Document:

ASSIGNMENT
      AND ASSUMPTION AGREEMENT

     

    THIS
      ASSIGNMENT AND ASSUMPTION AGREEMENT
      is made
      and effective the 31st
      day of
      May, 2006 by and between Gold-Eagle Cooperative (Gold-Eagle) (the Assignor)
      and
      Prairie Creek Ethanol, LLC (Assignee).

    

    RECITAL:

    

    The
      Assignor, Gold-Eagle is desirous of Assigning and Transferring to the
 Assignee,
      Prairie Creek Ethanol, LLC an Option Agreement for the purchase of  real
      estate In Kossuth County, Iowa. 

    

    NOW,
      THEREFORE, in consideration of the Recitals and the mutual agreement set forth
      in this Agreement, and in further consideration for the Option Agreement
Assignor
      and Assignee agree as follows:

    

    1. Assignment
      of Option Agreement.
      Gold-Eagle hereby sells, assigns, transfers and conveys to Assignee all of
      Gold-Eagle’s as right, title and interest in, to and arising out of an Option
      Agreement dated May 31, 2006 to purchase real estate from Rasmussen Family,
      LLC,
      a copy of which is marked Exhibit “A” attached hereto and made a part
      hereof.

    

    2. Assumption
      of Option Agreement.
      Assignee
      hereby accepts the Assignment of the Option Agreement to purchase real estate
      from Rasmussen Family, LLC in Kossuth County, Iowa and hereby assumes and agrees
      to perform all of Gold-Eagle’s obligations under the Option Agreement that arise
      or relate to the date of this Agreement together with the obligations that
      arise
      subsequent to date of this Agreement and which relate to the period subsequent
      to the date of this Agreement. In consideration for this Assignment Assignee
      further agrees that it shall reimburse Gold-Eagle for all expenses, costs,
      fees,
      engineering and any other related expenses advanced by Gold-Eagle in obtaining
      and or exercising the Option above described. 

    

    3. Legal
      Description.
      The real
      estate which is the subject matter of the Option Agreement to be assigned to
      Assignee is the following described property to wit:

    

    That
      part
      of the Northwest Quarter (NW 1⁄4) and the Northwest Quarter (NW 1⁄4) of the
      Southwest Quarter (SW 1⁄4) lying North of Railroad Right-of-way and the Northwest
      Quarter (NW 1⁄4) of the Northeast Quarter (NE 1⁄4) all in Section Thirty-six (36),
      Township Ninety-six (96) North, Range Twenty-seven (27) West of the
      5th
      P.M.,
      Kossuth County, Iowa, EXCEPT public highways,

    

    AND

    

      The
        South
        Half of the Northwest Quarter (S 1⁄2 NW 1⁄4) of Section Thirty-five (35), Township
        Ninety-five (95) North, Range Twenty-seven (27), West of the 5th
        P.M.,
        Kossuth County, Iowa AND the North Half of the Northwest Quarter (N 1⁄2 NW 1⁄4) of
        Section Thirty-five (35), Township Ninety-five (95) North, Range Twenty-seven
        (27), West of the 5th
        P.M.,
        Kossuth County, Iowa EXCEPT a tract described as: commencing 2 rods South
        and 2
        rods East of the Northwest corner of said Section 35, thence South 4 rods,
        thence East 66 rods, thence North 4 rods, thence West 66 rods to point of
        beginning,

    

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    4. Indemnification:
      Assignee
      shall defend, indemnify and hold Gold-Eagle harmless from and against any claim,
      demand, loss, liability, damage, cost or expense including but not limited
      to
      attorney’s fess, arising in connection with or resulting from any breach of the
      Option Agreement, misrepresentation or non-fulfillment of any agreement on
      the
      part of Assignee under this agreement.

    

    5.  Amendment;
      Waiver.
      No
      amendment, modification, supplement, termination or waiver of or to any
      provision of this Agreement, or consent to any departure therefrom, shall be
      effective unless the same shall be in writing and signed on behalf of the party
      or parties, as applicable. Any amendment modification or supplement of or to
      any
      provision of this Agreement, any waiver of any provision of this Agreement,
      and
      any departure from the terms of any provision of this Agreement shall be
      effective only in the specific instance and for the specific purpose for which
      made or given. 

    

    6. Successor
      and Assigns.
      This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successor and assigns. 

    

    7. Counterparts.
      This
      Agreements may be executed in any number of counterparts (including by facsimile
      transmission), each of which shall be deemed an original shall be taken together
      shall be deemed to constitute one and the same Agreement. 

    

    8. Entire
      Agreement.
      This
      Agreement and the Option Agreement constitute the entire agreement between
      the
      parties hereto pertaining to the subject matters hereof and supersede all
      negotiations preliminary agreement and all prior or contemporaneous discussions
      and understandings of the parties hereto with respect to the subject matter
      hereof.

    

    9. Effective
      Date.
      This
      agreement is effective May 31, 2006

     

    In
      witness whereof, the parties have executed this Agreement as of the date first
      above written.

