EXHIBIT
10.48


Loan No. RIA475T02A-HGF


REVOLVING TERM LOAN SUPPLEMENT


THIS SUPPLEMENT
to the Master Loan Agreement dated October 27, 2005, (the “MLA”), is entered
into as of November 7, 2006, between DAKOTA FUELS, INC.,
(“Dakota Fuels”) and HEARTLAND GRAIN FUELS,
L.P., Aberdeen, South Dakota (the “Company”),
and amends and restates the Supplement dated October 27, 2005 and numbered
RIA475T02-HGF.


SECTION 1.  The Revolving Term
Loan Commitment.  On the terms and conditions set forth in the
MLA and this Supplement, CoBank agrees to make loans to the Company during the
period set forth below in an aggregate principal amount not to exceed
$6,750,000.00 at any one time outstanding (the “Commitment”).  Within the limits of the Commitment, the
Company may borrow, repay and reborrow.


SECTION 2.  Purpose.  The
purpose of the Commitment is to refinance the Company’s indebtedness to CoBank,
ACB, under the Revolving Term Loan Supplement dated as of August 26, 2003, and
numbered A475T02B and to provide working capital to the Company.


SECTION 3.  Term.  The
term of the Commitment shall be from the date hereof, up to and including
January 20, 2008, or such later date as CoBank may, in its sole discretion,
authorize in writing.


SECTION 4.  Interest.  The
Company agrees to pay interest on the unpaid balance of the loans in accordance
with one or more of the following interest rate options, as selected by the
Company:


(A)          Agent Base Rate.  At a
rate per annum equal at all times to the rate of interest established by the
Agent from time to time as the CoBank Base Rate, as defined in Section 4(A) of
the corresponding Revolving Term Loan Supplement between the Agent and Dakota
Fuels that funds advances hereunder, plus any applicable interest rate spread
specified in Section 4(A) of such Revolving Term Loan Supplement between the
Agent and Dakota Fuels, including any amendments or replacements thereto.  The CoBank Base Rate will change on the date
established by Agent as the effective date of any change therein and Agent
agrees to notify the Company of any such change.


(B)          Fixed Rate.  At a
fixed rate per annum to be quoted by Agent in its sole discretion in each
instance.  Under this option, rates may
be fixed on such balances and for such periods, as may be agreeable to Agent in
its sole discretion in each instance, provided that (1) the minimum fixed
period shall be 30 days; (2) the minimum amount that may be fixed each
time shall be $100,000.00; and (3) the maximum number of fixes in place at
any one time shall be 5.


The
Company shall select the applicable rate option at the time it requests a loan
hereunder and may, subject to the limitations set forth above, elect to convert
balances bearing interest at the variable rate option to one of the fixed rate
options.  Upon the expiration of any
fixed rate period, interest shall automatically accrue at the variable rate
option unless the amount fixed is repaid or fixed for an additional period in
accordance with the terms hereof. 
Notwithstanding the foregoing, rates may not be fixed for periods
expiring after the maturity date of the loans. 
All elections provided for herein shall be received by 12:00 Noon
Company’s local time.  Interest shall be
calculated on the actual number of days each loan is outstanding on the basis
of a year consisting of 360 days and shall be payable monthly in arrears by the
20th day of
the following month or such other day that Agent shall require in a written
notice to the Company.













SECTION 5.  Promissory Note.  The
Company promises to repay the loans on January 20, 2008.  If any installment due date is not a day on
which Dakota Fuels is open for business, then such payment shall be made on the
next day on which Dakota Fuels is open for business.  In addition to the above, the Company
promises to pay interest on the unpaid principal balance hereof at the times
and in accordance with the provisions set forth in Section 4 hereof.  This note replaces and supersedes, but does
not constitute payment of the indebtedness evidenced by, the promissory note
set forth in the Supplement being amended and restated hereby.


SECTION 6.  Commitment Fee.  In
consideration of the Commitment, the Company agrees to pay Dakota Fuels a
commitment fee on the average daily unused portion of the Commitment at the
rate of 1/2 of 1% per annum (calculated on a360 day basis), payable monthly in
arrears by the 20th day
following each month.  Such fee shall be
payable for each month (or portion thereof) occurring during the original or
any extended term of the Commitment.


IN WITNESS WHEREOF, the parties have caused this Supplement to be executed by their duly
authorized officers as of the date shown above.


	
  DAKOTA FUELS, INC.

  	
   

  	
  HEARTLAND
  GRAIN FUELS, L.P. 

  By: DAKOTA FUELS, INC., 

  General Partner

  
	
   

  	
   

  	
   

  
	
  By: /s/ Bill
  Paulsen

  	
   

  	
  By: /s/ Bill Paulsen

  
	
   

  	
   

  	
   

  
	
  Title: Treasurer

  	
   

  	
  Title: Treasurer

  



 


 



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