Document:

AGREEMENT AMONG LENDERS

         This  Agreement is made and entered into as of the 9th day of May 2008,
by and among those  parties  whose names  appear on the  signature  pages hereof
(each a "Lender" and collectively the "Lenders").

                                    RECITALS

         The "Lenders" to be named on Exhibit A-1 which will be attached  hereto
have agreed to lend Momentum Biofuels,  Inc., a Colorado corporation ("MMBF") up
to $600,000 (the "Loans") which will be evidenced by Senior Secured  Convertible
Notes (the "Senior Notes"). The terms and conditions of the Senior Notes are set
forth in a series of Senior Notes  between MMBF and Momentum  Biofuels,  Inc., a
Texas  corporation  ("MMBF-Texas")  (MMBF  and  MMBF-Texas  are  referred  to as
"Borrower")  and the Lenders,  each bearing the dates set forth on the Signature
Pages of this Agreement.  The amounts of the note payable to each Lender are set
forth on the Signature Page.

         The purpose of this Agreement is to set forth the rights and agreements
among the Lenders, the Custodian,  and any agent appointed pursuant to paragraph
4(d) hereunder.

         NOW, THEREFORE, it is agreed:

1.  Security  Documents.  Attached  as  Exhibit B hereto is a copy of a Security
Agreement  (the  Security  Agreement  and  other  documents  that may be used to
register  the  Lenders'  security  interest in the assets that secure the Senior
Notes  (the  "Collateral"),  including  a  mortgage,  deed  of  trust,  and  any
certificates  representing  securities  to be  delivered  to perfect a pledge is
referred to herein as the "Security  Documents").  The Security Documents run in
favor of each  Lender  to the  extent of each  Lender's  interest  therein.  The
Lenders hereby appoint  Bathgate Capital Partners LLC ("BCP") as their custodian
("Custodian"),  only for the purpose of holding the original Security Documents.
Custodian will provide copies to the Lenders upon request. A Majority of Lenders
(as defined  herein) may  appoint a person or entity to act as  Custodian,  and,
upon  BCP's  delivery  of the  Security  Documents  to the  new  Custodian,  its
responsibility as Custodian shall terminate.

2. Risks of Collectibility. Each Lender will bear the risks of collectibility of
the Senior Note held by it, of the Borrower's financial  condition,  of fraud or
forgery, of the enforceability of the Security Documents, of the adequacy of the
security  for the Senior  Note,  and any other  matters  relating  to the Senior
Notes.  Each Lender  agrees that it has been  solely  responsible  for making an
independent   appraisal  and   investigation   into  the  financial   condition,
creditworthiness,  nature,  and status of the Borrower.  Each Lender confirms to
the other Lenders that it has not, in connection with his decision to enter into
the Loan  transaction,  relied on any other  Lender (i) to inquire on his behalf
into the accuracy or completeness of any information provided in connection with
the Loan (whether or not such  information is distributed to the Lenders),  (ii)
to  assess  or  keep  under  review  on  his  behalf  the  financial  condition,
creditworthiness,  nature  or status of the  Borrower,  or (iii) to advise  such
Lender as to the results of any  appraisal  or  investigation  performed  by any
other Lender.

3.  Priority of Senior Notes.  The Senior Notes shall have priority parri passu.

<PAGE>

4.  Subordination.  (a) The Borrower may issue additional debt ("Class B Notes")
to one or more  persons  ("Class B  Lenders")  and  create  additional  security
interests  in the  Collateral  to secure such Class B Notes that are equal to or
subordinate  to the  Senior  Notes  if and  only if  persons  holding  at  least
two-thirds  of all of the  outstanding  principal  amounts of the  Senior  Notes
("Majority  of the  Lenders")  agree to the  Borrower  borrowing  such funds and
creating such additional security interests. If requested by the Class B Lenders
and agreed to by the Majority of the  Lenders,  the holders of the Class B Notes
may enter  into this  Agreement  among  Lenders,  and the term  "Lenders"  shall
include the Class B Lenders,  the term "Notes"  shall include the Class B Notes,
and the term  "Majority of the Lenders" shall mean a majority in interest of the
Senior Notes and the Class B Notes.

         c. Any document reasonably requested by a Lender to evidence such equal
or  subordinate  security  position  may be  executed by an Agent of the lenders
appointed in accordance with Paragraph 5 below.  Additional  security  interests
may only secure new loans to the  Borrower.  Each Lender  hereby  appoints  such
Agent as his Attorney-in-Fact to execute such documents on his behalf.

5.  Appointment  of Agent.  (a) Upon the occurrence of one or more of the events
listed in paragraph  5(b),  Lenders shall appoint an agent  ("Agent") to perform
certain  ministerial  functions on their behalf,  including  those  specified in
paragraph 5(c), in accordance  with the terms herein.  A Majority of the Lenders
shall appoint the Agent in the manner set forth in paragraph 5(d). Any Lender or
other  person  may be  appointed  as Agent,  and there may be more than a single
person appointed to act as Agent.  The Lenders may pay such  compensation to the
Agent as the Lenders  determine  appropriate or necessary in the  circumstances,
and in such event, the amount of compensation paid to the Agent will be added to
the principal amount of the Borrower's indebtedness.

