Exhibit 10.1
  MASTER LOAN AGREEMENT
 THIS MASTER LOAN AGREEMENT ABE FAIRMONT, LLC,
Fairmont, Nebraska
 BACKGROUND
  SECTION 1. Supplements.
 SECTION 2. Sale of Participation Interests and Appointment of Administrative Agent.




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SECTION 3. Availability.
 SECTION 4. Repayment.
 SECTION 5. Capitalization.
 Owner Name:ABE Fairmont. LLC
    
    SSN/TIN:20-5736411
  Richard Peterson, voter
 SECTION 6. Security.




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-3- 
  SECTION 7. Conditions Precedent.
 (A) Conditions to Initial Supplement.
 This Agreement, Etc,
 (B) Conditions to Each Supplement.
 (1) Supplement.
 (2) Evidence of Authority.
 (3) Fees
and Other Charges.
 (4) Evidence of Perfection, Etc.
 (C) Conditions to Each Loan.




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-4- 
 SECTION 8. Representations and Warranties.
 (A) This Agreement.
 (1) Compliance.
 (2) Subsidiaries.
 (B) Each Supplement.
 (1) Applications.
 (2) Conflicting Agreements, Etc.
 (3) Compliance.
 (4) Binding Agreement.
 SECTION 9. Affirmative Covenants.
 (A) Eligibility.




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-5- 
 (B) Corporate Existence, Licenses, Etc.
 (C) Compliance with Laws.
 (D) Insurance.
 (E) Property Maintenance.
 (F) Books and Records.
 (G) Inspection.
 (H) Reports and Notices.
 (1) Annual Financial Statements.




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-6- 
  (2) Interim Financial Statements.
 (3) Notice of Default.
 (4) Notice of Non-Environmental Litigation.
 (5) Notice of Environmental Litigation, Etc.
 (6) Bylaws and Articles.
 (7) Compliance Certificates.
 (8) Formation Documents.




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-7- 
 
 (9) Budgets.
 (10) Other Information.
 SECTION 10. Negative Covenants.
 (A) Borrowings.
 (B) Liens. Section 10(A)(4),
 (C) Mergers, Acquisitions, Etc.
 (D) Transfer of Assets.




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-8- 
 (E) Loans and Investments.
 (F) Contingent
Liabilities.
 (G) Change in Business.
 (H) Capital Expenditures.
 (I) Leases.
 (J) Changes to Operating Agreements, Etc.
 (K) Dividends, Etc.




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-9- 
  (L) Payments on Subordinate Debt.
 SECTION 11. Financial Covenants.
 (A) Working Capital.
 (B) Net Worth.
 (C) Debt Service Coverage Ratio.
 SECTION 12. Events of Default.Each of the following shall constitute an Event of Default
under this agreement:
 (A) Payment Default.
 (B) Representations and Warranties.




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-10- 
 (C) Certain Affirmative Covenants.
 (D) Other Covenants and Agreements.
 (E) Cross-Default.
 (F) Other Indebtedness.
 (G) Judgments.
 (H) Insolvency, Etc.
 (I) Material Adverse Change.
 (J) Revocation of Guaranty.




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-11- 
  SECTION 13. Remedies.
 (A) Enforcement.
 (B) Application of Funds.




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-12- 
  SECTION 14. Broken Funding Surcharge.
 SECTION 15. Complete Agreement, Amendments.
 SECTION 16. Other Types of Credit.
 SECTION 17. Applicable Law.




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-13- 
 SECTION 18. Notices.
 If to Agent, as follows:
    
    If to the Company, as follows:For general correspondence purposes:
    
    ABE FAIRMONT, LLCCoBank. ACB
    
    10201 Wayzata BoulevardP.O. Box 5110
    
    Minneapolis, Minnesota 55305Denver. Colorado 80217-5110For direct delivery purposes, when desired:
    
    Attention: CEOCoBank, ACB
    
    Fax No.: 763-226-27255500 South Quebec StreetGreenwood
Village, Colorado 80111-1914Attention: Credit Information ServicesFax No.: (303) 224-6101
 SECTION 19. Taxes and Expenses.
 SECTION 20. Effectiveness and Severability.
 SECTION 21. Successors and Assigns.




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-14- 
 SECTION 22. Participations, Etc.
 SECTION 23. Counterparts.
 SECTION 24. Administrative Fee.
 IN WITNESS WHEREOF,
 FARM CREDIT SERVICES
OF AMERICA, FLCA
    
    ABE FAIRMONT, LLCBy ADVANCED BIOENERGY, LLC,its sole memberBy:
    
/s/
Kathryn Frahm
    
    By:
    
/s/
Richard PetersonTitle:
    
    VP Credit
    
    Title:
    
    CEO/CFO
NT 4-28-11FARM CREDIT SERVICES
OF AMERICA, PCABy:
    
/s/
Kathryn FrahmTitle:
    
    VP Credit