Document:

<PAGE>

                                                                   EXHIBIT 10.22

                           HEALTH FITNESS CORPORATION
                         2004/2005 EXECUTIVE BONUS PLAN

The Health Fitness Corporation Executive Bonus Plan for 2004 and 2005 is
designed to provide an annual incentive bonus to executive officers based on the
achievement of certain financial objectives, as well as achievement of personal
objectives. The financial objectives are set annually by the Board of Directors.
Payments under the bonus plan that are based on the achievement of financial
objectives include the following performance criteria: revenue, earnings before
interest, taxes, depreciation and amortization, and profit contribution before
corporate overhead expenses.

The Chief Executive Officer and Chief Financial Officer may receive bonuses of
between 17% and 45% of their base salary and other executive officers may
receive between 10% and 37% of their base salary under this bonus plan. The
level of bonus received corresponds with the Company achieving between 93% to
110% or more of budgeted financial objectives. No bonuses are earned on
financial objectives for which the Company achieves less than 93% of the planned
target.<PAGE>

                                                                   EXHIBIT 10.23

                           HEALTH FITNESS CORPORATION
                COMPENSATION ARRANGEMENTS FOR EXECUTIVE OFFICERS
                              FOR FISCAL YEAR 2005

      The Health Fitness Corporation Compensation Committee set the 2005 fiscal
year base salaries and stock option grants for the executive officers and
determined the amount of incentive bonus for each executive officer based on
2004 performance as set forth below. In addition, the executive officers may
participate in our 401(k) plan, employee stock purchase plan and medical and
disability plans, as well as other compensatory plans, contracts and
arrangements which are filed as exhibits to our Form 10-K for the year ended
December 31, 2004.

<TABLE>
<CAPTION>
                                                                                                        STOCK
                                                                 2005 ANNUAL    2004 INCENTIVE    OPTIONS GRANTED
EXECUTIVE OFFICER AND TITLE                                      BASE SALARY         BONUS            IN 2005*
<S>                                                              <C>            <C>               <C>
Jerry V. Noyce                                                   $   250,096    $       73,558        40,000
 Chief Executive Officer and President
Wesley W. Winnekins                                              $   162,000    $       33,000        10,000
 Chief Financial Officer and Treasurer
Jeanne C. Crawford                                               $   136,105    $       13,024         7,500
 Vice President, Human Resources and Secreatary
James A. Narum                                                   $   129,422    $       14,823         7,500
 National Vice President of Account Services-Fitness
   Management
David Hurt                                                       $   122,529    $       19,080         7,500
 National Vice President of Account Services-Fitness
   Management
Katherine Hamlin                                                 $   112,342    $       10,000        15,000
 National Vice President of Account Services-Health Management
Brian Gagne                                                      $   131,890    $       21,456        15,000
 Vice President, Programs and Partnerships
Michael Seethaler                                                $   124,200    $       10,000        15,000
 National Vice President, Business Development
Ralph Colao                                                      $   126,677    $       10,000        15,000
 Vice President, Consulting and Best Practices
</TABLE>

*These stock options were granted during the quarter ended March 31, 2005, and
vest to the extent of 25% annually over a period of four years.exv10w10

 

Exhibit 10.10

Standard Form of Agreement Between

Owner and Design-Builder - Lump Sum

This document has important legal consequences. Consultation with

an attorney is recommended with respect to its completion or modification.

     This AGREEMENT is made as of the 31st day of August in the year of 2004, by and
between the following parties, for services in connection with the Project identified below.

OWNER:

(Name and address)

Granite Falls Energy, LLC

2448 – 540th Street, Suite 1

PO Box 216

Granite Falls, MN 56241

DESIGN-BUILDER:

(Name and address)

Fagen, Inc.

501 W. Highway 212

P. O. Box 159

Granite Falls, MN 56241

PROJECT :

(Include Project name and location

as it will appear in the Contract

Documents)

40 MGY Dry Grind Ethanol Plant

In consideration of the mutual covenants and obligations contained herein, Owner and Design-Builder
agree as set forth herein.