    
      	 	 	 	 
	
               “ASSIGNOR”

            	 	 	
                “ASSIGNEE”

            
	 	 	 	 
	
               GOLD-EAGLE
                COOPERATIVE

            	 	 	
              PRAIRIE
                CREEK ETHANOL, LLC

            
	 	 	 	 
	 	 	 	 
	By: /s/ Mark
              Wigans	 	 	By: /s/ Clay Hansen
	
              
                

              

               
                

            	 	 	
              
                

              

               
                

            

    

    
 

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Exhibit
      “A”

    

    OPTION
      AGREEMENT

    

    Option
      agreement made 25th 
      day of
      May, 2006, between Rasmussen
      Family, LLC,
      of 160
      Running Spring Drive, Palm Desert, California (the "Seller"), and Gold-Eagle
      Cooperative,
      of 415
      N Locust Street, PO Box 280, Goldfield, Iowa (the "Buyer").

    

    SECTION
      ONE

    

    GRANT
      OF OPTION

    

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

    

    That
      part
      of the Northwest Quarter (NW 1⁄4) and the Northwest Quarter (NW 1⁄4) of the
      Southwest Quarter (SW 1⁄4) lying North of Railroad Right-of-way and the Northwest
      Quarter (NW 1⁄4) of the Northeast Quarter (NE 1⁄4) all in Section Thirty-six (36),
      Township Ninety-six (96) North, Range Twenty-seven (27) West of the
      5th
      P.M.,
      Kossuth County, Iowa, EXCEPT public highways,

    

    AND

    

    The
      South
      Half of the Northwest Quarter (S 1⁄2 NW 1⁄4) of Section Thirty-five (35), Township
      Ninety-five (95) North, Range Twenty-seven (27), West of the 5th
      P.M.,
      Kossuth County, Iowa AND the North Half of the Northwest Quarter (N 1⁄2 NW 1⁄4) of
      Section Thirty-five (35), Township Ninety-five (95) North, Range Twenty-seven
      (27), West of the 5th
      P.M.,
      Kossuth County, Iowa, EXCEPT a tract described as: commencing 2 rods South
      and 2
      rods East of the Northwest corner of said Section 35, thence South 4 rods,
      thence East 66 rods, thence North 4 rods, thence West 66 rods to point of
      beginning,

    

    (the
      "Property").

    
       

    

    
      	 	6-13-06 MSW	5/31/06 JDR

    

     

    B.
      All
      deposits and payments made by the Buyer to the Seller pursuant to this Agreement
      prior to the Closing (either directly or through an escrow agent, if any) shall
      be applied towards the Purchase Price of the Property subject to Section
      2D.
      The
      Seller fully agrees and acknowledges that the consideration given by the Buyer
      constitutes legal, adequate, and valuable consideration for the purposes of
      this
      Agreement.

    

    C.
      The
      total purchase price for the Property shall be $1,500,000.00 for 200 acres,
      more
      or less. The consideration for the purchase option shall be $45,000.00 which
      will be paid by the Buyer upon execution of this agreement. The remaining
      consideration of the Purchase Price shall be paid by the Buyer at
      closing.

    

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

     

    SECTION
      TWO

    

    OPTION
      TERMS

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

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

    

    B.
      The
      Option consideration shall be delivered to the Seller. 

    

    C.
      If the
      Buyer exercises this Option, the Option consideration shall be applied towards
      the Purchase Price of the Property.

    

    D.
      The
      Buyer shall have the right to exercise this Option for a period of six months
      from execution of this agreement on the effective date. The Buyer may either
      exercise such option or extend the option for an additional six month period.
      In
      order to extend the Option for an additional six month period, Buyer shall
      pay
      an additional $45,000.00 to Seller. Buyer shall then have the right to exercise
      such Option during this six month period of time or renew and extend the Option
      an additional six months. Again, the Seller shall retain the $45,000.00 for
      each
      six month period for which the Option is not exercised. Buyer can continue
      to
      have additional six month Option periods under the same terms as above as long
      as the Buyer pays $45,000.00 for each additional period. The Buyer shall
      exercise this Option by giving written notice by Registered Mail to the Seller
      at the address indicated above. The date that Seller receives the Notice, shall
      be known as the “Date of Commencement”. 

    

    E.
      It is
      understood and agreed that time is of essence as to the payment of the Purchase
      Price under this provision. If the Buyer does not exercise the terms of this
      Option by the ending date as specified above, then the right and option set
      forth herein shall immediately terminate and all deposits paid shall be kept
      by
      the Seller.

    

    SECTION
      THREE

    

    PROMISES
      OF PARTIES FOLLOWING EXERCISE OF OPTION

    

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

    

    A.
      Representations and Warranties

     

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

    

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

    

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

    

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

    

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

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

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

    

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

    

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

    

    B.
      Conditions Precedent

     

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

    

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

    

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

    

    3.
      The
      Property shall be vacant and any tenant relocation costs shall be incurred
      by
      the Seller. Seller shall be responsible to deliver possession free of any
      claims, leases, management agreements or such other possessory rights.

