Document:

Exhibit 4.2

 

ADVANCED
BIOENERGY, LLC

 

SUBSCRIPTION AGREEMENT

 

Limited Liability Company Membership Units

 

$10.00 per
Unit

 

Minimum Investment of 2,500 Units
($25,000)

100 Unit Increments Thereafter
($1,000)

 

The undersigned
subscriber, desiring to become a member of Advanced BioEnergy, LLC (“Advanced
BioEnergy”), a Delaware limited liability company, with its principal place of
business at 137 N. 8th Street, Geneva, Nebraska 68361, hereby subscribes for
the purchase of the membership interests of Advanced BioEnergy, and agrees to
pay the related purchase price, identified below.

 

A.                                    SUBSCRIBER
INFORMATION. Please print your
individual or entity name and address. Joint subscribers should provide their
respective names. Your name and address will be recorded exactly as printed
below.

 

	
  1.

  	
  Subscriber’s Printed Name

  	
   

  	
   

  
	
  2.

  	
  Title, if applicable:

  	
   

  	
   

  
	
  3.

  	
  Subscriber’s Address:

  	
   

  	
   

  
	
   

  	
  Street

  	
   

  	
   

  
	
   

  	
  City, State, Zip Code

  	
   

  	
   

  
	
  4.

  	
  Email Address:

  	
   

  	
   

  

 

B.                                    NUMBER
OF UNITS PURCHASED. You must
purchase at least 2500 units. We presently have 634,650 units outstanding. The
maximum number of units to be sold is 6,732,500.

 

 

C.                                    PURCHASE PRICE. Indicate the
dollar amount of your investment (minimum investment is $25,000).

 

	
  1. Total
  Purchase Price

  ($10.00 Per Unit multiplied by

  the number in box B above.)

  	
   

  	
  =

  	
   

  	
  2. 1st
  Installment

  (10% of the Total Purchase

  Price)

  	
   

  	
  +

  	
   

  	
  3. 2nd
  Installment

  (90% of the Total Purchase

  Price)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  =

  	
   

  	
   

  	
   

  	
   

  	
  +

  	
   

  	
   

  
													

 

D.                                    GENERAL INSTRUCTIONS FOR SUBSCRIBERS:

 

You
should read the Prospectus dated                                 ,
2006 (the “Prospectus”) in its entirety including exhibits for a complete
explanation of an investment in Advanced BioEnergy, LLC. To subscribe, you
must:

 

INSTRUCTIONS
IF YOU ARE SUBSCRIBING PRIOR
TO THE COMPANY’S RELEASE OF FUNDS FROM ESCROW:  If you
are subscribing prior to the Company’s release of funds from escrow, you must
follow Steps 1 through 5 below:

 

1.                                       Complete
all information required in this Subscription Agreement, and date and sign the
Subscription Agreement on page 6 and the Member Signature Page to our
Third Amended and Restated Operating Agreement attached to this Subscription
Agreement as Exhibit A.

 

2.                                       Immediately
provide your personal (or business) check for the first installment of ten
percent (10%) of your investment amount made payable to Geneva State Bank,
escrow agent for Advanced BioEnergy LLC. You will determine this amount in
box C.2 on page 1 of this Subscription Agreement.

 

1

 

3.                                       Execute
the Promissory Note and Security Agreement on page 7 of this Subscription
Agreement evidencing your commitment to pay the remaining ninety percent (90%)
due for the Units that is attached to this Subscription Agreement and grant
Advanced BioEnergy, LLC a security interest in your Units.

 

4.                                       Deliver
each of the original executed documents referenced in Items 1 and 3 of these
Instructions, together with your personal or business check described in Item 2
of these Instructions to either of the following:

 

	
  Advanced BioEnergy, LLC

  	
   

  	
  Geneva State Bank

  
	
  137 N. 8th Street

  	
   

  	
  Attn: Aaron Schardt

  
	
  Geneva, Nebraska 68361

  	
   

  	
  896 “G” Street

  
	
   

  	
   

  	
  Geneva, Nebraska 68361

  

 

