Exhibit 10.9


 


DISBURSING
AGREEMENT


 


THIS DISBURSING AGREEMENT (“Agreement”) is
made and entered into as of April 24, 2008 by and among Highwater Ethanol,
LLC, a Minnesota limited liability company (“Borrower”); First National Bank of
Omaha, a national banking association (“Lender”) as Administrative Agent for
the Banks, Homestead Escrow and Exchange Company, a South Dakota corporation (“Escrow
Company”) and Dakota Homestead Title Insurance Company (“Title Company”).


 


RECITALS:


 


A.            Borrower and the Banks have entered into a
Construction Loan Agreement dated of even date herewith (“Loan Agreement”),
pursuant to which the Banks will extend the Construction Loan (“Loan”) in the
total maximum amount of $50,400,000.00 for the development of the Project upon
the Land described on Exhibit A attached hereto (“Property”), and Lender
will extend to Borrower the other financial accommodations described in the
Loan Agreement.


 


B.            Title Company has issued a title insurance
commitment for a mortgagee’s title insurance policy (the “Title Policy”)
relating to Lender’s Mortgage on the Property as Collateral Agent for the
Banks, in the amount of $64,402,000.00, which is identified as Commitment No. HIGHWATER
ETHANOL.


 


C.            Borrower and Lender, as Administrative
Agent for the Banks, have requested the Escrow Company to supervise the
disbursement of Loan proceeds under the Loan Agreement, in accordance with the
terms thereof and of this Agreement.


 


AGREEMENT:


 


In consideration of the above recitals, of
the Banks’ agreement to lend funds to Borrower under the Loan Agreement, and of
the mutual agreements set forth below, the parties agree as follows:


 


1.             All capitalized terms not otherwise
defined in this Agreement have the meanings given to them in the Loan Agreement.
As used in this Agreement, the term “Advance” shall mean an advance under the
Construction Loan or other sources shown in the Total Project Cost Statement
referenced below, and Contractor shall mean Fagen, Inc. (“Fagen”) and any
other Subcontractor on the Project (excluding Subcontractors and material
suppliers Fagen employs in connection with the Project).


 


2.             Borrower shall submit to the Escrow
Company and Title Company a copy of the Total Project Cost Statement and
Construction Contract Cost Statement. If requested by Lender, the Escrow
Company or Title Company, Borrower shall also furnish to Lender, Title Company
and the Escrow Company a copy of the Design-Build Construction Contract with
Fagen (“Construction Contract”) and the contracts of any other Contractor known
to Borrower.


 

















 


Borrower shall keep the Escrow Company, Title Company and Lender
advised at all times of the names of all Contractors, and of the type of work,
materials or services and of the dollar amount covered by each of their
respective contracts relating to the Project to the extent known to Borrower. It
is understood that only Contractors whose names, contract descriptions and,
after a request therefor, contracts have been furnished to Lender, Title
Company and the Escrow Company, shall be entitled to receive Advances under
this Agreement. It is understood that Fagen will be responsible for directly
paying all its subcontractors and material suppliers Fagen employs in
connection with the Project.


 


3.             Borrower may obtain Advances for
disbursement to Contractors in an amount not to exceed (a) the total of
approved construction costs actually incurred and paid or owing by Borrower to
the date of such Draw Request for work performed and materials and equipment
incorporated in the Project, plus (b) the cost of materials or equipment
not incorporated in the Project but delivered to and suitably stored at the
Project site, plus (c) prepayments for materials or equipment for the
Project when prepayment is required by the manufacturer or supplier or when
such prepayment results in a material financial benefit to Borrower, less (d) prior
Advances for such approved construction costs from the Construction Loan or the
Borrower’s equity for such approved construction costs and less (e) any
retainage permitted to be withheld by Borrower in connection with an Advance
pursuant to the Construction Contract and the contracts of any other Contractor.
Lender shall not be required to make the final Advance for the payment of the
full amount of each Contractor’s contract until Lender, in its reasonable
discretion, is satisfied that all of the work covered by such contract has been
completed in accordance with the approved Plans, and all requirements set forth
in the Loan Agreement have been complied with in all material respects,
including, with respect to Fagen, the delivery of a certificate of completion
to Lender, Borrower, Title Company and the Escrow Company.