	 	 	 
	 
	DBIA Document No. 525 $ Standard Form of Agreement

	 	Page 1
	Between Owner and Design-Builder C Lump Sum
	 	 
	8 1998 Design-Build Institute of America
	 	 

 

 

Article 1

Scope of Work

1.1 Design-Builder shall perform all design and construction services, and provide all
material, equipment, tools and labor, necessary to complete the Work described in and reasonably
inferable from the Contract Documents.

Article 2

Contract Documents

2.1 The Contract Documents are comprised of the following:

	 	.1  	All written modifications, amendments and change orders to this Agreement
issued in accordance with DBIA Document No. 535, Standard Form of General Conditions of
Contract Between Owner and Design-Builder (1998 Edition) (“General Conditions of
Contract”);
	 
	 	.2  	This Agreement, including all exhibits and attachments, executed by Owner and
Design-Builder, said Exhibits being:

	 	 	 
	

	 	Exhibit A — Performance Guarantee Criteria – (2) Pages;
	

	 	Exhibit B — General Project Scope — (3) Pages;
	

	 	Exhibit C –Owner’s Responsibilities — (6) Pages;
	

	 	Exhibit D – License of
Proprietary Property of ICM, Inc. – (4) Pages;
	

	 	Exhibit E – Start-up
Services to be Provided to Owner (1) Page.
	

	 	Exhibit F - Exclusive
Future Constructions Rights

	 	.3  	Written Supplementary Conditions, consisting of two pages, to the General Conditions
of Contract;
	 
	 	.4  	The General Conditions of Contract;
	 
	 	.5  	Construction Documents prepared and approved in accordance with Section 2.4 of
the General Conditions of Contract;
	 
	 	.6  	Design-Builder’s Deviation List, if any, contained in Design-Builder’s
Proposal, which shall specifically identify any and all deviations from Owner’s Project
Criteria;
	 
	 	.7  	Owner’s Project Criteria;
	 
	 	.8  	Design-Builder’s Proposal, except for the Deviation List, submitted in
response to Owner’s Project Criteria; and
	 
	 	.9  	The following other documents, if any: N/A

	 	 	 
	 
	Page 2

	 	DBIA Document No. 525 $ Standard Form of Agreement
	

	 	Between Owner and Design-Builder C Lump Sum
	

	 	8 1998 Design-Build Institute of America

 

 

Article 3

Interpretation and Intent

3.1 The Contract Documents are intended to permit the parties to complete the Work and all
obligations required by the Contract Documents within the Contract Time(s) for the Contract Price.
The Contract Documents are intended to be complementary and interpreted in harmony so as to avoid
conflict, with words and phrases interpreted in a manner consistent with construction and design
industry standards. In the event of any inconsistency, conflict, or ambiguity between or among the
Contract Documents, the Contract Documents shall take precedence in the order in which they are
listed in Section 2.1 hereof.

3.2 Terms, words and phrases used in the Contract Documents, including this Agreement, shall have
the meanings given them in the Supplementary Conditions and General Conditions of Contract.

3.3 The Contract Documents form the entire agreement between Owner and Design-Builder and by
incorporation herein are as fully binding on the parties as if repeated herein. The Contract
Documents supercede any prior letters of intent between the parties, and such letters of intent are
now null and void. No oral representations or other agreements have been made by the parties
except as specifically stated in the Contract Documents.

Article 4

Ownership of Work Product

4.1 Work Product. All drawings, specifications and other documents and electronic data
furnished by Design-Builder to Owner under this Agreement (“Work Product”) are deemed to be
instruments of service and Design-Builder shall retain the ownership and property interests
therein, including the copyrights thereto.

