Document:

Exhibit
10.2

 

FIRST AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT

 

This First Amendment to Revolving Credit and
Security Agreement (the “First Amendment”),  is
made this 6th day of August, 2010 among AVENTINE
RENEWABLE ENERGY HOLDINGS, INC., a Delaware corporation (“Holdings”),
AVENTINE RENEWABLE ENERGY — AURORA WEST, LLC,
a Delaware limited liability company (“Aventine Renewable Aurora”), AVENTINE RENEWABLE ENERGY, INC., a Delaware corporation
(“Aventine Renewable Inc.”), AVENTINE RENEWABLE ENERGY —
MT VERNON, LLC, a Delaware limited liability company (“Aventine
Renewable Mt. Vernon”), AVENTINE POWER, LLC,
a Delaware limited liability company (“Aventine Power”), NEBRASKA
ENERGY, L.L.C., a Kansas limited liability company (“Nebraska Energy”
and together Holdings, Aventine Renewable Aurora, Aventine Renewable Inc.,
Aventine Renewable Mt. Vernon and Aventine Power, each a “Borrower” and jointly
and severally, the “Borrowers”), the financial institutions which are now or
which hereafter become a party hereto as “Lenders” (collectively, the “Lenders”),
and PNC BANK, NATIONAL ASSOCIATION,
as administrative agent and collateral agent for the Lenders (in each such
capacity, “Agent”).

 

BACKGROUND

 

A.            On March 15, 2010,
Borrowers, Lenders and Agent entered into, inter  alia, that
certain Revolving Credit and Security Agreement (as same has been or may
hereafter be amended, modified, renewed, extended, restated or supplemented
from time to time, the “Loan Agreement”) to reflect certain financing
arrangements among the parties thereto. 
The Loan Agreement and all other documents executed in connection
therewith to the date hereof are collectively referred to as the “Existing
Financing Agreements.”  All capitalized
terms used not otherwise defined herein shall have the meaning ascribed thereto
in the Loan Agreement, as amended hereby.

 

B.            Holdings
intends to enter into an Asset Purchase Agreement (the “Canton
Purchase Agreement”) with New CIE Energy Opco, LLC, a Delaware limited
liability company (the “Seller”), pursuant to which Seller shall sell, and
Holdings shall purchase, substantially all of the assets of Seller (the “Acquired
Assets”), on the terms and conditions set forth therein (such sale and
purchase, the “Acquisition”); and

 

C.            Borrowers have requested and
Agent and Lenders have agreed to: (i) consent to the Acquisition and (ii) modify
certain terms and provisions of the Loan Agreement, in each case on the terms
and subject to the conditions contained in this First Amendment.

 

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

 

Section 1.              Consent.

 

(a)           In reliance upon the documentation and information
provided to Agent in connection with the Acquisition, including without
limitation, the Canton Purchase Agreement, and notwithstanding anything to the
contrary contained in the Loan Agreement, upon satisfaction of the conditions
set forth in Section 4 below, Agent and Lenders hereby consent to the
Acquisition.

 

 

(b)           This consent shall be effective only as to the
Acquisition.  This consent shall not be
deemed a consent to the breach by Borrowers of other covenants or agreements
contained in any Existing Financing Agreement with respect to any other
transaction or matter. Borrowers agree that the consent set forth in the
preceding paragraph (a) shall be limited to the precise meaning of the
words as written therein and shall not be deemed (i) to be a consent to,
or any waiver or modification of, any other term or condition of any Existing
Financing Agreement, or (ii) to prejudice any right or remedy that Agent
or Lenders may now have or may in the future have under or in connection with
any Existing Financing Agreement other than with respect to the matters for
which the consent in the preceding paragraph (a) has been provided.  Other than as described in this Amendment,
the consent described in the preceding paragraph (a) shall not alter,
affect, release or prejudice in any way any of the Borrowers’ Obligations under
the Existing Financing Agreements.  This
consent shall not be construed as establishing a course of conduct on the part
of Agent or Lenders upon which the Borrowers may rely at any time in the
future. Borrowers expressly waive any right to assert any claim to such effect
at any time.

 

Section 2.              Amendments to Loan Agreement.

 

(a)           Amended Definitions.   Upon the Effective Date (as defined below), Section 1.2
of the Loan Agreement shall be amended by deleting the definition of “Letter
of Credit Sublimit” and restating such definition in its entirety as
follows:

 

“Letter
of Credit Sublimit” shall mean Seventeen Million Dollars ($17,000,000).

 

(b)           New Definitions. Upon the Effective Date, Section 1.2
of the Loan Agreement shall be amended by adding the following definitions:

 

“Canton Purchase Agreement” shall mean the
Asset Purchase Agreement, including all exhibits and schedules thereto, dated
as of August 6, 2010, by and between New CIE Energy Opco, LLC, a Delaware
limited liability company, as seller, and Holdings, as buyer.

 

“First
Amendment” shall mean that certain First Amendment to Revolving Credit and
Security Agreement dated the First Amendment Date.

 

“First
Amendment Date” shall mean August 6, 2010.

 

(c)           Covenant to Exercise Rights.  Upon the Effective Date, the following “Section 6.11”
shall hereby be added to Article VI of the Loan Agreement:

 

6.11         Exercise of Rights.  In its commercially reasonable judgment,
enforce all of its rights under the Canton Purchase Agreement and any documents
or agreements executed in connection therewith, including, but not limited to,
all indemnification rights and pursue all remedies available to such Borrower
with diligence and in good faith in connection with the enforcement of any such
rights.

 

(d)           Capital Expenditures.  Upon the Effective Date, Section 7.6 of
the Loan Agreement shall be deleted in its entirety and replaced as follows:

 

2

 

Capital Expenditures.  Contract for, purchase or make any
expenditure or commitments for Capital Expenditures in an aggregate amount for
all Borrowers in excess of: (a) $115,000,000 for the fiscal year ending December 31,
2010; (b) $10,000,000 for fiscal year ending December 31, 2011; (c) $20,000,000
for fiscal year ending December 31, 2012; and (d) $7,000,000 for
fiscal year ending December 31, 2013 and each fiscal year thereafter.

 

(e)           Inventory Reporting.  Upon the Effective Date, Section 9.16 of
the Loan Agreement shall be deleted in its entirety and replaced as follows:

 

Daily Inventory Reporting. Unless
otherwise agreed to by Agent, in the event that Borrowers’ available
unrestricted cash falls below $20,000,000 at any time, Borrowers shall deliver
to Agent on a daily basis a report setting forth Borrowers’ in-transit
Inventory in form and substance reasonably acceptable to Agent.

 

(f)            Amendment to Schedules. Upon the
Effective Date, the Schedules to the Loan Agreement are hereby amended by
deleting such Schedules in their entirety and substituting the respective
Schedules attached hereto as Annex I in lieu therefor.

 

Section 3.              Security
Interest.  As security
for the payment of the Obligations, and satisfaction by Borrowers of all
covenants and undertakings contained in the Loan Agreement, the Other Documents
and the Existing Financing Agreements, each Borrower reconfirms the prior grant
of the security interest in and first priority, perfected lien in favor of
Agent for its benefit and the ratable benefit of each Lender, upon and to, all
of its right, title and interest in and to the Collateral, whether now owned or
hereafter acquired, created or arising and wherever located.

 

Section 4.              Conditions Precedent.  This First Amendment shall
be effective on the date (such date, the “Effective Date”) when each of the
following conditions precedent shall have occurred:

 

(a)           Agent shall have received this First Amendment, duly
executed and delivered by an authorized officer of each of the Borrowers and
the Lenders.

 

(b)           Agent shall have received, for the ratable benefit
of Lenders, a non-refundable amendment fee in the amount of $35,000.00.

 

(c)           Agent shall have received and reviewed to its
satisfaction full, complete, final and signed copies of the Canton Purchase
Agreement (together with all exhibits and schedules thereto) and all other
documents executed by any party to the Canton Purchase Agreement and delivered
to the other party to the Canton Purchase Agreement in connection therewith,
all in form and substance satisfactory to Agent in its reasonable
discretion.  In addition, the Acquisition
shall have been consummated in accordance with the terms of the Canton Purchase
Agreement, as in effect on the Effective Date.

 

(d)           Since the Closing Date, there shall not have occurred
any event, condition or state of facts which could reasonably be expected to
have a Material Adverse Effect.

 

3

 

(e)           Each of the representations and warranties made by
each Borrower in or pursuant to the Loan Agreement, as amended hereby, and any
Other Document, and each of the representations and warranties contained in any
certificate, document or financial or other statement furnished at any time
under or in connection with the Loan Agreement, as amended hereby, and any
Other Document, shall be true and correct in all material respects on and as of
such date.

 

(f)            No Event of Default or Default shall have occurred
and be continuing on the Effective Date, or would exist on the Effective Date
after giving effect to the transactions contemplated by this First Amendment
(including, without limitation, the Acquisition).

 

(g)           No litigation, investigation or proceeding before or
by any arbitrator or Governmental Body shall be continuing or, to the knowledge
of any Borrower, threatened against any Borrower or against the officers or
directors of any Borrower (A) in connection with this First Amendment, the
Loan Agreement, the Other Documents, the Canton Purchase Agreement or any of
the transactions contemplated hereby or thereby and which, in the reasonable
opinion of Agent, is deemed material or (B) which could, in the reasonable
opinion of Agent, have a Material Adverse Effect; and (ii) no injunction,
writ, restraining order or other order of any nature materially adverse to any
Borrower or the conduct of such Borrower’s business or inconsistent with the
due consummation of the transactions contemplated by this First Amendment
(including, without limitation, the Acquisition) shall have been issued by any
Governmental Body.

 

Section 5.              Post Closing Conditions.

 

(a)           Within thirty (30) days after the First Amendment
Date, Borrowers shall deliver to Agent a fully executed Access and Waiver
Agreement, in form and substance satisfactory to Agent, relating to the premises
leased under that certain Lease Agreement by and between Amerenenergy Resources
Generating Company and Central Illinois Energy, L.L.C. (as predecessor to the
Seller), dated as of August 11, 2005; provided however that failure to
deliver any such Access and Waiver Agreement shall not be deemed to be an Event
of Default hereunder; provided further that Borrowers acknowledge and agree
that any Inventory located at any location for which an Access and Waiver
Agreement has not been delivered to Agent shall not be included in the Formula
Amount, unless Agent agrees to permit the inclusion of such Inventory in the
Formula Amount subject to a rent reserve, to be determined by Agent in its
reasonable discretion.

