**EXHIBIT
99.1**
 
 **Husker
Ag, LLC Trading System**
 **Rules
and Procedures**
 
 The
following sets forth the Husker Ag, LLC (“Husker Ag”) rules and procedures which
govern the trading of its membership units ("Units") through the Husker Ag
qualified trading system ("Trading System"), adopted in accordance with IRS
regulations regarding qualified matching services, and constitutes a Qualified
Matching Services Program as defined in Section 1.21 of the Husker Ag, LLC
Second Amended and Restated Operating Agreement ("Operating Agreement"). These
rules and procedures may be modified by Husker Ag from time to
time.
 
 ***I.***
    ***Husker
      Ag Bulletin Board***
 
 A. *Location* *:* The
Husker Ag Bulletin Board used in the Trading System will be located at the
principal business office of Husker Ag's ethanol plant located 31⁄2 miles east of
Plainview, Nebraska on US Highway 20. Interested buyers or sellers of Units will
be required to provide the required information either through a personal visit
to the Husker Ag office, calling into the office (402) 582-4446 (ask for
Kristine Wacker) or through facsimile transmission to Husker Ag at (402)
582-3888 (Attention: Kristine Wacker). Husker Ag personnel will transcribe the
information received onto the Trading System Bulletin Board.
 
 B. *Non-Firm
Quotations* *:* The
Husker Ag Trading System displays only quotes by sellers or buyers that do not
commit any person to buy or sell a Unit at the quoted price (nonfirm price
quotes). All references to "offers to buy" or "offers to sell" Units in these
Rules and Procedures are qualified by reference to this Section I(B). The
display of a bid or ask price from either a potential seller or buyer does not
constitute a firm commitment or obligation by such person to sell or buy at such
price, and is subject to the execution of a written purchase agreement between
the seller and buyer, and to the approval of the Husker Ag Board of Directors,
in compliance with the Husker Ag Operating Agreement.
 
 ***II.***
    ***Trading
      Periods***
 
 A. *Trimester
Periods* *:* Buyers
and sellers may list "offers to buy" or "offers to sell" Units on the Trading
System on a trimester basis with the respective trimester periods commencing
December 1st, April 1st, and September 1st of each year. The initial trading
period will commence December 1, 2004.
 
 The three
trading periods are intended to follow the filing of quarterly or annual reports
by Husker Ag with the Securities and Exchange Commission ("SEC"). The company's
quarterly reports (on Form 10-QSB) are to be filed with the SEC no later than 45
days following the end of the prior quarter, and the company's annual report (on
Form 10-KSB) is to be filed with the SEC no later than 90 days following the end
of the fiscal year. Thus the 3rd quarter report will be filed on or about
November 14th, the annual report on or about March 31st, and the 2nd quarter
report on or about August 15th of each year. Such reports are available through
the SEC Edgar filing system at www.sec.gov, which is also accessible through a
link on the Husker Ag website at www.huskerag.com. Potential buyers and sellers
of Units are strongly urged to review such reports and other information filed
by Husker Ag with the SEC prior to submitting a listing on the Trading System or
entering into an agreement to buy or sell Units.
 
 1
 
 B. *Listing
Period* : Each
trading period will begin with a 30 day listing period during which sellers may
submit and post "offers to sell" containing an asking price, and buyers may
submit and post "offers to buy" containing a bid price. The first day of each
trimester period is the “Initial Posting Date” and the date that the seller's or
buyer's respective offer to sell or offer to buy is posted on the Husker Ag
Bulletin Board will constitute the "Posting Date," for purposes of compliance
with the Trading System Rules. **The
posting of "offers to sell" and "offers to buy" are permitted solely during the
30 calendar days following the Initial Posting Date.** After
such 30 calendar days have passed, the Listing Period is terminated, and all
further activity on the Trading System Bulletin Board is suspended until the
commencement of the next Trimester Period. The information posted on the
Bulletin Board will remain on the Board for an additional 15 calendar days
following the end of the Listing Period, after which all seller and buyer
postings will be removed from the Bulletin Board, pending the commencement of
the next Trimester Period.
 
