Document:

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                                                                    Exhibit 10.7

                           WARRANT PLACEMENT AGREEMENT

     WARRANT PLACEMENT AGREEMENT (this "Agreement") made as of this 5th day of
April 2006 among Energy Services Acquisition Corp., a Delaware corporation (the
"Company") and the persons set forth at Schedule A (the "Purchasers").

     WHEREAS, the Company intends to file with the Securities and Exchange
Commission ("SEC") a registration statement on Form S-1, (the "Registration
Statement"), in connection with the Company's initial public offering (the
"IPO") of up to 10,000,000 units, each unit ("Unit") consisting of one share of
the Company's common stock, $.0001 par value (the "Common Stock"), and two
warrants (the "Warrants"), each Warrant to purchase one share of Common Stock;
and

     WHEREAS, the Company desires to sell in a private placement to the
Purchasers (the "Placement") an aggregate of 3,076,923 Warrants (the "Placement
Warrants") substantially identical to the Warrants being issued in the IPO
pursuant to the terms and conditions hereof and as set forth in the Registration
Statement, except that the Placement Warrants to be issued in the Placement
shall not be registered under the Securities Act of 1933, as amended (the
"Securities Act");

     WHEREAS, the Purchasers desires to acquire the number of Placement Warrants
set forth opposite their name on Schedule A hereto;

     WHEREAS, the Warrants included in the Placement Warrants shall be governed
by the Warrant Agreement filed as an exhibit to the Registration Statement.

     WHEREAS, the Purchasers are entitled to registration rights with respect to
the Warrants comprising the Placement Warrants and the Common Stock underlying
such Warrants (collectively, the "Registrable Securities") on the terms set
forth in this Agreement.

     NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants hereinafter set forth, the parties hereto do hereby agree as follows:

     1. Purchase of Placement Warrants. The Purchasers hereby agree, directly or
through nominees, to purchase an aggregate of 3,076,923 Placement Warrants at a
purchase price of $0.65 per Placement Warrant, or an aggregate of $2,000,000
(the "Purchase Price"). Such purchases shall be in the names and amounts set
forth on Schedule A hereto.

     2. Closing. The closing of the purchase and sale of the Placement Warrants
(the "Closing") will take place at such time and place as the parties may agree
(the "Closing Date"), but in no event later than the date on which the SEC
declares the Registration Statement effective (the "Effective Date"). On the
Effective Date, the Purchasers shall pay the Purchase Price by wire transfer of
funds to an account maintained by the Company. Immediately prior to the closing
of the IPO, the Company shall deposit $2,000,000 of the Purchase Price into the
trust account described in the Registration Statement (the "Trust Account"). The
certificates for the Warrants comprising the Placement Warrants
shall be delivered to the Purchasers promptly after the closing of the IPO.

     3. Voting of Shares. If the Company solicits approval of its stockholders
of a Business Combination, the Purchasers shall vote all of the shares of the
Common Stock acquired by the Purchasers (i) pursuant to this Agreement, (ii) in
the IPO and (iii) in the aftermarket in accordance with a majority of the shares
voted by the public shareholders in the IPO and therefore waive any redemption
rights they might have with respect to certain of such shares. As used herein, a
"Business Combination" shall mean an acquisition by merger, capital stock
exchange, asset or stock acquisition of, or similar business combination with,
one or more entities with agreements to acquire an operating business selected
by the Company.

     4. Waiver of Liquidation Distributions. In connection with the Placement
Warrants purchased pursuant to this Agreement, the Purchasers hereby waives any
and all right, title, interest or claim of any kind in or

<PAGE>

     2.2 Piggy-Back Registration.

to any liquidating distributions by the Company in the event of a liquidation of
the Company upon the Company's failure to timely complete a Business
Combination. For purposes of clarity, any shares of Common Stock purchased in
the IPO or the aftermarket by the Purchasers shall be eligible to receive any
liquidating distributions by the Company.

     5. Lock-Up Agreement. The Purchasers shall not sell, assign, hypothecate,
or transfer any of the Warrants purchased pursuant to this Agreement until
the consummation of a Business Combination.

