Document:

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                                                                    Exhibit 10.1

                         OPTION TO PURCHASE REAL ESTATE

     AGREEMENT entered into this 5th day of November, 2004, by and between
Charles Wenther (hereinafter referred to as "Owners") and Siouxland Ethanol, LLC
represented by its President, as Optionee,

     WHEREAS, Owners are the owners of certain property-legally described as:

                                (SEE ATTACHMENT)

     hereinafter referred to as the "Subject Property"; and

     WHEREAS, Optionee desires the right to obtain title to the Subject
Property, at prices and under terms and conditions hereinafter provided, for the
purpose of industrial or commercial expansion and development,

     NOW THEREFORE, in consideration for the sum of an option fee of $1,000.00
in hand paid, and other good and valuable consideration, receipt of which is
hereby acknowledged, the parties hereto agree as follows:

     1. DEFINITION OF TERMS AND DESCRIPTION OF PROPERTY. Subject Property
hereinafter refers to the entire parcel heretofore described.

     For the purposes of this agreement the term "gross acres" shall include any
portion of Subject Property titled in Owners' name but subject to road use or
right of way.

     2. PURCHASE TERMS AND CONDITIONS. The Optionee shall have the right and
option to acquire all portions of the Subject Property upon the terms and
conditions hereinafter set forth:

          a.   Minimum Parcel Requirements. The right and option to acquire the
               Subject Property requires the Optionee to purchase the parcel.

          b.   Initial Option Period and Price. This initial option shall
               continue for a period of time extending from the execution of
               this agreement to and including December 31, 2005. During said
               period, Optionee shall have the right to purchase Subject
               Property, at $8,000.00 per gross acre, for a total purchase price
               of approximately 50 acres actual purchased acres x $8,000.00. If
               said option to purchase is exercised, the $1,000.00 option fee
               shall be applied to the purchase price. If said option is not
               exercised within the initial option period, and no extension is
               requested, said option fee shall be retained by the Owners.

          c.   Right to Extend Option. The Optionee shall have the right and
               option to extend the initial option for up to two (2) additional
               ninety (90) day terms. Said extension request shall be in writing
               and submitted to Owners no later

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               than seven (7) days prior to the expiration of the option in
               place. If the right to extend the option is exercised, the option
               fee shall be retained by Owners.

          d.   Possession. If the Optionee timely performs all obligations in
               connection with the exercise of any option pursuant to this
               agreement, possession of the real estate shall be delivered to
               the Optionee within 60 days following notice of exercise of
               option by Optionee.

          e.   Real Estate Taxes. If Optionee exercises its option to purchase
               Subject Property, then the Owners shall pay all real estate taxes
               accrued prior to date of possession by the Optionee and any
               unpaid real estate taxes payable in prior years. The Optionee
               shall pay all subsequent real estate taxes. Any proration of real
               estate taxes shall be based upon such taxes payable for the year
               of sale.

          f.   Special Assessments. The Owners shall pay all installments of
               special assessments which are a lien on the real estate and, if
               not paid, would become delinquent during the calendar year that
               the option is exercised, and all prior installments thereof. All
               other special assessments shall be paid by the Optionee.

          g.   Abstract of Title. In the event of notice of exercise of an
               option contained herein by the Optionee, Owners, at their
               expense, shall promptly obtain an Abstract of Title to the real
               estate continued through the date of exercise of option by the
               Optionee, and deliver it to the Optionee for examination. It
               shall show merchantable title in the Owners in conformity with
               this agreement, Nebr. law and the Title Standards of the Nebr.
               State Bar Association. The abstract shall become the property of
               the Optionee when the purchase price is paid in full.

          h.   Deed. Upon payment of the purchase price, Owners shall convey the
               real estate to the Optionee, by Warranty Deed, free and clear of
               all liens and encumbrances but subject to easements and
               restrictions of record.