         (b)      The following are the circumstances under which an Agent will
be appointed:

                  (i)      The Conversion or full repayment of the Notes.
                  (ii)     An Event of Default, as defined in the Notes and/or
                           Security Documents.
                  (iii)    The decision of a Majority of the Lenders whether or
                           not obtained at a meeting of Lenders.

         (c)      Agent shall act for the Lenders in the following respects:

                  (i)      Upon  conversion  or  full  repayment  of  all of the
                           Notes,  Agent will  execute on behalf of the  Lenders
                           any document  required or requested to effectuate the
                           release of the security interest.

                  (ii)     On behalf of the  Lenders,  Agent  will  enforce  the
                           Notes and the  Security  Documents  and  exercise all
                           rights and  remedies  that the Lenders have under the
                           Security  Documents,  as  described in Section 14 and
                           other provisions of this Agreement.

                  (iii) On behalf of the Lenders, Agent may obtain all rights to
                        the Collateral from the Custodian.

                  (iv) At the  request of a Class B Lender,  Agent will  execute
                       such documents described in Paragraph 4(b).

<PAGE>

         (d) The Agent shall be  appointed by vote of a Majority of the Lenders.
The vote may be taken (i) in a meeting  held for such purpose upon five (5) days
written  notice to the  Lenders;  or (ii) by written  agreement  in writing of a
Majority of the Lenders.  Attendance at the meeting may be in person,  by proxy,
or by telephone. Agent will signify his acceptance of such appointment,  and his
agreement  with  terms  of this  agreement  that  pertain  to him as  Agent,  by
executing a copy of this  Agreement.  The terms of this agreement  pertaining to
such Agent's rights,  duties, and responsibilities  hereunder shall be effective
upon the Agent's signature.  If the Agent is elected pursuant to (ii) above, the
Agent  shall  promptly  notify  the  Lenders  who did  not  sign  the  agreement
appointing his Agent of his appointment.

6. If the  Senior  Lenders or the Class B Lenders  believe  that the Agent has a
conflict of interest so that one agent is unable to act solely in such  classes'
interests,  a Majority of the Lenders of each class, voting as a separate class,
may each chose an Agent in accordance  with  paragraph  5(d),  and all referrals
herein will refer to each such  Agent.Expenses.  If an Agent is appointed  under
paragraph 5(d) or 5(e) of this Agreement, Lenders shall pay him for his services
in an amount that is customary and reasonable  for such services.  The following
out-of-pocket  expenses  incurred  by  Agent,  to the  extent  not  paid  by the
Borrower,  shall be paid by the Lenders pro rata in  proportion to the amount of
the Notes held by them:

     (a)  Expenses incurred in the enforcement of the Security Documents and the
          protection, management, and preservation of the security for the Notes
          (as specified herein);

     (b)  Expenses  incurred  following  any Event of  Default  under any of the
          Notes and any expenses  incurred prior to but in connection with or in
          preparation for any such Event of Default; and

     (c)  Expenses  otherwise  incurred  and approved in advance in writing by a
          majority in interest of the Lenders for whom the Agent is acting.

7.  Payment of Fees and  Expenses.  Each Lender  shall pay its share of the fees
pursuant to paragraph  5(a) and the expenses  pursuant to paragraph 6 (such fees
and expenses  referred to as "Costs")  within  fifteen (15)  calendar days after
receipt of a written  statement  from Agent  itemizing  the Costs that have been
incurred  and are due and payable or have been paid by Agent.  In the event that
any Lender fails or refuses to pay its share of any Costs under this  paragraph,
Agent shall have a priority  claim,  to the extent of such unpaid Costs, on such
Lender's share of all payments of principal,  interest,  fees, and other charges
with respect to the Loan and of all proceeds from  realization upon the security
for the Loan.  Each  Lender  hereby  grants to Agent a security  interest in its
share of such  payments  and  proceeds to secure the payment of Costs that it is
obligated to pay hereunder.

8. Records. Custodian shall at all time keep books of account and records at his
current address  reflecting all  transactions in connection with the Notes,  the
Security Documents,  and the Lenders' interests therein.  Each Lender shall have
access  to  Custodian's  records  maintained  in  connection  with  the Loan for
inspection  and/or  copying at such  Lender's  expense at all  reasonable  times
during  business  hours.  Upon  request,  Custodian  shall furnish to any Lender
copies of title reports,  financial  information,  inspection reports, and other
documents  relating to the Loan,  the Security  Documents,  or the Borrower that
have been furnished to or prepared by Custodian in connection with the Loan.

<PAGE>

9. Liability of Custodian and Agent. (a) Neither Custodian, an Agent, nor any of
their  agents shall be liable for any action taken or not taken in good faith in
connection with the Loans or the Security  Documents,  in the absence of his own
gross negligence or willful misconduct. Neither Custodian nor any Agent shall in
no event be liable to any Lender for any action  taken or not taken by Custodian
or Agent with the consent or at the request of such  Lender,  unless such action
is performed in a grossly negligent manner or in a manner  constituting  willful
misconduct  (which  manner of  performance  was not requested or consented to by
such Lender).

