Document:

Exhibit 4.1

                         COMMON STOCK PURCHASE WARRANTS

                       GREEN PLAINS RENEWABLE ENERGY, INC.

                Incorporated Under the Laws of the State of Iowa

No. - _________                                           _________ Common Stock
                                                               Purchase Warrants

                          CERTIFICATE FOR COMMON STOCK
                                PURCHASE WARRANTS

         GREEN PLAINS RENEWABLE ENERGY, INC., a Iowa corporation (the
"Company"), for value received, hereby certifies that ___________________, or
registered assigns (the "Holder"), is the registered owner of the above
indicated number of Warrants. One (1) Warrant entitles the Holder to purchase
one (1) share of the Company's common stock, $.001 par value (the "Common
Stock"). The Common Stock issuable upon an exercise of this Warrant is sometimes
herein referred to as the "Warrant Stock" and the shares of such Warrant Stock
are sometimes herein referred to as the "Warrant Shares."

         1. Purchase Price. The purchase price (the "Exercise Price") per share
for the Warrant Stock shall be $30.00 per share, subject to adjustment
hereunder, tendered to the Company as provided in Section 3 hereof.

         2. Rights to Exercise. The Holder shall have the right (but not the
obligation) to exercise the Warrant, in whole in or in part, to receive the
Warrant Stock, subject to adjustment hereunder, at any time on or before
December 31, 2006 (the "Exercise Period").

         3. Manner of Exercise. In order to exercise this Warrant, the Holder
shall surrender this Warrant certificate at the office of the Company, as set
forth below, or at such other address within the State of Iowa as the Company
shall designate in writing, together with a duly executed exercise form in the
form attached hereto and simultaneous payment in full (in cash or by certified
or official bank or bank cashier's check payable to the order of the Company or
by offset of obligations then owed by the Company to the Holder) of the purchase
price for the Warrant Stock.

         Upon surrender of this Warrant certificate in conformity with the
foregoing provisions, the Company shall promptly deliver to or upon the written
order of the Holder a stock certificate or certificates representing the Warrant
Stock.

         4. Adjustments upon Certain Events.

                  4.1 Stock Splits, Stock Combinations and Certain Stock
Dividends. If the Company shall at any time subdivide or combine its outstanding
Common Stock, or declare a dividend in Common Stock or other securities of the
Company convertible into or exchangeable for Common Stock, a Warrant shall,
after such subdivision or combination or after the record date for such
dividend, be exercisable for that number of shares of Common Stock and other
securities of the Company that the Holder would have owned immediately after
such event with respect to the Common Stock and other securities for which a
Warrant may have been exercised immediately before such event had the Warrant
been exercised immediately before such event. Any adjustment under this Section
4.1 shall become effective at the close of business on the date the subdivision,
combination or dividend becomes effective.

                  4.2 Adjustment for Reorganization, Consolidation, Merger. In
case of any reorganization of the Company (or any other corporation the stock or
other securities of which are at the time receivable upon exercise of a Warrant)
or in case the Company (or any such other corporation) shall merge into or with

<PAGE>

or consolidate with another corporation or convey all or substantially all of
its assets to another corporation or enter into a business combination of any
form as a result of which the Common Stock or other securities receivable upon
exercise of a Warrant are converted into other stock or securities of the same
or another corporation, then and in each such case, the Holder of a Warrant,
upon exercise of the purchase right at any time after the consummation of such
reorganization, consolidation, merger, conveyance or combination, shall be
entitled to receive, in lieu of the shares of Common Stock or other securities
to which such Holder would have been entitled had he exercised the purchase
right immediately prior thereto, such stock and securities which such Holder
would have owned immediately after such event with respect to the shares Common
Stock and other securities for which a Warrant may have been exercised
immediately before such event had the Warrant been exercised immediately prior
to such event.

                  4.3 Notice. In each case of an adjustment in the Common Stock
or other securities receivable upon the exercise of a Warrant, the Company shall
promptly notify the Holder of such adjustment. Such notice shall set forth the
facts upon which such adjustment is based.