          i.   Joint Tenancy in Proceeds and in Real Estate. If the Owners,
               immediately preceding the exercise of any option herein, hold
               title to the Subject Property in joint tenancy with full right of
               survivorship, and the joint tenancy is not later destroyed by
               operation of law or by acts of the Owners, then the proceeds of
               thus sale, and any continuing or recaptured rights of the Owners
               in Subject Property, shall belong to the Owners as joint tenants
               with full rights of survivorship and not as tenants in common;
               and Optionee; in the event of death of either Owner, agree to pay
               any balance of the price due Owners under this contract to the
               surviving Owner and to accept a deed from the surviving Owner
               consistent with paragraph 2.

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          j.   Method of Exercise of Option. Exercise of the option to purchase
               the Subject Property shall be made by the Optionee delivering to
               the Owners at the address to which notices are to be sent, a
               written notice of exercise of the option as provided herein.
               Written notice shall be given in compliance with paragraph 10
               below.

          k.   Notice of Exercise of Option. The written notice of exercise of
               the option to acquire the Subject Property shall be made in the
               manner described herein but shall only be effective if given on
               or before the end of the last day of the last exercised option.

          l.   Reimbursement for Unharvested Crops/Expenses. In the event
               Optionee takes possession of the Subject Property after a crop is
               planted thereon but before said crop is harvested, the Optionee
               shall reimburse the Owners for seed, fertilizer, and pesticides,
               if Optionee takes possession of Subject Property after spring
               planning work has started. The reimbursement cost shall be
               mutually agreed upon by both parties.

          m.   Opportunity for Like-Kind Exchange. If, within 30 days from when
               the Optionee serves notice to the Owners of its intent to
               exercise its purchase option, the Owners find a third party
               willing to enter into a multiparty like-kind exchange agreement;
               the Optionee agrees to fully cooperate and enter into such
               agreement for the purpose of effecting a multiparty like-kind
               exchange pursuant to Section 1031 of the Internal Revenue Code,
               as amended, whereby the third party will sell like-kind real
               estate to the Optionee and execute a Warranty Deed in favor of
               the Owners; concurrently the Owners will convey their interest in
               Subject Property to the Optionee; concurrently the Optionee shall
               pay the third-party the lesser of the agreed upon value of the
               Subject Property and the agreed upon value of the acquisition
               property; concurrently the difference between the agreed upon
               value of the Subject Property and the agreed upon value of the
               exchange property shall be paid to the Owners by the Optionee, or
               to the third-party by the Owners, as circumstances dictate.

               In the event the Owners fail to find a third party willing to
               enter into a multiparty like-kind exchange agreement within 30
               days of the Optionee's notice, but give notice to the Optionee of
               their intent to effect a deferred like-kind exchange pursuant to
               Section 1031 of the IRC of 1986, as amended, after such period,
               the Optionee agrees to deposit the purchase price of the Subject
               Property in an escrow or other account pursuant to terms enabling
               the Owners to effect such an exchange. In the event that Owners
               have not designated the property to be acquired by Section 1031
               of the Internal Revenue Code, as amended, to effect like-kind
               exchange treatment, then the Optionee shall direct the closing
               agent to pay the balance of the purchase price to the Owners. In
               the event that the Owners have designated the property to be
               acquired by them within the identification period as required by
               Section 1031 of the Internal Revenue

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               Code, as amended, to effect like-kind exchange treatment, then
               the Optionee shall direct the escrow agent to pay the third party
               the amount necessary to effect such an exchange and the balance,
               if any, of the escrow account to the Owners.

     3. CLOSING DATE. If Optionee exercises its option to purchase Subject
Property, the Owners and Optionee shall appear at a mutually convenient closing
date as agreed upon by the parties. The Parties agree to equally share the costs
of closing. The Parties shall split equally the cost of the title insurance
premium.

