
      deposited in the Escrow Account by Prairie Creek Ethanol shall not become the
      property of Prairie Creek Ethanol or be subject to the debts of Prairie Creek
      Ethanol or any other person but shall be held by the Escrow Agent solely for
      the
      benefit of the subscribers who have subscribed for Units in the
      Offering.

    

    4. Deposit
      of Proceeds.
      All
      proceeds from sales of Units in the Offering shall be delivered by Prairie
      Creek
      Ethanol to the Escrow Agent, within forty-eight hours of the receipt thereof
      from subscribers, endorsed (if appropriate) to the order of the Escrow Agent,
      together with an appropriate written statement setting forth the name, address
      and social security number of each person subscribing for Units, the number
      of
      Units subscribed, and the amount paid by each such subscriber. Any such proceeds
      deposited with the Escrow Agent in the form of uncollected checks shall be
      promptly presented by the Escrow Agent for collection through customary banking
      and clearing house facilities. As the proceeds of each sale are deposited with
      the Escrow Agent, Prairie Creek Ethanol shall reserve the number of Units
      confirmed to the subscriber thereof in connection with such sale. All such
      deposited proceeds are referred to herein as the "Escrow Funds".

    

    5. Investment
      of Escrow Account.
      The
      Escrow Funds shall be credited by the Escrow Agent and recorded in the Escrow
      Account. The Escrow Agent shall be permitted, and is hereby authorized to
      deposit, transfer, hold and invest all funds received under this Agreement,
      including principal and interest, in those investments directed, in writing
      by
Prairie
      Creek Ethanol.
      The
      Escrow Agent is hereby authorized to invest the Escrow Funds in Federated
      Government Obligations Tax-Managed Fund for temporary investment without written
      direction. Any interest received by the Escrow Agent with respect to the Escrow
      Funds shall be paid to Prairie
      Creek Ethanol,
      the
      subscribers or Escrow Agent, as indicated elsewhere in this
      Agreement.

    

    6. Termination
      of Escrow.
      This
      Agreement and the Escrow created hereunder shall be terminated as provided
      in
      Section 7 hereof or as of September 21, 2008 (the "Termination Date"), which
      is
      one year and one day following the date in calendar year 2007 upon which the
      Securities and Exchange Commission initially declared the Offering effective.
      The Company shall notify Escrow Agent of the date the Company’s post-effective
      amendment becomes effective within thirty (30) days of the receipt of notice
      of
      such effectiveness from the Securities and Exchange Commission. 

     

    7. Disposition
      of Escrow Funds.
      The
      Escrow Agent shall have the following duties and obligations under this
      Agreement:

    

    A. The
      Escrow Agent shall send a written notice to the Company acknowledging the
      receipt of the Deposited Funds each business day.

     

    
      
        
        

      

      
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    B. The
      Escrow Agent shall give the Company prompt written notice when subscriptions
      for
      Units total $36,000,000. Following receipt of such notice, the Company will
      advise the subscribers for Units to remit to the Escrow Agent any unpaid balance
      of the purchase price within twenty (20) days. The Escrow Agent shall also
      give
      the Company prompt written notice when the Deposited Funds total $36,000,000
      (exclusive of interest). 

    

    C. At
      the
      time (and in the event) that: (a) the Deposited Funds shall, during the term
      of
      this Agreement, equal $36,000,000 in subscription proceeds (exclusive of
      interest) (the "Minimum Escrow Deposit"); (b) the Escrow Agent
      shall
      have received written confirmation from the Company that the Company has
      obtained a written debt financing commitment for debt financing ranging from
      a
      minimum of $34,345,000 to a maximum of $83,345,000; (c) the Company has
      affirmatively elected in writing to terminate this Agreement; (d)
      the
      Escrow Agent shall have provided to each state securities department in which
      the Company has registered its securities for sale, as communicated to the
      Escrow Agent by the Company, an affidavit stating that the foregoing
      requirements (a), (b) and (c) of this Subsection 7.C. have been
      satisfied;
      and
      (e)
      in each state in which consent is required, the state securities commissioners
      have consented to release of the funds on deposit, then
      this
      Agreement shall terminate, and the Escrow Agent shall promptly disburse the
      funds on deposit, including interest, to the Company to be used in accordance
      with the provisions set forth in the Registration Statement. The Company will
      deliver a copy of the Registration Statement (including any post-effective
      amendment thereto) to the Escrow Agent upon execution of this Agreement. The
      Escrow Agent will have no responsibility to examine the Registration Statement
      with regard to the Escrow Account, the use of proceeds by the Company as
      described therein or otherwise and the Registration Statement shall contain
      provisions to such effect. Upon the making of such disbursement, the Escrow
      Agent shall be completely discharged and released of any and all further
      responsibilities hereunder.

    

    D. In
      the
      event the Deposited Funds do not equal or exceed the Minimum Escrow Deposit
      on
      or before the Termination Date or if the Company has not received a written
      debt
      financing commitment as described herein on or before the Termination Date,
      the
      Escrow Agent shall return to each of the subscribers for the Units in the
      Offering, as promptly as possible after such Termination Date and on the basis
      of its records pertaining to the Escrow Account: (a) the sum which each
      subscriber initially paid in on account of subscriptions for the Units in the
      Offering and (b) each subscriber’s portion of the total interest earned on the
      Escrow Account as of the Termination Date. Computation of any subscriber’s share
      of the interest earned will be a weighted average based on the proportion of
      such subscriber’s deposit in the Escrow Account from the Offering to all such
      subscribers’ deposits held by the Escrow Agent and upon the length of time in
      days such deposit was held in the Escrow Account as compared to all such
      deposits. All computations with respect to each subscriber’s allocable share of
      interest shall be made by the Escrow Agent, which determinations shall be final
      and conclusive. Any amount paid or payable to a subscriber pursuant to this
      Section shall be deemed to be the property of such subscriber, free and clear
      of
      any and all claims of the Company or its agents or creditors; and the respective
      subscriptions for the Units made and entered into in the Offering shall
      thereupon be deemed, ipso facto, to be cancelled without any further liability
      of the subscribers or any of them to pay for the Units subscribed. At such
      time
      as the Escrow Agent shall have made all the payments called for in this Section,
      the Escrow Agent shall be completely discharged and released of any and all
      further responsibilities hereunder, and the Units reserved (as provided in
      Section 4 hereof) shall be released from such reservation, except that Escrow
      Agent shall be required to prepare and issue a single IRS Form 1099 to each
      subscriber in the event that funds are returned to subscribers.

