Execution
Draft


TERM
SHEET


FOR


THE USE
OF CASH COLLATERAL AND ADEQUATE PROTECTION


BY


OTTER
TAIL AG ENTERPRISES, LLC,


AS DEBTOR
IN POSSESSION,


IN ITS
PROPOSED BANKRUPTCY CASE IN THE


UNITED
STATES BANKRUPTCY COURT, DISTRICT OF MINNESOTA





Effective
as of October 23, 2009





AGSTAR
FINANCIAL SERVICES, PCA, as the cash collateral lender (the “Cash Collateral Lender”), and
MMCDC New Markets Fund II, LLC (“NMF”)hereby provide OTTER
TAIL AG ENTERPRISES, LLC, a Minnesota limited liability company (the “Debtor”), with the following
proposal for the use of cash collateral and adequate protection during the
Debtor’s proposed Chapter 11 case pursuant to the terms of a cash collateral
stipulation which is consented to by NMF (the “Cash Collateral
Stipulation”).





Reference
is made herein to the following AgStar Loan Agreements (collectively, the “AgStar Loan
Agreements”):





a.
            Master
      Loan Agreement dated March 28,
2007;





b.
            First
      Supplement to the Master Loan Agreement (Construction and Term Loan) dated
      as of March 28, 2007;





c.
            Amended
      and Restated Master Loan Agreement dated as of June 23,
    2008;





d.
            Amended
      and Restated Second Supplement to the Master Loan Agreement (Term
      Revolving Loan) dated as of June 23, 2008;
and





e.
            Second
      Amended and Restated Third Supplement to the Master Loan Agreement (the
      “Revolving Line of Credit Loan”) dated as of June 23,
  2008.





Reference
is made herein to the following NMF Notes and Loan Agreements (collectively, the
“NMF Loan
Agreements”):





a.
            Senior
      Loan Note dated March 30, 200;





b.
            Subordinate
      Loan Note dated March 30, 2007;





c.
            Construction
      and Term Loan Agreement dated March 30,
2007.





Unless
otherwise expressly defined herein, capitalized terms used herein shall have the
same meaning ascribed to them in the AgStar Loan Agreements. Terms and
conditions of the proposal are as follows:





Debtor:
              
              Otter
      Tail Ag Enterprises, LLC, a Minnesota limited liability company, as Debtor
      in Possession in its proposed Chapter 11 case in the United States
      Bankruptcy Court, District of Minnesota (the “Debtor’s Chapter 11
      Case”).









Cash
      Collateral Lender:
                
                AgStar
      Financial Services, PCA.Prepetition
      Lenders:
                
                Collectively
      the Cash Collateral Lender and NMF.Prepetition
      Loans:
                
                Collectively,
      all amounts due the Prepetition Lenders under the AgStar Loan Agreements
      and the NMF Loan Agreements as of the Commencement
Date.Commencement
      Date:
                
                The
      date the Interim Order is entered and becomes
effective.Cash
      Collateral:
                
                As
      defined in § 363(a) of the Bankruptcy Code.Purposes:
                
                Cash
      Collateral may be used by the Debtor to fund the expenses set forth in the
      budget attached as Exhibit
      A (the “Budget”).After making the Re-margin
      Payment, to the extent there is, if any, excess cash generated above the
      Cash Beginning Balance, as determined under the reports required under the
      Interim Order, the Final Order, the Cash Collateral Stipulation or the
      other Cash Collateral Documents, that excess cash shall be paid to the
      Cash Collateral Lender to be applied to the reduction of the Revolving
      Line of Credit Loan.Upon
      entry of the Interim Order approving the Cash Collateral Stipulation and
      the other Cash Collateral Documents (excluding the Final Order), each of
      which must be acceptable to the Cash Collateral Lender, and satisfaction
      of the conditions precedent to the Debtor’s use of Cash Collateral set
      forth in the Interim Order and the other Cash Collateral Documents
      (excluding the Final Order), the Cash Collateral Lender shall authorize
      the use of Cash Collateral for the purposes described in the Interim Order
      and the other Cash Collateral Documents (excluding the Final Order) and
      itemized in the Budget, subject to the terms and conditions set forth in
      the Interim Order and the other Cash Collateral Documents (excluding the
      Final Order).Upon
      entry of the Final Order on or before November 30, 2009, approving the
      Cash Collateral Stipulation and other Cash Collateral Documents, each of
      which must be acceptable to the Cash Collateral Lender, and satisfaction
      of the conditions precedent to the Debtor’s use of Cash Collateral set
      forth in the Final Order, the Cash Collateral Stipulation and the other
      Cash Collateral Documents, the Cash Collateral Lender shall authorize the
      use of Cash Collateral for the purposes described in the Final Order, the
      Cash Collateral Stipulation and the other Cash Collateral Documents and
      itemized in the Budget, subject to the terms and conditions set forth in
      the Final Order and the other Cash Collateral
Documents.Nothing
      in the Interim Order, the Final Order, the Cash Collateral Stipulation or
      the other Cash Collateral Documents shall bind the Cash Collateral Lender
      to any Plan incorporating the terms set forth in the Cash Collateral
      Documents, without the prior express written consent of the Cash
      Collateral Lender.




2




Maturity
      Dates:
              
              The
      Interim Order will mature on the earliest of (i) the entry of the Final
      Order, (ii) November 30, 2009, or (iii) such earlier date as is provided
      in the Interim Order or the other Cash Collateral Documents (excluding the
      Final Order) (the “Interim Cash Collateral Order
      Maturity Date”).The
      Cash Collateral Stipulation will mature on (i) February 28, 2010, or (ii)
      such earlier date as is provided in the Final Order or the other Cash
      Collateral Documents (the “Cash Collateral Maturity
      Date”).Conditions
      Precedent To Allowing the
              
              ·
              Execution
      and delivery of the Cash Collateral Stipulation satisfactory to the Cash
      Collateral Lender;Interim
      Use of Cash
                Collateral:
              
              ·
              Execution
      and delivery of such other notes, mortgages, security agreements, control
      agreements, documents, and agreements as may be required by the Cash
      Collateral Lender satisfactory to the Cash Collateral Lender (together
      with the Cash Collateral Stipulation, the Interim Order and the Final
      Order, collectively the “Cash Collateral
      Documents”);·
              Entry
      of the Interim Order;·
              All
      other conditions precedent to allowing the interim use of Cash Collateral
      as set forth in the Interim Order and the other Cash Collateral Documents
      (excluding the Final Order); and·
              Debtor
      shall pay to the Cash Collateral Lender the amount necessary to reduce the
      Revolving Line of Credit to an amount no greater than 100% of the sum of
      the Debtor’s Eligible Accounts Receivable and Eligible Inventory (“the
      Re-Margin
      Payment”).·
              Debtor
      shall pay all interest accrued at the contract rate, rather than the
      Default Rate, on the Prepetition Loans payable on or after October 1,
      2009.Conditions
      Precedent To
      Allowing the
              
              ·
              Execution
      and delivery of the Cash Collateral Stipulation satisfactory to the Cash
      Collateral Lender;Final
      Use of Cash
              
              ·
              Entry
      of the Final Order; andCollateral:
              
              ·
              All
      other conditions precedent to allowing the use of Cash Collateral set
      forth in the Final Order, the Cash Collateral Stipulation and the other
      Cash Collateral Documents.Postpetition
      Security Interest:
              
              The
      Debtor shall grant to the Cash Collateral Lender a first priority
      perfected Security Interest in all of the real and personal property of
      the Debtor, whether now owned or hereafter acquired (collectively, the
      “Collateral”),including any
      Collateral acquired by the Debtor after the commencement of the Debtor’s
      Chapter 11 Case, as such property is more fully described in the AgStar
      Loan Agreements, which security interest shall have the same priority,
      dignity and effect as the prepetition security interests, without any
      requirement for the execution, delivery,recording or filingof any security
      agreement, mortgage, deed of trust, control agreement, financing statement
      or similar document, instrument or agreement covering such Collateral;
      provided, however,that the
      Security Interests granted to the Cash Collateral Lender under the Interim
      Order, the Final Order or the other Cash Collateral Documents shall not
      extend to causes of action under Chapter 5 of the Bankruptcy Code or the
      proceeds thereof.