5.                                       Upon
written notice from Advanced BioEnergy, LLC stating that its sales of Units
have exceeded the Minimum Offering amount of $33,662,500, you must, within
twenty (20) days secure an additional personal (or business) check for the
second installment of ninety percent (90%) of your investment amount made
payable to Geneva State Bank, escrow agent for Advanced BioEnergy, LLC in
satisfaction of the Promissory Note and Security Agreement. You will determine
this amount in box C.3 on page 1 of this Subscription Agreement. You must
deliver this check to the same address set forth above in Instruction 4 within
twenty (20) days of the date of Advanced BioEnergy’s written notice. If
you fail to pay the second installment pursuant to the Promissory Note and
Security Agreement, Advanced BioEnergy shall be entitled to retain your first
installment and to seek other damages, as provided in the Promissory Note and
Security Agreement.

 

Your funds will be placed
in Advanced BioEnergy’s escrow account at Geneva State Bank. The funds will be
released to Advanced BioEnergy or returned to you in accordance with the escrow
arrangements described in the Prospectus. Advanced BioEnergy may, in its sole
discretion, reject or accept any part or all of your subscription. If
Advanced BioEnergy rejects your subscription, your Subscription Agreement and
investment will be promptly returned to you, plus nominal interest, minus escrow
fees. Advanced BioEnergy may not consider the acceptance or rejection of
your subscription until a future date near the end of this offering.

 

INSTRUCTIONS
IF YOU ARE SUBSCRIBING AFTER
THE COMPANY’S RELEASE OF FUNDS FROM ESCROW:  If you
are subscribing after the Company’s release of funds from escrow, you must
follow Steps 1 through 3 below:

 

1.                                       Complete
all information required in this Subscription Agreement, and date and sign the
Subscription Agreement on page 6 and the Member Signature Page to our
Third Amended and Restated Operating Agreement attached to this Subscription
Agreement as Exhibit A.

 

2.                                       Immediately
provide your personal (or business) check for the entire amount of your
investment (as determined in Box C.1 on page 1) made payable to “Advanced BioEnergy, LLC.”

 

3.                                       Deliver
the original executed documents referenced in Item 1 of these Instructions,
together with your personal or business check described in Item 2 of these
Instructions to the following:

 

Advanced
BioEnergy, LLC

137 N. 8th Street

Geneva, Nebraska 68361

 

If you are
subscribing after we have released funds from escrow and we accept your
investment, your funds will be immediately at-risk as described in the
Prospectus. Advanced BioEnergy may, in its sole discretion, reject or accept
any part or all of your subscription. If Advanced BioEnergy rejects your
subscription, your Subscription Agreement and investment will be returned to
you promptly, plus nominal interest, minus escrow fees. Advanced BioEnergy may not
consider the acceptance or rejection of your subscription until a future date
near the end of this offering.

 

You may direct
your questions to one of our directors listed below or to Advanced BioEnergy at
402-268-3101.

 

2

 

	
  Director

  	
   

  	
  Phone Number

  
	
  Troy Otte

  	
   

  	
  402-362-3885

  
	
   

  	
   

  	
   

  
	
  John E. Lovegrove

  	
   

  	
  402-366-4484

  
	
   

  	
   

  	
   

  
	
  Robert E. Bettger

  	
   

  	
  402-268-3101

  
	
   

  	
   

  	
   

  
	
  Larry L. Cerny

  	
   

  	
  402-759-1165

  
	
   

  	
   

  	
   

  
	
  Richard W. Hughes

  	
   

  	
  402-759-4615

  
	
   

  	
   

  	
   

  
	
  Keith E. Spohn

  	
   

  	
  402-947-8061

  

 

If you are a
resident of, or an entity with its principal place of business in, the state of
Florida, please contact only Robert E. Bettger or Troy Otte at their
telephone members listed above for more information as those directors have
been designated as our registered issuer-dealer agents in your state.

 

If you are a
resident of, or an entity with its principal place of business in, the state of
Kansas, please contact only Robert E. Bettger or Larry L. Cerny at
their telephone numbers listed above for more informaton as those directors
have been designated as our registered issuer-dealer agents in your state.

 

In Nebraska, we
have registered the directors listed above as issue-dealer agents selling the
offering.