     

    
      
        
        

      

      
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    E. In
      the
      event the Company offers its subscribers the right to withdraw and terminate
      their subscription agreements pursuant to a rescission offer, the Escrow Agent
      shall return to each rescinding subscriber, as promptly as possible on the
      basis
      of its records pertaining to the Escrow Account: (a) the sum which each
      rescinding subscriber initially paid in on account of subscriptions for Units
      in
      the Offering and (b) each rescinding subscriber's portion of the total interest
      earned on the Escrow Account as of that date. Computation of any rescinding
      subscriber's share of the interest earned will be a weighted average based
      on
      the proportion of such rescinding subscriber's deposit in the Escrow Account
      from the Offering to all such subscribers' deposits held by the Escrow Agent
      and
      upon the length of time in days such deposit was held in the Escrow Account
      as
      compared to all such deposits. All computations with respect to each rescinding
      subscriber's allocable share of interest shall be made by the Escrow Agent,
      which determinations shall be final and conclusive. Any amount paid or payable
      to a rescinding subscriber pursuant to this Section shall be deemed to be the
      property of such rescinding subscriber, free and clear of any and all claims
      of
      the Company or its agents or creditors; and the respective subscriptions for
      the
      Units made and entered into in the Offering shall thereupon be deemed, ipso
      facto, to be cancelled without any further liability of the rescinding
      subscriber or any of them to pay for the Units. At such time as the Escrow
      Agent
      shall have made all the payments called for in this Section, the Escrow Agent
      shall continue to be bound by the other provisions of this Agreement and shall
      be required to prepare and issue a single IRS Form 1099 to each rescinding
      subscriber. The Company shall release any Units reserved (as provided in Section
      4 hereof) for any rescinding subscriber.

    

    F. In
      the
      event the Company rejects any one or more subscriptions for Units, the Escrow
      Agent shall return to each rejected subscriber, as promptly as possible on
      the
      basis of its records pertaining to the Escrow Account: (a) the sum which each
      rejected subscriber initially paid in on account of subscriptions for Units
      in
      the Offering and (b) each rejected subscriber's portion of the total interest
      earned on the Escrow Account as of that date. Computation of any rejected
      subscriber's share of the interest earned will be a weighted average based
      on
      the proportion of such rejected subscriber's deposit in the Escrow Account
      from
      the Offering to all such subscribers' deposits held by the Escrow Agent and
      upon
      the length of time in days such deposit was held in the Escrow Account as
      compared to all such deposits. All computations with respect to each rejected
      subscriber's allocable share of interest shall be made by the Escrow Agent,
      which determinations shall be final and conclusive. Any amount paid or payable
      to a rejected subscriber pursuant to this Section shall be deemed to be the
      property of such rejected subscriber, free and clear of any and all claims
      of
      the Company or its agents or creditors; and the respective subscriptions for
      the
      Units made and entered into in the Offering shall thereupon be deemed, ipso
      facto, to be cancelled without any further liability of the rejected subscriber
      or any of them to pay for the Units. At such time as the Escrow Agent shall
      have
      made all the payments called for in this Section, the Escrow Agent shall
      continue to be bound by the other provisions of this Agreement and shall be
      required to prepare and issue a single IRS Form 1099 to each rejected
      subscriber. The Company shall release any Units reserved (as provided in Section
      4 hereof) for any rejected subscriber.

     

    
      
        
        

      

      
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    8. Agreement
      with Escrow Agent.
      To
      induce Escrow Agent to act hereunder, it is agreed by Prairie Creek Ethanol
      and
      Escrow Agent that acceptance by Escrow Agent of its duties under this Agreement
      is subject to the following terms and conditions, which Escrow Agent and Prairie
      Creek Ethanol hereby agree shall govern and control the rights, duties and
      immunities of Escrow Agent.

    

    A. the
      Escrow Agent undertakes to perform such duties and only such duties as are
      expressly set forth herein, and no implied agreements or obligations shall
      be
      read into this Escrow Agreement against the Escrow Agent; the Escrow Agent
      shall
      not be liable except for the performance of such duties and obligations as
      are
      expressly set out in this Agreement;

    

    B. the
      Escrow Agent shall be responsible for its own (including its officers,
      directors, trustees, employees, agents or assigns) failure or inability to
      honor
      any of the provisions of this Agreement or any other agreement, where such
      failure or inability arises as a result of bad faith, willful misconduct or
      gross negligence, but shall not be responsible in any manner whatsoever for
      any
      failure or inability of the Company, or of anyone else, to honor any of the
      provisions of this Agreement or any other agreement;

    

    C. the
      Company (and its successors and assigns) agrees to indemnify and hold the Escrow
      Agent harmless against any and all losses, claims, damages, liabilities, and
      expenses, including reasonable costs of investigation, counsel fees, including
      allocated costs of in-house counsel and disbursements that may be imposed on
      the
      Escrow Agent or incurred by the Escrow Agent in connection with the performance
      of its duties under this Agreement, including but not limited to any litigation
      arising from this Agreement or involving its subject matter, unless such losses,
      claims, damages, liabilities or expenses are the result of the bad faith,
      willful misconduct or gross negligence of the Escrow Agent. In addition, the
      Company agrees to pay to Escrow Agent any amounts due to it which may be in
      excess of the interest earned on the Escrow Fund;

    

    D. the
      Escrow Agent shall be fully protected in acting on and relying upon any written
      notice, direction, request, waiver, consent, receipt or other paper or document
      which the Escrow Agent in good faith believes to have been signed or presented
      by the proper party or parties;

    

    E. the
      Escrow Agent shall not be liable for any error of judgment, or for any act
      done
      or step taken or omitted by it in good faith or for any mistake of fact or
      law,
      or for anything which it may do or refrain from doing in connection herewith,
      except its own bad faith, willful misconduct or gross negligence;

    

    F. the
      Escrow Agent may seek the advice of legal counsel in the event of any dispute
      or
      question as to the construction of any of the provisions of this Agreement
      or
      its duties hereunder, and it shall incur no liability and shall be fully
      protected in respect of any action taken, omitted or suffered by it in good
      faith in accordance with the opinion of such counsel;

     

    
      
        
        

      

      
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    G. the
      Escrow Agent makes no representation as to the validity, value, genuineness
      or
      collectibility of any security, document or instrument delivered to it;

    

    H. no
      provisions of this Escrow Agreement shall require the Escrow Agent to expend
      or
      risk its own funds or otherwise incur any financial liability in the performance
      of its duties hereunder, or in the exercise of any of its rights or powers,
      if
      it shall have reasonable grounds for believing that repayment of such funds
      or
      adequate indemnity against such risk or liability is not reasonably assured
      to
      it;

    