3




During
      the term of the Cash Collateral Stipulation, Debtor shall not grant or
      permit any Security Interest in the Collateral to any other Person, other
      than certain permitted liens agreed to by the Cash Collateral Lender (the
      “Permitted
      Liens”).Administrative
      Expense Claims:
              
              The
      Cash Collateral Lender shall have all administrative expense priorities
      allowed under Title 11 of the United States Code (the “Bankruptcy
      Code”).Interest
      Rate:
              
              Interest
      shall accrue on the Prepetition Loans at the Default Rate provided by the
      AgStar Loan Agreements and the NMF Loan Agreements.Interest
      shall be calculated in the manner set forth in the AgStar Loan Agreements
      and the NMF Loan Agreements.Adequate
      Protection and Interest Payments:
              
              The
      Debtor shall provide to the Prepetition Lenders the following as and for
      adequate protection during the term of the Cash Collateral
      Stipulation:·
              Accrued
      interest at the contract rate, rather than the Default Rate, on the
      Prepetition Loans shall be paid by the Debtor to the Prepetition Lenders
      on the first day of each month, beginning on October 1, 2009, and monthly
      thereafter, through the Cash Collateral Maturity Date, to the Prepetition
      Lenders; provided,
      however,that the rights of all interested parties to later assert
      that the Adequate Protection Payments should be re-allocated to principal
      in accordance with § 506 of the Bankruptcy Code are
    preserved.·
              Debtor
      shall maintain a minimum cash balance at all times through the Cash
      Collateral Maturity Date of $2,000,000, measured as of the close of
      business each Friday and included in the financial reports required
      herein.·
              Provide
      the Prepetition Lenders with the financial and operating reports set forth
      herein.·
              The
      Debtor shall pay all real estate taxes and assessments on all of the
      Collateral which become due and payable after the commencement of the
      Debtor’s Chapter 11 Case, including the October 15, 2009, real estate
      taxes.·
              The
      Debtor shall maintain all of the Collateral and shall provide proof of
      insurance as required by the AgStar Loan Agreements and the NMF Loan
      Agreements to the Prepetition
Lenders.




4







Reports:
                    
                    So
      long as the Debtor is utilizing Cash Collateral, the Debtor shall, unless
      the Cash Collateral Lender shall otherwise consent in advance in
      writing:·
                    Provide
      the Cash Collateral Lender with all reports required to be delivered by
      the Debtor under Section 5.01(c) of the Master Loan
    Agreement.·
                    Provide
      the Cash Collateral Lender with all reports filed with the United States
      Trustee in the Debtor’s Chapter 11 Case;·
                    By
      5:00 p.m. (Central Time) on Thursday of each week, provide the Cash
      Collateral Lender a weekly report comparing on a line item basis budgeted
      amounts, as itemized in the Budget, to actual amounts disbursed during the
      preceding week; and·
                    By
      5:00 p.m. (Central Time) on Thursday of each week, provide the Cash
      Collateral Lender a weekly report itemizing all expenditures during the
      preceding week for each of the following:·
                    Corn;·
                    Denaturant;·
                    Chemicals;·
                    Natural
      gas;·
                    Electricity;·
                    Water;·
                    Transportation;·
                    Rail
      car lease payments;·
                    Fixed
      and variable terminal fees;·
                    Plant
      overhead (non-labor);·
                    Payroll;·
                    Excise
      and sales taxes remitted;·
                    Insurance;·
                    Severance;
      and·
                    All
      other expenses.·
                    By
      5:00 p.m. (Central Time) on Thursday of each week, provide the Cash
      Collateral Lender its certification of the ledger balance of all deposit
      accounts of the Debtor as of the close of business on the immediately
      preceding Friday.Plan
      of Reorganization:
                    
                    The
      Debtor shall file a plan of reorganization (the “Plan”),acceptable to the
      Prepetition Lenders, on or before the Cash Collateral Maturity
    Date.At
      a minimum, the Plan shall not be deemed acceptable to the Prepetition
      Lenders unless:·
                    The
      Plan provides for and treats the Prepetition Lenders as fully secured
      creditors.




5




·
                      The
      Plan provides that the Project will be free from any and all subordinate
      mortgages, liens, and encumbrances, including any lessor’s interests,
      except as may be accepted by the Prepetition Lenders.Equity
      Commitments:
                      
                      The
      Debtor shall obtain subscription letters, acceptable to the Prepetition
      Lenders, in an amount not less than $6,000,000.00 on or before January 15,
      2010. The Debtor shall obtain subscription letters, acceptable to the
      Prepetition Lenders, in an amount not less than $10,000,000 on or before
      February 28, 2010.Sale
      of Ethanol Facility:
                      
                      If
      no Plan acceptable to the Prepetition Lenders is filed by the Cash
      Collateral Maturity Date, the Debtor shall file, within ten (10) Business
      Days thereafter, a motion to sell the Debtor’s assets, including the
      ethanol production facility, free and clear of interests, liens,
      encumbrances and claims pursuant to Bankruptcy Code § 363(b) and (f). Such
      motion must be accompanied by sales procedures acceptable to the
      Prepetition Lenders, including that any such sale shall close not later
      than April 1, 2010.Within
      ten (10) Business Days of filing such motion, the Debtor shall engage a
      financial advisor reasonably acceptable to the Prepetition Lenders to
      manage the sale of the ethanol facility.Events
      of Default:
                      
                      The
      occurrence of any of the following shall constitute an Event of Default
      under the Cash Collateral Documents:·
                      Failure
      to comply with the terms and conditions set forth in the Interim Order,
      the Final Order, the Cash Collateral Stipulation, the other Cash
      Collateral Documents, and the AgStar Loan Agreements (except those Events
      of Default set forth in Section 6.01(g) of the Master Loan Agreement which
      constitutes one of the AgStar Loan Agreements and except for any Event of
      Default arising as a result of the filing or the pendency of the Debtor’s
      Chapter 11 Case);·
                      If
      required under the Sale of Ethanol Facility provision, failure to retain
      and employ a Financial Advisor acceptable to the Prepetition Lenders to
      manage the sale of the ethanol facility;·
                      Failure
      to deliver the weekly report comparing on a line item basis budgeted
      amounts, as itemized in the Budget, to actual amounts
      disbursed;·
                      Failure
      to maintain the $2,000,000 cash floor, measured as of the close of
      business each Friday and included in the financial reports required
      herein, subject to a cure period of five (5) business
  days;·
                      The
      Debtor’s actual weekly disbursements, on a line item basis, are more than
      ten percent (10%) in excess of the budgeted amounts, as itemized in the
      Budget, excluding input commodities such as corn, natural gas, electricity
      and other chemicals used for the production of ethanol;·
                      Debtor
      shall not contract to purchase input commodities such as corn, natural
      gas, electricity and other chemicals used for the production of ethanol
      for prices 10% or more above fair market prices without the consent of the
      Prepetition Lenders. Consent shall not be unreasonably
      withheld;




6




·
                      Failure
      to deliver any other reports required under the Cash Collateral
      Documents;·
                      The
      Debtor rejects any long term ethanol or DDG marketing agreement, and fails
      to replace such agreement with a similar agreement acceptable to the Cash
      Collateral Lender;·
                      On
      or before November 30, 2009, a Final Order acceptable to the Cash
      Collateral Lender has not been entered;·
                      The
      appointment of a trustee or an examiner with expanded powers in the
      Debtor’s Chapter 11 Case;·
                      The
      Debtor seeks an order dismissing the Debtor’s Chapter 11 Case without the
      consent of the Cash Collateral Lender prior to the indefeasible payment in
      full in cash of all obligations and indebtedness owing to the Prepetition
      Lenders;·
                      The
      Debtor’s Chapter 11 Case is dismissed or converted to a case under Chapter
      7 of the Bankruptcy Code; and·
                      Such
      other Events of Default as are set forth in the Interim Order, the Final
      Order or the other Cash Collateral Documents.Remedies:
                      
                      Upon
      the occurrence of an Event of Default, as defined in the InterimOrder, the Final Order,
      the Cash Collateral Stipulation or the other Cash Collateral
      Documents:·
                      The
      Cash Collateral Lender shall be entitled to exercise all of the remedies
      set forth in the Interim Order, the Final Order, Cash Collateral
      Stipulation and the other Cash Collateral Documents;·
                      Immediately
      upon written notice from the Cash Collateral Lender, the Debtor shall no
      longer be authorized to use Cash Collateral; and·
                      The
      Prepetition Lenders, or either of them individually, shall be authorized
      to file a motion seeking relief from the automatic stay and/or any and all
      other remedies permitted under the Bankruptcy Code.Financial
      Affairs:
                      
                      The
      Cash Collateral Lender shall be authorized to discuss the Debtor’s
      financial affairs with any potential investor identified to the Cash
      Collateral Lender in writing by the Debtor, provided, however, the Cash
      Collateral Lender shall not attempt to negotiate a sale of the Plant prior
      to the filing of the Debtor’s motion to sell the plant pursuant to the
      Final Order.Limited
      Carve-Out
                      
                      The
      Cash Collateral Lender’s Postpetition Security Interest shall be subject
      to payment of the Limited Carve-Out not to exceed $75,000 (the “Limited Carve-Out”). The
      Limited Carve-Out may only be used for the payment of the allowed fees and
      expenses of the U.S. Trustee’s office and professionals retained pursuant
      to Bankruptcy Code § 327 or 1103(a) by the Debtor or any statutory
      committee appointed in this Case (collectively “Professionals”).




