Document:

AMENDED
      AND RESTATED LOAN AGREEMENT

     

    
      
        	
                BORROWER:

              	 	
                VANGUARD
                  SYNFUELS, LLC

              	 	
                DATED
                  EFFECTIVE: June 28, 2007

              
	 	 	
                P.
                  O. Box 399

              	 	 
	 	 	
                Pollock,
                  LA 71467

              	 	
                TOTAL
                  AMOUNT OF LOAN:

              
	 	 	 	 	 
	
                LENDER:

              	 	
                First
                  South Farm Credit, ACA

              	 	
                $1,500,000
                  Term Loan (“Term Loan”)

              
	 	 	
                P.
                  O. Box 13018

              	 	
                $2,000,000
                  Revolving Line of Credit (“LOC Loan”)

              
	 	 	
                Alexandria,
                  LA 71315 

              	 	
                Total
                  $3,500,000 

              

      

    

     

    WHEREAS,
      Vanguard Synfuels, LLC (“Vanguard”) entered into a loan agreement with First
      South Farm Credit, ACA (“Lender”) dated January 12, 2006 (the “Original
      Agreement”);

    

    WHEREAS,
      pursuant to a First Amendment to Loan Agreement executed by Vanguard on
      September 20, 2006, and by First South on September 29, 2006 (“First
      Amendment”), First South and Vanguard modified the Original Agreement, including
      among other things releasing six individual guarantors and accepting a guarantee
      of Diametrics Medical, Inc. (“DMED”) as a guarantor, and revising and amending
      certain other provisions of the Original Agreement, all as set forth in the
      First Amendment; 

    

    WHEREAS,
      DMED has merged into Biodiesel Development Corporation, which has now changed
      its name to Allegro Biodiesel Corporation (“Allegro”);

    

    WHEREAS,
      Vanguard is a 100% subsidiary of Allegro and WHEREAS, Vanguard has requested
      certain modifications to the Original Agreement, as modified by the First
      Amendment, and Lender has agreed to certain amendments and/or modifications,
      subject to the terms and conditions set forth herein; 

    

    NOW,
      THEREFORE, it is hereby agreed as follows: 

    

    The
      Original Agreement, as modified, by the First Amendment, is hereby completely
      amended and restated to read in its entirety as follows: 

    

    This
      Amended and Restated Loan Agreement (the “Restated Loan Agreement” or “Loan
      Agreement”) is entered into between Borrower and Lender in compliance with the
      regulations of the Farm Credit Administration applicable to Lender. Lender
      extends credit to Borrower up to the Total Amount of Loan on the terms and
      conditions set forth in this Loan Agreement and in accordance with the general
      lending policies of the Board of Directors of Lender.

    

    I. TOTAL
      AMOUNT OF LOAN

    

    Vanguard
      (“Borrower”) has requested the loans from Lender as specified above (the “Loan”)
      and, subject to the terms and conditions contained herein, Lender has approved
      an extension of credit to Borrower up to the total amount listed above. Borrower
      agrees to pay to Lender, in addition to the amounts specified in the Loan
      Documents hereinafter defined, all costs and expenses of Lender incurred in
      connection with the making of the Loan. The costs and expenses to be paid by
      Borrower include all attorneys’ fees and other legal fees (including the cost of
      paralegals) in connection with the credit review, closing, documentation and
      subsequent servicing and enforcement of the Loan, all recording fees, survey
      (if
      required), examinations of title, title insurance (if required), legal advice
      to
      Lender regarding Lender’s rights and responsibilities under any of the Loan
      Documents, and all costs, fees and expenses related to the protection,
      maintenance and preservation of any collateral or lien position and the
      enforcement of the Borrower’s obligations. Borrower further agrees to pay at
      closing the loan service fee to be specified by Lender.