    I. in
      the
      event that (i) any dispute shall arise between the parties with respect to
      the
      disposition or disbursement of any of the assets held hereunder or (ii) the
      Escrow Agent shall be uncertain as to how to proceed in a situation not
      explicitly addressed by the terms of this Escrow Agreement whether because
      of
      conflicting demands by the other parties hereto or otherwise, the Escrow Agent
      shall be permitted to interplead all of the assets held hereunder into a court
      of competent jurisdiction, and thereafter be fully relieved from any and all
      liability or obligation with respect to such interpleaded assets. The parties
      hereto other than the Escrow Agent further agree to pursue any redress or
      recourse in connection with such a dispute, without making the Escrow Agent
      a
      party to same; and

    

    J. EXCEPT
      IN
      THE EVENT OF BAD FAITH, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT ON THE PART
      OF
      THE ESCROW AGENT, THE ESCROW AGENT SHALL NOT BE LIABLE, DIRECTLY OR INDIRECTLY,
      FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL LOSSES OR DAMAGES OF ANY KIND
      WHATSOEVER (INCLUDING WITHOUT LIMITATION LOST PROFITS), EVEN IF THE ESCROW
      AGENT
      HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES AND REGARDLESS
      OF
      THE FORM OF ACTION.

    

    9. Resignation
      and Removal of Escrow Agent Successors.
      The
      Escrow Agent may resign upon thirty (30) days advance written notice to Prairie
      Creek Ethanol. If a successor escrow agent is not appointed within the 30-day
      period following such notice, Escrow Agent may petition any court of competent
      jurisdiction to name a successor escrow agent. Any commercial banking
      institution or trust company with which Escrow Agent may merge or consolidate,
      and any commercial banking institution or trust company to which Escrow Agent
      transfers all or substantially all of its corporate trust business shall be
      the
      successor to all of Escrow Agent’s rights, obligations and immunities hereunder,
      without further act, deed or conveyance on the part of any of the parties
      hereto, anything herein to the contrary notwithstanding.

    

    10. Fees
      and Expenses of Escrow Agent.
      Prairie
      Creek Ethanol agrees to pay to the Escrow Agent the fees specified in the Escrow
      Agent’s fee schedule attached hereto as Exhibit A, in the manner set forth
      therein, unless otherwise agreed to by the parties in writing. Prairie Creek
      Ethanol shall be solely responsible for the payment of such fees and the Escrow
      Agent shall not seek payment of the fees from subscribers or apply any principal
      deposited by subscribers in the escrow account or interest on the escrow account
      against such fees. The fee agreed upon herein is intended as full consideration
      for the Escrow Agent's services as contemplated by this Agreement; provided,
      however,
      that in
      the event the Escrow Agent renders any material service not contemplated in
      this
      Agreement or there is any assignment of interest in the subject matter of this
      Agreement, or any material modification hereof; or if any material controversy
      arises hereunder, or the Escrow Agent is made a party to any litigation
      pertaining to this Agreement, or the subject matter hereof, then the Escrow
      Agent shall be reasonably compensated for such extraordinary services and
      reimbursed for all costs and expenses, including reasonable attorney's fees,
      occasioned by any delay, controversy, litigation or event, and the same shall
      be
      recoverable from Prairie Creek Ethanol as more specifically set forth in Section
      8.C above.

     

    
      
        
        

      

      
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    11. Notices.
      All
      notices, requests, demands, and other communications under this Agreement shall
      be in writing and shall be deemed to have been duly given (a) on the date of
      service if served personally on the party to whom notice is to be given, (b)
      on
      the day of transmission if sent by facsimile transmission to the facsimile
      number given below, and telephonic confirmation of receipt is obtained promptly
      after completion of transmission, (c) on the next day on which such deliveries
      are made in Goldfield, Iowa, when delivery is to Federal Express or similar
      overnight courier or the Express Mail service maintained by the United States
      Postal Service, (d) upon receipt of confirmation from the other party’s server
      of receipt of such communication in the case of ZixMail (encrypted e-mail)
      sent
      return receipt requested; or (e) on the fifth day after mailing, if mailed
      to
      the party to whom notice is to be given, by first class mail, registered or
      certified, postage prepaid, and properly addressed, return receipt requested,
      to
      the party as follows:

    

    If
      to
      Escrow Agent:

    

    Iowa
      State Bank 

    5
      E. Call
      Street

    Algona,
      Iowa 50511

    Attn:
      Kristie A. Brown

    Fax:
      (515) 295-3204

    Phone
      (515) 295-3595:

     

    If
      to
      Prairie Creek Ethanol:

    

    Prairie
      Creek Ethanol, LLC

    415
      N.
      Locust Street

    PO
      Box
      280

    Goldfield,
      Iowa 50542

    Attn:
      Brad Davis

    Phone:
      (515)
      825-3161

     

    
      
        
        

      

      
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    with
      a
      required copy to:

    

    Brown,
      Winick, Graves, Gross, Baskerville and Schoenebaum, P.L.C.

    666
      Grand
      Avenue, Suite 2000

    Des
      Moines, IA 50309

    Attention:
      Valerie D. Bandstra

    Fax:
      (515) 323-8559

    Phone:
      (515)-242-2400

    

    12. Governing
      Law.
      This
      Agreement shall be construed, performed, and enforced in accordance with, and
      governed by, the internal laws of the State of Iowa, without giving effect
      to
      the principles of conflict of laws thereof. 

    

    13. Successors
      and Assigns.
      Except
      as otherwise provided in this Agreement, no party hereto shall assign this
      Agreement or any rights or obligations hereunder without the prior written
      consent to the other parties hereto and any such attempted assignment without
      such prior written consent shall be void and of no force and effect. This
      Agreement shall inure to the benefit of and shall be binding upon the successors
      and permitted assigns of the parties hereto.

    

    14. Severability.
      In the
      event that any part of this Agreement is declared by any court or other judicial
      or administrative body to be null, void, or unenforceable, said provision shall
      survive to the extent it is not so declared, and all of the other provisions
      of
      this Agreement shall remain in full force and effect.

    

    15. Further
      Assurances.
      Each of
      the parties shall execute such documents and other papers and take such further
      actions, as may be reasonably required or desirable to carry out the provisions
      hereof and the transactions contemplated hereby.

    

    16. Amendments.
      This
      Agreement may be amended or modified, and any of the terms, covenants,
      representations, warranties, or conditions hereof may be waived, only by a
      written instrument executed by the parties hereto, or in the case of a waiver,
      by the party waiving compliance. Any waiver by any party of any condition,
      or of
      the breach of any provision, term, covenant, representation, or warranty
      contained in the Agreement, in any one or more instances, shall not be deemed
      to
      be nor construed as further or continuing waiver of any such conditions, or
      of
      the breach of any other provision, term, covenant, representation, or warranty
      of this Agreement.