    

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

    

    C.
      Clear
      Title

    

    1.
      Within
      90 days of the execution of this Agreement by the Seller, the Seller,
      at
      their expense, shall obtain an abstract of title to the Real Estate continued
      through the date of acceptance of this offer, and deliver it to Buyers for
      examination. It shall show merchantable title in Sellers in conformity with
      this
      agreement, Iowa law and Title Standards of the Iowa State Bar Association.
      The
      abstract shall become the property of the Buyers when the purchase price is
      paid
      in full. Sellers shall pay the costs of any additional abstracting and title
      work due to any act or omission of Sellers, including transfers by or the death
      of Sellers or their assignees. Seller shall also provide any
      existing surveys for the Property that are in the Seller's possession or which
      the Seller might obtain possession of by reasonable efforts. The Buyer shall
      return to these items to the Seller if the closing never occurs and this
      Contract is terminated. 

    

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

    

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

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    D.
      Closing

    

    1.
      The
      closing date shall be set by mutual agreement after Buyer notifies Seller that
      it will exercise its option, which date shall be not less than 60 days and
      no
      later than 90 days after the exercise of the purchase option by the buyer,
      unless extended by other provisions of this Contract or by the mutual consent
      of
      both parties. The closing shall be held in Goldfield, Wright County, Iowa,
      at
      the office of the attorney or other closing agent designated by the
      Buyer.

    

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

    

    3.
      The
      Seller shall pay the following closing costs: state documentary stamps and
      surtax charges, the cost of recording any corrective instruments and the title
      update charges necessary for the title insurance. The Buyer shall pay the cost
      of recording the deed, title insurance premiums and the cost for recording
      the
      purchase money mortgage (if any).

    

    E.
      Restrictions; Easements; Limitations

     

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

    

    F.
      Survey

     

    The
      Buyer, at the Buyer's expense, within 120 days following the Date of Notice
      of
      Exercising its Option, may have the Property surveyed and certified by a
      registered Iowa surveyor. If the survey shows any encroachment on the Property
      or that improvements intended to be located on the Property in fact encroach
      on
      setback lines, easements, lands of others, or violate any restrictions,
      Agreement covenants, or applicable governmental regulations, the same shall
      be
      treated as a title defect.

    

    G.
      Liens

     

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

    

    H.
      Prorations

     

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

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    I.
      Special Assessment Liens

     

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

    

    J.
      Attorney's Fees; Costs

     

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

    

    K.
      Contract Not Recordable; Persons Bound; Notice

     

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

    

    L.
      Occupancy

     

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

    

    M.
      Conveyance

     

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

    

    N.
      Other
      Agreements

     

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

    

    O.
      Typewritten or Handwritten Provisions

     

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

     

    P.
Repayment
      of Crop Expenses

     

    Regardless
      of the closing date and the date upon which Buyer would take possession of
      the
      land, Buyer agrees to reimburse the Seller for any and all crop expenses that
      Seller has incurred prior to the exercising of the Option and the Closing.
      These
      expenses would include but not be limited to all payments made to individuals
      or
      corporations to prepare the ground for planting, the cost of all seed and
      machine hire to plant it, the cost of all chemicals, herbicides and fertilizer
      and the cost to have it applied and the premiums paid for any crop insurance.
      Buyer may reasonably request any invoice for any of these expenses if Buyer
      so
      desires.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Q.
      Access to Land

     

    Buyer
      would be allowed access to the land for all legitimate purposes once the Option
      Agreement is signed and the $45,000.00 Option payment has been made. The Buyer
      would have the right to conduct all tests that it felt was reasonably necessary.
      However, Buyer agrees to do so with the minimal amount of interference with
      the
      farming operation and any damage to any growing crop. Further, the Buyer would
      be responsible for any damage done to any tile or drainage or other assets
      of
      Seller’s land which occurred during the testing.

     

    R.
      Indemnification

     

    Buyer
      will defend, indemnify and hold the Sellers harmless from any and all liability,
      demands and claims including attorneys fees which might arise from employees
      or
      representatives of the Buyer while on the real estate which is subject to this
      Option.

     

    S.
      Tax Free Exchange

     

    Seller
      shall have the right to make this sale part of a tax-free exchange pursuant
      to
      Section 1031 of the Internal Revenue Code. The Buyer will reasonably cooperate
      in effectuating any tax-free exchange arranged by Seller.

    

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

    

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

    

    Dated: 5/31/06.

    
      	 	 	 	 
	
              BUYER

            	 	 	
              SELLER

            
	 	 	 	 
	
              GOLD-EAGLE
                COOPERATIVE

            	 	 	
              RASMUSSEN
                FAMILY, LLC

            
	 	 	 	 
	 	 	 	 
	By: /s/ Mark
              Wigans	 	 	By: /s/ John
              D.
              Rasmussen
	
              
                
Mark
                Wigans

            	 	 	
              
                

              

              Its:
                Asset Manager

            
	
              Its:
                President 

            	 	 	
              
                

              

              Member

            

    

     

     

    
      
        
        

      

      
        8Exhibit
        4.3

       

    

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

     

    XETHANOL
      CORPORATION

     

    SERIES
      A WARRANT

     

    
      	Warrant No. A1	 	
              Original
                Issue Date: April 13,
                2006

            

    

     