    

    II. LOAN
      DOCUMENTATION

    

    Borrower
      has previously executed two promissory notes in connection with the Original
      Agreement and agrees to execute a new promissory note for the LOC Loan (the
“LOC
      Note”), which LOC Note replaces the previous Revolving Variable Rate Note
      executed with respect to the LOC Loan under the original agreement, setting
      forth the repayment terms, interest, prepayment and other provisions, and
      Borrower has executed all documents necessary to secure the loan, including
      a
      multiple indebtedness mortgage, assignment of leases and rents, security
      agreement, financing statement and other collateral documents sufficient to
      create and perfect in favor of Lender the lien purported to be created by the
      Loan Documents and any other documents Lender may reasonably require, in a
      form
      satisfactory to Lender. All instruments and documents, including the
      Loan/Membership Application, signed or to be signed by Borrower and by any
      guarantor which are related to the Loan are referred to as the “Loan Documents.”
No loan or advance shall be made when the aggregate of loans and commitments
      outstanding and attributed to Borrower exceeds the lending limit then applicable
      to Lender for any one borrower. Borrower agrees to execute all Loan Documents
      as
      completed by Lender in order to obtain the Loan; however, Borrower reserves
      the
      right to reject any Loan Document and to terminate its obligations prior to
      the
      earlier of disbursement of any Loan funds or closing. In the event Borrower
      elects to terminate its obligations and not close in accordance with this Loan
      Agreement, for any reason, Borrower nevertheless shall remain liable for fees
      and expenses incurred by Lender which are reimbursable by Borrower under
      paragraph I above. No funds shall be disbursed to Borrower until all Loan
      Documents are signed and, with regard to those documents which shall be filed
      for record, until such documents are filed for record; Lender has reasonable
      assurance that its lien position is as represented, and Borrower is in strict
      compliance with the terms and conditions of this Loan Agreement and the Loan
      Documents. Borrower and Allegro will furnish new consents/resolutions expressly
      authorizing the transaction and documents contemplated herein, all in form
      and
      substance approved by Lender. All new Loan Documents must be executed at the
      time of execution of this Restated Loan Agreement, and the original executed
      guaranty, note, and consents/resolutions, along with the original of this
      Restated Loan Agreement shall be delivered
      to
      Lender within two (2) business days thereafter. 

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    III. REPRESENTATIONS
      AND COVENANTS

     

    At
      the
      time of execution of the Original Agreement, and at the time of execution of
      this Restated Loan Agreement, and continuing for so long as any indebtedness
      of
      Borrower to Lender is outstanding, Borrower covenants, warrants and represents
      as of the applicable dates of said agreements that:

    

    A. The
      execution, delivery and performance by Borrower of this Loan Agreement, the
      Loan
      Documents and the borrowings evidenced by the term loan note and the original
      and the new revolving line of credit note (singularly “Note,” collectively
“Notes”), are within Borrower’s power and Borrower has been authorized by all
      necessary parties and has taken all requisite action for due authorization,
      execution, delivery and performance. The Loan Documents are fully enforceable
      against Borrower in accordance with their respective terms.

     

    B. Borrower
      is either an individual or a valid legal entity with legal capacity to execute,
      deliver and perform this Loan Agreement, the Loan Documents and the borrowings
      evidenced by the Note. Borrower will maintain its legal existence, in good
      standing, until the loan is paid in full.

     

    C. Borrower
      has received all requisite governmental authority that is necessary or required
      with respect to this Loan Agreement, the granting of liens on the collateral
      as
      specified in the Loan Documents and the operation of the business or businesses
      of Borrower and Borrower’s agricultural enterprise.

     

    D. Borrower
      is in full compliance in all material respects with all environmental laws
      and
      regulations. Borrower agrees not to use any loan proceeds for a purpose that
      will contribute to erosion of highly erodible land or to the conversion of
      wetlands to produce an agricultural commodity, as further explained in 7 CFR
      Part 1940, Subpart G, Exhibit M, and will further comply in all respects with
      all applicable laws (whether statutory, common or otherwise), rules,
      regulations, orders, permits, licenses, ordinances, judgments and decrees of
      all
      governmental authorities (whether federal, state, local or otherwise),
      including, without limitation, all laws regarding public health or welfare,
      environmental protection, water and air pollution, composition of product,
      underground storage tanks, toxic substances, hazardous wastes, hazardous
      substances, hazardous materials, waste or used oil, asbestos, occupational
      health and safety, nuisances and trespass. Borrower indemnifies and agrees
      to
      hold Lender harmless from and against any claim, loss, cause of action or other
      expense (including attorneys’ and paralegals’ fees and other cost of defense) in
      any manner related to or arising from a breach of any portion of this Loan
      Agreement by Borrower, including the covenants and representations contained
      herein.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    E. Borrower
      certifies that Borrower has relied on its own knowledge and expertise as to
      all
      farming and other business operation decisions and has not relied on any advice
      or recommendation of Lender or any of its employees.