         5. Loss, Theft, Destruction, or Mutilation. Upon receipt by the Company
of evidence reasonably satisfactory to it of the ownership of and the loss,
theft, destruction or mutilation of this Warrant and (in the case of loss,
theft, or destruction) of indemnity satisfactory to it (in the exercise of its
reasonable discretion), and (in the case of mutilation) upon surrender and
cancellation thereof, the Company will execute and deliver, in lieu thereof, a
new Warrant in the same form and tenor.

         6. Reservation of Shares Issuable on Exercise of Warrant. The Company
will at all times reserve and keep available out of its authorized shares,
solely for issuance upon the exercise of the Warrant, such shares of its Common
Stock and other securities as from time to time shall be issuable upon the
exercise of the Warrant.

         7. Miscellaneous.

                  7.1 Governing Law. This Warrant shall be construed in
accordance with, and governed by the substantive laws of, the State of Iowa.

                  7.2 Assignment. The benefit of this Warrant and of the Warrant
Stock represented hereby may be assigned and transferred by the Holder and its
assigns in accordance with any applicable securities laws and regulations;
however, the obligations of the Company and its successors may not be delegated
without the prior written consent of the Holder hereof. Subject to the
foregoing, this Warrant shall be binding upon and inure to the benefit of the
parties and their respective legal representatives, successors, agents, heirs
and assigns.

                  7.3 Enforcement. In the event of a dispute between the parties
arising under this Warrant, the party prevailing in such dispute shall be
entitled to collect such party's costs and expenses from the other party,
including without limitation court costs and reasonable attorneys' fees.

                  7.4 Notices. All notices, requests, consents and demands shall
be given to the Company at 9635 Irvine Bay Court, Las Vegas, NV 89147, and to
the Holder at the address shown on the records of the Company as provided by the
Holder. All notices, requests, consents and demands shall be given or made by
personal delivery, by confirmed air courier, by telecopy or by certified first
class mail, return receipt requested, postage prepaid, to the party addressed as
aforesaid. If sent by confirmed air courier, such notice shall be deemed to be
given on the earlier to occur of the date actually received by the addressee or
the business day on which delivery is made at such address as confirmed by the
air courier. If mailed, such notice shall be deemed to be given on the earlier
to occur of the date actually received by the addressee or the third business
day following the date upon which it is deposited in a first-class
postage-prepaid envelope in the United States mail addressed to such party's
business address. If given by telecopy, such notice shall be deemed to be given
on the business day actually received by the addressee.

                  7.5 Payment of Taxes. The Holder shall pay all documentary,
stamp or similar taxes and other government charges that may be imposed with
respect to the issuance, transfer or delivery of any Warrant Stock on exercise

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<PAGE>

of the Warrants. In the event the Warrant Stock are to be delivered in a name
other than the name of the Holder of the Warrant Certificate, no such delivery
shall be made unless the person requesting the same has paid the amount of any
such taxes or charges incident thereto.

                  7.6 Reduction in Exercise Price at Company's Option. The
Company's Board of Directors may, at its sole discretion, reduce the Exercise
Price of the Warrants in effect at any time either for the life of the Warrants
or any shorter period of time determined by the Company's Board of Directors.
The Company shall promptly notify the Registered Holders of any such reduction
in the Exercise Price.

         IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed as of the ____ day of ________________, 2005.

                                            GREEN PLAINS RENEWABLE ENERGY, INC.,
                                            a Iowa corporation

                                            By: ________________________________
                                            Its: President

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<PAGE>

                       GREEN PLAINS RENEWABLE ENERGY, INC.

The following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full according
to applicable laws or regulations:

         TEN COM - as tenants in common
         TEN ENT - as tenants by the entireties
         JR TEN - as joint tenants with right of survivorship and not as tenants
         in common
         UNIF TRANS MIN ACT - ____________ (Custodian for Minor) as custodian
         for __________ (name of minor) under the Uniform Transfers to Minors
         Act

Additional abbreviations may also be used though not in the above list.