    Xethanol
      Corporation, a Delaware corporation (the “Company”),
      hereby
      certifies that, for value received, Goldman, Sachs & Co. or its registered
      assigns (the “Holder”),
      is
      entitled to purchase from the Company up to a total of 177,7781 
      shares
      of Common Stock (each such share, a “Warrant
      Share”
      and all
      such shares, the “Warrant
      Shares”),
      at any
      time and from time to time from and after the Original Issue Date and through
      and including April 12, 2009 (the “Expiration
      Date”),
      and
      subject to the following terms and conditions:

     

    1.  Definitions.
      As used
      in this Warrant, the following terms shall have the respective definitions
      set
      forth in this Section 1. Capitalized terms that are used and not defined in
      this
      Warrant that are defined in the Purchase Agreement (as defined below) shall
      have
      the respective definitions set forth in the Purchase Agreement.

     

    “Business
      Day”
      means
      any day except Saturday, Sunday and any day that is a federal legal holiday
      in
      the United States or a day on which banking institutions in the State of New
      York are authorized or required by law or other government action to
      close.

     

    
      
        
1 A
        number
        of shares as equals 20% of the Shares issuable to such investor at the Closing
        under the Purchase Agreement.

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Common
      Stock”
      means
      the common stock of the Company, par value $.001 per share, and any securities
      into which such common stock may hereafter be reclassified. 

     

    “Exercise
      Price” means
      $4.50, subject to adjustment in accordance with Section 9.

     

    “Fundamental
      Transaction”
      means
      any of the following: (1) the Company effects any merger or consolidation of
      the
      Company with or into another Person, (2) the Company effects any sale of all
      or
      substantially all of its assets in one or a series of related transactions,
      (3)
      any tender offer or exchange offer (whether by the Company or another Person)
      is
      completed pursuant to which holders of Common Stock are permitted to tender
      or
      exchange their shares for other securities, cash or property, or (4) the Company
      effects any reclassification of the Common Stock or any compulsory share
      exchange pursuant to which the Common Stock is effectively converted into or
      exchanged for other securities, cash or property.

     

    “Original
      Issue Date”
      means
      the Original Issue Date first set forth on the first page of this
      Warrant.

     

    “New
      York Courts”
      means
      the state and federal courts sitting in the City of New York, Borough of
      Manhattan.

     

    “Purchase
      Agreement”
      means
      the Securities Purchase Agreement, dated April [ ], 2006, to which the Company
      and the original Holder are parties.

     

    “Trading
      Day”
      means
      (i) a day on which the Common Stock is traded on a Trading Market (other than
      the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading
      Market (other than the OTC Bulletin Board), a day on which the Common Stock
      is
      traded in the over-the-counter market, as reported by the OTC Bulletin Board,
      or
      (iii) if the Common Stock is not quoted on any Trading Market, a day on which
      the Common Stock is quoted in the over-the-counter market as reported by the
      Pink Sheets, LLC (or any similar organization or agency succeeding to its
      functions of reporting prices); provided, that in the event that the Common
      Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then
      Trading Day shall mean a Business Day.

     

    2.  Registration
      of Warrant.
      The
      Company shall register this Warrant upon records to be maintained by the Company
      for that purpose (the “Warrant
      Register”),
      in the
      name of the record Holder hereof from time to time. The Company may deem and
      treat the registered Holder of this Warrant as the absolute owner hereof for
      the
      purpose of any exercise hereof or any distribution to the Holder, and for all
      other purposes, absent actual notice to the contrary.

     

    3.  Registration
      of Transfers.
      The
      Company shall register the transfer of any portion of this Warrant in the
      Warrant Register, upon surrender of this Warrant, with the Form of Assignment
      attached hereto duly completed and signed, to the Company at its address
      specified herein. Upon any such registration or transfer, a new Warrant to
      purchase Common Stock, in substantially the form of this Warrant (any such
      new
      Warrant, a “New
      Warrant”),
      evidencing the portion of this Warrant so transferred shall be issued to the
      transferee and a New Warrant evidencing the remaining portion of this Warrant
      not so transferred, if any, shall be issued to the transferring Holder. The
      acceptance of the New Warrant by the transferee thereof shall be deemed the
      acceptance by such transferee of all of the rights and obligations of a holder
      of a Warrant. 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4.  Exercise
      and Duration of Warrants.
      This
      Warrant shall be exercisable by the registered Holder at any time and from
      time
      to time on or after the Original Issue Date through and including the Expiration
      Date. At 6:30 p.m., New York City time on the Expiration Date, the portion
      of
      this Warrant not exercised prior thereto shall be and become void and of no
      value. The Company may not call or redeem any portion of this Warrant without
      the prior written consent of the affected Holder.

