AMENDED OPTION TO PURCHASE REAL PROPERTYOption to Purchase Real Property • April 17th, 2007 • Agassiz Energy, LLC • Industrial organic chemicals • Minnesota
IN CONSIDERATION of the sum of One Hundred Thousand Dollars ($100,000) ($25,000 payable on the execution of this Option Agreement; $35,000 payable on or before November 20, 2006; and $40,000 [plus interest at the rate of 6 percent per annum from November 15, 2006, to date of payment] on or before April 1, 2007), paid to Richard Scott Carroll and D’wana Jean Carroll, husband and wife, hereinafter referred to as “Sellers,” receipt of said $25,000 is hereby acknowledged, Sellers give and grant to Agassiz Energy, LLC, a Minnesota limited liability company, hereinafter referred to as “Purchaser,” and Purchaser’s successors and assigns, the exclusive option to purchase the real property of Sellers situated in the County of Polk, State of Minnesota, particularly described as:
AMENDMENT/EXTENSION OF OPTION TO PURCHASE REAL PROPERTYOption to Purchase Real Property • April 17th, 2007 • Agassiz Energy, LLC • Industrial organic chemicals
THIS AMENDMENT/EXTENSION dated this 30 day of March, 2007, by and between David M. Czech and Delores R. Czech, husband and wife, hereinafter referred to as “Sellers,” and Agassiz Energy, LLC, a Minnesota limited liability company, hereinafter referred to s “Purchaser”;
PROMISSORY NOTEPromissory Note • April 17th, 2007 • Agassiz Energy, LLC • Industrial organic chemicals
FOR VALUE RECEIVED, the undersigned, Agassiz Energy, LLC, a Minnesota limited liability company, with its principal place of business at 510 County Road 71, Valley Technology Park, Crookston, Minnesota, 56716 (“Borrower”) hereby agrees and promises to pay to the order of (“Holder”), at or such other place as Holder may from time to time designate, the principal sum of Dollars ($ ) (the “Principal Balance”) together with interest on the unpaid principal balance until this Note is fully paid, at the rate of five and one/quarter percent (5.25%) per annum. Both the principal balance and interest thereon shall be payable in coin or currency which at the time of payment is legal tender for the payment of public or private debts in the United States of America.