     6. Representations and Warranties of the Purchasers. Each Purchaser hereby
represents and warrants to the Company that:

     6.1 The Purchaser is an "accredited investor" as that term is defined in
Rule 501 of Regulation D promulgated under the Securities Act.

     6.2 The Placement Warrants are being acquired for the Purchaser's own
account, only for investment purposes and not with a view to, or for resale in
connection with, any distribution or public offering thereof within the meaning
of the Securities Act.

     6.3 The Purchaser has the full right, power and authority to enter into
this Agreement and this Agreement is a valid and legally binding obligation of
the Purchaser enforceable against the Purchaser in accordance with its terms.

     7. Registration Rights.

     7.1 Demand Registration. At any time and from time to time on or after the
date on which the Company has publicly announced that it has entered into a
letter of intent or made a comparable announcement with respect to a Business
Combination, the Purchasers or their transferees holding a majority-in-interest
of the Registrable Securities may make a written demand for registration under
the Securities Act of all or part of their Registrable Securities (a "Demand
Registration"). Any demand for a Demand Registration shall specify the number of
Registrable Securities proposed to be sold and the intended method(s) of
distribution thereof. The Company will notify all holders of Registrable
Securities of the demand, and each holder of Registrable Securities who wishes
to include all or a portion of such holder's Registrable Securities in the
Demand Registration (each such holder including shares of Registrable Securities
in such registration, a "Demanding Holder") shall so notify the Company within
fifteen (15) days after the receipt by the holder of the notice from the
Company. Upon any such request, the Demanding Holders shall be entitled to have
their Registrable Securities included in the Demand Registration. The Company
shall, as expeditiously as possible and in any event within sixty (60) days
after receipt of a request for a Demand, prepare and file with the SEC a
Registration Statement on any form for which the Company then qualifies or which
counsel for the Company shall deem appropriate and which form shall be available
for the sale of all Registrable Securities to be registered thereunder in
accordance with the intended method(s) of distribution thereof, and shall use
its best efforts to cause such Registration Statement to become effective as
promptly as practicable, but in no event prior to the consummation of the
Business Combination. The Company shall not be obligated to effect more than two
Demand Registrations in respect of Registrable Securities.

     7.2 "Piggyback" Registration Rights. Subject to the last sentence of this
Section 7.2, at any time after a Business Combination, if the Company shall
determine to proceed with the actual preparation and filing of a new
registration statement under the Securities Act in connection with the proposed
offer and sale of any of its securities by it or any of its security holders
(other than a registration statement on Form S-4, S-8 or other limited purpose
form), the Company will give written notice of its determination to the
Purchasers or their nominees. Upon the written request from a
majority-in-interest of the Purchasers, within 15 days after receipt of any such
notice from the Company, the Company will, except as herein provided, cause all
of the Registrable Securities covered by such request (the "Requested Stock")
held by the Purchasers making such request (the "Requesting Holders") to be
included in such registration statement (each, a "Piggy-Back Registration"), all
to the extent requisite to permit the sale or other disposition by the
prospective seller or sellers of the Requested Stock; provided, further, that
nothing herein shall prevent the Company from, at any time, abandoning or
delaying any registration. If any registration pursuant to this Section 7.2
shall be underwritten in whole or in part, the Company may require that the
Requested Stock be included in the underwriting on the same terms and conditions
as the securities otherwise being sold

                                        2

<PAGE>

through the underwriters. In such event, the Requesting Holders shall, if
requested by the underwriters, execute an underwriting agreement containing
customary representations and warranties by selling stockholders and a lock-up
on Registrable Securities not being sold. If in the good faith judgment of the
managing underwriter of such public offering the inclusion of all of the
Requested Stock would reduce the number of shares to be offered by the Company
or interfere with the successful marketing of the shares of stock offered by the
Company, the number of shares of Requested Stock otherwise to be included in the
underwritten public offering may be reduced pro rata (by number of shares) among
the Requesting Holders and all other holders of registration rights who have
requested inclusion of their securities or excluded in their entirety if so
required by the underwriter. To the extent only a portion of the Requested Stock
is included in the underwritten public offering, those shares of Requested Stock
which are thus excluded from the underwritten public offering and any other
securities of the Company held by such holders shall be withheld from the market
by the Holders thereof for a period, not to exceed 90 days, which the managing
underwriter reasonably determines is necessary in order to effect the
underwritten public offering. At such time as the provisions of the registration
rights agreement filed as an exhibit to the Registration Statement covering the
shares of Common Stock acquired by the Purchasers prior to the IPO may be
exercised, the exercise and procedural provisions of such agreement, rather than
the provisions of Sections 7.2, 7.3 and 7.4 hereof, shall govern the Registrable
Securities with respect to Piggy-Back Registrations.