     

    5.  Delivery
      of Warrant Shares.

     

    (a)  To
      effect
      exercises hereunder, the Holder shall not be required to physically surrender
      this Warrant unless the aggregate Warrant Shares represented by this Warrant
      is
      being exercised. Upon delivery of the Exercise Notice (in the form attached
      hereto) to the Company (with the attached Warrant Shares Exercise Log) at its
      address for notice set forth herein and upon payment of the Exercise Price
      multiplied by the number of Warrant Shares that the Holder intends to purchase
      hereunder, the Company shall promptly (but in no event later than three Trading
      Days after the Date of Exercise (as defined herein)) issue and deliver to the
      Holder, a certificate for the Warrant Shares issuable upon such exercise, which,
      unless otherwise required by the Purchase Agreement, shall be free of
      restrictive legends. The Company shall, upon request of the Holder and
      subsequent to the date on which a registration statement covering the resale
      of
      the Warrant Shares has been declared effective by the Securities and Exchange
      Commission (if any, and provided that such registration statement is then
      effective), use its reasonable best efforts to deliver Warrant Shares hereunder
      electronically through The Depository Trust Company or another established
      clearing corporation performing similar functions, if available, provided,
      that,
      the Company may, but will not be required to change its transfer agent if its
      current transfer agent cannot deliver Warrant Shares electronically through
      The
      Depository Trust Company. A “Date
      of Exercise”
      means
      the date on which the Holder shall have delivered to the Company: (i) the
      Exercise Notice (with the Warrant Exercise Log attached to it), appropriately
      completed and duly signed and (ii) if such Holder is not utilizing the cashless
      exercise provisions set forth in this Warrant, payment of the Exercise Price
      for
      the number of Warrant Shares so indicated by the Holder to be
      purchased.

     

    (b)  If
      by the
      third Trading Day after a Date of Exercise the Company fails to deliver the
      required number of Warrant Shares in the manner required pursuant to Section
      5(a), then the Holder will have the right to rescind such exercise.

     

    (c)  If
      by the
      third Trading Day after a Date of Exercise the Company fails to deliver the
      required number of Warrant Shares in the manner required pursuant to Section
      5(a), and if after such third Trading Day and prior to the receipt of such
      Warrant Shares, the Holder purchases (in an open market transaction) shares
      of
      Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant
      Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
      then
      the Company shall (1) pay in cash to the Holder the amount by which (x) the
      Holder’s total purchase price (including brokerage commissions, if any) for the
      shares of Common Stock so purchased exceeds (y) the amount obtained by
      multiplying (A) the number of Warrant Shares that the Company was required
      to
      deliver to the Holder in connection with the exercise at issue by (B) the
      published closing price of the Common Stock on the Date of Exercise and (2)
      at
      the option of the Holder, either reinstate the portion of the Warrant and
      equivalent number of Warrant Shares for which such exercise was not honored
      or
      deliver to the Holder the number of shares of Common Stock that would have
      been
      issued had the Company timely complied with its exercise and delivery
      obligations hereunder. The Holder shall provide the Company written notice
      indicating the amounts payable to the Holder in respect of the Buy-In.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (d)  The
      Company’s obligations to issue and deliver Warrant Shares in accordance with the
      terms hereof are absolute and unconditional, irrespective of any action or
      inaction by the Holder to enforce the same, any waiver or consent with respect
      to any provision hereof, the recovery of any judgment against any Person or
      any
      action to enforce the same, or any setoff, counterclaim, recoupment, limitation
      or termination, or any breach or alleged breach by the Holder or any other
      Person of any obligation to the Company or any violation or alleged violation
      of
      law by the Holder or any other Person, and irrespective of any other
      circumstance which might otherwise limit such obligation of the Company to
      the
      Holder in connection with the issuance of Warrant Shares. Nothing herein shall
      limit a Holder’s right to pursue any other remedies available to it hereunder,
      at law or in equity including, without limitation, a decree of specific
      performance and/or injunctive relief with respect to the Company’s failure to
      timely deliver certificates representing Warrant Shares upon exercise of the
      Warrant as required pursuant to the terms hereof.

     

    6.  Charges,
      Taxes and Expenses.
      Issuance and delivery of Warrant Shares upon exercise of this Warrant shall
      be
      made without charge to the Holder for any issue or transfer tax, withholding
      tax, transfer agent fee or other incidental tax or expense in respect of the
      issuance of such certificates, all of which taxes and expenses shall be paid
      by
      the Company; provided, however, that the Company shall not be required to pay
      any tax which may be payable in respect of any transfer involved in the
      registration of any certificates for Warrant Shares or Warrants in a name other
      than that of the Holder. The Holder shall be responsible for all other tax
      liability that may arise as a result of holding or transferring this Warrant
      or
      receiving Warrant Shares upon exercise hereof.

     

    7.  Replacement
      of Warrant.
      If this
      Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or
      cause to be issued in exchange and substitution for and upon cancellation
      hereof, or in lieu of and substitution for this Warrant, a New Warrant, but
      only
      upon receipt of evidence reasonably satisfactory to the Company of such loss,
      theft or destruction and customary and reasonable indemnity (which shall not
      include a surety bond), if requested. Applicants for a New Warrant under such
      circumstances shall also comply with such other reasonable regulations and
      procedures and pay such other reasonable third-party costs as the Company may
      prescribe. If a New Warrant is requested as a result of a mutilation of this
      Warrant, then the Holder shall deliver such mutilated Warrant to the Company
      as
      a condition precedent to the Company’s obligation to issue the New
      Warrant.

