Document:

PRAIRIE
      CREEK ETHANOL, LLC

    

    SUBSCRIPTION
      AGREEMENT

    

    Limited
      Liability Company Membership Units 

     

    $5,000
      per Unit

     

    Minimum
      Investment of 2 Units ($10,000)

    1
      Unit Increments Thereafter ($5,000)

    

    The
      undersigned subscriber ("Subscriber"), desiring to become a member of Prairie
      Creek Ethanol, LLC (“Prairie Creek”), an Iowa limited liability company, with
      its principal place of business at 415 N. Locust Street, PO Box 280, Goldfield,
      Iowa 50542 hereby subscribes for the purchase of membership units of Prairie
      Creek, and agrees to pay the related purchase price, identified
      below.

     

    A. SUBSCRIBER
      INFORMATION. Please
      print your individual or entity name and address. If we accept your
      subscription, the units will be titled in the name of the subscriber as it
      appears below. Joint subscribers should provide both names. Your name and
      address will be recorded exactly as printed below. Please provide your home,
      business and/or mobile telephone number. If desired, please also provide your
      e-mail address. 

    

    
      	
              1.

            	
              Subscriber's
                Printed Name 

            	
              _________________________________________________________
                

            
	
              2.

            	
              Title,
                if applicable

            	
              _________________________________________________________

            
	
              3.

            	
              Subscriber's
                Address

            	 
	 	
              Street
                

            	
              _________________________________________________________

            
	 	
              City,
                State, Zip Code

            	
              _________________________________________________________

            
	
              4.

            	
              E-mail
                Address (optional)

            	
              _________________________________________________________

            
	
              5.

            	
              Home
                Telephone Number

            	
              _________________________________________________________

            
	
              6.

            	
              Business
                Telephone Number

            	
              _________________________________________________________

            
	
              7.

            	
              Mobile
                Telephone Number

            	
              _________________________________________________________

            

    

    

    B. NUMBER
      OF UNITS PURCHASED. You
      must
      purchase at least 2 units. Your ownership interest may not exceed 90% of our
      outstanding membership units. We currently have 1,523 units outstanding.
      Accordingly, assuming that we sell the minimum number of 11,800 units in this
      offering, you may not hold more than 11,990 units. The maximum number of units
      to be sold in the offering is 27,600.

    
      
        	 	 
	 	 
	 	
                units

              

      

    

     

    C. PURCHASE
      PRICE. Indicate
      the dollar amount of your investment (minimum investment is
      $10,000).

    

    
      	
              1.
                Total
                Purchase Price

              ($5,000
                per unit multiplied 

              by
                number of units)

            	
              =

            	
              2.
                1st
                Installment

              (10%
                of Total Purchase Price)

            	
              +

            	
              3.
                2nd
                Installment

              (90%
                of Total Purchase Price)

            
	 	 	 	 	 
	 	
              =

            	 	
              +

            	 

    

    

    D. GENERAL
      INSTRUCTIONS FOR SUBSCRIBERS: 

    

    You
      should read the Prospectus dated [DATE OF EFFECTIVENESS] (the "Prospectus")
      in
      its entirety including the exhibits for a complete explanation of an investment
      in Prairie Creek. 

    

    INSTRUCTIONS
      IF YOU ARE SUBSCRIBING PRIOR
      TO THE COMPANY’S RELEASE OF FUNDS FROM ESCROW: If
      you
      are subscribing prior to the Company’s release of funds from escrow, you must
      follow the instructions contained in paragraphs 1 through 5 below:

    

    1. Complete
      all information required in this Subscription Agreement, and date and sign
      the
      Subscription Agreement on page 6 and the Member Signature Page to our Second
      Amended and Restated Operating Agreement attached to this Subscription Agreement
      as Exhibit A.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    2. Immediately
      provide a personal (or business) check for the first installment of ten percent
      (10%) of your investment amount. The check should be made payable to
“Iowa
      State Bank of Algona, escrow agent for Prairie Creek Ethanol,
      LLC.”
You
      will determine this amount in box C.2 on page 1 of
      this
      Subscription Agreement.

    

    3. Execute
      the Promissory Note and Security Agreement on page 7 of
      this
      Subscription Agreement evidencing your commitment to pay the remaining ninety
      percent (90%) due for the units. The Promissory Note and Security Agreement
      is
      attached to this Subscription Agreement and grant Prairie Creek Ethanol, LLC
      a
      security interest in your units.