     7.3 Registration Procedures. To the extent required by Sections 7.1 or 7.2,
the Company will:

     (a) prepare and file with the SEC a registration statement with respect to
such securities, and use its best efforts to cause such registration statement
to become and remain effective until the earlier of the date on which all of the
Registrable Securities included in the registration statement have been disposed
of in accordance with the intended method(s) of distribution set forth in such
Registration Statement or three years from the effective date;

     (b) prepare and file with the SEC such amendments to such registration
statement and supplements to the prospectus contained therein as may be
necessary to keep such registration statement effective until the earlier of the
date on which all of the Registrable Securities included in the registration
statement have been disposed of in accordance with the intended method(s) of
distribution set forth in such Registration Statement or three years from the
effective date;

     (c) furnish to the holders participating in such registration and to the
underwriters of the securities being registered such reasonable number of copies
of the registration statement, preliminary prospectus, final prospectus and such
other documents as such underwriters may reasonably request in order to
facilitate the public offering of such securities;

     (d) use its best efforts to register or qualify the securities covered by
such registration statement under such state securities or blue sky laws of such
jurisdictions as the holders may reasonably request in writing within 20 days
following the original filing of such registration statement, except that the
Company shall not for any purpose be required to execute a general consent to
service of process or to qualify to do business as a foreign corporation in any
jurisdiction wherein it is not so qualified;

     (e) notify the holders, promptly after it shall receive notice thereof, of
the time when such registration statement has become effective or a supplement
to any prospectus forming a part of such registration statement has been filed;

     (f) notify the holders promptly of any request by the SEC for the amending
or supplementing of such registration statement or prospectus or for additional
information;

     (g) prepare and promptly file with the SEC and promptly notify such holders
of the filing of such amendment or supplement to such registration statement or
prospectus as may be necessary to correct any statements or omissions if, at the
time when a prospectus relating to such securities is required to be delivered
under the Securities Act, any event shall have occurred as the result of which
any such prospectus or any other prospectus as then in effect would include an
untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein, in the light of the circumstances in which they
were made, not misleading; and

                                        3

<PAGE>

     (h) advise the holders, promptly after it shall receive notice or obtain
knowledge thereof, of the issuance of any stop order by the SEC suspending the
effectiveness of such registration statement or the initiation or threatening of
any proceeding for that purpose and promptly use its best efforts to prevent the
issuance of any stop order or to obtain its withdrawal if such stop order should
be issued.

     The Purchasers shall cooperate with the Company in providing the
information necessary to effect the registration of the Registrable Securities,
including completion of customary questionnaires.

     7.4 Expenses. The Company shall bear all costs and expenses incurred in
connection with any Demand Registration pursuant to Section 7.1, any Piggy-Back
Registration pursuant to Section 7.2, and all expenses incurred in performing or
complying with its other obligations under this Agreement, whether or not the
Registration Statement becomes effective, including, without limitation: (i) all
registration and filing fees; (ii) fees and expenses of compliance with
securities or "blue sky" laws (including fees and disbursements of counsel in
connection with blue sky qualifications of the Registrable Securities); (iii)
printing expenses; (iv) the Company's internal expenses (including, without
limitation, all salaries and expenses of its officers and employees); (v) the
fees and expenses incurred in connection with the exchange listing of the
Registrable Securities; (vi) National Association of Securities Dealers, Inc.
fees; (vii) fees and disbursements of counsel for the Company and fees and
expenses for independent certified public accountants retained by the Company
(including the expenses or costs associated with the delivery of any opinions or
comfort letters); (viii) the fees and expenses of any special experts retained
by the Company in connection with such registration and (ix) the fees and
expenses of one legal counsel selected by the holders of a majority-in-interest
of the Registrable Securities included in such registration. The Company shall
have no obligation to pay any underwriting discounts or selling commissions
attributable to the Registrable Securities being sold by the holders thereof,
which underwriting discounts or selling commissions shall be borne by such
holders. Additionally, in an underwritten offering, all selling shareholders and
the Company shall bear the expenses of the underwriter pro rata in proportion to
the respective amount of shares each is selling in such offering.

