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AMENDMENT TO THE CONSTRUCTION AND TERM LOAN SUPPLEMENT

Construction Loan Agreement

AMENDMENT 

TO THE 

CONSTRUCTION AND TERM LOAN SUPPLEMENT | Document Parties: ABE FAIRMONT, LLC | ADVANCED BIOENERGY, LLC | FARM CREDIT SERVICES OF AMERICA, FLCA You are currently viewing:
This Construction Loan Agreement involves

ABE FAIRMONT, LLC | ADVANCED BIOENERGY, LLC | FARM CREDIT SERVICES OF AMERICA, FLCA

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Title: AMENDMENT TO THE CONSTRUCTION AND TERM LOAN SUPPLEMENT
Date: 11/29/2006

AMENDMENT 

TO THE 

CONSTRUCTION AND TERM LOAN SUPPLEMENT, Parties: abe fairmont  llc , advanced bioenergy  llc , farm credit services of america  flca
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EXHIBIT 10.4

                        • Amendment No. RI0340T01A

AMENDMENT

TO THE

CONSTRUCTION AND TERM LOAN SUPPLEMENT

THIS AMENDMENT is entered into as of November 20, 2006, between FARM CREDIT SERVICES OF AMERICA, FLCA ("Farm Credit") and ABE FAIRMONT, LLC, Fairmont, Nebraska (the "Company").

BACKGROUND

Farm Credit and ADVANCED BIOENERGY, LLC, Fairmont, Nebraska ("Advanced") are parties to a Construction and Term Loan Supplement dated February 17, 2006 (such agreement, as previously amended, is hereinafter referred to as the "Supplement"). Further, the Company has formally assumed all obligations under the Supplement from Advanced. Farm Credit and the Company now desire to amend certain sections of the Supplement. For that reason, and for valuable consideration (the receipt and sufficiency of which are hereby acknowledged), Farm Credit and the Company agree that the following sections of the Supplement are hereby amended to read as follows:

1. Section 3 of the Supplement is hereby amended and restated to read as follows:

SECTION 3. Term. The term of the Commitment shall be from the date hereof, up to and including September 1, 2007, or such later date as Agent may, in its sole discretion, authorize in writing.

2.

 

Section 5(B) of the Supplement is hereby amended and restated to read as follows: SECTION 5. Interest and Fees.

 

(B) Loan Origination Fee. In consideration of the Commitment, the Company agrees to pay to Agent a loan origination fee in the amount of $470,000.00 (less all payments already received by Agent) upon the execution hereof.

3. Section 6 of the Supplement is hereby amended and restated to read as follows:

SECTION 6. Promissory Note. The Company promises to repay the loans as follows: (i) in 25 equal, consecutive quarterly installments of $2,250,000.00 with the first such installment due on February 20, 2008, and the last such installment due on February 20, 2014; and (ii) followed by a final installment in an


 
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