                               FORM OF ASSIGNMENT

              (To be Executed by the Registered Holder if He or She
                   Desires to Assign Warrants Evidenced by the
                           Within Warrant Certificate)

         FOR VALUE RECEIVED ___________________________ hereby sells, assigns
and transfers unto _____________________________ _________________________
(_______) Warrants, evidenced by the within Warrant Certificate, and does hereby
irrevocably constitute and appoint _______________________________________
Attorney to transfer the said Warrants evidenced by the within Warrant
Certificates on the books of the Company, with full power of substitution.

Dated:____________________                           ___________________________
                                                              Signature

              Notice: The above signature must correspond with the name as
                      written upon the face of the Warrant Certificate in every
                      particular, without alteration or enlargement or any
                      change whatsoever.

Signature Guaranteed: __________________________________________

SIGNATURE MUST BE GUARANTEED BY A COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE
FOLLOWING STOCK EXCHANGES: NEW YORK STOCK EXCHANGE, PACIFIC COAST STOCK
EXCHANGE, AMERICAN STOCK EXCHANGE, OR MIDWEST STOCK EXCHANGE.

<PAGE>

                         FORM OF ELECTION TO PURCHASE

           (To be Executed by the Holder if Holder Desires to Exercise
                 Warrants Evidenced by the Warrant Certificate)

To Green Plains Renewable Energy, Inc.

         The undersigned hereby irrevocably elects to exercise
___________________________ (______) Warrants, evidenced by the within Warrant
Certificate for, and to purchase thereunder, ____________________________
(______) full shares of Common Stock issuable upon exercise of said Warrants and
delivery of $_________ and any applicable taxes.

         The undersigned requests that certificates for such shares be issued in
the name of:

PLEASE INSERT SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER

________________________________________________________________________________

________________________________________________________________________________
                         (Please print name and address)

________________________________________________________________________________

         If said number of Warrants shall not be all the Warrants evidenced by
the within Warrant Certificate, the undersigned requests that a new Warrant
Certificate evidencing the Warrants not so exercised be issued in the name of
and delivered to:

________________________________________________________________________________
                         (Please print name and address)

________________________________________________________________________________

Dated: _____________________                Signature:__________________________

     NOTICE:          The above signature must correspond with the name as
                      written upon the face of the within Warrant Certificate in
                      every particular, without alteration or enlargement or any
                      change whatsoever, or if signed by any other person the
                      Form of Assignment hereon must be duly executed and if the
                      certificate representing the shares or any Warrant
                      Certificate representing Warrants not exercised is to be
                      registered in a name other than that in which the within
                      Warrant Certificate is registered, the signature of the
                      holder hereof must be guaranteed.

Signature Guaranteed: ___________________________________________

SIGNATURE MUST BE GUARANTEED BY A COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE
FOLLOWING STOCK EXCHANGES: NEW YORK STOCK EXCHANGE, PACIFIC COAST STOCK
EXCHANGE, AMERICAN STOCK EXCHANGE, OR MIDWEST STOCK EXCHANGE.EXHIBIT 10.1

                               REAL ESTATE OPTIONS

                    OPTION AGREEMENT ON HILGER WEST PROPERTY

THIS OPTION AGREEMENT (the "Agreement") is made and entered into as of the 12th
day of November, 2005, (the "Commencement Date"), by and between Alberta A.
Bryan, Duane Hilger, Power of Attorney ("Optionor"), and Green Plains Renewable
Energy, Inc., ("Optionee").

                                    RECITALS

This Agreement is entered into upon the basis of the following facts and
intentions:

         A. Alberta A. Bryan owns approximately 22.0 acres, more or less, of
farm real estate ("Property") located in Fremont County, State of Iowa,
described as part of the North 1/2 of the Northwest 1/4 west of ditch, Section
25, Township 69 North, Range 40 West of the 5th PM, Fremont County, Iowa.

         B. Pursuant to this Agreement, Optionor intends to grant to Optionee an
option to acquire the Property on the terms and conditions set forth below.