         (b)  Custodian  and Agent may consult with legal  counsel,  independent
public accountants and other experts selected by him and shall not be liable for
any  action  taken or not taken in good faith  reliance  upon the advice of such
experts.  Unless  specifically  requested to do so by any Lender,  Custodian and
Agent shall have no duty to inquire into or verify (i) any statement,  warranty,
or  representation  made by the Borrower in connection  with the Loan;  (ii) the
truthfulness or genuineness of any information or document  supplied by Borrower
in connection  with the Loan; or (iii) the  genuineness of the signatures of any
party (other than Agent).  Custodian  and Agent shall not incur any liability by
acting  in  reliance  upon any  notice,  consent,  or other  writing  (including
telexes,  telecopies,  or similar instruments) believed by Custodian or Agent to
be genuine or to be signed by the proper party or parties.

10. Indemnification. Each Lender shall, pro rata, in proportion to the amount of
the Note held by him  compared to the amount of all of the Notes held by Lenders
for whom the Agent is acting under this  agreement,  indemnify Agent against any
cost, expense,  claim, demand, action, loss, or liability,  including reasonable
attorney's  fees incurred in contesting the same, that Agent may suffer or incur
in  connection  with the Loan in his  capacity as Agent,  or any action taken or
omitted by Agent in good faith under this  Agreement or the Security  Documents,
except to the extent the same arises from Agent's  gross  negligence  or willful
misconduct,  or from  actions  taken by Agent that are  outside the scope of his
authority under this Agreement.

11.  Litigation.  Subject to the  provisions of paragraph 4 hereof,  Agent shall
have  the  exclusive  right to  initiate,  direct,  and  otherwise  control  any
litigation  involving  all of the  Lenders in their  capacity  as such under the
Loan, whether as plaintiffs,  defendants,  or otherwise.  All costs and expenses
incurred  by Agent in  connection  with such  litigation,  including  reasonable
attorney's fees, shall be paid in accordance with paragraph 7 hereof.

12. Notifications. Each Lender shall endeavor (but shall not incur any
liability  for  failure  to do  so) to  notify  each  other  of  any  events  or
occurrences  that come to its attention that may have material adverse effect on
the  security  for the Notes or the ability of the  Borrowers  to perform any of
their respective obligations under the Notes.

13.  Defaults of Borrower.  Upon the  occurrence and  continuation  of any event
which might,  upon notice or the passage of time  constitute an Event of Default
under the  Security  Documents,  the  Borrower  shall  notify  the Agent and the
Custodian of the occurrence of the event of default within ten (10) days.  Agent
shall  send to each  Lender  a copy of each  notice  he  sends  to the  Borrower
pursuant to the Senior Notes and Security  Documents  notifying  the Borrower of
any  claimed  defaults  thereunder.  The  failure of  Borrower  to cure any such
default  within the time  periods,  if any,  specified in the Notes and Security
Documents shall constitute an Event of Default  thereunder  unless such Event of
Default  is waived  (either  during or after the  applicable  cure  period) by a
majority in interest of the Class of Notes to which the default relates (for any
Event of  Default  resulting  from the  failure  to make  required  payments  of
principal  and  interest on the Notes) or by a Majority of the Lenders  (for any
other Event of Default).

         Agent  shall   advise  the  Lenders   from  time  to  time  as  to  his
recommendations  with  respect to any Event of Default and the  possible  waiver
thereof.

<PAGE>

14. Enforcement. Upon the occurrence of any Event of Default under the Notes and
Security  Documents  that is not  waived  in  accordance  with the terms of this
Agreement,  Agent shall (unless otherwise  required by this Section 14) take all
reasonable steps for the enforcement of the Notes that Agent would normally take
in the event of such a default  that is not waived  under a similar loan for his
own account.  Agent shall be entitled to exercise his  reasonable  discretion to
determine when and in what manner the Security Documents shall be enforced,  and
shall control and direct all actions taken or not taken in connection  with such
enforcement;  provided, however, that a Majority of the Lenders must approve, or
may require,  the exercise of any affirmative remedy provided to Agent under the
terms of any of the Notes or Security  Documents,  including but not limited to,
acceleration of the Notes,  foreclosure of any Security  Agreement  securing the
Notes,  or the  acceptance of a deed or assignment of the  collateral in lieu of
foreclosure.  Unless  otherwise  instructed  in  writing  by a  Majority  of the
Lenders,  however,  Agent shall have no obligation to withhold  disbursements or
exercise  any right or remedy  available  to Lenders  if in  Agent's  reasonable
judgment  the  exercise  of such  rights  is not in the  best  interests  of the
Lenders.

15.  Permitted  Actions.  Any actions  that require the consent or approval of a
specified  number of  Lenders  pursuant  to the terms of this  Agreement  may be
initiated  by any group of  Lenders  comprising  the  number  whose  consent  or
approval is required. Any actions,  consents, or approvals required or permitted
of the Lenders under the Notes and Security Documents,  for which the consent or
approval of a specified number of Lenders is not required in this Agreement, may
be  taken  or given by  Agent,  and if so taken or given by Agent  shall  not be
binding upon all of the Lenders.  Agent may, however,  at his sole option at any
time upon notice to the Lenders,  request the Lenders' approval or authorization
of any action,  consent,  or approval  that may be taken or given by Agent under
the  preceding  sentence,  which  approval or  authorization  shall  require the
written  consent of the  holders of a  Majority  of the  Lenders of the class of
Notes for whom he is acting  (that  is,  the  Senior  Notes  and/or  the Class B
Notes).