 

(b)           Borrowers shall deliver to Agent, no later than the
close of business on August 10, 2010, evidence of (i) the payment in
full of all outstanding obligations under that certain Credit and Security
Agreement by and between Seller and Whitebox Hedged High Yield Partners, LP,
dated as of November 5, 2008, as amended (the “Whitebox Credit Agreement”),
(ii) the termination of the Whitebox Credit Agreement and (iii) the
release of all related security interests and liens, if any, in the assets and
properties of the Seller.

 

Section 6.              Confirmation
of Indebtedness.  Borrowers
confirm and acknowledge that as of the close of business on August 6,
2010, Borrowers were indebted to Agent and Lenders: (i) on account of
Revolving Advances under the Loan Agreement in the aggregate principal amount
of $0.00; and (ii) on account of undrawn Letters of Credit under the Loan 

 

4

 

Agreement
in the aggregate principal amount of $3,428,000.00, plus all fees, expenses and
accrued but unpaid interest and in each case without any deduction, defense,
setoff, claim or counterclaim, of any nature.

 

Section 7.              General
Provisions.

 

(a)           Except as herein expressly amended, the Loan
Agreement, the Other Documents and any other agreements, documents, instruments
and certificates executed in connection therewith, are ratified and confirmed
in all respects and shall remain in full force and effect in accordance with
their respective terms.

 

(b)           From and after the Effective Date, all references in
this First Amendment, the Loan Agreement and the Other Documents to “this Loan
Agreement,” “the Loan Agreement”, “hereof,” “herein,” “therein” or similar
terms, shall mean and refer to the Loan Agreement as has been amended and as
further amended by this First Amendment.

 

(c)           This First Amendment shall be governed by and
construed in accordance with the laws of the State of Illinois applied to
contracts to be performed wholly within the State of Illinois.  Any judicial proceeding brought by or against
any Borrower with respect to this First Amendment may be brought in any court
of competent jurisdiction in the State of Illinois, United States of America,
and, by execution and delivery of this First Amendment, each Borrower accepts
for itself and in connection with its properties, generally and unconditionally,
the non-exclusive jurisdiction of the aforesaid courts, and irrevocably agrees
to be bound by any judgment rendered thereby in connection with this First
Amendment.  Each Borrower hereby waives
personal service of any and all process upon it and consents that all such
service of process may be made by registered mail (return receipt requested)
directed to Borrowing Agent at its address set forth in Section 16.6 of
the Loan Agreement and service so made shall be deemed completed after the same
shall have been received by the Borrowing Agent, or at the Agent’s option, by
service upon Borrowing Agent which each Borrower irrevocably appoints as such
Borrower’s agent for the purpose of accepting service within the State of
Illinois.  Nothing herein shall affect
the right to serve process in any manner permitted by law or shall limit the
right of Agent or any Lender to bring proceedings against any Borrower in the
courts of any other jurisdiction.  Each
Borrower waives any objection to jurisdiction and venue of any action
instituted hereunder in any court of competent jurisdiction in the State of
Illinois and shall not assert any defense based on lack of jurisdiction or
venue or based upon forum non conveniens. 
Each Borrower waives the right to remove any judicial proceeding brought
against such Borrower in any state court to any federal court.  Any judicial proceeding by any Borrower
against Agent or any Lender involving, directly or indirectly, any matter or
claim in any way arising out of, related to or connected with this First
Amendment or any related agreement, shall be brought only in a federal or state
court located in the County of Cook, State of Illinois.

 

(d)           The Loan Agreement as amended hereby contains the
entire understanding between each Borrower, Agent and each Lender and
supersedes all prior agreements and understandings, if any, relating to the
subject matter hereof.  Any promises,
representations, warranties or guarantees not herein or therein contained and
hereinafter made shall have no force and effect unless in writing, signed by
each Borrower’s, Agent’s and each Lender’s respective officers.  Neither this First Amendment nor any portion
or provisions hereof may be changed, modified, amended, waived, supplemented,
discharged, cancelled or terminated orally or by any 

 

5

 

course
of dealing, or in any manner other than by an agreement in writing, signed by
the party to be charged.  Each Borrower
acknowledges that it has been advised by counsel in connection with the
execution of this First Amendment and is not relying upon oral representations
or statements inconsistent with the terms and provisions of this First
Amendment.

 

(e)           If any part of this First Amendment is contrary to,
prohibited by, or deemed invalid under Applicable Laws or regulations, such
provision shall be inapplicable and deemed omitted to the extent so contrary,
prohibited or invalid, but the remainder hereof shall not be invalidated
thereby and shall be given effect so far as possible.

 

(f)            All costs and expenses, including reasonable
attorneys’ fees and disbursements incurred by Agent on its behalf or on behalf
of any Lender or by any Lender on its behalf or on behalf of Agent or any other
Lender in connection with the negotiation, preparation and entering into of the
this First Amendment may be charged to the Borrowers’ Account and shall be part
of the Obligations.

 

(g)           The captions at various places in this First
Amendment are intended for convenience only and do not constitute and shall not
be interpreted as part of this First Amendment.

 

(h)           This First Amendment may be executed in any number
of and by different parties hereto on separate counterparts, all of which, when
so executed, shall be deemed an original, but all such counterparts shall
constitute one and the same agreement. 
Any signature delivered by a party by facsimile transmission shall be
deemed to be an original signature hereto.

 

(i)            The parties acknowledge that each party and its
counsel have reviewed this First Amendment and that the normal rule of
construction to the effect that any ambiguities are to be resolved against the
drafting party shall not be employed in the interpretation of this First
Amendment or any amendments, schedules or exhibits thereto.

 

(j)            Nothing contained in this First Amendment shall be
deemed to constitute a waiver of any Default or Event of Default, whether or
not Agent or any Lender has knowledge thereof.

 

(Signature Page Follows)

 

6

 

IN WITNESS WHEREOF, the parties hereto have
caused this First Amendment to be duly executed by their respective officers
thereunto duly authorized as of the day and year first above written.

 

	
   

  	
  PNC BANK, NATIONAL ASSOCIATION,

  
	
   

  	
  as Agent and a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Sherry Winick

  
	
   

  	
  Name:

  	
  Sherry
  Winick

  
	
   

  	
  Title:

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  AVENTINE
  RENEWABLE ENERGY HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas Manuel

  
	
   

  	
  Name:

  	
  Thomas
  Manuel

  
	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  AVENTINE
  RENEWABLE ENERGY — AURORA WEST, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas Manuel

  
	
   

  	
  Name:

  	
  Thomas
  Manuel

  
	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  AVENTINE
  RENEWABLE ENERGY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas Manuel

  
	
   

  	
  Name:

  	
  Thomas
  Manuel

  
	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  AVENTINE
  RENEWABLE ENERGY — MT VERNON, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas Manuel

  
	
   

  	
  Name:

  	
  Thomas
  Manuel

  
	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  AVENTINE
  POWER, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas Manuel

  
	
   

  	
  Name:

  	
  Thomas
  Manuel

  
	
   

  	
  Title:

  	
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  NEBRASKA ENERGY, L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas Manuel

  
	
   

  	
  Name:

  	
  Thomas
  Manuel

  
	
   

  	
  Title:

  	
  CEO

  

 

 

ANNEX I

 

Schedules

 

(See Attached)

 

8

 

SCHEDULE 1.2

 

PERMITTED ENCUMBRANCES

 

	
  Borrower

  	
   

  	
  Secured Party

  	
   

  	
  Amount

  	
   

  
	
  Aventine Renewable
  Aurora

  	
   

  	
  DCR Construction, Inc.

  	
   

  	
  $

  	
  454,461.03

  	
   

  
	
  Aventine Renewable Inc.

  	
   

  	
  Atlantic Plant Services

  	
   

  	
  $

  	
  46,709.41

  	
   

  

 

Except
as described below, encumbrances referenced above have been discharged in
accordance with the Plan of Reorganization. 
Although the Borrower believes that the encumbrance in favor of DCR
Construction, Inc. has also been discharged, the Borrower has placed 150%
of the amount of such encumbrance in escrow with the related title
company.  The Borrower anticipates that
this deposit will be returned to it when the title company determines that the
lien has been discharged.  The Borrower
will diligently pursue removal of such liens with each lienholder.

 

 

SCHEDULE 4.5

 

EQUIPMENT AND INVENTORY LOCATIONS

 

	
  Borrower

  	
   

  	
  Location of Inventory

  
	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Motiva
  Enterprises, L.L.C.

  4127 Winters Chapel Road

  Doraville, GA 30360

  
	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  F.C.
  Haab Co., Inc.

  2314 Market Street

  Philadelphia, PA 19103

  
	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Kinder
  Morgan Liquid Terminals, L.L.C.

  8500 West 68th Street

  Argo, IL 60501

  
	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Buckeye
  Terminals, L.L.C.

  14410 N. Old Galena Road

  Chillicothe, IL 61523

  
	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Buckeye
  Terminals, L.L.C.