     4. RIGHT TO FARM PROPERTY DURING TERM OF AGREEMENT. The Owners shall have
the exclusive use and possession of the Subject Property including but not
limited to the right to farm the same during the term of this agreement, or
until the Subject Property is sold, whichever occurs first.

     5. RIGHT TO FARM PROPERTY PURCHASED. In the event that Optionee exercises
its option to purchase all or any portions of Subject Property and in the event
that row crops are cultivated upon said property, Owners shall have the first
right to farm said property under terms and conditions customary in the area.

     6. SUBSURFACE DRAINAGE. Optionee acknowledges its understanding that the
Subject Property may contain certain drainage lines providing surface and
subsurface water drainage from other real property. Optionee agrees to preserve
such subsurface drainage or to provide suitable alternative surface or
subsurface drainage at Optionee's cost on all property purchased pursuant to the
terms of this agreement.

     7. LICENSE TO OPTIONEE TO ENTER PROPERTY. The Owners hereby grant the
Optionee a nonexclusive license to enter the Subject Property from time to time
during the option period for the sole and exclusive purpose of allowing the
Optionee to perform boundary and topographic survey work, and conduct soil,
engineering, and other tests on such land. The Optionee agrees to indemnify and
hold the Owners harmless from any and all damage caused by the Optionee or its
agents on the land or crops thereon. After performing its test and engineering
work, the Optionee shall restore the land to substantially the same condition as
existed prior to the Optionee's conduct thereon, and shall be liable to the
Owners for any damage remaining on the land, or crops or fixtures thereon. Such
license to go on the Subject Property shall be limited to the purpose of
performing such survey work and soil tests, engineering and other tests by the
Optionee, and such license shall automatically terminate and be of no further
force and effect after the expiration of the term of this option agreement.

     8. RIGHT OF ASSIGNMENT. The Optionee shall have the full and unrestricted
right to assign its interest in this agreement or any other interest hereunder
at any time. Optionee agrees that in the event of an assignment, the Optionee
shall assume responsibility for all of the rights, obligations and duties
contained herein which shall survive any such assignment.

     9. TIME IS OF THE ESSENCE. Time is of the essence of each and every term
and provision of this agreement

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     10. REMEDIES. In any action between the parties seeking enforcement of any
of the terms and provisions of this agreement or in connection with the Subject
Property, the prevailing party in such action shall be awarded, in addition to
damages, injunctive or other relief, its reasonable costs and expense, not
limited to taxable costs, and reasonable attorneys fees.

     11. NOTICES. Any notice to either party that may be required hereunder or
which either party is permitted or may desire to give to the other party must be
in writing and may be given by personal delivery or by mailing the same by
registered or certified mail, return receipt requested, to the party to whom the
notice is directed at the address of such party as hereinafter set forth or such
other address as the parties may hereinafter designate:

               Owners:

               Optionee:

     Any notice given by mail shall be deemed given on the day after that on
which the same is deposited in the United States mail, properly addressed with
postage fully prepaid, if mailed in Jackson, Nebraska, or on the 2nd day after
mailing if mailed elsewhere.

     IN WITNESS THEREOF, this Agreement has been executed at Jackson, Dakota
County, State of Nebraska, by the parties as of the day and year first above
written.

By: /s/ Charles Wenther                 /s/ Tom Lynch
    ---------------------------------   ----------------------------------------
    Owner Charles Wenther               Optionee; Siouxland Ethanol, LLC

By:                                     Its: President, Tom Lynch
    ----------------------------------       -----------------------------------
Authorized Signature, Attest            Title
Nancy Kirkholm, Secretary
or Don 'Skip' Meisner, Director

STATE OF NEBRASKA   )
                    ) ss.
COUNTY OF DAKOTA    )

     On this 9 day of November, 2004, before me, the undersigned, a Notary
Public, personally appeared Charles Wenther, Owner, who executed the foregoing
instrument, and acknowledged the execution of the foregoing Option to Purchase
Real Estate.

