exhibit1003.htm


    
      
         


      

      
         


        
        

      

      
         


      

    


    APPLICABLE
DOCUMENTARY STAMP TAXES HAVE BEEN PAID ON

    AND
AFFIXED TO THE MORTGAGE SECURING THIS NOTE

    


    


    
      	 
      	
              Alico
      $60,000,000 Line of Credit 2010

            
	 
      	
              Real
      Estate Line of Credit: 10053600

            


    

     

    LINE OF CREDIT
NOTE

     

    
      	
              $60,000,000.00

            	
              September  8,
      2010

            


    

    FOR VALUE
RECEIVED, the undersigned (individually and collectively, “Borrower”), hereby
promise to pay to the order of RABO AGRIFINANCE, INC., a Delaware corporation
(“Lender”) the
principal sum of Sixty Million Dollars and No Cents ($60,000,000.00) or, if
less, the aggregate principal sum of all Line of Credit Loans, and interest at
the rate specified in the Credit Agreement between Borrower and Lender dated as
of the date hereof (the "Credit
Agreement").  Principal and interest are payable to Lender at
the times specified in the Credit Agreement.  All payments shall be
made to Lender in lawful money of the United States of America at 12443 Olive
Boulevard, Suite 50, St. Louis, MO 63141, or such other place as Lender
directs, in same day funds.  Each capitalized term used in this note
that is defined in the Credit Agreement will have the meaning specified in the
Credit Agreement.

     

    This note
is referred to in, and is subject to the terms and conditions of the Credit
Agreement.  Without limitation, the Credit Agreement (i) provides for
the making of Line of Credit Loans by Lender to Borrower from time to time in an
aggregate amount not to exceed at any time outstanding the amount specified
above, and (ii) contains provisions for acceleration of the maturity hereof upon
the occurrence of certain stated events.

     

    This Term
Loan Note is secured by the Collateral Documents (defined in the Credit
Agreement) and any other collateral or security documents now or hereafter
executed and delivered by Borrower to Lender.

     

    Borrower
has executed and delivered this Line of Credit Note as of the day and year first
written above.

     

    


     

    BORROWER

     

    Alico, Inc., a Florida
corporation

     

    By:           /s/ JD
ALEXANDER

     

    JD
Alexander                                                                                                                     

     Its:          Chief
Executive Officer

     

    Alico-Agri, Ltd., a Florida limited
partnership

     

    By:           Alico,
Inc., a Florida corporation,

     

    its General Partner

     

    By:           /S/ JD
ALEXANDER                                                                                       

    Its:           Chief
Executive Officer

     

    Alico Plant World, L.L.C., a Florida
limited liability company

     

    By:           Alico,
Inc., a Florida corporation,

     

    its Manager

     

    By:           /S/ JD
ALEXANDER

     

                    Its:          Chief
Executive Officer

     


    
      
        
          Alico
Real Estate Line of Credit Note $60,000,000

          


           

        

         


      

      
         


        
          

        

      

      
         


      

    


    Bowen Brothers Fruit, LLC, a Florida
limited liability company

     

    By:           Alico,
Inc., a Florida corporation,

     

    its Managing Member

     

    By:           /S/ JD
ALEXANDER

     

                    Its:          Chief
Executive Officer

     

    Alico Land Development Inc., a Florida
corporation

     

    By:          /S/ JD
ALEXANDER

     

    Its:          Chief
Executive Officer

     

     

    


     

    



    
      
        
          Alico
Real Estate Line of Credit Note $60,000,000