 C. *Timing
Requirements for Purchase Agreements* : **Sellers
and buyers of Units cannot enter into a purchase agreement to sell Units until
the 15th calendar day after the Posting Date in effect for the Units to be sold.** The
Posting Date in effect for the Units to be sold is the later of the seller's or
the buyer's Posting Date. For example, if either a seller's "offer to sell" or
buyer's "offer to buy" is not posted until the 24 th day
following the Initial Posting Date of the trimester, seller and buyer cannot
enter into a purchase agreement to sell Units until the 39 th calendar
day following the Initial Posting Date. All agreements between sellers and
buyers with respect to the Units must be subject to Husker Ag Board of Director
approval, and submitted to the Husker Ag Board for approval in accordance with
the time periods described below.
 
 D. *Timing
Requirements for Approval of Purchase Agreements* : A
purchase agreement in written form executed by both buyer and seller ("Purchase
Agreement") must be submitted to the Husker Ag Board of Directors for approval
by the following deadlines:
 
 (1)
    For
      the trimester commencing December 1st: By the following January
      31st.
 
 (2)
    For
      the trimester commencing April 1st: By the following May
31st.
 
 (3)
    For
      the trimester commencing September 1st: By the following October
      31st.
  
 2
 
 The
Husker Ag Board of Directors will then consider the Purchase Agreement and the
accompanying request for transfer of Units at the next regularly scheduled Board
meeting following the submission date. In most instances, this will be the
February Board meeting for the December 1st trimester, the June Board meeting
for the April 1st trimester, and the November Board meeting for the September
1st trimester. The Husker Ag Board may also consider submitted Purchase
Agreements and requests for transfer at specially held meetings of the Board,
but is under no obligation to call a special meeting for the consideration of
such agreements.
 
 In making
its determination for approval, the Husker Ag Board will consider whether the
Transfer Request Form requesting transfer of Units and accompanying Purchase
Agreement have complied in all respects with the Trading System Rules and
Procedures, the Husker Ag Operating Agreement requirements, as well as
compliance with applicable laws and regulations, including IRS regulations
governing publicly traded partnerships, and federal and state securities laws.
All references to Purchase Agreements in these Rules and Procedures are
qualified by reference to the foregoing requirements.
 
 E. *Closing
Dates for Approved Purchase Agreements* : **Under
IRS regulations, the closing of the sale effected through the Trading System
cannot occur prior to the 45th day following the Posting Date for such sale.** "Closing"
is defined as the
earlier of (i) the
passage of title to the Units (which will occur upon transfer of the Units on
the official register of Husker Ag maintained by its stock transfer agent), or
(ii) the payment of the purchase price from buyer to seller for the purchase of
the Units.
 
 In
accordance with Section 10.9(b) of the Husker Ag Operating Agreement, the Husker
Ag Board has established the Trimester Period as an Interim Transfer Period with
respect to transfers effected through the Trading System. As a general rule, the
transfer of title to the Units sold pursuant to the Trading System will be
effective as of the first day following the last day of the Trimester Period, or
December 1, April 1, or September 1. As such buyers and sellers should recognize
that the transfer of title date will be used for purposes of making allocations
of profits and losses and distributions to members, in accordance with Section
10.9(b) of the Operating Agreement. Distributions with a record date before the
date of transfer of title to the Units sold will be made to the transferor, and
distributions with a record date on or after the date of transfer of title will
be made to the transferee.
 
 To ensure
that the IRS regulatory requirement is met, Husker Ag will require that the payment
of the purchase price from
buyer to seller under the terms of the Purchase Agreements not occur until after
the Purchase Agreement has been approved by the Husker Ag Board of Directors and
no earlier than the following dates:
 
 (1)
    For
      the trimester commencing December 1st: No earlier than March 1st.
 
 (2)
    For
      the trimester commencing April 1st: No earlier than August
      1st.
 
 (3)
    For
      the trimester commencing September 1st: No earlier than November
      15th.
 