    

    4.
       Deliver
      the original executed documents referenced in paragraphs 1 and 3 of these
      instructions, together with a personal or business check as described in
      Paragraph 2 of these instructions to:

    

    Prairie
      Creek Ethanol, LLC   

    415
      N.
      Locust Street, PO Box 280

    Goldfield,
      Iowa 50542  

    

    5. Within
      20
      days of written notice from Prairie Creek that your subscription has been
      accepted, you must remit an additional personal (or business) check for the
      second installment of ninety percent (90%) of your investment amount made
      payable to “Iowa
      State Bank of Algona, escrow agent for Prairie Creek Ethanol,
      LLC”
in
      satisfaction of the Promissory Note and Security Agreement. You will determine
      this amount in box C.3 on page 1 of
      this
      Subscription Agreement. You must deliver this check to the same address set
      forth above in paragraph 4 within twenty (20) days of the date of Prairie
      Creek's written notice. If you fail to pay the second installment pursuant
      to
      the Promissory Note and Security Agreement, Prairie Creek shall be entitled
      to
      retain your first installment and to seek other damages, as provided in the
      Promissory Note and Security Agreement. This means that if you are unable to
      pay
      the 90% balance of your investment amount within 20 days of our notice, you
      may
      have to forfeit the 10% cash deposit.

    

    Your
      funds will be placed in Prairie Creek’s escrow account at Iowa State Bank of
      Algona. The funds will be released to Prairie Creek or returned to you in
      accordance with the escrow arrangements described in the Prospectus. Prairie
      Creek may, in its sole discretion, reject or accept any part or all of your
      subscription. If Prairie Creek rejects your subscription, your Subscription
      Agreement and investment will be promptly returned to you, plus any nominal
      interest. Prairie Creek may not consider the acceptance or rejection of your
      subscription until a future date near the end of this offering. 

    

    INSTRUCTIONS
      IF YOU ARE SUBSCRIBING AFTER
      THE COMPANY’S RELEASE OF FUNDS FROM ESCROW: If
      you
      are subscribing after the Company’s release of funds from escrow, you must
      follow the instructions contained in paragraphs 1 through 3 below:

    

    1. Complete
      all information required in this Subscription Agreement, and date and sign
      the
      Subscription Agreement on page 6 and the Member Signature Page to our Second
      Amended and Restated Operating Agreement attached to this Subscription Agreement
      as Exhibit A.

    

    2. Immediately
      provide your personal (or business) check for the entire amount of your
      investment (as determined in box C.1 on page 1) made payable to “Prairie
      Creek Ethanol, LLC.”

    

    3.
       Deliver
      the original executed documents referenced in paragraph 1 of these instructions,
      together with your personal or business check as described in paragraph 2
      to:

     

    Prairie
      Creek Ethanol, LLC   

    415
      N.
      Locust Street, PO Box 280

    Goldfield,
      Iowa 50542 

    

    If
      you
      are subscribing after we have released funds from escrow and we accept your
      investment, your funds will be immediately at-risk as described in the
      Prospectus. Prairie Creek may, in its sole discretion, reject or accept any
      part
      or all of your subscription. If Prairie Creek rejects your subscription, your
      Subscription Agreement and investment will be returned to you promptly, plus
      any
      nominal interest. Prairie Creek may not consider the acceptance or rejection
      of
      your subscription until a future date near the end of this offering.

     

    You
      may
      direct your questions to either of our directors listed below or to Prairie
      Creek at (515)
      825-3161.

     

    
      	
              NAME

            	 	
              POSITION

            	 	
              PHONE
                NUMBER

            
	
              Brad
                Davis

            	 	
              Senior
                Vice President of Project Development

            	 	
              (515)-293-2730

            
	
              Clay
                Hansen

            	 	
              Chairman,
                President and Director

            	 	
              (515)-368-1795

            
	
              Mervin
                Krauss

            	 	
              Vice
                Chairman, Vice President and Director 

            	 	
              (641)-512-9083

            
	
              Duane
                Madoerin

            	 	
              Vice
                President of Commodities

            	 	
              (515)-293-1434

            
	
              Mike
                Nail

            	 	
              Vice
                President of Marketing

            	 	
              (515)-293-1966

            
	
              Lynn
                Ostendorf

            	 	
              Vice
                President of Development

            	 	
              (641)-425-9500

            
	
              John
                Rohrer

            	 	
              Vice
                President of Transportation

            	 	
              (515)-293-1270

            
	
              John
                Stelzer

            	 	
              Treasurer

            	 	
              (515)-293-1710

            
	
              Mark
                Wigans 

            	 	
              Secretary
                and Director

            	 	
              (515)-368-1135

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    E. Additional
      Subscriber Information. Subscriber,
      named above, certifies the following under penalties of perjury:

    

    
      	 	
              1.

            	
              Form
                of Ownership.
                Check the appropriate box (one only) to indicate form of ownership.
                If the
                subscriber is a Custodian, Corporation, Partnership or Trust, please
                provide the additional information requested.

            

    

    

    
      	 	
              o

            	
              Individual

            

    

    
      	 	 	 

      	 	
              
                o

              

            	
              Joint
                Tenants with Right of Survivorship (Both signatures must appear on
                page
                6.)

            

      	 	 	 

    

    
      	 	
              
                o

              

            	
              Corporation,
                Limited Liability Company or Partnership (Corporate Resolutions,
                Operating
                Agreement or Partnership Agreement must be
                enclosed.)