     8. Waiver of Claims; Indemnification The Purchasers hereby waive any and
all rights to assert any present or future claims, including any right of
rescission, against the Company, Ferris, Baker Watts Incorporated ("FBW") or the
other underwriters in the IPO with respect to their purchase of the Placement
Warrants, and the Purchasers agree to indemnify and hold the Company, FBW and
the other underwriters in the IPO harmless from all losses, damages or expenses
that relate to claims or proceedings brought against the Company, FBW or such
other underwriters by any Purchasers of the Placement Warrants or their
transferees, heirs, assigns or any subsequent holders of the Placement Warrants.

     9. Counterparts; Facsimile. This Agreement may be executed in any number of
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same instrument.
This Agreement or any counterpart may be executed via facsimile transmission,
and any such executed facsimile copy shall be treated as an original.

     10. Governing Law. This Agreement shall for all purposes be deemed to be
made under and shall be construed in accordance with the laws of the State of
West Virginia. Each of the parties hereby agrees that any action, proceeding or
claim against it arising out of or relating in any way to this Agreement shall
be brought and enforced in the courts of the State of West Virginia or the
United States District Court for the District of West Virginia, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the
parties hereby waives any objection to such exclusive jurisdiction and that such
courts represent an inconvenient forum.

                                        4

<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
5th day of April, 2006.

                                        ENERGY SERVICES ACQUISITION CORP.

                                        By: /s/ Marshall T. Reynolds
                                            ------------------------------------
                                        Name:  Marshall T. Reynolds
                                        Title: Chairman and Chief Executive
                                               Officer

                                        PURCHASER:

                                        /s/ Marshall T. Reynolds
                                        ----------------------------------------
                                        Name: Marshall T. Reynolds

                                        /s/ Jack Reynolds
                                        ----------------------------------------
                                        Name: Jack Reynolds

                                        /s/ Joe Williams
                                        ----------------------------------------
                                        Name: Joe Williams

                                        /s/ Ed Burns
                                        ----------------------------------------
                                        Name: Ed Burns

                                        /s/ Neal Scaggs
                                        ----------------------------------------
                                        Name: Neal Scaggs

                                        /s/ Douglas Reynolds
                                        ----------------------------------------
                                        Name: Douglas Reynolds

                                        5

<PAGE>

                                   SCHEDULE A

<TABLE>
<CAPTION>
                                   Number of
                                   Warrants
                                   ---------
<S>                    <C>         <C>
Marshall T. Reynolds   $1,749,997  2,692,303
Jack Reynolds          $   50,001     76,924
Neal Scaggs            $   50,001     76,924
Edsel R. Burns         $   50,001     76,924
Joseph L. Williams     $   50,001     76,924
Douglas Reynolds       $   50,001     76,924
</TABLE>exv4w3

 

EXHIBIT 4.3

ESCROW AGREEMENT

     This Escrow Agreement (the “Agreement”) dated as of      , 2006 is by
and between Agassiz Energy, LLC, a Minnesota limited liability company (the “Company”) and
                     (the “Escrow Agent”), (the “Escrow Agent” and the “Company” may also be
hereinafter referred to as the “Parties”).

RECITALS

     WHEREAS, the Company intends to conduct an offering of a minimum of 42,500,000 and a maximum
of 58,500,000 of its membership units (the “Units”) at a price of $1.00 per Unit, in minimum blocks
of twenty thousand (20,000) Units with a 20,000 Unit minimum purchase requirement, in an offering
in the States of North Dakota, South Dakota, Minnesota and possibly other states, made pursuant to
a federal registration under the provisions of the Securities Act of 1933, as amended (the
“Offering”);

     WHEREAS, the Company desires to retain the Escrow Agent to act as escrow agent and to hold the
funds received in the Offering pursuant to the terms hereof.