         Any action  taken or decision  made by Agent or by any group of Lenders
to whom the  authority to take such action or make such  decision has been given
pursuant  to the  terms  of this  Agreement,  shall be  binding  upon all of the
Lenders,  and each Lender agrees to execute all documents  and  instruments  and
take all other  actions  that are deemed  necessary or desirable by Agent or the
Lenders making such decisions to carry out the terms thereof.

16. Further Assurances. Each Lender, and Agent after his appointment,  agrees to
use his best efforts to cooperate in the  administration  of the Note under this
Agreement and, except as specified in Section 12 hereof, to use his best efforts
to keep each other  reasonably  well informed with respect to any material event
relating to the Borrower and/or the Note. Without limiting the generality of the
foregoing,  the parties  hereby agree to execute such documents and perform such
acts as may be desirable to carry out the purposes of this Agreement,  including
without  limitation,  the  execution  of such  documents as Agent may request in
connection  with any actions or  decisions of Agent or any  specified  number of
Lenders  authorized  under  this  Agreement   regarding  the  administration  or
enforcement of the Notes, ownership, management,  operation, sale, or leasing of
the  collateral,  whether or not any Lender agrees with such decision or action.
The obligations of the parties contained herein may be specifically  enforced by
an action brought in a court of competent jurisdiction.

<PAGE>

17.  Successors  and Assigns;  Resignation  of Agent.  Any Lender shall have the
right  to  assign  its  interest  in  this  Agreement  to any one to whom it has
assigned its Senior Note.  Any Agent or Custodian  appointed  hereunder  may not
assign his obligations hereunder without the prior written consent of a Majority
of the  Lenders,  or, in the case of an Agent  appointed  pursuant to  paragraph
5(e), a Majority of the Lenders of the class it represents.  Agent may resign as
agent at any time for any reason  upon  providing  the  Lenders  10 day's  prior
written  notice.  Upon the resignation of Agent, a Majority of the Lenders shall
designate a successor  agent in accordance with the provisions of paragraph 5(d)
or 5(e).

18. No Joint  Venture.  Nothing  contained in this  Agreement or in any Security
Document shall be construed as creating a joint venture or partnership among the
parties hereto, and no party shall be obligated for the acts or omissions of any
other party except as expressly provided herein.

19.  Notices.  Except where verbal  notice is  specifically  authorized  in this
Agreement,  all  notices  hereunder  shall be in  writing  and  shall be  deemed
effectively  given or served for all purposes when  presented  personally,  upon
receipt if sent by first  class mail or  over-night  express,  or on the date of
transmission if sent by telegram,  telex, or telecopy to any party hereto at the
address set forth on the signature page hereof,  or at such other address as any
party shall subsequently designate by notice.

20.  Approvals.  Any  document,  information,  or action  that is required to be
approved by any party under this  Agreement  shall be approved or disapproved by
written  notice given no later than fifteen (15)  calendar days after receipt of
such document,  information,  or written request for approval of such action. If
any party fails to give its written approval or disapproval of any matter within
the  foregoing  fifteen-day  period,  such party will be deemed to have approved
such matter for all purposes.

21. No Oral Change. This Agreement may not be changed, discharged, or terminated
orally,  but only by an instrument  in writing  signed by the party against whom
enforcement of the change, discharge, or termination is sought.

22.  Arbitration.  If at any time during the term of this Agreement any dispute,
difference, or disagreement shall arise upon or in respect of the Agreement, and
the  meaning  and  construction  hereof,  every such  dispute,  difference,  and
disagreement  shall be referred to a single  arbiter agreed upon by the parties,
or if no single  arbiter can be agreed  upon,  an arbiter or  arbiters  shall be
selected in accordance  with the rules of the American  Arbitration  Association
and such dispute, difference, or disagreement shall be settled by arbitration in
accordance with the then prevailing commercial rules of the American Arbitration
Association,  and judgment upon the award rendered by the arbiter may be entered
in any court having jurisdiction thereof.

23. Litigation Costs. In the event of any controversy,  claim,  arbitration,  or
legal action among the parties  hereto arising out of this Agreement or relating
to the Loan,  the  prevailing  party will be entitled to recover  from the other
party or parties  (jointly  or  severally)  all costs,  damages,  and  expenses,
including  reasonable  attorney's  fees,  incurred  by the  prevailing  party in
connection with such controversy, claim, arbitration, or legal action.

24.  Governing  Law.  This  Agreement  shall be  governed  by and  construed  in
accordance  with the laws of the State of Texas,  excluding its laws of conflict
of laws.

25.  Severability.  The  provisions  of  this  Agreement  are  severable  and  a
declaration by a court of competent jurisdiction that any of those provisions is
invalid or unenforceable  shall not affect the validity or enforceability of any
other provision.

<PAGE>

26. Headings.  The headings used herein are for purposes of convenience only and
should not be used in construing the provisions hereof.

27. Counterparts.  This agreement may be executed in any number of counterparts,
each of which shall be deemed to be an original and all of which  together shall
be deemed the same document.

28. Borrower and Custodian.  By executing this  Agreement,  the Borrower and the
Custodian agree to the terms hereof so far as applicable to each of them.

         IN WITNESS  WHEREOF,  the  parties  have caused  this  Agreement  to be
executed  by their duly  authorized  agents as of the day and year  first  above
written.

     Signature of the Borrower and Custodian appear on the following page.