7




Prior
      to the Carve-Out Date, to the extent detailed in the Budget and subject to
      the entry of an appropriate order of the Bankruptcy Court, the Debtor
      shall be entitled to use the Cash Collateral to pay the allowed fees and
      expenses of Professionals, except to the extent such fees and expenses are
      incurred in prosecuting claims against the Prepetition Lenders or any in
      seeking to invalidate, challenge, dispute, avoid, subordinate, hinder,
      delay or otherwise attempt to prevent the enforcement by the Prepetition
      Lenders of its claims or liens or realization upon the
      Collateral.The
      Limited Carve-Out shall not be reduced by the amount of allowed fees and
      expenses accrued, incurred, awarded or paid to Professionals prior to the
      occurrence of the Carve-Out Date.On
      the date earlier of (i) the Debtor’s receipt of written notice of an Event
      of Default from the Cash Collateral Lender withdrawing the authorization
      to use the Cash Collateral or (ii) within ten days of the Cash Collateral
      Maturity Date if no acceptable Plan has been filed and no sales motion has
      been filed (the “Carve-Out Date”), any
      amounts subsequently paid to Professionals by any means will reduce the
      Limited-Carve Out on a dollar-for-dollar basis.Expenses:
              
              The
      claims of the Prepetition Lenders shall include the reasonable prepetition
      and postpetition costs and expenses of the Prepetition Lenders, including,
      without limitation, all legal fees, consultant fees, appraisal fees,
      financial advisor fees, and other similar fees, and all such fees and
      expenses incurred in connection with the pre-petition negotiations with
      Debtor, the negotiation and preparation of the Cash Collateral Documents
      and in the handling of all matters in this bankruptcy proceeding and any
      subsequent Chapter 11 or Chapter 7 proceedings, including, without
      limitation, the attorneys’ fees in any way arising from or in connection
      with any action taken by the Prepetition Lenders to monitor, advise,
      enforce or collect the Prepetition Obligations, or any other document or
      agreement arising from or relating to the relationship between Debtor and
      the Prepetition Lenders.The
      Debtor shall reimburse the Prepetition Lenders for all such reasonable
      pre- and postpetition costs and expenses described above to the extent
      allowed in the Budget.




If not
acted on, these terms will expire on October 23, 2009, at 5:00 p.m. (CST).
Please return a signed copy of this letter to evidence your acceptance of the
terms and conditions contained in this Term Sheet.
 
 Sincerely,
 
 AGSTAR
FINANCIAL SERVICES, PCA,
 
 /s/
      Ron MonsonBy:
                          Ron
      MonsonIts:
                          VP
  8
  SIGNATURE
PAGE TO
 TERM
SHEET
 FOR
 THE USE
OF CASH COLLATERAL AND ADEQUATE PROTECTION
 BY
 OTTER
TAIL AG ENTERPRISES, LLC,
 AS DEBTOR
IN POSSESSION,
 IN ITS
PROPOSED BANKRUPTCY CASE IN THE
 UNITED
STATES BANKRUPTCY COURT, DISTRICT OF MINNESOTA
 
 This Term
Sheet is accepted this 21st day of October 2009.
 
 DEBTOR:
 
 OTTER
TAIL AG ENTERPRISES, LLC,
 a
Minnesota limited liability company
 
 By
                        /s/
      ANTHONY J. HICKSName:
                        ANTHONY
      J. HICKSTitle:
                        CEO
  9
  EXHIBIT
A
 
 BUDGET
 
 See
attached
  10


Otter
Tail Ag Enterprises, LLC
 Weekly
Cash-flow Statement
 ACTUALS
  Week
      Ending:
                          
                          4-Sep
                          
                          
                          11-Sep
                          
                          
                          18-Sep
                          
                          
                          25-Sep
                          
                          
                          2-Oct
                          
                          
                          9-Oct
                          
                          
                          16-Oct
                          
                          
                          23-Oct
                          
                          
                          30-Oct
                          
                          
                          6-Nov
                          
                          
                          13-Nov
                          
                          
                          20-Nov
                          
                          
                          27-NovWorking
      Days
                          
                          7
                          
                          
                          6
                          
                          
                          7
                          
                          
                          7
                          
                          
                          5
                          
                          
                          7
                          
                          
                          7
                          
                          
                          7
                          
                          
                          7
                          
                          
                          6
                          
                          
                          7
                          
                          
                          7
                          
                          
                          7Opening
      Balance
                          
                          
                          2,493,409
                          
                          
                          
                          2,482,027
                          
                          
                          
                          2,417,157
                          
                          
                          
                          3,001,722
                          
                          
                          
                          3,308,479
                          
                          
                          
                          3,781,074
                          
                          
                          
                          3,552,985
                          
                          
                          
                          4,476,349
                          
                          
                          
                          4,736,368
                          
                          
                          
                          4,614,787
                          
                          
                          
                          3,765,930
                          
                          
                          
                          4,723,557
                          
                          
                          
                          4,769,501Wires/ACH
      inRPMG
                          
                          
                          1,491,654
                          
                          
                          
                          1,258,099
                          
                          
                          
                          2,007,263
                          
                          
                          
                          1,474,239
                          
                          
                          
                          1,455,103
                          
                          
                          
                          1,394,811
                          
                          
                          
                          2,292,964
                          
                          
                          
                          1,825,902
                          
                          
                          
                          1,718,640
                          
                          
                          
                          1,515,933
                          
                          
                          
                          2,490,271
                          
                          
                          
                          1,768,588
                          
                          
                          
                          1,768,588CHS
                          
                          
                          130,831
                          
                          
                          
                          170,919
                          
                          
                          
                          190,052
                          
                          
                          
                          221,411
                          
                          
                          
                          176,144
                          
                          
                          
                          239,073
                          
                          
                          
                          244,027
                          
                          
                          
                          291,283
                          
                          
                          
                          197,839
                          
                          
                          
                          197,839
                          
                          
                          
                          230,812
                          
                          
                          
                          230,812
                          
                          
                          
                          230,812Wet
      Cake
                          
                          
                          10,026
                          
                          
                          
                          19,067
                          
                          
                          
                          20,771
                          
                          
                          
                          9,898
                          
                          
                          
                          17,322
                          
                          
                          
                          11,520
                          
                          
                          
                          10,178
                          
                          
                          
                          12,826
                          
                          
                          
                          27,529
                          
                          
                          
                          29,495
                          
                          
                          
                          34,411
                          
                          
                          
                          34,411
                          
                          
                          
                          34,411Other
      Checks in
                          
                          
                          1,155
                          
                          
                          
                          1,684
                          
                          
                          
                          366
                          
                          
                          
                          75
                          
                          
                          
                          321
                          
                          
                          
                          1,030
                          
                          
                          
                          3,265
                          
                          
                          
                          468Sub
      Total
                          
                          
                          4,127,075
                          
                          
                          
                          3,931,796
                          
                          
                          
                          4,635,609
                          
                          
                          
                          4,707,346
                          
                          
                          
                          4,957,369
                          
                          
                          
                          5,427,508
                          
                          
                          
                          6,103,420
                          
                          
                          
                          6,606,829
                          
                          
                          
                          6,680,375
                          
                          
                          
                          6,358,053
                          
                          
                          
                          6,521,424
                          
                          
                          
                          6,757,368
                          
                          
                          
                          6,803,312Denaturant
                          
                          
                          32,222
                          
                          
                          
                          
                          
                          
                          
                          63,105
                          
                          
                          
                          32,146
                          
                          
                          
                          32,047
                          
                          
                          
                          48,851
                          
                          
                          
                          30,704
                          
                          
                          
                          65,880
                          
                          
                          
                          39,100
                          
                          
                          
                          41,003
                          
                          
                          
                          47,836
                          
                          
                          
                          47,836
                          
                          
                          