     NOW, THEREFORE, in consideration of the premises the Parties agree as follows:

     1. ACCEPTANCE OF APPOINTMENT: Escrow Agent hereby agrees to act as escrow agent under
this Agreement. The Escrow Agent shall have no duty to enforce any provision hereof requiring
performance by any other party hereunder.

     2. ESTABLISHMENT OF ESCROW ACCOUNT: An escrow account (the “Escrow Account”) is hereby
established with the Escrow Agent for the benefit of the investors in the Offering. Except as
specifically provided in this Agreement, the Escrow Account shall be created and maintained subject
to the customary rules and regulations of the Escrow Agent pertaining to such accounts.

     3. OWNERSHIP OF ESCROW ACCOUNT: Until such time as the funds deposited in the Escrow
Account (the “Deposited Funds”) shall equal the Minimum Escrow Deposit (as hereinafter defined),
all funds deposited in the Escrow Account by the Company shall not become the property of the
Company or be subject to the debts of the Company or any other person but shall be held by the
Escrow Agent solely for the benefit of the investors who have purchased Units in the Offering.

     4. ESCROW FEES: The Company hereby agrees to pay the Escrow Agent an advance payment
for ordinary services rendered hereunder in the amount of $___(the “Escrow Fee”). Thereafter,
Company shall pay to Escrow Agent a monthly fee during the term of this Agreement in the amount of
___% of the balance of the Escrow Account on the eighth day of each month divided by twelve (the
“Monthly Fee”). Notwithstanding the foregoing, the Monthly Fee shall in no event exceed the amount
of interest on the Escrow Account and shall be paid from interest only and not from principal.

 

 

     5. DEPOSIT OF PROCEEDS: All proceeds from sales of Units in the Offering shall be
delivered by the Company to the Escrow Agent, within forty-eight hours of the receipt thereof from
investors, endorsed (if appropriate) to the order of the Escrow Agent, together with an appropriate
written statement setting forth the name, address and social security number/taxpayer
identification number of each person or entity purchasing Units, the number of Units purchased, and
the amount paid by each such purchaser. Any such proceeds deposited with the Escrow Agent in the
form of uncollected checks shall be promptly presented by the Escrow Agent for collection through
customary banking and clearing house facilities. As the proceeds of each sale are deposited with
the Escrow Agent, the Company shall reserve the number of Units confirmed to the purchaser thereof
in connection with such sale. All such deposited proceeds are referred to herein as the “Escrow
Funds.”

     6. INVESTMENT OF ESCROW FUNDS: The Escrow Funds shall be credited by Escrow Agent and
recorded in the Escrow Account. The Escrow Agent shall be permitted, and is hereby authorized to
deposit transfer, hold and invest all funds received under this Agreement, including principal and
interest, in Federated Government Obligations Fund Institutional Shares #5 (Cusip 60934N104) or any
reasonably equivalent investment, at the Escrow Agent’s reasonable discretion. Any interest
received by Escrow Agent with respect to the Escrow Funds shall be paid pursuant to the terms of
this Agreement.

     7. TERMINATION OF ESCROW: This Agreement and the Escrow created hereunder shall be
terminated as provided in paragraph 8 hereof or as of the date (the “Termination Date”) one year
and one day following the date upon which the Securities and Exchange Commission authorizes the
Offering (the “Offering’s Effective Date”), provided; however, that if prior to Termination Date,
the Company has sold membership units equal to the minimum offering amount and the Company has
advised the purchasers of those membership units to remit to the Escrow Agent the balance of the
purchase price, then the Escrow may continue beyond the Termination Date until all Funds have been
paid and the conditions for releasing the Funds have been satisfied. In no event shall this date be
later than three (3) months following the Termination Date. The Company shall notify Escrow Agent
of the Offering’s Effective Date within thirty (30) days of the receipt of notice of the Offering’s
Effective Date from the Securities and Exchange Commission.

     8. DISPOSITION OF ESCROW FUNDS: The Escrow Agent shall have the following duties and
obligations under this Agreement:

	 	A.	 	The Escrow Agent shall send a written notice acknowledging the receipt of the
Deposited Funds every seven days to the Company.