     

    F. Borrower
      may not assign this Loan Agreement or transfer any of its rights hereunder.
      Borrower acknowledges that any attempted transfer or assignment will be void
      and
      that no third party may rely on this Loan Agreement for any purpose. Lender
      may,
      however, subject to regulations applicable to Lender, sell, assign or grant
      participations in this Loan.

     

    G. Borrower
      is not in default under any document, instrument or commitment to which Borrower
      is a party or to which the Borrower or any of his property is subject. Further,
      Borrower is not in default under any loan with Lender.

     

    H. There
      is
      no action, suit, proceeding, inquiry or investigation by or before any court,
      governmental agency, public board, or body pending or, to the knowledge of
      the
      Borrower, threatened against the Borrower or any principal, owner or partner
      of
      Borrower or guarantor of the Loan which (a) affects or seeks to prohibit,
      restrain or enjoin Borrower’s ownership of any property, or the due execution,
      delivery or performance of the Loan Documents, or the operation of any farming
      or agribusiness activity of the Borrower; (b) affects or questions the validity
      or enforceability of this Loan Agreement or any of the Loan Documents; or (c)
      affects or questions the power or authority of the Borrower or any guarantor
      to
      perform its obligations under this Loan Agreement and the Loan
      Documents.

     

    I. All
      representations, certificates, financial statements, documents, instruments
      and
      other matters submitted to the Lender are accurate and correct as of the date
      reflected therein and shall continue to be accurate and correct without material
      adverse change, alteration or circumstance during the term of this Loan.

     

    The
      representations, warranties and covenants contained in this article shall
      survive the termination and payment of the Loan.

     

    IV. EVENTS
      OF DEFAULT

     

    The
      following shall constitute “Events of Default”:

     

    A. Borrower
      shall fail to timely make all payments due to Lender, or Borrower shall fail
      to
      constantly maintain all insurance, as provided in the Loan Documents, and
      provide evidence of such to Lender. 

     

    B. Except
      as
      to the obligations under Paragraph IV A. (above), Borrower or any guarantor,
      as
      applicable, shall fail to comply with any of the representations, covenants,
      duties or obligations of Borrower or guarantor, as the case may be, in this
      Loan
      Agreement or in any of the Loan Documents.

     

    C. If
      at any
      time any representation or warranty made by the Borrower herein or in any other
      document given by Borrower to Lender or otherwise relied upon by Lender shall
      be
      or become materially incorrect.

     

    D. If
      Borrower shall fail to execute or provide any of the Loan Documents or maintain
      the lien status purported to be created by the Loan Documents.

     

    E. Except
      as
      to the obligations under Paragraph IV. A. above, if Borrower shall fail to
      provide any of the required documentation, certificates or evidence required
      by
      this Loan Agreement in a form substantially in accordance with the requirements
      of this Loan Agreement.

     

    F. If
      any
      Borrower or guarantor of Borrower shall (a) die; (b) apply for or consent to
      the
      appointment of a receiver, trustee or liquidator; (c) admit in writing its
      inability to pay or is unable to pay its debts as they mature or otherwise
      not
      pay its debts as such debts are due; (d) make a general assignment for the
      benefit of creditors; (e) be adjudicated a bankrupt; (f) file a petition or
      answer seeking reorganization or an arrangement with creditors; (g) take
      advantage of any insolvency law; or (h) take any action for the purpose of
      effecting any of the foregoing.

     

    G. If
      any
      order, judgment or decree shall be entered against Borrower or any guarantor
      without the application, approval or consent of Borrower and/or any guarantor
      of
      Borrower by any court of competent jurisdiction appointing a receiver, trustee
      or liquidator of the Borrower and/or any guarantor of Borrower or of all or
      any
      substantial part of the assets of Borrower and/or any guarantor of Borrower,
      and
      such order, judgment or decree shall continue unstayed and in effect for a
      period of thirty (30) consecutive days.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    H. If
      Borrower fails to comply with any requirement of any governmental authority
      within thirty (30) days after notice in writing of such requirement shall have
      been given to Borrower.