 

E. Additional Subscriber Information. The
subscriber, named above, certifies the following under penalties of perjury:

 

	
   

  	
  1.

  	
  Form of
  Ownership. Check the appropriate box (one only) to indicate
  form of ownership. If the subscriber is a Custodian, Corporation,
  Partnership or Trust, please provide the additional information requested.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Individual

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Joint Tenants with
  Right of Survivorship (Both signatures must appear on Page 6.)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Corporation, Limited
  Liability Company or Partnership (Corporate Resolutions, Operating Agreement
  or Partnership Agreement must be enclosed.)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Trust

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Trustee’s Name:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Trust Date:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Other: Provide detailed
  information in the space immediately below.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  2.

  	
  Subscriber’s
  Taxpayer Information. Check the appropriate box if you are
  a non-resident alien, a U.S. Citizen residing outside the United States or
  subject to backup withholding.Trusts should provide their taxpayer
  identification number. Custodians should provide the minor’s Social Security
  Number. All individual subscribers should provide their Social Security
  Number. Other entities should provide their taxpayer identification number.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Check box if you are a
  non-resident alien

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Check box if you are a
  U.S. citizen residing outside of the United States

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  o

  	
   

  	
  Check this box if you
  are subject to backup withholding

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Subscriber’s Social
  Security No.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Joint Subscriber’s
  Social Security No.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Taxpayer Identification
  No.

  	
   

  	
   

  
													

 

3

 

	
   

  	
  3.

  	
  Member
  Report Address. If you would like duplicate copies of
  member reports sent to an address that is different than the address
  identified in section A, please complete this section.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  4.

  	
  State
  of Residence.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  State of Principal
  Residence:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  State where driver’s
  license is issued:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  State where resident
  income taxes are filed:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  State(s) in which you
  have maintained your principal residence during the past three years:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  a.

  	
  b.

  	
  c.

  
	
   

  	
   

  	
   

  
	
   

  	
  5.

  	
  Suitability
  Standards. You cannot invest in Advanced BioEnergy unless
  you meet one, or more, of the following suitability tests (a, or b) set
  forth below. Please review the suitability tests and check the box(es) next
  to the following suitability test that you meet. For husbands and wives
  purchasing jointly, the tests below will be applied on a joint basis.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  a. o
  I (We) have annual income from whatever source of at least $45,000 and
  a net worth of at least $45,000, exclusive of home, furnishings and
  automobiles; or

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  b. o I
  (We) have a net worth of at least $100,000, exclusive of home, furnishings
  and automobiles.

  
	
   

  	
   

  	
   

  
	
   

  	
  6.

  	
  Subscriber’s
  Representations and Warranties. You must read and certify
  your representations and warranties and sign and date this Subscription
  Agreement.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By signing below the
  subscriber represents and warrants to Advanced BioEnergy that he, she or it:

  
									

 

	
  initial

  here

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  a.

  	
  has received a copy of
  Advanced BioEnergy’s Prospectus dated
                         ,
  2006 and the exhibits thereto;

  
	
   

  	
   

  	
   

  
	
   

  	
  b.

  	
  has been informed that
  the Units of Advanced BioEnergy are offered and sold in reliance upon a
  federal securities registration; Colorado, Missouri, Nebraska, South Dakota,
  Iowa, Wisconsin, Kansas, Kentucky and Florida securities registrations; and
  exemptions from securities registrations in various other states, and
  understands that the Units to be issued pursuant to this subscription
  agreement can only be sold to a person meeting requirements of suitability;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  c.

  	
  has been informed that
  the securities purchased pursuant to this Subscription Agreement have not
  been registered under the securities laws of any state other than the States
  of Colorado, Missouri, Nebraska, South Dakota, Iowa, Wisconsin, Kansas and
  Florida, and that Advanced BioEnergy is relying in part upon the
  representations of the undersigned Subscriber contained herein;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  d.

  	
  has been informed that
  the securities subscribed for have not been approved or disapproved by the
  Colorado, Missouri, Nebraska, South Dakota, Iowa, Wisconsin, Kansas, Kentucky
  and Florida Securities Departments or any other regulatory authority, nor has
  any regulatory authority passed upon the accuracy or adequacy of the
  Prospectus;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  e.

