Exhibit 10.14*Farm Credit Services of America***SECOND AMENDMENT TO CREDIT AGREEMENT**This Second Amendment to Credit Agreement (“Amendment”) is made and entered into effective the 15thday of May, 2007, by and between the undersigned (hereinafter referred to as “Borrower”) and **FarmCredit Services of America, FLCA and Farm Credit Services of America, PCA**(hereinafter referred toas “Lender”) to amend and modify the Credit Agreement dated May 4, 2006 (hereinafter referred to asthe “Credit Agreement”). The Credit Agreement and underlying Loan Documents are modified only tothe extent necessary to give effect to the terms of this Amendment, and the remaining terms of saidLoan Documents, not otherwise inconsistent herewith, are ratified by the parties. Capitalizedterms used but not otherwise defined herein have the respective meanings given to them in theCredit Agreement.In consideration of the mutual agreements, provisions and covenants herein contained, andfurthermore to induce Lender to consider financial accommodations for the Borrower under the termsand provisions of the Credit Agreement, the parties hereby agree as follows:**The following Sections are amended to read as follows:****Section 2.1****Credit Facility A**. Lender agrees to advance sums to Borrower up to the amountof $35,643,750.00 until August 2, 2007 (the “Term Loan Final Advancement Date”). Each Advance madewill reduce the funds available for future advances by the amount of the Advance. Repayments ofprincipal will not be available for subsequent Advances. The proceeds of said Loan will be used byBorrower for financing construction of a 50 million gallon dry mill ethanol plant (Purpose) andBorrower agrees not to request or use such proceeds for any other purpose.(a) **Interest**. Borrower hereby promises to pay interest on the principal indebtednessoutstanding from time to time on each Advance from and including the date of such Advance andotherwise in accordance with statements issued by Lender. Interest shall be payable on thefollowing dates, each such date an “Interest Payment Date”, provided that interest accruing at theDefault Rate,if applicable, shall be payable on demand. Said interest shall be payableon the 1st day of each month, commencing the first day of the month following the first Advancethrough and including the Term Loan Final Advancement Date. Commencing on the First PrincipalPayment Date, as set forth in Section 2.1(b), said interest shall be payable on the principalpayment installment due dates at the following rate per annum.**Libor Rate**Interest shall accrue from the date of each Advance at a variable rate per annumequivalent to the Libor Short Term Index Rate plus 3% (the ‘Variable Rate’). The interest rateshall be adjusted higher or lower on June 15, 2007, and every month thereafter with any change inthe Libor Rate, and this higher or lower rate will thereafter apply to the outstanding principalindebtedness and remain in effect until a different rate of interest is established. The amount ofany subsequent payments will be increased or decreased accordingly to reflect the different rate ofinterest without in any manner changing the due date of the payments. There is no limitation onthe amount of the change in the interest rate.The Variable Rate shall be adjusted to the Libor Short Term Index Rate plus 2.85% for any yearafter 2006 in which, at the end of the preceding year, Borrower’s Owner’s Equity (defined as networth to total tangible assets) is equal to or greater than 60%, provided the Borrower is nototherwise in default.The Libor Short Term Index Rate is the three-month London InterBank Offered Rates in the Londonmarket based on the Libor rate published on the last business day of the month as published in theWall Street Journal, rounded to the nearest 0.05%.(b) **Principal**. Borrower hereby promises to pay principal plus all accrued interest asfollows: in 30 equal principal installments of $1,188,125.00 plus accrued interest commencing onthe first of the month which is six months following Substantial Completion, but no later thanDecember 1, 2007, (the “First Principal Payment Date”) and continuing on the 1st of each quarterthereafter until the entire unpaid principal, plus all accrued interest and any unpaid fees, costsor expenses is paid in full, and no later than June 1, 2015 (Maturity Date). The actual paymentamount of all other payments may vary according to the interest rate then in effect and theoutstanding principal balance.
 

