**Exhibit 10.26**

**PROMISSORY NOTE**
| **$1,810,000** | **VOLGA, SOUTH DAKOTA** |
|----------------|-------------------------|
| ** **     | **January 6, 2007**     |

 

FOR VALUE RECEIVED, the undersigned promises to pay to the order of theState of South Dakota, Department of Transportation, Office of Local TransportationPrograms, 700 East Broadway Avenue, Pierre, South Dakota 57501-2586, at Pierre,South Dakota, or at such place as the holder hereof may direct in writing, thesum of **One Million Eight Hundred Ten ThousandDollars ($1,810,000)**, together with interest thereon at the rate of **4.875%** per annum to be paid in regularamortized installments as follows: payment of **TwoHundred Thirty Two Thousand Nine Hundred Fifty Dollars ($232,950.00)**,on the First day of **October, 2008**,and a like payment of **Two Hundred Thirty TwoThousand Nine Hundred Fifty Dollars ($232,950.09)** on each yearthereafter through the First day of **October,2016**, and one payment of **TwoHundred Thirty Three Thousand Three Hundred Fifty Six Dollars and Thirty-threecents ($233,356.33)**, on the First day of **October, 2017**, at which time the entire amount of principaland interest, if any, shall be due and payable. Upon each of said payments,interest shall first be deducted and the balance thereon applied towardsprincipal.  Interest will be calculated basedon the date actual payment is received by the State.  The maker hereof shall have full right ofprepayment.

If default be made in the payment of any of said installments when due,the holder of this note may, at his option, declare all unpaid indebtednessevidence by this note immediately due and payable, and there upon theundersigned agrees to pay all costs of collection, including attorney feesallowed by law, if any.  Failure at anytime to exercise such option when entitled to do so shall not constitute awaiver of the right to exercise it later. The holder rearrange, adjust,

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andextend the times and amounts of payments of interest and/or principal of thisnote by agreement with the present or subsequent owner of the property securingthe same, without notice to our consent of and without releasing any partliable thereon.

The maker, endorsers, sureties, and guarantors hereof hereby severallywaive presentment for payment, notice of nonpayment, protest and notice ofprotest and the endorsers, sureties and guarantors hereof hereby severallyconsent that the time of payment may be extended or this note renewed withoutnotice to them and without affecting their liability thereon.
| BROOKINGS COUNTY REGIONAL RAILROAD AUTHORITY (LOANEE) |
|-------------------------------------------------------|
|                                                  |
|                                                  |
| /s/ Donald  Larson                                    |   |   |   |
|                                                  |   |   |   |
| SOUTH DAKOTA SOYBEAN PROCESSORS LLC (GUARANTOR)       |
|                                                  |
|                                                  |
| /s/ Rodney  Christianson                              |   |   |   |

 

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ACKNOWLEDGED
| STATE OF SOUTH DAKOTA) |
|------------------------|
|                   | :SS |
| COUNTY OF BROOKINGS    | ) |

 

On this 27th day of February, 2007, before me, a Notary Public withinand for said County and State, personally appeared Don Larson, known to me tobe the person who executed the above document and acknowledged to me that hedid sign the foregoing document for the purposes herein stated.
|        |                                 |
|--------|--------------------------------------|
|   | NOTARY PUBLIC                        |
| (SEAL) | My Commission Expires: March 8, 2012 |

 

ACKNOWLEDGED
| STATE OF SOUTH DAKOTA) |
|------------------------|
|                   | :SS |
| COUNTY OF BROOKINGS    | ) |

 

On this 6tb day of March, 2007, before me, a Notary Public within andfor said County and State, personally appeared Rodney Christianson, known to meto be the person who executed the above document and acknowledged to me that hedid sign the foregoing document for the purposes herein stated.
|        | /s/ Beverly Kleinjan                     |
|--------|------------------------------------------|
|   | NOTARY PUBLIC                            |
| (SEAL) | My Commission Expires:  October 20, 2012 |

 

