Document:

Exhibit 10.5

 

 

PROMISSORY NOTE

 

	
$16,500,000.00
    	
 
    	
Promissory Note Date: September 19, 2014
    
	
Date   of Advance: September 26, 2014 (to be inserted by Lender)
    	
 
    	
 
    

 

FOR VALUE RECEIVED, PRIMORIS SERVICES CORPORATION, a corporation organized under the laws of the State of Delaware and having a principal place of business at 2100 McKinney Avenue, Dallas Texas 75201, JAMES CONSTRUCTION GROUP, L.L.C., a limited liability company organized under the laws of the State of Florida and having a principal place of business at 1100 Industriplex Blvd, Suite 150, Baton Rouge LA 70809, and Q3 CONTRACTING, INC., a corporation organized under the laws of the State of Minnesota and having a principal place of business at 3066 Spruce Street, Little Canada MN 55117 (collectively, “Borrowers” and each individually a “Borrower”) hereby promises to pay to the order of FIFTH THIRD BANK, an Ohio banking corporation, for itself and as agent for any affiliate of Fifth Third Bancorp (together with its successors and assigns, the “Lender”) the principal amount of Sixteen Million Five Hundred Thousand and 00/100 Dollars ($16,500,000.00), with interest at the Interest Rate (as defined below) and all other Obligations on or before October 1, 2019 (“Maturity Date”) pursuant to the Loan Agreement (as defined below).

 

Lender and Borrowers have entered into that certain Master Loan and Security Agreement dated as of September 19, 2014 (the “Loan Agreement”), pursuant to which Lender has agreed to make the Loan to Borrowers.  The Obligations of Borrowers are secured by the Collateral as provided in the Loan Agreement and this Note shall be subject to the terms and conditions of the Loan Agreement.  Capitalized terms used herein and not otherwise defined shall have the meaning attributed thereto in the Loan Agreement.  This Note relates to the Equipment described on Schedule A hereto.

 

Each Borrower agrees that Lender may insert the date(s) of “Advance” (above) after Borrowers execute this Promissory Note as the date(s) on which the proceeds of this Note are disbursed by Lender.

 

As used herein, “Interest Rate” shall mean the percentage per annum equal to two and 9/100 percent (2.09%); provided, however, that (A) such Interest Rate is based on an interest rate swap rate for a term approximating the weighted average life of this Note as quoted in the Bloomberg SWAP Rate report as of the date of this Note and (B) such Interest Rate may be adjusted by Lender based upon a corresponding increase in the interest rate swap rate quoted in such Release as in effect on the date of the Advance.  Lender will provide Borrowers with written notice of any such adjustment. Interest shall be computed on the basis of a year of 360 days consisting of twelve 30-day months, and shall accrue on the outstanding principal amount hereunder from and including the date each Advance is made to but excluding the date the entire principal amount hereunder is paid in full.

 

Lender may charge, and Borrowers agree to pay on the Advance date, a note processing fee in the amount of $250.00.  Lender may deduct the amount of the note processing fee from the proceeds of this Note or debit any deposit account of Borrowers with Lender to collect the note processing fee.

 

Except as otherwise provided in the Loan Agreement, principal and interest due hereunder shall be payable as follows:

 

Principal and interest shall be payable in 60 equal monthly installments, each on the 1st day of each calendar month, of $289,942.15 commencing on the 1st day of November, 2014, with the entire unpaid principal amount hereof, together with all accrued and unpaid interest, charges, fees or other Advances, if any, due on the Maturity Date.  Interest that accrues from the date of each Advance through but not including the above payment commencement date shall be payable in arrears on the first payment date following the date of Advance.

 

©2008 Fifth Third Bancorp

 

 

Borrowers may prepay this Note only (1) pursuant to Section 8 of the Loan Agreement following the occurrence of an Event of Loss; or (2) from and after the first (1st) anniversary of the date the Loan is made hereunder, Borrowers may prepay, in whole but not in part, the principal outstanding hereunder by paying to Lender such outstanding principal, together with all accrued and unpaid interest thereon at the Interest Rate and other Obligations, plus, as liquidated damages for the cost of making funds available to Borrowers hereunder and not as a penalty, a prepayment premium equal to five and 0/100ths percent (5%) of such outstanding principal.

 

The first anniversary date occurs on the date which is twelve (12) months from the date of the Advance.

 

Upon the occurrence of an Event of Default, Lender shall have all the rights and remedies specified in the Loan Agreement.

 

Each Borrower waives presentment for payment, demand, notice of demand, notice of nonpayment or dishonor, protest and notice of protest of this Note, and all other notices in connection with the delivery, acceptance, performance, default or enforcement of the payment of this Note.

 

This Note shall be governed by and construed in accordance with the laws of the State of Ohio.  Any judicial proceeding arising out of or relating to this Note may be brought in any court of competent jurisdiction in Hamilton County, Ohio and each of the parties hereto (i) accepts the nonexclusive jurisdiction of such courts and any related appellate court and agrees to be bound by any judgment rendered by any such court in connection with any such proceeding and (ii) waives any objection it may now or hereafter have as to the venue of any such proceeding brought in such court or that such court is an inconvenient forum.  EACH OF THE BORROWERS AND LENDER HEREBY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING ARISING OUT OF OR IN ANY WAY RELATING TO THIS NOTE.

 

All notices delivered hereunder shall be made and delivered in accordance with the terms of the Loan Agreement.

 

Each Borrower acknowledges and agrees that time is of the essence with respect to its performance under this Note.  Any failure of Lender to require strict performance by Borrowers or any waiver by Lender of any provision herein shall not be construed as a consent or waiver of any provision of this Note.  This Note shall be binding upon, and inure to the benefit of, the parties hereto, their permitted successors and assigns; provided, however that Borrowers may not assign or transfer any of their rights, interest or obligations hereunder without the prior written consent of Lender.

 

Notwithstanding any provision to the contrary in this Note, in no event shall the interest rate charged on this Note exceed the maximum rate of interest permitted under applicable state and/or federal usury law.  Any payment of interest that would be deemed unlawful under applicable law for any reason shall be deemed received on account of, and will automatically be applied to reduce, the principal sum outstanding and any other sums (other than interest) due and payable to Lender under this Note, and the provisions hereof shall be deemed amended to provide for the highest rate of interest permitted under applicable law.

 

Any provision of this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability shall not invalidate or render unenforceable such provision in any other jurisdiction.  Captions are intended for convenience or reference only, and shall not be construed to define, limit or describe the scope or intent of any provisions hereof.

 

{Remainder of page intentionally left blank. Signature page follows.}

 

2

 

IN WITNESS WHEREOF, the Borrowers have executed this Note as of the 19th day of September, 2014.

 

	
 
    	
BORROWERS:
    
	
 
    	
PRIMORIS SERVICES CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Tom Tekulve
    
	
 
    	
Name: 
    	
Tom Tekulve
    
	
 
    	
Title: 
    	
VP Corp Controller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JAMES CONSTRUCTION GROUP, L.L.C.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ A. Theeuwes
    
	
 
    	
Name: 
    	
A. Theeuwes
    
	
 
    	
Title: 
    	
Treasurer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Q3 CONTRACTING, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ A. Theeuwes
    
	
 
    	
Name: 
    	
A. Theeuwes
    
	
 
    	
Title: 
    	
Treasurer
    

 

3

 

SCHEDULE A

TO

PROMISSORY NOTE DATED SEPTEMBER 19, 2014

 

DESCRIPTION OF EQUIPMENT

 

SEE ATTACHED

 

 

Primoris Service Corporation

Summary

As of June 30, 2014

 

	
JCG
    	
 
    	
5,099,319.11
    	
 
    	
5
    	
 
    
	
Q3C
    	
 
    	
9,947,847.22
    	
 
    	
5
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total
    	
 
    	
15,047,166.33
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5   year
    	
 
    	
15,047,166.33
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Loan
    	
 
    	
16,500,000.00
    	
 
    	
 
    	
 
    

 

1

 

JAMES CONSTRUCTION GROUP

 

	
Model
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
In-service
    	
 
    	
Book
    	
 
    	
 
    	
 
    
	
Year
    	
 
    	
Description
    	
 
    	
Serial Number
    	
 
    	
Acct.
    	
 
    	
Date
    	
 
    	
Cost
    	
 
    	
Location
    	
 
    
	
2006
    	
 
    	
WATER TANK WT-4000
    	
 
    	
1M2AL02C36M001515
    	
 
    	
Heavy Equipment
    	
 
    	
01/01/14
    	
 
    	
36,846.48
    	
 
    	
5880 WEST HWY 190, STE   100; BELTON, TX 76513
    	
 
    
	
2006
    	
 
    	
WATER TANK WT-4000
    	
 
    	
1M2AL02C16M001514
    	
 
    	
Heavy Equipment
    	
 
    	
01/01/14
    	
 
    	
36,846.48
    	
 
    	
6130 FM 2218 RICHMOND,   TX 77469
    	
 
    
	
2004
    	
 
    	
PORTABLE CONCRETE BATCH   PLANT
    	
 
    	
MG-7777
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
614,618.09
    	
 
    	
37110 LA HWY 30;   GEISMAR, LA 70734
    	
 
    
	
2014
    	
 
    	
PORTABLE STORAGE BIN
    	
 
    	
1T9SS5619ER719261
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
86,037.38
    	
 
    	
3913 RANGE ROAD TEMPLE,   TX 76502
    	
 
    
	
2014
    	
 
    	
PORTABLE STORAGE BIN
    	
 
    	
1T9SS5610ER719262
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
86,037.38
    	
 
    	
3913 RANGE ROAD TEMPLE,   TX 76502
    	
 
    
	
2013
    	
 
    	
WHELL LOADER 966K
    	
 
    	
TFS00669
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
278,331.83
    	
 
    	
9328 HWY 82 DE KALB, TX   75559
    	
 
    
	
2013
    	
 
    	
MOTOR GRADER 140M W GPS
    	
 
    	
R9M00264
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
301,514.62
    	
 
    	
250 CR 4410 MOUNT   PLEASANT, TX 75455
    	
 
    
	
2012
    	
 
    	
DOUBLE DRUM STEEL WHEEL   ROLLER
    	
 
    	
276226
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
66,198.39
    	
 
    	
6130 FM 2218 RICHMOND,   TX 77469
    	
 
    
	
2014
    	
 
    	
INTEGRATED TOOL CARRIER
    	
 
    	
FER00384
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
276,669.51
    	
 
    	
3617 N. 3RD ST TEMPLE TX   76503
    	
 
    
	
2014
    	
 
    	
BULLDOZER
    	
 
    	
GMK01448
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
357,357.74
    	
 
    	
3617 N. 3RD ST TEMPLE TX   76503
    	
 
    
	
2013
    	
 
    	
EXCAVATOR
    	
 
    	
TFG00885
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
471,344.54
    	
 
    	
5880 WEST HWY 190, STE   100; BELTON, TX 76513
    	
 
    
	
2000
    	
 
    	
CONCRETE PLACER SPREADER   PS2600
    	
 
    	
904900-022
    	
 
    	
Heavy Equipment
    	
 
    	
03/01/14
    	
 
    	
202,350.73
    	
 
    	
21755 I-45 North,   Building #1 SPRING, TX 77388
    	
 
    
	
2013
    	
 
    	
EXCAVATOR 329FL
    	
 
    	
ZCD00156
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
207,393.92
    	
 
    	
9328 HWY 82 DE KALB, TX   75559
    	
 
    
	
2013
    	
 
    	
DOZER D6N LGP
    	
 
    	
PBA00769
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
239,435.28
    	
 
    	
9328 HWY 82 DE KALB, TX   75559
    	
 
    