 


4.             Lender agrees that it will deliver the
executed Mortgage, when received by Lender, to the Title Company for recording.
Lender also agrees that it will Advance under the Loan Agreement through the
Escrow Company as provided in this Agreement, except for Advances made directly
to Borrower, any of which shall be made consistently with terms of the Loan
Agreement.


 


5.             Whenever Borrower desires to obtain an
Advance, Borrower shall submit to Lender a signed Draw Request in form
reasonably acceptable to Lender and the Escrow Company (for the purposes of
collecting lien waivers and providing the title insurance provided for in this
Agreement), with copies to the Independent Inspector and to Title Company, at
least ten (10) days prior to the date on which the requested Advance is to
be made (“Advance Date”), and complete any other preconditions to extension of
an Advance contained in the Loan Agreement, or any other Loan Document. The
Draw Request must be signed by Borrower’s authorized representative. Borrower
shall also simultaneously submit to the Lender, Title Company and Escrow
Company the following:


 


(a)           A waiver of mechanic’s lien and/or
materialman’s lien, executed by the applicable Contractor, in the amount of the
lienable costs of the Project covering liens for all work done and materials
supplied for which disbursement was made from the preceding Advance, in the
form required by Lender, Title Company and/or Escrow Company


 


2

















 


sufficient for Title Company to issue an
endorsement or update to the Title Policy insuring over mechanics’ and
materialmens’ liens as required in the Loan Agreement and as provided for
below, which, in the case of Fagen, is in the form attached to the Construction
Contract as Exhibit N. Such waivers shall be accompanied by a schedule
listing all disbursements made from the preceding Advance and the recipients
thereof.


 


(b)           Invoices, Construction Variance Report,
itemized list of lienable and nonlienable items and such other documents as may
be requested by Lender, the Title Company or the Escrow Company to establish
the cost or value of the improvements for which Advances are to be and have
been made, and the progress of construction of the Project, or as may be
required by the Loan Agreement, which, in the case of Fagen, shall be as set
forth in Section 10.2.2 of the Construction Contract.


 


The Escrow Company shall request a search of
the appropriate records from Title Company and Title Company shall conduct such
search. Title Company will issue and the Escrow Company will obtain from Title
Company an update of the Title Policy within five (5) days after receiving
the foregoing items, and the Escrow Company shall give Lender written notice if
any intervening liens, including, but not limited to mechanics’ liens, are
disclosed (other than those expressly listed in the Title Policy or subsequent
amendments thereto previously given to Lender). If any such intervening liens
or other matters, which in Lender’s reasonable judgment jeopardize the Banks’
security interest in the Project, are disclosed, the Escrow Company shall
refrain from making further disbursements until Lender notifies the Escrow
Company that such intervening liens or other matters have been waived by
Lender, satisfied or insured over by the Title Company in a manner acceptable
to Lender. Upon demand of Lender, Borrower shall cause any such liens or other
matters to be satisfied of record, as provided in the Loan Agreement. The
Escrow Company shall not be liable for any mechanic’s lien claims nor for
clearing any mechanic’s lien or other encumbrance whether of record or not. However,
the Escrow Company and/or Title Company shall promptly notify Lender if the
Escrow Company or Title Company believes any Advance has been made without
effective lien waivers from the Contractor or Contractors providing for such
goods or services as the Advance is intended to make payment.


 


On each Advance Date, if all the terms and
conditions of the Loan Agreement and this Agreement have been complied with by
Borrower, to the reasonable satisfaction of Lender, if no Event of Default
exists under the Loan Agreement, if Lender has approved the Draw Request, and
upon Lender’s receipt of each Bank’s respective portion of such Advance, Lender
shall advance to the Escrow Company, in a manner satisfactory to the Escrow
Company and Lender, the principal amount of the requested Advance (less any
required retainage and less amounts payable to and Advanced by Lender to
itself). The Escrow Company shall, as promptly as possible thereafter, if all
of the conditions of this Agreement have been complied with in a manner
satisfactory to the Escrow Company and Lender, and if the Escrow Company has
not received notice from Lender that an Event of Default exists under the Loan
Agreement, disburse the proceeds so received from Lender by delivering to the
applicable Contractor entitled to receive such proceeds, by check, wire
transfer, or automated clearinghouse transfer, the amounts set forth in such
Draw Request.