            

      	 	 	 

    

    
      	 	
              
                o

              

            	
              Trust
                

            

    

    Trustee’s
      Name: _________________________________________  

    Trust
      Date: _____________________________________________  

     

    
      	
            	o	
              Other:
                Provide detailed information in the space immediately below.

              
                _________________________________________________________

                
                  _________________________________________________________

                

              

            

    

     

    
      	 	
              2.

            	
              Subscriber's
                Taxpayer Information.
                Check the appropriate box if you are a non-resident alien, a U.S.
                Citizen
                residing outside the United States, and/or subject to backup withholding.
                All individual subscribers should provide their Social Security Numbers.
                Trusts should provide the trust's taxpayer identification number.
                Custodians should provide the minor's Social Security Number. Other
                entities should provide the entity's taxpayer identification
                number.

            

    

    

    
      	 	
              
                o

              

            	
              Check
                box if you are a non-resident alien

            

    

    
      	 	 	 

      	 	
              
                o

              

            	
              Check
                box if you are a U.S. citizen residing outside of the United
                States

            

      	 	 	 

    

    
      	 	
              
                o

              

            	
              Check
                this box if you are subject to backup
                withholding

            

    

    

    
      
        	
                Subscriber's
                  Social Security No.

              	
                _____________________________

              
	
                Joint
                  Subscriber's Social Security No.

              	
                
                  _____________________________

                

              
	
                Taxpayer
                  Identification No.

              	
                _____________________________

              

      

    

     

    
      	 	
              3.

            	
              Member
                Report Address.
                If
                you would like duplicate copies of member reports sent to an address
                that
                is different than the address identified in section A, please complete
                this section.

            

    

    

    
      
        	
                Address:

              	
                _______________________________________________________

                
                  _______________________________________________________

                

              

      

    

     

    
      	 	
              4.

            	
              State
                of Residence.

            

    

    
      
        	
                State
                  of Principal Residence:

              	
                _____________________________

              
	
                State
                  where driver's license is issued:

              	
                _____________________________

              
	
                State
                  where resident income taxes are filed:

              	
                _____________________________

              

      

    

     

    State(s)
      in which you have maintained your principal residence during the past three
      years: 

    
      	 	 	 
	
              a.

               

            	
              b.

               

            	
              c.

               

            

    

    

    
      	 	
              5.

            	
              Suitability
                Standards.
                You cannot invest in Prairie Creek unless you meet one of the following
                suitability tests (a or b) set forth below. Please review the suitability
                tests and check the box next to the following suitability test that
                you
                meet. For husbands and wives purchasing jointly, the tests below
                will be
                applied on a joint basis.

            

    

    

    
      	 	
              a. o

            	
              I
                (We) have annual income from whatever source of at least $45,000
                and
                a
                net worth of at least $45,000, exclusive of home, furnishings and
                automobiles; or

            

    

    

    
      	 	
              b. o 

            	
              I
                (We) have a net worth of at least $100,000, exclusive of home, furnishings
                and automobiles;

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              c. o

            	
              I
                (We) have a net worth of $150,000, exclusive of home, home furnishings,
                and automobiles;

            

    

    

    
      	 	
              d. o

            	
              I
                (We) reside in Iowa and I (we) have a net worth of $60,000 (exclusive
                of
                home, auto and furnishings) and annual income of $60,000 or, in the
                alternative, a net worth of $150,000 (exclusive of home, auto and
                furnishings); or

            

    

    

    
      	 	
              e.
                o

            	
              I
                (We) reside in Kansas and I (we) have a net worth of $60,000 (exclusive
                of
                home, auto and furnishings) and annual income of $60,000 or, in the
                alternative, a net worth of $225,000 (exclusive of home, auto and
                furnishings).

            

    

    

    
      	 	
              6.

            	
              Subscriber's
                Representations and Warranties.
                You must read and certify your representations and warranties by
                placing
                your initials where indicated and by signing and dating this Subscription
                Agreement. Joint
                subscribers are also required to initial and sign as
                indicated.
                

            

    

    

    (Initial
      here) (Joint initials) By signing below the subscriber represents and warrants
      to Prairie Creek that he, she or it:

    

    
      	
              
                ______

              

            	
              
                ______

              

            	
               

            	
              a.

            	
              has
                received a copy of Prairie Creek's Prospectus dated [DATE OF
                EFFECTIVENESS] and the exhibits thereto or has received notice that
                this
                sale has been made pursuant to a registration statement in which
                a final
                prospectus would have been required to have been delivered in the
                absence
                of Rule 172;

            

      	 	 	 	 	 

    

    
      	
              
                ______
 

            	
              
                
                  ______

                

              

            	
               

            	
              b.

            	
              has
                been informed that the units of Prairie Creek are offered and sold
                in
                reliance upon a federal securities registration; state registrations
                in
                Florida, Illinois, Iowa, Kansas, Missouri, Nebraska, South Dakota
                and
                Wisconsin; and exemptions from securities registrations in various
                other
                states, and understands that the units to be issued pursuant to this
                subscription agreement can only be sold to a person meeting requirements
                of suitability;

            

      	 	 	 	 	 

    

    
      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              c.

