January 5, 2007 Brian Legried, President Cofina Financial 5500 Cenex Drive Inver Grove Heights, MN 55077 Dear Mr. Legried:
January 5, 2007
Xxxxx Xxxxxxx, President
Xxxxxx Financial
0000 Xxxxx Xxxxx
Xxxxx Xxxxx Xxxxxxx, XX 00000
Xxxxxx Financial
0000 Xxxxx Xxxxx
Xxxxx Xxxxx Xxxxxxx, XX 00000
Dear Xx. Xxxxxxx:
AgStar Financial Services, PCA, d/b/a ProPartners Financial
(“ProPartners”), Cofina Financial, LLC (“Cofina”) and CHS Inc.
(“CHS”) are parties to an Amended and Restated Loan Origination and
Participation Agreement dated October 31, 2006 (“Agreement”) whereby
Xxxxxx has agreed to originate and participate to ProPartners certain
loans under Xxxxxx’s agricultural production and processing financing
program (“the Program”) based on terms and conditions set forth in
the Agreement. All capitalized terms used herein and not otherwise
defined shall have the meanings given to them in the Agreement.
Cofina and ProPartners hereby agree that the Agreement shall be
amended as follows: All Participated Loans placed into the 15%
Recourse Pool that have a 50% first risk of loss guaranty by CI IS
shall have the ProPartners’ portion of the interest collected equal
to Prime Rate less 155 basis points instead of Prime Rate less 115
basis points for all other loans in the 15% Recourse Pool as cited in
Section 3.04 of the Agreement. The guaranty limits as defined in
Section 5.02(c) of the Agreement still apply to all 15% Recourse
Loans in total. The 50% first risk of loss guaranty by CHS is defined
in the Cofina Financial Loan Operating Agreement dated May 1, 2006
between Cofina and CHS.
Please acknowledge your agreement with the foregoing by
executing this letter agreement in the space provided below.
AGSTAR FINANCIAL SERVICES, PCA
D/B/A PROPARTNERS FINANCIAL
D/B/A PROPARTNERS FINANCIAL
By: |
||||||
Name:
|
||||||
Its:
|
||||||
Xxxxxx and acknowledged this day of January, 2007.
COFINA FINANCIAL,, LLC
By: |
||||||
Name:
|
||||||
Its:
|
||||||