 


3

















 


6.             The provisions of this Agreement specified
in paragraph 5 shall not apply with respect to Construction Loan proceeds to be
disbursed for the items listed below, which may be disbursed in full  upon submission of a Draw Request listing such items signed
by Borrower or Lender, and/or the following special documentation, if any, to
Lender, Title Company and the Escrow Company (unless said disbursement is made
to Lender), or as otherwise provided by the Loan Agreement:


 


	
  ITEM SPECIAL DOCUMENTATION

  	
   

  	
  SPECIAL DOCUMENTATION

  	
   

  
	
  Lender charges (interest, fees, etc.)

  	
   

  	
  None

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Attorneys’ fees (including Lender’s
  counsel) and Independent Inspector fees

  	
   

  	
  Copy of
  Statement

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Real estate taxes on the Project and
  Project Site

  	
   

  	
  Copy of Bill

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Insurance Premiums

  	
   

  	
  Copy of
  Statement

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Other indirect (non-construction) items

  	
   

  	
  As specified
  by Lender, Title Company

  	
   

  
	
   

  	
   

  	
  And/or the
  Escrow Company

  	
   

  



 


If Borrower directly pays certain costs of
construction, and Lender, Title Company and the Escrow Company approve, the
Escrow Company may disburse an Advance, advanced for payment of such
construction costs, directly to Borrower, as a reimbursement for such payment;
provided that all of the other requirements of this Agreement, including but
not limited to the presentation of waivers of lien with respect thereto, are
fulfilled.


 


If Borrower requires funds for operations
that may occur prior to completion of the Project and those funds are not for
an expense subject to a mechanic’s lien, Borrower may request an Advance of
such funds directly from the Lender. Borrower shall provide the Escrow Company
and Title Company with a copy of each Draw Request submitted directly to
Lender.


 


7.             The Escrow Company shall keep records
showing the names of all Contractors and other payees to whom Advances are made
by the Escrow Company, the date of each disbursement, and the amount of each
disbursement, which records may be inspected by Borrower, Title Company and
Lender. After Project completion, the Escrow Company will provide to Lender
copies of all original lien waivers and any other documentation related to the
Draw Request not previously provided to Lender.


 


8.             If the Escrow Company and/or Title Company
shall determine, in their reasonable judgment, that proper documentation to
support a given disbursement, as required by this Agreement, has not been furnished,
the Escrow Company shall withhold payment of all or such portion of such
disbursement as shall not be so supported by proper documentation, and shall
promptly notify Borrower, Lender and Title Company of the discrepancy in or
omission of such documentation. Until such time as such discrepancy or omission
is corrected to the satisfaction of the Escrow Company and Title Company, it
shall withhold such amount. In the event that such discrepancy or omission is
not corrected within a reasonable time, the Escrow Company


 


4

















 


shall, upon demand of Lender, return such withheld funds to Lender, and
the indebtedness of Borrower to Lender under the Loan Agreement shall be
credited with the amount of such funds. Such returned funds shall remain
available for readvancement under the Loan Agreement, if the requirements
thereof and hereof with respect thereto are later met. Escrow Company and Title
Company shall not be liable for determining, calculating, or confirming any
amounts due, or for the failure to determine, calculate, or confirm the above
amounts. Further, the Escrow Company and Title Company shall not be liable to
any party to this Agreement for any interest on undisbursed funds.


 


9.             Borrower shall be responsible for making
inspections of the Project during the course of construction, and shall
determine to its own satisfaction that the work done or material supplied by
the Contractors to whom disbursements are to be made out of each Advance has
been properly done or supplied in accordance with applicable contracts with
such Contractors. The Escrow Company, Title Company and Lender shall not be
required to conduct any inspection of the Project. In addition, any inspection
of the Project conducted by or on behalf of the Escrow Company, Title Company
or Lender shall be for the benefit of the Escrow Company, Title Company or
Lender, and Borrower shall not be entitled to rely on the results of any such
inspection.