            	
              has
                been informed that the securities purchased pursuant to this Subscription
                Agreement have not been registered under the securities laws of any
                state
                other than Florida, Illinois, Iowa, Kansas, Missouri, Nebraska, South
                Dakota and Wisconsin and that Prairie Creek is relying in part upon
                the
                representations of the undersigned Subscriber contained
                herein;

            

      	 	 	 	 	 

    

    
      	
              
                ______
 

            	
              
                
                  ______

                

              

            	
               

            	
              d.

            	
              has
                been informed that the securities subscribed for have not been approved
                or
                disapproved by the SEC, or the Florida, Illinois, Iowa, Kansas, Missouri,
                Nebraska, South Dakota and Wisconsin Securities Departments or any
                other
                regulatory authority, nor has any regulatory authority passed upon
                the
                accuracy or adequacy of the Prospectus;

            

      	 	 	 	 	 

    

    
      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              e.

            	
              intends
                to acquire the units for his/her/its own account without a view to
                public
                distribution or resale and that he/she/it has no contract, undertaking,
                agreement or arrangement to sell or otherwise transfer or dispose
                of any
                units or any portion thereof to any other
                person;

            

      	 	 	 	 	 

    

    
      	
              
                ______
 

            	
              
                
                  ______

                

              

            	
               

            	
              f.

            	
              understands
                that there is no present market for Prairie Creek's membership units,
                that
                the membership units will not trade on an exchange or automatic quotation
                system, that no such market is expected to develop in the future
                and that
                there are significant restrictions on the transferability of the
                membership units; 

            

      	 	 	 	 	 

    

    
      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              g.

            	
              has
                been encouraged to seek the advice of his legal counsel and accountants
                or
                other financial advisers with respect to investor-specific tax and/or
                other considerations relating to the purchase and ownership of
                units;

            

      	 	 	 	 	 

    

    
      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              h.

            	
              has
                received a copy of the Prairie Creek Second Amended and Restated
                Operating
                Agreement, dated May 3, 2007, and understands that upon closing the
                escrow
                by Prairie Creek, the subscriber and the membership units will be
                bound by
                the provisions of the Second Amended and Restated Operating Agreement
                which contains, among other things, provisions that restrict the
                transfer
                of membership units; 

            

      	 	 	 	 	 

    

    
      	
              
                ______
 

            	
              
                
                  ______

                

              

            	
               

            	
              i.

            	
              understands
                that the units are subject to substantial restrictions on transfer
                under
                certain tax and securities laws along with restrictions in the Prairie
                Creek Second Amended and Restated Operating Agreement, and agrees
                that if
                the membership units or any part thereof are sold or distributed
                in the
                future, the subscriber shall sell or distribute them pursuant to
                the terms
                of the Amended and Restated Operating Agreement, and the requirements
                of
                the Securities Act of 1933, as amended, and applicable tax and securities
                laws; 

            

      	 	 	 	 	 

    

    
      	
              
                ______
 

            	
              
                
                  ______

                

              

            	
               

            	
              j.

            	
              meets
                the suitability test marked in Item E.5 above and is capable of bearing
                the economic risk of this investment, including the possible total
                loss of
                the investment;

            

      	 	 	 	 	 

    

    
      	
              
                ______
 

            	
              
                
                  ______

                

              

            	
               

            	
              k.

            	
              understands
                that Prairie Creek will place a restrictive legend on any certificate
                representing any unit containing substantially the following language
                as
                the same may be amended by the Directors of Prairie Creek in their
                sole
                discretion:

            

    

    

    THE
      TRANSFERABILITY OF THE MEMBERSHIP UNITS REPRESENTED BY THIS DOCUMENT IS
      RESTRICTED. SUCH UNITS MAY NOT BE SOLD, ASSIGNED, OR TRANSFERRED, NOR WILL
      ANY
      ASSIGNEE, VENDEE, TRANSFEREE OR ENDORSEE THEREOF BE RECOGNIZED AS HAVING
      ACQUIRED ANY SUCH UNITS FOR ANY PURPOSES, UNLESS AND TO THE EXTENT SUCH SALE,
      TRANSFER, HYPOTHECATION, OR ASSIGNMENT IS PERMITTED BY, AND IS COMPLETED IN
      STRICT ACCORDANCE WITH, THE TERMS AND CONDITIONS SET FORTH IN THE OPERATING
      AGREEMENT OF THE COMPANY, AS AMENDED FROM TIME TO TIME.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    THE
      UNITS
      REPRESENTED BY THIS DOCUMENT MAY NOT BE SOLD, OFFERED FOR SALE, OR TRANSFERRED
      IN ABSENCE OF AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED, AND UNDER APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL
      SATISFACTORY TO THE COMPANY THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION
      UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND UNDER APPLICABLE STATE
      SECURITIES LAWS.