  	
  intends to acquire the
  Units for his/her/its own account without a view to public distribution or
  resale and that he/she/it has no contract, undertaking, agreement or
  arrangement to sell or otherwise transfer or dispose of any Units or any
  portion thereof to any other person;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  f.

  	
  understands that there
  is no present market for Advanced BioEnergy’s membership units, that the
  membership units will not trade on an exchange or automatic quotation system,
  that no such market is expected to develop in the future and that there are
  significant restrictions on the transferability of the membership units;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  g.

  	
  has been encouraged to
  seek the advice of his legal counsel and accountants or other financial
  advisers with respect to the tax and other considerations relating to the
  purchase of units;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  h.

  	
  has received a copy of
  the Advanced BioEnergy Operating Agreement, dated June 30, 2005, and
  understands that upon closing the escrow by Advanced BioEnergy, the
  subscriber and the membership units will be bound by the provisions of the
  Operating Agreement which contains, among other things, provisions that
  restrict the transfer of membership units;

  
	
   

  	
   

  

 

4

 

	
   

  	
  i.

  	
  understands that the
  Units are subject to substantial restrictions on transfer under state
  securities laws along with restrictions in the Advanced BioEnergy Operating
  Agreement and agrees that if the membership units or any part thereof
  are sold or distributed in the future, the subscriber shall sell or
  distribute them pursuant to the terms of the Operating Agreement, and the
  requirements of the Securities Act of 1933, as amended, and applicable state
  securities laws;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  j.

  	
  meets the suitability
  test marked in Item 5 above and is capable of bearing the economic risk of
  this investment, including the possible total loss of the investment;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  k.

  	
  understands that
  Advanced BioEnergy will place a restrictive legend on any certificate
  representing any unit containing substantially the following language as the
  same may be amended by the Directors of Advanced BioEnergy in their sole
  discretion:

  
	
   

  	
   

  

 

THE TRANSFERABILITY OF
THE UNITS REPRESENTED BY THIS CERTIFICATE IS RESTRICTED. SUCH UNITS MAY NOT
BE SOLD, ASSIGNED, OR TRANSFERRED, NOR WILL ANY ASSIGNEE, VENDEE, TRANSFEREE,
OR ENDORSEE THEREOF BE RECOGNIZED AS HAVING ACQUIRED ANY SUCH UNITS FOR ANY
PURPOSES, UNLESS AND TO THE EXTENT SUCH SALE, TRANSFER, HYPOTHECATION, OR
ASSIGNMENT IS PERMITTED BY, AND IS COMPLETED IN STRICT ACCORDANCE WITH,
APPLICABLE STATE AND FEDERAL LAW AND THE TERMS AND CONDITIONS SET FORTH IN THE
AMENDED AND RESTATED OPERATING AGREEMENT AS AGREED TO BY EACH MEMBER.

 

THE SECURITIES
REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, OFFERED FOR SALE, OR
TRANSFERRED IN THE ABSENCE OF EITHER AN EFFECTIVE REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND UNDER APPLICABLE STATE SECURITIES LAWS,
OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH TRANSACTION IS
EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
UNDER APPLICABLE STATE SECURITIES LAWS.

 

	
   

  	
  l.

  	
  understands that, to
  enforce the above legend, Advanced BioEnergy may place a stop transfer
  order with its registrar and stock transfer agent (if any) covering all
  certificates representing any of the membership units;

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  m.

  	
  may not transfer
  or assign this subscription agreement, or any of the subscriber’s interest
  herein;

  
	
   

  	
   

  	
   

  
	
   

  	
  n.

  	
  has written his, her,
  or its correct taxpayer identification number under Item E.2 on this
  subscription agreement;

  
	
   

  	
   

  	
   

  
	
   

  	
  o.

  	
  is not subject to back
  up withholding either because he, she or it has not been notified by the
  Internal Revenue Service (“IRS”) that he, she or it is subject to backup
  withholding as a result of a failure to report all interest or dividends, or
  the IRS has notified him, her or it that he is no longer subject to backup
  withholding (Note this clause (p) should be crossed out if the backup
  withholding box in Item 2 is checked);

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  p.

  	
  understands that
  execution of the attached Promissory Note and Security Agreement will allow
  Advanced BioEnergy or its assigns to pursue the obligor for payment of the
  amount due thereon by any legal means, including, but not limited to,
  acquisition of a judgment against the obligor in the event that the
  subscriber defaults on that Promissory Note and Security Agreement; and

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  q.