 


10.           It is expressly understood and agreed that
neither Lender, the Banks, Title Company nor the Escrow Company assumes any
liability or responsibility for the satisfactory completion of the Project, for
the adequacy of funds advanced or disbursed by either of them pursuant hereto
and to the Loan Agreement to complete the Project, for inspections during
construction, or for any acts on the part of Borrower or Fagen to be performed
in the construction of the Project.


 


11.           Any
notice required or permitted to be given by any party hereto to any other party
hereto under the terms of this Agreement shall be deemed to have been given on
the day two (2) business days after the same is deposited with an
overnight courier or in the United States mail, registered or certified, return
receipt requested, postage prepaid, addressed to the party to which the notice
is to be given at the address set forth opposite its name below, or to any
other address specified in a notice given by such party to the others not less
than ten (10) days prior to the effective date of the address change, or
on the day sent if sent by confirmed facsimile:


 


	
  If to Borrower:

  	
   

  	
  Highwater Ethanol, LLC

  
	
   

  	
   

  	
  205 North
  Main Street

  
	
   

  	
   

  	
  P.O. Box
  96

  
	
   

  	
   

  	
  Lamberton,
  Minnesota 56152

  
	
   

  	
   

  	
  Attention:
  President

  
	
   

  	
   

  	
  Facsimile:   507-752-6162

  
	
   

  	
   

  	
   

  
	
  If to Lender:

  	
   

  	
  First National Bank of Omaha

  
	
   

  	
   

  	
  1620 Dodge
  Street, Stop 1050

  
	
   

  	
   

  	
  Omaha,
  Nebraska 68197-1050

  
	
   

  	
   

  	
  Attention:
  Jeremy Reineke

  
	
   

  	
   

  	
  Facsimile:
  (402) 633-3519

  



 


5

















 


	
  If to Escrow Company:

  	
   

  	
  Homestead Escrow and Exchange Company

  
	
   

  	
   

  	
  315 S.
  Phillips Avenue

  
	
   

  	
   

  	
  Sioux Falls,
  South Dakota 57104

  
	
   

  	
   

  	
  Attention:
  Chad Hansen

  
	
   

  	
   

  	
  Facsimile:
  (605) 336-5649

  
	
   

  	
   

  	
   

  
	
  If to Title Company:

  	
   

  	
  Dakota Homestead Title Insurance Company

  
	
   

  	
   

  	
  315 South
  Phillips Avenue

  
	
   

  	
   

  	
  Sioux Falls,
  South Dakota 57104

  
	
   

  	
   

  	
  Attn.: Chad
  Hansen

  
	
   

  	
   

  	
  Facsimile:
  (605) 336-5649

  



 


12.           All documents required to be delivered by
Borrower to Lender, Title Company or the Escrow Company pursuant to this
Agreement shall be in form and content reasonably acceptable to Lender, Title
Company or the Escrow Company, as the case may be.


 


13.           The Escrow Company agrees that it is the “closer”
for the transaction described in this Agreement, and that it will disburse all
payments to Contractors or others required by this Agreement, and that for the
purposes of the information reporting requirements to the Internal Revenue
Service, shall file any informational returns and any other documentation
required by the Internal Revenue Code and any regulations and revenue rulings
issued by the Internal Revenue Service, and any state information returns
required by the applicable state revenue agency relating to the closing of
transactions and disbursing Advances. The Escrow Company agrees to provide
copies of such documentation to Lender and other records relating to the
disclosure requirements of this paragraph upon written request of Lender. The
Escrow Company agrees to save, indemnify, defend, and hold Lender harmless from
any losses, claims, damages, or costs of any kind and nature relating to the
Escrow Company’s failure to comply with the requirements of this paragraph. This
indemnity shall be effective notwithstanding any other indemnification
provision or exculpation provisions of this Agreement releasing Escrow Company
from responsibilities for actions or omissions of Escrow Company in connection
with this Agreement.


 


14.           Borrower agrees to pay the Escrow Company
$200.00 for each disbursement it makes as compensation for its services as
described in this Agreement. Additionally, Borrower will pay the Escrow Company
a fee of $10.00 for each check and lien waiver paid to and collected from a
Contractor or a contractor employed directly by Borrower.