       

    
      	
              
                ______

              

            	
              
                ______
 

            	 	l. 	understands that, to enforce the above legend, Prairie
              Creek may place a stop transfer order with its registrar and stock
              transfer agent (if any) covering all certificates representing any
              of the
              membership units;

      	 	 	 	 	 

      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              m.

            	
              may
                not transfer or assign this Subscription Agreement, or any of the
                subscriber's interest herein without the prior written consent of
                Prairie
                Creek; 

            

      	 	 	 	 	 

    

    
      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              n.

            	
              has
                written his, her, or its correct taxpayer identification number under
                Item
                E.2 on this Subscription Agreement; 

            

      	 	 	 	 	 

    

    
      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              o.

            	
              is
                not subject to back up withholding either because he, she or it has
                not
                been notified by the Internal Revenue Service ("IRS") that he, she
                or it
                is subject to backup withholding as a result of a failure to report
                all
                interest or dividends, or the IRS has notified him, her or it that
                he is
                no longer subject to backup withholding (Note this clause (p) should
                be
                crossed out if the backup withholding box in Item E.2 is checked);
                

            

      	 	 	 	 	 

    

    
      	
              
                ______

              

            	
              
                
                  ______

                

              

            	
               

            	
              p.

            	
              understands
                that execution of the attached Promissory Note and Security Agreement
                will
                allow Prairie Creek or its assigns to pursue the obligor for payment
                of
                the amount due thereon by any legal means, including, but not limited
                to,
                acquisition of a judgment against the obligor in the event that the
                subscriber defaults on that Promissory Note and Security Agreement;
                and

            

      	 	 	 	 	 

    

    
      	
              
                ______
 

            	
              
                
                  ______

                

              

            	
               

            	
              q.

            	
              acknowledges
                that Prairie Creek may retain possession of certificates representing
                subscriber’s units to perfect its security interest in those
                units.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

      Signature
        of Subscriber/Joint Subscriber:

    

     

    
      	
              Date:
                ________________________________________

            	 	 	 
	 	 	 	 
	
              Individuals:

            	 	 	Entities:
	 	 	 	 
	 	 	 	 
	
              
Name
              of Individual Subscriber (Please Print)	 	 	
              
Name
              of Entity (Please Print)
	 	 	 	 
	 	 	 	 
	
              
Signature
              of Individual	 	 	
              
Print
              Name and Title of Officer 
	 	 	 	 
	 	 	 	 
	
              
Name
              of Joint Individual Subscriber (Please Print)	 	 	
              
 Signature
              of Officer
	 	 	 	 
	 	 	 	 
	
              
Signature
              of Joint Individual Subscriber	 	 	 

    

     

    ACCEPTANCE
      OF SUBSCRIPTION BY PRAIRIE CREEK ETHANOL, LLC:

     

    Prairie
      Creek Ethanol, LLC hereby accepts Subscriber's subscription
      for _________
      units.

    

    Dated
      this ______
      day
      of  _______________,
      200_.

    
      	 	 	 
	
              PRAIRIE
                CREEK ETHANOL, LLC

            	
            
	 
 	 
 	 
 
	By: 	
            	 
	
              
                

              

            	
            
	Its:	 
	
              
                
 

            	 

    

        

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    PROMISSORY
      NOTE
      AND SECURITY AGREEMENT

    

    Date
      of
      Subscription Agreement: ___________________________________, 200__.

     

    $5,000
      per Unit

     

    Minimum
      Investment of 2 Units ($10,000); Units Sold in 1 Unit Increments Thereafter
      ($5,000 each)

    

    
      	 	 	
              Number
                of Units Subscribed

            
	 	 	
               

              Total
                Purchase Price ($5,000 per unit multiplied by number of units
                subscribed)

            
	
              (                                                
                )

            	 	
               

              Less
                Initial Payment (10% of Principal Amount)

            
	 	 	
               

              Principal
                Balance

            

    

    

    FOR
      VALUE
      RECEIVED, the undersigned hereby promises to pay to the order of Prairie Creek
      Ethanol, LLC, an Iowa limited liability company ("Prairie Creek"), at its
      principal office located at 415 N. Locust Street, PO Box 280, Goldfield, Iowa
      50542, or at such other place as required by Prairie Creek, the Principal
      Balance set forth above in one lump sum to be paid without interest within
      20
      days following the call of the Prairie Creek Board of Directors, as described
      in
      the Subscription Agreement. In the event the undersigned fails to timely make
      any payment owed, the entire balance of any amounts due under this full recourse
      Promissory Note and Security Agreement shall be immediately due and payable
      in
      full with interest at the rate of 12% per annum from the due date and any
      amounts previously paid in relation to the obligation evidenced by this
      Promissory Note and Security Agreement may be forfeited at the discretion of
      Prairie Creek. 