4.2 Owner’s Limited License Upon Payment in Full. Upon Owner’s payment in full for all Work
performed under the Contract Documents, Design-Builder shall vest in Owner a limited license to use
the Work Product in connection with Owner’s occupancy, repair, remodeling or enlargement of the
Project and Design-Builder shall provide Owner with a copy of the “as built” plans, conditioned on
Owner’s express understanding that its use of the Work Product and its acceptance of the “as built”
plans is at Owner’s sole risk and without liability or legal exposure to Design-Builder or anyone
working by or through Design-Builder, including Design Consultants of any tier (collectively the
“Indemnified Parties”), provided, however, that any performance guarantees and warranties (of
equipment or otherwise) shall remain in effect according to the terms of this Agreement. The
limited license to use the work product shall be limited by and construed according to the terms
contained in the License Agreement between Owner and ICM, Inc., attached hereto and made a part
hereof as Exhibit D.

4.3 Owner’s Limited License Upon Owner’s Termination for Convenience or Design-Builder’s Election
to Terminate. If Owner terminates the Project for its convenience as set forth in Article 8
hereof, or if Design-Builder elects to terminate this Agreement in accordance with Section 11.4 of
the General Conditions of Contract, Design-Builder shall, then upon Owner’s payment in full of the
amounts due Design-Builder under the Contract Documents, vest in Owner a limited license to use the
Work Product to complete the Project and subsequently occupy, repair, remodel or enlarge the
Project, subject to the following:

	 	.1  	Use of the Work Product is at Owner’s sole risk without liability or legal
exposure to any Indemnified Party; provided, however, that any “pass through”
warranties regarding equipment or express warranties regarding equipment provided by
this Agreement shall remain in effect according to their terms; and

	 	 	 
	 
	DBIA Document No. 525 $ Standard Form of Agreement

	 	Page 3
	Between Owner and Design-Builder C Lump Sum
	 	 
	8 1998 Design-Build Institute of America
	 	 

 

 

	 	.2  	If the termination for convenience is by Owner or if Design-Builder elects to
terminate this Agreement in accordance with Section 11.4 of the General Conditions of
Contract, then Owner agrees to pay Design-Builder the additional sum of One Million
Dollars ($1,000,000.00) as compensation for the limited right to use the Work Product
(completed “as is” on the date of termination) in accordance with this Article 4.

     The limited license to use the work product shall be limited by and construed according to the
terms contained in the License Agreement between Owner and ICM, Inc., attached hereto and made a
part hereof as Exhibit D.

4.4 Owner’s Limited License Upon Design-Builder’s Default. If this Agreement is terminated due to
Design-Builder’s default pursuant to Section 11.2 of the General Conditions of Contract and (i) it
is determined that Design-Builder was in default and (ii) Owner has fully satisfied all of its
obligations under the Contract Documents through the time of Design-Builder’s default, then
Design-Builder shall grant Owner a limited license to use the Work Product in connection with
Owner’s completion and occupancy, repair, remodeling, or enlargement of the Project. This limited
license is conditioned on Owner’s express understanding that its use of the Work Product is at
Owner’s sole risk and without liability or legal exposure to any Indemnified Party; provided,
however, that any “pass through” warranties regarding equipment or express warranties regarding
equipment provided by this Agreement shall remain in effect according to their terms. This limited
license would grant Owner the ability to repair, remodel or expand the Project at Owner’s
discretion. The limited license to use the work product shall be limited by and construed according
to the terms contained in the License Agreement between Owner and ICM, Inc., attached hereto and
made a part hereof as Exhibit D.

4.5 Owner’s Indemnification for Use of Work Product. If Owner uses the Work Product under any of
the circumstances identified in this Article 4, Owner shall defend, indemnify and hold harmless the
Indemnified Parties from and against any and all claims, damages, liabilities, losses and expenses,
including attorneys’ fees, arising out of or resulting from the use of the Work Product; provided,
however, that any “pass through” warranties regarding equipment or express warranties regarding
equipment provided by this Agreement shall remain in effect according to their terms.

Article 5

Contract Time

5.1 Date of Commencement. The Work shall commence within five (5) days of Design-Builder’s
receipt of Owner’s written Notice to Proceed (“Date of Commencement”) unless the parties mutually
agree otherwise in writing. The parties agree that a valid Owner’s Notice to Proceed cannot be
given until: 1) Owner has title to the real estate on which the project will be constructed; 2) a
Letter of Commitment for all necessary financing to construct the project is received; 3) the Phase
I and all soil stabilization site work required of Owner, as described in Exhibit “C” is completed;
4) the air permit(s) and/or other applicable local, state or federal permits necessary so that
construction can begin, have been obtained; 5) it appears reasonable that financial close on the
Letter of Commitment will occur within sixty (60) days of the issuance of said Notice to Proceed;
and 6) Owner shall execute a sales tax exemption certificate and provide to Design-Builder.