                 Signatures of the Lenders appear on Exhibit A-1

<PAGE>

MOMENTUM BIOFUELS, INC.
a Colorado Corporation

By:_____________________________

The undersigned  agrees to act as Custodian in accordance with the terms of this
agreement.

BATHGATE CAPITAL PARTNERS LLC

By:_____________________________
         Vicki D. Barone
         Senior Managing Partner

                 Signatures of the Lenders appear on Exhibit A-1

<PAGE>

                                   EXHIBIT A-1
                                     LENDERS

____________________________________
Print Name of Lender

____________________________________
Signature

____________________________________
Print Title of Person Signing

____________________________________

____________________________________

Address of Lender

____________________________________
Principal Amount of the LoanSENIOR SECURED CONVERTIBLE NOTE

"AMOUNT"                                                  League City, Texas
                                                                     ____, 2008

         FOR VALUE RECEIVED,  Momentum  Biofuels,  Inc., a Colorado  corporation
("MMBI")    and    Momentum     Biofuels,     Inc.,    a    Texas    corporation
("MMBI-Texas")(together,  "Borrower"),  2600 South Shore Blvd, Suite 100, League
City,  TX 77573 (the  "Borrower"),  promises  to pay to the order of "NAME" at
"ADDRESS"  (the  "Holder")  or at such other  place as Holder may from time to
time designate in writing, the principal sum of "AMOUNT" ($AutoMergeField)
in lawful money of the United  States of America,  together  with interest on so
much  thereof  as is from  time  to time  outstanding  at the  rate  hereinafter
provided, and payable as hereinafter provided.

         This note is one of a series of notes,  designated  the Senior  Secured
Convertible  Notes  (individually  referred to herein as a "Note," the series of
notes is referred to herein  collectively  as the  "Notes"),  aggregating  up to
$600,000 issued by the Borrower.  All the Notes shall rank pari passu in respect
to payment of principal and interest and upon any  dissolution,  liquidation  or
winding-up  of  Borrower,  or either of them.  The holders of the Notes shall be
referred to as the "Lenders." As used herein, the term "Majority of the Lenders"
means a majority in interest of the Holders of the Notes.

1.  Interest  Rate.  The unpaid  balance of this Note shall bear interest at the
rate of ten percent (10%) per annum, simple interest.

2. Payment/Maturity Date. Interest will be payable quarterly on the first day of
the  months of  August,  November,  February,  and May.  The  total  outstanding
principal  balance hereof,  together with accrued and unpaid interest,  shall be
paid on May 1, 2013.

3. Payment in Kind.  Interest will be payable in cash.

4. Default  Interest and Attorney  Fees.  Upon  declaration  of a valid  default
hereunder,  the balance of the  principal  remaining  unpaid,  interest  accrued
thereon,  and all other  costs,  and fees  shall  bear  interest  at the rate of
eighteen  percent  (18%) per  annum  from the date of  default.  In the event of
default, the Borrower and all other parties liable hereon agree to pay all costs
of collection,  including reasonable  attorneys' fees. In addition,  if Borrower
defaults in any of the covenants set forth in paragraph 11,  Borrower will issue
Holder one  warrant  to  purchase  one share of MMBI's  common  stock  ("Penalty
Warrant") for each $.25 principal  amount of the Note. The Penalty Warrants will
be exercisable for seven years from the date of default at an exercise price per
share of the  closing bid price of MMBI's  common  stock on the date of default,
and shall have customary anti-dilution rights (for stock splits, stock dividends
and sales of substantially all the company's assets), and piggyback registration
rights.

5. Security Agreement. This Note is secured by all of the assets and property of
Borrower (the "Property"),  in accordance with the terms of a Security Agreement
(the "Security Agreement") and other documents evidencing such security interest
between the Borrower and the Holder (with the Security Agreement,  the "Security
Documents.").

6. Interest  Calculation.  Daily  interest shall be calculated on a 365-day year
and the actual number of days in each month.

<PAGE>

7.       Conversion.

     (a)  Holder may convert the  balance of the Note,  or any portion  thereof,
          and all accrued  interest  into shares of MMBI's  common  stock at any
          time at the Conversion Price of $0.40 per share.

     (b)  Upon any recapitalization or restructuring or other adjustment of MMBI
          capital  structure  in which the  number of shares of common  stock is
          adjusted,  increased or decreased,  or otherwise  modified,  or in the
          event of a spin-off  or other  distribution  of  assets,  or merger or
          acquisition,  then the number  and type of shares or other  securities
          into which the principal  amount and accrued interest of this Note may
          be converted  shall  likewise be changed so that this Note and accrued
          interest is thereafter convertible into the number of shares of common
          stock or other securities of MMBI which the Holder would have received
          had the Holder  converted  the  entire  principal  amount and  accrued
          interest under this Note into common stock of MMBI  immediately  prior
          to such recapitalization, restructuring or other event.