  18264 N. US Highway 45

  Effingham, IL 62401

  
	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Parke
  Warehouse

  1800 E Garfield Avenue

  Decatur, IL 62525

  
	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Bell
  Enterprises

  30082 Harding Road

  Deer Creek, IL 61733

  

 

 

	
  Borrower

  	
   

  	
  Place of Business

  	
   

  	
  Executive Office

  
	
  Holdings

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  1300
  S. Second Street

  Pekin, IL 61554

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Aurora

  	
   

  	
  2103
  Harvest Drive

  Aurora, NE 68818

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Mt Vernon

  	
   

  	
  7201
  Port Road

  Mt. Vernon, IN 47620

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Power

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nebraska Energy

  	
   

  	
  1205
  South “O” Road

  Aurora, NE 68818

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  

 

	
  Borrower

  	
   

  	
  Real Property

  	
   

  	
  Owned/Leased

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  120
  N. Parkway Drive

  Pekin, IL 61554

  	
   

  	
  Leased.  Landlord is:

   

  DTHC
  Properties Land Trust

  105 N. Parkway Drive

  Pekin, IL 61554

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  1300
  S. Second Street

  Pekin, IL 61554

  	
   

  	
  Owned

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  2103
  Harvest Drive

  Aurora, NE 68818

  	
   

  	
  Owned

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Mt Vernon

  	
   

  	
  7201
  Port Road

  Mt. Vernon, IN 47620

  	
   

  	
  Leased.  Landlord is:

   

  Ports
  of Indiana

  150 W. Market Street

  Suite 100

  Indianapolis, IN 46204

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nebraska
  Energy

  	
   

  	
  1205
  South “O” Road

  Aurora, NE 68818

  	
   

  	
  Owned

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Parcel
  1:

  A part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton 

  	
   

  	
  Owned

  

 

 

	
   

  	
   

  	
  County, Illinois,
  more particularly described as follows and bearings refer to Cilco Duck Creek
  boundary map, recorded in Slide 15, Fulton County, Recorder’s Office:

   

  Beginning
  at the Northwest corner of said Southwest Quarter of Section 13; thence
  along the North line of said Southwest Quarter North 89 degrees 03 minutes 25
  seconds East, a distance of 1536.32 feet; thence bearing South 00 degrees 00
  minutes 00 seconds East, a distance of 561.40 feet; thence bearing South 66
  degrees 18 minutes 17 seconds West, a distance of 283.07 feet; thence 26.27
  feet along a curve to the right, whose radius is 78.51 feet, and whose chord
  bears South 78 degrees 36 minutes 13 seconds West, a distance of 26.15 feet;
  thence bearing South 90 degrees 00 minutes 00 seconds West, a distance of
  171.20 feet; thence bearing North 45 degrees 00 minutes 00 seconds 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  West,
  a distance of 22.63 feet; thence bearing South 90 degrees 00 minutes 00
  seconds West, a distance of 276.38 feet; thence bearing South 00 degrees 00
  minutes 00 seconds West, a distance of 261.76 feet to the Northeasterly line
  of the property deeded to Central Illinois Light Company as described in
  Volume 799, page 250, Fulton County Recorder’s Office; thence along said
  Northeasterly line 1028.87 feet along a curve to the left, whose radius is
  1532.39 feet, and whose chord bears North 51 degrees 32 minutes 46 seconds
  West, a distance of 1009.66 feet to the West line of said Southwest Quarter;
  thence along said West line bearing North 00 degrees 37 minutes 33 seconds
  East, a distance of 272.92 feet to the Point of Beginning.

   

  Parcel
  2:

  Part of the Southwest Quarter of Section 13, Township 6 North,
  Range 4 East of the 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  Fourth
  Principal Meridian, Fulton County, Illinois, more particularly described
  as follows, and bearings are for descriptive purposes only:

   

  Commencing
  at the Northwest corner of the Southwest Quarter of Section 13, thence
  along the West line of said Southwest Quarter bearing South 00 degrees 37
  minutes 33 seconds West, a distance of 485.76 feet to an iron rod on the
  southerly line of property deeded to Central Illinois Light Company, as
  recorded in Volume 799 on Page 250 in the Fulton County Recorder’s
  Office, the Point of Beginning of the parcel to be described:

   

  From
  said Point of Beginning, thence along said southerly line 1019.98 feet along
  a curve to the right, whose radius is 1332.39 feet and whose chord bears
  South 45 degrees 55 minutes 50 seconds East, a distance of 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  995.25
  feet to an iron rod; thence continuing along the said southerly line bearing
  South 24 degrees 00 minutes 00 seconds East, a distance of 620.20 feet to an
  iron rod; thence bearing North 53 degrees 25 minutes 32 seconds West, a
  distance of 1211.84 feet to an iron rod on said West line of the Southwest
  Quarter; thence bearing North 00 degrees 37 minutes 33 seconds East a
  distance of 536.74 feet to the Point of Beginning.

   

  Parcel
  3:

  Easement for ingress, egress and access to utilities across the property of
  Freeman United Mining Co., a Delaware corporation, in the Southeast Quarter
  of Section 14 and the Southwest Quarter of Section 13, Section 24,
  Section 25 and the North 1/2 of Section 36, all in Buckheart
  Township, Township 6 North, Range 4 East in Fulton County, Illinois as 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  established
  in Deed recorded April 21, 2006 as Document No. 0604144.

   

  Parcel
  4:

  Easement for sewer purposes for the benefit of the insured across the
  property of Freeman United Mining Co., a Delaware corporation, recorded June 25,
  2002 as Document No. 02-21724.

   

  Parcel
  5:

  The South Half of the Northwest Quarter of Section 13, Township 6 North,
  Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois;

   

  And

   

  A
  part of the South Half of Section 13 and a part of the North Half of
  Section 24, Township 6 North, Range 4 East of the Fourth Principal
  Meridian, Fulton County, Illinois, more particularly described as
  follows and bearings refer to the Cilco Duck Creek Boundary 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  Map
  recorded in Slide 15, Fulton County Recorder’s Office:

   

  Beginning
  at the Center of said Section 13 as shown on said Cilco Duck Creek
  Boundary Map; thence along the boundary line of Duck Creek Station as shown
  on said Cilco Duck Creek Boundary Map for the next 14 courses bearing South
  00 degrees 31 minutes 30 seconds West, a distance of 1337.06 feet; thence
  bearing South 88 degrees 38 minutes 05 seconds East, a distance of 1239.72
  feet; thence bearing South 00 degrees 31 minutes 30 seconds West, a distance
  of 1270.00 feet; thence bearing North 89 degrees 03 minutes 17 seconds East,
  a distance of 1185.98 feet; thence bearing South 00 degrees 47 minutes 10
  seconds West, a distance of 1298.23 feet; thence bearing North 90 degrees 00
  minutes 00 seconds West, a distance of 565.43 feet; thence 558.11 feet along
  a curve to the right,

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  whose
  radius is 1332.39 feet and whose chord bears North 78 degrees 00 minutes 00
  seconds West, a chord length of 554.04 feet; thence bearing North 66 degrees
  00 minutes 00 seconds West, a distance of 477.55 feet; thence 427.93 feet
  along a curve to the left, whose radius is 1532.39 feet and whose chord bears
  North 74 degrees 00 minutes 00 seconds West, a chord length of 426.54 feet;
  thence bearing North 82 degrees 00 minutes 00 seconds West, a distance of
  460.26 feet; thence 1348.77 feet along a curve to the right, whose radius is
  1332.39 feet and whose chord bears North 53 degrees 00 minutes 00 seconds
  West, a chord length of 1291.92 feet; thence bearing North 24 degrees 00
  minutes 00 seconds West, a distance of 1649.32 feet; thence 1251.17 feet
  along a curve to the left, whose radius is 1532.39 feet and whose chord bears
  North 47 degrees 23 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  minutes
  25 seconds West, a chord length of 1216.70 feet to the West line of said
  Section 13; thence along said West line bearing North 00 degrees 37
  minutes 33 seconds East, a distance of 272.92 feet to the West Quarter corner
  of said Section 13; thence leaving said boundary line bearing North 89
  degrees 03 minutes 25 seconds East, a distance of 2621.39 feet to the Point
  of Beginning.

   

  Excepting
  Therefrom:

   

  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois, more
  particularly described as follows and bearings refer to Cilco Duck Creek
  Boundary Map, recorded in Slide 15, Fulton County Recorder’s Office:

   

  Beginning
  at the Northwest corner of said Southwest Quarter of Section

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  13;
  thence along the north line of said Southwest Quarter bearing North 89
  degrees 03 minutes 25 seconds East, a distance of 1536.32 feet; thence
  bearing South 00 degrees 00 minutes 00 seconds East, a distance of 561.40
  feet; thence bearing South 66 degrees 18 minutes 17 seconds West, a distance
  of 283.07 feet; thence 26.27 feet along a curve to the right, whose radius is
  78.51 feet, and whose chord bears South 78 degrees 36 minutes 13 seconds
  West, a distance of 26.15 feet; thence bearing South 90 degrees 00 minutes 00
  seconds West, a distance of 171.20 feet; thence bearing North 45 degrees 00
  minutes 00 seconds West, a distance of 22.63 feet; thence bearing South 90
  degrees 00 minutes 00 seconds West, a distance of 276.38 feet; thence bearing
  South 00 degrees 00 minutes 00 seconds West, a distance of 261.76 feet to the
  northeasterly line of the property deeded 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  to
  Central Illinois Light Company as described in Volume 799, page 250,
  Fulton County Recorder’s Office; thence along said northeasterly line 1028.87
  feet along a curve to the left, whose radius is 1532.39 feet, and whose chord
  bears North 51 degrees 32 minutes 46 seconds West, a distance of 1009.66 feet
  to the West line of said Southwest Quarter; thence along said West line
  bearing North 00 degrees 37 minutes 33 seconds East, as distance of 272.92 feet
  to the Point of Beginning.

   

  Further
  Excepting Therefrom:

   

  Part of
  the Southwest Quarter of Section 13, Township 6 North, Range 4 East of
  the Fourth Principal Meridian, Fulton County, Illinois, more
  particularly described as follows, and bearings are for descriptive purposes
  only:

   

  Commencing
  at the

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  Northwest
  corner of the Southwest Quarter of Section 13, thence along the West
  line of said Southwest Quarter bearing South 00 degrees 37 minutes 33 seconds
  West, a distance of 485.76 feet to an iron rod on the southerly line of
  property deeded to Central Illinois Light Company, as recorded in Volume 799
  on Page 250 in the Fulton County Recorder’s Office, the Point of
  Beginning of the parcel to be described:

   

  From
  said Point of Beginning, thence along said southerly line 1019.98 feet along
  a curve to the right, whose radius is 1332.39 feet and whose chord bears
  South 45 degrees 55 minutes 50 seconds East, a distance of 995.25 feet to an
  iron rod; thence continuing along the said southerly line bearing South 24
  degrees 00 minutes 00 seconds East, a distance of 620.20 feet to an iron rod;
  thence bearing North 53 degrees 25

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  minutes
  32 seconds West, a distance of 1211.84 feet to an iron rod on said West line
  of the Southwest Quarter; thence bearing North 00 degrees 37 minutes 33
  seconds East a distance of 536.74 feet to the Point of Beginning.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Further
  Excepting Therefrom:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois, more
  particularly described as follows and bearings refer to Cilco Duck Creek
  Boundary Map, recorded in Slide 15, Fulton County Recorder’s Office:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Commencing
  at the Northwest corner of said Southwest Quarter of Section 13; thence
  along the north line of said Southwest Quarter bearing North 89 degrees 03
  minutes 25 seconds East, a distance of 1536.32 feet to the Point of Beginning
  of the 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  parcel
  to be described:

   

  From
  said Point of Beginning; thence continuing along said North line bearing
  North 89 degrees 03 minutes 25 seconds East, a distance of 404.52 feet;
  thence bearing South 00 degrees 00 minutes 00 seconds West, a distance of
  951.92 feet to an iron rod; thence bearing South 75 degrees 30 minutes 29
  seconds West, a distance of 638.14 feet to an iron rod; thence bearing North
  32 degrees 26 minutes 26 seconds West, a distance of 374.59 feet to an iron
  rod; thence bearing South 90 degrees 00 minutes 00 seconds West, a distance
  of 334.11 feet; thence bearing North 00 degrees 00 minutes 00 seconds East, a
  distance of 124.49 feet; thence bearing North 90 degrees 00 minutes 00
  seconds East, a distance of 276.38 feet; thence bearing South 45 degrees 00
  minutes 00 seconds East, a distance of 22.63 feet; thence 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  bearing
  North 90 degrees 00 minutes 00 seconds East, a distance of 171.20 feet;
  thence 26.77 feet along a curve to the left, whose radius is 78.51 feet and
  whose chord bears North 78 degrees 36 minutes 13 seconds East, a distance of
  26.15 feet; thence bearing North 66 degrees 18 minutes 17 seconds East, a
  distance of 283.07 feet; thence bearing North 00 degrees 00 minutes 00
  seconds West, a distance of 561.40 feet to the Point of Beginning.

   

  Further
  Excepting Therefrom:

   

  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois more
  particularly described as follows:

   

  Commencing
  at the 

  Northwest Corner of said Southwest Quarter, thence North 89°-03’
  -25” East (bearings 

   

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  assumed
  for description purposes only) along the north line of said Southwest Quarter
  1940.84 feet; thence South 0°-00’-00” West 951.92 feet to the Point of
  Beginning of the Parcel 2-A to be described:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  From
  the Point of Beginning, thence continuing South 0°-00’-00” West 38.69 feet;
  thence South 75°-30’-29” West 616.32 feet; thence North 32°-26’-26” West
  39.38 feet; thence North 75°-30’-29” East 638.14 feet to the Point of
  Beginning.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  And

   

  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois more
  particularly described as follows:

   

  Commencing
  at the Northwest Corner of said Southwest Quarter, thence North 89°-03’-25”

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  East
  (bearings assumed for description purposes only) along the north line of said
  Southwest Quarter 1940.84 feet; thence South 0°-00’-00” West 951.92 feet;
  thence South 75°-30’-29” West 638.14 feet; thence North 32°-26’-26” West
  252.21 feet to the Point of Beginning of the Parcel 2-B to be described:

   

  From
  the Point of Beginning, thence North 90°-00’-00” West 399.75 feet; thence
  North 0°-00’-00” West 103.28 feet; thence South 90°-00’-00” East 334.11 feet;
  thence South 32°-26’-26” East 122.38 feet to the Point of Beginning.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Premises subject to the Lease Agreement dated
  August 11, 2004 between Amerenenergy Resources Generating Company, as
  lessor, and Central 

   

  	
   

  	
  Leased

  

 

 

	
   

  	
   

  	
  Illinois Energy, LLC, as lessee.

  	
   

  	
   

  

 

 

SCHEDULE 4.15(h)

 

DEPOSIT AND INVENTORY LOCATIONS

 

	
  Borrower

  	
   

  	
  Institution

  	
   

  	
  Account Type.

  	
   

  	
  Account #

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  JPMorgan
  Chase Bank, N.A.

  300 S. Riverside Place

  Chicago, IL 60606

  	
   

  	
  Depository

  	
   

  	
  304692603

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  JPMorgan
  Chase Bank, N.A.

  300 S. Riverside Place

  Chicago, IL 60606

  	
   

  	
  Savings

  	
   

  	
  844000521

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  JPMorgan
  Chase bank, N.A.

  Attn: Aventine Renewable Energy, Inc.

  PO Box 88951

  131 S. Dearborn, 6th Floor

  Chicago, IL 60603

  	
   

  	
  Lockbox

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

  301 SW Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Concentration
  Account

  	
   

  	
  4613273683

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

   

  301 SW
  Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Checking

  	
   

  	
  4613273712

  

 

 

	
  Borrower

  	
   

  	
  Institution

  	
   

  	
  Account Type.

  	
   

  	
  Account #

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

   

  301 SW
  Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Flexible
  Spending

  	
   

  	
  4613273739

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

   

  301 SW
  Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Depository
  Account

  	
   

  	
  4613273691

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

   

  301 SW
  Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Payroll
  Account

  	
   

  	
  4613273579

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

   

  301 SW
  Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Utility
  Deposit

  	
   

  	
  4613273704

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

  555 Cranbury Road

  East Brunswick, NJ

  08816-4026

  	
   

  	
  Cash
  Collateral Account

  	
   

  	
  1028065601

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

  555 Cranbury Road

  East Brunswick, NJ

  08816-4026

  	
   

  	
  Cash
  Collateral Account

  	
   

  	
  1031950855

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Bank, N.A.

  555 Cranbury Road

  East Brunswick, NJ

  08816-4026

  	
   

  	
  Blocked
  Account

  	
   

  	
  8026268503

  

 

 

	
  Borrower

  	
   

  	
  Institution

  	
   

  	
  Account Type.

  	
   

  	
  Account #

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  PNC
  Investments

  1900
  E. Ninth St.

  Cleveland,
  OH

  44114

  	
   

  	
  Investment
  Account

  	
   

  	
  VE0828778734

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Wilmington
  Trust FSB

  50 South Sixth Street, Suite 1290

  Minneapolis, MN 55402

  	
   

  	
  Indenture
  Collateral Account

  	
   

  	
  095774-001

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Prudential
  Bache Commodities, LLC

  Global Derivatives Group

  One New York Plaza, 13th Floor

  New York, NY 10292

  	
   

  	
  Commodities
  Account

  	
   

  	
  BTB-950791

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nebraska
  Energy

  	
   

  	
  Heritage
  Bank

  1101 12th Street

  PO Box 329

  Aurora, NE 68818

  	
   

  	
  Payroll
  Account

  	
   

  	
  314487

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nebraska Energy

  	
   

  	
  PNC
  Bank, N.A.

  301 SW Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Checking

  	
   

  	
  4613273907

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Mt Vernon

  	
   

  	
  PNC
  Bank, N.A.

  301 SW Adams St Loc: 50-CP0217

  Peoria, IL 61602-1500

  	
   

  	
  Payroll
  Account

  	
   

  	
  4610723589

  

 

 

SCHEDULE 4.19

 

REAL PROPERTY

 

	
  Borrower

  	
   

  	
  Property Address

  	
   

  	
  Owned/Leased

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine Renewable Inc.

  	
   

  	
  1300 S. Second Street

  Pekin, Illinois 61554

  	
   

  	
  Owned

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine Renewable Inc.

  	
   

  	
  120 N. Parkway Drive

  Pekin, Illinois 61554

  	
   

  	
  Leased

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nebraska Energy

  	
   

  	
  1205 S. “O” Road

  Aurora, Nebraska 68818

  	
   

  	
  Owned

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  2103 Harvest Drive

  Aurora, Nebraska 68818

  	
   

  	
  Owned

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine Renewable Mt Vernon

  	
   

  	
  7201 Port Road

  Mt. Vernon, Indiana 47620

  	
   

  	
  Leased

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Parcel
  1:

  A part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois, more
  particularly described as follows and bearings refer to Cilco Duck Creek
  boundary map, recorded in Slide 15, Fulton County, Recorder’s Office:

   

  Beginning at the Northwest corner of said
  Southwest Quarter of Section 13; thence along the North line of said
  Southwest Quarter North 89 degrees 03 minutes 25 seconds East, a distance of
  1536.32 feet; thence bearing South 00 degrees 00 minutes 00 seconds East, a
  distance of 561.40 feet; thence bearing South 66 degrees 18 minutes 17
  seconds West, a distance of 283.07 feet; thence 26.27 feet along a curve to
  the 

  	
   

  	
  Owned

  

 

 

	
   

  	
   

  	
  right,
  whose radius is 78.51 feet, and whose chord bears South 78 degrees 36 minutes
  13 seconds West, a distance of 26.15 feet; thence bearing South 90 degrees 00
  minutes 00 seconds West, a distance of 171.20 feet; thence bearing North 45
  degrees 00 minutes 00 seconds West, a distance of 22.63 feet; thence bearing
  South 90 degrees 00 minutes 00 seconds West, a distance of 276.38 feet;
  thence bearing South 00 degrees 00 minutes 00 seconds West, a distance of
  261.76 feet to the Northeasterly line of the property deeded to Central
  Illinois Light Company as described in Volume 799, page 250, Fulton
  County Recorder’s Office; thence along said Northeasterly line 1028.87 feet
  along a curve to the left, whose radius is 1532.39 feet, and whose chord
  bears North 51 degrees 32 minutes 46 seconds West, a distance of 1009.66 feet
  to the West line of said Southwest Quarter; thence along said West line
  bearing North 00 degrees 37 minutes 33 seconds East, a distance of 272.92
  feet to the Point of Beginning.

   

  Parcel
  2:

  Part of the Southwest Quarter of Section 13, Township 6 North,
  Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois,
  more particularly described as follows, and bearings are for descriptive
  purposes only:

   

  Commencing
  at the Northwest 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  corner
  of the Southwest Quarter of Section 13, thence along the West line of
  said Southwest Quarter bearing South 00 degrees 37 minutes 33 seconds West, a
  distance of 485.76 feet to an iron rod on the southerly line of property
  deeded to Central Illinois Light Company, as recorded in Volume 799 on Page 250
  in the Fulton County Recorder’s Office, the Point of Beginning of the parcel
  to be described:

   

  From
  said Point of Beginning, thence along said southerly line 1019.98 feet along
  a curve to the right, whose radius is 1332.39 feet and whose chord bears
  South 45 degrees 55 minutes 50 seconds East, a distance of 995.25 feet to an
  iron rod; thence continuing along the said southerly line bearing South 24
  degrees 00 minutes 00 seconds East, a distance of 620.20 feet to an iron rod;
  thence bearing North 53 degrees 25 minutes 32 seconds West, a distance of
  1211.84 feet to an iron rod on said West line of the Southwest Quarter;
  thence bearing North 00 degrees 37 minutes 33 seconds East a distance of
  536.74 feet to the Point of Beginning.