    

    17. Entire
      Agreement.
      This
      Agreement contains the entire understanding among the parties hereto with
      respect to the escrow contemplated hereby and supersedes and replaces all prior
      and contemporaneous agreements and understandings, oral or written, with regard
      to such escrow.

    

    18. Section
      Headings.
      The
      section headings in this Agreement are for reference purposes only and shall
      not
      affect the meaning or interpretation of this Agreement.

    

    19. Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original but all of which together shall constitute one and the same
      instrument.

     

    
      
        
        

      

      
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    20. Non-Endorsement.

    

    (i)
      The
      Company represents and agrees that it has not made nor will it in the future
      make any representation that states or implies that the Escrow Agent has
      endorsed, recommended or guaranteed the purchase, value, or repayment of the
      Units offered for sale by the Company. The Company further agrees that it will
      insert in the Registration Statement and any prospectus, offering circular
      or
      subscription agreement made available to prospective subscribers of the Units
      the following statement in bold face type: “Iowa
      State Bank is
      acting only as an Escrow Agent in connection with the Offering described herein,
      and has not endorsed, recommended or guaranteed the purchase, value or repayment
      of such Units,”
      and will
      furnish to the Escrow Agent a copy of the Registration Statement (including
      any post-effective amendment thereto) and
      each
      such prospectus, offering circular or subscription agreement at least five
      (5)
      business days prior to its distribution to prospective subscribers.

    

    (ii) In
      addition, each subscription agreement executed and delivered by a prospective
      subscriber in the Units shall contain the following acknowledgment: “The
      undersigned acknowledges that Iowa State Bank is acting only as an escrow agent
      in connection with the offering of the Units described herein, and has not
      endorsed, recommended or guaranteed the purchase, value or repayment of such
      Units.”

    

    [SIGNATURE
      PAGE FOLLOWS]

     

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF, the parties hereto have hereunto affixed their signatures
      as of
      the day and year first written above.

     

      	PRAIRIE
              CREEK
              ETHANOL:	 	ESCROW
              AGENT:
	 	 	 
	PRAIRIE
              CREEK
              ETHANOL, LLC	 	IOWA STATE
              BANK,
              ALGONA, IOWA
	 	 	 	 	 
	 	 	 	 	 
	By:	/s/
              Clay
              Hansen	 	By:	/s/
              Kristie A.
              Brown
	 	
              
Clay
              Hansen, President	 	 	
              
Printed
              Name:
              Kristie A. Brown
	 	
            	 	 	Title:
              Vice President & Trust Officer

    

     

    [SIGNATURE
      PAGE TO ESCROW AGREEMENT]

     

    
      
        
        

      

      
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    Exhibit
      A

    

    Iowa
      State Bank, Algona, Iowa

    Escrow
      Agent Fee Schedule

    

    Escrow
      Agreement

    Prairie
      Creek Ethanol,
      LLC

    

    Escrow
      Account Fees:

    

    Escrow
      Agent shall be paid a one-time setup fee of $1,000 within thirty (30) days
      of
      the date of the Escrow Agreement.

    

    If
      the
      Deposited Funds are disbursed to Prairie Creek Ethanol in accordance with
      Section 7.C. of the Escrow Agreement, Escrow Agent shall be paid 0.12% (12
      basis
      points) of the principal value of the account as of the date the Deposited
      Funds
      are disbursed to Prairie Creek Ethanol, which amount shall be deducted by Escrow
      Agent from the funds disbursed (but only to the extent of the interest earned
      thereon).

    

    If
      the
      Deposited Funds are not disbursed to Prairie Creek Ethanol and any Deposited
      Funds are returned to subscribers in accordance with Section 7.D., Section
      7.E.
      or Section 7.F of the Escrow Agreement, Escrow Agent shall be paid a fee by
      Prairie Creek Ethanol equal to one percent (1%) of the interest earned on the
      Deposited Funds returned to subscribers as a fee for its services; which such
      fee shall not be paid from the principal deposited in or the interest earned
      on
      the escrow account. 

    

    If
      Escrow
      Agent is required to provide IRS Form 1099 to subscribers for interest paid
      to
      such subscribers, Escrow Agent shall be paid a fee by Prairie Creek Ethanol
      of
      $12 per each such subscriber, payable following the preparation of such
      forms.

     

    
      
        
        

      

      
        1AMENDED
      AND RESTATED OPTION AGREEMENT

     

    Option
      agreement made 3rd 
      day of
      July 2007, between David
      Kirsch and Susan Kirsch, husband and wife and Darrell Kirsch and Dawn Kirsch,
      husband and wife,
      of
      Wesley, Iowa (the "Seller"), and Prairie
      Creek Ethanol,
      LLC,
      with
      its principal place of business at 415 N Locust Street PO Box 280, Goldfield,
      Iowa 50542(the "Buyer").

    

    SECTION
      ONE

     

    GRANT
      OF OPTION

     

    
      	 	
              A.

            	
              In
                consideration of the mutual promises of the parties, the Seller does
                hereby give and grant to the Buyer the exclusive and irrevocable
                right,
                privilege and option to purchase, under the conditions hereinafter
                provided, all of the Seller's right title and interest in the real
                property which is located in Kossuth County, State of Iowa, and more
                particularly described as follows: 

            

    

     

    The
      Northeast Quarter of the Northeast Quarter (NE 1⁄4 NE 1⁄4 ) and all of the South
      Half of the Northeast Quarter (S 1⁄2 NE 1⁄4 ) lying North of the right of way of the
      Chicago, Milwaukee and St. Paul Railway Company in Section Thirty-six (36),
      Township Ninety-six (96) North, Range Twenty-seven (27), West of the
      5th
      P.M.,
      Kossuth County, Iowa, 

     

    EXCEPT
      the North 17 acres to be more particularly described by a licensed land surveyor
      located in the NE 1⁄4 of the NE 1⁄4 .

