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AMENDMENT
TO THE
CONSTRUCTION AND TERM LOAN SUPPLEMENT
THIS
AMENDMENT is entered into as of May 12, 2009, between
FARM CREDIT SERVICES OF AMERICA, FLCA (“Farm
Credit”) and ABE FAIRMONT, LLC, Fairmont, Nebraska
(the “Company”).
Farm Credit and
the Company are parties to a Construction and Term Loan Supplement
dated December 24, 2008 (such agreement 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:
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1.
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Section 1 of the Supplement is
hereby amended and restated to read as follows:
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SECTION 1. The
Construction and Term Loan Commitment. On the terms and
conditions set forth in the MLA and this Supplement, Farm Credit
agrees to make construction loans to the Company from time to time
during the period set forth below in an aggregate principal amount
not to exceed, at any one time outstanding, $55,650,000.00 (the
“Commitment”). Under the Commitment, amounts borrowed
and later repaid may not be reborrowed.
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2.
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Section 6 of the Supplement is
hereby amended and restated to read as follows:
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SECTION 6.
Promissory Note. The Company promises to repay the loans as
follows: (1) in 20 equal, consecutive quarterly installments
of $2,600,000.00, with the first such installment due on
May 20, 2009, and the last such installment due on
February 20, 2014; and (2) followed by a final
installment in an amount equal to the remaining u
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