   

  Parcel
  3:

  Easement for ingress, egress and access to utilities across the property of
  Freeman United Mining Co., a Delaware corporation, in the Southeast Quarter
  of Section 14 and the Southwest Quarter of Section 13, Section 24,
  Section 25 and the 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  North
  1/2 of Section 36, all in Buckheart Township, Township 6 North, Range 4
  East in Fulton County, Illinois as established in Deed recorded April 21,
  2006 as Document No. 0604144.

   

  Parcel
  4:

  Easement
  for sewer purposes for the benefit of the insured across the property of
  Freeman United Mining Co., a Delaware corporation, recorded June 25,
  2002 as Document No. 02-21724.

   

  Parcel
  5:

  The
  South Half of the Northwest Quarter of Section 13, Township 6 North,
  Range 4 East of the Fourth Principal Meridian, Fulton County, Illinois;

   

  And

   

  A
  part of the South Half of Section 13 and a part of the North Half of
  Section 24, Township 6 North, Range 4 East of the Fourth Principal
  Meridian, Fulton County, Illinois, more particularly described as
  follows and bearings refer to the Cilco Duck Creek Boundary Map recorded in
  Slide 15, Fulton County Recorder’s Office:

   

  Beginning
  at the Center of said Section 13 as shown on said Cilco Duck Creek
  Boundary Map; thence along the boundary line of Duck Creek Station as shown
  on said Cilco Duck Creek Boundary Map for the next 14 courses bearing South 00
  degrees 31 minutes 30 seconds

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  West,
  a distance of 1337.06 feet; thence bearing South 88 degrees 38 minutes 05
  seconds East, a distance of 1239.72 feet; thence bearing South 00 degrees 31
  minutes 30 seconds West, a distance of 1270.00 feet; thence bearing North 89
  degrees 03 minutes 17 seconds East, a distance of 1185.98 feet; thence
  bearing South 00 degrees 47 minutes 10 seconds West, a distance of 1298.23
  feet; thence bearing North 90 degrees 00 minutes 00 seconds West, a distance
  of 565.43 feet; thence 558.11 feet along a curve to the right, whose radius
  is 1332.39 feet and whose chord bears North 78 degrees 00 minutes 00 seconds
  West, a chord length of 554.04 feet; thence bearing North 66 degrees 00
  minutes 00 seconds West, a distance of 477.55 feet; thence 427.93 feet along
  a curve to the left, whose radius is 1532.39 feet and whose chord bears North
  74 degrees 00 minutes 00 seconds West, a chord length of 426.54 feet; thence
  bearing North 82 degrees 00 minutes 00 seconds West, a distance of 460.26
  feet; thence 1348.77 feet along a curve to the right, whose radius is 1332.39
  feet and whose chord bears North 53 degrees 00 minutes 00 seconds West, a
  chord length of 1291.92 feet; thence bearing North 24 degrees 00 minutes 00
  seconds West, a distance of 1649.32 feet; thence 1251.17 feet along a curve
  to the left, whose radius is 1532.39 feet and whose chord bears North 47
  degrees 23 minutes 25 seconds

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  West,
  a chord length of 1216.70 feet to the West line of said Section 13; thence
  along said West line bearing North 00 degrees 37 minutes 33 seconds East, a
  distance of 272.92 feet to the West Quarter corner of said Section 13;
  thence leaving said boundary line bearing North 89 degrees 03 minutes 25
  seconds East, a distance of 2621.39 feet to the Point of Beginning.

   

  Excepting
  Therefrom:

   

  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois, more
  particularly described as follows and bearings refer to Cilco Duck Creek
  Boundary Map, recorded in Slide 15, Fulton County Recorder’s Office:

   

  Beginning
  at the Northwest corner of said Southwest Quarter of Section 13; thence along
  the north line of said Southwest Quarter bearing North 89 degrees 03 minutes
  25 seconds East, a distance of 1536.32 feet; thence bearing South 00 degrees
  00 minutes 00 seconds East, a distance of 561.40 feet; thence bearing South
  66 degrees 18 minutes 17 seconds West, a distance of 283.07 feet; thence
  26.27 feet along a curve to the right, whose radius is 78.51 feet, and whose
  chord bears South 78 degrees 36 minutes 13 seconds West, a distance of 26.15
  feet; thence bearing South 90 degrees 00 minutes 00 seconds West, a 

   

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  distance
  of 171.20 feet; thence bearing North 45 degrees 00 minutes 00 seconds West, a
  distance of 22.63 feet; thence bearing South 90 degrees 00 minutes 00 seconds
  West, a distance of 276.38 feet; thence bearing South 00 degrees 00 minutes
  00 seconds West, a distance of 261.76 feet to the northeasterly line of the
  property deeded to Central Illinois Light Company as described in Volume 799,
  page 250, Fulton County Recorder’s Office; thence along said
  northeasterly line 1028.87 feet along a curve to the left, whose radius is
  1532.39 feet, and whose chord bears North 51 degrees 32 minutes 46 seconds
  West, a distance of 1009.66 feet to the West line of said Southwest Quarter;
  thence along said West line bearing North 00 degrees 37 minutes 33 seconds
  East, as distance of 272.92 feet to the Point of Beginning.

   

  Further
  Excepting Therefrom:

   

  Part of
  the Southwest Quarter of Section 13, Township 6 North, Range 4 East of
  the Fourth Principal Meridian, Fulton County, Illinois, more
  particularly described as follows, and bearings are for descriptive purposes
  only:

   

  Commencing
  at the Northwest corner of the Southwest Quarter of Section 13, thence
  along the West line of said Southwest Quarter bearing South 00 degrees 37
  minutes 33 seconds 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  West,
  a distance of 485.76 feet to an iron rod on the southerly line of property
  deeded to Central Illinois Light Company, as recorded in Volume 799 on Page 250
  in the Fulton County Recorder’s Office, the Point of Beginning of the parcel
  to be described:

   

  From
  said Point of Beginning, thence along said southerly line 1019.98 feet along
  a curve to the right, whose radius is 1332.39 feet and whose chord bears
  South 45 degrees 55 minutes 50 seconds East, a distance of 995.25 feet to an
  iron rod; thence continuing along the said southerly line bearing South 24
  degrees 00 minutes 00 seconds East, a distance of 620.20 feet to an iron rod;
  thence bearing North 53 degrees 25 minutes 32 seconds West, a distance of
  1211.84 feet to an iron rod on said West line of the Southwest Quarter; thence
  bearing North 00 degrees 37 minutes 33 seconds East a distance of 536.74 feet
  to the Point of Beginning.

   

  Further
  Excepting Therefrom:

   

  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois, more
  particularly described as follows and bearings refer to Cilco Duck Creek
  Boundary Map, recorded in Slide 15, Fulton County Recorder’s Office:

   

  Commencing
  at the Northwest 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  corner
  of said Southwest Quarter of Section 13; thence along the north line of
  said Southwest Quarter bearing North 89 degrees 03 minutes 25 seconds East, a
  distance of 1536.32 feet to the Point of Beginning of the parcel to be
  described:

   

  From
  said Point of Beginning; thence continuing along said North line bearing
  North 89 degrees 03 minutes 25 seconds East, a distance of 404.52 feet;
  thence bearing South 00 degrees 00 minutes 00 seconds West, a distance of
  951.92 feet to an iron rod; thence bearing South 75 degrees 30 minutes 29
  seconds West, a distance of 638.14 feet to an iron rod; thence bearing North
  32 degrees 26 minutes 26 seconds West, a distance of 374.59 feet to an iron
  rod; thence bearing South 90 degrees 00 minutes 00 seconds West, a distance
  of 334.11 feet; thence bearing North 00 degrees 00 minutes 00 seconds East, a
  distance of 124.49 feet; thence bearing North 90 degrees 00 minutes 00
  seconds East, a distance of 276.38 feet; thence bearing South 45 degrees 00
  minutes 00 seconds East, a distance of 22.63 feet; thence bearing North 90 degrees
  00 minutes 00 seconds East, a distance of 171.20 feet; thence 26.77 feet
  along a curve to the left, whose radius is 78.51 feet and whose chord bears
  North 78 degrees 36 minutes 13 seconds East, a distance of 26.15 feet; thence
  bearing North 66 degrees 18 minutes 17 seconds East, a 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  distance
  of 283.07 feet; thence bearing North 00 degrees 00 minutes 00 seconds West, a
  distance of 561.40 feet to the Point of Beginning.

   

  Further
  Excepting Therefrom:

   

  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois more
  particularly described as follows:

   

  Commencing
  at the Northwest Corner of said Southwest Quarter, thence North 89°-03’ -25”
  East (bearings assumed for description purposes only) along the north line of
  said Southwest Quarter 1940.84 feet; thence South 0°-00’-00” West 951.92 feet
  to the Point of Beginning of the Parcel 2-A to be described:

   

  From
  the Point of Beginning, thence continuing South 0°-00’-00” West 38.69 feet;
  thence South 75°-30’-29” West 616.32 feet; thence North 32°-26’-26” West
  39.38 feet; thence North 75°-30’-29” East 638.14 feet to the Point of
  Beginning.

   

  And

   

  A
  part of the Southwest Quarter of Section 13, Township 6 North, Range 4
  East of the Fourth Principal Meridian, Fulton County, Illinois more
  particularly described as follows:

   

  Commencing
  at the Northwest Corner of said Southwest 

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  Quarter,
  thence North 89°-03’-25” East (bearings assumed for description purposes
  only) along the north line of said Southwest Quarter 1940.84 feet; thence
  South 0°-00’-00” West 951.92 feet; thence South 75°-30’-29” West 638.14 feet;
  thence North 32°-26’-26” West 252.21 feet to the Point of Beginning of the
  Parcel 2-B to be described:

   

  From
  the Point of Beginning, thence North 90°-00’-00” West 399.75 feet; thence
  North 0°-00’-00” West 103.28 feet; thence South 90°-00’-00” East 334.11 feet;
  thence South 32°-26’-26” East 122.38 feet to the Point of Beginning.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Premises subject to the Lease Agreement dated
  August 11, 2004 between Amerenenergy Resources Generating Company, as
  lessor, and Central Illinois Energy, LLC, as lessee.