     

    I. If
      any
      Borrower or any guarantor of Borrower’s obligations hereunder defaults in timely
      and fully performing any obligations imposed under this Loan Agreement or any
      of
      the Loan Documents.

     

    J. If
      a
      default or event of default should occur under any loan between (i) Borrower
      and/or any guarantor and (ii) Lender. This cross-default provision shall not
      affect an ownership interest in residential real property occupied by any
      Borrower as a principal dwelling and any deed of trust or mortgage secured
      by
      such residential real property shall stand on its own terms.

     

    As
      to any
      defaults, failures or breaches (collectively “defaults”) under the provisions of
      paragraph IV B. through IV J., those defaults will not become Events of Default
      unless Borrower fails to cure, and/or fails to cause the cure of, any such
      defaults within fifteen (15) days of Lender providing written notice of such
      defaults. 

     

    If
      any
      Event of Default occurs hereunder, a default or event of default shall be deemed
      to have occurred under the Loan Document. No further disbursement of the
      proceeds of the Loan will be made and Lender may exercise all default rights
      and
      remedies set forth in this Loan Agreement and in the Loan
      Documents.

     

    V. SPECIAL
      CONDITIONS

     

    In
      the
      event of any conflict between the terms of this Loan Agreement and any of the
      other Loan Documents, the terms of such other Loan Documents shall control.
      Borrower and Lender agree that this Loan Agreement shall be governed by the
      laws
      of the jurisdiction listed in the address of Lender as shown on the first page
      of this Loan Agreement. The Loan is further subject to the following terms,
      covenants and special conditions. 

     

    Conditions
      Precedent:
      The
      following shall be conditions precedent to any obligation of Lender to make
      the
      Loan to Borrower, including the restructuring and extension of the LOC
      Loan:

    

    
      	 	
              1.

            	
              Lender
                shall have a first priority perfected lien and security interest
                in all
                Collateral at the time of Closing. In addition, Allegro Biodiesel
                Corporation shall execute and deliver to Lender an unconditional,
                unlimited, in solido guarantee in form and substance prepared by
                Lender.
                

            

    

     

    
      	 	
              2.

            	
              Execution
                and delivery of all Loan Documents, including the LOC Note, and the
                same
                shall be in full force and effect.

            

    

    
      	 	 	 

      	 	
              3.

            	
              Borrower
                shall have obtained and furnished to Lender environmental audit(s)
                covering all Collateral, the results of which shall be satisfactory
                to
                Lender in its sole discretion. Lender shall also have received, to
                its
                satisfaction, evidence of Borrower's compliance with all applicable
                environmental laws, regulations, policies, orders, and permitting
                and
                licensing requirements to which Borrower, its operations and the
                Collateral may be subject. Borrower shall provide Lender an Environmental
                Hazards Assessment (Form ENV-1) covering the Real
                Property.

            

      	 	 	 

    

    
      	 	
              4.

            	
              Lender
                shall be provided mortgagee title insurance covering the Real Property
                in
                the amount of the Loan containing no exceptions from coverage except
                those
                which are acceptable to Lender and issued by a title insurance company
                acceptable to Lender.

            

    

    
      	 	 	 

      	 	
              5.

            	
              Lender
                shall be provided such information and documentation relating to
                the Real
                Property and its acquisition as Lender, in its discretion, may
                require.

            

      	 	 	 

    

    
      	 	
              6.

            	
              Lender
                shall receive an opinion of legal counsel for Borrower certifying
                the good
                standing of Borrower and its authority and capacity to enter into
                the
                transaction contemplated herein, and such other matters as Lender
                may
                require, all in form and content satisfactory to
                Lender.

            

    

    
      	 	 	 

      	 	
              7.

            	
              A
                FEMA Standard Flood Hazard Determination is to be completed. If real
                estate is determined to be in a flood zone, Borrower will provide
                evidence
                of flood insurance.

            

      	 	 	 

    

    
      	 	
              8.