 


15.           All of Lender’s rights herein are in
addition to, and not substitution of, Lender’s other rights under the Loan Agreement
and other Loan Documents as Administrative Agent, Collateral Agent, Accounts
Bank or a Bank. No parties shall have been deemed to have waived any right
hereunder, unless such waiver is in writing signed by the party to be charged
thereby. This Agreement shall be governed by the laws of the State of Nebraska,
without regard to its conflicts or choice of law provisions. Provided, however,
that the law applicable to all questions of lien validity, priority, and
satisfaction shall be determined by the substantive law of the State


 


6

















 


of Minnesota. This Agreement constitutes the entire agreement between
the parties concerning the subject matter hereof.


 


16.           This Agreement may be executed in any number
of counterparts, and by any party on separate counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the
same instrument.


 


[SIGNATURE PAGE FOLLOWS]


 


7

















 


IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the day and year first above written.


 


	
   

  	
  BORROWER:

  
	
   

  	
  HIGHWATER ETHANOL, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
             /s/
  Brian Kletscher

  
	
   

  	
   

  	
  Brian Kletscher, President

  
	
   

  	
   

  	
   

  
	
   

  	
  LENDER:

  
	
   

  	
  FIRST NATIONAL BANK OF OMAHA

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
             /s/
  Jeremy Reineke

  
	
   

  	
   

  	
  Jeremy Reineke, Second Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  ESCROW COMPANY:

  
	
   

  	
  HOMESTEAD ESCROW AND EXCHANGE 

  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
             /s/
  Chad Hansen

  
	
   

  	
  Title:

  	
             President

  
	
   

  	
   

  	
   

  
	
   

  	
  TITLE COMPANY

  
	
   

  	
  DAKOTA HOMESTEAD TITLE INSURANCE

  
	
   

  	
  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
             /s/
  Chad Hansen

  
	
   

  	
  Title:

  	
             President

  



 


8

















 


EXHIBIT A


 


Legal Description:


 


PARCEL I
(PROJECT SITE)


 


TRACT A:  That part of the Southwest Quarter of Section 21,
Township 109 North, Range 37 West, Redwood County, Minnesota, lying north of
the northerly right-of-way line of the Dakota Minnesota & Eastern
Railroad.


 


Excepting
therefrom that part of said Tract A which lies northwesterly of “Line 1”
described below, southerly of a line run parallel with and distant 50 feet
southerly of “Line 2” described below, and easterly of the easterly
right-of-way line of Township Road T-190, as now located and established, said
exception containing 0.20 acres more or less.


 


“Line 1”:  Beginning at the intersection of the easterly
right-of-way line of said township road with a line run parallel with and
distant 180 feet southerly of “Line 2” described below; thence northeasterly to
a point distant 50 feet southerly (measured at right angles) of a point on said
“Line 2”, distant 167.4 feet easterly of its point of beginning, and there
terminating.


 


“Line 2”:  Beginning at a point on the west line of the
Northwest Quarter of Section 21, distant 1.0 foot north of the southwest
corner thereof; thence run northeasterly at an angle of 92 degrees 05 minutes
00 seconds (as measured from south to east) from said west line of 1521.8 feet;
thence deflect to the right at an angle of 01 degree 03 minutes 00 seconds for
1100 feet and there terminating.


 


Also Excepting
that part of said Tract A hereinbefore described, which lies within a distance
of 35 feet southerly of a line run parallel with and distant 50 feet southerly
of the following described line: 
Beginning at a point on “Line 2” hereinbefore described, distant 484.4
feet westerly of its point of termination; thence easterly on said “Line 2” for
484.4 feet and there terminating; said exception containing 0.37 acres more or
less.


 


Subject to
Township Road right-of-way over the westerly 33 feet of said Southwest Quarter,
also subject to Trunk Highway 14 right-of-way.


 


AND ALSO


 


PARCEL II
(PROJECT SITE)


 


All that part
of the Southeast Quarter of Section 21, Township 109 North, Range 37 West,
Redwood County, Minnesota, lying north of the northerly right-of-way line of
the Dakota Minnesota & Eastern Railroad, subject to Highway 14
right-of-way.


