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EX-10.5 AMENDMENT TO THE CONSTRUCTION AND REVOLVING TERM LOAN SUPPLEMENT

Construction Loan Agreement

EX-10.5 AMENDMENT TO THE  CONSTRUCTION AND REVOLVING TERM LOAN SUPPLEMENT You are currently viewing:
This Construction Loan Agreement involves

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

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Title: EX-10.5 AMENDMENT TO THE CONSTRUCTION AND REVOLVING TERM LOAN SUPPLEMENT
Date: 11/29/2006

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EX-10.5

EXHIBIT 10.5

Amendment No. RI0340T02A

AMENDMENT

TO THE

CONSTRUCTION AND REVOLVING 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 Revolving 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. The Effective Date in the first paragraph of the Supplement is hereby amended to be June 1, 2007.

2. 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 Effective Date hereof (or, if requested by Company, such earlier date as Agent may, in its sole discretion, authorize in writing), up to and including December 1, 2016, or such later date as Agent may, in its sole discretion, authorize in writing.

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

SECTION 6. Promissory Note. The Company promises to repay on the dates set forth below, the outstanding principal, if any, that is in excess of the listed amounts:

 

 

 

 

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