	 	B.	 	The Escrow Agent shall give the Company prompt written notice when the
Deposited Funds equal $4,250,000 (exclusive of interest). Following receipt of such
notice, the Company will advise the purchasers of Units to remit to the Escrow Agent
the balance of the purchase price within thirty (30) days. Thereafter, Escrow Agent
shall give the Company written notice acknowledging the receipt of the Deposited Funds
every seven days. The Escrow Agent shall give the Company prompt written notice when the Deposited Funds total $42,500,000
(exclusive of interest).

 

 

	 	C.	 	At the time (and in the event) that: (a) the Deposited Funds shall, during the
term of this Agreement, equal $42,500,000 in subscription proceeds (exclusive of
interest) (the “Minimum Escrow Deposit”); (b) the Escrow Agent shall have received
written confirmation from the Company that the Company has obtained a written debt
financing commitment for debt financing ranging from a minimum of approximately
$50,000,000 to a maximum of $66,000,000; (c) the Company has affirmatively elected in
writing to terminate this Agreement; and (d) the Escrow Agent shall have provided the
states in which the Company has registered an affidavit stating that the foregoing
requirements (a), (b) and (c) of this subsection 8C have been satisfied, then this
Agreement shall terminate, and the Escrow Agent shall promptly disburse the funds on
deposit, including interest, to the Company to be used in accordance with the
provisions set out in the Registration Statement. The Company will deliver a copy of
the Registration Statement to the Escrow Agent upon execution of this Agreement. The
Escrow Agent will have no responsibility to examine the Registration Statement with
regard to the Escrow Account or otherwise, nor shall Escrow Agent have any duty to
ensure that Company complies with the Registration Statement. Upon the making of such
disbursement, the Escrow Agent shall be completely discharged and released of any and
all further responsibilities hereunder.
	 
	 	D.	 	In the event the Deposited Funds do not equal or exceed the Minimum Escrow
Deposit on or before the Termination Date or if the Company has not received a written
debt financing commitment as described herein on or before the Termination Date, the
Escrow Agent shall return to each of the purchasers of the Units in the Offering, as
promptly as possible after such Termination Date and on the basis of its records
pertaining to the Escrow Account: (a) the sum which each purchaser initially paid in on
account of purchases of the Units in the Offering and (b) each purchaser’s portion of
the total interest earned on the Escrow Account as of the Termination Date, (c) reduced
by the transaction fees provided in paragraph 10 hereof. Computation of any purchaser’s
share of the net interest earned will be a weighted average based on the proportion of
such purchaser’s deposit in the Escrow Account from the Offering to all such
purchasers’ deposits held by the Escrow Agent and upon the length of time in days such
deposit was held in the Escrow Account as compared to all such deposits. All
computations with respect to each purchaser’s allocable share of net interest shall be
made by the Escrow Agent, which determinations shall be final and conclusive. Any
amount paid or payable to a purchaser pursuant to this paragraph shall be deemed to be
the property of such purchaser, free and clear of any and all claims of the Company or
its agents or creditors; and the respective purchases of the Units made and entered
into in the Offering shall thereupon be deemed, ipso facto, to be cancelled without any
further liability of the purchasers or any of them to pay for the Units purchased. At
such time as the Escrow Agent shall have made all the payments called for in this
paragraph, the Escrow Agent shall be completely discharged and

 

 

	 	 	 	released of any and all further responsibilities hereunder, and the Units reserved
(as provided in paragraph 5) shall be released from such reservation, except that
Escrow Agent shall be required to prepare and issue a single IRS Form 1099 to each
investor in the event that funds are returned to investors.

     9. LIABILITY OF ESCROW AGENT: In performing any duties under the Escrow Agreement, the
Escrow Agent shall not be liable to the Company, any subscriber/purchaser or any Party for damages,
losses, or expenses, except for gross negligence or willful misconduct on the part of the Escrow
Agent. The Escrow Agent shall not incur any such liability for (I) any act or failure to act made
or omitted in good faith, or (II) any action taken or omitted in reliance upon any instrument,
including any written statement or affidavit provided for in this Agreement that the Escrow Agent
shall in good faith believe to be genuine, nor will the Escrow Agent be liable or responsible for
forgeries, fraud, impersonations, or determining the scope of any representative’s authority. In
addition, the Escrow Agent may consult with legal counsel in connection with the Escrow Agent’s
duties under this Agreement and shall be fully protected in any action taken, suffered, or
permitted by it in good faith in accordance with the advice of counsel. The Escrow Agent is not
responsible for determining and verifying the authority of any person acting or purporting to act
on behalf of any party to this Agreement.