     

    EXCEPT
      land conveyed to the State of Iowa for Highway purposes by Deeds recorded in
      Book 91 of Land Deeds at page 601, and in Book 91 of Land Deeds at page 599,
      and

     

    EXCEPT
      a
      tract of land in the Southeast corner of the Northeast Quarter (NE 1⁄4) beginning
      at the intersection of the West right of way line of Iowa Highway 60 and the
      North right of way line of the Chicago, Milwaukee, St. Paul and Pacific Railway
      Company,

     

    Thence
      North along the highway right of way line 475 feet;

     

    Thence
      West at right angles 200 feet;

     

    Thence
      South parallel to the highway right of way line 498.23 feet to the North line
      of
      the railroad right of way; 

     

    Thence
      Northeasterly along the railroad right of way line 201.4 feet to the point
      of
      beginning; and 

     

    EXCEPT
      a
      tract of land commencing at the Northwest corner of the Northeast Quarter of
      the
      Northeast Quarter (NE 1⁄4 NE 1⁄4 ), thence East 414 feet, thence South 447 feet,
      thence West 414 feet, thence North 447 feet to the point of beginning, all
      in
      Section Thirty-six (36), Township Ninety-six (96) North, Range Twenty-seven
      (27), West of the 5th
      P.M.,
      Kossuth County, Iowa. 

    

    This
      option shall include 74.72 acres surveyed. 

    

    (the
      "Property").

    

    B.
      All
      deposits and payments made by the Buyer to the Seller pursuant to this Agreement
      prior to the Closing (either directly or through an escrow agent, if any) shall
      be applied towards the Purchase Price of the Property with the exception of
      $4,200.00 which has already been paid to Seller. This payment shall be
      non-refundable and shall not apply to the purchase price. The Seller fully
      agrees and acknowledges that the consideration given by the Buyer constitutes
      legal, adequate, and valuable consideration for the purposes of this Agreement.
      Seller acknowledges receipt of the $4200.00 which is a nonrefundable payment
      to
      the Seller. This payment was made on or about the 26th
      day of
      May 2006. Upon execution of this Amended and Restated Option Agreement Buyer
      shall pay Sellers a nonrefundable sum of $5000.00 in addition to the payment
      already made. This payment shall be non-refundable and shall not be applied
      to
      the purchase price.

     

    
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    C.
      The
      purchase price for the Property shall be structured as follows: (the "Purchase
      Price") 

     

    i.
      The
      South 28 acres of the property legally described in Section A shall be exchanged
      for 28 acres adjacent to Highway 18 and adjacent West of the 17 acre tract
      excepted from this Option. This parcel shall not be less than a distance of
      840
      feet north to south. It shall be located in the NW 1⁄4 of the NE 1⁄4 and the NE 1⁄4 of
      the NW 1⁄4 of Section 36, Township 96 North, Range 27 West of the 5th
      P.M.
      Kossuth County, Iowa. In the event construction or regulatory requirements
      of
      the ethanol plant permits the south boundary of the said 28 acre tract adjacent
      to Highway 18 and the adjacent 17 acre tract to be located farther south, Buyer
      shall attempt to make said 28 acre tract and said 17 acre tract as square as
      possible. This 28 acre parcel shall be more particularly described by legal
      survey at the expense of Buyer. This purchase shall be structured as a
      simultaneous exchange resulting in deferral of recognition of capital gain
      to
      the Seller pursuant to Internal Revenue Code §1031. 

    

    ii. Buyer
      shall have the option to purchase an additional 46.72 acres in the property
      described in Section A of this Option Agreement to be more particularly
      described by legal land survey located directly adjacent to the land described
      in paragraph C (i) above. The option price shall be $13,500.00 per acre for
      a
      total sum of $630,720.00. *

    

    iii. Buyer
      shall provide to Seller adequate drainage if this option is exercised on the
      North side of the proposed railroad spur to be constructed. Seller shall have
      the right to tie in to not less than an 8 inch field drainage tile. This field
      drainage tile outlet shall be extended by Buyer to the property line of Sellers.
      Buyer will provide drainage information on the Optioned property if requested
      by
      Sellers. Buyer agrees to provide at Buyer’s expense to adjacent land owned by
      Sellers adequate additional drain lines if drainage is impaired due to
      construction. 

    

    iv. Buyer
      shall facilitate and coordinate with Sellers transferring the corn base from
      the
      property described in Section 36 to the 28 acre tract which will be exchanged
      subject to approval of the Farm Service Agency and its related
      regulations.

    

    v. Buyer
      shall pay for all survey expense for the above described parcels. 

    

    D.
      The
      "Effective Date" shall be the date that the last of the parties to this
      Agreement signs and executes below.

    

    *Sellers
      shall have the right to complete an IRS §1031 Tax Deferred Exchange at no
      additional cost to Buyer. Buyer agrees to cooperate with Sellers to complete
      said IRS §1031 Tax Deferred Exchange. DK 7/3/07 CH 7/3/07 DK July 3, 2007 DK
      July 3, 2007 SEK 7-3-07

    
       

      
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    SECTION
      TWO

    

    OPTION
      TERMS

     

    A.
      The
      Seller, in consideration for the payment of the Option Deposit and other
      consideration, does hereby give to the Buyer the exclusive right and option
      to
      purchase the Property described above (the "Option").

    

    B.
      The
      Buyer shall have the right to exercise this Option during a period of time
      beginning at execution of this Agreement on the Effective Date and lasting
      until
      noon on the 10th
      day of
      April, 2008. The Buyer shall exercise this option by giving written notice
      by
      registered mail to the Seller at the address indicated above (the letter must
      be
      delivered to Seller by the time and date indicated above) or by hand delivering
      written notice to the Seller (with the Seller giving the Buyer a written receipt
      indicating the time and date of receipt). The date that the Seller receives
      this
      notice shall be known as the "Date of Commencement."

     

    SECTION
      THREE

     

    PROMISES
      OF PARTIES FOLLOWING EXERCISE OF OPTION

    

    Subject
      to the Buyer exercising this Option, the Seller and the Buyer agree that the
      Seller shall sell and the Buyer shall buy the Property upon the following terms
      and conditions. 

    

    A.
      Representations and Warranties

    To
      induce
      the Buyer to enter into this Agreement, the Seller makes the following
      representations, warranties, and covenants:

    

    1.
      Seller
      has good and marketable fee simple title to the Property, free and clear of
      all
      liens, property taxes, encumbrances, and restrictions, except for those
      restrictions appearing of record, taxes for the year of closing, encumbrances
      that will be cleared prior to closing, and encumbrances that will be cleared
      at
      the closing out of the Seller's proceeds from the Purchase Price.

    

    2.
      There
      are no condemnations or similar proceedings affecting any part of the Property
      and no such proceeding shall be pending on the Closing Date. To the best of
      the
      Seller's knowledge, no such condemnations or other proceeds are threatened
      or
      planned.

    

    3.
      There
      are no toxic wastes on, in or around the Property and the Property has not
      been
      used to manufacture, store, or dispose of environmentally hazardous
      materials

    

    4.
      There
      are no service contracts or agreements relating to the operation, maintenance,
      or security of the property under which the Seller is bound and which will
      survive the closing.