	
2013
    	
 
    	
DOZER D6N LGP
    	
 
    	
PBA00564
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
217,664.88
    	
 
    	
9328 HWY 82 DE KALB, TX   75559
    	
 
    
	
2013
    	
 
    	
DOZER D6N LGP
    	
 
    	
PBA00530
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
217,911.76
    	
 
    	
5620 I-55 SOUTH STE . A   BRYAM, MS 39272
    	
 
    
	
2014
    	
 
    	
MOTORGRADER 140M2BRARO
    	
 
    	
M9D01747
    	
 
    	
Heavy Equipment
    	
 
    	
05/01/14
    	
 
    	
342,934.28
    	
 
    	
21755 I-45 North,   Building #1 SPRING, TX 77388
    	
 
    
	
2013
    	
 
    	
70 TON ROUGH TERRAIN   CRANE
    	
 
    	
234465
    	
 
    	
Heavy Equipment
    	
 
    	
05/01/14
    	
 
    	
614,716.83
    	
 
    	
3617 N. 3RD ST TEMPLE TX   76503
    	
 
    
	
2013
    	
 
    	
BACKHOE 420F
    	
 
    	
JWJ01197
    	
 
    	
Heavy Equipment
    	
 
    	
06/01/14
    	
 
    	
85,552.04
    	
 
    	
12762 HWY 84 EAST   JOAQUIN, TX 75954
    	
 
    
	
2013
    	
 
    	
EXCAVATOR 336EL
    	
 
    	
BZY02496
    	
 
    	
Heavy Equipment
    	
 
    	
06/01/14
    	
 
    	
272,323.96
    	
 
    	
3617 N. 3RD ST TEMPLE TX   76503
    	
 
    
	
2014
    	
 
    	
CONVEYOR WITH HOPPER
    	
 
    	
TFC3070001SO384-1
    	
 
    	
Heavy Equipment
    	
 
    	
06/01/14
    	
 
    	
43,616.50
    	
 
    	
37110 LA HWY 30;   GEISMAR, LA 70734
    	
 
    
	
2014
    	
 
    	
CONVEYOR WITH HOPPER
    	
 
    	
TFC3070001SO384-2
    	
 
    	
Heavy Equipment
    	
 
    	
06/01/14
    	
 
    	
43,616.49
    	
 
    	
37110 LA HWY 30;   GEISMAR, LA 70734
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Subtotal   for JCG
    	
 
    	
5,099,319.11
    	
 
    	
 
    	
 
    

 

Q3 Contracting

 

	
Model
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
In-service
    	
 
    	
Book
    	
 
    	
 
    	
 
    
	
Year
    	
 
    	
Description
    	
 
    	
Serial Number
    	
 
    	
Acct.
    	
 
    	
Date
    	
 
    	
Cost
    	
 
    	
Location
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2014
    	
 
    	
Ford F250 4x4 Ext   Cab XL
    	
 
    	
1FT7X2B61EEB68389
    	
 
    	
Heavy Equipment
    	
 
    	
05/22/14
    	
 
    	
35,508.14
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2015
    	
 
    	
F250 4x4 Crew Cab   XL-Long Box
    	
 
    	
1FT7X2B67FEA20961
    	
 
    	
Heavy Equipment
    	
 
    	
06/11/14
    	
 
    	
39,394.19
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
F550 4x4 Crew Cab   9’ F/B
    	
 
    	
1FD0W5HY6DEB78005
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
50,534.74
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G6XEEB68347
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
42,486.72
    	
 
    	
1613 Read Street,   Omaha, NE 68112
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G63EEB68349
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G61EEB68351
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G63EEB68352
    	
 
    	
Heavy Equipment
    	
 
    	
05/29/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G65EEB68353
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 S.Cab   W/Open Body-60”
    	
 
    	
1FDRF3G67EEB68354
    	
 
    	
Heavy Equipment
    	
 
    	
06/02/14
    	
 
    	
40,010.09
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 S.Cab   W/Open Body-60”
    	
 
    	
1FDRF3G69EEB68355
    	
 
    	
Heavy Equipment
    	
 
    	
06/02/14
    	
 
    	
40,010.09
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   9’ F/B
    	
 
    	
1FDRF3G60EEB68356
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
37,506.77
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F550 4x2 RegCb   Contractor Dump
    	
 
    	
1FDUF5GY7EEB68359
    	
 
    	
Heavy Equipment
    	
 
    	
06/18/14
    	
 
    	
48,125.71
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
F550 4x2 Reg 16’   F/B Barricade
    	
 
    	
1FDUF5GY7EEB68362
    	
 
    	
Heavy Equipment
    	
 
    	
06/20/14
    	
 
    	
60,256.46
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
F550 4x2 Reg 16’   F/B Barricade
    	
 
    	
1FDUF5GY9EEB68363
    	
 
    	
Heavy Equipment
    	
 
    	
06/20/14
    	
 
    	
60,256.46
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
F550 4x2 Reg 16’   F/B Barricade
    	
 
    	
1FDUF5GY0EEB68364
    	
 
    	
Heavy Equipment
    	
 
    	
06/20/14
    	
 
    	
60,256.46
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
F550 4x2 Reg 16’   F/B Barricade
    	
 
    	
1FDUF5GY6EEB68367
    	
 
    	
Heavy Equipment
    	
 
    	
06/20/14
    	
 
    	
60,256.46
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
F550 4x2 RegCb   Contractor Dump
    	
 
    	
1FDUF5GY3EEB68374
    	
 
    	
Heavy Equipment
    	
 
    	
06/23/14
    	
 
    	
45,327.86
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G62EEB68357
    	
 
    	
Heavy Equipment
    	
 
    	
05/29/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G64EEB68358
    	
 
    	
Heavy Equipment
    	
 
    	
05/29/14
    	
 
    	
45,795.13
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G6XEEA61458
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G61EEA61459
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G68EEA61460
    	
 
    	
Heavy Equipment
    	
 
    	
04/24/14
    	
 
    	
43,384.14
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    

 

Borrower initials:         ;         ;

 

2

 

	
Model
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
In-service
    	
 
    	
Book
    	
 
    	
 
    	
 
    
	
Year
    	
 
    	
Description
    	
 
    	
Serial Number
    	
 
    	
Acct.
    	
 
    	
Date
    	
 
    	
Cost
    	
 
    	
Location
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2014
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G6XEEA61461
    	
 
    	
Heavy Equipment
    	
 
    	
04/24/14
    	
 
    	
42,873.82
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2013
    	
 
    	
F350 4x2 Reg Cab   Fitting Body
    	
 
    	
1FDRF3G62DEB77977
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
42,486.72
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T370 S/A Contractor   Dump
    	
 
    	
2NKHHM7X3EM411035
    	
 
    	
Heavy Equipment
    	
 
    	
04/24/14
    	
 
    	
95,017.55
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X7EM411037
    	
 
    	
Heavy Equipment
    	
 
    	
04/24/14
    	
 
    	
101,853.73
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7XXFM434698
    	
 
    	
Heavy Equipment
    	
 
    	
05/16/14
    	
 
    	
95,591.53
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X1FM434699
    	
 
    	
Heavy Equipment
    	
 
    	
06/02/14
    	
 
    	
95,835.91
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X9FM434692
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
102,440.72
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X0FM434693
    	
 
    	
Heavy Equipment
    	
 
    	
06/28/14
    	
 
    	
95,349.21
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X2FM434694
    	
 
    	
Heavy Equipment
    	
 
    	
06/07/14
    	
 
    	
102,225.89
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X6FM434696
    	
 
    	
Heavy Equipment
    	
 
    	
06/27/14
    	
 
    	
96,105.95
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X6FM434701
    	
 
    	
Heavy Equipment
    	
 
    	
06/09/14
    	
 
    	
95,835.91
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X8FM434702
    	
 
    	
Heavy Equipment
    	
 
    	
06/09/14
    	
 
    	
95,835.91
    	
 
    	
2351 East County   Line, Des Moines, IA 50320
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7XXFM434703
    	
 
    	
Heavy Equipment
    	
 
    	
05/16/14
    	
 
    	
96,906.54
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X1FM434704
    	
 
    	
Heavy Equipment
    	
 
    	
05/16/14
    	
 
    	
96,906.54
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X5FM434706
    	
 
    	
Heavy Equipment
    	
 
    	
06/02/14
    	
 
    	
95,835.91
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2015
    	
 
    	
T270 S/A Reg Cab   W/Service Bdy
    	
 
    	
2NKHHM6X7FM435065
    	
 
    	
Heavy Equipment
    	
 
    	
06/09/14
    	
 
    	
102,153.78
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T270 S/A Reg Cab   18’ Saw Truck (450067)
    	
 
    	
2NKHHM6X9FM435066
    	
 
    	
Heavy Equipment
    	
 
    	
06/17/14
    	
 
    	
98,340.50
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2015
    	
 
    	
T270 S/A W/Serv   Body-Concrete
    	
 
    	
2NKHHM6X0FM435067
    	
 
    	
Heavy Equipment
    	
 
    	
06/27/14
    	
 
    	
110,198.71
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A   Contractor Dump
    	
 
    	
2NKHHM7X7FM435078
    	
 
    	
Heavy Equipment
    	
 
    	
05/23/14
    	
 
    	
91,685.60
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
T370 S/A A/C Dump   (180106)
    	
 
    	
2NKHHM7X3FM435465
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
102,575.26
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2015
    	
 
    	
T370 S/A A/C Dump   (180107)
    	
 
    	
2NKHHM7X5FM435466
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
102,575.26
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2015
    	
 
    	
T270 S/A Reg Cab   W/Service Bdy
    	
 
    	
2NKHHM6X9FM437075
    	
 
    	
Heavy Equipment
    	
 
    	
06/09/14
    	
 
    	
101,729.71
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
Kenworth T880   Tri/A Dump
    	
 
    	
1NKZLP0X7FJ435068
    	
 
    	
Heavy Equipment
    	
 
    	
06/07/14
    	
 
    	
191,630.17
    	
 
    	
5300 Colorado Blvd,   Commerce City, CO 80022
    	
 
    
	
2015
    	
 
    	
Kenworth T800   Tri/A Dump
    	
 
    	
1NKZXPEX4FJ435073
    	
 
    	
Heavy Equipment
    	
 
    	
06/09/14
    	
 
    	
189,580.68
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
Kenworth T880   Tri/A Dump
    	
 
    	
1NKZXPEX8FJ435075
    	
 
    	
Heavy Equipment
    	
 
    	
06/28/14
    	
 
    	
190,127.92
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Peterbilt 338   Lowboy Tractor
    	
 
    	
1XPWP4EX6ED222821
    	
 
    	
Heavy Equipment
    	
 
    	
04/24/14
    	
 
    	
170,792.31
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Lane LSP 3040 4”   Stringing Trl
    	
 
    	
1L9LS3024EG321137
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
18,503.34
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Lane LSP 3040 4”   Stringing Trl
    	
 
    	
1L9LS3026EG321138
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
18,503.34
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Lane LSP 3040 4”   Stringing Trl
    	
 
    	
1L9LS3028EG321139
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
18,503.34
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Lane LSP 3040 4”   Stringing Trl
    	
 
    	
1L9LS3024EG321140
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
16,691.89
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2014
    	
 
    	
8.5x20 Enclosed -   Hydro Test
    	
 
    	
1UK500J24E1082432
    	
 
    	
Heavy Equipment
    	
 
    	
04/07/14
    	
 
    	
20,784.39
    	
 
    	