     (c)  The Holder may not convert  any portion of this Note,  or be forced to
          convert any portion of this Note, to the extent such conversion  would
          result in the Holder  beneficially owning (as determined in accordance
          with Section  13(d) of the Exchange Act and the rules  thereunder)  in
          excess of 4..999% of the then  issued and  outstanding  shares of MMBI
          common stock,  including  shares  issuable upon conversion of the Note
          held by the Holder  after  application  of this  paragraph;  provided,
          however, that upon a holder of this Note providing MMBI with sixty-one
          (61) days prior notice (the "Waiver  Notice")  that such holder waives
          this subparagraph 7(d) with regard to any or all shares of MMBI common
          stock issuable upon  conversion of this Note,  this Section 7(d) shall
          be of no force or effect  with  regard to those  shares of MMBI common
          stock referenced in the Waiver Notice;  provided,  further,  that this
          provision  shall be of no further force or effect during the sixty-one
          (61) days  immediately  preceding  the  expiration of the term of this
          Note.

     (d)  The Holder may not convert  any portion of this Note,  or be forced to
          convert any portion of this Note, to the extent such conversion  would
          result in the Holder  beneficially owning (as determined in accordance
          with Section  13(d) of the Exchange Act and the rules  thereunder)  in
          excess of 9.999% of the then  issued  and  outstanding  shares of MMBI
          common stock,  including  shares  issuable upon conversion of the Note
          held by the Holder  after  application  of this  paragraph;  provided,
          however, that upon a holder of this Note providing MMBI with sixty-one
          (61) days prior notice (the "Waiver  Notice")  that such holder waives
          this subparagraph 7(d) with regard to any or all shares of MMBI common
          stock issuable upon  conversion of this Note,  this Section 7(d) shall
          be of no force or effect  with  regard to those  shares of MMBI common
          stock referenced in the Waiver Notice;  provided,  further,  that this
          provision  shall be of no further force or effect during the sixty-one
          (61) days  immediately  preceding  the  expiration of the term of this
          Note.

8.  Anti-Dilution.  If at any time before this Note is paid in full or converted
in full the MMBI (a) sells its common stock, or securities  convertible into its
common  stock,  at a price (or an  equivalent  conversion  price) lower than the
Conversion Price set forth in paragraph 7 of this Note; or (b) reduces the price
at which any of its convertible securities or warrants (other than this Note and
the Warrant issued at the same time as this Note) may be converted or exercised,
the  Conversion  Price  will be  reduced  to the price of the  common  stock (or
equivalent  conversion price) in such subsequent  transaction or transactions or
reductions.

<PAGE>

9.  Prepayment.  This Note may be prepaid in whole or part upon 30 days  written
notice.  If this Note is prepaid before May 1, 2010,  MMBI will issue the holder
of the Note a warrant (a  "Prepayment  Warrant") to purchase one share of MMBI's
common  stock  for each  $1.00  principal  amount of the  Note.  The  Prepayment
Warrants will be  exercisable  for seven years from the date the Note is paid at
an exercise price per share equivalent to the closing bid price of MMBI's common
stock on the date of payment, and shall have customary anti-dilution rights (for
stock  splits,  stock  dividends  and sales of  substantially  all the company's
assets), and piggyback registration rights

10. Costs of Collection.  Borrower agrees that if, and as often as, this Note is
placed in the hands of an attorney for collection or to defend or enforce any of
Holder's rights hereunder or under any instrument securing payment of this Note,
as the result of Borrower being in actual default or actual breach of any of the
covenants  herein,  Borrower shall pay to Holder its reasonable  attorneys' fees
and all  court  costs and  other  expenses  incurred  in  connection  therewith,
regardless of whether a lawsuit is ever commenced or whether, if commenced,  the
same proceeds to judgment or not. Such costs and expenses shall include, without
limitation,  all costs,  reasonable  attorneys'  fees, and expenses  incurred by
Holder  in  connection   with  any   insolvency,   bankruptcy,   reorganization,
foreclosure,  deed in lieu  of  foreclosure  or  similar  proceedings  involving
Borrower or any  endorser,  surety,  guarantor,  or other person liable for this
Note which in any way affect the  exercise by Holder of its rights and  remedies
under this Note, or any other document or instrument  securing,  evidencing,  or
relating to the indebtedness evidenced by this Note.

11.  Default.  Borrower agrees that upon the occurrence of any default set forth
below, and such default continues for a period of 30 days after Holder has given
written notice of such default as provided herein, at the option of Holder,  the
unpaid  principal  balance of this Note and all accrued  interest  thereon shall
become immediately due, payable, and collectible, without notice or demand, upon
the occurrence at any time of any of the following  events,  each of which shall
be deemed to be an event of default hereunder.

     (a)  Borrower's  failure to make any payment of  principal on or before the
          date on which such payment becomes due and payable under this Note;

     (b)  Borrower's failure to make any payment of interest or other charges on
         or before the date on which such payment  becomes due and payable under
         this Note and such failure continues for a period of 30 days;

     (c)  Dissolution, liquidation or termination of either Borrower;

     (d)  The commission of any act of insolvency by Borrower,  or the making of
          an assignment  to or for the benefit of creditors of Borrower,  or the
          appointment  of a  receiver,  liquidator,  conservator  or  trustee of
          Borrower,  or its property,  or the filing of a voluntary  petition or
          the  commencement  of any  proceeding by Borrower for relief under any
          bankruptcy,  insolvency,  reorganization,  arrangement or receivership
          laws,  or any other law relating to the relief of debtors of any state
          or of the United  States,  or the filing of any  involuntary  petition
          (unless and until  discharged  or  dismissed  within 30 business  days
          after such  filing) for the  bankruptcy,  insolvency,  reorganization,
          arrangement or  receivership  or the  involuntary  commencement of any
          similar proceeding under the laws of any state or of the United States
          relating to the relief of debtors, against Borrower;;

     (e)  Failure to make any prepayment  after  announcing  such  prepayment in
          accordance with paragraph 9.