                          47,836Chemicals/ingredients
                          
                          
                          63,820
                          
                          
                          
                          179,186
                          
                          
                          
                          23,694
                          
                          
                          
                          33,919
                          
                          
                          
                          37,079
                          
                          
                          
                          22,631
                          
                          
                          
                          166,187
                          
                          
                          
                          109,822
                          
                          
                          
                          72,695
                          
                          
                          
                          72,695
                          
                          
                          
                          72,695
                          
                          
                          
                          72,695
                          
                          
                          
                          72,695Electricity
                          
                          
                          
                          
                          
                          
                          147,664
                          
                          
                          
                          
                          
                          
                          
                          100,663
                          
                          
                          
                          
                          
                          
                          
                          300,289
                          
                          
                          
                          
                          
                          
                          
                          92,682
                          
                          
                          
                          
                          
                          
                          
                          100,000
                          
                          
                          
                          
                          
                          
                          
                          100,000Payroll/Benefits
                          
                          
                          1,970
                          
                          
                          
                          100,000
                          
                          
                          
                          13,413
                          
                          
                          
                          56,743
                          
                          
                          
                          55,755
                          
                          
                          
                          9,819
                          
                          
                          
                          55,331
                          
                          
                          
                          19,503
                          
                          
                          
                          
                          
                          
                          
                          90,000
                          
                          
                          
                          
                          
                          
                          
                          90,000Natural
      Gas
                          
                          
                          119,291
                          
                          
                          
                          119,291
                          
                          
                          
                          143,024
                          
                          
                          
                          15,525
                          
                          
                          
                          120,449
                          
                          
                          
                          151,263
                          
                          
                          
                          151,263
                          
                          
                          
                          187,434
                          
                          
                          
                          147,272
                          
                          
                          
                          173,545
                          
                          
                          
                          173,545
                          
                          
                          
                          173,545
                          
                          
                          
                          173,545Corn
      payments
                          
                          
                          1,330,000
                          
                          
                          
                          940,000
                          
                          
                          
                          1,270,000
                          
                          
                          
                          1,130,000
                          
                          
                          
                          885,000
                          
                          
                          
                          1,240,000
                          
                          
                          
                          1,095,000
                          
                          
                          
                          1,250,000
                          
                          
                          
                          1,483,790
                          
                          
                          
                          1,271,820
                          
                          
                          
                          1,483,790
                          
                          
                          
                          1,483,790
                          
                          
                          
                          1,483,790Insurance/Taxes
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          25,393
                          
                          
                          
                          36,283
                          
                          
                          
                          1,440
                          
                          
                          
                          
                          
                          
                          
                          25,393R&M/Supplies
                          
                          
                          84,586
                          
                          
                          
                          19,114
                          
                          
                          
                          43,615
                          
                          
                          
                          21,542
                          
                          
                          
                          1,971
                          
                          
                          
                          16,108
                          
                          
                          
                          45,900
                          
                          
                          
                          53,817
                          
                          
                          
                          15,000
                          
                          
                          
                          15,000
                          
                          
                          
                          15,000
                          
                          
                          
                          15,000
                          
                          
                          
                          15,000Marketing/Fillng
      fees
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          48,112
                          
                          
                          
                          3,500
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          41,432Professional
      fees
                          
                          
                          
                          
                          
                          
                          2,411
                          
                          
                          
                          22,787
                          
                          
                          
                          8,129
                          
                          
                          
                          14,000
                          
                          
                          
                          1,778
                          
                          
                          
                          76,387
                          
                          
                          
                          89,511
                          
                          
                          
                          41,000
                          
                          
                          
                          94,000
                          
                          
                          
                          0
                          
                          
                          
                          0
                          
                          
                          
                          71,000Interest/BB
      paydown
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          174,455
                          
                          
                          
                          653,618
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          174,455Consultant
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          30,000Leases/Rental
                          
                          
                          
                          
                          
                          
                          4,456
                          
                          
                          
                          48,767
                          
                          
                          
                          
                          
                          
                          
                          3,472
                          
                          
                          
                          41,943
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          10,272
                          
                          
                          
                          41,943
                          
                          
                          
                          0
                          
                          
                          
                          0
                          
                          
                          
                          13,272Miscellaneous
                          
                          
                          13,159
                          
                          
                          
                          2,517
                          
                          
                          
                          5,482
                          
                          
                          
                          200
                          
                          
                          
                          1,130
                          
                          
                          
                          5,558
                          
                          
                          
                          4,858
                          
                          
                          
                          1,812
                          
                          
                          
                          8,500
                          
                          
                          
                          5,000
                          
                          
                          
                          5,000
                          
                          
                          
                          5,000
                          
                          
                          
                          5,000Sub
      Total
                          
                          
                          1,645,048
                          
                          
                          
                          1,514,639
                          
                          
                          
                          1,633,887
                          
                          
                          
                          1,398,866
                          
                          
                          
                          1,176,295
                          
                          
                          
                          1,874,523
                          
                          
                          
                          1,627,070
                          
                          
                          
                          1,870,461
                          
                          
                          
                          2,065,588
                          
                          
                          
                          2,592,123
                          
                          
                          
                          1,797,866
                          
                          
                          
                          1,987,866
                          
                          
                          
                          2,098,024End
      Balance
                          
                          
                          2,482,027
                          
                          
                          
                          2,417,157
                          
                          
                          
                          3,001,722
                          
                          
                          
                          3,308,479
                          
                          
                          
                          3,781,074
                          
                          
                          
                          3,552,985
                          
                          
                          
                          4,476,349
                          
                          
                          
                          4,736,368
                          
                          
                          
                          4,614,787
                          
                          
                          
                          3,765,930
                          
                          
                          
                          4,723,557
                          
                          
                          
                          4,769,501
                          
                          
                          
                          4,705,288Weekly
      Cash Position
                          
                          
                          -11,382
                          
                          
                          
                          -64,870
                          
                          
                          
                          584,565
                          
                          
                          
                          306,757
                          
                          
                          
                          472,595
                          
                          
                          
                          -228,089
                          
                          
                          
                          923,364
                          
                          
                          
                          260,019
                          
                          
                          
                          -121,581
                          
                          
                          
                          -848,857
                          
                          
                          
                          957,627
                          
                          
                          
                          45,944
                          
                          
                          
                          -64,214Average
      $/bu
                          
                          $
                          3.34
                          
                          
                          $
                          2.90
                          
                          
                          $
                          3.08
                          
                          
                          $
                          2.86
                          
                          
                          $
                          3.28
                          
                          
                          $
                          3.31
                          
                          
                          $
                          3.53
                          
                          
                          $
                          3.85
                          
                          
                          $
                          3.85
                          
                          
                          $
                          3.85
                          
                          
                          $
                          3.85
                          
                          
                          $
                          3.85
                          
                          
                          $
                          3.85Total
      Bushels
                          
                          
                          398,442
                          
                          
                          
                          324,013
                          
                          
                          
                          412,537
                          
                          
                          
                          394,763
                          
                          
                          
                          269,748
                          
                          
                          
                          374,599
                          
                          
                          
                          310,105
                          
                          
                          
                          385,000
                          
                          
                          
                          385,000
                          
                          
                          
                          330,000
                          
                          
                          
                          385,000
                          
                          
                          
                          385,000
                          
                          
                          
                          385,000Gallons
      per bushel
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79
                          
                          
                          
                          2.79Number
      of Etoh gallons
                          
                          
                          1,111,653
                          
                          
                          
                          903,996
                          
                          
                          
                          1,150,978
                          
                          
                          
                          1,101,389
                          
                          
                          
                          752,597
                          
                          
                          
                          1,045,131
                          
                          
                          
                          865,192
                          
                          
                          
                          1,074,150
                          
                          
                          
                          1,074,150
                          
                          
                          
                          920,700
                          
                          
                          
                          1,074,150
                          
                          
                          
                          1,074,150
                          
                          
                          
                          1,074,150Ethanol
      price per gallon
                          
                          $
                          1.57
                          
                          
                          $
                          1.57
                          
                          
                          $
                          1.57
                          
                          
                          $
                          1.57
                          
                          
                          $
                          1.75
                          
                          
                          $
                          1.75
                          
                          
                          $
                          1.75
                          
                          
                          $
                          1.75
                          
                          
                          $
                          1.75
                          
                          
                          $
                          1.78
                          
                          
                          $
                          1.78
                          
                          
                          $
                          1.78
                          
                          
                          $
                          1.78Advance
      Rate
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          $
                          1.60
                          