954 Jackson Hwy   South, Toledo, WA 98591
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT2022EL161946
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
15,998.91
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT2024EL161947
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
15,998.91
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT2026EL161948
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
15,102.56
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT2028EL161949
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
15,998.91
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT2024EL161950
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
14,792.56
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT2026EL161951
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
14,792.56
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT2028EL161952
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
14,792.56
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trailer
    	
 
    	
4KNFT202XEL161953
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
14,792.56
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2225EL161954
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
21,425.24
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2227EL161955
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
21,425.24
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
T-20DD T/A Equipment   Trlr-AR
    	
 
    	
4KNFT2229EL161956
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
21,323.80
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2220EL161957
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
21,323.80
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2222EL161958
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
21,168.80
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2224EL161959
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
20,411.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2220EL161960
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
20,411.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2222EL161961
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
20,411.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT2224EL161962
    	
 
    	
Heavy Equipment
    	
 
    	
05/20/14
    	
 
    	
20,411.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-40 T/A   Equipment Trailer
    	
 
    	
4KNFT2328EL161963
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
24,593.59
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
T-40 T/A   Equipment Trailer
    	
 
    	
4KNFT232XEL161964
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
22,859.39
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-20DD T/A   Equipment Trlr-AR
    	
 
    	
4KNFT222XEL162372
    	
 
    	
Heavy Equipment
    	
 
    	
06/23/14
    	
 
    	
22,148.88
    	
 
    	
2351 East County   Line, Des Moines, IA 50320
    	
 
    
	
2014
    	
 
    	
T-14DD T/A   Equipment Trailer
    	
 
    	
4KNUT1828EL162380
    	
 
    	
Heavy Equipment
    	
 
    	
05/21/14
    	
 
    	
10,235.86
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    

 

Borrower initials:         ;         ;

 

3

 

	
Model
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
In-service
    	
 
    	
Book
    	
 
    	
 
    	
 
    
	
Year
    	
 
    	
Description
    	
 
    	
Serial Number
    	
 
    	
Acct.
    	
 
    	
Date
    	
 
    	
Cost
    	
 
    	
Location
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2014
    	
 
    	
T-40 T/A   Equipment Trailer
    	
 
    	
4KNFT2326EL162254
    	
 
    	
Heavy Equipment
    	
 
    	
06/21/14
    	
 
    	
23,054.39
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
T-40 T/A   Equipment Trailer
    	
 
    	
4KNFT2029EL162253
    	
 
    	
Heavy Equipment
    	
 
    	
06/23/14
    	
 
    	
20,765.22
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2015
    	
 
    	
Armor Lite Steel   End Dump Trlr
    	
 
    	
56EA65D22FA000111
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
51,985.63
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Trailking TK80HT   Lowboy Trlr
    	
 
    	
1TKA05321EM103130
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
94,189.96
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Cart-A CMK175   Concrete Mix Trl
    	
 
    	
4MFMA1527EM003050
    	
 
    	
Heavy Equipment
    	
 
    	
06/11/14
    	
 
    	
25,204.41
    	
 
    	
4445 Stickney   Ave, Toledo, OH 43612
    	
 
    
	
2014
    	
 
    	
Cart-A CMK175   Concrete Mix Trl
    	
 
    	
4MFMA1529EM003051
    	
 
    	
Heavy Equipment
    	
 
    	
06/11/14
    	
 
    	
24,669.41
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Cart-A CMK175   Concrete Mix Trl
    	
 
    	
4MFMA1520EM003052
    	
 
    	
Heavy Equipment
    	
 
    	
06/11/14
    	
 
    	
24,889.41
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2015
    	
 
    	
FT-14E T/A   Concrete Forms Trlr
    	
 
    	
5FTEE2229F1000704
    	
 
    	
Heavy Equipment
    	
 
    	
06/09/14
    	
 
    	
21,529.84
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
Ingersoll Rand   P185WJD
    	
 
    	
4FVCABAA3DU450868
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
18,363.64
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2013
    	
 
    	
Ingersoll Rand   P185WJD
    	
 
    	
4FVCABAA7DU450873
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
18,363.64
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2013
    	
 
    	
Ingersoll Rand   P185WJD
    	
 
    	
4FVCABAA2DU450876
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
18,363.64
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2013
    	
 
    	
Ingersoll Rand   P185WJD
    	
 
    	
4FVCABAA3DU450871
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
18,130.90
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
P185WJDU Truck   Mounted (110467)
    	
 
    	
462275UCYF06
    	
 
    	
Heavy Equipment
    	
 
    	
05/01/14
    	
 
    	
18,228.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2013
    	
 
    	
P185WJDU Truck   Mounted (110468)
    	
 
    	
462276UCYF06
    	
 
    	
Heavy Equipment
    	
 
    	
05/01/14
    	
 
    	
18,228.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2013
    	
 
    	
Finn T90 T/A Hydro Seeder
    	
 
    	
1F9HS1627DF135669
    	
 
    	
Heavy Equipment
    	
 
    	
04/03/14
    	
 
    	
46,299.50
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Magnum TopCap 305   Breaker
    	
 
    	
H953
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
12,533.31
    	
 
    	
5300 Colorado Blvd,   Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Magnum TopCap 305   Breaker
    	
 
    	
H954
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
12,533.30
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Magnum TopCap 305   Breaker
    	
 
    	
H955
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
12,533.30
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Magnum TopCap 305   Breaker
    	
 
    	
H956
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
12,533.30
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Magnum TopCap 305   Breaker
    	
 
    	
H957
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
12,533.30
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT PR184 Harley   Rake
    	
 
    	
0PRW00926
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
10,763.92
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT H65DS Asphalt   Breaker
    	
 
    	
BYT02646
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
14,202.50
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT H65DS Asphalt   Breaker
    	
 
    	
BYT02951
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
14,202.50
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT H65DS Asphalt   Breaker
    	
 
    	
0BYT03131
    	
 
    	
Heavy Equipment
    	
 
    	
05/24/14
    	
 
    	
14,560.67
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2014
    	
 
    	
CAT H65DS Asphalt   Breaker
    	
 
    	
0BYT03133
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
14,746.55
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT H65DS Asphalt   Breaker
    	
 
    	
0BYT03134
    	
 
    	
Heavy Equipment
    	
 
    	
05/24/14
    	
 
    	
14,698.03
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2014
    	
 
    	
CAT H65ES Asphalt   Breaker
    	
 
    	
3X800434
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
14,202.50
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT H65ES Asphalt   Breaker
    	
 
    	
3X800435
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
14,202.50
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Magnum TopCap 305   Breaker
    	
 
    	
H766
    	
 
    	
Heavy Equipment
    	
 
    	
06/28/14
    	
 
    	
17,492.27
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
Thaler KESP3050   Undergd Puller
    	
 
    	
W09SP5103CET06395
    	
 
    	
Heavy Equipment
    	
 
    	
04/24/14
    	
 
    	
83,030.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 710K   4WD ROPS
    	
 
    	
1T0710KXTEE256781
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
151,092.20
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 410K   4WD ROPS
    	
 
    	
1T0410KXCEE258080
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
103,188.86
    	
 
    	
5300 Colorado Blvd,   Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 410K   4WD ROPS
    	
 
    	
1T0410KXTEE258095
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
103,188.86
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310K   2WD ROPS
    	
 
    	
1T0310KXCEE258687
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
67,287.72
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310SK   4WD ROPS
    	
 
    	
1T0310SKEEE258398
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
77,574.57
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
John Deere 310K   2WD ROPS
    	
 
    	
1T0310KXJEE258775
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
67,287.72
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310K   2WD ROPS
    	
 
    	
1T0310KXKEE258936
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
67,287.72
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310K   2WD ROPS
    	
 
    	
1T0310KXTEE258870
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
67,287.72
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310K   2WD ROPS
    	
 
    	
1T0310KXJEE259036
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
67,287.72
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310K   2WD ROPS
    	
 
    	
1T0310KXPEE259132
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
66,502.13
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
John Deere 310SK   4WD ROPS
    	
 
    	
1T0310SKCEE261276
    	
 
    	
Heavy Equipment
    	
 
    	
06/07/14
    	
 
    	
79,262.07
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310SK   4WD ROPS
    	
 
    	
1T0310SKLEE261279
    	
 
    	
Heavy Equipment
    	
 
    	
06/07/14
    	
 
    	
79,262.07
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310SK   4WD ROPS
    	
 
    	
1T0310SKCEE261285
    	
 
    	
Heavy Equipment
    	
 
    	
05/24/14
    	
 
    	
78,000.89
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
John Deere 310SK   4WD ROPS
    	
 
    	
1T0310SKJEE261292
    	
 
    	
Heavy Equipment
    	
 
    	
06/07/14
    	
 
    	
79,262.06
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310SK   4WD ROPS
    	
 
    	
1T0310SKKEE261551
    	
 
    	
Heavy Equipment
    	
 
    	
06/07/14
    	
 
    	
79,262.06
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
John Deere 310SK   4WD ROPS
    	
 
    	
1T0310SKPEE261287
    	
 
    	
Heavy Equipment
    	
 
    	
05/24/14
    	
 
    	
78,000.90
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT CB14 Roller
    	
 
    	
CATCB14BL47300330
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
30,242.25
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2014
    	
 
    	
Wacker RD12-90   Roller
    	
 
    	
20226902
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
15,557.37
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Wacker RD12-90   Roller
    	
 
    	
20226903
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
15,557.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Wacker RD12-90   Roller
    	
 
    	
20249868
    	
 
    	
Heavy Equipment
    	
 
    	
06/28/14
    	
 
    	
15,623.99
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Wacker RD12-90   Roller
    	
 
    	
20251745
    	
 
    	
Heavy Equipment
    	
 
    	
06/28/14
    	
 
    	
15,533.27
    	
 
    	
5112 North   National Ave, Sioux Falls, SD 57104
    	
 
    
	
2013
    	
 
    	
CAT 236B3
    	
 
    	
CAT0236BVA9H03574
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
16,345.46
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    

 

Borrower initials:         ;         ;

 

4

 

	
Model
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
In-service
    	
 
    	
Book
    	
 
    	
 
    	
 
    
	
Year
    	
 
    	
Description
    	
 
    	
Serial Number
    	
 
    	
Acct.
    	