<PAGE>

     (f)  Entry of a decree  or order  by a court  having  jurisdiction  for the
          appointment  of a  receiver  or  trustee or  assignee  in  insolvency,
          bankruptcy or reorganization of either Borrower or of its property, or
          for the winding up or liquidation of its affairs,  and continuation of
          such decree or order in force undischarged or unstayed for a period of
          ninety (90) days.

     (g)  Borrower's  material breach or material  violation of any agreement or
          covenant  contained  in this Note not  specified  in (a)  through  (f)
          above, or in any other document or instrument securing, evidencing, or
          relating to the indebtedness evidenced by this Note and such breach or
          violation  continues for a period of 30 days after  written  notice of
          such breach or violation is given as specified herein;

Upon the occurrence of any event which might, upon notice or the passage of time
constitute an Event of Default,  the Company shall notify the Holder of the Note
and the  Holders of all other  Notes of the  occurrence  of the event of default
within ten (10) days.

12. Application of Payments. Any payment made against the indebtedness evidenced
by this Note shall be  applied  against  the  following  items in the  following
order: (1) costs of collection, including reasonable attorneys' fees incurred or
paid; (2) all costs, expenses, default interest, late charges and other expenses
incurred by Holder and all other  holders of the Notes and  reimbursable  to the
Holders pursuant to this Note and all other Notes (as described herein);  (3) to
the Holders of all Notes, ordinary interest accrued to the date of said payment;
and (4) finally, outstanding principal to the Holders of all outstanding Notes.

13.  Representations,  Warranties  and Covenants of the Borrower.  Each Borrower
represents, warrants and covenants with the Holder as follows:

     (a)  Authorization;  Enforceability. All Borrower action on the part of the
          Borrower  necessary for the  authorization,  execution and delivery of
          this  Note and the  performance  of all  obligations  of the  Borrower
          hereunder  has been  taken,  and this  Note  constitutes  a valid  and
          legally binding obligation of the Borrower,  enforceable in accordance
          with  its  terms  except  (i) as  limited  by  applicable  bankruptcy,
          insolvency,  reorganization,  moratorium  and  other  laws of  general
          application affecting enforcement of creditors' rights generally,  and
          (ii) as limited  by laws  relating  to the  availability  of  specific
          performance, injunctive relief or other equitable remedies.

     (b)  Governmental Consents. No consent, approval,  qualification,  order or
          authorization  of,  or  filing  with,  any  local,  state  or  federal
          governmental  authority  is  required  on the part of the  Borrower in
          connection   with  the  Borrower's   valid   execution,   delivery  or
          performance of this Note except any notices  required to be filed with
          the  Securities  and  Exchange  Commission  under  Regulation D of the
          Securities  Act, or such filings as may be required  under  applicable
          state   securities  laws,  which  will  be  timely  filed  within  the
          applicable periods therefor.

<PAGE>

     (c)  No Violation. The execution,  delivery and performance by the Borrower
          of this Note and the  consummation  of the  transactions  contemplated
          hereby will not result in a violation in any  material  respect of its
          Articles of  Incorporation  or  By-Laws,  or of any  provision  of any
          mortgage, agreement,  instrument or contract to which it is a party or
          by which it is bound or, to the best of its knowledge,  of any federal
          or state judgment,  order, writ, decree,  statute,  rule or regulation
          applicable  to  the  Borrower  or  be in  material  conflict  with  or
          constitute,  with or without  the passage of time or giving of notice,
          either a material  default  under any such  provision or an event that
          results in the creation of any material  lien,  charge or  encumbrance
          upon  any  assets  of  the  Borrower  or the  suspension,  revocation,
          impairment,  forfeiture or nonrenewal of any material permit, license,
          authorization or approval applicable to the Borrower,  its business or
          operations, or any of its assets.

     (d)  In Pari Passu. The Borrower may create additional  security  interests
          in the  Property  to secure  payment of  additional  debt that will be
          equal to or subordinate to the interest of the Note Holders if holders
          of  two-thirds  in interest of the Notes  agree.  Any such  additional
          security interests may only secure new loans to the Borrower.

     (e)  Covenants.  So long as any Note is outstanding  and in addition to the
          other covenants of the Borrower set forth herein:

               (i) Borrower will pay no dividends or other  distributions to the
          holders of any shares of its common  stock  unless all  payments  have
          been made to the Holders on a current basis.

               (ii) The Borrower  will provide the Holders  prompt notice of any
          material  adverse event  affecting the Borrower or companies  owned by
          the Borrower.

               (iii) The Borrower shall make in a timely manner all payments due
          and not reasonably  disputed to any person who has a security interest
          in the Property.

14. Assignment of Note. This Note may not be assigned by Borrower.  The Note may
be assigned by Holder with the express  written  consent of the Borrower,  which
consent will not unreasonably be withheld.

15.  Non-Waiver.  No delay or omission on the part of Holder in  exercising  any
rights or remedy  hereunder shall operate as a waiver of such right or remedy or
of any  other  right or  remedy  under  this  Note.  A waiver on any one or more
occasion  shall not be  construed as a bar to or waiver of any such right and/or
remedy on any future occasion.