5.2 Substantial Completion and Final Completion

5.2.1 Substantial Completion of the entire Work shall be achieved no later than Four hundred
twenty-five (425) calendar days after the Date of Commencement.

5.2.2 Interim milestones and/or Substantial Completion of identified portions of the Work shall be
achieved as follows: Owner shall provide the following within 90 days of Design-Builder’s receipt
of Owner’s Notice to Proceed, as described in Section 5.1 of this Agreement:

     •   Owner shall determine its water source and provide Design-Builder an independent analysis of
the water source, and

	 	 	 
	 
	Page 4

	 	DBIA Document No. 525 $ Standard Form of Agreement
	

	 	Between Owner and Design-Builder C Lump Sum
	

	 	8 1998 Design-Build Institute of America

 

 

     •   Owner shall provide the name of its property/all risk insurance carrier and the specific requirements
for fire protection.

5.2.3 Final Completion of the Work or identified portions of the Work shall be achieved as expeditiously as
reasonably practicable.

5.2.4 All of the dates set forth in this Article 5 (“Contract Time(s)”) shall be subject to
adjustment in accordance with the General Conditions of Contract. Specifically, if delays in the
Contract Time occur because of delay in the delivery of materials or equipment that is beyond the
control of Design-Builder, the Contract Time will be adjusted, without penalty to Design-Builder,
pursuant to Sections 8.2.1 and 8.2.2 of the General Conditions of Contract.

5.3 Time is of the Essence. Owner and Design-Builder mutually agree that time is of the essence
with respect to the dates and times set forth in the Contract Documents.

5.4 Early Completion Bonus.

5.4.1 If Substantial Completion is attained within 425 days after the Date of Commencement, Owner
shall pay Design-Builder at the time of Final Payment under Section 7.3 hereof an early
completion bonus of $8,000.00 per day, for each day that Substantial Completion occurred in advance
of said 425 days.

5.4.2 In all events, payment of said bonus, if applicable, at the time of Final Payment is subject
to release of funds by senior lender. If senior lender does not allow release of funds at the time
of Final Payment to pay said early completion bonus in full, any unpaid balance shall be converted
to an unsecured Promissory Note payable by Owner to Design-Builder, accruing interest at ten
percent (10%), as such rate may change from time to time. On each anniversary of the Note, any
unpaid accrued interest shall be converted to principal and shall accrue interest as principal
thereafter. Owner shall pay said Promissory Note as soon as allowed by senior lender; in any
event, the Note, plus accrued interest, shall be paid in full before Owner pays or makes any
distributions to or for the benefit of its owners (shareholders, members, partners, etc.). All
payments shall be applied first to accrued interest and then to principal.

Article 6

Contract Price

6.1 Contract Price. Owner shall pay Design-Builder in accordance with Article 6 of the
General Conditions of Contract the sum of Forty-five million seven hundred forty-nine thousand
seven hundred and 00/100 Dollars ($45,749,700.00) (“Contract Price”), subject to adjustments made
in accordance with the General Conditions of Contract. Unless otherwise provided in the Contract
Documents, the Contract Price is deemed to include all sales, use, consumer and other taxes
mandated by applicable Legal Requirements.

6.2 Markups for Changes. If the Contract Price requires an adjustment due to changes in the Work,
and the cost of such changes is determined under Sections 9.4.1.3 or 9.4.1.4 of the General
Conditions of Contract, the following markups shall be allowed on such changes: The parties agree
that changes shall not occur pursuant to Sections 9.4.1.3 or 9.4.1.4 of the General Conditions of
Contract, but may occur pursuant to the other provisions therein.

