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CONTRIBUTION AGREEMENT

Contribution Agreement

CONTRIBUTION AGREEMENT | Document Parties: DAKOTA ETHANOL LLC | RENEWABLE PRODUCTS MARKETING GROUP, LLC You are currently viewing:
This Contribution Agreement involves

DAKOTA ETHANOL LLC | RENEWABLE PRODUCTS MARKETING GROUP, LLC

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Title: CONTRIBUTION AGREEMENT
Governing Law: Minnesota     Date: 8/14/2007

CONTRIBUTION AGREEMENT, Parties: dakota ethanol llc , renewable products marketing group  llc
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Exhibit 10.1

CONTRIBUTION AGREEMENT

THIS AGREEMENT , made and entered into this 1st day of April, 2007, by and between RENEWABLE PRODUCTS MARKETING GROUP, LLC (“RPMG”), and DAKOTA ETHANOL L.L.C..

WITNESSETH:

WHEREAS , RPMG is a limited liability company formed for the purpose of marketing ethanol for its Members and others; and

WHEREAS , DAKOTA ETHANOL L.L.C. produces or is constructing a facility to produce ethanol products located at Wentworth SD and is desirous of becoming a Member of RPMG and RPMG is desirous of having DAKOTA ETHANOL L.L.C. become a Member.

NOW, THEREFORE , in consideration of the mutual covenants and promises herein contained, the parties agree as follows:

1.                                       Membership .  As of 1 st  April , 2007, DAKOTA ETHANOL L.L.C. is hereby admitted as a Member of RPMG, having an initial Membership Interest of 9.0909%.  RPMG agrees that Schedule A to the RPMG Member Control Agreement shall be revised as set forth in Exhibit A to this Agreement.  RPMG acknowledges that the Members have approved the admission of DAKOTA ETHANOL L.L.C. as required by the Member Control Agreement between the Company and its Members.

2.                                       Consideration .  In consideration for its Membership in RPMG, DAKOTA ETHANOL L.L.C. shall make the following capital contribution:

a.                                        An initial contribution of $105,000, receipt of which is hereby acknowledged;

b.                                        An additional $500,000 to be paid on a monthly basis in an amount equal to $0.0075 multiplied by the total gallons of ethanol production sold by RPMG for DAKOTA ETHANOL L.L.C. during the month;

c.                                        DAKOTA ETHANOL L.L.C. may at any time prepay all or any part of the outstanding balance of its capital contribution;

d.                                        The unpaid balance of the deferred capital contribution is due and payable to RPMG irrespective of DAKOTA ETHANOL L.L.C.’s continuation as a member of, or using the marketing services of RPMG, and shall become immediately due and payable if DAKOTA ETHANOL L.L.C. ceases to be a member of RPMG for any reason, including termination of the Member Ethanol Fuel Marketing Agreement.

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3.                                       Other Agreements .  As a condition to its admission as a M



 
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