 3
 ******
 ***III.***
    ***Selling
      Membership Units***
 
 A. *Contacting
Husker Ag for Placement on the Bulletin Board* *.* A seller
must first contact Husker Ag as described in Section I above, and complete a
Seller Registration Form. A copy of the Seller Registration Form is attached as
Appendix A. The information on the Seller Registration Form will require the
seller to provide:
 
 Name
 Address,
City, State, Zip Code
 Telephone
Number
 E-mail
Address
 Number of
Units proposed to be sold
 Seller's
Nonfirm Price Quote (on a per Unit basis)
 
 B. *Posting
of Offer to Sell* **.**
 
 1.
    *Placing
      an Offer to Sell.*After completing the Seller Registration Form, the seller will be allowed
      to place an "offer to sell", subject to Husker Ag's review and
      verification as set forth below. Note: In the offer to sell, the Seller
      must submit Units for sale in whole units and in whole dollars and cents.
      No "offer to sell" of partial or fractionalized Units may be posted on the
      Trading System.
 
 2.
    *Husker
      Ag Verification.*Upon submission of an "offer to sell" for posting to the Trading System
      Bulletin Board, Husker Ag may take appropriate steps for the purpose of
      verifying ownership of the Units, and determining whether the seller’s
      Units are qualified to be sold. If Husker Ag determines that the seller is
      not eligible for trading for any reason, Husker Ag will promptly notify
      the seller and either not list the "offer to sell", or (if already listed)
      remove the "offer to sell" from the Trading System Bulletin Board.
 
 3.
    *Confirmation
      of Offer to Sell.*It
      is the seller's responsibility to confirm all "offer to sell" information
      placed on the Trading System Bulletin Board to avoid any mistakes that may
      have been made in the entry of seller's information, including the
      quantity of Units or the price per Unit to be
sold.
 
 4.
    *Modification
      of Offer to Sell.*A
      seller may modify an existing "offer to sell" within the 30-day listing
      period. To modify an "offer to sell", a seller must post a new "offer to
      sell" on the Trading System, and the new "offer to sell" will supercede
      and override the previous "offer to sell" made by the seller and will
      receive a new date of entry; the seller will also be required to wait an
      additional 15 calendar days before the modified "offer to sell" becomes
      eligible for entering into a Purchase
Agreement.
   4
  5.
    *Cancellation
      of Offer to Sell Listing.*A
      seller may cancel an "offer to sell" listing at any time prior to the
      signing of a Purchase Agreement. Upon written notice of such cancellation,
      Husker Ag will remove the seller’s "offer to sell" from the Trading System
      Bulletin Board. The seller who cancels an "offer to sell" will not be
      eligible to post a new "offer to sell" until the following trimester,
      which new posting will not be made unless the "offer to sell" has been
      removed from the Trading System Bulletin Board for at least 60 calendar
      days.
 
 ***IV.***
    ***Buying
      Membership Units***
 
 
 A. *Contacting
Husker Ag for Placement on the Bulletin Board* **.** A buyer
must first contact Husker Ag as described in Section I above and complete a
Buyer Registration Form. A copy of the Buyer Registration Form is attached as
Appendix B. The information on the Buyer Registration Form will require the
buyer to provide:
 
 Name
 Address,
City, State, Zip Code
 Telephone
Number
 E-mail
Address
 Number of
Units proposed to be bought
 Buyer's
Nonfirm Price Quote (on a per Unit basis)
 
 B. *Posting
of an Offer to Buy* **.**
 
 1.
    *Placing
      an Offer to Buy.*After completing the Buyer Registration Form, the buyer will be allowed to
      place an "offer to buy", subject to Husker Ag's review and verification as
      set forth below. Note: The buyer's "offer to buy" must be submitted in
      whole Units, and in whole dollars and cents. No "offer to buy" of partial
      or fractionalized Units may be posted on the Trading
    System.
 
 2.
    *Husker
      Ag Verification*.
      Upon submission of a Buyer Registration Form and an "offer to buy" for
      posting to the Trading System Bulletin Board, Husker Ag may take
      appropriate steps for the purpose of verifying buyer's qualification to
      purchase Units in accordance with these Rules and Procedures. If Husker Ag
      determines that the buyer is not eligible to purchase Units, Husker Ag
      will promptly notify the buyer and take appropriate action, including
      denying a listing of buyer's offer to buy on the Trading System Bulletin
      Board, or removal of an existing listing on the Bulletin
      Board.
  5
  3.
    *Confirmation
      of Offer to Buy.*It
      is the buyer's responsibility to confirm all "offer to buy" information
      placed on the Trading System Bulletin Board to avoid any mistakes that may
      have been made in the entry of buyer's information, including quantity of
      Units or the price per Unit to be
purchased.
 