    
       

      
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    5.
      All
      encroachments, reservations, limitations, road right of ways, or servitudes
      affecting the Property are disclosed in the Public Records.

    

    6.
      The
      Seller is not subject to any commitment, obligation, or agreement, including,
      but not limited to, any right of first refusal or option to purchase, granted
      to
      a third party, which would or could prevent the Seller from completing the
      sale
      of the Property as contemplated by this Agreement.

    

    7.
      Seller
      shall be in sole and exclusive possession of the Property and will deliver
      possession of the Property free of all leases on the Closing Date.

    

    A.1.
      Representations and Warranties

     

    To
      induce
      the Sellers to enter into this Agreement, the Buyer makes the following
      representations, warranties, and covenants:

    

    1.
      Buyer
      has good and marketable fee simple title to the 28 acres (“28 Acres”) to be
      acquired by Sellers adjacent to Highway 18 located in the NW 1⁄4 of the NE 1⁄4 and
      the NE 1⁄4 of the NW 1⁄4 of Section 36, Township 96 North, Range 27 West of the
      5th
      P.M.
      Kossuth County, Iowa, free and clear of all liens, property taxes, encumbrances,
      and restrictions.

    

    2.
      There
      are no condemnations or similar proceedings affecting any part of the 28 Acres
      and no such proceeding shall be pending on the Closing Date. To the best of
      the
      Buyer's knowledge, no such condemnations or other proceeds are threatened or
      planned.

    

    3.
      There
      are no toxic wastes on, in or around the 28 Acres and the 28 Acres has not
      been
      used to manufacture, store, or dispose of environmentally hazardous
      materials

    

    4.
      There
      are no service contracts or agreements relating to the operation, maintenance,
      or security of the 28 Acres under which the Buyer is bound and which will
      survive the closing.

    

    5.
      All
      encroachments, reservations, limitations, road right of ways, or servitudes
      affecting the 28 Acres are disclosed in the Public Records.

    

    6.
      The
      Buyer is not subject to any commitment, obligation, or agreement, including,
      but
      not limited to, any right of first refusal or option to purchase, granted to
      a
      third party, which would or could prevent the Buyer from completing the
      conveyance and sale of the 28 Acres as contemplated by this
      Agreement.

    

    7.
      Buyer
      shall be in sole and exclusive possession of the 28 Acres and will deliver
      possession of the 28 Acres free of all leases on the Closing Date.

     

    B.
      Conditions Precedent

     

    The
      obligations of the Buyer to close this transaction are subject to the Buyer
      having given Notice to Purchase and subject to the following:

    

    1.
      All
      representations and warranties of the Seller shall be true and correct as of
      the
      Closing Date as if such representations and warranties were being made on such
      date.

    

    2.
      Seller
      shall have performed all covenants to be performed by the Seller as is herein
      provided.

    
       

      
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    3.
      The
      Property shall be vacant and any tenant relocation costs shall be incurred
      by
      the Seller.

    

    4.
      If any
      of such conditions are not fulfilled on or as of the Closing Date, and
      notwithstanding anything to the contrary in this Agreement, the Buyer shall
      have
      the right to terminate this Agreement and to obtain a full refund of any
      deposits made to the Seller or escrow agent whereupon all parties shall be
      relieved of any further obligations hereunder.

     

    B.1.
      Conditions Precedent

     

    The
      obligations of the Sellers to close this transaction are subject to the
      following:

    

    1.
      All
      representations and warranties of the Buyer shall be true and correct as of
      the
      Closing Date as if such representations and warranties were being made on such
      date.

    

    2.
      Buyer
      shall have performed all covenants to be performed by the Buyer as is herein
      provided.

    

    3.
      The 28
      Acres shall be vacant and any tenant relocation costs shall be incurred by
      the
      Buyer.

    

    4.
      If any
      of such conditions are not fulfilled on or as of the Closing Date, and
      notwithstanding anything to the contrary in this Agreement, the Sellers shall
      have the right to terminate this Agreement and retain all payments made to
      the
      Seller and all parties shall be relieved of any further obligations
      hereunder.

     

    C.
      Clear
      Title

    

    1.
      Within
      90 days of the execution of this Agreement by the Seller, the Seller shall
      deliver to the Buyer any abstracts of title and surveys for the Property that
      are in the Seller's possession or which the Seller might obtain possession
      of by
      reasonable efforts. The Buyer shall return to these items to the Seller if
      the
      closing never occurs and this Contract is terminated. At closing, the Seller
      shall pay for any update of the abstract of title information that might be
      necessary so as to enable the Buyer to obtain clear title for the
      Property.

    

    2.
      Seller
      shall convey a marketable title, subject only to liens, encumbrances,
      exceptions, or qualifications set forth in this Agreement and those which shall
      be discharged by Seller at or before closing. Marketable title shall be
      determined according to applicable title standards adopted by authority of
      the
      Iowa State Bar Association and in accordance with law.

    

    3.
      If the
      Buyer discovers that the title is defective, the Buyer shall notify the Seller
      in writing specifying the defect(s). If the defect(s) render the title
      unmarketable or uninsurable the Seller will have 120 days from receipt of notice
      within which to remove the defect(s), and if the Seller is unsuccessful in
      removing them within such time, the Buyer shall have the option of either
      accepting the title as it then is, or demanding a refund of all monies paid
      hereunder which shall forthwith be returned to the Buyer and thereupon the
      Buyer
      and the Seller shall be released as to one another of all further obligations
      under this Agreement. All expenses to clear title defects shall be paid by
      the
      Seller.

    
       

      
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    C.1.
      Clear Title

    

    1.
      Within
      90 days of the execution of this Agreement by the Seller, the Buyer shall
      deliver to the Sellers any abstracts of title and surveys for the 28 Acres
      that
      are in the Buyer's possession or which the Buyer might obtain possession of
      by
      reasonable efforts. The Sellers shall return to these items to the Buyer if
      the
      closing never occurs and this Contract is terminated. At closing, the Buyer
      shall pay for any update of the abstract of title information that might be
      necessary so as to enable the Sellers to obtain clear title for the 28
      Acres.

    

    2.
      Buyer
      shall convey marketable title, subject only to those liens which shall be
      discharged by Buyer at or before closing. Marketable title shall be determined
      according to applicable title standards adopted by authority of the Iowa State
      Bar Association and in accordance with law.

    

    3.
      If the
      Sellers discover that the title is defective, the Sellers shall notify the
      Buyer
      in writing specifying the defect(s). If the defect(s) render the title
      unmarketable or uninsurable the Buyer will have 120 days from receipt of notice
      within which to remove the defect(s), and if the Buyer is unsuccessful in
      removing them within such time, the Sellers shall have the option of either
      accepting the title as it then is, or terminating this Option and thereupon
      the
      Buyer and the Sellers shall be released as to one another of all further
      obligations under this Agreement. All expenses to clear title defects shall
      be
      paid by the Buyer.

