**Exhibit 10.25**

 

**HOMEFEDERAL BANK**

**PROMISSORY NOTE MODIFICATION AGREEMENT**

 
| Modification  #3544 |   | Loan #9206756 |
|---------------------|--------|---------------|

 

This Agreement is made asof February 28, 2005, between Home Federal Bank having its office at 225South Main Avenue, Post Office Box 5000, Sioux Falls, South Dakota 57117-5000 (“Lender”)and Great Plains Ethanol LLC, 27716 462nd Ave., Chancellor, SD 57015(“Borrower”).

 

RECITALS:

 

A.                                   Lenderis the holder of a Promissory Note of Borrower dated February 28, 2003payable to the Lender in the original principal amount not to exceed$1,600,000.00 (the “Loan”).

 

B.                                     Lenderis willing to modify payment terms of the Loan evidenced by the Loan Documentsin the manner set forth below.  Theseproposed changes are requested by and acceptable to Borrower.  Borrower acknowledges that the Loan Documentsshall remain the legal and binding obligation of Borrower, endorsers andguarantors, free of any claim, defense or offset.

 

Accordingly,in consideration of the premises and other good and valuable consideration,each paid to the other, the parties agree as follows:

 

1.                                       Effectiveas of, N/A and until the Loan is fully paid or Lender changes the number ofbasis points or the Index, whichever is the first to occur, the unpaid balanceof the Loan shall bear interest at a variable rate of N/A basis points inexcess of the N/A (“Index”).  Lender, atits discretion, may change the number of basis points or Index upon thirty (30)days’ prior written notice to Borrower.

 

2.                                       Theunpaid principal balance of the Loan and interest thereon shall be paid in fullon or before March 1, 2006.

 

3.                                       Themaximum amount of the Loan is changed to and shall not exceed $1,125,000.00.

 

4.                                       TheLoan Documents are amended to the extent necessary to reflect the changes setforth above.  No other amendments aremade to the Loan Documents.  Except asamended herein, the terms and conditions contained in the Loan Documents, andthe Related Documents described therein, shall continue to govern therelationship of the parties.

 

5.                                       Itis understood and agreed by the parties that this Agreement shall not operateas a novation of the Loan Documents or the Loan.

 

6.                                       ALoan Modification Fee of $2,812.50 will be charged.

 

IN WITNESS WHEREOF, theparties hereto each duly executed this Agreement as of the day and year firstabove written.

 
|   | HOME FEDERAL  BANK        |
|--------|---------------------------|
|   |                      |
|   |                      |   |
|   | BY:                       | /s/ Terry  Cleberg |   |
|   | ITS:                      | Vice President |   |
|   |                      |
|   |                      |
|   | BORROWER:                 |
|   |                      |
|   | GREAT PLAINS  ETHANOL LLC |
|   |                      |
|   | /s/ Darrin Ihnen          |   |
|   | DARRIN IHNEN,  PRESIDENT  |
|        |                           |  |  |  |  |

 

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