 
    	
Date
    	
 
    	
Cost
    	
 
    	
Location
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2013
    	
 
    	
CAT 259B3   Multi-Terrian
    	
 
    	
CAT0259BPYYZ05099
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
21,724.81
    	
 
    	
2351 East County   Line, Des Moines, IA 50320
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DPBGZ00492
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
37,633.88
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DABGZ00497
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
37,633.88
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DLBGZ00498
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
37,633.88
    	
 
    	
3066 Spruce Street,   Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DABGZ00502
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
37,633.88
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236CLBGZ00503
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
37,633.88
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 279DW   Multi-Terrian Loader
    	
 
    	
CAT0279DTGTL00832
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
70,580.63
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DEBGZ00519
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
38,379.53
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DHBGZ00518
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
38,379.53
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DCBGZ00523
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
38,379.53
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DJBGZ00625
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
38,379.53
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DABGZ00628
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
38,379.53
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 259D   Multi-Terrain Loader
    	
 
    	
CAT0259DKFTL01498
    	
 
    	
Heavy Equipment
    	
 
    	
06/06/14
    	
 
    	
50,934.88
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 279D   Multi-Terrain Loader
    	
 
    	
CAT0279DCGTL00697
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
66,428.56
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2014
    	
 
    	
CAT 236DR
    	
 
    	
CAT0236DHBGZ00504
    	
 
    	
Heavy Equipment
    	
 
    	
06/06/14
    	
 
    	
37,633.88
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
CAT 236B3
    	
 
    	
CAT0236BKA9H03621
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
19,681.13
    	
 
    	
2351 East County   Line, Des Moines, IA 50320
    	
 
    
	
2013
    	
 
    	
CAT 303.5E CR Mini-X
    	
 
    	
CAT3035EERKY01266
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
17,422.14
    	
 
    	
1613 Read Street,   Omaha, NE 68112
    	
 
    
	
2014
    	
 
    	
CAT 303.5E CR Mini-X
    	
 
    	
CAT3035EVRKY02850
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
41,524.69
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 303.5E CR Mini-X
    	
 
    	
CAT3035EERKY02885
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
41,524.69
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
CAT 303.5E CR Mini-X
    	
 
    	
CAT3035ETRKY02906
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
41,524.70
    	
 
    	
1613 Read Street,   Omaha, NE 68112
    	
 
    
	
2013
    	
 
    	
John Deere 35G   Mini-X
    	
 
    	
1FF035GXKDK270408
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
27,228.00
    	
 
    	
1613 Read Street,   Omaha, NE 68112
    	
 
    
	
2013
    	
 
    	
John Deere 35G   Mini-X
    	
 
    	
1FF035GXJDK270409
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
27,228.00
    	
 
    	
2351 East County   Line, Des Moines, IA 50320
    	
 
    
	
2014
    	
 
    	
CAT 303.5E CR Mini-X
    	
 
    	
CAT3035EHRKY02819
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
42,225.13
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 303.5E CR Mini-X
    	
 
    	
CAT3035ELRKY02849
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
42,225.13
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 303.5E CR Mini-X
    	
 
    	
CAT3035EERKY02899
    	
 
    	
Heavy Equipment
    	
 
    	
04/19/14
    	
 
    	
42,225.13
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
CAT 308E2 CR Mini-X
    	
 
    	
CAT0308EJFJX00600
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
112,320.39
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2009
    	
 
    	
Superior DT80J   Road Broom
    	
 
    	
810964
    	
 
    	
Heavy Equipment
    	
 
    	
05/12/14
    	
 
    	
26,602.13
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2012
    	
 
    	
Superior DT80C   Road Broom
    	
 
    	
812387
    	
 
    	
Heavy Equipment
    	
 
    	
04/07/14
    	
 
    	
51,157.75
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2011
    	
 
    	
Vermeer RTX1250   Trencher
    	
 
    	
1VR6110RXB1001083
    	
 
    	
Heavy Equipment
    	
 
    	
05/01/14
    	
 
    	
96,140.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Vermeer D24x40II   Series 2
    	
 
    	
1VRZ19035E1002542
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
202,855.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Vermeer D24x40II   Series 2
    	
 
    	
1VRZ19034E1002578
    	
 
    	
Heavy Equipment
    	
 
    	
04/01/14
    	
 
    	
250,149.84
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Grundodrill 4X
    	
 
    	
4X1405212
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
90,979.64
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Vermeer D24x40II   Series 2
    	
 
    	
1VRZ19039E1002639
    	
 
    	
Heavy Equipment
    	
 
    	
05/24/14
    	
 
    	
243,988.97
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Vermeer D24x40II   Series 2
    	
 
    	
1VRZ19034E1002628
    	
 
    	
Heavy Equipment
    	
 
    	
05/24/14
    	
 
    	
243,988.97
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Vermeer D36x50II   Series 2
    	
 
    	
1VR4230D5E1003025
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
374,046.22
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Grundodrill 4X
    	
 
    	
4X1416216
    	
 
    	
Heavy Equipment
    	
 
    	
06/28/14
    	
 
    	
95,071.33
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2012
    	
 
    	
McLaughlin V800HD
    	
 
    	
1M9FE1227CS284846   / V8H010813409
    	
 
    	
Heavy Equipment
    	
 
    	
04/25/14
    	
 
    	
53,532.50
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2013
    	
 
    	
McLaughlin V800HD
    	
 
    	
1M9FE122XCS284842   / V8H010213388
    	
 
    	
Heavy Equipment
    	
 
    	
04/25/14
    	
 
    	
59,373.70
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Pacific Tek   PV800DHO
    	
 
    	
4S9BU1420EL228333   / 4181301
    	
 
    	
Heavy Equipment
    	
 
    	
05/19/14
    	
 
    	
51,898.75
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Pacific Tek PV100   (110463)
    	
 
    	
4181302
    	
 
    	
Heavy Equipment
    	
 
    	
05/19/14
    	
 
    	
18,101.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
McLaughlin   V800LEHD
    	
 
    	
1M9FE1225ES284699   / V8H043014517
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
56,213.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
McLaughlin   V800LEHD
    	
 
    	
1M9FE1220ES284707   / V8H043014515
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
56,213.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
McLaughlin   V800LEHD
    	
 
    	
1M9FE1224ES284709   / V8H043014514
    	
 
    	
Heavy Equipment
    	
 
    	
06/12/14
    	
 
    	
56,213.00
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Pacific Tek PV800DHO
    	
 
    	
4S9BU1427EL228331   / 4181304
    	
 
    	
Heavy Equipment
    	
 
    	
05/21/14
    	
 
    	
49,727.66
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
Pacific Tek   PV800DHO
    	
 
    	
4S9BU1429EL228332   / 4181303
    	
 
    	
Heavy Equipment
    	
 
    	
06/07/14
    	
 
    	
54,160.74
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2010
    	
 
    	
Yale GLP050VX   Forklift
    	
 
    	
B875V05081H
    	
 
    	
Heavy Equipment
    	
 
    	
04/02/14
    	
 
    	
17,013.00
    	
 
    	
1613 Read Street,   Omaha, NE 68112
    	
 
    
	
2013
    	
 
    	
Kubota L5240HST   4WD
    	
 
    	
71183
    	
 
    	
Heavy Equipment
    	
 
    	
02/15/14
    	
 
    	
26,670.96
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
VerMac PCMS-1210 Msg Brd/Modem
    	
 
    	
2S9US4124ES132050
    	
 
    	
Heavy Equipment
    	
 
    	
04/22/14
    	
 
    	
15,961.62
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
VerMac PCMS-1210 Msg Brd/Modem
    	
 
    	
2S9US4124DS132273
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
12,319.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
VerMac PCMS-1210 Msg Brd/Modem
    	
 
    	
2S9US1426DS132274
    	
 
    	
Heavy Equipment
    	
 
    	
05/15/14
    	
 
    	
12,319.38
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2013
    	
 
    	
McElroy 412   Trackstar Crawler
    	
 
    	
C55565
    	
 
    	
Heavy Equipment
    	
 
    	
04/07/14
    	
 
    	
45,249.23
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Husqvarna FS4800D
    	
 
    	
001328658001
    	
 
    	
Heavy Equipment
    	
 
    	
03/22/14
    	
 
    	
24,598.15
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    

 

Borrower initials:         ;         ;

 

5

 

	
Model
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
In-service
    	
 
    	
Book
    	
 
    	
 
    	
 
    
	
Year
    	
 
    	
Description
    	
 
    	
Serial Number
    	
 
    	
Acct.
    	
 
    	
Date
    	
 
    	
Cost
    	
 
    	
Location
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2014
    	
 
    	
Husqvarna FS4800D
    	
 
    	
001328659001
    	
 
    	
Heavy Equipment
    	
 
    	
03/22/14
    	
 
    	
24,598.15
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
2014
    	
 
    	
Husqvarna FS4800D
    	
 
    	
001328668002
    	
 
    	
Heavy Equipment
    	
 
    	
03/22/14
    	
 
    	
23,827.34
    	
 
    	
633 Cecelia   Drive, Pewaukee, WI 53072
    	
 
    
	
2014
    	
 
    	
Husqvarna FS4800D
    	
 
    	
001330225001
    	
 
    	
Heavy Equipment
    	
 
    	
04/22/14
    	
 
    	
24,286.43
    	
 
    	
2351 East County   Line, Des Moines, IA 50320
    	
 
    
	
2014
    	
 
    	
DIGITRACK F5   LOCATOR
    	
 
    	
30048910 /   30048837 / CC00006687
    	
 
    	
Heavy Equipment
    	
 
    	
04/26/14
    	
 
    	
20,509.08
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
DIGITRACK F5   LOCATOR
    	
 
    	
30055351 /   30053987 / 00007400 / 30056345
    	
 
    	
Heavy Equipment
    	
 
    	
05/24/14
    	
 
    	
23,888.87
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
DIGITRACK F2   LOCATOR
    	
 
    	
30054596 /   30054528 / 00007609
    	
 
    	
Heavy Equipment
    	
 
    	
05/30/14
    	
 
    	
13,578.09
    	
 
    	
3066 Spruce   Street, Little Canada, MN 55117
    	
 
    
	
2014
    	
 
    	
DIGITRACK F5   LOCATOR
    	
 
    	
30056991 /   30056343 / 00008124
    	
 
    	
Heavy Equipment
    	
 
    	
06/28/14
    	
 
    	
20,772.34
    	
 
    	
5300 Colorado   Blvd, Commerce City, CO 80022
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Subtotal   for Q3
    	
 
    	
9,947,847.22
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Equipment   Total
    	
 
    	
 
    	
 
    	
15,047,166.33
    	
 
    	
 
    	
 
    

 

Borrower initials:         ;         ;

 

6

	
  