 


9

















 


Excepting
therefrom that part of said Southeast Quarter which lies within a distance of
35 feet southerly of the following described line:  Beginning at a point on the westerly boundary
of said Southeast Quarter, distant 40 feet southerly of the northwest corner
thereof; thence run easterly for 345.6 feet along a line that intersects the
easterly boundary of the Southeast Quarter of said Section 21, distant
64.4 feet southerly of the northeast corner thereof and there terminating.


 


Also Excepting
therefrom that part of the Northeast Quarter of the Southeast Quarter of Section 21,
Township 109 North, Range 37 West, Redwood County, Minnesota, described as
follows:  Commencing at the northeast
corner of said Southeast Quarter; thence southerly on a Minnesota State Plane
Grid Azimuth from north of 181 degrees 50 minutes 35 seconds along the east
line of said Southeast Quarter 102.21 feet; thence westerly 270 degrees 48
minutes 42 seconds azimuth 665.31 feet to the point of beginning; thence
continue westerly 270 degrees 48 minutes 42 seconds azimuth 400.00 feet; thence
southerly 180 degrees 48 minutes 42 seconds azimuth 200.00 feet; thence
easterly 90 degrees 48 minutes 42 seconds azimuth 400.00 feet; thence northerly
00 degrees 48 minutes 42 seconds azimuth 200.00 feet to the point of beginning.


 


Containing
0.27 acres, more or less.


 


AND ALSO


 


PARCEL III
(LAMBERTON ECONOMIC DEVELOPMENT AUTHORITY PARCEL)


 


That part of
the South Half (S1⁄2) of Section Twenty-two (22), Township One Hundred Nine
(109) North, Range Thirty-seven (37) West, Redwood County, Minnesota, lying
northerly of the northerly right-of-way line of the Dakota Minnesota &
Eastern Railroad, and southerly of the following described line:  Commencing at a point on the west line of the
Southwest Quarter (SW1⁄4) of said Section Twenty-two (22) where said line
intersects the northerly right-of-way line of the Dakota Minnesota and Eastern
Railroad, said right-of-way line being 50 feet northerly of and parallel with
the center line of the tracks; thence northerly along said west line on an
assumed azimuth of 01 degrees 50 minutes 35 seconds 145.69 feet to the point of
beginning of the line to be described; thence easterly 84 degrees 21 minutes 14
seconds azimuth 388.43 feet; thence 85 degrees 21 minutes 11 seconds azimuth
900.66 feet; thence easterly 83 degrees 46 minutes 16 seconds azimuth 896.53
feet; thence easterly 81 degrees 30 minutes 37 seconds azimuth 193.47 feet;
thence easterly 78 degrees 15 minutes 04 seconds 396.89 feet; thence easterly
80 degrees 37 minutes 13 seconds 299.78 feet; thence easterly 77 degrees 40
minutes 49 seconds 199.61 feet; thence easterly 80 degrees 37 minutes 44
seconds azimuth 200.67 feet; thence easterly 77 degrees 47 minutes 42 seconds
azimuth 316.70 feet to the southerly right-of-way line of Trunk Highway No. 14;
thence easterly 90 degrees 48 minutes 42 seconds azimuth along said southerly
right-of-way line 619.24 feet to its intersection with said northerly
right-of-way line of said Dakota Minnesota and Eastern Railroad and there
terminating.


 


10

















 


AND ALSO


 


PARCEL IV
(ERICKSON WELL SITE PARCEL)


 


The East
2040.20 feet of the North 128.10 feet of the Northwest Quarter of Section 14,
Township 108 North, Range 37 West, Cottonwood County, Minnesota. Said tract
subject to a 33.00 foot township road right-of-way easement. Said tract
contains 6.00 acres more or less, including 1.55 acres of township road
right-of-way.


 


AND ALSO


 


PARCEL V
(GEIS WELL SITE PARCEL)


 


The East
1188.00 feet of the South 220.00 feet of the Southeast Quarter of the Southwest
Quarter of Section 29, Township 109 North, Range 37 West, Redwood County,
Minnesota. Said tract subject to a 33.00 foot township road right-of-way
easement. Said tract contains 6.00 acres more or less, containing 0.90 acres of
township road right-of-way.


 


11