  	
  Acknowledges that
  Advanced BioEnergy may retain possession of certificates representing
  subscriber’s Units to perfect its security interest in those Units.

  
	
   

  	
   

  

 

5

 

 

	
  Signature of
  Subscriber/Joint Subscriber:

  	
   

  
	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  Individuals:

  	
  Entities:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name of Individual Subscriber (Please Print)

  	
  Name of Entity (Please Print)

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signature of Individual

  	
  Print Name and Title of Officer

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name of Joint Individual Subscriber (Please Print)

  	
  Signature of Officer

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature
  of Joint Individual Subscriber

  	
   

  
									

 

 

ACCEPTANCE OF SUBSCRIPTION BY ADVANCED BIOENERGY, LLC:

 

Advanced BioEnergy, LLC
hereby accepts the subscription for the above Units.

 

Dated
this              
day
of                                ,
200     .

 

	
  ADVANCED
  BIOENERGY, LLC

  	
   

  
	
   

  	
   

  
	
  By: 

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  Its: 

  	
   

  	
   

  	
   

  
					

 

6

 

PROMISSORY NOTE AND SECURITY AGREEMENT

 

Date of Subscription Agreement:                              ,
200     .

 

$10.00 per Unit

 

Minimum
Investment of 2,500 Units ($25,000), 100 Unit Increments Thereafter ($1,000)

 

	
   

  	
   

  	
  Number of Units
  subscribed

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total Purchase
  Price ($10.00 per Unit multiplied by number of Units subscribed)

  
	
   

  	
   

  	
   

  
	
  (

  	
   

  	
  )

  	
   

  	
  Less Initial
  Payment (10% of Principal Amount)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Principal
  Balance

  
					

 

FOR VALUE RECEIVED, the
undersigned hereby promises to pay to the order of Advanced BioEnergy, LLC, a
Delaware limited liability company (“Advanced BioEnergy”), at its principal
office located at 137 N. 8th Street, Geneva, Nebraska 68361, or at such other
place as required by Advanced BioEnergy, the Principal Balance set forth above
in one lump sum to be paid without interest within 20 days following the
call of the Advanced BioEnergy Board of Directors, as described in the
Subscription Agreement. In the event the undersigned fails to timely make any
payment owed, the entire balance of any amounts due under this full recourse
Promissory Note and Security Agreement shall be immediately due and payable in
full with interest at the rate of 12% per annum from the due date and any
amounts previously paid in relation to the obligation evidenced by this
Promissory Note and Security Agreement may be forfeited at the discretion
of Advanced BioEnergy.

 

The undersigned agrees to
pay to Advanced BioEnergy on demand, all costs and expenses incurred to collect
any indebtedness evidenced by this Promissory Note and Security Agreement,
including, without limitation, reasonable attorneys’ fees. This Promissory Note
and Security Agreement may not be modified orally and shall in all
respects be governed by, construed, and enforced in accordance with the laws of
the State of Delaware.

 

The provisions of this
Promissory Note and Security Agreement shall inure to the benefit of Advanced
BioEnergy and its successors and assigns, which expressly reserves the right to
pursue the undersigned for payment of the amount due thereon by any legal means
in the event that the undersigned defaults on obligations provided in this
Promissory Note and Security Agreement.

 

The undersigned waives
presentment, demand for payment, notice of dishonor, notice of protest, and all
other notices or demands in connection with the delivery, acceptance, performance
or default of this Promissory Note and Security Agreement.

The undersigned grants to
Advanced BioEnergy, and its successors and assigns (“Secured Party”), a
purchase money security interest in all of the undersigned’s Membership Units
of Advanced BioEnergy now owned or hereafter acquired. This security interest
is granted as non-exclusive collateral to secure payment and performance on the
obligation owed Secured Party from the undersigned evidenced by this Promissory
Note and Security Agreement. The undersigned further authorizes Secured Party
to retain possession of certificates representing such Membership Units and to
take any other actions necessary to perfect the security interest granted
herein.