 4.
    *Modification
      of Offer to Buy.*A
      buyer may modify an existing "offer to buy" at any time within the 30-day
      listing period. To modify an "offer to buy", a buyer must post a new
      "offer to buy" on the Trading System, and the new "offer to buy" will
      supercede and override the previous "offer to buy" made by the buyer and
      will receive a new date of entry.
 
 5.
    *Cancellation
      of an Offer to Buy Listing.*A
      buyer may cancel an "offer to buy" listing at time prior to the signing of
      a Purchase Agreement. Upon written notice of such cancellation, Husker Ag
      will remove the buyer’s "offer to buy" from the Trading System Bulletin
      Board. The buyer who cancels an "offer to buy" will not be eligible to
      post a new "offer to buy" until the following trimester, which new posting
      will not be made unless the "offer to buy" has been removed from the
      Trading System Bulletin Board for at least 60 calendar
    days.
 
 ***V.***
    ***Matching
      of Buyers and Sellers***
 
 A. *Seller
and Buyer Responsibility to Reach Agreement* *.* The
Husker Ag Trading System is intended solely to match a list
of interested buyers with a list
of interested sellers , along
with the nonfirm price quotes of buyers and sellers. The Trading System will not
automatically effect "matches" between potential sellers and buyers, nor will
Husker Ag personnel contact buyers or sellers about "matches" occurring on the
Bulletin Board. **It
is the sole responsibility of those sellers and buyers listed on the Trading
System to track the relevant information on the Bulletin Board and to contact
each other using the contact information provided and make a determination as to
whether an agreement as to price and terms may be reached** . Only
those sellers and buyers who have listed "offers to sell" or "offers to buy" on
the Trading System during the Listing Period will be eligible for Husker Ag
Board of Director approval of any Purchase Agreement reached between a seller
and buyer.
 
 6
 
 B. *Execution
of Purchase Agreements* *.*
 
 1.
    Buyer
      and seller are responsible for negotiating and finalizing the terms and
      conditions of the form of Purchase Agreement for the purchase and sale of
      Husker Ag Units. Husker Ag will have available for sellers and buyers upon
      request a base form of purchase agreement which contains the Trading
      System requirements, and to which the parties can add their specific
      provisions. Buyers and sellers are responsible for obtaining their own
      legal or other representation in connection with such transaction. While
      the terms and conditions of the executed form of Purchase Agreements may
      vary based on the mutual agreement of buyers and sellers, Husker Ag will
      require that the following terms be included in all Purchase Agreements.
      Failure to include such terms will result in non-approval of the proposed
      transaction under the Husker Ag Trading System Rules and Procedures.
 
 ·
    The
      Purchase Agreement, and closing of the sale of Unit transaction
      represented therein, must be subject to compliance with the Husker Ag
      Trading System Rules and Procedures, and the approval of the Husker Ag,
      LLC Board of Directors.
 
 ·
    The
      Purchase Agreement must describe the precise terms and conditions of the
      sale transaction, including the number of Units to be sold, and the price
      per Unit, and total price at which the transaction will occur, as well as
      the precise legal name of the seller and
buyer.
 
 ·
    The
      Purchase Agreement must provide that the buyer will become a member of
      Husker Ag, and execute a counterpart signature page to the Husker Ag
      Operating Agreement, as amended from time to time, as a condition to
      closing.
 
 ·
    The
      Purchase Agreement must provide that, in compliance with the Husker Ag
      Trading System Rules, no consideration will be paid by the buyer to the
      seller until after the Purchase Agreement has been approved by the Husker
      Ag Board of Directors, and within the time periods permitted pursuant to
      Section II(E) of the Trading System Rules and Procedures.
 