16. Maximum Interest. In no event whatsoever shall the amount paid, or agreed to
be paid,  to Holder for the use,  forbearance,  or  retention of the money to be
loaned  hereunder  ("Interest")  exceed the  maximum  amount  permissible  under
applicable  law. If the performance or fulfillment of any provision  hereof,  or
any agreement between Borrower and Holder shall result in Interest exceeding the
limit for Interest  prescribed by law, then the amount of such Interest shall be
reduced to such  limit.  If, from any  circumstance  whatsoever,  Holder  should
receive as Interest an amount  which would exceed the highest  lawful rate,  the
amount which would be excessive  Interest  shall be applied to the  reduction of
the principal balance owing hereunder (or, at the option of Holder, be paid over
to Borrower) and not to the payment of Interest.

<PAGE>

17. Purpose of Loan.  Borrower certifies that the loan evidenced by this Note is
obtained for business or commercial  purposes and that the proceeds thereof will
not be used primarily for personal, family, household or agricultural purposes.

18. Waiver of Presentment.  Borrower and the endorsers, sureties, guarantors and
all persons who may become liable for all or any part of this  obligation  shall
be jointly  and  severally  liable for such  obligation  and hereby  jointly and
severally waive presentment and demand for payment, notice of dishonor,  protest
and notice of protest, and any and all lack of diligence or delays in collection
or enforcement  hereof. Said parties consent to any modification or extension of
time (whether one or more) of payment hereof,  the release of all or any part of
the  security  for the payment  hereof,  and the release of any party liable for
payment of this  obligation.  Any  modification,  extension,  or release  may be
without notice to any such party and shall not discharge said party's  liability
hereunder.

19. Governing Law. As an additional  consideration  for the extension of credit,
Borrower  and each  endorser,  surety,  guarantor,  and any other person who may
become liable for all or any part of this  obligation  understand and agree that
the loan evidenced by this Note is made in the State of Texas and the provisions
hereof will be construed in accordance with the laws of the State of Texas,  and
such  parties  further  agree  that in the  event of  default  this  Note may be
enforced in any court of competent  jurisdiction in the State of Texas, and they
do hereby submit to the jurisdiction of such court regardless of their residence
or where this Note or any endorsement hereof may be executed.

20.  Binding  Effect.  The term  "Borrower"  as used  herein  shall  include the
original Borrower of this Note and any party who may subsequently  become liable
for the payment  hereof as an assumer  with the consent of the Holder,  provided
that  Holder may, at its option,  consider  the  original  Borrower of this Note
alone as Borrower unless Holder has consented in writing to the  substitution of
another party as Borrower.

21. Joint and Several Liability of Borrowers.  Borrower and BBII are jointly and
severally liable on this Note.

22. Relationship of Parties.  Nothing herein contained shall create or be deemed
or  construed  to create a joint  venture or  partnership  between  Borrower and
Holder. Holder is acting hereunder as a lender only.

23.  Severability.  Invalidation of any of the provisions of this Note or of any
paragraph,  sentence, clause, phrase, or word herein, or the application thereof
in any given  circumstance,  shall not affect the  validity of the  remainder of
this Note.

24. Amendment.  This Note may not be amended,  modified, or changed, except only
by an instrument in writing signed by both of the parties.

25. Time of the Essence.  Time is of the essence for the performance of each and
every obligation of Borrower hereunder.

26.  Notices.  All notices,  consents,  approvals,  requests,  demands and other
communications  which are required or may be given hereunder shall be in writing
and shall be duly given if personally  delivered,  sent by telefax,  telegram or
overnight courier or posted by U.S. registered or certified mail, return receipt
requested,  postage  prepaid and addressed to the other parties at the addresses
set forth below.

<PAGE>

         If to the Borrowers:

                  Momentum  Biofuels, Inc.
                  2600 South Shore Blvd
                  Suite 100
                  League City, TX 77573
                  ATTN: President

         If to the Holder:

                  at the address as shown on the register maintained by the
                  Holder for such purpose.

         Each of the above  addressees  may change its address  for  purposes of
this  Section  by giving to the other  addressee  notice of such new  address in
conformance with this Section.  If the Borrower  receives any notice pursuant to
this Note or any other Note of this series, it must, not later than within three
business days,  dispatch a copy of such notice to the Holder of this Note and to
each other Holder of any Note as reflected in the current Note Register.

27. Agreement among Lenders.  Borrower acknowledges that Lenders will enter into
an Agreement among Lenders pursuant to which Lenders may appoint an agent to act
on their behalf (the  "Agent").  A copy of the Agreement  among Lenders shall be
provided to  Borrower.  Borrower,  upon  receiving  written  notice  signed by a
Majority of the Lenders that an Agent has been appointed on their behalf,  shall
acknowledge and accept the Agent's  authority to act on behalf of the Lenders in
accordance with the Agreement among Lenders

         IN WITNESS  WHEREOF,  the  undersigned has executed this Note as of the
[DATE], 2008.

                                                     MOMENTUM BIOFUELS, INC.
                                                     a Colorado corporation

                                                     By:________________________
                                                        Chief Executive Officer

                                                     MOMENTUM BIOFUELS, INC.
                                                     a Texas corporation

                                                     By:________________________
                                                        Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}]]