     

    The
      undersigned agrees to pay to Prairie Creek on demand, all costs and expenses
      incurred to collect any indebtedness evidenced by this Promissory Note and
      Security Agreement, including, without limitation, reasonable attorneys' fees.
      This Promissory Note and Security Agreement may not be modified orally and
      shall
      in all respects be governed by, construed, and enforced in accordance with
      the
      laws of the State of Iowa. 

     

    The
      provisions of this Promissory Note and Security Agreement shall inure to the
      benefit of Prairie Creek and its successors and assigns, which expressly
      reserves the right to pursue the undersigned for payment of the amount due
      thereon by any legal means in the event that the undersigned defaults on
      obligations provided in this Promissory Note and Security Agreement.

     

    The
      undersigned waives presentment, demand for payment, notice of dishonor, notice
      of protest, and all other notices or demands in connection with the delivery,
      acceptance, performance or default of this Promissory Note and Security
      Agreement. 

     

    The
      undersigned grants to Prairie Creek, and its successors and assigns (“Secured
      Party”), a purchase money security interest in all of the undersigned’s
      membership units of Prairie Creek now owned or hereafter acquired. This security
      interest is granted as non-exclusive collateral to secure payment and
      performance on the obligation owed Secured Party from the undersigned evidenced
      by this Promissory Note and Security Agreement. The undersigned further
      authorizes Secured Party to retain possession of certificates representing
      such
      membership units and to take any other actions necessary to perfect the security
      interest granted herein. 

    

    Dated:
      _____________,
      200__.

     

    
      	OBLIGOR/DEBTOR:	 	 	JOINT
              OBLIGOR/DEBTOR:
	 	 	 	 
	 	 	 	 
	
              
Printed
              or Typed Name of Obligor	 	 	
              
Printed
              or Typed Name of Joint Obligor
	 	 	 	 

    

     

    
      	By:	 	 	By:
	
              
                
(Signature)

            	 	 	
              
                
(Signature)

            
	 	 	 	 
	 	 	 	 
	
              
Officer
              Title if Obligor is an Entity	 	 	 
	 

              

            	 	 	 
	
              
Address
              of Obligor	 	 	 

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Exhibit
      A

    

    MEMBERS
      SIGNATURE PAGE

    

    ADDENDA
      

    TO
      THE 

    SECOND
      AMENDED AND RESTATED OPERATING AGREEMENT OF 

    PRAIRIE
      CREEK ETHANOL, LLC

     

    The
      undersigned does hereby represent and warrant that the undersigned, as a
      condition to becoming a Member of Prairie Creek Ethanol, LLC, has received
      a
      copy of the Second Amended and Restated Operating Agreement of Prairie Creek
      Ethanol, LLC (“Operating Agreement”), dated May 3, 2007, and, if applicable, all
      amendments and modifications thereto, and does hereby agree that the
      undersigned, along with the other parties to the Operating Agreement, shall
      be
      subject to and comply with all terms and conditions of said Operating Agreement
      in all respects as if the undersigned had executed said Operating Agreement
      on
      the original date thereof and that the undersigned is and shall be bound by
      all
      of the provisions of said Operating Agreement from and after the date of
      execution hereof.

     

    
      	Individuals	 	 	Entities
	 	 	 	 
	 	 	 	 
	
              
Name
              of Individual Member (Please Print)	 	 	
              
Name
              of Entity (Please Print)
	 	 	 	 
	 	 	 	 
	
              
Signature
              of Individual	 	 	
              
Print
              Name and Title of Officer
	 	 	 	 
	 	 	 	 
	
              
Name
              of Joint Individual Member (Please Print)	 	 	
              
Signature
              of Officer
	 	 	 	 
	 

              
Signature
              of Joint Individual Member	 	 	 
	 	 	 	 
	 	 	 	 
	
              Agreed
                and accepted on behalf of the 

              Company
                and its Members:

              

              PRAIRIE
                CREEK ETHANOL, LLC

            	 	 	 
	
               

            	 	 	 
	 	 	 	 
	
              BY:

              
                

              

            	
            	
            	
            
	
              ITS:Unassociated Document

    TERMINATION
      OF AGREEMENT AND RELEASES

    

    This
      AGREEMENT (this “Agreement”), dated as of May 18, 2007, is entered into between
      PROSTAGENICS LLC, a New York limited liability company (“Prostagenics”),
      on
      the one hand, and AVANTOGEN ONCOLOGY, INC., a Nevada corporation formerly known
      as Innovate Oncology, Inc. (“AOI”),
      on the
      other hand.

    

    Prostagenics
      and AOI are the parties, along with Gardant Pharmaceuticals, Inc., to the
      Assignment and Assumption Agreement effective March 31, 2005 (the “Assignment
      Agreement”),
      pursuant to which Prostagenics assigned to AOI all of Prostagenics’ rights and
      obligations in and under the NYMC License (as defined in the Assignment
      Agreement) granting Prostagenics an exclusive license covering certain rights
      relating to the use of 1-nitro-9-alkylamino acridine derivatives and
      1-nitroacridine/tumor inhibitor compositions for the treatment of cancer, along
      with certain Prostagenics Confidential Information and agreements with
      consultants related to such rights, and AOI accepted such assignments and
      assumed such obligations.