  	
   

  	
  Leased

  

 

 

SCHEDULE 5.1

 

CONSENTS

 

None
required.

 

 

SCHEDULE 5.2(a)

 

STATES OF QUALIFICATION AND GOOD STANDING

 

	
  Borrower

  	
   

  	
  State of Formation

  
	
  Holdings

  	
   

  	
  Delaware

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Delaware

  
	
  Aventine
  Renewable Aurora 

  	
   

  	
  Delaware

  
	
  Aventine
  Renewable Mt Vernon

  	
   

  	
  Delaware

  
	
  Aventine
  Power

  	
   

  	
  Delaware

  
	
  Nebraska Energy

  	
   

  	
  Kansas

  

 

	
  Borrower

  	
   

  	
  State of Qualification

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Alabama

  	
  Montana

  
	
   

  	
   

  	
  Arkansas

  	
  Nebraska

  
	
   

  	
   

  	
  California

  	
  Nevada

  
	
   

  	
   

  	
  Colorado

  	
  New Jersey

  
	
   

  	
   

  	
  Connecticut

  	
  New York

  
	
   

  	
   

  	
  Florida

  	
  North Carolina

  
	
   

  	
   

  	
  Hawaii

  	
  North Dakota

  
	
   

  	
   

  	
  Illinois

  	
  Ohio

  
	
   

  	
   

  	
  Indiana

  	
  Oklahoma

  
	
   

  	
   

  	
  Iowa

  	
  Oregon

  
	
   

  	
   

  	
  Kansas

  	
  Pennsylvania

  
	
   

  	
   

  	
  Kentucky

  	
  South Dakota

  
	
   

  	
   

  	
  Louisiana

  	
  Tennessee

  
	
   

  	
   

  	
  Michigan

  	
  Texas

  
	
   

  	
   

  	
  Minnesota

  	
  Virginia

  
	
   

  	
   

  	
  Mississippi

  	
  Washington

  
	
   

  	
   

  	
  Missouri

  	
  Wisconsin

  
	
   

  	
   

  	
   

  	
   

  
	
  Nebraska Energy

  	
   

  	
  Nebraska

  	
   

  
	
  Aventine
  Renewable Aurora 

  	
   

  	
  Nebraska

  	
   

  
	
  Aventine
  Renewable Mt Vernon

  	
   

  	
  Indiana

  	
   

  
	
  Aventine
  Power

  	
   

  	
  Illinois

  	
   

  

 

 

SCHEDULE 5.2(b)

 

SUBSIDIARIES

 

	
  Borrower

  	
   

  	
  Subsidiary

  
	
  Holdings

  	
   

  	
  Aventine
  Renewable Energy, Inc.

  
	
   

  	
   

  	
  Aventine
  Renewable Energy — Aurora West, LLC

  
	
   

  	
   

  	
  Aventine
  Renewable Energy — Mt Vernon, LLC

  
	
   

  	
   

  	
  Aventine
  Power, LLC

  
	
   

  	
   

  	
  Nebraska Energy, L.L.C.

  

 

 

SCHEDULE 5.4

 

FEDERAL TAX IDENTIFICATION NUMBER

 

	
  Borrower

  	
   

  	
  FEIN

  
	
  Holdings

  	
   

  	
  05-0569368

  
	
  Aventine Energy Inc.

  	
   

  	
  75-3108352

  
	
  Aventine Renewable Aurora

  	
   

  	
  20-5359285

  
	
  Aventine Renewable Mt Vernon

  	
   

  	
  20-5838144

  
	
  Aventine Power

  	
   

  	
  20-5359343

  
	
  Nebraska Energy

  	
   

  	
  47-0771872

  

 

 

SCHEDULE 5.6

 

PRIOR NAMES

 

Aventine Renewable Energy — Mt Vernon, LLC has also
been known as Aventine Renewable Energy — Mt. Vernon, LLC.

 

On October 13, 2008, the Aventine Renewable
Energy Holdings, Inc. (“Holdings”) completed its purchase of the 21.586%
of Nebraska Energy, L.L.C. (“NELLC”) that it did not already own from Nebraska
Energy Cooperative, Inc.  Holdings
then assigned its ownership interest in NELLC to Aventine Renewable Energy, Inc.
(“AREI”).  As part of the emergence from
bankruptcy, Holdings acquired all interests of Aventine Renewable Energy, LLC (“LLC”)
pursuant to a merger agreement dated March 15, 2010.  NELLC’s current ownership is 78.414% by
Holdings and 21.586% by AREI.

 

On
August 6, 2010 Aventine Renewable Energy Holdings, Inc. purchased
substantially all of the assets of New CIE Energy Opco, LLC d/b/a/ Riverland
Biofuels which comprise its ethanol production facility located in Canton, IL.

 

 

SCHEDULE 5.7

 

ENVIRONMENTAL

 

The following disclosures relate to property located
at 1300 S. Second Street, Pekin, Illinois.

 

1.             The
facility has a long history of industrial use, including corn processing and,
since 1981, ethanol production. The facility historically and currently gets
most of its energy from on-site coal fired-boilers. As such, the facility has
had historical releases of Hazardous Substances that would have occurred with
such operations and has resulted in both soil and groundwater contamination.
During Borrowers’ ownership or operation of the facility, there has been no
federal or state investigation or notice of violation regarding such historical
releases or any Hazardous Discharges.

 

2.             We
are aware of underground storage tanks which were installed by, and are owned,
operated and the responsibility of, a tenant on the Real Property.
Specifically, a 1000-gallon fiberglass waste oil underground storage tank
(currently empty) exists on the property occupied and leased by the tenant. A 1000
gallon fiberglass gasoline underground storage tank also is present on site. A
10,000 gallon #2 diesel fiberglass underground storage tank exists at this
location as well as a 20,000 gallon #2 diesel fuel underground tank. The 20,000
gallon tank is abandoned in place.

 

3.             The
facility has cycled out its polychlorinated biphenyl (PCB) transformers which
were historically in use or on the Real Property and currently no electrical
transformers on the Real Property which would constitute PCB transformers or other
equipment under the federal Toxic Substance Control Act regulations.

 

4.  On February 10,
2010, Aventine Renewable Energy, Inc. (Borrower) received a Notice of
Violation from the Illinois Environmental Protection Agency citing: 1) Failure
to obtain a certified wastewater treatment operator for the dry mill methanator
and the ash pond handling system; 2) lab test methods not in compliance with
approved methods (for BOD tests); and 3) effluent violations.   Borrower is in the process of responding to
this notice and contesting and/or remediating the specific alleged deficiencies
noted therein.

 

5.               The Phase I Environmental
Site Assessments by Midwest Environmental Consulting and Remediation Services, Inc.
dated February 23, 2006 and July 27, 2004 cover only a portion of the
Canton real property and identify the possibility that portions of the real
property were used for stock piling during mining of the surrounding area.

 

6.               Transfers of some
environmental permits for the Canton facility were obtained in error in the
name of “New CIE OPCO, LLC” or “New CIE Opco, LLC, D/b/a Riverland Biofuels.”

 

7.               Related to the Canton
facility, a U.S. Environmental Protection Agency Fuel Additive Registration (40
C.F.R. Part 79) needs to be filed by Holdings.  Related to the Canton facility, Holdings will
also need to register on the Central Data Exchange under the U.S. Environmental
Protection Agency’s Renewable Fuels Program.

 

 

8.               Alleged violations of water
quality requirements in the Complaint for Injunctive and Other Relief (“Complaint”)
filed in Fulton County, Illinois Ninth Judicial Circuit Court, Docket No. 10-CH-33,
entitled “People of the State of Illinois v. New CIE Energy Opco, LLC and The
Andersons, Inc.”

 

9.               Under the terms of the
Agreed Order entered into to govern interim actions to address the violations
alleged in the Complaint, the Canton facility has approximately 2.4 million
gallons of process wastewater on site that must be treated and disposed of
pursuant to a plan approved by the Illinois Environmental Protection Agency.

 

10.         Related to the Canton
facility, under the terms of the Agreed Order entered into to govern interim
actions to address the violations alleged in the Complaint, certain actions are
required, and water quality must improve as specified in the Agreed Order
before the culvert into the large lake can be opened.  Until the culvert is opened, there is limited
storage capacity in the small lake that may not be sufficient for full
operation of the facility.  At present,
ammonia levels are at an acceptable level, but dissolved oxygen levels in the
small lake are too low to allow the culvert to be opened.

 

11.         Related to the Canton
facility, in addition to matters related to the Agreed Order, the Illinois
Environmental Protection Agency and the Illinois Attorney General’s Office are
considering whether they will require dredging and if so, where and by which
defendant they would require dredging, as part of the corrective actions to
resolve the Complaint.  Resolution of the
Complaint will also include payment for amounts assessed due to the fish kill,
as determined by the Illinois Department of Natural Resources.

 

12.         Related to the
Canton facility, Special Condition 12 of NPDES Permit No. IL0076830
required the Canton facility to prepare a Storm Water Pollution Prevention Plan
(“SWPPP”) for industrial activity within 180 days of the effective date of the
permit.  The permit’s original effective
date was April 1, 2005.  The permit
was modified on July 18, 2008. The Canton facility submitted a SWPPP on June 2,
2010 to address ongoing plant operations.

 

13.         The Canton
facility had three unpermitted stormwater discharge points, for which it
applied for coverage under the general NPDES permit for Industrial Activities
on June 1, 2010.  These discharge
points were included in the SWPPP filed with the Illinois EPA on June 2,
2010.

 

14.         The Canton
facility is required to have a Class K wastewater operator under its NPDES
permit, and has at times not had one.

 

15.         The Canton facility has
conducted inspections under its Storm Water Pollution Prevention Plan, and some
run off issues have required corrective action.

 

16.         The Canton facility has not
completed aquatic toxicity testing as required by its NPDES permit.

 

17.         On August 22, 2009, the
Canton facility had an ammonia release due to a failed pump seal that was
reported to state authorities, and the plant took action to address the leak.