  	
  Q3 Contracting
  Fixed Asset Additions UNTITLED EQUIPMENT As of June 30, 2014 MOUNTED
  EQUIPMENT Asset Model In-service Book
  Location Company Number Year Description Serial Number Acct. Date Cost Q3C
  050311 2014 Ford F250 4x4 Ext Cab XL 1FT7X2B61EEB68389 Heavy Equipment
  05/22/14 35,508.14 633 Cecelia Drive, Pewaukee, WI 53072 Q3C 050330 2015 F250
  4x4 Crew Cab XL-Long Box 1FT7X2B67FEA20961 Heavy Equipment 06/11/14 39,394.19
  3066 Spruce Street, Little Canada, MN 55117 Q3C 100422 2013 F550 4x4 Crew Cab
  9’ F/B 1FD0W5HY6DEB78005 Heavy Equipment 06/12/14 50,534.74 3066 Spruce
  Street, Little Canada, MN 55117 Q3C 100424 2014 F350 4x2 Reg Cab Fitting Body
  1FDRF3G6XEEB68347 Heavy Equipment 05/15/14 42,486.72 1613 Read Street, Omaha,
  NE 68112 Q3C 100426 2014 F350 4x2 Reg Cab Fitting Body 1FDRF3G63EEB68349
  Heavy Equipment 05/15/14 42,486.72 3066 Spruce Street, Little Canada, MN
  55117 Q3C 100428 2014 F350 4x2 Reg Cab Fitting Body 1FDRF3G61EEB68351 Heavy
  Equipment 05/15/14 42,486.72 3066 Spruce Street, Little Canada, MN 55117 Q3C
  100429 2014 F350 4x2 Reg Cab Fitting Body 1FDRF3G63EEB68352 Heavy Equipment
  05/29/14 42,486.72 3066 Spruce Street, Little Canada, MN 55117 Q3C 100430
  2014 F350 4x2 Reg Cab Fitting Body 1FDRF3G65EEB68353 Heavy Equipment 05/15/14
  42,486.72 3066 Spruce Street, Little Canada, MN 55117 Q3C 100431 2014 F350
  4x2 S.Cab W/Open Body-60” 1FDRF3G67EEB68354 Heavy Equipment 06/02/14
  40,010.09 3066 Spruce Street, Little Canada, MN 55117 Q3C 100432 2014 F350
  4x2 S.Cab W/Open Body-60” 1FDRF3G69EEB68355 Heavy Equipment 06/02/14
  40,010.09 3066 Spruce Street, Little Canada, MN 55117 Q3C 100433 2014 F350
  4x2 Reg Cab 9’ F/B 1FDRF3G60EEB68356 Heavy Equipment 06/12/14 37,506.77 3066
  Spruce Street, Little Canada, MN 55117 Q3C 100434 2014 F550 4x2 RegCb
  Contractor Dump 1FDUF5GY7EEB68359 Heavy Equipment 06/18/14 48,125.71 5300
  Colorado Blvd, Commerce City, CO 80022 Q3C 100437 2014 F550 4x2 Reg 16’ F/B
  Barricade 1FDUF5GY7EEB68362 Heavy Equipment 06/20/14 60,256.46 5300 Colorado
  Blvd, Commerce City, CO 80022 Q3C 100438 2014 F550 4x2 Reg 16’ F/B Barricade
  1FDUF5GY9EEB68363 Heavy Equipment 06/20/14 60,256.46 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 100439 2014 F550 4x2 Reg 16’ F/B Barricade
  1FDUF5GY0EEB68364 Heavy Equipment 06/20/14 60,256.46 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 100442 2014 F550 4x2 Reg 16’ F/B Barricade
  1FDUF5GY6EEB68367 Heavy Equipment 06/20/14 60,256.46 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 100449 2014 F550 4x2 RegCb Contractor Dump
  1FDUF5GY3EEB68374 Heavy Equipment 06/23/14 45,327.86 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 100462 2014 F350 4x2 Reg Cab Fitting Body
  1FDRF3G62EEB68357 Heavy Equipment 05/29/14 42,486.72 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 100463 2014 F350 4x2 Reg Cab Fitting Body
  1FDRF3G64EEB68358 Heavy Equipment 05/29/14 45,795.13 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 100464 2014 F350 4x2 Reg Cab Fitting Body
  1FDRF3G6XEEA61458 Heavy Equipment 05/15/14 42,486.72 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 100465 2014 F350 4x2 Reg Cab Fitting Body
  1FDRF3G61EEA61459 Heavy Equipment 05/15/14 42,486.72 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 100466 2014 F350 4x2 Reg Cab Fitting Body
  1FDRF3G68EEA61460 Heavy Equipment 04/24/14 43,384.14 5112 North National Ave,
  Sioux Falls, SD 57104 Q3C 100467 2014 F350 4x2 Reg Cab Fitting Body
  1FDRF3G6XEEA61461 Heavy Equipment 04/24/14 42,873.82 5112 North National Ave,
  Sioux Falls, SD 57104 Q3C 100468 2013 F350 4x2 Reg Cab Fitting Body
  1FDRF3G62DEB77977 Heavy Equipment 05/15/14 42,486.72 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 110442 2014 T370 S/A Contractor Dump
  2NKHHM7X3EM411035 Heavy Equipment 04/24/14 95,017.55 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 110443 2014 T370 S/A Contractor Dump 2NKHHM7X7EM411037
  Heavy Equipment 04/24/14 101,853.73 3066 Spruce Street, Little Canada, MN
  55117 Q3C 110444 2015 T370 S/A Contractor Dump 2NKHHM7XXFM434698 Heavy
  Equipment 05/16/14 95,591.53 3066 Spruce Street, Little Canada, MN 55117 Q3C
  110445 2015 T370 S/A Contractor Dump 2NKHHM7X1FM434699 Heavy Equipment
  06/02/14 95,835.91 3066 Spruce Street, Little Canada, MN 55117 Q3C 110447
  2015 T370 S/A Contractor Dump 2NKHHM7X9FM434692 Heavy Equipment 06/12/14
  102,440.72 5300 Colorado Blvd, Commerce City, CO 80022 Q3C 110448 2015 T370
  S/A Contractor Dump 2NKHHM7X0FM434693 Heavy Equipment 06/28/14 95,349.21 3066
  Spruce Street, Little Canada, MN 55117 Q3C 110449 2015 T370 S/A Contractor
  Dump 2NKHHM7X2FM434694 Heavy Equipment 06/07/14 102,225.89 5300 Colorado
  Blvd, Commerce City, CO 80022 Q3C 110451 2015 T370 S/A Contractor Dump
  2NKHHM7X6FM434696 Heavy Equipment 06/27/14 96,105.95 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 110454 2015 T370 S/A Contractor Dump
  2NKHHM7X6FM434701 Heavy Equipment 06/09/14 95,835.91 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 110455 2015 T370 S/A Contractor Dump
  2NKHHM7X8FM434702 Heavy Equipment 06/09/14 95,835.91 2351 East County Line,
  Des Moines, IA 50320 Q3C 110456 2015 T370 S/A Contractor Dump
  2NKHHM7XXFM434703 Heavy Equipment 05/16/14 96,906.54 633 Cecelia Drive,
  Pewaukee, WI 53072 Q3C 110457 2015 T370 S/A Contractor Dump 2NKHHM7X1FM434704
  Heavy Equipment 05/16/14 96,906.54 633 Cecelia Drive, Pewaukee, WI 53072 Q3C
  110459 2015 T370 S/A Contractor Dump 2NKHHM7X5FM434706 Heavy Equipment 06/02/14
  95,835.91 5112 North National Ave, Sioux Falls, SD 57104 Q3C 110462 2015 T270
  S/A Reg Cab W/Service Bdy 2NKHHM6X7FM435065 Heavy Equipment 06/09/14
  102,153.78 3066 Spruce Street, Little Canada, MN 55117 Q3C 110463 2015 T270
  S/A Reg Cab 18’ Saw Truck (450067) 2NKHHM6X9FM435066 Heavy Equipment 06/17/14
  98,340.50 5300 Colorado Blvd, Commerce City, CO 80022 110463 / 450067 Q3C
  110464 2015 T270 S/A W/Serv Body-Concrete 2NKHHM6X0FM435067 Heavy Equipment
  06/27/14 110,198.71 3066 Spruce Street, Little Canada, MN 55117 Q3C 110466
  2015 T370 S/A Contractor Dump 2NKHHM7X7FM435078 Heavy Equipment 05/23/14
  91,685.60 3066 Spruce Street, Little Canada, MN 55117 Q3C 110467 2015 T370
  S/A A/C Dump (180106) 2NKHHM7X3FM435465 Heavy Equipment 06/12/14 102,575.26
  5300 Colorado Blvd, Commerce City, CO 80022 110467 / 180106 Q3C 110468 2015
  T370 S/A A/C Dump (180107) 2NKHHM7X5FM435466 Heavy Equipment 06/12/14
  102,575.26 5300 Colorado Blvd, Commerce City, CO 80022 110468 / 180107 Q3C
  110469 2015 T270 S/A Reg Cab W/Service Bdy 2NKHHM6X9FM437075 Heavy Equipment
  06/09/14 101,729.71 3066 Spruce Street, Little Canada, MN 55117 Q3C 120355
  2015 Kenworth T880 Tri/A Dump 1NKZLP0X7FJ435068 Heavy Equipment 06/07/14
  191,630.17 5300 Colorado Blvd, Commerce City, CO 80022 Q3C 120360 2015 Kenworth
  T800 Tri/A Dump 1NKZXPEX4FJ435073 Heavy Equipment 06/09/14 189,580.68 3066
  Spruce Street, Little Canada, MN 55117 Q3C 120362 2015 Kenworth T880 Tri/A
  Dump 1NKZXPEX8FJ435075 Heavy Equipment 06/28/14 190,127.92 3066 Spruce
  Street, Little Canada, MN 55117 Q3C 120368 2014 Peterbilt 338 Lowboy Tractor
  1XPWP4EX6ED222821 Heavy Equipment 04/24/14 170,792.31 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150526 2014 Lane LSP 3040 4” Stringing Trl
  1L9LS3024EG321137 Heavy Equipment 04/01/14 18,503.34 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150527 2014 Lane LSP 3040 4” Stringing Trl
  1L9LS3026EG321138 Heavy Equipment 04/01/14 18,503.34 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150528 2014 Lane LSP 3040 4” Stringing Trl
  1L9LS3028EG321139 Heavy Equipment 04/01/14 18,503.34 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150529 2014 Lane LSP 3040 4” Stringing Trl
  1L9LS3024EG321140 Heavy Equipment 04/01/14 16,691.89 5112 North National Ave,
  Sioux Falls, SD 57104 Q3C 150537 2014 8.5x20 Enclosed - Hydro Test 1UK500J24E1082432
  Heavy Equipment 04/07/14 20,784.39 954 Jackson Hwy South, Toledo, WA 98591
  Q3C 150553 2014 T-20DD T/A Equipment Trailer 4KNFT2022EL161946 Heavy
  Equipment 05/20/14 15,998.91 5300 Colorado Blvd, Commerce City, CO 80022 Q3C
  150554 2014 T-20DD T/A Equipment Trailer 4KNFT2024EL161947 Heavy Equipment
  05/20/14 15,998.91 5300 Colorado Blvd, Commerce City, CO 80022 Q3C 150555
  2014 T-20DD T/A Equipment Trailer 4KNFT2026EL161948 Heavy Equipment 05/20/14
  15,102.56 5112 North National Ave, Sioux Falls, SD 57104 

  

 

	
  