 2.
    *Delivery
      of the Purchase Agreement and Transfer Request Form to Husker
      Ag*.
      After execution of the Purchase Agreement, a copy of the executed
      agreement and a Transfer Request Form executed by the proposed seller(s)
      and proposed buyer(s) must be submitted to Husker Ag for approval in
      accordance with the deadlines set forth in Section II(D). A copy of the
      Transfer Request Form is attached as Appendix C. Failure to submit the
      executed Purchase Agreement and Transfer Request Form by the appropriate
      deadlines may disqualify the proposed sale transaction for approval by the
      Husker Ag Board of Directors. The Husker Ag Board of Directors or
      management may request additional information or documentation, as deemed
      necessary or appropriate, as a condition to reviewing or approving the
      Transfer Request Form and Purchase Agreement, including completion of the
      Husker Ag Member Information Form by the proposed
buyer.
   7
  After
      the Husker Ag Board either approves or disapproves the request for
      transfer and Purchase Agreement, Husker Ag personnel will promptly notify
      the buyer and seller of such decision and provide information concerning
      processing of the documentation to complete the transaction. All trades
      shall become effective upon such date as the Board of Directors designates
      in its resolution of approval. Generally, such effective date will be the
      last day of the respective trimester.
 
 3.
    Trading
      Timetable Summary: A
      Trading Timetable Summary is attached.
 
 **VI.**
    **General
      Rules concerning Husker Ag Trading
System**
 
 A. *Availability
of Past Trading System Records:* Husker
Ag will retain records of the buyer and seller quotations listed on the Trading
System, and information concerning finalized sales of Units, including buyer,
seller, price and number of Units sold, (all of which is referred to herein as
"Trading Information") for at least three years and make them available to the
SEC and to the Nebraska Department of Banking and Finance upon request. The
three-year Trading System history will also be made available to participants in
the Trading System upon request. Those buyers and sellers participating on the
Husker Ag Trading System consent by such participation to the publication of all
Trading Information by Husker Ag. Only those sellers and buyers who have listed
"offers to sell" or "offers to buy" on the Trading System during the Listing
Period will be eligible for Husker Ag Board of Director approval of any Purchase
Agreement reached between a seller and buyer.
 
 B. *No
Compensation to be Paid to Husker Ag or Affiliates:* Neither
Husker Ag nor any affiliate (including directors and officers) of Husker Ag will
(i) receive any compensation for creating or maintaining the Trading System;
(ii) receive any compensation for the use of the Trading System; (iii) be
involved in any purchase or sale negotiations arising from the Trading System;
(iv) give advice regarding the merits or shortcomings of any particular trade;
(v) use the Trading System directly or indirectly, to offer to buy or sell
securities, except in compliance with the securities laws, including any
applicable registration requirements (absent an available exemption therefrom);
or (vi) receive, transfer or hold funds or securities as an incident of
operating the Trading System.
 
 8
 
 Notwithstanding
the foregoing, directors, officers and employees of Husker Ag may participate as
buyers or sellers in the Trading System on their own behalf with respect to
Units which they beneficially own, provided they comply in all respects with
these Trading System Rules and Procedures. In any such transaction, such Husker
Ag director, officer or employee is acting solely on his or her own behalf, and
is not acting in his or her capacity as a director, officer or employee of
Husker Ag.
  C. *Limitation
on Amount of Membership Units Traded in Calendar Year:* Under IRS
regulations, the total of Husker Ag membership units which may be transferred
during any taxable year (which for Husker Ag is the calendar year) cannot exceed
10% of the total of Husker Ag Units (including private transfers which may have
occurred during the same year, and which may equal up to 2%). The Husker Ag
Trading System may be suspended at any time during a calendar year in which the
maximum allowable percentage has been met.
  In the
event the number of Husker Ag membership units proposed to be transferred
pursuant to Purchase Agreements submitted to the Husker Ag Board of Directors in
any trimester period would exceed the maximum allowable percentage under the IRS
qualified matching services regulations, the Husker Ag Board of Directors
intends to accept such Purchase Agreements which meet the Trading System
requirements on a "first come, first served" basis, based on the date of
submission of the Purchase Agreement to Husker Ag.
 
