Preview | Option Agreement |

WHEREAS, Grantor owns certain property located in Gibson City, Ford County, Illinois, as legally described in attached EXHIBIT A (the Real Estate), and desires to grant One Earth Energy an option to purchase approximately thirty-five (35) acres (subject to survey) of such Real Estate (the Option Property) upon the general terms and conditions set forth herein.

1. Option; Term; Exercise. Grantor hereby grants One Earth Energy an option (the Option) to purchase the Option Property upon the terms and conditions set forth herein. The term of the Option shall be for a period of one (1) year, commencing on the date hereof. The Option may be exercised by One Earth Energy by written notice to Grantor at any time during the Option Period. In the event that One Earth Energy does not timely exercise the Option, the Option shall become null and void, and except as hereafter set forth, the parties shall have no continuing obligations hereunder.

2. Option Price; Termination. The option price (the Option Price) is Ten Thousand Dollars ($10,000.00), and shall be paid to Grantor upon Grantors execution of this Agreement. If One Earth Energy exercises the Option, the Option Price shall be applied to the Purchase Price. If the Option is not exercised, except as otherwise provided herein, the Option Price shall be forfeited by One Earth Energy.

3. Purchase Price. The purchase price (the Purchase Price) for the Option Property shall be six thousand four hundred dollars ($6,400.00) per acre, and shall be payable at Closing (as hereinafter defined), with adjustments and prorations for customary closing costs such as real estate taxes, transfer taxes, utilities and other matters. One Earth Energy shall bear responsibility for the costs of title insurance and transfer taxes at Closing.

4. Right to Access Property. Grantor shall permit One Earth Energy and its designees access to the Real Estate and the Option Property to prepare the survey referred to in Section 5 below and to perform soil borings and other due diligence during the Option Period. One Earth Energy and its designees shall provide Grantor with satisfactory evidence of liability insurance and shall hold Grantor harmless from and against any claim for property damage (including, without limitation, crop or tile damage) or personal injury resulting therefrom.

5. Survey. Upon One Earth Energys exercise of the Option, One Earth Energy, at its sole expense, shall have the Real Estate surveyed to precisely describe the Option Property.

6. Taxes and Assessments; Risk of Loss. Grantor shall pay all real estate taxes that are a lien on the Option Property and all those that are due and payable in the fiscal year of Closing. Grantor shall give One Earth Energy a credit at Closing for Grantors prorated share of the real estate taxes for the fiscal year in which Closing occurs, based upon the Closing Date and the last known actual real estate taxes payable according to public record. One Earth Energy shall pay all other real estate taxes. Grantor shall pay all special assessments which are a lien on the Option Property as of the Closing Date. One Earth Energy shall pay all other special assessments. Risk of loss shall remain with Grantor until Closing. Grantor agrees to maintain existing insurance until Closing.

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