  	
  Q3C 150556 2014
  T-20DD T/A Equipment Trailer 4KNFT2028EL161949 Heavy Equipment 05/20/14
  15,998.91 5300 Colorado Blvd, Commerce City, CO 80022 Q3C 150557 2014 T-20DD
  T/A Equipment Trailer 4KNFT2024EL161950 Heavy Equipment 05/20/14 14,792.56
  3066 Spruce Street, Little Canada, MN 55117 Q3C 150558 2014 T-20DD T/A
  Equipment Trailer 4KNFT2026EL161951 Heavy Equipment 05/20/14 14,792.56 3066
  Spruce Street, Little Canada, MN 55117 Q3C 150559 2014 T-20DD T/A Equipment
  Trailer 4KNFT2028EL161952 Heavy Equipment 05/20/14 14,792.56 3066 Spruce
  Street, Little Canada, MN 55117 Q3C 150560 2014 T-20DD T/A Equipment Trailer
  4KNFT202XEL161953 Heavy Equipment 05/20/14 14,792.56 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150561 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2225EL161954 Heavy Equipment 05/20/14 21,425.24 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150562 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2227EL161955 Heavy Equipment 05/20/14 21,425.24 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150563 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2229EL161956 Heavy Equipment 05/20/14 21,323.80 633 Cecelia Drive,
  Pewaukee, WI 53072 Q3C 150564 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2220EL161957 Heavy Equipment 05/20/14 21,323.80 633 Cecelia Drive,
  Pewaukee, WI 53072 Q3C 150565 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2222EL161958 Heavy Equipment 05/20/14 21,168.80 5112 North National Ave,
  Sioux Falls, SD 57104 Q3C 150566 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2224EL161959 Heavy Equipment 05/20/14 20,411.38 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150567 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2220EL161960 Heavy Equipment 05/20/14 20,411.38 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150568 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2222EL161961 Heavy Equipment 05/20/14 20,411.38 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150569 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT2224EL161962 Heavy Equipment 05/20/14 20,411.38 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150570 2014 T-40 T/A Equipment Trailer
  4KNFT2328EL161963 Heavy Equipment 05/30/14 24,593.59 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150571 2014 T-40 T/A Equipment Trailer
  4KNFT232XEL161964 Heavy Equipment 05/30/14 22,859.39 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150578 2014 T-20DD T/A Equipment Trlr-AR
  4KNFT222XEL162372 Heavy Equipment 06/23/14 22,148.88 2351 East County Line,
  Des Moines, IA 50320 Q3C 150579 2014 T-14DD T/A Equipment Trailer
  4KNUT1828EL162380 Heavy Equipment 05/21/14 10,235.86 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150584 2014 T-40 T/A Equipment Trailer
  4KNFT2326EL162254 Heavy Equipment 06/21/14 23,054.39 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150585 2014 T-40 T/A Equipment Trailer
  4KNFT2029EL162253 Heavy Equipment 06/23/14 20,765.22 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150586 2015 Armor Lite Steel End Dump Trlr
  56EA65D22FA000111 Heavy Equipment 04/01/14 51,985.63 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150587 2014 Trailking TK80HT Lowboy Trlr
  1TKA05321EM103130 Heavy Equipment 04/01/14 94,189.96 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 150588 2014 Cart-A CMK175 Concrete Mix Trl
  4MFMA1527EM003050 Heavy Equipment 06/11/14 25,204.41 4445 Stickney Ave,
  Toledo, OH 43612 Q3C 150589 2014 Cart-A CMK175 Concrete Mix Trl
  4MFMA1529EM003051 Heavy Equipment 06/11/14 24,669.41 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 150590 2014 Cart-A CMK175 Concrete Mix Trl
  4MFMA1520EM003052 Heavy Equipment 06/11/14 24,889.41 633 Cecelia Drive,
  Pewaukee, WI 53072 Q3C 150591 2015 FT-14E T/A Concrete Forms Trlr
  5FTEE2229F1000704 Heavy Equipment 06/09/14 21,529.84 3066 Spruce Street,
  Little Canada, MN 55117 Q3C 180101 2013 Ingersoll Rand P185WJD
  4FVCABAA3DU450868 Heavy Equipment 04/01/14 18,363.64 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 180102 2013 Ingersoll Rand P185WJD
  4FVCABAA7DU450873 Heavy Equipment 04/01/14 18,363.64 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 180103 2013 Ingersoll Rand P185WJD
  4FVCABAA2DU450876 Heavy Equipment 04/01/14 18,363.64 5300 Colorado Blvd,
  Commerce City, CO 80022 Q3C 180104 2013 Ingersoll Rand P185WJD
  4FVCABAA3DU450871 Heavy Equipment 04/01/14 18,130.90 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 180106 2013 P185WJDU Truck Mounted
  (110467) 462275UCYF06 Heavy Equipment 05/01/14 18,228.00 5300 Colorado Blvd,
  Commerce City, CO 80022 Untitled Unit 110467 / 180106 Q3C 180107 2013
  P185WJDU Truck Mounted (110468) 462276UCYF06 Heavy Equipment 05/01/14
  18,228.00 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit 110468 /
  180107 Q3C 190005 2013 Finn T90 T/A Hydro Seeder 1F9HS1627DF135669 Heavy
  Equipment 04/03/14 46,299.50 5300 Colorado Blvd, Commerce City, CO 80022 Q3C
  200149 2014 Magnum TopCap 305 Breaker H953 Heavy Equipment 05/12/14 12,533.31
  5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C 200150 2014
  Magnum TopCap 305 Breaker H954 Heavy Equipment 05/12/14 12,533.30 5300
  Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C 200151 2014 Magnum
  TopCap 305 Breaker H955 Heavy Equipment 05/12/14 12,533.30 5300 Colorado
  Blvd, Commerce City, CO 80022 Untitled Unit Q3C 200152 2014 Magnum TopCap 305
  Breaker H956 Heavy Equipment 05/12/14 12,533.30 5300 Colorado Blvd, Commerce
  City, CO 80022 Untitled Unit Q3C 200153 2014 Magnum TopCap 305 Breaker H957 Heavy
  Equipment 05/12/14 12,533.30 5300 Colorado Blvd, Commerce City, CO 80022
  Untitled Unit Q3C 200156 2014 CAT PR184 Harley Rake 0PRW00926 Heavy Equipment
  05/30/14 10,763.92 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit
  Q3C 200169 2014 CAT H65DS Asphalt Breaker BYT02646 Heavy Equipment 04/26/14
  14,202.50 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  200170 2014 CAT H65DS Asphalt Breaker BYT02951 Heavy Equipment 04/26/14
  14,202.50 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  200171 2014 CAT H65DS Asphalt Breaker 0BYT03131 Heavy Equipment 05/24/14
  14,560.67 5112 North National Ave, Sioux Falls, SD 57104 Untitled Unit Q3C
  200172 2014 CAT H65DS Asphalt Breaker 0BYT03133 Heavy Equipment 05/12/14
  14,746.55 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit Q3C
  200173 2014 CAT H65DS Asphalt Breaker 0BYT03134 Heavy Equipment 05/24/14
  14,698.03 5112 North National Ave, Sioux Falls, SD 57104 Untitled Unit Q3C
  200176 2014 CAT H65ES Asphalt Breaker 3X800434 Heavy Equipment 06/12/14
  14,202.50 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  200177 2014 CAT H65ES Asphalt Breaker 3X800435 Heavy Equipment 06/12/14
  14,202.50 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  200178 2014 Magnum TopCap 305 Breaker H766 Heavy Equipment 06/28/14 17,492.27
  3066 Spruce Street, Little Canada, MN 55117 Untitled Unit Q3C 290001 2013
  Thaler KESP3050 Undergd Puller W09SP5103CET06395 Heavy Equipment 04/24/14
  83,030.00 5300 Colorado Blvd, Commerce City, CO 80022 Q3C 300106 2014 John
  Deere 710K 4WD ROPS 1T0710KXTEE256781 Heavy Equipment 04/26/14 151,092.20
  5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C 300107 2014
  John Deere 410K 4WD ROPS 1T0410KXCEE258080 Heavy Equipment 04/26/14
  103,188.86 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  300108 2014 John Deere 410K 4WD ROPS 1T0410KXTEE258095 Heavy Equipment
  04/26/14 103,188.86 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300109 2014 John Deere 310K 2WD ROPS 1T0310KXCEE258687 Heavy Equipment
  04/26/14 67,287.72 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300110 2014 John Deere 310SK 4WD ROPS 1T0310SKEEE258398 Heavy Equipment
  04/26/14 77,574.57 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit
  Q3C 300111 2014 John Deere 310K 2WD ROPS 1T0310KXJEE258775 Heavy Equipment
  04/26/14 67,287.72 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300112 2014 John Deere 310K 2WD ROPS 1T0310KXKEE258936 Heavy Equipment
  04/26/14 67,287.72 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300113 2014 John Deere 310K 2WD ROPS 1T0310KXTEE258870 Heavy Equipment
  04/26/14 67,287.72 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300114 2014 John Deere 310K 2WD ROPS 1T0310KXJEE259036 Heavy Equipment
  04/26/14 67,287.72 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300115 2014 John Deere 310K 2WD ROPS 1T0310KXPEE259132 Heavy Equipment
  04/26/14 66,502.13 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit
  Q3C 300116 2014 John Deere 310SK 4WD ROPS 1T0310SKCEE261276 Heavy Equipment
  06/07/14 79,262.07 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300117 2014 John Deere 310SK 4WD ROPS 1T0310SKLEE261279 Heavy Equipment
  06/07/14 79,262.07 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300118 2014 John Deere 310SK 4WD ROPS 1T0310SKCEE261285 Heavy Equipment
  05/24/14 78,000.89 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit
  Q3C 300119 2014 John Deere 310SK 4WD ROPS 1T0310SKJEE261292 Heavy Equipment
  06/07/14 79,262.06 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 300120 2014 John Deere 310SK 4WD ROPS 1T0310SKKEE261551 Heavy Equipment
  06/07/14 79,262.06 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit 

  

 

	
  