                          
                          $
                          1.60
                          
                          
                          $
                          1.60
                          
                          
                          $
                          1.60
                          
                          
                          $
                          1.60
                          
                          
                          $
                          1.65
                          
                          
                          $
                          1.65
                          
                          
                          $
                          1.65
                          
                          
                          $
                          1.65RPMG
      Proj/CBOT
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          $
                          1.87
                          
                          
                          $
                          1.87
                          
                          
                          $
                          1.87
                          
                          
                          $
                          1.87
                          
                          
                          $
                          1.87
                          
                          
                          $
                          1.90
                          
                          
                          $
                          1.90
                          
                          
                          $
                          1.90
                          
                          
                          $
                          1.90Basis
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )
                          
                          $
                          (0.12
                          )Natural
      gas
                          
                          $
                          4.27
                          
                          
                          $
                          4.27
                          
                          
                          $
                          4.27
                          
                          
                          $
                          4.27
                          
                          
                          $
                          4.49
                          
                          
                          $
                          4.49
                          
                          
                          $
                          4.49
                          
                          
                          $
                          4.49
                          
                          
                          $
                          4.49
                          
                          
                          $
                          5.29
                          
                          
                          $
                          5.29
                          
                          
                          $
                          5.29
                          
                          
                          $
                          5.29Transportation
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51
                          
                          
                          $
                          0.51NYMEX
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          $
                          3.98
                          
                          
                          $
                          3.98
                          
                          
                          $
                          3.98
                          
                          
                          $
                          3.98
                          
                          
                          $
                          3.98
                          
                          
                          $
                          4.78
                          
                          
                          $
                          4.78
                          
                          
                          $
                          4.78
                          
                          
                          $
                          4.78Natural
      Gas (use)
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800
                          
                          
                          
                          32,800DDGS
      (tons)
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          11,553
                          
                          
                          
                          1,678
                          
                          
                          
                          2,331
                          
                          
                          
                          1,930
                          
                          
                          
                          2,396
                          
                          
                          
                          2,396
                          
                          
                          
                          2,053
                          
                          
                          
                          2,396
                          
                          
                          
                          2,396
                          
                          
                          
                          2,396DDGS
      $/ton
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          $
                          70.31
                          
                          
                          $
                          70.30
                          
                          
                          $
                          70.93
                          
                          
                          $
                          75.67
                          
                          
                          $
                          82.59
                          
                          
                          $
                          82.59
                          
                          
                          $
                          96.35
                          
                          
                          $
                          96.35
                          
                          
                          $
                          96.35
                          
                          
                          $
                          96.35% of
      Corn
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          60
                          %
                          
                          
                          60
                          %
                          
                          
                          60
                          %
                          
                          
                          60
                          %
                          
                          
                          60
                          %
                          
                          
                          70
                          %
                          
                          
                          70
                          %
                          
                          
                          70
                          %
                          
                          
                          70
                          %Ton of corn
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          $
                          117
                          
                          
                          $
                          118
                          
                          
                          $
                          126
                          
                          
                          $
                          138
                          
                          
                          $
                          138
                          
                          
                          $
                          138
                          
                          
                          $
                          138
                          
                          
                          $
                          138
                          
                          
                          $
                          138WDGS
      $/ton
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          21.27
                          
                          
                          $
                          23.43
                          
                          
                          $
                          23.64
                          
                          
                          $
                          25.22
                          
                          
                          $
                          27.53
                          
                          
                          $
                          27.53
                          
                          
                          $
                          34.41
                          
                          
                          $
                          34.41
                          
                          
                          $
                          34.41
                          
                          
                          $
                          34.41% of
      Corn
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          20
                          %
                          
                          
                          20
                          %
                          
                          
                          20
                          %
                          
                          
                          20
                          %
                          
                          
                          20
                          %
                          
                          
                          25
                          %
                          
                          
                          25
                          %
                          
                          
                          25
                          %
                          
                          
                          25
                          %WDGS
      (tons)
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          3,501
                          
                          
                          
                          714
                          
                          
                          
                          1,000
                          
                          
                          
                          1,000
                          
                          
                          
                          1,000
                          
                          
                          
                          1,000
                          
                          
                          
                          857
                          
                          
                          
                          1,000
                          
                          
                          
                          1,000
                          
                          
                          
                          1,000









Week
      Ending:
                                                                          4-Dec
                                                                          
                                                                          11-Dec
                                                                          
                                                                          18-Dec
                                                                          
                                                                          25-Dec
                                                                          
                                                                          1-Jan
                                                                          
                                                                          8-Jan
                                                                          
                                                                          15-Jan
                                                                          
                                                                          22-Jan
                                                                          
                                                                          29-Jan
                                                                          
                                                                          5-Feb
                                                                          
                                                                          12-Feb
                                                                          
                                                                          19-Feb
                                                                          
                                                                          26-FebWorking
      Days
                                                                          7
                                                                          
                                                                          6
                                                                          
                                                                          7
                                                                          
                                                                          7
                                                                          
                                                                          6
                                                                          
                                                                          7
                                                                          
                                                                          7
                                                                          
                                                                          7
                                                                          
                                                                          6
                                                                          
                                                                          7
                                                                          
                                                                          7
                                                                          
                                                                          7
                                                                          
                                                                          6
                                                                          
                                                                          Total'sOpening
      Balance
                                                                          
                                                                          4,705,288
                                                                          
                                                                          
                                                                          4,518,753
                                                                          
                                                                          
                                                                          4,600,130
                                                                          
                                                                          
                                                                          5,107,648
                                                                          
                                                                          
                                                                          4,967,324
                                                                          
                                                                          
                                                                          4,640,969
                                                                          
                                                                          
                                                                          4,697,463
                                                                          
                                                                          
                                                                          5,098,112
                                                                          
                                                                          
                                                                          5,147,805
                                                                          
                                                                          
                                                                          4,622,885
                                                                          
                                                                          
                                                                          4,609,515
                                                                          
                                                                          
                                                                          4,403,343
                                                                          
                                                                          
                                                                          4,985,616Wires/ACH
      in
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          520,483
                                                                          
                                                                          $
                                                                          520,483.22RPMG
                                                                          
                                                                          1,707,979
                                                                          
                                                                          
                                                                          1,463,982
                                                                          
                                                                          
                                                                          2,261,090
                                                                          
                                                                          
                                                                          1,707,979
                                                                          
                                                                          
                                                                          1,430,768
                                                                          
                                                                          
                                                                          1,669,229
                                                                          
                                                                          
                                                                          2,203,385
                                                                          
                                                                          
                                                                          1,669,229
                                                                          
                                                                          
                                                                          1,430,768
                                                                          
                                                                          
                                                                          1,664,261
                                                                          
                                                                          
                                                                          1,664,261
                                                                          
                                                                          
                                                                          2,302,306
                                                                          
                                                                          
                                                                          1,426,510
                                                                          
                                                                          $
                                                                          45,063,800.82CHS
                                                                          
                                                                          230,812
                                                                          
                                                                          
                                                                          197,839
                                                                          
                                                                          
                                                                          230,812
                                                                          
                                                                          
                                                                          238,118
                                                                          
                                                                          
                                                                          204,101
                                                                          
                                                                          
                                                                          238,118
                                                                          
                                                                          
                                                                          238,118
                                                                          
                                                                          
                                                                          238,118
                                                                          
                                                                          
                                                                          204,101
                                                                          
                                                                          
                                                                          238,118
                                                                          
                                                                          
                                                                          238,118
                                                                          
                                                                          
                                                                          238,118
                                                                          
                                                                          
                                                                          204,101
                                                                          
                                                                          $
                                                                          5,690,446.60Wet
      Cake
                                                                          
                                                                          34,411
                                                                          
                                                                          
                                                                          29,495
                                                                          
                                                                          
                                                                          34,411
                                                                          
                                                                          
                                                                          35,500
                                                                          
                                                                          
                                                                          30,429
                                                                          
                                                                          
                                                                          35,500
                                                                          
                                                                          
                                                                          35,500
                                                                          
                                                                          
                                                                          35,500
                                                                          
                                                                          
                                                                          30,429
                                                                          
                                                                          
                                                                          35,500
                                                                          
                                                                          
                                                                          35,500
                                                                          
                                                                          
                                                                          35,500
                                                                          
                                                                          
                                                                          30,429
                                                                          
                                                                          $
                                                                          709,966.35Other
      Checks in
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          $
                                                                          8,364.69Sub
      Total
                                                                          
