EXHIBIT 10.15
SECOND AMENDMENT TO
REAL ESTATE OPTION AGREEMENT
THIS SECOND AMENDMENT is entered
into between Freeport Area Economic Development Foundation ,
an Illinois not-for profit Corporation, herein referred to as
“Optionor,” and Blackhawk Biofuels, LLC, herein
referred to as “Optionee.
RECITALS
A.
Optionor and Optionee have entered
into a Real Estate Option Agreement dated June 20, 2006, a copy of
said Agreement is attached hereto marked Exhibit A.
B.
Optionor and Optionee entered into
an Amendment to Real Estate Option Agreement dated November 27,
2006. The Amendment extended the Real Estate Option Agreement
until March 31, 2007. A copy of said Amendment is attached
hereto marked Exhibit B.
C.
The parties desire to further extend
the date for the exercise of the Option as set forth.
AGREEMENT
NOW, THEREFORE, the parties agree as
follows:
1.
Paragraph 3(b) of the Real Estate
Option Agreement is amended effective the date hereof to read as
follows:
This Option shall remain in
effect until June 30, 2007. Optionee may exercise this Option
at any time prior to said date.
2.
Except as herein set forth, all
other terms and conditions of the Real Estate Option Agreement
remain the same and in full force and effect.
IN WITNESS WHEREOF, the parties have
executed this Second Amendment.
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OPTIONOR:
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Dated: March 20, 2007
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FREEPORT AREA ECONOMIC
DEVELOPMENT FOUNDATION
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By
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/S/ Robert J. Skurla
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Robert Skurla, Executive Director
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OPTIONEE:
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Dated: March 20, 2007
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BLACKHAWK BIOFUELS, LLC
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By
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/S/ Ronald Mapes
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Ronald Mapes, Chair
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This Instrument Prepared by:
Attorney Dan G. Fishburn
Snow, Hunter, Whiton & Fishburn,
Ltd.
8 East Stephenson Street
Freeport, IL 61032 (815-235-2511)
REAL ESTATE OPTION
AGREEMENT
THIS AGREEMENT
entered into this 20
th day of June, 2006, between Freeport
Area Economic Development Foundation, an Illinois not-for-profit
corporation , herein referred to as “Optionor,”
whose address is 27 W. Stephenson Street, Freeport, Illinois 61032,
and Blackhawk Biofuels, LLC , herein referred to as
“Optionee, “ whose address is 22 S. Chicago Avenue,
Freeport, Illinois 61032.
1.
Consideration and Grant of
Option . In
consideration of the payments herein set forth from Optionee to
Optionor, Optionor hereby grants to Optionee an option to purchase
Lot 7 in the Replat of Mill Race Industrial Park (a copy of the
draft of the Replat is attached hereto marked at Exhibit A) which
is located in the Stephenson County Economic Development area in
Stephenson County, Illinois (herein referred to as the
“Property”), together with all easements and
appurtenances thereto, for the price and within the time specified
herein. This Real Estate Option Agreement is contingent upon
Optionor obtaining all necessary government approval and the filing
of the Replat of Mill Race Industrial Park in accordance with the
Replat which is attached hereto. In the event the Replat is
not approved, this Option Agreement shall be null and void and any
monies paid to Optionor by Optionee shall be refunded to
Optionee.
2.
Payment for Option
. Optionee shall pay Optionor
the sum of Eight Hundred Twenty-five Dollars ($825.00) per month on
the first of each month commencing August 1, 2006, and on the first
of each month thereafter. Said payment shall
