EXTENSION OF OPTION TO PURCHASE

Exhibit 10.2

Prepared by:
Xxxx Xxxxxxx, Xxxxxxxx xx Xxx, XXXX #0000, 000 Xxxxx Xxxxxxxx Xxxxxx, Post Office Xxx 000, Xxxx Xxxxxx, XX
00000, 712-472-2567

EXTENSION OF OPTION TO PURCHASE

     This Agreement is between Xxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, Xxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxx, husband and wife, Xxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, and Xxxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, hereinafter referred to as First Parties and Victory Renewable Fuels LLC, hereafter referred to as Second Party:

     WHEREAS, the Parties entered into an Option to Purchase on the following described real estate:

That part of the Southwest Quarter (SW 1/4) of Section Twenty (20), lying West of
the Great Northern Railroad Right-of-Way in Township Ninety-nine (99) North,
Range Forty-six (46) West of the 5^th P.M., Lyon County, Iowa.

and

     WHEREAS, the Parties desire to extend said Option to Purchase.

     IT IS AGREED as follows:

	1.		The Option shall be extended until July 1, 2007 unless extended in writing by the parties.
	2.		All other terms shall remain the same.
	3.		The Parties agree to execute a Memorandum of this Agreement to be recorded.

Dated this 29 day of December, 2006.

/s/ Xxxxx X. Xxxxxxxx		/s/ Xxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx		Xxxxx X. Xxxxxxxx
/s/ Xxxxx X. Xxxxxxxx		/s/ Xxxxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx		Xxxxxxx X. Xxxxxxxx

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/s/ Xxxx X. Xxxxxxxx		/s/ Xxxxx X. Xxxxxxxx
Xxxx X. Xxxxxxxx		Xxxxx X. Xxxxxxxx
/s/ Xxxxxx X. Xxxxxxxx		/s/ Xxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx		Xxxxx X. Xxxxxxxx

FIRST PARTIES

VICTORY RENEWABLE FUELS LLC

BY:

/s/ Xxxxx X. Xxxxxxx

Its

Pres.

BY:

Its

SECOND PARTY

STATE OF IOWA, COUNTY OF LYON, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 0000]

XXXXX XX XXXX, XXXXXX XX XXXX, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 2007]

-3-

STATE OF IOWA, COUNTY OF LYON, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 0000]

XXXXX XX XXXX, XXXXXX XX XXXX, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 0000]

XXXXX XX XXXX, XXXXXX XX XXXX, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxx X. Xxxxxxx and                 to me personally known, who being by me duly sworn [Handwritten: affirmed] did say that the persons are President and                 acknowledged the execution of said instrument to be the voluntary act and deed of said limited liability company, by it voluntarily executed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 2007]

Prepared by: Xxxx Xxxxxxx, 000 X. Xxxxxxxx Xx., Xxxx Xxxxxx, XX 00000 (712) 472-2567

MEMORANDUM OF OPTION TO PURCHASE

     An Extension of Option to Purchase has been granted to Victory Renewable Fuels, LLC, from Xxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, Xxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxx, husband and wife, Xxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, and Xxxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, for the following described real estate:

That part of the Southwest Quarter (SW 1/4) of Section Twenty (20), lying West of the
Great Northern Railroad Right-of-Way in Township Ninety-Nine (99) North, Range Forty-
Six (46) West of the 5^th P.M., Lyon County, Iowa.

A copy of the Option to Acquire can be obtained from Victory Renewable Fuels, LLC.

     This Option automatically lapses on July 1, 2007 unless extended in writing by the parties. If extended a Memorandum to that effect shall be recorded.

     Dated this 29 day of Dec., 2006.

/s/ Xxxxx X. Xxxxxxxx		/s/ Xxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx		Xxxxx X. Xxxxxxxx
/s/ Xxxxx X. Xxxxxxxx		/s/ Xxxxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx		Xxxxxxx X. Xxxxxxxx
/s/ Xxxx X. Xxxxxxxx		/s/ Xxxxx X. Xxxxxxxx
Xxxx X. Xxxxxxxx		Xxxxx X. Xxxxxxxx
/s/ Xxxxxx X. Xxxxxxxx		/s/ Xxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx		Xxxxx X. Xxxxxxxx

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STATE OF IOWA, COUNTY OF LYON, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 0000]

XXXXX XX XXXX, XXXXXX XX XXXX, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 0000]

XXXXX XX XXXX, XXXXXX XX XXXX, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 0000]

XXXXX XX XXXX, XXXXXX XX XXXX, ss:

     On this 29 of December, 2006, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxxx X. Xxxxxxxx and Xxxxx X. Xxxxxxxx, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed.

[Stamped: XXXXXX XXXXX]
[Commission Number 713856]		/s/ Xxxxxx Xxxxx
[MY COMMISSION EXPIRES]		NOTARY PUBLIC
[NOVEMBER 30, 2007]

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