 D. *Additional
Information concerning the Husker Ag Trading System:* Participants
in the Husker Ag Trading System should be aware of the following information.
  ·
    Husker
      Ag Units are not listed on a national securities exchange or other
      regulated securities market.
  ·
    Husker
      Ag's Trading System is not a registered national securities exchange,
      securities information processor, broker, dealer or investment
      adviser.
  ·
    The
      information set forth on the Husker Ag Trading System does not consist of
      firm quotes, but rather is merely a list of the names, addresses and
      contact information of interested sellers and buyers, the number of Units
      offered or desired to be purchased, and the price at which the proposed
      transaction would occur. Husker Ag does not assure that any particular
      transaction will occur as to any particular number of Units or at any
      particular price. All transactions between participants must be executed
      by the participants independent of Husker Ag or any of its
      affiliates.
  ·
    All
      applicable state and federal securities laws (including the anti-fraud and
      anti-manipulation provisions) apply to any offer made or transaction
      consummated using the Husker Ag Trading
System.
   9
  ·
    Husker
      Ag's transfer agent is Bridges Investor Services, Inc., 256 Durham Plaza,
      8401 West Dodge Road, Omaha, Nebraska 68114, (402)
    397-4700.
  ·
    "Two-sided
      quotes" in which a person indicates a bid to buy at one price and an offer
      to sell at a higher price are prohibited.
  ·
    Under
      Section 4.3 of the Husker Ag Operating Agreement, no member together with
      its "affiliates" may own more than 30% of Husker Ag Units. An "affiliate"
      of the buyer is defined as any other person (which includes legal entities
      as well as individuals) (a) that directly, or indirectly through one or
      more intermediaries, controls, is controlled by or is under common control
      with the buyer, or (b) that is an executive officer, director or manager,
      or serves in a similar capacity with respect to the buyer, as determined
      by the Husker Ag Board of Directors in its sole discretion based on the
      facts and information available to the Board. The buyer will be required
      to represent to Husker Ag in the Transfer Request Form that buyer and
      buyer's affiliates are currently in compliance with this requirement, and
      will be in compliance with this requirement after such transfer, if the
      transfer of Units requested is approved.
  ·
    In
      accordance with Section 10.9 of the Husker Ag Operating Agreement and
      these Trading System Rules and Procedures, the Husker Ag Board of
      Directors determines the effective date of the transfer, if approved, and
      provides notice to the buying and selling parties of such effective date
      of transfer.
  ·
    The
      Husker Ag Board of Directors has adopted a policy that the Trading System
      is intended to be the exclusive method of trading Units for value in
      transactions which would otherwise be applied against the Trading System's
      maximum 10% annual limitation, except for extraordinary circumstances as
      determined by the Board in its sole discretion. Transfers such as bona
      fide gifts and transfers upon death which are not included in the 10%
      annual maximum limitation are not included in the
  policy.
 
 10
  **TRADING
      TIMETABLE SUMMARY**
      
      **(subject
      to conditions described in Rules and Procedures)**
      **** **Trimester
      Date**
    
    **Event**
    
    **Event
      Description**December
      1st, April 1st, and September 1st
    
    Initial
      Posting Date - commencement of Listing Period
    
    The
      first day that Buyers and Sellers may post their Offers to Buy and Offers
      to Sell UnitsDay
      30
    
    End
      of Listing Period
    
    The
      last day for Buyers and Sellers to post Offers to the Trading
      System15th
      calendar day following later of seller's or buyer's Posting
      Date
    
    Eligibility
      to enter into a Purchase Agreement
    
    The
      first day that a Purchase Agreement can be reached between eligible Buyers
      and SellersDay
      45 - fifteen calendar days following the termination of Listing
      Period
    
    Removal
      of buyer and seller posting information
    
    All
      buyer and seller posting information is removed from the Bulletin
      Board.January
      31st, May 31st, and October 31st
    
    Final
      day for submission of Purchase Agreements
    
    Deadline
      for submission of Purchase Agreement to Husker Ag Board for
      approvalFebruary,
      June and November
    
    Board
      of Directors approval time period
    
    Generally,
      the months during which the Board of Directors will consider approval of a
      request for transfer and Purchase AgreementMarch
      1st, August 1st and November 15th* (*subject to Board meeting
      date)
    
    Closing
      Date - Payment of Purchase Price
    
    The
      first day that the buyer can make payment to seller,providedHuskerAg Board of Directors has approved the transferMarch
      31, August 31 and November 30
    