            	
              Furnish
                a certified resolution of Allegro authorizing its agent to enter
                into and
                execute the guaranty, said resolution shall be in form and substance
                approved by Lender. 

            

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      	 	
              9.

            	
              Furnish
                certified evidence of authority for agent of Borrower to enter into
                and
                execute this Loan Agreement and the new note for the LOC Loan, all
                in form
                and substance approved by Lender. 

            

    

    

    Additional
      Covenants:

    

    
      	 	
              ·

            	
              Existing
                and future indebtedness (“Obligations”) to Borrower by its member
                (currently Allegro) will be subordinate to First South’s debt, with no
                payments allowed on these Obligations, without the prior written
                consent
                of First South;

            

    

    
      	 	 	 

      	 	
              ·

            	
              Borrower
                may make inter-company advances and distributions to Allegro as long
                as
                Vanguard and guarantor are not in default under this Loan Agreement
                and/or
                any other Loan Documents, and that after said advances and/or
                distributions, Vanguard continues to be in compliance with all Financial
                Covenants contained herein;

            

      	 	 	 

    

    
      	 	
              ·

            	
              The
                interest paid on the obligations to Allegro (and/or any future member(s)
                of Borrower) and/or any affiliates will not be greater than the rate
                of
                interest paid by Borrower on Lender’s debt;

            

    

    
      	 	 	 

      	 	
              ·

            	
              Provide
                written notice, providing details of transaction, prior to pledging
                assets
                to or borrowing money from another lender, and obtain the written
                consent
                of Lender to such proposed transaction; 

            

      	 	 	 

    

    
      	 	
              ·

            	
              Provide
                evidence of insurance, with Lender named as mortgagee/loss payee
                on the
                appropriate policies. 

            

    

    
      	 	 	 

      	 	
              ·

            	
              Borrower
                shall pay to Lender an unused revolving line of credit fee, which
                fee
                shall be payable in arrears on the first day of each fiscal quarter
                of
                Borrower, in an amount equal to 0.0625% per fiscal quarter times
                the
                difference of (i) $2,000,000, minus (ii) the average for the applicable
                fiscal quarter of the daily closing balances of the outstanding principal
                amount of the advances under the Revolving Variable Rate Note (the
                note
                for the LOC loan) that were outstanding during the immediately preceding
                fiscal quarter. 

            

    

    

    Reporting
      Requirements:
      So long
      as Borrower is indebted to Lender, Borrower shall submit to the lender the
      following:

    

    
      	 	
              1.

            	
              Annually,
                within one hundred twenty (120) days following the end of Borrower’s
                fiscal year (12/31), a balance sheet, income statement, statement
                of
                changes in capital position, statement of cash flows, and accompanying
                notes, prepared in accordance with generally accepted accounting
                principles, accompanied by an audit opinion acceptable to
                Lender.

            

    

     

    
      	 	
              2.

            	
              Quarterly,
                within 45 days of the end of each quarterly period, an interim balance
                sheet and income statement of
                Borrower.

            

    

    

    Financial
      Covenants:
       

    

    
      	
            	·	
              Achieve
                by FYE 12/31/07 and maintain thereafter a minimum working capital
                position
                of $500,000; 

            

    

     

    
      	
            	·	
              Achieve
                by FYE 12/31/06 and maintain thereafter an excess of total assets
                over
                total liabilities of not less than $1,500,000;

            

    

     

    
      	
            	·	
              Maintain
                the Cash Flow Coverage Ratio of no less than 1.25:1, beginning as
                of FYE
                12/31/08, to be measured at each fiscal year end. Cash Flow coverage
                Ratio
                is defined as the ratio of (i) net profit after taxes plus depreciation,
                minus capital expenditures, minus salary distributions to key employees,
                and minus distributions to owners on their equity investment (ii)
                to the
                current portion of long-term debt. 

            

    

    

    Modifications
      to Revolving Line of Credit and the existing $2,000,000 Revolving Variable
      Rate
      Note:

     

    Borrower
      agrees that it will continue to make quarterly payments of accrued interest
      on
      October 1, 2007, and on each successive quarterly payment due date until July
      1,
      2009, and on said date, the LOC Loan shall mature, if not previously matured
      by
      acceleration, and all sums due in principal, interest, costs and fees shall
      be
      due and payable in full. Borrower will execute a new Revolving Variable Rate
      Note (the “New Note”) in the form of Exhibit “A.” 