     [Seal]                             /s/ Bruce Krueger
                                        ----------------------------------------
                                        Notary Public

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STATE OF NEBRASKA   )
                    ) ss.
COUNTY OF DAKOTA    )

     On this 9 day of November, 2004, before me, the undersigned, a Notary
Public, personally appeared Nancy Kirkholm, as Secretary for Optionee or Don
'Skip' Meisner, Director, who executed the foregoing instrument, and
acknowledged the execution of the foregoing Option to Purchase Real Estate.

     [Seal]                             /s/ Bruce Krueger
                                        ----------------------------------------
                                        Notary Public

STATE OF NEBRASKA   )
                    ) ss.
COUNTY OF DAKOTA    )

     On this 9 day of November, 2004, before me, the undersigned, a Notary
Public, personally appeared Tom Lynch, on behalf of said entity as President,
who executed the foregoing instrument, and acknowledged the execution of the
foregoing Option to Purchase Real Estate.

     [Seal]                             /s/ Bruce Krueger
                                        ----------------------------------------
                                        Notary Public

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Portion of SW 1/4 of Section 27
Twn 29
Rg 7
Dakota County, Ne

/s/ Charles Wenther
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                                                                    Exhibit 10.2

                              CONSULTING AGREEMENT

     THIS CONSULTING AGREEMENT (the "Agreement") is made the 15th day of
January, 2005 (the "Effective Date"), by and between BILL RIECHERS, a resident
of the state of South Dakota ("Riechers") and DARRELL DOWNS, a resident of the
state of Iowa ("Downs"), (Riechers and Downs collectively referred to
hereinafter as "CONSULTANTS"), and SIOUXLAND ETHANOL, LLC, of Jackson, Nebraska,
a Nebraska limited liability company ("Client").

     WHEREAS, Client intends to develop, finance and construct an ethanol plant
in or about Dakota County, Nebraska (the "Project"); and

     WHEREAS, CONSULTANTS have a background in value-added agriculture and are
willing to provide services to Client based on this background.

     NOW, THEREFORE, in consideration of the mutual promises and agreements
contained herein, Client hereby engages CONSULTANTS, and CONSULTANTS hereby
accept engagement, upon the terms and conditions hereinafter set forth.

     1. Term. The CONSULTANTS' engagement with Client shall commence as of the
Effective Date and may be terminated at any time by either party upon fourteen
(14) days prior written notice of its intent to terminate this Agreement. Upon
termination, neither Client nor CONSULTANTS shall have any further rights or
obligations under the terms of this Agreement other than delivery of payments
for services to which CONSULTANTS may be entitled through the date of
termination.

     2. Services. CONSULTANTS shall serve as the Client's Project Consultant and
its Service Providers shall perform the following duties incident to that
service subject to Client's approval:

          a. Assist negotiations of contracts with various service and product
     providers,

          b. Assist the planning of the Client's equity marketing effort,
     including, without limitation, preparation of written and visual equity
     marketing materials (including but not limited to a power point
     presentation), and training Client's officers and directors to conduct the
     Client's equity marketing effort,

          c. Assist the securing of debt financing for and commencement of
     construction of the Project,

          d. Assist the education of local lenders including, without
     limitation, the preparation of a "banker's book" tailored to the Project;
     and

          e. Perform such other reasonably necessary duties as Client may
     request for the timely and successful securing of debt financing and
     commencement of construction of the Project, including without limitation,
     cooperating with the Client's personnel similarly engaged. Notwithstanding
     the forgoing, neither of CONSULTANTS, shall themselves be asked to, or
     actually, solicit an offer to buy, or accept an offer to sell, any equity
     security to be issued by Client.