     

    8.  Reservation
      of Warrant Shares.
      The
      Company covenants that it will at all times reserve and keep available out
      of
      the aggregate of its authorized but unissued and otherwise unreserved Common
      Stock, solely for the purpose of enabling it to issue Warrant Shares upon
      exercise of this Warrant as herein provided, the number of Warrant Shares which
      are then issuable and deliverable upon the exercise of this entire Warrant,
      free
      from preemptive rights or any other contingent purchase rights of Persons other
      than the Holder (taking into account the adjustments and restrictions of Section
      9). The Company covenants that all Warrant Shares so issuable and deliverable
      shall, upon issuance and the payment of the applicable Exercise Price in
      accordance with the terms hereof, be duly and validly authorized, issued and
      fully paid and nonassessable.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    9.  Certain
      Adjustments.
      The
      Exercise Price and number of Warrant Shares issuable upon exercise of this
      Warrant are subject to adjustment from time to time as set forth in this Section
      9.

     

    (a)  Stock
      Dividends and Splits.
      If the
      Company, at any time while this Warrant is outstanding, (i) pays a stock
      dividend on its Common Stock or otherwise makes a distribution on any class
      of
      capital stock that is payable in shares of Common Stock, (ii) subdivides
      outstanding shares of Common Stock into a larger number of shares, or (iii)
      combines outstanding shares of Common Stock into a smaller number of shares,
      then in each such case the Exercise Price shall be multiplied by a fraction
      of
      which the numerator shall be the number of shares of Common Stock outstanding
      immediately before such event and of which the denominator shall be the number
      of shares of Common Stock outstanding immediately after such event. Any
      adjustment made pursuant to clause (i) of this paragraph shall become effective
      immediately after the record date for the determination of stockholders entitled
      to receive such dividend or distribution, and any adjustment pursuant to clause
      (ii) or (iii) of this paragraph shall become effective immediately after the
      effective date of such subdivision or combination.

     

    (b)  Fundamental
      Transactions.
      If at
      any time while this Warrant is outstanding there is a Fundamental Transaction,
      the Company shall provide each Holder with notice thereof in accordance with
      Section 9(f) herein. The Holder shall have until 5:30 p.m. on the tenth calendar
      day after receipt of any such notice (“Notice
      Date”)
      to
      exercise any remaining portion of this Warrant. Any portion of this Warrant
      which has not been exercised by 5:30 p.m. on the Notice Date shall be cancelled.
      The Company covenants to honor any Exercise Notice delivered by 5:30 p.m. on
      the
      Notice Date. If any Fundamental Transaction in respect of which such a notice
      shall have been given is not consummated, then such notice shall be deemed
      to
      have been of no force or effect.

     

    (c)  Number
      of Warrant Shares.
      Simultaneously with any adjustment to the Exercise Price pursuant to this
      Section 9, the number of Warrant Shares that may be purchased upon exercise
      of
      this Warrant shall be increased or decreased proportionately, so that after
      such
      adjustment the aggregate Exercise Price payable hereunder for the adjusted
      number of Warrant Shares shall be the same as the aggregate Exercise Price
      in
      effect immediately prior to such adjustment.

     

    (d)  Calculations.
      All
      calculations under this Section 9 shall be made to the nearest cent or the
      nearest 1/100th
      of a
      share, as applicable. The number of shares of Common Stock outstanding at any
      given time shall not include shares owned or held by or for the account of
      the
      Company, and the disposition of any such shares shall be considered an issue
      or
      sale of Common Stock.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (e)  Notice
      of Adjustments.
      Upon
      the occurrence of each adjustment pursuant to this Section 9, the Company at
      its
      expense will promptly compute such adjustment in accordance with the terms
      of
      this Warrant and prepare a certificate setting forth such adjustment, including
      a statement of the adjusted Exercise Price and adjusted number or type of
      Warrant Shares or other securities issuable upon exercise of this Warrant (as
      applicable), describing the transactions giving rise to such adjustments and
      showing in detail the facts upon which such adjustment is based. Upon written
      request, the Company will promptly deliver a copy of each such certificate
      to
      the Holder and to the Company’s Transfer Agent.

     

    (f)  Notice
      of Corporate Events.
      If the
      Company (i) declares a dividend or any other distribution of cash, securities
      or
      other property in respect of its Common Stock, including without limitation
      any
      granting of rights or warrants to subscribe for or purchase any capital stock
      of
      the Company or any Subsidiary, (ii) authorizes or approves, enters into any
      agreement contemplating or solicits stockholder approval for any Fundamental
      Transaction or (iii) authorizes the voluntary dissolution, liquidation or
      winding up of the affairs of the Company, then the Company shall deliver to
      the
      Holder a notice describing the material terms and conditions of such transaction
      (but only to the extent such disclosure would not result in the dissemination
      of
      material, non-public information to the Holder) at least 10 calendar days prior
      to the applicable record or effective date on which a Person would need to
      hold
      Common Stock in order to participate in or vote with respect to such
      transaction, and the Company will take all steps reasonably necessary in order
      to insure that the Holder is given the practical opportunity to exercise this
      Warrant prior to such time so as to participate in or vote with respect to
      such
      transaction; provided, however, that the failure to deliver such notice or
      any
      defect therein shall not affect the validity of the corporate action required
      to
      be described in such notice.

