0001104659-10-014806 Sample Contracts

VARIABLE RATE NOTE
Variable Rate Note • March 17th, 2010 • Highwater Ethanol LLC • Industrial organic chemicals

This VARIABLE RATE NOTE is executed pursuant to a Construction Loan Agreement between BORROWER and BANK dated as of April 24, 2008, (the Construction Loan Agreement, together with all amendments, modifications and supplements thereto and all restatements and replacements thereof is called the “AGREEMENT”). All capitalized terms not otherwise defined in this note shall have the meanings provided in the AGREEMENT.

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FIXED RATE NOTE
Fixed Rate Note • March 17th, 2010 • Highwater Ethanol LLC • Industrial organic chemicals

This FIXED RATE NOTE is executed pursuant to a Construction Loan Agreement between BORROWER and BANKS dated as of April 24, 2008, (the Construction Loan Agreement, together with all amendments, modifications and supplements thereto and all restatements and replacements thereof is called the “AGREEMENT”). All capitalized terms not otherwise defined in this note shall have the meanings provided in the AGREEMENT.

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