PROMISSORY NOTE (Renewal Note) (Fixed Rate)Promissory Note • May 15th, 2003 • Northern Growers LLC • Industrial organic chemicals • South Dakota
FOR VALUE RECEIVED, NORTHERN LIGHTS ETHANOL, LLC, a South Dakota limited liability company (“Borrower”), hereby promises to pay to the order of U.S. BANK NATIONAL ASSOCIATION, a national banking association (“Lender”), which term shall include any future holder hereof), at 141 N. Main Avenue, Sioux Falls, South Dakota, or at such other place as Lender may from time-to-time designate in writing, in lawful money of the United States of America, the principal sum of One Million Two Hundred Thousand Dollars ($1,200,000.00) or so much thereof as may be advanced hereunder, including all amounts due or incurred by Borrower in accordance with the terms of the Security Agreement between the Lender and Borrower dated December 15, 2002, and the terms of a Security Agreement between Lender and Borrower dated June 5, 2002, as each may subsequently be amended from time-to-time (the “Security Agreements”).
OPERATING AGREEMENT NORTHERN GROWERS, LLC April 1, 2003Operating Agreement • May 15th, 2003 • Northern Growers LLC • Industrial organic chemicals • South Dakota