    Closing
      - Transfer of Title to Units
    
    Generally,
      the last business day of the respective Trimester
Period
 
 
   11
  **Appendix
A**
 
 **Husker
Ag, LLC Trading System**
 
 **Seller
Registration Form**
 (Non-Binding
Offer to Sell)
 
 The
information on this Seller Registration Form is provided to Husker Ag, LLC
("Husker Ag"), for the purpose of listing an offer to sell Husker Ag membership
units ("Units") on the Husker Ag Trading System ("Trading System") bulletin
board.
  *Seller Name(s)*:*(please
      print or type)
 
 *The
Seller name(s) should be identical to the name or names listed on the Husker Ag
membership certificate. If more than one owner is shown on the membership
certificate, all owners shown must sign below.
  *Seller Address:*
 
 
 *Seller Telephone Numbers:*
 **
*Seller E-mail Address:*
 
 *Preferred
      method of contacting Seller (e.g., mail, telephone, e-mail,
      other):*
  *Husker Ag Certificate Number(s) for Units to be listed for
      sale:*[For internal Husker Ag use only]
  *Number of Units to be listed for sale on
      the Husker Ag Trading System Bulletin Board:*
    Units*Seller's Nonfirm Price Quote (on a per
      Unit basis):*
    $________
      per Unit
  The
undersigned Seller (whether one or more) acknowledges receipt of the Husker Ag
Trading System Rules and Procedures, and agrees that the listing of Seller's
offer to sell Units will be subject in all respects to such Rules and
Procedures, and Seller agrees to follow in all respects the Trading System Rules
and Procedures. Seller acknowledges that the information provided on this Seller
Registration Form will be listed on the Husker Ag Trading System bulletin board
and be publicly available information. The undersigned Seller also understands
and acknowledges that any sale of Units is subject to the approval of the Husker
Ag, LLC Board of Directors and the terms and conditions of the Husker Ag, LLC
Operating Agreement.
  Date:__________________[Name of Seller(s) as shown on Husker Ag
      membership certificate][Seller(s)
      Signature] [Title, if applicable]
 
  
 
  12
  **Appendix
B**
 **Husker
Ag, LLC Trading System**
 
 **Buyer
Registration Form**
 (Non-Binding
Offer to Buy)
 
 The
information on this Buyer Registration Form is provided to Husker Ag, LLC
("Husker Ag"), for the purpose of listing an offer to buy Husker Ag membership
units ("Units") on the Husker Ag Trading System ("Trading System") bulletin
board.
  *Buyer Name(s)*:*(please
      print or type)
 
 *The
Buyer name(s) should be identical to the name or names listed on the Husker Ag
membership certificate if buyer is successful in purchasing Units.  If more
than one owner is to be shown on the membership certificate, all owners shown
must sign below.
  *Buyer Address:*
 
 
 *Buyer Telephone Numbers:*
 **
*Buyer E-mail Address:*
 
 *Preferred
      method of contacting Buyer (e.g., mail, telephone, e-mail,
      other):*
  *Number of Units to be listed in Buyer's
      offer to buy on the Husker Ag Trading System bullentin
    board:*
    _________ Units*Seller's Nonfirm Price Quote (on a per
      Unit basis):*
    $________
      per Unit
 
 The
undersigned Buyer (whether one or more) acknowledges receipt of the Husker Ag
Trading System Rules and Procedures, and agrees that the listing of Buyer's
offer to buy Units will be subject in all respects to these Rules and
Procedures, and Buyer agrees to follow in all respects the Trading System Rules
and Procedures. Buyer acknowledges that the information provided on this Buyer
Registration Form will be listed on the Husker Ag Trading System bulletin board
and be publicly available information. The undersigned Buyer also understands
and acknowledges that any purchase of Units is subject to the approval of the
Husker Ag Board of Directors and the terms and conditions of the Husker Ag
Operating Agreement.
 Date:__________________[Name of Buyer(s)][Buyers(s)
      Signature]  [Title, if applicable]
 