     10. FEES AND EXPENSES: In the event the Deposited Funds do not equal or exceed the
Minimum Escrow Deposit before the Termination Date or the Company does not receive a written debt
financing commitment as described herein before the Termination Date, the Escrow Agent shall be
entitled to a fee of $10.00 per purchaser, which fees shall be paid from the interest on the Escrow
Account only and not from principal. In the event the Escrow Agent renders any service not provided
for in this Agreement, or if the Company requests a substantial modification of its terms, or if
any controversy arises, or if the Escrow Agent is made a party to, or intervenes in, any litigation
pertaining to this escrow or its subject matter, the Escrow Agent shall be reasonably compensated
for such extraordinary services and reimbursed for all costs, attorney’s fees, including allocated
costs of in-house counsel, and expenses occasioned by such default, delay, controversy or
litigation and the Escrow Agent shall have the right to retain all documents and/or other things of
value at any time held by the Escrow Agent in this escrow until such compensation, fees, costs and
expenses are paid. The Company promises to pay these sums upon demand. Unless otherwise provided,
the Company will pay all of the Escrow Agent’s usual
charges and the Escrow Agent may deduct such sums from the interest on the Escrow Account only and
not from principal deposited to the Escrow Account.

     11. CONTROVERSIES: If any controversy arises between the Parties to this Agreement, or
with any other Party, concerning the subject matter of this Agreement, its terms or conditions, the
Escrow Agent will not be required to determine the controversy or to take any action regarding it.
The Escrow Agent may hold all documents and funds and may wait for settlement of any such
controversy by final appropriate legal proceedings or other means as, in the Escrow Agent’s
discretion, the Escrow Agent may require, despite what may be set forth elsewhere in this
Agreement. In such event, the Escrow Agent will not be liable for interest or damage. Furthermore,
the Escrow Agent may at its option file an action of interpleader requiring the Parties to answer
and litigate any claims and rights among themselves. The Escrow Agent is

 

 

authorized to deposit with the clerk of the court all documents and funds held in escrow, except
all costs, expenses, charges and reasonable attorney fees incurred by the Escrow Agent due to the
interpleader action and which the Company agrees to pay. Upon initiating such action, the Escrow
Agent shall be fully released and discharged of and from all obligations and liability imposed by
the terms of this Agreement.

     12. INDEMNIFICATION OF ESCROW AGENT: The Company and its successors and assigns agree
jointly and severally to indemnify and hold the Escrow Agent harmless against any and all losses,
claims, damages, liabilities, and expenses, including reasonable costs of investigation, counsel
fees, including allocated costs of in-house counsel and disbursements that may be imposed on the
Escrow Agent or incurred by the Escrow Agent in connection with the performance of its duties under
this Agreement, including but not limited to any litigation arising from this Agreement or
involving its subject matter. The Escrow Agent shall have a first lien on the property and papers
held under this Agreement for such compensation and expenses.

     13. RESIGNATION OF ESCROW AGENT: The Escrow Agent may resign at any time upon giving
at least (30) days written notice to the Company provided, however, that no such resignation shall
become effective until the appointment of a successor escrow agent which shall be accomplished as
follows: The Company shall use its best efforts to obtain a successor escrow agent within thirty
(30) days after receiving such notice. If the Company fails to agree upon a successor escrow agent
within such time, the Escrow Agent shall have the right to appoint a successor escrow agent
authorized to do business in the state of Minnesota. The successor escrow agent shall execute and
deliver an instrument accepting such appointment and it shall without further acts, be vested with
all the estates, properties, rights, powers, and duties of the predecessor escrow agent as if
originally named as escrow agent. The Escrow Agent shall thereupon be discharged from any further
duties and liability under this Agreement.

     14. AUTOMATIC SUCCESSION: Any company into which the Escrow Agent may be merged or
with which it may be consolidated, or any company to whom the Escrow Agent may transfer a
substantial amount of its global escrow business, shall be the Successor to the Agent without the
execution or filing of any paper or any further act on the part of any of the Parties, anything
herein to the contrary notwithstanding.