Article 7

Procedure for Payment

7.0 Payment at Financial Close. As part of the Contract Price, Owner shall pay Design-Builder
Three Million Dollars ($3,000,000) as soon as allowed by its organizational documents, the Escrow
Agreement and any

	 	 	 
	 
	DBIA Document No. 525 $ Standard Form of Agreement

	 	Page 5
	Between Owner and Design-Builder C Lump Sum
	 	 
	8 1998 Design-Build Institute of America
	 	 

 

 

other relevant agreements or laws (such payment to possibly occur prior to
Financial Close) as a mobilization fee. Provided, however, that said payment, if not made earlier,
shall be paid at Financial Close. Financial Close is defined as Owner executing final loan
documents obtaining all necessary financing to construct the project and funds are available to pay
disbursements. Said Three Million ($3,000,000) Dollar payment shall be subject to the retainage as
provided by Article 7.2.1.

7.1 Progress Payments

7.1.1 Design-Builder shall submit to Owner on the twenty-fifth ( 25th ) day of each
month, beginning with the first month after the Date of Commencement, Design-Builder’s Application
for Payment in accordance with Article 6 of the General Conditions of Contract.

7.1.2 Owner shall make payment within ten (10) days after Owner’s receipt of each properly
submitted and accurate Application for Payment in accordance with Article 6 of the General
Conditions of Contract, but in each case less the total of payments previously made, and less
amounts properly withheld under Section 6.3 of the General Conditions of Contract.

7.2 Retainage on Progress Payments

7.2.1 Owner will retain ten percent ( 10%) of each payment provided, however, that when fifty
percent (50%) of the Work ($22,874,850.00 aggregate payment) has been completed by Design-Builder,
Owner will not retain any additional amounts from Design-Builder’s subsequent payments, unless
there is less than $2,287,485.00 total retainage. Owner will also reasonably consider reducing
retainage for Subcontractors completing their work early in the Project.

7.2.2 Upon Substantial Completion of the entire Work or, if applicable, any portion of the Work,
pursuant to Section 6.6 of the General Conditions of Contract, Owner shall release to
Design-Builder all retained amounts relating, as applicable, to the entire Work or completed
portion of the Work, less an amount equal to the reasonable value of all remaining or incomplete
items of Work as noted in the Certificate of Substantial Completion, provided that such payment
shall only be made if Design-Builder has met the Performance Guarantee Criteria listed in Exhibit
A.

7.3 Final Payment. Design-Builder shall submit its Final Application for Payment to Owner
in accordance with Section 6.7 of the General Conditions of Contract. Owner shall make payment on
Design-Builder’s properly submitted and accurate Final Application for Payment within thirty (30)
days after Owner’s receipt of the Final Application for Payment, provided that Design-Builder has
satisfied the requirements for final payment set forth in Section 6.7.2 of the General Conditions
of Contract and Design-Builder has met the Performance Guarantee Criteria listed in Exhibit A.

7.4 Interest. Payments which are due and unpaid by Owner to Design-Builder, whether progress
payments or final payment, shall bear interest commencing five (5) days after payment is due at the
rate of eighteen percent (18%) per annum.

7.5 Record Keeping and Finance Controls. With respect to changes in the Work performed on a cost
basis by Design-Builder pursuant to the Contract Documents, Design-Builder shall keep full and
detailed accounts and exercise such controls as may be necessary for proper financial management,
using accounting and control systems in accordance with generally accepted accounting principles
and as may be provided in the Contract Documents. During the performance of the Work and for a
period of three (3) years after Final Payment, Owner and Owner’s accountants shall be afforded
access from time to time, upon reasonable notice, to Design-Builder’s records, books,
correspondence, receipts, subcontracts, purchase orders, vouchers, memoranda and other data
relating to changes in the Work performed on a cost basis in accordance with the Contract
Documents, all of which Design-Builder shall preserve for a period of three (3) years after Final
Payment.