     

    D.
      Closing

    

    1.
      This
      transaction shall be closed and the deed and other closing papers delivered
      within 90 days following the Date of Commencement of this Agreement (the
      "Closing Date") unless extended by other provisions of this Contract or by
      the
      mutual consent of both parties. The closing date shall be set by mutual
      agreement after Buyer notifies Seller that it will exercise its option. The
      closing shall be held in Goldfield, Wright County, Iowa, at the office of the
      attorney or other closing agent designated by the Buyer.

    

    2.
      At
      closing the Buyer shall pay the cash portion of the Purchase Price by bank
      cashier's check or certified check either of which shall be issued by and drawn
      on a local institution and the Seller shall furnish the deed, an absence of
      lien
      affidavit, non-foreign status affidavit, and any corrective instruments that
      may
      be required in connection with perfecting the title. The Buyer shall furnish
      the
      deed, an absence of lien affidavit, non-foreign status affidavit, and any
      corrective instruments that may be required in connection with perfecting the
      title to the 28 Acres. The Buyer shall furnish the closing
      statement.

    

    3.
      The
      Seller shall pay the following closing costs: state documentary stamps, the
      cost
      of recording any corrective instruments and continuation of abstract of title
      for the Property. The Buyer shall pay the cost of recording the deed,
      abstracting and the cost for recording the purchase money mortgage (if any).
      The
      Buyer shall pay the following closing costs: state documentary stamps, the
      cost
      of recording any corrective instruments and continuation of abstract of title
      for the 28 Acres. The Sellers shall pay the cost of recording the deed,
      abstracting and the cost for recording the purchase money mortgage (if
      any).

    
       

      
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    E.
      Restrictions; Easements; Limitations

     

    The
      Buyer
      and Sellers shall take their respective title subject to: zoning, restrictions,
      prohibitions, and other requirements imposed by governmental authority;
      restrictions and matters appearing on the plat or otherwise common to the
      subdivision; public utility easements of record; taxes for year of closing
      and
      subsequent years; assumed mortgages and purchase money mortgages, and the
      following other exceptions (if any): provided, however, that there exists at
      closing no violation of the foregoing and the same does not prevent the use
      of
      the Property for manufacturing and refining purposes for the Buyer, or, does
      not
      prevent the use of the 28 Acres for farming for the Sellers.

    

    F.
      Survey

     

    The
      Buyer, at the Buyer's expense, within 120 days following the Date of Notice
      of
      Exercising its Option, shall have the Property and the 28 Acres surveyed and
      certified by a registered Iowa surveyor. 

    

    G.
      Liens

     

    The
      Sellers and Buyer shall furnish to the other party at time of closing an
      affidavit attesting to the absence, unless otherwise provided for herein, of
      any
      financing statements, claims of lien or potential lienors known to the affiant
      and further attesting that there have been no improvements or repairs to their
      respective tracts of real estate for 90 days immediately preceding the date
      of
      closing in a form satisfactory to the other party. If the real estate has been
      improved, or repaired within such time, the owner shall deliver releases or
      waivers of mechanic's liens, executed by all general contractors,
      subcontractors, suppliers, and materialmen, in addition to the lien affidavit
      setting forth the names of all such general contractors, subcontractors,
      suppliers, and materialmen and further reciting that in fact all bills for
      work
      to the real estate or personalty which could serve as a basis for a mechanic's
      lien or a claim for damages have been paid or will be paid at
      closing.

    

    H.
      Prorations

     

    Taxes
      and
      assessments (if any) shall be prorated through the day to the closing. Cash
      at
      closing shall be increased or decreased as may be required by said prorations.
      All prorations will be made through the day prior to occupancy if occupancy
      occurs before closing. Taxes shall be prorated based on the current year's
      tax
      with due allowance made for maximum allowable discount and homestead or other
      exemptions if allowed for said year. 

    

    I.
      Special Assessment Liens

     

    Certified,
      confirmed, and ratified special assessment liens as of the date of closing
      (and
      not as of Effective Date) are to be paid by the owner. Pending liens as of
      the
      date of closing shall be assumed by grantee, provided, however, that if the
      improvement has been substantially completed as of the Effective Date, such
      pending lien shall be considered as certified, confirmed, and ratified and
      the
      grantor shall, at closing, be charged an amount equal to the last estimate
      by
      the public body of assessment for the improvement.

    

    J.
      Attorney's Fees; Costs

     

    In
      connection with any litigation arising out of this Agreement, the prevailing
      party shall be entitled to recover reasonable attorney's fees and
      costs.

    

    K.
      Contract Not Recordable; Persons Bound; Notice

     

    Neither
      this Agreement nor any notice thereof shall be recorded in any public records.
      This Agreement shall bind and inure to the benefit of the parties hereto and
      their successors in interest. Whenever the context permits, singular shall
      include plural and one gender shall include all. Notice given by or to the
      attorney for any party shall be as effective as if given by or to the
      party.

    
       

      
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    L.
      Occupancy

     

    Sellers
      and Buyer represent that there are no parties in occupancy other than the
      parties or their employees and agents. Sellers and Buyer agree to deliver
      occupancy of the property at the time of closing. If occupancy is to be
      delivered prior to closing, the grantee assumes all risk of loss to the real
      estate to be acquired and personalty for the date of occupancy, and shall be
      responsible and liable for maintenance thereof from such date, and shall be
      deemed to have accepted the real estate and personalty in their existing
      condition as of the time of taking occupancy unless otherwise stated herein
      or
      in a separate writing.

    

    M.
      Conveyance

     

    Sellers
      shall convey title to the Property by statutory warranty, trustee, personal
      representative, or guardian deed, as appropriate to the status of the Seller,
      subject only to matters contained in Section C hereof and those otherwise
      accepted by Buyer. Buyer shall convey title to the 28 Acres by corporate
      warranty deed, subject only to matters contained in Section C.1. hereof and
      those otherwise accepted by Sellers.

    

    N.
      Other
      Agreements

     

    a.
       In
      the
      event this option is exercised where growing crops are not able to be harvested
      by Sellers by the Closing Date, Buyer shall reimburse Sellers for the fair
      and
      reasonable value of such crops. Fair and reasonable value shall be determined
      and calculated by the estimated lost yield as determined by an adjuster mutually
      agreeable to the parties capable of determining crop yields, or, the previous
      5
      year average yield reported for federal crop insurance, whichever is greater.
      The crop yield shall be multipled times the average price at the Wesley elevator
      for the month of March following the destruction of the crop. Payment for the
      total crop shall be paid to Sellers no later than April 15 following destruction
      of the crop. 