     Subject to Client's approval, CONSULTANTS shall determine the manner in
which the services are to be performed and the specific hours to be worked by
CONSULTANTS. Client will rely on CONSULTANTS to work as many hours as may be
reasonably necessary to fulfill CONSULTANTS's commitments under this Agreement;
provided, however, that Riechers hereby agrees to devote his full-time efforts
to the Project and agrees to be available for the performance of his duties
hereunder on weekdays, weeknights and weekends as reasonably necessary to
fulfill his commitments under this Agreement.

     3. Payment of Riechers. Upon execution of this Agreement by both parties,
Riechers shall receive a one-time cash payment in the amount of $25,000.
Riechers shall receive weekly payment for services in the amount of $300 per day
up to and not exceeding $1,500 per week commencing upon the date (the
"Commencement Date") six weeks prior to the time that the Client becomes legally
authorized to sell its

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equity. In the event Client requests Riechers to perform services described in
Paragraph 2 prior to the Commencement Date, Riechers shall receive $300 per day
for each day prior to the Commencement Date during which Riechers provides
services to Client consistent with this Agreement. Payments shall be made in
accordance with Client's regular payroll practices. Upon termination of this
Agreement, payments hereunder shall cease; provided, however, that Riechers
shall be entitled to payments for periods or partial periods that occurred prior
to the date of termination for which Riechers has not been paid.

Additionally, Client will pay to Riechers a one-time cash bonus of $35,000 and
will issue equity securities to Riechers in the amount of $40,000, if, after the
Client has raised the amount of equity required by a prospective lender to
secure a loan adequate to finance the Client's business plan, the Client
receives a binding commitment from such prospective lender to provide such loan
or loans as a result of the efforts of Riechers pursuant to section 2(c) of this
Agreement, and the loan transaction described in such commitment actually closes
and is funded. Notwithstanding the foregoing, the Client shall have sole
discretion in determining whether to accept a loan commitment or close a loan,
and the Client shall not become liable to pay the one-time bonus discussed in
this section if it elects to not accept a loan commitment or close a loan. The
bonus payable hereunder shall be made promptly after Client's execution and
delivery of debt financing agreements under which Client receives debt financing
sufficient to carry out its business plan.

     5. Payment of Downs. Upon execution of this Agreement by both parties,
Downs shall receive a one-time cash payment in the amount of $5,000. Downs shall
receive weekly payment for services in the amount of $150 per day up to and not
exceeding $750 per week commencing upon the date (the "Commencement Date") two
weeks prior to the time that the Client becomes legally authorized to sell its
equity. In the event Client requests Downs to perform services described in
Paragraph 2 prior to the Commencement Date, Downs shall receive $150 per day for
each day prior to the Commencement Date during which Downs provides services to
Client consistent with this Agreement. Payments shall be made in accordance with
Client's regular payroll practices. Upon termination of this Agreement, payments
hereunder shall cease; provided, however, that Downs shall be entitled to
payments for periods or partial periods that occurred prior to the date of
termination for which Downs has not been paid.

Additionally, Client will pay to Downs a one-time cash bonus of $5,000 and will
issue equity securities to Downs in the amount of $20,000, if, after the Client
has raised the amount of equity required by a prospective lender to secure a
loan adequate to finance the Client's business plan, the Client receives a
binding commitment from such prospective lender to provide such loan or loans as
a result of the efforts of Downs pursuant to section 2(c) of this Agreement, and
the loan transaction described in such commitment actually closes and is funded.
Notwithstanding the foregoing, the Client shall have sole discretion in
determining whether to accept a loan commitment or close a loan, and the Client
shall not become liable to pay the one-time bonus discussed in this section if
it elects to not accept a loan commitment or close a loan. The bonus payable
hereunder shall be made promptly after Client's execution and delivery of debt
financing agreements under which Client receives debt financing sufficient to
carry out its business plan.

     6. Expenses. Client shall reimburse CONSULTANTS for all reasonable,
ordinary and necessary expenses incurred by CONSULTANTS in performance of their
duties hereunder, including without limitation, reimbursement for hotel expenses
and automobile mileage at a rate of 30 cents per mile or such other rate to
which the parties hereto may later agree. However, in no case shall any such
expense reimbursements exceed $750 in any single week.