         NOW, THEREFORE, in consideration of the covenants and conditions
hereinafter contained, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, and the promises of the
parties, and undersigned agree as follows:

         1. RECITATIONS. The above Recitals are incorporated herein by reference
and made a part of this agreement.

         2. GRANT OF OPTION. For and in consideration of the payment by Optionee
to Optionor of the Option Consideration shown in Paragraph 4 below, Optionor
hereby grants to Optionee an option (the "Option") to acquire the Property,
subject to the provisions, terms, and conditions stated herein.

         3. TERM OF OPTION. The term ("Term") of this Option shall commence at
8:00 a.m. on the Commencement Date and shall terminate and lapse for all
purposes at 5:00 p.m. Central Time on the 30th day of June, 2005, (the
"Expiration Date").

         4.       OPTION CONSIDERATION PAYMENT. In consideration for the Option
                  herein granted, Optionee hereby agrees to pay to Thien Farm
                  Management, Inc., as Escrow Agent for Optionor, concurrently
                  with the execution and delivery of this Agreement,the amount
                  of $ 1,000.00 (the "Option Consideration Payment").

         In the event Optionee fails, for any reason, to timely exercise the
Option herein granted, then (except as otherwise set forth in this Agreement)
the Option Consideration Payment placed into Escrow shall be distributed to
Optionor.

         In the event Optionee does exercise the Option contained herein, the
Option Consideration Payment placed into Escrow shall be a credit against the
total purchase price at closing.

         5. EXERCISE OF OPTION. Optionee shall exercise the Option herein
granted, if at all, by delivering written notice thereof (the "Notice of
Exercise") to Optionor at any time prior to the Expiration Date of the
Agreement. The Notice of Exercise must unconditionally state that Optionee is
exercising the Option herein granted. On the date of Optionor's receipt of the
Notice of Exercise, a binding contract on the terms set forth in this Agreement
shall exist between Optionor, as transferor, and Optionee, as transferee, for
the acquisition of the property.

<PAGE>

         6. ACQUISITION CONSIDERATION. The consideration for the acquisition of
said Property paid by Optionee shall be $ 7,500.00 per acre, exact acreage to be
determined by survey with the survey cost paid by Optionee.

         7. ESCROW. If the Option herein granted is timely exercised, then the
transfer and conveyance of the Property of Optionor described in Paragraph A of
recitations above, shall be consummated through an escrow established with Thien
Farm Management, Inc., with an address of 101 East Graham Avenue, Suite 1,
Council Bluffs, Iowa 51503, telephone number 712-328-3477; ATTN: Gary Thien
("Escrow Officer"). Each of the parties shall timely execute and deposit into
Escrow such instructions, documents, funds, and instruments as are required by
this Agreement or as the Escrow Officer shall reasonably require to consummate
the transaction contemplated hereby.

         8. Within thirty (30) calendar days of notice by the Optionee to the
Optionor of the intent to execute options, Optionor (at its sole cost and
expense) shall deliver to Optionee an abstract of title ("Abstract"), with true
and correct copies of all documents and instruments referred to therein as
exceptions to title to the Property. The Abstract shall bear certification date
of not earlier than the Commencement Date hereof. Optionor covenants and
warrants that, on the date the Escrow closes, it shall deliver marketable fee
simple title in and to the Property to Optionee, free and clear of all liens and
encumbrances, including unrecorded liens for labor or materials rendered for or
involved in the Property, and subject to no exceptions other than:

         a.       A lien for real estate taxes and assessments not yet
                  delinquent to be prorated as hereinafter provided;
         b.       Exceptions to title approved in writing by Optionee after its
                  receipt and review of the Abstract; and
         c.       The covenants, conditions, and restrictions as described in
                  this Agreement.

