Exhibit 10.2
 SECOND AMENDED AND RESTATED THIRD SUPPLEMENT  TO THE AMENDED AND RESTATED MASTER LOAN AGREEMENT  (REVOLVING LINE OF CREDIT LOAN)
 THIS SECOND AMENDED AND RESTATED THIRD SUPPLEMENT TO THE AMENDED AND RESTATED MASTER LOAN AGREEMENT Third Supplement F & M BANK-IOWA, Lender CENTRAL IOWA ENERGY, LLC, Borrower MLA
 RECITALS
 A.
 B.
 C.
  1. Definitions .
 Accounts




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Availability Date
 Borrowing Base
 Borrowing Base Certificate
 Eligible Accounts Receivable
 (a)
    
    That portion of Accounts (other than Internal Revenue Service biodiesel
blender tax credit receivables) unpaid 30 days or more after the invoice date;(b)
    
    That portion of Internal Revenue Service biodiesel blender tax credit
receivables unpaid 60 days or more after the appropriate filing is made with the
Internal Revenue Service;(c)
    
    That portion of Accounts that is disputed or subject to a claim of offset or a
contra account;(d)
    
    That portion of Accounts not yet earned by the final delivery of goods or
rendition of services, as applicable, by any Borrower to the customer;(e)
    
    Accounts owed by any unit of government, whether foreign or domestic except
Incentive Payments will be considered a part of Eligible Accounts as defined in this
Agreement;(f)
    
    Accounts owed by an account debtor located outside the United States;(g)
    
    Accounts owed by an account debtor that is insolvent, the subject of bankruptcy
proceedings or has gone out of business;(h)
    
    Accounts owed by a member, Guarantor, Affiliate, officer or employee of any
Borrower. Notwithstanding the foregoing and subject to all other exclusions listed
in the Eligible Accounts Receivable definition, Accounts owed to Borrower by REG,
Inc. arising out of the sale of biodiesel, glycerin and fatty acids produced by
Borrower at its bio-diesel production facility in Newton, Iowa, and sold to REG,
Inc. pursuant to that certain Management and Operational Services Agreement dated
August 22, 2006, as amended by that certain First Amendment to Management and
Operational Services Agreement dated on or before September 26, 2006 by and between
REG, Inc. and Borrower, will be deemed to be Eligible Accounts;(i)
    
    Accounts not subject to a duly perfected security interest in the Lenders
favor or which are subject to any lien, security interest or claim in favor of any
Person other than the Lender, including, without limitation, any payment or
performance bond;




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(j)
    
    That portion of Accounts that has been restructured, extended, amended or
modified;(k)
    
    That portion of Accounts that constitutes advertising, finance charges,
service charges or sales or excise taxes; and(l)
    
    Accounts, or portions thereof, otherwise deemed ineligible by the Lender, in
its sole discretion, exercised reasonably.
 Eligible Inventory
 (a)
    
    Covered by documents of title, instruments, or chattel paper
when these documents, instruments and paper are not owned and held by the
Borrower or are subject to competing claims, liens or encumbrances.(b)
    
    Intended to be sold outside of the ordinary course of business.(c)
    
    Consigned, sold or leased to others or on consignment or
lease from others or subject to a bailment.(d)
    
    Subject to a competing claim, lien or encumbrance.(e)
    
    Paid for in advance with progress payments or any other sums to
the Borrower in anticipation of the sale and delivery of inventory.(f)
    
    Obsolete or unusable in the ordinary course of business.(g)
    
    Inventory of work in progress.(h)
    
    Inventory that the Lender, in its reasonable discretion,
disqualifies as Eligible Inventory.
 Incentive Payments
 Maximum Rate
 Monthly Payment Date st
 Outstanding Credit
 Outstanding Revolving Advance




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Request for Advance
 Revolving Advance
 Revolving Letters of Credit
 Revolving Letter of Credit Liabilities
 Revolving Line of Credit Loan
 Revolving Line of Credit Commitment
 Revolving Line of Credit Loan Maturity Date
 Revolving Line of Credit Loan Termination Date
  Revolving Line of Credit Note  means the Amended and Restated Revolving
Line of Credit Note as defined in the MLA.
 Unused Commitment Fee
 2. Revolving Line of Credit Commitment . Revolving Line of Credit Loan Revolving Line of Credit Termination Date Revolving Line of Credit Commitment provided,
however, Revolving Line of Credit Loan Maturity Date
 3. Purpose .




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4. Repayment of the Revolving Line of Credit Loan . st st Monthly
 5. Availability . Availability Date
 6. Making the Advances .
 Revolving Advances . Request for Advance
 Requests for Advances Irrevocable .
 Minimum Amounts .
 Unused Commitment Fee . st




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Conditions Precedent to All Advances .
 Completion of Project
 Repayment of Construction Loan
 Representations and Warranties
 No Defaults
 Government Action
 Marketing Agreements
 Intercreditor Agreement
 7. Letters of Credit .
 Commitment to Issue . Revolving Letters of Credit provided, however




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8. Interest Rate . Maximum Rate
 9. Default Interest .
 10. Late Charge .
 11. Changes in Law Rendering Certain LIBOR Rate Loans Unlawful .




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12. Maximum Amount Limitation .
 13. Mandatory Prepayments or Collateralization .




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14. Reporting Requirements .
 15. Security .
 IN WITNESS WHEREOF,
 CENTRAL IOWA ENERGY, LLC
an Iowa limited liability companyBy:
    /s/ James JohnstonName:
    James JohnstonTitle:
    ChairmanF & M BANK-IOWA,a bank chartered under the laws of IowaBy:
    /s/ Daniel J. HassmanName:
    Daniel J. HassmanIts:
    President




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EXHIBIT A  BORROWING BASE CERTIFICATE  Detailed Calculation
 
 1 Accounts Receivable:(biodiesel)
    
    $(glycerin)
    
    $IRS Biodiesel Tax Credit Receivables
    
    $Other
    
    $Other
    
    $Total
    
    $Deduct Ineligible Accounts
    
    $(30 days or more from invoice date)(60 days or more from filing date for Internal
Revenue Service biodiesel tax credit
receivables)Deduct Ineligible Accounts
    
    $(as determined by Bank)Eligible Accounts Receivable
    
    $Multiply by Borrowing Base Factor
    
    
    75.00
    %Accounts Receivable Loan Availability
    
    
    
    
    
    $2 Glycerin (current value)Ending soybean oil Inventory
    
    $Ending Glycerin & other bi-products Inventory
    
    $Total InventoryMultiply by Borrowing Base Factor
    
    
    50.00
    %Inventory Loan Availability
    
    
    
    
    
    $3 Biodiesel Inventories (lower of cost or market)Ending Biodiesel Inventory
    
    $Ending  Inventory
    
    $Other InventoryTotal Inventory
    
    $Multiply by Borrowing Base Factor
    
    
    50.00
    %Inventory Loan Availability
    
    
    
    
    
    $4 Total Borrowing Base (Totals from #1, #2, & #3)
    
    
    
    
    
    $5 Outstanding Loan Balance (as of month end)
    
    $6 Margin (Line 4 minus Line 5)
    
    
    
    
    
    $