  	
  Q3C 300121 2014
  John Deere 310SK 4WD ROPS 1T0310SKPEE261287 Heavy Equipment 05/24/14
  78,000.90 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit Q3C
  330112 2014 CAT CB14 Roller CATCB14BL47300330 Heavy Equipment 05/30/14
  30,242.25 633 Cecelia Drive, Pewaukee, WI 53072 Untitled Unit Q3C 330113 2014
  Wacker RD12-90 Roller 20226902 Heavy Equipment 04/19/14 15,557.37 3066 Spruce
  Street, Little Canada, MN 55117 Untitled Unit Q3C 330114 2014 Wacker RD12-90
  Roller 20226903 Heavy Equipment 04/19/14 15,557.38 3066 Spruce Street, Little
  Canada, MN 55117 Untitled Unit Q3C 330115 2014 Wacker RD12-90 Roller 20249868
  Heavy Equipment 06/28/14 15,623.99 3066 Spruce Street, Little Canada, MN
  55117 Untitled Unit Q3C 330116 2014 Wacker RD12-90 Roller 20251745 Heavy
  Equipment 06/28/14 15,533.27 5112 North National Ave, Sioux Falls, SD 57104
  Untitled Unit Q3C 340126 2013 CAT 236B3 CAT0236BVA9H03574 Heavy Equipment
  05/30/14 16,345.46 633 Cecelia Drive, Pewaukee, WI 53072 Untitled Unit Q3C 340127
  2013 CAT 259B3 Multi-Terrian CAT0259BPYYZ05099 Heavy Equipment 05/30/14
  21,724.81 2351 East County Line, Des Moines, IA 50320 Untitled Unit Q3C
  340129 2014 CAT 236DR CAT0236DPBGZ00492 Heavy Equipment 05/30/14 37,633.88
  3066 Spruce Street, Little Canada, MN 55117 Untitled Unit Q3C 340130 2014 CAT
  236DR CAT0236DABGZ00497 Heavy Equipment 05/30/14 37,633.88 3066 Spruce
  Street, Little Canada, MN 55117 Untitled Unit Q3C 340131 2014 CAT 236DR
  CAT0236DLBGZ00498 Heavy Equipment 05/30/14 37,633.88 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 340132 2014 CAT 236DR
  CAT0236DABGZ00502 Heavy Equipment 05/30/14 37,633.88 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 340133 2014 CAT 236DR
  CAT0236CLBGZ00503 Heavy Equipment 05/30/14 37,633.88 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 340134 2014 CAT 279DW Multi-Terrian
  Loader CAT0279DTGTL00832 Heavy Equipment 05/30/14 70,580.63 3066 Spruce
  Street, Little Canada, MN 55117 Untitled Unit Q3C 340135 2014 CAT 236DR
  CAT0236DEBGZ00519 Heavy Equipment 04/19/14 38,379.53 5300 Colorado Blvd,
  Commerce City, CO 80022 Untitled Unit Q3C 340136 2014 CAT 236DR
  CAT0236DHBGZ00518 Heavy Equipment 04/19/14 38,379.53 5300 Colorado Blvd,
  Commerce City, CO 80022 Untitled Unit Q3C 340137 2014 CAT 236DR
  CAT0236DCBGZ00523 Heavy Equipment 04/19/14 38,379.53 5300 Colorado Blvd,
  Commerce City, CO 80022 Untitled Unit Q3C 340138 2014 CAT 236DR
  CAT0236DJBGZ00625 Heavy Equipment 05/12/14 38,379.53 5300 Colorado Blvd,
  Commerce City, CO 80022 Untitled Unit Q3C 340139 2014 CAT 236DR
  CAT0236DABGZ00628 Heavy Equipment 05/12/14 38,379.53 5300 Colorado Blvd,
  Commerce City, CO 80022 Untitled Unit Q3C 340140 2014 CAT 259D Multi-Terrain
  Loader CAT0259DKFTL01498 Heavy Equipment 06/06/14 50,934.88 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 340141 2014 CAT 279D Multi-Terrain
  Loader CAT0279DCGTL00697 Heavy Equipment 05/30/14 66,428.56 633 Cecelia
  Drive, Pewaukee, WI 53072 Untitled Unit Q3C 340142 2014 CAT 236DR
  CAT0236DHBGZ00504 Heavy Equipment 06/06/14 37,633.88 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 340145 2013 CAT 236B3
  CAT0236BKA9H03621 Heavy Equipment 05/30/14 19,681.13 2351 East County Line,
  Des Moines, IA 50320 Untitled Unit Q3C 350140 2013 CAT 303.5E CR Mini-X
  CAT3035EERKY01266 Heavy Equipment 05/30/14 17,422.14 1613 Read Street, Omaha,
  NE 68112 Untitled Unit Q3C 350162 2014 CAT 303.5E CR Mini-X CAT3035EVRKY02850
  Heavy Equipment 05/30/14 41,524.69 3066 Spruce Street, Little Canada, MN
  55117 Untitled Unit Q3C 350163 2014 CAT 303.5E CR Mini-X CAT3035EERKY02885
  Heavy Equipment 05/30/14 41,524.69 3066 Spruce Street, Little Canada, MN
  55117 Untitled Unit Q3C 350164 2014 CAT 303.5E CR Mini-X CAT3035ETRKY02906
  Heavy Equipment 05/30/14 41,524.70 1613 Read Street, Omaha, NE 68112 Untitled
  Unit Q3C 350165 2013 John Deere 35G Mini-X 1FF035GXKDK270408 Heavy Equipment
  04/01/14 27,228.00 1613 Read Street, Omaha, NE 68112 Untitled Unit Q3C 350166
  2013 John Deere 35G Mini-X 1FF035GXJDK270409 Heavy Equipment 04/01/14
  27,228.00 2351 East County Line, Des Moines, IA 50320 Untitled Unit Q3C
  350167 2014 CAT 303.5E CR Mini-X CAT3035EHRKY02819 Heavy Equipment 04/19/14
  42,225.13 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  350168 2014 CAT 303.5E CR Mini-X CAT3035ELRKY02849 Heavy Equipment 04/19/14
  42,225.13 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  350169 2014 CAT 303.5E CR Mini-X CAT3035EERKY02899 Heavy Equipment 04/19/14
  42,225.13 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  350170 2014 CAT 308E2 CR Mini-X CAT0308EJFJX00600 Heavy Equipment 05/30/14
  112,320.39 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit Q3C
  370003 2009 Superior DT80J Road Broom 810964 Heavy Equipment 05/12/14
  26,602.13 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit Q3C
  370004 2012 Superior DT80C Road Broom 812387 Heavy Equipment 04/07/14
  51,157.75 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit Q3C
  390003 2011 Vermeer RTX1250 Trencher 1VR6110RXB1001083 Heavy Equipment
  05/01/14 96,140.00 5300 Colorado Blvd, Commerce City, CO 80022 Untitled Unit
  Q3C 400053 2014 Vermeer D24x40II Series 2 1VRZ19035E1002542 Heavy
  Equipment 04/26/14 202,855.38 3066 Spruce Street, Little Canada, MN 55117
  Untitled Unit Q3C 400054 2014 Vermeer D24x40II Series 2 1VRZ19034E1002578
  Heavy Equipment 04/01/14 250,149.84 5300 Colorado Blvd, Commerce City, CO
  80022 Untitled Unit Q3C 400055 2014 Grundodrill 4X 4X1405212 Heavy Equipment
  04/26/14 90,979.64 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit
  Q3C 400056 2014 Vermeer D24x40II Series 2 1VRZ19039E1002639 Heavy
  Equipment 05/24/14 243,988.97 3066 Spruce Street, Little Canada, MN 55117
  Untitled Unit Q3C 400057 2014 Vermeer D24x40II Series 2
  1VRZ19034E1002628 Heavy Equipment 05/24/14 243,988.97 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 400058 2014 Vermeer D36x50II
  Series 2 1VR4230D5E1003025 Heavy Equipment 05/30/14 374,046.22 3066
  Spruce Street, Little Canada, MN 55117 Untitled Unit Q3C 400059 2014
  Grundodrill 4X 4X1416216 Heavy Equipment 06/28/14 95,071.33 5300 Colorado
  Blvd, Commerce City, CO 80022 Untitled Unit Q3C 450064 2012 McLaughlin V800HD
  1M9FE1227CS284846 / V8H010813409 Heavy Equipment 04/25/14 53,532.50 5300
  Colorado Blvd, Commerce City, CO 80022 Q3C 450065 2013 McLaughlin V800HD
  1M9FE122XCS284842 / V8H010213388 Heavy Equipment 04/25/14 59,373.70 3066
  Spruce Street, Little Canada, MN 55117 Q3C 450066 2014 Pacific Tek PV800DHO
  4S9BU1420EL228333 / 4181301 Heavy Equipment 05/19/14 51,898.75 5300 Colorado
  Blvd, Commerce City, CO 80022 Q3C 450067 2014 Pacific Tek PV100 (110463)
  4181302 Heavy Equipment 05/19/14 18,101.00 5300 Colorado Blvd, Commerce City,
  CO 80022 Untitled Unit 110463 / 450067 Q3C 450068 2014 McLaughlin V800LEHD
  1M9FE1225ES284699 / V8H043014517 Heavy Equipment 06/12/14 56,213.00 5300 Colorado
  Blvd, Commerce City, CO 80022 Q3C 450069 2014 McLaughlin V800LEHD
  1M9FE1220ES284707 / V8H043014515 Heavy Equipment 06/12/14 56,213.00 5300
  Colorado Blvd, Commerce City, CO 80022 Q3C 450070 2014 McLaughlin V800LEHD
  1M9FE1224ES284709 / V8H043014514 Heavy Equipment 06/12/14 56,213.00 5300
  Colorado Blvd, Commerce City, CO 80022 Q3C 450071 2014 Pacific Tek PV800DHO
  4S9BU1427EL228331 / 4181304 Heavy Equipment 05/21/14 49,727.66 3066 Spruce
  Street, Little Canada, MN 55117 Q3C 450074 2014 Pacific Tek PV800DHO
  4S9BU1429EL228332 / 4181303 Heavy Equipment 06/07/14 54,160.74 5300 Colorado
  Blvd, Commerce City, CO 80022 Q3C 500012 2010 Yale GLP050VX Forklift
  B875V05081H Heavy Equipment 04/02/14 17,013.00 1613 Read Street, Omaha, NE
  68112 Untitled Unit Q3C 600014 2013 Kubota L5240HST 4WD 71183 Heavy Equipment
  02/15/14 26,670.96 3066 Spruce Street, Little Canada, MN 55117 Untitled Unit
  Q3C 700095 2014 VerMac PCMS-1210 Msg Brd/Modem 2S9US4124ES132050 Heavy
  Equipment 04/22/14 15,961.62 3066 Spruce Street, Little Canada, MN 55117
  Untitled Unit Q3C 700096 2013 VerMac PCMS-1210 Msg Brd/Modem
  2S9US4124DS132273 Heavy Equipment 05/15/14 12,319.38 3066 Spruce Street,
  Little Canada, MN 55117 Untitled Unit Q3C 700097 2013 VerMac PCMS-1210 Msg
  Brd/Modem 2S9US1426DS132274 Heavy Equipment 05/15/14 12,319.38 3066 Spruce
  Street, Little Canada, MN 55117 Untitled Unit Q3C 760002 2013 McElroy 412
  Trackstar Crawler C55565 Heavy Equipment 04/07/14 45,249.23 5300 Colorado
  Blvd, Commerce City, CO 80022 Untitled Unit Q3C 800040 2014 Husqvarna FS4800D
  001328658001 Heavy Equipment 03/22/14 24,598.15 5300 Colorado Blvd, Commerce
  City, CO 80022 Untitled Unit Q3C 800041 2014 Husqvarna FS4800D 001328659001
  Heavy Equipment 03/22/14 24,598.15 5300 Colorado Blvd, Commerce City, CO
  80022 Untitled Unit Q3C 800042 2014 Husqvarna FS4800D 001328668002 Heavy
  Equipment 03/22/14 23,827.34 633 Cecelia Drive, Pewaukee, WI 53072 Untitled
  Unit Q3C 800043 2014 Husqvarna FS4800D 001330225001 Heavy Equipment 04/22/14
  24,286.43 2351 East County Line, Des Moines, IA 50320 Untitled Unit Q3C
  860062 2014 DIGITRACK F5 LOCATOR 30048910 / 30048837 / CC00006687 Heavy
  Equipment 04/26/14 20,509.08 3066 Spruce Street, Little Canada, MN 55117
  Untitled Unit 

  

 

	
  

  	
  Q3C 860063 2014
  DIGITRACK F5 LOCATOR 30055351 / 30053987 / 00007400 / 30056345 Heavy
  Equipment 05/24/14 23,888.87 3066 Spruce Street, Little Canada, MN 55117
  Untitled Unit Q3C 860064 2014 DIGITRACK F2 LOCATOR 30054596 / 30054528 /
  00007609 Heavy Equipment 05/30/14 13,578.09 3066 Spruce Street, Little
  Canada, MN 55117 Untitled Unit Q3C 860065 2014 DIGITRACK F5 LOCATOR 30056991
  / 30056343 / 00008124 Heavy Equipment 06/28/14 20,772.34 5300 Colorado Blvd,
  Commerce City, CO 80022 Untitled Unit Total Heavy Equipment 9,947,847.22UBBPromissoryNote10012014

PROMISSORY NOTE

Borrower:    HF FINANCIAL CORP.
P.O. Box 5000
Sioux Falls, SD  57104

 
Lender:        UNITED  BANKERS’  BANK
1650 West 82nd Street
Suite 1500
Bloomington, MN   55431
 (952) 881·5800