     

    10.  Payment
      of Exercise Price.
      In
      connection with each exercise of this Warrant, the
      Holder
      may pay the Exercise Price in immediately available funds.

     

    11.  Limitations
      on Exercise.
      Notwithstanding anything to the contrary contained herein, the number of Warrant
      Shares that may be acquired by the Holder upon any exercise of this Warrant
      (or
      otherwise in respect hereof) shall be limited to the extent necessary to insure
      that, following such exercise (or other issuance), the total number of shares
      of
      Common Stock then beneficially owned by such Holder and its Affiliates and
      any
      other Persons whose beneficial ownership of Common Stock would be aggregated
      with the Holder’s for purposes of Section 13(d) of the Exchange Act, does not
      exceed 9.999% of the total number of issued and outstanding shares of Common
      Stock (including for such purpose the shares of Common Stock issuable upon
      such
      exercise). For such purposes, beneficial ownership shall be determined in
      accordance with Section 13(d) of the Exchange Act and the rules and regulations
      promulgated thereunder. Each delivery of an Exercise Notice hereunder will
      include a representation by the Holder that issuance of the full number of
      Warrant Shares requested on such Exercise Notice is permitted under this
      paragraph and the Company agrees that such determination shall be binding upon
      the Company for purposes of permitting such exercise. This provision shall
      not
      restrict the number of shares of Common Stock which a Holder may receive or
      beneficially own in order to determine the amount of securities or other
      consideration that such Holder may receive in the event of a Fundamental
      Transaction as contemplated in Section 9 of this Warrant. This restriction
      may
      not be waived, and notwithstanding anything to the contrary in any Transaction
      Document, may not be amended by agreement of the parties.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    12.  No
      Fractional Shares.
      No
      fractional shares of Warrant Shares will be issued in connection with any
      exercise of this Warrant. In lieu of any fractional shares which would,
      otherwise be issuable, the Company shall pay cash equal to the product of such
      fraction multiplied by the closing price of one Warrant Share as reported by
      the
      applicable Trading Market on the date of exercise.

     

    13.  Notices.
      Any and
      all notices or other communications or deliveries hereunder (including, without
      limitation, any Exercise Notice) shall be in writing and shall be deemed given
      and effective on the earliest of (i) the date of transmission, if such notice
      or
      communication is delivered via facsimile at the facsimile number specified
      in
      this Section prior to 6:30 p.m. (New York City time) on a Trading Day, (ii)
      the
      next Trading Day after the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile number specified in this Section
      on
      a day that is not a Trading Day or later than 6:30 p.m. (New York City time)
      on
      any Trading Day, (iii) the Trading Day following the date of mailing, if sent
      by
      nationally recognized overnight courier service, or (iv) upon actual receipt
      by
      the party to whom such notice is required to be given. The addresses for such
      communications shall be: (i) if to the Company, to Xethanol Corporation, Attn:
      President, or to Facsimile No.: (646) 723-4001 (or such other address as the
      Company shall indicate in writing in accordance with this Section), or (ii)
      if
      to the Holder, to the address or facsimile number appearing on the Warrant
      Register or such other address or facsimile number as the Holder may provide
      to
      the Company in accordance with this Section.

     

    14.  Warrant
      Agent.
      The
      Company shall serve as warrant agent under this Warrant. Upon 10 days’ notice to
      the Holder, the Company may appoint a new warrant agent. Any corporation into
      which the Company or any new warrant agent may be merged or any corporation
      resulting from any consolidation to which the Company or any new warrant agent
      shall be a party or any corporation to which the Company or any new warrant
      agent transfers substantially all of its corporate trust or shareholders
      services business shall be a successor warrant agent under this Warrant without
      any further act. Any such successor warrant agent shall promptly cause notice
      of
      its succession as warrant agent to be mailed (by first class mail, postage
      prepaid) to the Holder at the Holder’s last address as shown on the Warrant
      Register.

     

    15.  Miscellaneous.

     

    (a)  This
      Warrant shall be binding on and inure to the benefit of the parties hereto
      and
      their respective successors and assigns. Subject to the preceding sentence,
      nothing in this Warrant shall be construed to give to any Person other than
      the
      Company and the Holder any legal or equitable right, remedy or cause of action
      under this Warrant. This Warrant may be amended only in writing signed by the
      Company and the Holder and their successors and assigns.