 

 

18.         The application for
reissuance of the NPDES wastewater and industrial storm water permit for the
Canton facility was due on September 30, 2009.  The Canton facility applied for reissuance of
its NPDES permit on September 25, 2009. 
The Illinois EPA has verbally requested additional information, which
has not yet been provided.  The Illinois
Environmental Protection Agency may request an anti-degradation review as part
of the permit reissuance.  The Canton
facility is aware that there are Illinois Environmental Protection Agency staff
who would like to see a change in the discharge point to end direct discharges
into the lake, and that this may be pursued in the NPDES permit reissuance
proceeding.

 

19.         The Canton facility has not
conducted performance testing on its grain handling facility, because the plant
has not accepted its maximum capacity of grain. 
An application to modify the air permit for grain handling to adjust the
test date will need to be prepared and submitted to the Illinois Environmental
Protection Agency when the date for testing is planned.

 

20.         On April 3, 2009, the
Canton facility asked the U.S. Environmental Protection Agency for a change to
the Canton facility’s start date under New Source Performance Standards due to
delays in attaining normal operations. 
The U. S. Environmental Protection Agency denied the request.  Performance testing on the coal-fired boiler
has not been attempted because the plant has not attained normal operations or
maximum capacity, and is still in the process of commissioning the steam
turbine generator.

 

21.         The Canton facility asked
the Illinois Environmental Protection Agency for an air permit modification to
extend the period for emission testing of the coal boiler and various ethanol
process units and for a permit modification to deal with the issues listed
below. The Canton facility has not yet reached maximum capacity or a normal
operating state, and has experienced malfunctions and/or shutdowns when it has
attempted to conduct tests.  Performance
tests completed in these conditions will not be accepted for compliance
demonstration purposes.  The revised air
permit provides additional time for completion of the performance tests, except
those required under federal New Source Performance Standards applicable to the
Canton facility.  The Canton facility has
not applied for its air operating permit because it has not completed the
required performance testing due to not attaining normal operations at maximum
capacity.  A number of emission issues
were addressed in the permit modification proceeding as follows:

 

a)              Related to the Canton
facility, Fermentation Scrubber — The pre-2010 permit was based on the original
design which assumed the fermentation scrubber emissions would be routed a CO2
plant, and direct venting to the atmosphere would be limited to 2920 hours per
year.  The Canton facility never built a CO2 plant and direct vented 7087
hours per year at a reduced operational rate.  The revised permit reflects
the direct venting of emissions from the fermentation scrubber 8760 hours per
year.  Therefore, the tons per year limit for that unit was increased.

 

 

b)             Related to the Canton
facility, Process Scrubber — The pre-2010 permit assumed all of the emissions
exhaust from the scrubber would be routed to the coal boiler.  That design
plan was never implemented.  Therefore, the Canton facility exceeded its
tons per year limits for the process scrubber.  The revised permit
reflects increased limits based on 8760 operating hours of direct venting to
the atmosphere.

 

c)              Related to the Canton
facility, Biomethanator Flare — The pre-2010 permit assumed that the flare
would only exhaust to the atmosphere 500 hours per year.  The remaining
time the flare would be routed to the coal fired boiler.  The revised
permit reflects the flare emitting to the atmosphere 8760 hours per year.

 

d)             Related to the Canton
facility, Wet Feed Dryer — In the pre-2010 permit, the Facility did exceed the
number of hours of direct venting to the atmosphere from the wet feed dryer
(325 hours per year).  However, because of the reduced operations, the
estimated emissions were not in excess of the lb/hr and tons per year limit in
the permit.  The revised permit was changed to allow the calculation of
the direct venting emissions based on a lb/ton of wet feed dried. 
Therefore, the plant could direct vent more hours if at a reduced operating rate.

 

e)              Related to the Canton
facility, Fly Ash Baghouse — In 2009, the PM emissions from the flyash baghouse
exceeded the lb/hr and tons per year limit because the baghouse was not working
properly.  The limit for the baghouse was not changed in the revised
permit because the baghouse had been repaired.

 

22.         The Canton facility has not
performed Relative Accuracy Tests required for certification of its Continuous
Emission Monitoring Systems.

 

23.         The Canton facility
conducted performance tests on its natural gas boiler on April 28, 2009;
however, additional testing is necessary due to excess emissions of NOx. 
Based on a review of the draft results from GE Energy and discussions with the
boiler manufacturer, boiler adjustments are needed as the NOx emissions were
higher than permitted levels and the CO emissions were extremely low. 
Beth Steinhour verbally notified Chris Romaine from the Illinois EPA of the
draft test results and the plan to make adjustments to the boiler and retest,
and to not operate the natural gas boiler until repairs and tuning were
complete and additional testing conducted. 
The retesting was not conducted and the Canton facility stopped
operating the boiler.

 

24.         The Canton facility has
placed tags to identify equipment subject to Leak Detection and Repair
requirements, but has not done inspections and has not set up a compliance
system.

 

25.         The Canton facility had
excess emissions and monitoring downtime as reported in its quarterly emission
reports to the Illinois Environmental Protection Agency filed between the
fourth quarter of 2008 through the first quarter of 2010.  The Canton facility self-reported
noncompliance as described in its letters to the Illinois Environmental
Protection Agency dated February 19, 2010. 
The Canton facility exceeded its chlorine limit as 

 

 

reported in its August 2009 Discharge
Monitoring Report.  The Canton facility
did not file its Discharge Monitoring Report for December 2009.

 

26.         On July 20, 2010, the
Illinois Environmental Protection Agency noted discrepancies in the Canton
facility’s 2009 annual emission report between hourly emissions and annual
emission reported.  On July 26, 2010, the Canton facility responded
with a revised report that corrected certain hourly emissions in the
initial report and stated that annual emissions in the initial report were
accurate.  In the 2009 Annual Emissions
Report, the Canton facility had inadvertently included the calculated coal
boiler lb/hour for 100% operation.  The tons per year reported for the
boiler was accurate.  The response to the Illinois Environmental
Protection Agency revised the lb/hr number to reflect the boilers reduced
operating capacity that corresponded to the correct tonnage reported.  The
reported annual emissions were not above
100 tons per year for 2009 and this was clarified in the response.

 

 

SCHEDULE 5.8(b)

 

LITIGATION

 

1.  Related to the Canton facility, the former
owner of the facility has initiated foreclosure litigation relating to that
certain Second Mortgage, dated June 9, 2006 and filed for recording on June 18,
2007 as Document Number 0713040 in the office of the County Clerk &
Recorder for Fulton County, Illinois.

 

 

SCHEDULE 5.8(d)

 

PLANS

 

Aventine Renewable Energy, Inc. maintains the
Aventine Renewable Energy, Inc. Hourly Pension Plan for the benefit of its
unionized employees.

 

 

SCHEDULE 5.9

 

INTELLECTUAL PROPERTY

 

	
  Borrower

  	
   

  	
  Patent/Trademark

  	
   

  	
  Registration #

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Trademark
  application for “Aventine Renewable Energy and design”

  	
   

  	
  77223730

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Trademark
  for “Aventine Renewable Energy, Inc. and design”

  	
   

  	
  2,954,378

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Trademark
  for “Aventine”

  	
   

  	
  2,928,195

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Trademark
  for “Aventine and design”

  	
   

  	
  2,937,415

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Trademark
  for “Providing clean, renewable energy for the world”

  	
   

  	
  3,428,803

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Canadian
  Trademark application for “Providing clean, renewable energy for the world”

  	
   

  	
  1316265

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  U.S.
  Patent “Heat Recovery from a Biomass Heat Source”

  	
   

  	
  7,566,383

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Trademark
  for “Riverland Biofuels”

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Trademark
  for “Riverland Biofuels logo”

  	
   

  	
   

  

 

 

SCHEDULE 5.10

 

LICENSES AND PERMITS

 

None

 

 

SCHEDULE 5.14

 

LABOR DISPUTES

 

Approximately
55% of our current full-time employees are represented by a union.  The unionized employees are covered by a
collective bargaining agreement between Aventine Renewable Energy, Inc.
and the United Steelworkers International Union, Local 7-662.  Our contract with the Union is scheduled to
expire on October 31, 2010.

 

 

SCHEDULE 5.27

 

EQUITY INTERESTS

 

	
  Borrower

  	
   

  	
  Equity Holder(s)

  	
   

  	
  Ownership Interest

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Unsecured
  Claims Stock Pool

  	
   

  	
  6,840,000
  shares

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Senior
  Secured Noteholders

  	
   

  	
  1,710,000
  shares

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Holdings

  	
   

  	
  Holders of Warrants

  	
   

  	
  Up to
  5% of common stock on a fully diluted basis at an exercise price of $40.94

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Aventine
  Renewable Energy Holdings, Inc.

  	
   

  	
  1,000
  shares of common stock

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Aurora

  	
   

  	
  Aventine Renewable Energy Holdings

  	
   

  	
  100% of
  membership units

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Mt Vernon

  	
   

  	
  Aventine Renewable Energy Holdings

  	
   

  	
  100% of
  membership units

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nebraska
  Energy

  	
   

  	
  Aventine Renewable Energy Holdings

  	
   

  	
  78.414%
  of membership units

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nebraska Energy

  	
   

  	
  Aventine Renewable Energy, Inc.

  	
   

  	
  21.586%
  of membership units

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine Power

  	
   

  	
  Aventine Renewable Energy Holdings

  	
   

  	
  100% of
  membership units

  

 

 

Schedule 6.12(b)

 

Warehousing Arrangements

 

	
  Aventine Renewable Inc.

  	
   

  	
  Warehousing of Co-Product Inventory

  	
   

  	
  Bell Enterprises

  30082 Harding Road

  Deer Creek, IL 61733

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Warehousing of Personal Property

  	
   

  	
  United Facilities, Inc.

  603 N. Main Street

  East Peoria, IL 61611

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Warehousing of Personal Property

  	
   

  	
  National Rental Inc.

  706 S Second Street

  Pekin, IL 61554

  
	
  Nebraska
  Energy

  	
   

  	
  Warehousing of Personal Property

  	
   

  	
  Nebraska Storage LLC

  Unit #28

  764 S. 16th Street

  Aurora, NE 68818

  

 

Packaging Arrangements

 

	
  Aventine
  Renewable Inc.

  	
   

  	
  Re-bagging & warehousing of Co-Product
  Inventory

  	
   

  	
  Parke Warehouse

  1800 E Garfield Avenue

  Decatur, IL 62525

  

 

Terminal Services

 

	
  Aventine
  Renewable Inc.