         In the event Optionee presents any reasonable objection to Optionor's
title evidenced by the Iowa Land Title Examination Standards to any condition of
title shown by the Abstract, Optionor shall have thirty (30) calendar days to
adequately address said condition. If the condition is not adequately addressed
(unless otherwise agreed between the parties), Optionee shall have the right to
terminate and cancel this Agreement, in which event Escrow (if theretofore
opened) shall be closed, this Agreement shall be terminated and canceled, the
Option Consideration Payment theretofore received by Optionor (if any) shall
immediately be returned to Optionee, and neither party shall have any further
obligation or liability one to the other. Upon giving notice of its intent to
exercise this option, Optionee shall, within thirty (30) days, tender, transfer
and convey the Acquisition Consideration described in Paragraph 6 above.

         9. TITLE INSURANCE. At the close of Escrow, the Escrow Officer shall be
prepared to issue to Optionee a Title Insurance Company ALTA Owner's Police of
Title Insurance, For B 1970 (amended on 10/17/70 and again on 12/6/85) ("Title
Policy") in the stated amount of the Purchase Price, showing fee title to the
Property vested in Optionee, subject to the exceptions to title specified in
Paragraph 8 herein above. The Title Policy shall also include all endorsements
available for issuance by the Title Insurance Company that are required by
Optionee.

         10. CLOSE OF ESCROW.

         a.       Date for Close of Escrow. Escrow shall close within 180 days
                  of Exercise of Option.
         b.       Deposit of Documents and Funds by Optionor and Optionee.
                  Optionor and Optionee shall deposit into Escrow the following
                  on or before the date Escrow closes:

                  (i) A duly executed and acknowledged Warranty Deed conveying
         Optionor's Property to Optionee, in the form of Exhibit "C" attached
         hereto and incorporated herein by reference;
                  (ii) The Title Policy or a written commitment to issue the
         Title Policies executed by the Title Insurance Company;

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<PAGE>

                  (iii) Materials of Optionor and Optionee relating to the
         Properties to be transferred, all of which shall be made available to
         Optionor and Optionee outside of Escrow; and
                  (iv) Such other documents, instruments, and funds as are
         required or necessary to consummate the transaction described herein
         and convey Marketable Legal Title in the Property to Optionor and
         Optionee.

                  c. Prorations. Except as otherwise provided herein, taxes and
other expenses, if any, affecting same shall be prorated as of 11:59 p.m. on the
day preceding the date Escrow closes. Liens, mortgages, pre-existing leases, and
assessments encumbering the same, which have been approved by Optionee and
Optionor in writing (or have been deemed approved) shall be assumed by Optionee.
If, for any reason, any amounts cannot be prorated on the date Escrow closes,
they will be prorated outside of Escrow as soon as said amounts may be
determined.

                  d.       Closing Costs. Optionee shall pay all (100%) of the
                           premium for the Title Insurance Policy on Optionor's
                           Property. Optionee shall pay all (100%) of any Escrow
                           fees, notary fees, recording costs, and other costs
                           or expenses of Escrow. Optionor shall pay all (100%)
                           of all costs to obtain marketable and clear title,
                           revenue stamps, and other cost normally charged to
                           seller.

         11. INSPECTION OF THE PROPERTY: RIGHT OF ACCESS. Parties agree that the
other party and its agents shall have access to the properties at all times
during the Term hereof for the purpose of conducting at their own expense, any
inspections as may be related to the purchase of the Property, and/or related to
securing any land use permits or approvals (including environmental and
hazardous waste audits and inspections) pertaining to the use, development, or
construction of improvements thereon following acquisition of said properties.
Both are hereby granted the right but not the obligation to inspect the Property
of the other and determine to their own satisfaction the condition of same,
including the soil condition, environmental requirements, and the presence or
absence of hazardous waste or toxic materials. Provided, however, that the
foregoing right of access is subject to the following:

                  a. Indemnification RE: Third Party Claims. Parties shall
indemnify, protect, defend, and hold the other free and harmless from claims and
liabilities of any and all kinds asserted by third persons which arise out of or
in connection with any inspection of the Properties conducted by or authorized
by parties or its servants, agents, invitee, designees, or independent
contractors; and

                  b. Indemnification RE: Damage Claims. Parties shall indemnify,
protect, defend, and hold each other free and harmless from any claims and
liabilities of any and all kinds, including, without limitation, property damage
and mechanics' liens, which may be suffered or incurred by the other, including
damage to growing crops set at their fair market value, which may be caused by
other parties or its servants, agents, designees, or independent contractors.