     

    b.
       Seller
      will provide to Buyer a copy of the existing tile map for the entire Kirsch
      farm
      to be used in designing of the drainage system for the ethanol plant. This
      will
      facilitate Buyer in planning and providing a good outlet for drainage tile
      from
      the Kirsch property. It is agreed by Buyer to provide an adequate drainage
      outlet over and across the land to be acquired by Buyer to drain Buyer’s land
      and to drain the land retained by the Sellers and the land to be acquired by
      the
      Sellers under this Option. Buyer shall pay for the cost of the outlet. Seller
      shall pay for the cost to connect the drainage lines to drain their land to
      the
      main drainage outlet to be installed by the Buyer. . Buyer will maintain and
      repair such drain lines that are located on Buyer’s property. 

     

    c.
       Currently,
      this option contemplates that Buyer will utilize 74.72 acres for the ethanol
      plant. The number of actual acres purchased regardless shall be less 74.72
      acres. 

     

    d.
       No
      prior
      or present agreements or representations shall be binding upon Buyer or Sellers
      unless included in this Agreement. No modifications or changes in this Agreement
      shall be valid or binding upon the parties unless in writing and executed by
      the
      party or parties to be bound thereby.

     

    e Buyer
      may
      conduct soil tests as engineering may require in the ordinary course of business
      to comply with construction requirements and regulatory requirements. Buyer
      will
      be responsible for any and all damaged crops as set forth in paragraph N (a)
      above for any said tests conducted. Buyer shall pay for any compaction expense
      for any soil tested. 

     

    f. At
      Buyer’s sole discretion any black dirt which becomes available for removal
      because of construction Seller may have the first option to remove the black
      dirt at Seller’s expense. This Option may be limited in time at Buyer’s
      discretion because of safety and security requirements. 

     

    g. The
      original option provided for the possibility of Seller renting tillable farmland
      not utilized for the ethanol plant. Regulatory and engineering requirements
      prohibit such possibility. Therefore the option of Sellers to farm tillable
      farmland from Buyer is no longer available. 

    
       

      
        Option
          Agreement

        Malloy
          Law Firm

        Page 8 of
          10

         

      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    O.
      Typewritten or Handwritten Provisions

     

    Typewritten
      or handwritten provisions inserted herein or attached hereto as addenda shall
      control all printed provisions of this contract in conflict
      therewith.

     

    The
      parties have executed this agreement at their respective addresses the day
      and
      year first above written.

     

    P.
      The
      representations and warranties set forth in this Agreement shall survive the
      closing and shall remain in full force and effect after the Closing Date.

     

    THIS
      IS
      INTENDED TO BE A LEGALLY BINDING CONTRACT. DO NOT SIGN IF THERE ARE BLANK SPACES
      NOT FILLED IN. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR
      TO
      SIGNING.

     

    Dated:
      July
      3, 2007.

    

    
      	
              BUYER

            	 	
              SELLER

            
	 	 	 
	
              PRIARIE
                CREEK ETHANOL, LLC

            	 	
              /s/
                David Kirsch

            
	 	 	
              
                

              

              David
                Kirsch

            
	
              By:

            	
              /s/
                Clay Hansen

            	 	 
	
              Its:

            	
              

              President

            	 	
              /s/
                Susan E. Kirsch

            
	
            	
              
 	 	
              
                

              

              Susan
                Kirsch

            
	 	 	 	
               

               

            
	 	 	 	
              /s/
                Darrell Kirsch

            
	 	 	 	
              
                

              

              Darrell
                Kirsch

            
	 	 	 	
               

               

            
	 	 	 	
              /s/
                Dawn Kirsch

            
	 	 	 	
              
                

              

              Dawn
                Kirsch

            

    

     

    
      	STATE OF IOWA	)
	 	) SS:
	COUNTY OF  Wright	)

    

     

    On
      this 
      3rd
      day
      of July ,
      200
      7
,
      before
      me, the undersigned, a Notary Public in and for said County and State,
      personally appeared Clay
      Hansen ,
      to me
      personally known, who, being by me duly sworn, did say that he/she is the
President
      of
      said
      corporation; that said instrument was signed on behalf of said corporation
      by
      its authority; and that the said _______ as
      such
      officer acknowledged the execution of said instrument to be the voluntary act
      and deed of said corporation, by it and by him/her voluntarily
      executed.

     

    
      	 	 	 	 
	
              7-31-10

            	 	 	/s/
              Janis
              Douglas
	
            	 	 	
              
Notary
              Public in and for the
              State

    

    
       

      
        Option
          Agreement

        Malloy
          Law Firm

        Page 9 of
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        	STATE OF IOWA	)
	 	) SS:
	COUNTY OF  Hancock	)

      

    

    

    On
      this
3
      day
      of
July
      200
      7
,
      before
      me, the undersigned, a Notary Public in and for said State, personally appeared
      David
      Kirsch and Susan Kirsch, husband and wife, known
      to
      be the identical persons named in and who executed the foregoing instrument
      and
      acknowledged that they executed the same as their voluntary act and deed.

    
       

      
        	 	 	 	 
	
              	 	 	/s/
                Susan
                Burrs
	
              	 	 	
                
Notary
                Public in and for Said State
	 	 	 	 
	 	 	 	
                [NOTARIAL
                  SEAL - SUSAN BURRS]

              
	 	 	 	[IOWA - COMMISSION NUMBER
                186830]
	 	 	 	[My Comm. Exp. 10-1-2008]

      

       

    

    
      
        
          	STATE OF IOWA	)
	 	) SS:
	COUNTY OF  Hancock	)

        

      

       

    

    On
      this
3rd day of July 2007, before me, the
      undersigned, a Notary Public in and for said State, personally appeared
Darrell
      Kirsch and Dawn Kirsch, husband and wife, known
      to
      be the identical persons named in and who executed the foregoing instrument
      and
      acknowledged that they executed the same as their voluntary act and deed.

    
       

      
        	 	 	 	 
	
              	 	 	/s/
                David J.
                Siegrist
	
              	 	 	
                
Notary
                Public in and for Said
                State

    

     

    [NOTARIAL
      SEAL - DAVID J. SIEGRIST]

    [IOWA
      -
      COMMISSION NO. 123331]

    [MY
      COMMISSION EXPIRES]

    [May
      12,
      2009]

    
       

      
        Option
          Agreement

        Malloy
          Law Firm

        Page
          10 of
          10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}]]