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    Other
      Covenants:

     

    (1) Vanguard
      shall furnish and/or cause Allegro to furnish quarterly internal, consolidated
      and consolidating financial statements of Allegro and Vanguard, certified by
      the
      chief financial officer (CFO) of Allegro and of Vanguard, on or before 45 days
      after each calendar quarter, which would show the separate financial status
      for
      each entity as well as the consolidated status. Said financial statements would
      include a balance sheet, a statement of contingent liabilities and statement
      of
      income and expense for the prior quarter and year to date. Vanguard shall
      furnish or cause Allegro to furnish directly to First South any reports, etc.
      filed by Allegro with the SEC and furnish or cause Allegro to furnish directly
      to First South any and all notices, reports sent to shareholders of Allegro,
      each of said notices, reports, etc. to be furnished contemporaneously with
      the
      filing of such matters and/or sending such notices. Vanguard shall furnish,
      or
      cause Allegro to furnish Allegro’s annual audited financial statements within
      120 days of each fiscal year end; 

     

    (2) Vanguard
      agrees and shall cause Allegro to agree that First South directly or through
      its
      agents, may inspect the business, assets, books and records concerning Allegro
      and/or Vanguard upon furnishing two business days prior written notice to
      Allegro and/or Vanguard, as applicable, and Vanguard shall furnish, or cause
      Allegro to furnish, as applicable, an officer to cooperate and work with First
      South and/or its agent(s) reviewing any such books and records and/or the
      business and/or assets of Vanguard and/or Allegro. All such reviews will be
      conducted during normal business hours. 

     

    (3) Vanguard
      will cause Allegro to execute an unconditional, unlimited, in solido, continuing
      guaranty agreement of all of the indebtedness and obligations (present or
      future) of Vanguard to Lender, prepared by Lender. 

     

    (4) It
      is
      further agreed that in addition to any other events of default as contained
      in
      this Restated Loan Agreement, if there is a default by Vanguard, complying
      with
      the terms and conditions of this Restated Loan Agreement, or causing Allegro
      to
      fully and timely comply with the terms and conditions of this Restated Loan
      Agreement, this shall constitute an additional event of default. 

     

    (5) Vanguard
      further agrees that if, and when, Allegro changes its state of organization
      and/or amends its registered corporate name, Vanguard shall furnish or cause
      Allegro to promptly [within three (3) business days thereof], furnish copies
      of
      Allegro’s revised organizational documents as filed with the Secretary of State
      of the state of its then organization, and if Allegro’s name is amended under
      the amended name, Allegro shall ratify and confirm under its amended name
      Allegro’s obligation under the then existing continuing guaranty agreement
      previously executed by Allegro. 

     

    (6)
       In
      addition, the Borrower warrants that it is currently indebted to Lender in
      the
      principal sum of $1,350,000 on the Term Loan, plus accrued interest, at the
      rate
      of 9.5% per annum and is currently indebted in the principal sum of
      $1,667,378.93 on the LOC Loan, plus accrued interest, at the rate set forth
      in
      the new Revolving Variable Rate Note. Borrower further acknowledges and warrants
      that said sums are legally due and owing and Borrower has no defenses to the
      validity and enforcement of said indebtedness. Borrower further warrants and
      covenants that it has no claims, demands or counter claims against Lender,
      and
      Borrower hereby expressly waives and renounces any claims and/or causes of
      action, if any, that it has against Lender, (i) which have accrued and/or (ii)
      which have arisen from facts and/or actions, which occurred prior to and/or
      through the date of execution of this Restated Loan Agreement. In addition,
      Borrower acknowledges and warrants that Lender has fully funded the Term Loan,
      and that Borrower may not borrow any additional monies under the Term Loan.
      

     

    (7)
       At
      the
      time of execution of this Loan Agreement, Vanguard shall pay Lender (i) a loan
      renewal fee in the amount of $5,000, and (ii) pay Lender the sum of $4,500
      being
      the amount of Lender’s attorney’s fees and costs. 