         12. CROPS. Parties agree that crops planted or growing on the premises
at the time of the transfer of the ownership of the respective premises between
Optionor and Optionee following an exercise of the Option by Optionee, shall
remain the property of the Optionor. Parties further agree that Optionee shall
have the right following the closing of escrow to enter upon the property
transferred to it to commence construction thereon of improvements contemplated
by it, but in such event Optionee shall reimburse Optionor for the fair market
value of any planted or growing crops damaged or destroyed by reason of such
construction, said value to be determined by an independent appraiser. Parties
further agree that the Optionor after closing escrow shall have the continued
right to access to the premises transferred to undertake and complete all
necessary field work until the crop thereon is harvested.

         13. REPRESENTATIONS AND WARRANTIES OF OPTIONOR AND OPTIONEE. Parties
hereby represent and warrant to each other as follows:

                  a. Neither party has received any notice from any person or
entity to the effect that the use and operation of the Properties are not
currently in full compliance with all applicable environmental, zoning, and land

                                       3
<PAGE>

use laws, and other applicable local, state, and federal laws and regulations,
including, without limitation, those laws and regulations relating to use,
handling, and disposal of hazardous waste and hazardous substances.

                  b. Parties, to the best of their knowledge, any tenant or
other third parties have not produced, manufactured, discharged, refined, or
disposed of on, under, or about the Properties any flammable materials or
wastes, toxic materials or wastes (including PCB's) (collectively, "Hazardous
Substances").

                  c. Parties have or will make available to each other, for
inspection and copying all of their books and records relating to the title of
the subject real estate. Parties agree that all copies of instruments,
agreements, and other documents provided by each other are true and correct
copies of such instruments, agreements, and documents in their possession.

                  d. Parties represent that there are no service contracts,
maintenance contracts, management contracts, warranties, guarantees, soil
report, plans, or similar documents or items relating to the Properties except
those that have been specifically disclosed each to each other in writing and
true copies of which have been or will be provided to the other.

                  e. Parties agree that there are no condemnation,
environmental, zoning, or other land-use regulation proceedings, either
instituted or planned to be instituted, which would affect the Properties, and
that parties have not received notice of any special assessment proceedings
affecting the Property.

                  f. Parties represent that there is no litigation pending
against either of them or basis therefor that arises out of the ownership of the
Properties that might detrimentally affect the use or operation of same or
adversely affect the ability to parties to perform their obligations under this
Agreement.

                  g. Optionor represents that it is owner of the real estate
described in Exhibit "A"; that this Purchase Agreement and all documents
executed by Optionor which are to be delivered to Optionee at the closing are or
at the time of the closing will not violate any provisions of any agreement or
judicial order of which Optionor is a party or to which Optionor or the Property
is subject. Optionee makes the same representations and agrees to the same
requirements.

                  h. Parties agree that at the time of the closing there will be
no outstanding contracts made by them for any improvements to their respective
Properties which have not been or will not be fully paid for, and parties shall
cause to be discharged all mechanics' or materialmen's liens arising from any
labor or materials furnished to their respective Properties prior to the time of
the closing.

         14. LAND USE PLANNING AND COOPERATION. During the Term of this
Agreement, parties hereto shall have the right, without other party's prior
consent, to transmit any information related to the Property to be acquired
respectively, and to file any application with any governmental authority having
or asserting jurisdiction over the Property to be acquired, for the purpose of
seeking such land use approvals and development or construction authorizations
or both and permits (including, without limitations, environmental and zoning or
rezoning reviews and proceedings) as parties deem appropriate in the exercise of
its sole and absolute discretion. In the event any such transmittal of
information, or filing of an application, requires the consent of or signature
by or cooperation of the other party, other party hereby represents and warrants
that it shall timely provide said consent or signatures and cooperation, or
both.