 13
  **Appendix
C**
 
 **HUSKER
AG, LLC TRADING SYSTEM**
 
 **TRANSFER
REQUEST FORM**
  The
undersigned proposed seller ("Seller") and proposed buyer ("Buyer") of Husker
Ag, LLC membership units ("Units") hereby submit this Transfer Request Form to
the Husker Ag, LLC Board of Directors pursuant to the Husker Ag, LLC ("Husker
Ag") Trading System Rules and Procedures. **The
undersigned represent and warrant to Husker Ag that they have followed, and will
follow, in all respects the Husker Ag Trading System Rules and Procedures,
including without limitation, restrictions on the payment of the purchase
price.**
 
 The
undersigned parties have entered into a purchase agreement for Husker Ag Units,
an executed copy of which is attached to this Transfer Request Form. In
addition, Buyer has enclosed with this Transfer Request Form a duly executed
Membership Basic Information Form.
 
 The
undersigned parties acknowledge and agree to the following:
 
 (1) The
transfer of Husker Ag Units is restricted under the terms of the Husker Ag
Second Amended and Restated Operating Agreement (the “Operating Agreement”).
 
 (2) No
transfer can take place without the prior written approval of the Husker Ag, LLC
Board of Directors. No member may transfer any Unit, if such transfer would
cause Husker Ag to be treated as a publicly traded partnership for federal tax
purposes. An opinion of Husker Ag’s legal counsel with respect to compliance
with federal tax law is required before the Board of Directors will consider the
approval of a transfer.
 
 (3) Under
Section 4.3 of the Operating Agreement, no member together with its "affiliates"
may own more than 30% of Husker Ag Units. An "affiliate" of the Buyer is defined
as any other person (which includes legal entities as well as individuals) (a)
that directly, or indirectly through one or more intermediaries, controls, is
controlled by or is under common control with the Buyer, or (b) that is an
executive officer, director or manager, or serves in a similar capacity with
respect to the Buyer, as determined by the Husker Ag Board of Directors in its
sole discretion based on the facts and information available to the Board. The
undersigned Buyer represents to Husker Ag that Buyer and Buyer's affiliates are
currently in compliance with this requirement, and will be in compliance with
this requirement after such transfer, if the transfer of Units requested
hereunder is approved.
 
 (4) The
undersigned parties understand that additional information may be requested,
including certification of relevant facts necessary for a legal opinion, and
that after review by Husker Ag's legal counsel, the Board of Directors will
notify requesting parties of its decision. The undersigned further understands
that a Transfer Request Form must accompany each contract
for sale entered into by the undersigned during a single trading trimester under
the Husker Ag Trading System. There is no fee charged by Husker Ag in connection
with this Request for Transfer.
 
 (5) In accordance
with Section 10.9 of the Operating Agreement and the Trading System Rules and
Procedures, the Husker Ag Board of Directors shall determine the effective date
of the transfer, if approved, and shall provide notice to the undersigned
parties of such effective date of transfer.
 
 14
 
 Request
for Transfer:
 
 In
accordance with the foregoing, the undersigned parties hereby request approval
to transfer _______ Membership Units pursuant to the attached contract for sale
of Husker Ag Units.
 
 *Husker
Ag Certificate Number(s) proposed to be transferred* :
 
 ________________________________________________
 
 If
approved by Husker Ag, Seller will deliver the original Husker Ag membership
certificate(s), duly executed for transfer, or accompanied by a duly executed
irrevocable transfer power, to the Husker Ag Transfer Agent, or as otherwise
directed by Husker Ag. In no event will Husker Ag take delivery or possession of
Husker Ag membership certificates or any consideration to be paid from Buyer to
Seller in connection with the transfer requested hereunder. If approved by
Husker Ag, Buyer will be provided with a copy of the Husker Ag Operating
Agreement and signature page addendum, which Buyer will sign as instructed and
promptly return to Husker Ag legal counsel, or as otherwise directed by Husker
Ag.
 
 ****
 **CONTACT
INFORMATION:**
 
 **Proposed
      Seller(s):**
    
    **Proposed
      Buyer(s):**(Print
      Name)
    
    (Print
      Name)Address
    
    AddressTelephone
      Number
    
    Telephone
      Number**SIGNATURES:**
    ****
    ********
    ****
    ******Proposed
      Seller(s):**
    ****
    **Proposed
      Buyer(s):**






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