    

    Prostagenics,
      in accordance with the terms of the Assignment Agreement, has terminated the
      Assignment Agreement, with the result that all rights granted thereunder to,
      and
      all obligations assumed thereunder by, AOI shall revert to
      Prostagenics.

    

    AOI
      has
      accepted such termination of the Assignment Agreement and Prostagenics and
      AOI
      wish to further document such termination, in each case, pursuant to the terms
      and subject to the conditions of this Agreement. Capitalized terms used herein
      and not otherwise defined herein shall have the same meanings as assigned to
      such terms in the Assignment Agreement. 

    

    Accordingly,
      the parties hereto hereby agree as follows:

    

    1.  The
      Assignment Agreement has been terminated pursuant to Section 8.1.2 of the
      Assignment Agreement effective as of April 5, 2007 (the “Effective
      Date”).

    

    2.  As
      of the
      Effective Date, as between AOI and Prostagenics: (i) the rights assigned
      pursuant to Section 2.1 of the Assignment Agreement shall revert to
      Prostagenics; (ii) AOI shall have no right to recover any previously paid
      payment and shall remain obligated to pay any outstanding payments as may then
      have been required to be made by AOI to third parties pursuant to the Assignment
      Agreement; (iii) AOI
      shall
      reasonably cooperate with Prostagenics in relation to NYMC as may be necessary
      to effect such reversion of rights; (iv) Article 2 of the Assignment Agreement
      is hereby considered null and void; and (v) all rights, duties and obligations
      under the NYMC License shall revert to Prostagenics.

    

    3.  AOI
      shall
      promptly return to Prostagenics or destroy all Confidential Prostagenics
      Information and shall provide Prostagenics with written certification that
      such
      information has been returned or destroyed and that neither AOI nor any of
      its
      employees, affiliates or representatives are in possession of any Confidential
      Prostagenics Information. AOI shall not use or disclose any Confidential
      Prostagenics Information for a period of three (3) years from the Effective
      Date.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.  AOI
      represents and warrants that (i) AOI has not entered into or agreed to enter
      into a license, sublicense or assignment of its rights or any similar
      arrangement under the NYMC license; (ii) AOI is not in default (nor has there
      transpired an event which with notice or the lapse of time or both would be
      a
      default) under any court order, agreement, document, instrument, indenture
      or
      other obligation of AOI which affects or could affect any of the Assigned IP;
      and (iii) AOI has not granted any right to a third party to use or practice
      any
      rights under any of the Assigned IP.

    

    5.  [Intentionally
      deleted.]

    

    6.  Each
      party hereto (a “Releasing
      Party”),
      on
      behalf of itself, its predecessors, and each of its present and former officers,
      employees, directors, shareholders, parents, subsidiaries, alter egos,
      affiliates, partners, agents, attorneys, accountants, successors and assigns,
      hereby fully and forever releases and discharges each of the other parties,
      its
      predecessors, and each of its present and former officers, employees, directors,
      shareholders, parents, subsidiaries, alter egos, affiliates, partners, agents,
      attorneys, accountants, successors and assigns (each, a “Released
      Party”),
      from
      any and all claims, demands, liens, actions, agreements, suits, causes of
      action, obligations, controversies, debts, costs, attorneys’ fees, expenses,
      damages, judgments, orders and liabilities of whatever kind or nature, at law,
      in equity or otherwise, whether now known or suspected, which have existed
      or
      may have existed or which do exist or which hereafter can or may exist, based
      on
      any facts events or omissions occurring from any time on or prior to execution
      of this Agreement, which arise out of, concern, pertain or relate in any way
      to
      the Assignment Agreement, with the exception of (a) the obligations as stated
      in
      this Agreement and (b) claims of third parties that are known to the Released
      Party and not disclosed to the Releasing Party prior to execution of this
      Agreement (the “Released
      Claims”).

    

    Each
      Releasing Party acknowledges that there is a possibility that subsequent to
      the
      execution of this Agreement it will discover facts or incur or suffer claims
      which were unknown or unsuspected at the time this Agreement was executed and
      which, if known by it at that time, may have materially affected its decision
      to
      execute this Agreement and that, by reason of this Agreement, it is assuming
      any
      risk of such unknown facts and such unknown and unsuspected claims. Such party
      has been advised of the existence of Section 1542 of the California Civil Code
      (“Section
      1542”),
      which
      provides:

    

    A
      GENERAL
      RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT
      TO
      EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN
      BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
      DEBTOR.