                                                                          6,678,489
                                                                          
                                                                          
                                                                          6,210,069
                                                                          
                                                                          
                                                                          7,126,442
                                                                          
                                                                          
                                                                          7,089,246
                                                                          
                                                                          
                                                                          6,632,622
                                                                          
                                                                          
                                                                          6,583,817
                                                                          
                                                                          
                                                                          7,174,466
                                                                          
                                                                          
                                                                          7,040,959
                                                                          
                                                                          
                                                                          6,813,103
                                                                          
                                                                          
                                                                          6,560,765
                                                                          
                                                                          
                                                                          6,547,394
                                                                          
                                                                          
                                                                          6,979,268
                                                                          
                                                                          
                                                                          7,167,139
                                                                          
                                                                          $
                                                                          51,993,061.68Denaturant
                                                                          
                                                                          48,194
                                                                          
                                                                          
                                                                          41,309
                                                                          
                                                                          
                                                                          48,194
                                                                          
                                                                          
                                                                          48,194
                                                                          
                                                                          
                                                                          41,784
                                                                          
                                                                          
                                                                          48,748
                                                                          
                                                                          
                                                                          48,748
                                                                          
                                                                          
                                                                          48,748
                                                                          
                                                                          
                                                                          41,784
                                                                          
                                                                          
                                                                          49,301
                                                                          
                                                                          
                                                                          49,301
                                                                          
                                                                          
                                                                          49,301
                                                                          
                                                                          
                                                                          42,258
                                                                          
                                                                          $
                                                                          1,134,429.98Chemicals/
                                                                            ingredients
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          
                                                                          72,695
                                                                          
                                                                          $
                                                                          1,944,847.63Electricity
                                                                          
                                                                          100,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          100,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          100,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          100,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          100,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          100,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          100,000
                                                                          
                                                                          $
                                                                          1,541,297.60Payroll/Benefits
                                                                          
                                                                          90,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          90,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          90,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          90,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          90,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          90,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          90,000
                                                                          
                                                                          $
                                                                          1,122,533.53Natural
      Gas
                                                                          
                                                                          204,114
                                                                          
                                                                          
                                                                          204,114
                                                                          
                                                                          
                                                                          204,114
                                                                          
                                                                          
                                                                          204,114
                                                                          
                                                                          
                                                                          214,151
                                                                          
                                                                          
                                                                          214,151
                                                                          
                                                                          
                                                                          214,151
                                                                          
                                                                          
                                                                          214,151
                                                                          
                                                                          
                                                                          214,151
                                                                          
                                                                          
                                                                          248,493
                                                                          
                                                                          
                                                                          281,293
                                                                          
                                                                          
                                                                          314,093
                                                                          
                                                                          
                                                                          346,893
                                                                          
                                                                          $
                                                                          4,926,975.94Corn
      payments
                                                                          
                                                                          1,483,790
                                                                          
                                                                          
                                                                          1,271,820
                                                                          
                                                                          
                                                                          1,483,790
                                                                          
                                                                          
                                                                          1,530,760
                                                                          
                                                                          
                                                                          1,312,080
                                                                          
                                                                          
                                                                          1,530,760
                                                                          
                                                                          
                                                                          1,530,760
                                                                          
                                                                          
                                                                          1,530,760
                                                                          
                                                                          
                                                                          1,312,080
                                                                          
                                                                          
                                                                          1,530,760
                                                                          
                                                                          
                                                                          1,530,760
                                                                          
                                                                          
                                                                          1,530,760
                                                                          
                                                                          
                                                                          1,312,080
                                                                          
                                                                          $
                                                                          35,237,940.00Insurance/Taxes
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          $
                                                                          88,508.16R&M/Supplies
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,000
                                                                          
                                                                          
                                                                          15,001
                                                                          
                                                                          
                                                                          15,002
                                                                          
                                                                          
                                                                          15,003
                                                                          
                                                                          
                                                                          15,004
                                                                          
                                                                          $
                                                                          556,663.48Marketing/Fillng
      fees
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          41,432
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          50,639
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          50,639
                                                                          
                                                                          $
                                                                          235,752.21Professional
      fees
                                                                          
                                                                          69,000
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          20,000
                                                                          
                                                                          
                                                                          69,000
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          69,000
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          69,000
                                                                          
                                                                          $
                                                                          717,003.47Interest/BB
      paydown
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          174,455
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          174,455
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          174,455
                                                                          
                                                                          $
                                                                          1,525,891.09Consultant
                                                                          
                                                                          30,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          30,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          30,000
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          
                                                                          $
                                                                          120,000.00Leases/Rental
                                                                          
                                                                          41,943
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          10,272
                                                                          
                                                                          
                                                                          41,943
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          6,800
                                                                          
                                                                          
                                                                          45,415
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          0
                                                                          
                                                                          
                                                                          6,800
                                                                          
                                                                          
                                                                          3,472
                                                                          
                                                                          $
                                                                          320,767.41Miscellaneous
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          
                                                                          5,000
                                                                          
                                                                          $
                                                                          128,215.99Sub
      Total
                                                                          
                                                                          2,159,737
                                                                          
                                                                          
                                                                          1,609,939
                                                                          
                                                                          
                                                                          2,018,794
                                                                          
                                                                          
                                                                          2,121,921
                                                                          
                                                                          
                                                                          1,991,653
                                                                          
                                                                          
                                                                          1,886,354
                                                                          
                                                                          
                                                                          2,076,354
                                                                          
                                                                          
                                                                          1,893,154
                                                                          
                                                                          
                                                                          2,190,218
                                                                          
                                                                          
                                                                          1,951,250
                                                                          
                                                                          
                                                                          2,144,051
                                                                          
                                                                          
                                                                          1,993,652
                                                                          
                                                                          
                                                                          2,281,495
                                                                          
                                                                          $
                                                                          49,600,826.48End
      Balance
                                                                          
                                                                          4,518,753
                                                                          
                                                                          
                                                                          4,600,130
                                                                          
                                                                          
                                                                          5,107,648
                                                                          
                                                                          
                                                                          4,967,324
                                                                          
                                                                          
                                                                          4,640,969
                                                                          
                                                                          
                                                                          4,697,463
                                                                          
                                                                          
                                                                          5,098,112
                                                                          
                                                                          
                                                                          5,147,805
                                                                          
                                                                          
                                                                          4,622,885
                                                                          
                                                                          
                                                                          4,609,515
                                                                          
                                                                          
                                                                          4,403,343
                                                                          
                                                                          
                                                                          4,985,616
                                                                          
                                                                          
                                                                          4,885,644
                                                                          
                                                                          $
                                                                          4,885,644.20Weekly
      Cash
                                                                            Position
                                                                          
                                                                          -186,535
                                                                          
                                                                          
                                                                          81,377
                                                                          
                                                                          
                                                                          507,519
                                                                          
                                                                          
                                                                          -140,324
                                                                          
                                                                          
                                                                          -326,355
                                                                          
                                                                          
                                                                          56,494
                                                                          
                                                                          
                                                                          400,649
                                                                          
                                                                          
                                                                          49,694
                                                                          
                                                                          
                                                                          -524,920
                                                                          
                                                                          
                                                                          -13,370
                                                                          
                                                                          
                                                                          -206,171
                                                                          
                                                                          
                                                                          582,273
                                                                          
                                                                          
                                                                          -99,972Average
      $/bu
                                                                          $
                                                                          3.85
                                                                          
                                                                          $
                                                                          3.85
                                                                          
                                                                          $
                                                                          3.85
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.98
                                                                          
                                                                          $
                                                                          3.70Total
      Bushels
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          330,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          330,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          330,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          385,000
                                                                          
                                                                          
                                                                          330,000
                                                                          
                                                                          
                                                                          9,524,207Gallons
      per bushel
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79
                                                                          
                                                                          
                                                                          2.79Number
      of Etoh gallons
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          920,700
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          920,700
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          920,700
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          1,074,150
                                                                          
                                                                          
                                                                          920,700Ethanol
      price per gallon
                                                                          $
                                                                          1.72
                                                                          
                                                                          $
                                                                          1.72
                                                                          
                                                                          $
                                                                          1.72
                                                                          
                                                                          $
                                                                          1.72
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68
                                                                          
                                                                          $
                                                                          1.68Advance
      Rate
                                                                          $
                                                                          1.59
                                                                          
                                                                          $
                                                                          1.59
                                                                          
                                                                          $
                                                                          1.59
                                                                          
                                                                          $
                                                                          1.59
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55
                                                                          