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RAILROAD TRUST FUND LOAN

AMORTIZATION SCHEDULE

BROOKINGSCOUNTY REGIONAL

RAILROAD AUTHORITY LOAN

VOLGA,SD

CONTRACT #

AMORTIZATION SCHEDULE -ANNUAL INSTALLMENTS
| LOAN AMOUNT        |   | 1,810,000 |   |   |   |   |   |   |   |
|--------------------|--------|-----------|--------|--------|--------|--------|--------|--------|--------|
| INTEREST RATE      |   | 4.875     | %      |   |   |   |   |   |   |
| TERM (YEARS)       |   | 10        |   |   |   |   |   |   |   |
| INSTALLMENT AMOUNT |   | 239,950   |   |   |   |   |   |   |   |

 
| ** **            | ** ** | ** **    | ** ** | ** **   | ** ** | ** **   | ** ** | **PRINCIPAL** | ** ** |
|-----------------------|------------|---------------|------------|--------------|------------|--------------|------------|---------------|------------|
| **PAYMENT DATE** | ** ** | **PRINCIPAL** | ** ** | **INTEREST** | ** ** | **TOTAL**    | ** ** | **BALANCE**   | ** ** |
| ** **            | ** ** | ** **    | ** ** | ** **   | ** ** | ** **   | ** ** | ** **    | ** ** |
| 10/02/2009            |       | 151,767.23    |       | 81,182.77    |       | 232,950.00   |       | 1,513,520.27  |       |
| 10/02/2010            |       | 159,165.89    |       | 73,784.11    |       | 232,950.00   |       | 1,354,354.38  |       |
| 10/02/2011            |       | 166,925.22    |       | 66,024.78    |       | 232,950.00   |       | 1,187,429.16  |       |
| 10/01/2012            |       | 175,062.83    |       | 57,887.17    |       | 232,950.00   |       | 1,012,366.33  |       |
| 10/02/2013            |       | 183,597.14    |       | 49,352.86    |       | 232,950.00   |       | 828,769.19    |       |
| 10/02/2014            |       | 192,547.50    |       | 40,402.50    |       | 232,950.00   |       | 636,221.69    |       |
| 10/02/2015            |       | 201,934.19    |       | 31,015.81    |       | 232,950.00   |       | 434,287.50    |       |
| 10/01/2016            |       | 211,778.48    |       | 21,171.52    |       | 232,950.00   |       | 222,509.02    |       |
| 10/02/2017            |       | 222,509.02    |       | 10,847.31    |       | 233,356.33   |       | 0.00          |       |
|                  |       |          |       |         |       |         |       |          |       |
|                  |       | 1,810,000.00  |       | 519,906.33   |       | 2,329,906.33 |       |          |       |

 

BROOKINGS CO RRA

601 4TH STREET STE 101

BROOKINGS,SD 57006

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**GUARANTY**

In consideration of the loan evidenced by the within note and for valuereceived, **South Dakota Soybean ProcessorsLLC, P0 Box 500, Volga, South Dakota, 57071-0500**, guarantees theprompt payment to the State of South Dakota, Department of Transportation,Office of Local Transportation Programs of the liabilities and indebtedness ofthe maker of this promissory note up to the amount of **One Million Eight Hundred Ten Thousand Dollars($1,810,000)**, plus any interest accrued on that amount in accordancewith the terms and conditions of the note.

The liability of the undersigned under this guaranty shall be directand not conditional or contingent on the pursuit of any remedies against anymaker or indorser, or against any collateral held as security for the paymentof the note.

Notice of acceptance is waived. This shall be a continuing guarantyextending to any notes given in extension or renewal of this note,notwithstanding that the original note may have been surrendered, provided theliability of the undersigned shall not be increased over the amount containedin the original note plus accrued and unpaid interest.

Dated at Volga, Brookings County, South Dakota, on the 6th day ofMarch, 2007.
| **South Dakota Soybean Processors, LLC** |                     |
|------------------------------------------|--------------------------|
| ** **                               |                     |
| ** **                               |                     |
| BY                                       | /s/ Rodney  Christianson |   |   |
| Its:                                     | Chief Executive  Officer |   |   |

 

ACKNOWLEDGED
| STATE OF South Dakota) |
|------------------------|
|                   | :SS |
| COUNTY OF Brookings    | ) |

 

On this 6th day of  March 2007,before me, a Notary Public within and for said County and State, personallyappeared Rodney Christianson, known to me to be the Chief Executive officer ofSouth Dakota Soybean Processors LLC who executed the above document andacknowledged to me that such Corporation did execute the foregoing document forthe purposes herein stated.
|        | /s/ Beverly  Kleinjan                   |
|--------|-----------------------------------------|
|   | NOTARY PUBLIC                           |
| (SEAL) | My Commission Expires: October 20, 2012 |

 

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