     

    (8) No
      novation. It is expressly agreed that this Restated Loan Amendment does not
      constitute a novation of Vanguard’s existing indebtedness and/or obligations
      and/or of any collateral and security for said indebtedness and obligations,
      and
      does not constitute a novation of the existing promissory notes or of any
      existing Loan Document. 

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    (9) This
      agreement may be executed in multiple originals and fax and/or electronic
      signatures shall be deemed effective as originals. 

     

    Witness
      the signature of Borrower(s) and Lender:

     

    
      	
              VANGUARD
                SYNFUELS, LLC

            	 	
              FIRST
                SOUTH FARM CREDIT, ACA

            
	 	 	 
	 	 	 
	
              BY:
                /s/ Darrell J. Dubroc

            	 	
              BY:
                /s/ Timothy C. Dupuy

            
	
              
                

              

              Darrell
                J. Dubroc, President, Duly Authorized

            	 	
              
                

              

              Timothy
                C. Dupuy, Division Vice President

            

    

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    
      	
              AGREED TO AND APPROVED BY

              
                THE
                  SOLE MEMBER OF BORROWER:

              

            	 	 	 
	 	 	 	 
	
              ALLEGRO
                BIODIESEL CORPORATION

            	 	 	 
	 	 	 	 
	 	 	 	 
	By:
              /s/ W. Bruce Comer, III 	 	 	 
	
              
                
W.
                Bruce Comer, III CEO 

            	 	 	
            
	
               (Print
                Name) Title Duly Authorized 

            	 	 	
            

    

     

    
      
         

      

      
        8CONTINUING
      GUARANTY

    

    
      	Debtor	 	Vanguard Synfuels, LLC
	 	 	Pollock, Louisiana 

    

     

    In
      consideration of FIRST SOUTH FARM CREDIT, ACA (“Creditor”) having made and/or
      making loans or advances or otherwise giving credit to the above named debtor
      (“Debtor”), as Creditor and Debtor may from time to time agree upon, the
      undersigned guarantor (“Guarantor”), does hereby unconditionally and in solido
      with Debtor, guarantee to Creditor, its successors and assigns, and all future
      holder or holders of this Continuing Guaranty, which is hereby declared to
      be
      transferable, the prompt payment of all debts, obligations, and liabilities,
      whether direct, indirect, absolute, contingent, secured, or unsecured,
      (hereinafter collectively referred to some times as “Obligations”) which Debtor
      may now or at any time, or times, hereafter owe, or be liable to pay to
      Creditor, and Guarantor agrees to pay the same promptly when due and at all
      times thereafter, without notice or demand. Should Debtor be or become
      insolvent, then Guarantor agrees to pay all Obligations forthwith whether then
      due or not due.

    

    Creditor
      may sell, pledge, assign, discount, rediscount, surrender, compound, release,
      renew, extend, forebear, alter, exchange, or otherwise deal with and/or dispose
      of any and all property, securities, collateral, endorsements and guaranties
      now
      or hereafter held by said Creditor as security, indemnity, or otherwise, upon
      such terms and conditions as Creditor in its sole discretion may deem advisable,
      and Creditor may, from time to time, make such changes in, renewals and
      extensions of time, mode and terms of payment of said Obligations of Debtor,
      and
      of the time, mode and terms of payment of all or any endorsements and guaranties
      of said Obligations made by others, as Creditor in its sole discretion may
      deem
      advisable; all without in any way affecting, limiting, or prejudicing the
      Creditor’s rights or the Guarantor’s liability under this Continuing Guaranty.
      Creditor is hereby irrevocably authorized and empowered at any and all times
      to
      impute or apply, as it may see fit, any payment or payments which may be made
      by
      Debtor or by others on Debtor’s Obligations.