 

Dated:                                            ,
200     .

 

	
  OBLIGOR/DEBTOR:

  	
  JOINT OBLIGOR/DEBTOR:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Printed or Typed Name
  of Obligor

  	
  Printed or Typed Name
  of Joint Obligor

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
  (Signature)

  	
   

  	
  (Signature)

  
	
   

  	
   

  	
   

  
	
  Officer Title if
  Obligor is an Entity

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Address of Obligor

  	
   

  	
   

  
					

 

7

 

EXHIBIT “A”

 

MEMBER SIGNATURE PAGE

 

ADDENDA TO THE

THIRD AMENDED AND RESTATED OPERATING AGREEMENT OF ADVANCED BIOENERGY,
LLC

 

The undersigned does hereby represent and warrant that the undersigned,
as a condition to becoming a Member in Advanced BioEnergy, LLC, has received a
copy of the Third Amended and Restated Operating Agreement dated February 1,
2006, and, if applicable, all amendments and modifications thereto, and does
hereby agree that the undersigned, along with the other parties to the Third Amended
and Restated Operating Agreement, shall be subject to and comply with all terms
and conditions of said Third Amended and Restated Operating Agreement in all
respects as if the undersigned had executed said Third Amended and Restated
Operating Agreement on the original date thereof and that the undersigned is
and shall be bound by all of the provisions of said Third Amended and Restated
Operating Agreement from and after the date of execution hereof.

 

	
  Individuals:

  	
  Entities:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name of Individual Member (Please Print)

  	
  Name of Entity (Please Print)

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signature of Individual

  	
  Print Name and Title of Officer

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name of Joint Individual Member (Please Print)

  	
  Signature of Officer

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature of Joint
  Individual Member

  	
   

  
	
   

  	
   

  
	
  Agreed and Accepted on Behalf
  of the

  	
   

  
	
  Company and its Members:

  	
   

  
	
   

  	
   

  
	
  ADVANCED BIOENERGY, LLC

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  Its:Exhibit
4.5

 

[LETTERHEAD]

 

[DATE]

[NAME]

[ADDRESS]

[CITY, STATE, ZIP CODE]

 

RE: Advanced BioEnergy, LLC Investment

 

Dear Subscriber:

 

We hereby notify you that we have amended our Prospectus subsequent to
your subscription for units in Advanced BioEnergy, LLC. Our Amended Prospectus
is available and may be accessed on our website at www.advancedbioenergy.com.
The Amended Prospectus amends and restates portions of the Prospectus
previously provided to you regarding Advanced BioEnergy, LLC. Please review the
entire Amended Prospectus carefully to determine if you wish to make an
investment in Advanced BioEnergy, LLC. If after reviewing the enclosed Amended
Prospectus you still wish to confirm your investment in the project, please be
advised that Subscriptions of membership units of Advanced BioEnergy currently
exceed the minimum offering amount of $33,662,500. As such, pursuant to your
subscription agreement, please send a check postmarked within 20 calendar days
of receipt of this letter to the following address:

 

Advanced
BioEnergy, LLC

PO Box 424

Geneva, NE
68361

 

Please make your check payable to “Geneva State Bank- Escrow Agent for
Advanced BioEnergy, LLC. The amount of the check should be equal to the amount
listed on the enclosed invoice, a copy of which is included for your record. In
most cases the amount due will be 90% of your total investment.

 

Alternatively, if you no longer wish to invest with Advanced BioEnergy,
LLC, please complete the enclosed postcard and return it to our office and we
will promptly return your deposit together with any related interest earned
less escrow fees.  In no event will your
refund be less than the principal amount of your investment.

 

We have received an outstanding response from potential investors and
currently have 115 subscribers on a wait list. Please remit your balance due
promptly because after the 20 calendar day period expires, we will begin the
process of accepting investors from our wait list.

 

If you have any questions please do not hesitate to contact us. Thank
you.

 

Very Truly Yours,

 

 

The Board of Directors

Advanced BioEnergy, LLC

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