    

    Notwithstanding
      the foregoing, this Agreement shall constitute a full release in accordance
      with
      its terms. Each Releasing Party knowingly and voluntarily waives the provisions
      of Section 1542, as well as any other statute, law or rule of similar effect.
      In
      connection with such waiver and relinquishment, such Releasing Party
      acknowledges that it is aware that it may hereafter discover claims presently
      unknown or unsuspected or facts in addition to or different from those which
      it
      now knows or believes to be true with respect to the matters released herein.
      Nevertheless, it is the intention of the Releasing Party, through this
      Agreement, fully and finally to settle and release all such matters, and all
      claims relative thereto, which do now exist or have existed between and among
      the parties hereto. The Releasing Party hereby acknowledges that it understands
      and acknowledges the significance and consequence of this release and of this
      specific waiver of Section 1542 and other such laws.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Each
      Released Party will forever refrain and forbear from commencing, instituting
      or
      prosecuting any lawsuit, action or other proceeding of any kind whatsoever,
      by
      way of action, defense, set-off, cross-complaint or counterclaim, against the
      Released Parties based on, arising out of or in connection with any Released
      Claim, except for an action commenced to enforce any rights conferred in this
      Agreement. In the event of any violation of its undertaking pursuant to this
      paragraph by a Releasing Party, this Agreement will be subject to termination
      at
      the election of the affected Released Party.

    

    7.  Each
      Releasing Party represents and warrants:

    

    (a)  that
      no
      other party, nor any agent or attorney of any other party, has made any promise,
      representation or warranty whatsoever, express or implied, not contained herein
      concerning the subject matter hereof, to induce it to execute this
      Agreement;

    

    (b)  that
      the
      person executing this Agreement in a representative capacity on its behalf
      is
      authorized and empowered to do so;

    

    (c)  that
      it
      has read this Agreement and understands the contents hereof and has made such
      an
      investigation of the facts pertinent to this Agreement and of all the matters
      pertaining hereto as it deems necessary; and

    

    (d)  that
      it
      has been represented by legal counsel of its own choice throughout all
      negotiations which preceded execution of this Agreement and has executed this
      Agreement with the consent and advice of such counsel.

    

    8.  Each
      Releasing Party further represents and warrants that it has not assigned or
      transferred any Released Claim that the Releasing Party has or may have against
      any Released Party, and agrees to indemnify and hold the Released Parties
      harmless from any liabilities, claims demands, damages, costs, expenses and
      attorneys’ fees incurred by any of them as a result of any person asserting any
      such assignment or transfer.

    

    9.  [Intentionally
      deleted.]

    

    10.  Nothing
      in this Agreement will be construed as an express or implied admission or
      acknowledgment by any party hereto of any liability to any other party or to
      any
      other person, all such liability being expressly denied. The parties hereto
      agree that this Agreement is the result of a compromise within the meaning
      of
      California Evidence Code Sections 1152 and 1154.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    11.  Each
      party hereto will upon the reasonable request by another party, without charge
      or other consideration, execute such additional documentation and cooperate
      in
      such further proceedings as may become necessary to effectuate the terms of
      this
      Agreement.

    

    12.  This
      Agreement constitutes the entire agreement and understanding of the parties
      hereto concerning the subject matter hereof and supercedes and replaces any
      and
      all prior negotiations, proposed agreements and agreements, oral or written,
      relating thereto. No covenants, agreements, representations or warranties of
      any
      kind whatsoever have been made by any party, except as specifically set forth
      in
      this Agreement.

    

    13.  Any
      and
      all questions with respect to the construction of this Agreement and the rights
      and liabilities of the parties hereto will be governed by the laws of the State
      of New York, and will be submitted and resolved by a court of competent
      jurisdiction sitting in New York City, New York.

    

    14.  This
      Agreement may be executed in any number of counterparts, and delivered via
      facsimile transmission, each of which will be deemed an original, but all of
      which together will constitute one and same instrument.

    

    15.  If
      any
      provision of this Agreement is adjudicated to be unenforceable or invalid for
      any reason, that part will be deemed to be severed from the balance of this
      Agreement, which will in no way be affected or impaired, unless the severed
      portion was adjudicated to be essential to the intended purpose of this
      Agreement, in which case, the party who was to receive the benefit of the
      severed portion has the option to void this Agreement.

    

    16.  A
      party
      hereto, including any Released Party, to the extent such party is the prevailing
      party in such action, will be entitled to recover its reasonable attorneys’
fees, court costs and other fees, costs and disbursements in any action brought
      to enforce or interpret this Agreement.

    

    17.  This
      Agreement will bind and inure to the benefit of the parties hereto, including
      Released Parties, and their respective successors, assigns, heirs,
      administrators, executors and conservators.

    

    18.  This
      Agreement will be construed neutrally, and not applied more strictly against
      one
      party than another.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the parties hereto have hereunto set their hands, all as of
      the
      date first hereinabove written.

    

    
      	
              PROSTAGENICS
                LLC

               

               

              By:
                /s/ Robert J. Ianuale

              Robert
                J. Ianuale

              President

            	
              AVANTOGEN
                ONCOLOGY, INC.

               

               

              By:
                /s/ Angela Bronow Davanzo

              Angela
                Bronow Davanzo

              Chief
                Financial Officer

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