  	
   

  	
  Terminal Services & warehousing
  of Ethanol Inventory

  	
   

  	
  Kinder Morgan

  8500 West 68th Street

  Argo, IL 60501

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Terminal Services & warehousing
  of Ethanol Inventory

  	
   

  	
  Motiva
  Enterprises, Inc.

  4127
  Winters Chapel Rd.

  Doraville,
  GA 30360

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Terminal Services & warehousing
  of Ethanol Inventory

  	
   

  	
  Buckeye Pipeline Company

  18264 N. US Highway 45

  Effingham, IL 62401

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Terminal Services & warehousing
  of Ethanol Inventory

  	
   

  	
  FC Haab

  2314 Market Street

  Philadelphia, PA 19103

  

 

 

Access Arrangements

 

	
  Aventine
  Renewable Inc.

  	
   

  	
  Information Technology Services &
  storage of data

  	
   

  	
  Bourque Data Systems

  1610 Woodstead Ct.

  The Woodlands, TX 77380

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Information Technology Services &
  storage of data

  	
   

  	
  Core Services

  123 Headquarters Plaza

  Morristown, NJ 07960

  
	
  Nebraska
  Energy

  	
   

  	
  Information Technology Services &
  storage of data

  	
   

  	
  Mainsaver

  15150 Avenue of Science

  San Diego, CA 92128Exhibit 10.24

 

AVENTINE RENEWABLE ENERGY HOLDINGS, INC.

2010 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT

 

This Restricted Stock Unit
Agreement (the “Agreement”),
effective as of the 13th day of October, 2010 (the “Date of Grant”) by
and between Aventine Renewable Energy Holdings, Inc. (the  “Company”), and Ben Borgen (the “Participant”),
evidences the grant by the Company of restricted Common Share units (the “Award”) to the
Participant on such date and the Participant’s acceptance of the Award in accordance
with the provisions of the Company’s 2010 Equity Incentive Plan (the “Plan”).  The Company and the Participant agree as
follows:

 

1.                                       Basis for Award.  This Award is made under the Plan
pursuant to Section 9 thereof for services to be rendered to the Company
by the Participant.

 

2.                                       Restricted Stock Units Awarded.

 

(a)                                  The Company
hereby awards to the Participant, in the aggregate, 40,000 restricted Common
Share units (“Restricted
Stock Units”), which shall be subject to the terms of the Plan
and this Agreement.

 

(b)                                 The Restricted
Stock Units shall be credited to a separate account maintained for the
Participant on the books of the Company (the “Account”).  The Award shall vest and settle in accordance
with Section 3 hereof.

 

3.                                       Vesting and Settlement.

 

(a)                                  The Restricted
Stock Units shall vest and become non-forfeitable with respect to (i) 13,333
Restricted Stock Units on the six month anniversary of the Date of Grant, (ii) an
additional 13,333 Restricted Stock Units on the first anniversary of the Date
of Grant, and (iii) an the remaining 13,334 Restricted Stock Units on the
second anniversary of the Date of Grant; provided, that, the
Participant is then employed by the Company. 
Except as set forth in Section 3(b), all unvested Restricted Stock
Units shall be forfeited without consideration upon the termination of the
Participant’s employment for any reason. 
The Company shall issue and deliver to the Participant one Common Share
for each vested Restricted Stock Unit (the “RSU Shares”) (and upon such settlement, the
Restricted Stock Units shall cease to be credited to the Account) on the
earlier of (x) the sixtieth (60th) day following the termination of the Participant’s
employment for any reason and (y) the date on which a Change in Control
(as defined in the Employment Agreement between the Company and the Participant
dated as of March 15, 2010 (the “Employment Agreement”)) occurs (such date,
the Settlement Date”)
and upon such settlement the Company shall enter the Participant’s name as a
shareholder of record with respect to the RSU Shares on the books of the
Company.

 

 

(b)                           Notwithstanding
the foregoing, in the event that the Participant’s employment with the Company
is terminated (i) by the Company without Cause (as defined in the
Employment Agreement), or (ii) by the Participant for Good Reason (as
defined in the Employment Agreement), the Restricted Stock Units shall
immediately vest in full and be settled in accordance with the last sentence of
Section 3(a).

 

(c)                            Change in
Control.  Upon the occurrence of a
Change in Control, the Restricted Stock Units shall immediately vest in full
and be settled in accordance with the last sentence of Section 3(a).

 

4.                                       Dividend Equivalents.  If the Company pays a cash dividend on its
outstanding Common Shares for which the Record Date (for purposes of this
Agreement, the “Record Date” is the date on which shareholders of
record are determined for purposes of paying the cash dividend on Common
Shares) occurs after the Date of Grant, the Participant shall receive a lump
sum cash payment on the Settlement Date equal to the aggregate amount of the
ordinary cash dividends paid by the Company on a single Common Share multiplied
by the number of Restricted Stock Units awarded under this Agreement that are
unvested and unpaid as of each applicable Record Date, plus interest on such
amount at the Company’s borrowing rate as in effect from time to time.  Payments pursuant to this Section 4
are subject to tax withholding.

 

5.                                       Restrictions.  The
Award granted hereunder may not be sold, pledged or otherwise transferred
(other than by will or the laws of descent and distribution or as otherwise
permitted by the Committee) and may not be subject to lien, garnishment,
attachment or other legal process.  The
Participant acknowledges and agrees that, with respect to each Restricted Stock
Unit credited to his Account, the Participant has no voting rights with respect
to the Company unless and until such Restricted Stock Unit is settled in RSU
Shares pursuant to Section 3(a) hereof.

 

6.                                       Compliance with Laws and Regulations.  The issuance and transfer of RSU Shares shall
be subject to compliance by the Company and the Participant with all applicable
requirements of securities laws and with all applicable requirements of any
stock exchange on which the Company’s Common Shares may be listed at the time
of such issuance or transfer.

 

7.                                       No Right to Continued Employment.  Nothing in this Agreement shall be deemed by
implication or otherwise to impose any limitation on any right of the Company
to terminate the Participant’s employment at any time.

 

8.                                       General Assets.  All
amounts credited to the Participant’s Account under this Agreement shall
continue for all purposes to be part of the general assets of the Company.  The Participant’s interest in the Account
shall make the Participant only a general, unsecured creditor of the Company.

 

9.                                       Rights as Shareholder.  Upon and following the Settlement Date, the
Participant shall be the record owner of the RSU Shares unless and until such
shares are sold or otherwise disposed of, and as record owner shall be entitled
to all rights of a shareholder of the 

 

2

 

Company (including voting rights). 
Prior to the Settlement Date, the Participant shall not be deemed for
any purpose to be the owner of the Common Shares underlying the Restricted
Stock Units subject to the Award, other than with respect to the Participant’s
right to receive payment pursuant to Section 4 hereof.

 

10.                                 Governing
Law.  This Agreement shall be
governed by the laws of the state of New York without regard to conflict of law
principles.

 

11.                                 Plan.  Except as otherwise provided herein, or
unless the context clearly indicates otherwise, capitalized terms herein which
are defined in the Plan have the same definitions as provided in the Plan.  The terms and provisions of the Plan are
incorporated herein by reference, and the Participant hereby acknowledges
receiving a copy of the Plan.  In the
event of a conflict or inconsistency between the terms and provisions of the
Plan and the provisions of this Agreement, this Agreement shall govern and
control.  Notwithstanding anything herein
or in the Plan to the contrary, the provisions of Section 15 of the Plan
shall not apply to the Participant.

 

12.                                 Adjustment.  In the event of any adjustment pursuant to Section 12
of the Plan that would adversely affect the value of the Award granted
hereunder or cause such Award to become subject to Section 409A of the
Code, such adjustment may only be made with the Participant’s written consent,
which consent shall not be unreasonably withheld.

 

13.                                 Tax Withholding.  Upon
settlement of the Award in accordance with Section 3(a) hereof,
the Participant shall recognize taxable income in respect of the Award and the
Company shall report such income to the appropriate taxing authorities in
respect of the Award as it determines to be necessary and appropriate.  The Participant shall be required to pay to
the Company and the shall have the right to deduct from any compensation paid
to the Participant pursuant to the Plan the amount of any required withholding
taxes prior to the issuance or delivery of any Common Shares.  The Committee may permit the Participant to
satisfy the withholding liability: (a) in cash, (b) by having the
Company withhold from the number of Common Shares otherwise issuable or
deliverable pursuant to the settlement of the Restricted Stock Unit Award a
number of shares with a Fair Market Value equal to the minimum withholding
obligation, (c) by delivering Common Shares owned by the Participant that
are Mature Shares, or (d) by a combination of any such methods.  For purposes hereof, Common Shares shall be
valued at Fair Market Value.

 

14.                                 Notice.  Every
notice or other communication relating to this Agreement shall be in writing,
and shall be mailed to or delivered to the party for whom it is intended at
such address as may from time to time be designated by it in a notice mailed or
delivered to the other party as herein provided; provided, that,
unless and until some other address be so designated, all notices or
communications by the Participant to the Company shall be mailed or delivered
to the Company at its principal executive office, and all notices or
communications by the Company to the Participant may be given to the
Participant personally or may be mailed to him/her at his/her address as
recorded in the records of the Company.

 

3

 

15.                                 Section 409A.  The terms and provisions contained in Section 15(h) of
the Employment Agreement are incorporated herein by reference.

 

16.                                 Severability.  The
invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement,
and each other provision shall be severable and enforceable to the extent
permitted by law.

 

17.                                 Entire Agreement.  This Agreement and the Plan contain the
entire agreement between the parties hereto with respect to the subject matter
contained herein and supersede all prior communications, representations and
negotiations in respect thereto.  No
change, modification or waiver of any provision of this Agreement shall be
valid unless in writing and signed by the parties hereto.

 

18.                                 Counterparts.  This
Agreement may be signed in counterparts, each of which shall be an original,
with the same effect as if the signatures thereto and hereto were upon the same
instrument.

 

 

[Signature Page follows]

 

4

 

IN WITNESS WHEREOF, the
parties hereto have signed this Agreement as of the date first set forth above.

 

	
   

  	
   

  
	
   

  	
  AVENTINE
  RENEWABLE ENERGY HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Thomas Manuel

  
	
   

  	
   

  	
  Title: Chief Executive
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PARTICIPANT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: Ben Borgen

  

 

 

[Signature Page to RSU Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}]]