                                                                          $
                                                                          1.55RPMG
      Proj/CBOT
                                                                          $
                                                                          1.84
                                                                          
                                                                          $
                                                                          1.84
                                                                          
                                                                          $
                                                                          1.84
                                                                          
                                                                          $
                                                                          1.84
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80
                                                                          
                                                                          $
                                                                          1.80Basis
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )
                                                                          $
                                                                          (0.12
                                                                          )Natural
      gas
                                                                          $
                                                                          6.22
                                                                          
                                                                          $
                                                                          6.22
                                                                          
                                                                          $
                                                                          6.22
                                                                          
                                                                          $
                                                                          6.22
                                                                          
                                                                          $
                                                                          6.53
                                                                          
                                                                          $
                                                                          6.53
                                                                          
                                                                          $
                                                                          6.53
                                                                          
                                                                          $
                                                                          6.53
                                                                          
                                                                          $
                                                                          6.53
                                                                          
                                                                          $
                                                                          7.58
                                                                          
                                                                          $
                                                                          8.58
                                                                          
                                                                          $
                                                                          9.58
                                                                          
                                                                          $
                                                                          10.58Transportation
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          0.51
                                                                          
                                                                          $
                                                                          1.51
                                                                          
                                                                          $
                                                                          2.51
                                                                          
                                                                          $
                                                                          3.51
                                                                          
                                                                          $
                                                                          4.51NYMEX
                                                                          $
                                                                          5.71
                                                                          
                                                                          $
                                                                          5.71
                                                                          
                                                                          $
                                                                          5.71
                                                                          
                                                                          $
                                                                          5.71
                                                                          
                                                                          $
                                                                          6.02
                                                                          
                                                                          $
                                                                          6.02
                                                                          
                                                                          $
                                                                          6.02
                                                                          
                                                                          $
                                                                          6.02
                                                                          
                                                                          $
                                                                          6.02
                                                                          
                                                                          $
                                                                          6.07
                                                                          
                                                                          $
                                                                          6.07
                                                                          
                                                                          $
                                                                          6.07
                                                                          
                                                                          $
                                                                          6.07Natural
      Gas (use)
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800
                                                                          
                                                                          
                                                                          32,800DDGS
      (tons)
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,053
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,053
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,053
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,396
                                                                          
                                                                          
                                                                          2,053DDGS
      $/ton
                                                                          $
                                                                          96.35
                                                                          
                                                                          $
                                                                          96.35
                                                                          
                                                                          $
                                                                          96.35
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40
                                                                          
                                                                          $
                                                                          99.40% of
      Corn
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %
                                                                          
                                                                          70
                                                                          %Ton
      of corn
                                                                          $
                                                                          138
                                                                          
                                                                          $
                                                                          138
                                                                          
                                                                          $
                                                                          138
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142
                                                                          
                                                                          $
                                                                          142WDGS
      $/ton
                                                                          $
                                                                          34.41
                                                                          
                                                                          $
                                                                          34.41
                                                                          
                                                                          $
                                                                          34.41
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50
                                                                          
                                                                          $
                                                                          35.50% of
      Corn
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %
                                                                          
                                                                          25
                                                                          %WDGS
      (tons)
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          857
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          857
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          857
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          1,000
                                                                          
                                                                          
                                                                          857









Otter
Tail Ag Enterprises, LLC


Monthly
Cash-flow Statement


September
                                        
                                        
                                        October
                                        
                                        
                                        November
                                        
                                        
                                        December
                                        
                                        
                                        January
                                        
                                        
                                        FebruaryWorking
      Days
                                        
                                        27
                                        
                                        
                                        33
                                        
                                        
                                        27
                                        
                                        
                                        27
                                        
                                        
                                        33
                                        
                                        
                                        27
                                        
                                        
                                        Total'sOpening
      Balance
                                        
                                        
                                        2,493,409
                                        
                                        
                                        
                                        3,308,479
                                        
                                        
                                        
                                        4,614,787
                                        
                                        
                                        
                                        4,705,288
                                        
                                        
                                        
                                        4,967,324
                                        
                                        
                                        
                                        4,622,885Wires/ACH
      in
                                        
                                        
                                        
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        520,483
                                        
                                        
                                        $
                                        520,483.22RPMG
                                        
                                        
                                        6,231,255
                                        
                                        
                                        
                                        8,687,420
                                        
                                        
                                        
                                        7,543,380
                                        
                                        
                                        
                                        7,141,030
                                        
                                        
                                        
                                        8,403,379
                                        
                                        
                                        
                                        7,057,338
                                        
                                        
                                        $
                                        45,063,800.82CHS
                                        
                                        
                                        713,213
                                        
                                        
                                        
                                        1,148,366
                                        
                                        
                                        
                                        890,274
                                        
                                        
                                        
                                        897,580
                                        
                                        
                                        
                                        1,122,557
                                        
                                        
                                        
                                        918,456
                                        
                                        
                                        $
                                        5,690,446.60Wet
      Cake
                                        
                                        
                                        59,762
                                        
                                        
                                        
                                        79,375
                                        
                                        
                                        
                                        132,727
                                        
                                        
                                        
                                        133,816
                                        
                                        
                                        
                                        167,357
                                        
                                        
                                        
                                        136,929
                                        
                                        
                                        $
                                        709,966.35Other
      Checks in
                                        
                                        
                                        3,280
                                        
                                        
                                        
                                        5,085
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        $
                                        8,364.69Sub
      Total
                                        
                                        
                                        9,500,920
                                        
                                        
                                        
                                        13,228,724
                                        
                                        
                                        
                                        13,181,168
                                        
                                        
                                        
                                        12,877,714
                                        
                                        
                                        
                                        14,660,617
                                        
                                        
                                        
                                        13,256,091
                                        
                                        
                                        $
                                        51,993,061.68Denaturant
                                        
                                        
                                        127,473
                                        
                                        
                                        
                                        216,582
                                        
                                        
                                        
                                        184,512
                                        
                                        
                                        
                                        185,892
                                        
                                        
                                        
                                        229,810
                                        
                                        
                                        
                                        190,161
                                        
                                        
                                        $
                                        1,134,429.98Chemicals/ingredients
                                        
                                        
                                        300,619
                                        
                                        
                                        
                                        408,414
                                        
                                        
                                        
                                        290,780
                                        
                                        
                                        
                                        290,780
                                        
                                        
                                        
                                        363,475
                                        
                                        
                                        
                                        290,780
                                        
                                        
                                        $
                                        1,944,847.63Electricity
                                        
                                        
                                        248,327
                                        
                                        
                                        
                                        392,971
                                        
                                        
                                        
                                        200,000
                                        
                                        
                                        
                                        200,000
                                        
                                        
                                        
                                        300,000
                                        
                                        
                                        
                                        200,000
                                        
                                        
                                        $
                                        1,541,297.60Payroll/Benefits
                                        
                                        
                                        172,126
                                        
                                        
                                        
                                        140,408
                                        
                                        
                                        
                                        180,000
                                        
                                        
                                        
                                        180,000
                                        
                                        
                                        
                                        270,000
                                        
                                        
                                        
                                        180,000
                                        
                                        
                                        $
                                        1,122,533.53Natural
      Gas
                                        
                                        
                                        397,131
                                        
                                        
                                        
                                        757,681
                                        
                                        
                                        
                                        694,179
                                        
                                        
                                        
                                        816,458
                                        
                                        
                                        
                                        1,070,756
                                        
                                        
                                        
                                        1,190,771
                                        
                                        
                                        $
                                        4,926,975.94Corn
      payments
                                        
                                        
                                        4,670,000
                                        
                                        
                                        
                                        5,953,790
                                        
                                        
                                        
                                        5,723,190
                                        
                                        
                                        
                                        5,770,160
                                        
                                        
                                        
                                        7,216,440
                                        
                                        
                                        
                                        5,904,360
                                        
                                        
                                        $
                                        35,237,940.00Insurance/Taxes
                                        
                                        
                                        0
                                        
                                        
                                        
                                        88,508
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        $
                                        88,508.16R&M/Supplies
                                        
                                        
                                        168,857
                                        
                                        
                                        
                                        132,796
                                        
                                        
                                        
                                        60,000
                                        
                                        
                                        
                                        60,000
                                        
                                        
                                        
                                        75,000
                                        
                                        
                                        
                                        60,010
                                        
                                        
                                        $
                                        556,663.48Marketing/Filing
      fees
                                        
                                        
                                        0
                                        
                                        
                                        
                                        48,112
                                        
                                        
                                        