15. MISCELLANEOUS:

	 	(a)	 	GOVERNING LAWS: This Agreement is to be construed and interpreted
according to Minnesota law.

	 	(b)	 	COUNTERPART: This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. The exchange of copies of this Agreement
and of signature pages by facsimile transmission shall constitute effective execution
and delivery of this Agreement as to the parties and may be used in lieu of the
original Agreement for all purposes. Signatures of the parties

 

 

	 	 	 	transmitted by facsimile shall be deemed to be their original signatures for all
purposes.

	 	(c)	 	NOTICES: All instructions, notices and demands herein provided for
shall be in writing and shall be deemed to have been duly given (a) on the date of
service if served personally on the party to whom notice is to be given; (b) on the
day of transmission if sent by facsimile transmission to the facsimile number given
below and telephonic confirmation of receipt is promptly obtained after completion of
transmission; (c) on the next day on which such deliveries are
made in Crookston, Minnesota, when delivery is to Federal Express or similar overnight courier or the
Express Mail service maintained by the United States Postal Service; or (d) on the
fifth day after mailing if mailed to the party to whom notice is to be given, by first
class mail, registered or certified, postage prepaid and properly addressed, return
receipt requested, to the party as follows:

	 	 	 
	If to the Company:

	 	If to the Escrow Agent:
	 
	 	 
	Agassiz Energy, LLC
	 	 
	510 County Road 71
	 	 
	Valley Technology Park
	 	 
	Crookston, MN 56716
	 	 
	(218) 281-8442
	 	 
	 
	 	 
	With a required copy to:
	 	 
	 
	 	 
	Todd A. Taylor, Esq.
	 	 
	Leonard, O’Brien
	 	 
	Spencer, Gale & Sayre, Ltd.
	 	 
	100 South Fifth Street
	 	 
	Suite 2500
	 	 
	Minneapolis, MN 55402
	 	 
	(612) 332-1030
	 	 

	 	(d)	 	AMENDMENTS: This Agreement may be amended or modified and any of the
terms, covenants, representations, warranties or conditions hereof may be waived, only
by a written instrument executed by the parties hereto, or in the case of a waiver, by
the party waiving compliance. Any waiver by any party of any condition or of the
breach of any provision, term, covenant, representation or warranty contained in the
Agreement, in any one or more instances, shall not be deemed to be nor construed as
further or continuing waiver of any such conditions or of the breach of any other
provision, term, covenant, representation or warranty of this Agreement.

	 	(e)	 	ENTIRE AGREEMENT: This Agreement contains the entire understanding
among the parties hereto with respect to the escrow contemplated hereby and supersedes
and replaces all prior and contemporaneous agreements and understandings, oral or
written, with regard to such escrow.

 

 

	 	(f)	 	NON-ENDORSEMENT: The Company represents and agrees that it has not made
nor will it in the future make any representation that states or implies that the
Escrow Agent has endorsed, recommended or guaranteed the purchase, value, or repayment
of the Securities offered for sale by the Company. The Company further agrees that it
will insert in any prospectus, offering circular, advertisement, subscription agreement
or other document made available to prospective purchasers of the Securities the
following statement in bold face type: “                     is acting only as an
escrow agent in connection with the Offering described herein, and has not endorsed,
recommended or guaranteed the purchase, value or repayment of such Securities,” and
will furnish to the Escrow Agent a copy of each such prospectus, offering circular,
advertisement, subscription agreement or other document at least 5 business days prior
to its distribution to prospective Subscribers.

The undersigned acknowledges that                      is acting only as an escrow agent in
connection with the offering of the Securities described herein, and has not endorsed, recommended
or guaranteed the purchase, value or repayment of such Securities.

     IN WITNESS WHEREOF, the parties hereto have hereunto affixed their signatures as of the day
and year first above written.

	 	 	 	 	 	 	 
	The Company	 	Escrow Agent
	 
	 	 	 	 	 	 
	Agassiz Energy, LLC	 	                                        
	 
	 	 	 	 	 	 
	By:

	 	 
 

	 	By:
	 	 
 

	 

	 	Donald Sargeant, President	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Its:
	 	 
 

341500

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