         15. NOTICES. Whenever any notice is required or permitted to be given
under any provision of this Agreement, such notice shall be in writing, signed
by or on behalf of the person giving the notice, and shall be personally
delivered, telefaxed, or mailed by prepaid certified or registered mail, return
receipt requested, to the person or persons to whom such notice is to be given,
addressed to such person as set forth below:

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<PAGE>

                  If the Optionee:        Gary Thien, Vice President
                                          Green Plains Renewable Energy, Inc.
                                          101 East Graham Ave.
                                          Council Bluffs, Iowa  51503

                  If the Optionor:        Albert A. Bryan % of Duane Hilger
                                          3652 250th Street
                                          Farragut, Iowa  51639

         If telefaxed, such notice shall be deemed to have been effectively
given twenty-four (24) hours after the date transmitted; if mailed, such notice
shall be deemed to have been effectively given upon the earlier to occur of
receipt by the addressee or on the third (3rd) business day following the date
of mailing.

         16. ATTORNEYS' FEES. In the event any dispute between the parties
hereto should result in litigation, the prevailing party shall be reimbursed for
all reasonable costs, including but not limited to, reasonable attorney's fees.
This provision shall survive the termination or later rescission of this
Agreement.

         17. MISCELLANEOUS.

                  a. Invalidity of Provision. If any provision of this
Agreement, as applied to either party or to any circumstance, shall be adjudged
by a court of competent jurisdiction to be void or unenforceable for any reason,
the same shall in no way affect (to the maximum extent permissible by law) any
other provision of this Agreement, or the validity or enforceability for this
Agreement as a whole.

                  b. Amendments. No addition to or modification of any provision
contained in this Agreement shall be effective unless fully set forth in writing
signed by all parties.

                  c. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute but one and the same instrument.

                  d. Governing Law. The interpretation, construction, and
performance of this Agreement shall be governed by the laws of the State of Iowa
and any question arising thereunder shall be construed or determined according
to such law.

                  e. Binding Effect. This Agreement shall inure to the benefit
of and be binding upon the parties hereto and their respective successors and
assigns.

                  f. Additional Documents. Parties agree to execute such
additional documents, including escrow instructions, as may be reasonable and
necessary to carry out the provisions of this Agreement.

                  g. Entire Agreement. This Agreement, together with the
exhibits hereto and the documents referred to herein, constitutes the entire
agreement of the parties with respect to the subject matter hereof. Any prior
correspondence, memoranda, or agreements are replaced in their entirety by this
Agreement, the exhibits hereto, and the documents referred to herein.

                  h. Time of Essence. Time is of the essence in the performance
of each and every provision of this Agreement.

                  i. Continuation and Survival of Representations and
Warranties. All representations and warranties by the respective parties
contained herein or made in writing pursuant to this Agreement are intended to

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<PAGE>

and shall remain true and correct as of the time of close of Escrow, shall be
deemed to be material, and shall survive the execution and delivery of this
Agreement and the delivery of the deed and transfer of title. All statements
contained in any certificate or other instrument delivered at any time by or on
behalf of Optionor or Optionee in conjunction with the transaction contemplated
hereby shall constitute representations and warranties hereunder.

                  j. Real Estate Brokers. Each party warrants and represents to
the other that each shall indemnify and hold the other party harmless from any
dealing with regard to the Properties through or with any licensed real estate
broker or other person and specifically with respect to any claim of right to a
commission or finder's fee in this transaction or in any transaction related to
this transaction.

         18. If prior to the exercise of this Option, Optionor expends funds and
efforts in anticipation of the 2005 crop season, and Optionee then exercises the
Option, Optionee shall reimburse Optionor for all reasonable work and expenses.

         IN WITNESS WHEREOF, the parties have executed this Agreement on the day
and date first above written.

Optionee:

 /s/ Gary Thien
-------------------------------------
Gary Thien, Vice President
Green Plains Renewable Energy, Inc.

Date:  November 12, 2005

Optionor:

 /s/ Duane Hilger
-------------------------------------
Albert A. Bryan, By Duane Hilger, POA

Date: November 12, 2005

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