                                        44,932
                                        
                                        
                                        
                                        41,432
                                        
                                        
                                        
                                        50,639
                                        
                                        
                                        
                                        50,639
                                        
                                        
                                        $
                                        235,752.21Professional
      fees
                                        
                                        
                                        33,327
                                        
                                        
                                        
                                        222,677
                                        
                                        
                                        
                                        165,000
                                        
                                        
                                        
                                        89,000
                                        
                                        
                                        
                                        138,000
                                        
                                        
                                        
                                        69,000
                                        
                                        
                                        $
                                        717,003.47Interest/BB
      paydown
                                        
                                        
                                        0
                                        
                                        
                                        
                                        174,455
                                        
                                        
                                        
                                        828,073
                                        
                                        
                                        
                                        174,455
                                        
                                        
                                        
                                        174,455
                                        
                                        
                                        
                                        174,455
                                        
                                        
                                        $
                                        1,525,891.09Consultant
                                        
                                        
                                        0
                                        
                                        
                                        
                                        0
                                        
                                        
                                        
                                        30,000
                                        
                                        
                                        
                                        30,000
                                        
                                        
                                        
                                        30,000
                                        
                                        
                                        
                                        30,000
                                        
                                        
                                        $
                                        120,000.00Leases/Rental
                                        
                                        
                                        53,223
                                        
                                        
                                        
                                        55,686
                                        
                                        
                                        
                                        55,215
                                        
                                        
                                        
                                        52,215
                                        
                                        
                                        
                                        94,158
                                        
                                        
                                        
                                        10,272
                                        
                                        
                                        $
                                        320,767.41Miscellaneous
                                        
                                        
                                        21,358
                                        
                                        
                                        
                                        21,858
                                        
                                        
                                        
                                        20,000
                                        
                                        
                                        
                                        20,000
                                        
                                        
                                        
                                        25,000
                                        
                                        
                                        
                                        20,000
                                        
                                        
                                        $
                                        128,215.99Sub
      Total
                                        
                                        
                                        6,192,440
                                        
                                        
                                        
                                        8,613,937
                                        
                                        
                                        
                                        8,475,880
                                        
                                        
                                        
                                        7,910,390
                                        
                                        
                                        
                                        10,037,732
                                        
                                        
                                        
                                        8,370,447
                                        
                                        
                                        $
                                        49,600,826.48End
      Balance
                                        
                                        
                                        3,308,479
                                        
                                        
                                        
                                        4,614,787
                                        
                                        
                                        
                                        4,705,288
                                        
                                        
                                        
                                        4,967,324
                                        
                                        
                                        
                                        4,622,885
                                        
                                        
                                        
                                        4,885,644
                                        
                                        
                                        $
                                        4,885,644.20Monthly
      Cash Position
                                        
                                        
                                        815,070
                                        
                                        
                                        
                                        1,306,308
                                        
                                        
                                        
                                        90,501
                                        
                                        
                                        
                                        262,036
                                        
                                        
                                        
                                        -344,439
                                        
                                        
                                        
                                        262,759Average
      $/bu
                                        
                                        $
                                        3.05
                                        
                                        
                                        $
                                        3.45
                                        
                                        
                                        $
                                        3.85
                                        
                                        
                                        $
                                        3.89
                                        
                                        
                                        $
                                        3.98
                                        
                                        
                                        $
                                        3.98
                                        
                                        
                                        $
                                        3.70Total
      Bushels
                                        
                                        
                                        1,529,755
                                        
                                        
                                        
                                        1,724,452
                                        
                                        
                                        
                                        1,485,000
                                        
                                        
                                        
                                        1,485,000
                                        
                                        
                                        
                                        1,815,000
                                        
                                        
                                        
                                        1,485,000
                                        
                                        
                                        
                                        9,524,207Gallons
      per bushel
                                        
                                        
                                        2.79
                                        
                                        
                                        
                                        2.79
                                        
                                        
                                        
                                        2.79
                                        
                                        
                                        
                                        2.79
                                        
                                        
                                        
                                        2.79
                                        
                                        
                                        
                                        2.79Number
      of Etoh gallons
                                        
                                        
                                        4,268,016
                                        
                                        
                                        
                                        4,811,221
                                        
                                        
                                        
                                        4,143,150
                                        
                                        
                                        
                                        4,143,150
                                        
                                        
                                        
                                        5,063,850
                                        
                                        
                                        
                                        4,143,150Ethanol
      price per gallon
                                        
                                        $
                                        1.57
                                        
                                        
                                        $
                                        1.75
                                        
                                        
                                        $
                                        1.78
                                        
                                        
                                        $
                                        1.72
                                        
                                        
                                        $
                                        1.68
                                        
                                        
                                        $
                                        1.68RPMG
      Proj/CBOT
                                        
                                        
                                        
                                        
                                        
                                        $
                                        1.87
                                        
                                        
                                        $
                                        1.90
                                        
                                        
                                        $
                                        1.84
                                        
                                        
                                        $
                                        1.80
                                        
                                        
                                        $
                                        1.80Basis
                                        
                                        
                                        
                                        
                                        
                                        $
                                        (0.12
                                        )
                                        
                                        $
                                        (0.12
                                        )
                                        
                                        $
                                        (0.12
                                        )
                                        
                                        $
                                        (0.12
                                        )
                                        
                                        $
                                        (0.12
                                        )Natural
      gas
                                        
                                        $
                                        4.40
                                        
                                        
                                        $
                                        4.49
                                        
                                        
                                        $
                                        5.29
                                        
                                        
                                        $
                                        6.22
                                        
                                        
                                        $
                                        6.22
                                        
                                        
                                        $
                                        7.58Transportation
                                        
                                        
                                        
                                        
                                        
                                        $
                                        0.51
                                        
                                        
                                        $
                                        0.51
                                        
                                        
                                        $
                                        0.51
                                        
                                        
                                        $
                                        0.51
                                        
                                        
                                        $
                                        1.51NYMEX
                                        
                                        
                                        
                                        
                                        
                                        $
                                        3.98
                                        
                                        
                                        $
                                        4.78
                                        
                                        
                                        $
                                        5.71
                                        
                                        
                                        $
                                        6.02
                                        
                                        
                                        $
                                        6.07Natural
      Gas (use)
                                        
                                        
                                        -
                                        
                                        
                                        
                                        32,800
                                        
                                        
                                        
                                        32,800
                                        
                                        
                                        
                                        32,800
                                        
                                        
                                        
                                        32,800
                                        
                                        
                                        
                                        32,800DDGS
      (tons)
                                        
                                        
                                        9,518
                                        
                                        
                                        
                                        10,730
                                        
                                        
                                        
                                        9,240
                                        
                                        
                                        
                                        9,240
                                        
                                        
                                        
                                        11,293
                                        
                                        
                                        
                                        9,240DDGS
      $/ton
                                        
                                        $
                                        -
                                        
                                        
                                        $
                                        73.98
                                        
                                        
                                        $
                                        96.35
                                        
                                        
                                        $
                                        97.14
                                        
                                        
                                        $
                                        99.40
                                        
                                        
                                        $
                                        99.40% of
      Corn
                                        
                                        
                                        
                                        
                                        
                                        
                                        60
                                        %
                                        
                                        
                                        70
                                        %
                                        
                                        
                                        70
                                        %
                                        
                                        
                                        70
                                        %
                                        
                                        
                                        70
                                        %Ton
      of corn
                                        
                                        $
                                        109
                                        
                                        
                                        $
                                        123
                                        
                                        
                                        $
                                        138
                                        
                                        
                                        $
                                        139
                                        
                                        
                                        $
                                        142
                                        
                                        
                                        $
                                        142WDGS
      $/ton
                                        
                                        $
                                        -
                                        
                                        
                                        $
                                        24.66
                                        
                                        
                                        $
                                        34.41
                                        
                                        
                                        $
                                        34.69
                                        
                                        
                                        $
                                        35.50
                                        
                                        
                                        $
                                        35.50% of
      Corn
                                        
                                        
                                        
                                        
                                        
                                        
                                        20
                                        %
                                        
                                        
                                        25
                                        %
                                        
                                        
                                        25
                                        %
                                        
                                        
                                        25
                                        %
                                        
                                        
                                        25
                                        %WDGS
      (tons)
                                        
                                        
                                        3,857
                                        
                                        
                                        
                                        4,714
                                        
                                        
                                        
                                        3,857
                                        
                                        
                                        
                                        3,857
                                        
                                        
                                        
                                        4,714
                                        
                                        
                                        
                                        3,857