    

    This
      guaranty shall be a continuing guaranty, and shall remain in full force and
      effect until terminated by the Creditor’s receipt of 30 days prior written
      notice of its termination; but such termination shall not affect or impair
      said
      Guarantor’s liability hereunder as to any Obligations of the Debtor existing on
      the effective date of such termination, or as to any subsequent modifications,
      renewals, extensions or changes in the form or evidence of said existing
      Obligations, whether such Obligations are matured or not upon the effective
      date
      of termination. Such termination shall not affect Creditor’s right to release,
      modify or otherwise change the security or collateral Creditor may hold, or
      to
      release or modify the liability of any of the undersigned signor(s) or of any
      other surety or guarantor of Debtor’s Obligations it being agreed that Creditor
      may take such action in regard to such security or collateral or sureties or
      guarantors as Creditor in its sole discretion may deem advisable. It is further
      agreed that upon receipt of notice of termination, Creditor is under no
      obligation to take any steps to enforce or collect Debtor’s Obligations and
      Creditor’s failure to take any steps to enforce or collect Debtor’s Obligations
      shall not affect Guarantor’s liability herein for all Obligations of Debtor to
      Creditor as of the effective date of the termination or as to any renewals,
      extensions or modifications or changes in the form of evidence of those
      Obligations.

    

    It
      is
      further agreed that the Guarantor’s liability under this Continuing Guaranty
      shall not be affected or impaired by any failure of Creditor to realize for
      any
      reason, upon any property, securities, collateral, endorsements or guaranties,
      nor by any alteration of any contract express or implied, nor by any change
      in
      Debtor, by death, dissolution, withdrawal, or otherwise, but Guarantor agrees
      to
      pay in any event the entire ultimate balance of Debtor’s Obligations (including
      principal, interest, attorney fees and costs of collection), now or hereafter
      due or owing by Debtor to Creditor. Creditor shall, at no time, and under no
      circumstances, be bound to resort to any collateral, securities, endorsements
      or
      guaranties now or hereafter held by Creditor as security, indemnity, or
      otherwise, the undersigned Guarantor being bound to pay by this Continuing
      Guaranty to the same extent as and in solido with Debtor, and said Guarantor
      specifically waives the right and the benefits of demanding division and
      discussion.

    

    Guarantor
      hereby waives any formal acceptance and waives notice of the acceptance of
      this
      Continuing Guaranty by Creditor, and Guarantor also waives notice of any loans,
      advances, discounts, or credits that may be made to Debtor, it being the
      intention of Guarantor that Creditor shall have the right to make loans,
      advances, and discounts, and to give credit to the Debtor on the faith hereof
      without notice to Guarantor.

    

    Guarantor
      hereby also waives notice of all defaults by said Debtor or others, and of
      all
      things now existing, or hereafter occurring in any dealings between or among
      Creditor, Debtor and others.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
      liability of Guarantor for payment shall be in solido with Debtor, and as to
      each undersigned Guarantor, if there be more than one, each shall be and shall
      remain obligated to Creditor in the full amount set forth herein. Creditor
      may
      obtain other guaranties for Debtor in whole or in part, and may release the
      guarantors or any of them in whole or in part without affecting the liability
      of
      any Guarantor under this Continuing Guaranty. Each of the undersigned signors
      waives and renounces as to each other and any other guarantors and/or sureties
      of Debtor’s Obligations, the right of demanding, and the benefits of, division
      and discussion.

    

    This
      agreement, regardless where actually signed, shall be construed under and
      governed by the laws of the State of Louisiana, and Guarantor consents to the
      personal jurisdiction of any federal or state court in Louisiana, if suit is
      filed to enforce this guaranty agreement.

    

    In
      the
      event this Continuing Guaranty is
      referred to an attorney at law for collection by suit, or otherwise, Guarantor
      will also owe and pay reasonable attorney fees relating to such collection
      efforts. 

    

    THUS
      DONE, READ AND SIGNED in Los
      Angeles ,
      _____California_________,
      on the 28th 
      day of
      _____
      June_ ,
      2007.
      

     

    
      	WITNESSES:	 	 	PAYMENT GUARANTEED
	 	 	 	 
	 	 	 	GUARANTOR:
              
	/s/ Heng
              Chuk
              	 	 	Allegro
              Biodiesel
              Corporation 
	
              
Heng
              Chuk	 	 	
            
	(Print Name) 	 	 	 
	 	 	By:	/s/ W. Bruce Comer, III 
	 	 	 	
              
W.
              Bruce Comer, III _ CEO_
	/s/ Michael Hakim 	 	 	Duly Authorized (Title)
	
              
Michael
              Hakim	 	 	 
	(Print Name)

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