exv10w2






Exhibit
10.2

Farm Credit Services of America




FIFTH AMENDMENT TO CREDIT AGREEMENT




This Fifth Amendment to Credit Agreement (“Amendment”) is made and entered into effective the 30th
day of June, 2008, by and between Siouxland Ethanol, LLC (hereinafter referred to as “Borrower”)
and Farm Credit Services of America, FLCA and Farm Credit Services of America, PCA (hereinafter
referred to as “Lender”) to amend and modify the Credit Agreement dated May 4, 2006 (hereinafter
referred to as the “Credit Agreement”). The Credit Agreement and underlying Loan Documents are
modified only to the extent necessary to give effect to the terms of this Amendment, and the
remaining terms of said Loan Documents, not otherwise inconsistent herewith, are ratified by the
parties. Capitalized terms used but not otherwise defined herein have the respective meanings
given to them in the Credit Agreement.



In consideration of the mutual agreements, provisions and covenants herein contained, and
furthermore to induce Lender to consider financial accommodations for the Borrower under the terms
and provisions of the Credit Agreement, the parties hereby agree as follows:



The following sections are amended to read as follows:




Section 2.6.1 Voluntary Prepayments. Subject to the payment of any applicable prepayment
fees or funding losses as provided herein, Borrower may prepay the Loan in full before its maturity
or make additional principal payments on a term Loan in any amount on any Business Day, specifying
the Loan upon which any prepayment is made. Such additional principal payment shall not, however,
defer, postpone or alter the amount or due date of any scheduled payments required under this
Agreement. Unless otherwise agreed, prepayments up to 180 days ahead of the scheduled installment
date will be applied to principal installments in the order of their maturity and additional
prepayments will be applied to principal installments in the inverse order of their maturity.



Section 7.11 Capital Spending. Borrower will not make Capital Expenditures during fiscal
year 2008, from any source of funds available, in excess of $2,000,000.00 in the aggregate. For
fiscal year 2009 and thereafter, Capital Expenditures are not to exceed $500,000.00 per year in the
aggregate.



Borrower hereby represents and warrants to the Lender that, after giving effect to this Amendment,
(i) no Default or Event of Default exists under the Credit Agreement or any of the other Loan
Documents and (ii) the representations and warranties set forth in the Credit Agreement are true
and correct in all material respects as of the date hereof (except for those which expressly relate
to an earlier date).



Borrower hereby ratifies the Credit Agreement as amended and acknowledges and reaffirms (i) that it
is bound by all terms of the Credit Agreement applicable to it and (ii) that it is responsible for
the observance and full performance of its respective obligations.



Borrower hereby certifies that the person(s) executing this Amendment on behalf of Borrower is/are
duly authorized to execute such document on behalf of Borrower and that there have been no changes
in the name, ownership, control, organizational documents, or legal status of the Borrower since
the last application, loan, or loan servicing action; that all resolutions, powers and authorities
remain in full force and effect, and that the information provided by Borrower is and remains true
and correct.



This Amendment may be executed by the parties hereto in several counterparts, each of which shall
be deemed to be an original and all of which shall constitute one and the same agreement. Delivery
of executed counterparts of this Amendment by telecopy shall be effective as an original and shall
constitute a representation that an original shall be delivered.



THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE
STATE OF NEBRASKA.



This Amendment shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.



IN WITNESS WHEREOF, the parties hereto have set their hand effective the day and year first above
written.



 









 





The Internal Revenue Service does not require your consent to any provision of this document other
than the following certification required to avoid backup withholding. Under penalties of perjury,
I/we certify that the Taxpayer Identification Number shown herein is correct and that I/we am/are
not subject to backup withholding either because I/we are exempt, have not been notified that I/we
are subject to backup withholding due to failure of reporting interest or dividends, or the
Internal Revenue Service has notified me/us that I/we am/are no longer subject to backup
withholding. I/we am/are a U.S. person (including U.S. resident alien):



Siouxland Ethanol, LLC          223902184




BORROWER:




Siouxland Ethanol, LLC




	 	 	 	 	 
	By:

	 	Charles Hofland
	 	 
	 

	 	 	 	 
	 

	 	Charles Hofland, President and Chief Executive Officer	 	 






Address for Notice: P.O. Box 147




                        Jackson, NE 68743




LENDER:




Farm Credit Services of America, FLCA

Farm Credit Services of America, PCA




	 	 	 	 	 
	By:

	 	Shane Frahm
	 	 
	 

	 	 	 	 
	 

	 	Shane Frahm, Vice President