	 	 	 
	 
	Page 6

	 	DBIA Document No. 525 $ Standard Form of Agreement
	

	 	Between Owner and Design-Builder C Lump Sum
	

	 	8 1998 Design-Build Institute of America

 

 

Article 8

Termination for Convenience

8.1 Upon ten (10) days’ written notice to Design-Builder, Owner may, for its convenience and
without cause, elect to terminate this Agreement. In such event, Owner shall pay Design-Builder
for the following:

	 	.1  	All Work executed, and for proven loss, cost or expense in connection with the
Work;
	 
	 	.2  	The reasonable costs and expenses attributable to such termination, including
demobilization costs and amounts due in settlement of terminated contracts with
Subcontractors and Design Consultants; and
	 
	 	.3  	Overhead and profit margin in the amount of fifteen percent ( 15 %) on the sum
of items .1 and .2 above, except that overhead and profit shall not be due regarding
amounts due in settlement of terminated contracts with subcontractors and design
consultants.

8.2 In addition to the amounts set forth in Section 8.1 above, Design-Builder shall be entitled to
receive one of the following as applicable: all retainage withheld by Owner.

8.3 If Owner terminates this Agreement pursuant to Section 8.1 above and proceeds to design and
construct the Project through its employees, agents or third parties, Owner’s rights to use the
Work Product shall be as set forth in Section 4.3 hereof.

Article 9

Representatives of the Parties

9.1 Owner’s Representatives

9.1.1 Owner designates the individual listed below as its Senior Representative (“Owner’s Senior
Representative”), which individual has the authority and responsibility for avoiding and resolving
disputes under Section 10.2.3 of the General Conditions of Contract: (Identify individual’s
name, title, address and telephone numbers)

     TBD

9.1.2 Owner designates the individual listed below as its Owner’s Representative, which
individual has the authority and responsibility set forth in Section 3.4 of the General Conditions
of Contract: (Identify individual’s name, title, address and telephone numbers)

     TBD

9.2 Design-Builder’s Representatives

9.2.1 Design-Builder designates the individual listed below as its Senior Representative
(“Design-Builder’s Senior Representative”), which individual has the authority and responsibility
for avoiding and resolving disputes under Section 10.2.3 of the General Conditions of Contract:
(Identify individual’s name, title, address and telephone numbers)

	 	 	 
	

	 	Roland “Ron” Fagen, CEO and President
	

	 	501 W. Highway 212
	

	 	P.O. Box 159
	

	 	Granite Falls, MN 56241
	

	 	Telephone: (320) 564-3324

	 	 	 
	 
	DBIA Document No. 525 $ Standard Form of Agreement

	 	Page 7
	Between Owner and Design-Builder C Lump Sum
	 	 
	8 1998 Design-Build Institute of America
	 	 

 

 

9.2.2 Design-Builder designates the individual listed below as its Design-Builder’s
Representative, which
individual has the authority and responsibility set forth in Section 2.1.1 of the General
Conditions of Contract: (Identify individual’s name, title, address and telephone numbers)

     TBD

Article 10

Bonds and Insurance

	10.1  	Insurance. Design-Builder shall procure in accordance with Article 5 of the General
Conditions of Contract the following insurance coverage: A certificate of insurance will be
provided prior to starting construction. Policy limits shall be as follows:

	 	 	 	 	 
	Commercial General Liability:
	 	 	 	 
	General Aggregate
	 	$	2,000,000	 
	Products-Comp/Op AGG
	 	$	2,000,000	 
	Personal & Adv Injury
	 	$	1,000,000	 
	Each Occurrence
	 	$	1,000,000	 
	Fire Damage (Any one fire)
	 	$	50,000	 
	Med Exp (Any one person)
	 	$	5,000	 
	 
	 	 	 	 
	Automobile Liability:
	 	 	 	 
	Combined Single Limit
	 	$	1,000,000	 
	 
	 	 	 	 
	Excess Liability – Umbrella Form

	 	 	 	 
	
Each Occurrence
	 	$	20,000,000	 
	Aggregate
	 	$	20,000,000	 
	 
	 	 	 	 
	Workers Compensation and
Employers’ Liability:
	 	 	 	 
	Statutory Limits:
	 	 	 	 
	Each Accident
	 	$	1,000,000	 
	Disease-Policy Limit
	 	$	1,000,000	 
	Disease-Each Employee
	 	$	1,000,000	 

	   	Owner shall obtain a builder’s risk policy naming Owner as the insured, with Design-Builder
as additional insured, in an amount not less than the Contract Price. Owner shall also
obtain Boiler and Machinery Insurance protecting Owner, Design-Builder, Design Consultants,
Subcontracts and Subcontractors. In addition, Owner shall obtain terrorism coverage as
described by the Terrorism Risk Insurance Act of 2002.

