Exhibit 10.2
AMENDMENT
TO THE
CONSTRUCTION AND TERM LOAN SUPPLEMENT
THIS AMENDMENT is entered into as of April
23, 2008, between FARM CREDIT SERVICES OF AMERICA, FLCA
(“Farm Credit”) and
SUPERIOR ETHANOL, L.L.C., Superior, Iowa
(the “Company”).
BACKGROUND
Farm Credit and the Company are parties to a
Construction and Term Loan
Supplement dated March 15, 2007
(such agreement, as previously amended, is hereinafter referred to
as the “Supplement”). 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 July 15,
2008, or such later date as Agent may, in its sole discretion,
authorize in writing.
2.
Section 5(C) of the
Supplement is hereby added to read as follows:
SECTION 5. Interest and Fees.
(C)
Amendment Fee. In consideration of the
amendment, the Company agrees to pay to Agent on the execution
hereof a fe