Principal Amount:  $4,000,000.00                                                                                         Date of Note:  October 1, 2014
PROMISE TO PAY.  HF FINANCIAL CORP. ("Borrower") promises to pay to UNITED BANKERS' BANK  "Lender"), or order,  in lawful  money  of the  United States of  America, the  principal amount of  Four  Million &  00/100 Dollars   {$4,000,000.00) or  so  much as  may  be  outstanding, together with interest on the  unpaid  outstanding principal  balance  of each  advance.  Interest shall be calculated from the date  of each  advance until repayment of each  advance.
PAYMENT.   Borrower  will pay  this  loan  in one  payment of all outstanding principal  plus  all accrued unpaid  Interest  on  October  1,  2015,  In addition,  Borrower  will pay  regular  quarterly  payments of all accrued unpaid  interest  due  as  of each  payment  date,  beginning January 1,  2015, with  all subsequent lntores1 payments to be due  on the same day of each  quarter  after  that.  Unless  otherwise agreed  or required  by applicable law,  payments will be applied flrs1 to any  late  charges; then  to any  accrued  unpaid  interest; then  to principal; and then  to any unpaid  collection costs.  Borrower will pay Lender at Lender's address shown above  or at such  other  place as  Lender may designate In writing.
VARIABLE INTEREST RATE.  The  Interest note  on  this  Note is subject to change   from time  to  time  based  on  changes in an index which  Is the Lender's Base or Reference Rate United  Bankers' Bank Base  Rate "UBBA" (the "Index"),    Lender  will tell Borrower  the current  Index rate  upon Borrower's request.   The interest rate change will not occur  more  often  than  each  day.    Borrower understands that   Lender  may make loans based  on other  rates  as well.   The Index currently is 3.250% per annum.  Interest  on the  unpaid  principal balance  of this Note will be calculated as  described in the ''INTEREST CALCULATION METHOD" paragraph  using a rate  equal  to the  Index, adjusted if  necessary for any minimum and maximum  rate  limitations  described below,  resulting  In an  initial rate  of 4.000% per annum  based  on  a year  of 360  days.    NOTICE:  Under  no circumstances will the Interest  rate  on this  Note be less  than  4.000% per annum  or more than  the  maximum rata  allowed  by applicable  law.
INTEREST CALCULATION  METHOD,  Interest on  this  Note is computed on a 365/360 basis;  that  is,  by applying the  ratio  of the  interest rate over  a  year  of 360   days,   multiplied  by  the  outstanding  principal  balance,  multiplied  by  the  actual   number   of  days  the  principal  balance   Is outstanding. All interest payable under this Note is computed using this method.
PREPAYMENT. Borrower  may  pay without penalty  all or a  portion  of the  amount  owed  earlier  than  it is due.    Early payments will not, unless agreed  to by Lender In writing,  relieve Borrower  of Borrower's obligation  to continue  to make  payments of accrued  unpaid Interest.  Rather, early payments will reduce  the  principal  balance  due.    Borrower agrees not to send  Lender  payments marked  "paid  in full",  "without recourse", or similar  language. If Borrower  sends such  a payment, Lender may  accept it without  losing any of Lender's rights  under  this Note, and  Borrower will remain obligated  to pay any further  amount  owed  to Lender.   All written  communications concerning disputed amounts, including any check or other  payment instrument that  indicates that  1he  payment constitutes  "payment in full" of the  amount owed  or that  is tendered with  other conditions  or  limitations  or as full satisfaction of a disputed amount must  be mailed or delivered  to:   UNITED BANKERS' BANK, 1650 West S2nd Street. Suite 1500, Bloomington, MN  55431.
LATE CHARGE   If   a  payment   is  10   days  or  more  late,   Borrower  will  be  charged   5.ooo% of  the   regularly  scheduled  payment  or  $7.28, whichever is greater,
INTEREST AFTER DEFAULT.  Upon  default, including  failure  to  pay  upon  final maturity,   the  interest rate  on  this  Note shall  be  Increased   by adding  an  additional  4.000  percentage point  margin  ("Default  Rate  Margin").    The  Default  Rate  Margin  shall  also  apply  to  each  succeeding Interest   rate  change   that  would  have  applied  had  there   been  no  default.     However,   in no event   will the interest rate exceed   the maximum interest  rate  limitations  under  applicable  taw,
DEFAULT. Each of the following shall constitute an event of default ("Event of Default") under this Note: Payment  Default.   Borrower fails to make any payment when  due  under this  Note.
Other  Defaults.    Borrower  tails  to  comply  with  or to  perform  any  other  term,  obligation,  covenant or condition  contained ln this  Note or In
any of the  related  documents or to comply  with or to perform  any term,  obligation,  covenant or condition  contained in any other  agreement
between Lender and  Borrower.
False Statements.  Any warranty, representation or statement made  or furnished  to Lender  by Borrower  or on Borrower's behalf under this Note or the  related  documents is false  or  misleading  in any  material  respect, either  now  or at  the  time made  or furnished  or becomes false or misleading  at any time  thereafter.
Insolvency.  The dissolution or  termination of Borrower's existence as  a going  business, the  insolvency of Borrower,  the  appointment of a receiver   for  any   part   of  Borrower's  property,    any   assignment  for   the   benefit   of   creditors,  any   type   of  creditor   workout,   or  the commencement of any  proceeding under  any  bankruptcy or insolvency  laws  by or against Borrower.
Creditor  or  Forfeiture  Proceedings.   Commencement of  foreclosure or  forfeiture   proceedings,  whether  by  judicial proceeding, self-help, repossession or  any  other  method, by any  creditor  of  Borrower  or  by any  governmental agency   against any  collateral  securing  the  loan. This includes  a garnishment of any of Borrower's accounts, including deposit  accounts, with  Lender.    However,   this Event of Default shall not apply if there  Is a good  faith  dispute by Borrower  as  to the  validity or reasonableness of the  claim which  is the  basis  of the  creditor  or forfeiture  proceeding  and if  Borrower  gives  Lender written  notice  of the creditor  or forfeiture  proceeding and deposits with Lender monies  or a  surety   bond  for  the  creditor   or  forfeiture   proceeding, in an  amount  determined  by  Lender,  in its sole  discretion, as  being  an  adequate reserve  or bond for the dispute.
Events  Affecting  Guarantor.  Any of the  preceding  events occurs with  respect to any guarantor, endorser, surety, or accommodation party of  any  of  the  indebtedness or  any  guarantor,  endorser,  surety,  or  accommodation  party  dies  or  becomes  Incompetent, or  revokes  or disputes the validity of, or liability under,  any guaranty of the indebtedness evidenced by this  Note.
Change  In Ownership.  Any change in ownership of twenty-five percent {25%} or more of the common stock of Borrower.
Adverse   Change.    A material adverse change occurs   in Borrower's financial condition, or Lender believes   the prospect   of payment   or performance of this Note is impaired.
Insecurity. Lender In good faith believes itself Insecure.
Cure  Provisions.    If any default,  other  than  a default  in payment is curable  and  if  Borrower  has  not  been  given  a notice  of a breach  of the same provision  of  this  Note  within  the  preceding   twelve  (12)  months, it may  be cured  if Borrower,  after  Lender  sends written   notice  to Borrower  demanding cure  of such  default:  (1)  cures  the default  within fifteen  (1 5) days:  or   (2)  If  the cure  requires  more than fifteen (15) days,   Immediately   initiates   steps which   Lender  deems in  Lender's   sole  discretion  to  be  sufficient  to  cure   the  default   and  thereafter continues and completes all reasonable and  necessary steps sufficient  to produce  compliance as soon  as reasonably practical.
LENDER'S RIGHTS.   Upon  default,   Lender  may  declare   the  entire  unpaid  principal  balance   under  this  Note  and  all accrued  unpaid  interest immediately  due,  and then  Borrower  will pay that  amount.
ATTORNEYS' FEES; EXPENSES.   Lender  may  him or  pay someone else  to help collect  this  Note if Borrower  does  not  pay.   Borrower will pay Lender that  amount.  This Includes,  subject to any limits under  applicable  law,  Lender's reasonable attorneys' fees  and  Lender's  legal expenses, whether or  not  there  is a  lawsuit,  including  reasonable attorneys'  fees,   expenses for  bankruptcy proceedings !including  efforts   to  modify or vacate any automatic stay  or injunction) and   appeals.  If  not  prohibited  by applicable  law,  Borrower  also  will pay any court  costs, in addition  to all other  sums  provided  by law.
JURY WAIVER. Lender and  Borrower  hereby  waive  the  right to any jury trial In any action,  proceeding, or counterclaim brought  by either  Lender or Borrower  against the other.

Loan No: 2187612
 
PROMISSORY NOTE
(Continued)     Page  2

GOVERNING LAW. This Note will be governed  by federal law applicable to Landor and. to the extant  not  preempted by federal law, the  laws  of the State of Minnesota  without  regard  to its conflicts  of low provisions. This Note has  been  ace opted  by Landor in the State  of Minnesota.
DISHONORED ITEM FEE.  Borrower   will  pay  a  fee  to Lender  of   29.00 if Borrower makes  a payment on Borrower’s loan and the  check  or
preauthorized charge  with  which  Borrower  pays is later dishonored.
RIGHT OF SETOFF. To the extent permitted by applicable law,  Lender reserves  a right  of setoff  in all Borrower's accounts  with  Lender (whether checking, savings, or some other  account).    This includes all accounts  Borrower  holds  jointly  with  someone else and all accounts  Borrower  may open in the future.   However,  this does not include  any IRA or Keogh accounts, or any trust  accounts  for which  setoff  would  be prohibited  by law.   Borrower  authorizes Lender, to the extent  permitted by applicable Jaw, to charge or settle all sums owing  on the indebtedness  against any and all such accounts, and. at Lender's option,  to administratively freeze all such accounts  to allow  lender to protect  Lender's  charge and setoff rights provided In this paragraph.
COLLATERAL.  Borrower  acknowledges this Note is secured by all collateral held in possession  by United  Bankers' Bank, Including  the collateral described In the Commercial Pledge Agreement  dated September 30, 2009.
LINE OF CREDIT. This Note evidences  a revolving  line of credit.   Advances under this Note, as well as directions for payment from Borrower's accounts, may be requested orally or in writing by Borrower or by an authorized person.   Lender may, but need not, require that all oral requests be confirmed  in writing.  Borrower  agrees  to be liable  for all sums  either:   (A)   advanced in accordance  with  the instructions of an authorized person  or   IB  credited  to  any of  Borrower's accounts  with Lender.   The unpaid  principal  balance  owing  on  this  Note  at any  time  may  be evidenced  by endorsements  on this Note  or by Lender's  internal records,  including  daily computer  print-outs.  Lender will have no obligation to advance funds under this Note If:   (A)   Borrower  or any guarantor  is in default  under the terms  of this Note  or any agreement  that Borrower  or any guarantor  has  with  Lender, including any  agreement  made  in connection  with  the  signing  of  this  Note;    (B)   Borrower  or any guarantor ceases  doing  business  or is Insolvent;   (C)   any  guarantor  seeks,  claims  or otherwise   attempts to  limit.  modify  or  revoke  such guarantor's guarantee of  this Note  or any other  Joan with  Lender;   (D)   Borrower  has applied funds provided  pursuant  to this Note  for purposes  other  than those authorized by Lender; or   (E)  Lender in good  faith believes itself  insecure,
PRIOR NOTE. This is a renewal but not  a satisfaction at Note No. 2187612.
SUCCESSOR INTERESTS.   The  terms  of  this  Note  shall  be  binding  upon  Borrower,   and  upon  Borrower's  heirs,  personal  representatives, successors  and assigns, and shall Inure to the benefit  of Lander and its successors  and assigns.
GENERAL PROVISIONS.  If any part  of  this Note  cannot  be enforced,  this  fact  wilt not  affect  the rest  of  the Note.   Lender may delay or  forgo enforcing  any of Its rights  or remedies  under this Note without losing them.   In addition, Lender shall have oil the rights  and remedies provided in the related documents  or available  at law,  in equity,  or otherwise.   Except  as may  be prohibited  by applicable  law,  all of Lender's  rights  and remedies shall be cumulative  and may be exercised  singularly  or concurrently.  Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election  to make expenditures  or to take action  to perform  an obligation  of Borrower  shall not  affect  Lender's  right to declare a default and to exercise  its rights  and remedies.   Borrower  and any other person who signs, guarantees  or endorses this Note, to the extent  allowed by law,  waive presentment, demand  tor payment,  and notice  of dishonor.    Upon any change In the terms of this Note, and unless otherwise  expressly  stated In writing, no party  who  signs  this Note,  whether  as maker,  guarantor,  accommodation maker or endorser, shall be released from liability.  All such parties  agree that  Lender may renew  or extend  (repeatedly  and for any length  of  time} this loan or release any party  or guarantor or collateral;  or Impair,  fail to realize  upon  or perfect  Lender's  security  interest  in  the collateral:  and take any other  action deemed necessary by Lender without the consent  of or notice  to anyone.   All such parties  also agree that Lender may modify  this loan without the consent  of or notice  to  anyone  other  than  the party  with  whom  the modification is made.   The obligations under  this  Note  are joint  and several.

SECTION DISCLOSURE. To the extent  not preempted  by federal law,  this Joan is made under Minnesota  Statutes, Section  334.01.

PRIOR TO SIGNING THIS NOTE, BORROWER READ ANO UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS.  BORROWER AGREES TO THE TERMS OF THE NOTE.
BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. BORROWER:
  HF FINANCIAL CORP.

  By:___/s/ Brent Olthoff____

       Brent   Olthoff,    Sr.   VP;----Treasurer,    CFO   of    HF FINANCIAL CORP.

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