 
**Section 2.2****Credit Facility B**. Lender agrees to advance sums to Borrower up to the amountof $11,881,250.00 (Maximum Principal Balance) until the expiration of 30 months after CreditFacility A has been repaid, but not later than December 1, 2017 (The Revolving Loan FinalAdvancement Date). Each Advance made will reduce the funds available for future advances by theamount of the Advance. Repayments of principal will be available for subsequent Advances, howeveruntil the Revolving Loan Final Advancement Date, the Maximum Principal Balance available forsubsequent Advances shall be reduced by $1,188,125.00 on each installment due date. The proceedsof said Loan will be used by Borrower for financing construction of a 50 million gallon dry millethanol plant and to provide working capital (Purpose) and Borrower agrees not to request or usesuch proceeds for any other purpose.**(a) ****Interest**. Borrower hereby promises to pay interest on the principal indebtednessoutstanding from time to time on each Advance from and including the date of such Advance andotherwise in accordance with statements issued by Lender. Interest shall be payable on thefollowing dates, each such date an “Interest Payment Date,” provided that interest accruing at theDefault Rate, if applicable, shall be payable on demand. Said interest shall be payable on the 1stday of each month, commencing the first day of the month following the first Advance through andincluding the date upon which the first principal installment shall become due, at which timeinterest shall be payable on the principal payment installment due dates at the following rate perannum:**Libor Rate**Interest shall accrue from the date of each Advance at a variable rate per annumequivalent to the Libor Short Term Index Rate plus 3% (the ‘Variable Rate’). The interest rateshall be adjusted higher or lower on June 15, 2007, and every month thereafter with any change inthe Libor Rate and this higher or lower rate will thereafter apply to the outstanding principalindebtedness and remain in effect until a different rate of interest is established. The amount ofany subsequent payments will be increased or decreased accordingly to reflect the different rate ofinterest without in any manner changing the due date of the payments. There is no limitation onthe frequency or the amount of the change in the interest rate.The Variable Rate shall be adjusted to the Libor Short Term Index Rate plus 2.85% for any yearafter 2006 in which, at the end of the preceding year, Borrower’s Owner’s Equity (defined as networth to total tangible assets) is equal to or greater than 60%, provided the Borrower is nototherwise in default.The Libor Short Term Index Rate is the three-month London InterBank Offered Rates in the Londonmarket based on the Libor rate published on the last business day of the month as published in theWall Street Journal, rounded to the nearest 0.05%.**(b) ****Principal**. Borrower hereby promises to pay principal plus all accrued interest asfollows: in 10 equal installments of $1,188,125.00, plus accrued interest, the first of saidinstallments due September 1, 2015, or the first day of the first month which is three monthsfollowing full repayment of Credit Facility A, whichever occurs first (the “First PrincipalRevolving Loan Payment Date”), and continuing on the 1st of each calendar quarter thereafter, up toand including December 1, 2017, when the entire unpaid principal, plus all accrued interest and anyunpaid fees, costs and expenses shall be due and payable in full. The actual payment amount of allpayments may vary according to the interest rate then in effect and the outstanding principalbalance.**Section 2.4.1****Origination Fee**. Borrower agreed to pay Lender for structuring the Loan thefee set forth in the commitment letter and agreement executed by the Borrower and the Lender datedOctober 10, 2005 (Commitment).Borrower agrees to pay Lender for re-structuring the Loan the fee set forth in the commitmentletter and agreement executed by the Borrower and the Lender dated February 16, 2007 (Commitment).**Section 2.6.3****Excess Cash Flow**. In addition to the scheduled principal payments requiredherein, Borrower agrees to make special principal payments equal to 65% of available Excess CashFlow to the extent that such payment(s) do not cause default of any of the covenants in thisAgreement. Said mandatory prepayments shall be limited to a maximum of $2,500,000.00 per fiscalyear and the aggregate total of all such payments shall not exceed $8,000,000.00. Such paymentsshall be applied to scheduled principal installments of Credit Facility A in inverse order ofmaturity. Any mandatory payments from Excess Cash Flow shall be made within 120 days of the end ofeach fiscal year based on the Borrower’s audited financial statements for the year just ended.**Section 6.7.2****Periodic Financial Statements**. As soon as available, beginning with themonth in which Substantial Completion occurs, and in no event later than 30 days after the end ofeach month thereafter (excluding the last month of Borrower’s fiscal year) a consolidated balancesheet and consolidated income statement and production report of all Borrower’s production ofethanol for that month and for year-to-date since the last fiscal year end, such report certifiedcomplete and correct from a source acceptable to Lender.
 

 
**Section 6.11****Compliance Certificate**. Beginning with the month in which SubstantialCompletion occurs, Borrower agrees to provide Lender with a Compliance Certificate showing orcertifying compliance with the aforesaid reporting and financial requirements and as of the lastday of each month(Reporting Period) thereafter, in form and content acceptable to Lender. SuchCertificate shall be provided to Lender within 20 days following the end of each Reporting Period,and in default after 30 days.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 LoanDocuments and (*ii*) the representations and warranties set forth in the Credit Agreement are trueand correct in all material respects as of the date hereof (except for those which expressly relateto an earlier date).Borrower hereby ratifies the Credit Agreement and acknowledges and reaffirms (*i*) that it is boundby all terms of the Credit Agreement applicable to it and (*ii*) that it is responsible for theobservance and full performance of its respective obligations.Borrower hereby certifies that the person(s) executing this Amendment on behalf of Borrower is/areduly authorized to execute such document in behalf of Borrower and that there have been no changesin the name, ownership, control, organizational documents, or legal status of the Borrower sincethe last application, loan, or loan servicing action; that all resolutions, powers and authoritiesremain in full force and effect, and that the information provided by Borrower is and remains trueand correct.This Amendment may be executed by the parties hereto in several counterparts, each ofwhich shall be deemed to be an original and all of which shall constitute one and the sameagreement. Delivery of executed counterparts of this Amendment by telecopy shall be effective asan 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 THESTATE OF NEBRASKA.This Amendment shall be binding upon and inure to the benefit of the parties hereto and theirrespective successors and assigns.
 

 
IN WITNESS WHEREOF, the parties hereto have set their hand effective the day and year first abovewritten.**The Internal Revenue Service does not require your consent to any provision of this document otherthan the following certification required to avoid backup withholding. Under penalties of perjury,l/we certify that the Taxpayer Identification Number shown herein is correct and that I/we am/arenot subject to backup withholding either because I/we are exempt, have not been notified that l/weare subject to backup withholding due to failure of reporting Interest or dividends, or theInternal Revenue Service has notified me/us that l/we am/are no longer subject to backupwithholding. I/we am/are a U.S. person (including U.S. resident alien):**       **Siouxland Ethanol, LLC**  **223902184**        **BORROWER:**           **Siouxland Ethanol, LLC**           By: /s/ Thomas Lynch Thomas Lynch, President           By: /s/ Shennen Saltzman Shennen Saltzman, Director           Address for Notice: P.O. Box 147      Jackson,NE 68743           **LENDER:**           **Farm Credit Services of America, FLCA**