     7. Support Services. Client will provide the following support services for
the benefit of CONSULTANTS as approved by Client: office space, secretarial
support, and office supplies.

     8. Successors and Assigns Bound. This Agreement shall be binding upon the
Client and CONSULTANTS, their respective heirs, executors, administrators,
successors in interest or assigns, including without limitation, any
partnership, corporation or other entity into which the Client may be merged or
by which it may be acquired (whether directly, indirectly or by operation of
law), or to which it may assign its rights under this Agreement. Notwithstanding
the foregoing, any assignment by CONSULTANTS of this Agreement or of any
interest herein, or of any money due to or to become due by reason of the terms
hereof

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without the prior written consent of Client shall be void.

     9. Relationship of the Parties. The parties understand that CONSULTANTS are
independent contractors with respect to Client, and not employees of Client.
Client will not provide fringe benefits, including health insurance benefits,
paid vacation, or any other employee benefits for the benefit of CONSULTANTS.

     10. Injuries. CONSULTANTS acknowledge CONSULTANTS' obligation to obtain
appropriate insurance coverage for the benefit of CONSULTANTS. CONSULTANTS waive
any rights to recover from Client for any injuries that CONSULTANTS, or their
representatives or agents, may sustain while performing services under this
Agreement resulting from the negligence of CONSULTANTS, or their representatives
or agents.

     11. Return of Records. Upon termination of this Agreement, CONSULTANTS
shall immediately deliver all records, notes, data, memoranda, models, and
equipment of any nature that are in CONSULTANTS' possession or under
CONSULTANTS' control and that are Client's property or relate to Client's
business.

     12. Waiver. The waiver by the Client of its rights under this Agreement or
the failure of the Client promptly to enforce any provision hereof shall not be
construed as a waiver of any subsequent breach of the same or any other
covenant, term or provision.

     13. Entire Agreement. This Agreement constitutes the entire Agreement
between the parties hereto with regard to the subject matter hereof, and there
are no agreements, understanding specific restrictions, warranties or
representations relating to said subject matter between the parties other than
those set forth herein or herein provided for. No amendment or modification of
this Agreement shall be valid or binding unless in writing and signed by the
party against whom such amendment or modification is to be enforced.

     14. Notices. Any notice required to be given hereunder shall be in writing
and shall be deemed to be sufficiently served by either party on the other party
if such notice is delivered personally or is sent by certified or first class
mail addressed as follows:

         To CONSULTANTS: Attention: Bill Riechers
                         504 Astrachan Street
                         Volga, South Dakota

         To Client:      Siouxland Ethanol, LLC
                         Attention: Tom Lynch
                         110 East Elk Street
                         Jackson, NE 68743

     15. Governing Law. This Agreement is entered into pursuant to and shall be
governed by and in accordance with the laws of the State of Nebraska.

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     16. Service Providers. Bill Riechers shall provide the majority of
CONSULTANTS' services under this Agreement, with the assistance of Darrell
Downs. Notwithstanding the foregoing, in the event that Client, in its own sole
discretion, schedules frequent or simultaneous capital raising meetings, or
otherwise desires an aggressive capital raising schedule, both Bill Riechers and
Darrell Downs shall then be available and simultaneously provide CONSULTANTS'
services.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the
Effective Date.

SIOUXLAND ETHANOL, LLC ("CLIENT")

BY: /s/ Tom Lunch
    ------------------------------------
    TOM LYNCH, PRESIDENT

CONSULTANTS

    /s/ Bill Riechers
    ------------------------------------
    BILL RIECHERS, INDIVIDUALLY

    /s/ Darrell Downs
    ------------------------------------
    DARRELL DOWNS, INDIVIDUALLY

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