     

    (b)  All
      questions concerning the construction, validity, enforcement and interpretation
      of this Warrant shall be governed by and construed and enforced in accordance
      with the internal laws of the State of New York (except for matters governed
      by
      corporate law in the State of Delaware), without regard to the principles of
      conflicts of law thereof. Each party agrees that all legal proceedings
      concerning the interpretations, enforcement and defense of this Warrant and
      the
      transactions herein contemplated (“Proceedings”)
      (whether brought against a party hereto or its respective Affiliates, employees
      or agents) shall be commenced exclusively in the New York Courts. Each party
      hereto hereby irrevocably submits to the exclusive jurisdiction of the New
      York
      Courts for the adjudication of any dispute hereunder or in connection herewith
      or with any transaction contemplated hereby or discussed herein, and hereby
      irrevocably waives, and agrees not to assert in any Proceeding, any claim that
      it is not personally subject to the jurisdiction of any New York Court, or
      that
      such Proceeding has been commenced in an improper or inconvenient forum. Each
      party hereto hereby irrevocably waives personal service of process and consents
      to process being served in any such Proceeding by mailing a copy thereof via
      registered or certified mail or overnight delivery (with evidence of delivery)
      to such party at the address in effect for notices to it under this Warrant
      and
      agrees that such service shall constitute good and sufficient service of process
      and notice thereof. Nothing contained herein shall be deemed to limit in any
      way
      any right to serve process in any manner permitted by law. Each party hereto
      hereby irrevocably waives, to the fullest extent permitted by applicable law,
      any and all right to trial by jury in any legal proceeding arising out of or
      relating to this Warrant or the transactions contemplated hereby. If either
      party shall commence a Proceeding to enforce any provisions of this Warrant,
      then the prevailing party in such Proceeding shall be reimbursed by the other
      party for its attorney’s fees and other costs and expenses incurred with the
      investigation, preparation and prosecution of such Proceeding.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (c)  The
      headings herein are for convenience only, do not constitute a part of this
      Warrant and shall not be deemed to limit or affect any of the provisions
      hereof.

     

    (d)  In
      case
      any one or more of the provisions of this Warrant shall be invalid or
      unenforceable in any respect, the validity and enforceability of the remaining
      terms and provisions of this Warrant shall not in any way be affected or
      impaired thereby and the parties will attempt in good faith to agree upon a
      valid and enforceable provision which shall be a commercially reasonable
      substitute therefor, and upon so agreeing, shall incorporate such substitute
      provision in this Warrant.

     

    (e)  Prior
      to
      exercise of this Warrant, the Holder hereof shall not, by reason of being a
      Holder, be entitled to any rights of a stockholder with respect to the Warrant
      Shares.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK,

    SIGNATURE
      PAGE FOLLOWS]

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by
      its
      authorized officer as of the date first indicated above.

     

    XETHANOL
      CORPORATION

     

    By:_________________________

    Name:

    Title:

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    EXERCISE
      NOTICE

    XETHANOL
      CORPORATION

    WARRANT
      DATED APRIL 13, 2006

     

    The
      undersigned Holder hereby irrevocably elects to purchase _____________ shares
      of
      Common Stock pursuant to the above referenced Warrant. Capitalized terms used
      herein and not otherwise defined have the respective meanings set forth in
      the
      Warrant.

     

    (1)  The
      undersigned Holder hereby exercises its right to purchase _________________
      Warrant Shares pursuant to the Warrant.

     

    (2)  The
      holder shall pay the sum of $____________ to the Company in accordance with
      the
      terms of the Warrant.

     

    (3)  Pursuant
      to this Exercise Notice, the Company shall deliver to the holder _______________
      Warrant Shares in accordance with the terms of the Warrant.

     

    (4) By
      its
      delivery of this Exercise Notice, the undersigned represents and warrants to
      the
      Company that in giving effect to the exercise evidenced hereby the Holder will
      not beneficially own in excess of the number of shares of Common Stock
      (determined in accordance with Section 13(d) of the Securities Exchange Act
      of
      1934) permitted to be owned under Section 11 of this Warrant to which this
      notice relates.

     

    

    
      	
              Dated:
                _________________,
                _____ 

            	 	
              Name
                of Holder:

            
	 	 	 
	 	 	
              (Print)
                _____________________________

            
	 	 	 
	 	 	
              By:________________________________

            
	 	 	
              Name:______________________________

            
	 	 	
              Title:_______________________________

            
	 	 	 
	 	 	
              (Signature
                must conform in all respects to name of holder as specified on the
                face of
                the Warrant)

            

    

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    Warrant
      Shares Exercise Log

     

    
      	
              Date

            	
              Number
                of Warrant Shares Available to be Exercised

            	
              Number
                of Warrant Shares Exercised

            	
              Number
                of Warrant Shares Remaining to be Exercised

            
	 	
               

               

               

               

               

               

               

               

               

               

               

               

               

               

               

            	 	 

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    XETHANOL
      CORPORATION

    WARRANT
      ORIGINALLY ISSUED april 13, 2006

    WARRANT
      NO. A1

     

    FORM
      OF
      ASSIGNMENT

     

    [To
      be
      completed and signed only upon transfer of Warrant]

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sells, assigns and transfers unto
      ________________________________ the right represented by the above-captioned
      Warrant to purchase ____________ shares of Common Stock to which such Warrant
      relates and appoints ________________ attorney to transfer said right on the
      books of the Company with full power of substitution in the
      premises.

     

    Dated: _______________,
      ____

     

    _______________________________________

    (Signature
      must conform in all respects to name of holder as specified on the face of
      the
      Warrant)

     

    _______________________________________

    Address
      of Transferee

     

    _______________________________________

     

    _______________________________________

     

    In
      the
      presence of:

     

    __________________________

     

    
      
        
        

      

      
        12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]