Exhibit 10.2
SECOND AMENDMENT TO CONSTRUCTION LOAN AGREEMENT
This
Second Amendment to Construction Loan Agreement is dated as of the
18th day of July, 2007, and is by and between RED TRAIL ENERGY,
LLC, a North Dakota limited liability company
(“BORROWER”), and FIRST NATIONAL BANK OF OMAHA
(“BANK”), a national banking association established at
Omaha, Nebraska.
WHEREAS,
the BANK and BORROWER executed a written Construction Loan
Agreement dated as of July 25, 2002, which, together will all
amendments thereto, is collectively called the
“AGREEMENT”.
Now,
Therefore, in consideration of the AGREEMENT, and their mutual
promises made herein, BANK and BORROWER agree as follows:
1. Terms which are typed herein
as all capitalized words and are not defined herein shall have same
meanings as when described in the AGREEMENT.
2. Paragraph 1.23 (A) of the
AGREEMENT is hereby amended to read as follows, effective
immediately:
1.24
“LOAN TERMINATION DATE” means the earliest to occur of
the following: (i) as to the REVOLVING NOTE, July 17,
2008, as to FIXED RATE NOTE, VARIABLE RATE NOTE and as to LONG TERM
REVOLVING NOTE, a date which is five years subsequent to the
COMPLETION DATE, (ii) the date the OBLIGATIONS ar