Article 11

Other Provisions

	11.1  	Other provisions, if any, are as follows:

	 	•  	Performance Guarantee: The Design-Builder guarantees the Criteria listed in Exhibit
A. If there is a performance shortfall, Design-Builder will pay all design and
construction costs associated

	 	 	 
	 
	Page 8

	 	DBIA Document No. 525 $ Standard Form of Agreement
	

	 	Between Owner and Design-Builder C Lump Sum
	

	 	8 1998 Design-Build Institute of America

 

 

	   	with making the necessary corrections. Design-Builder
retains the right to use its sole discretion in determining the method to remedy any
performance related issues.

	 	•  	Price Guarantee: The Design-Builder guarantees the Contract Price for the Work
delineated by the Contract Documents. Any and all price increases would require, in
addition to Owner’s approval, the approval of Owner’s senior lender.
	 
	 	•  	Winter Construction: Owner shall have no responsibility for any winter construction
related activities including, but not limited to, special material costs, sheltering,
heating, and equipment rental, except that Owner shall pay all the reasonable costs
incurred for frost removal including, but not limited to, equipment costs, equipment
rental costs, and associated labor costs so that winter construction can proceed.
	 
	 	•  	Design-Builder shall obtain or cooperate in obtaining a performance bond if such a
bond is requested by Owner. If the bond is obtained by Design-Builder, Owner shall pay
Design-Builder for the cost of the bond, plus pay Design-Builder a fee of 7.5%, said
fee calculated by multiplying 7.5% on the cost of the bond. If purchased by Owner,
Owner shall pay all costs of obtaining the bond.
	 
	 	•  	Design-Builder warrants that within six (6) months following the date of Substantial
Completion, the atmospheric emissions of the ethanol plant shall meet the requirements
as currently prescribed, as of the date hereof, by the State of Minnesota Pollution
Control Agency. Verification shall be provided by a written report from
Design-Builder.

In executing this Agreement, Design-Builder represents that it has the necessary financial
resources to fulfill its obligations under this Agreement and has the necessary corporate approvals
to execute this Agreement and perform the services described herein. Owner represents that it has
the necessary organizational approvals to execute this Agreement; that Owner is seeking financing
for the project and that Owner agrees to keep Design-Builder informed of Owner’s progress in
obtaining commitments for
and closing on such financing. Owner and Design-Builder agree that this Agreement is subject to
Owner receiving a complete full funding commitment within 180 days of the signing of this
Agreement, and if a full funding commitment is not received within 180 days of the signing of this
Agreement, the terms and conditions of this Agreement terminate.

	 	 	 
	OWNER:	 	DESIGN-BUILDER:
	Granite Falls Energy, LLC

	 	Fagen, Inc.
	 

	 	 
	(Name of Owner)

	 	(Name of Design-Builder)
	 
	 	 
	/s/ Tom Branhan

	 	/s/ Ron Fagen
	 

	 	 
	(Signature)

	 	(Signature)
	 
	 	 
	Tom Branhan

	 	Roland “Ron” Fagen
	 

	 	 
	(Printed Name)

	 	(Printed Name)
	 
	 	 
	CEO/GM

	 	CEO and President
	 

	 	 
	(Title)

	 	(Title)                    
	 
	Date 8-31-04

	 	Date: 8/31/04

	 	 	 
	 
	DBIA Document No. 525 $ Standard Form of Agreement

	 	Page 9
	Between Owner and Design-Builder C Lump Sum
	 	 
	8 1998 Design-Build Institute of America

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]