Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.17

ASSIGNMENT OF DEPOSIT ACCOUNT

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Principal	 	Loan Date	 	Maturity	 	Loan No	 	Call / Coll	 	Account	 	Officer	 	Initials
	$3,517,572.00	 	03-23-2007	 	03-23-2008	 	3787	 	2200	 	 	 	242	 	 

References in the shaded area are for Lender’s use only and do not limit the applicability of this document to any particular loan or item. Any item above containing “***” has been omitted due to text length limitations.

	 	 	 	 	 	 	 	 	 
	Borrower:

	 	Homeland Energy Solutions, LLC (TIN:
	 	 	 	Lender:
	 	Home Federal Savings Bank
	 

	 	48-1200438)
	 	 	 	 	 	Business Banking
	 

	 	106 W Main, PO Box C
	 	 	 	 	 	1016 Civic Center Dr NW Suite 300
	 

	 	Riceville, IA 50466
	 	 	 	 	 	Rochester, MN 55901

THIS ASSIGNMENT OF DEPOSIT ACCOUNT dated March 23, 2007, is made and executed between Homeland
Energy Solutions, LLC (“Grantor”) and Home Federal Savings Bank (“Lender”).

ASSIGNMENT. For valuable consideration, Grantor assigns and grants to Lender a security interest
in the Collateral, including without limitation the deposit accounts described below, to secure
the Indebtedness and agrees that Lender shall have the rights stated in this Agreement with
respect to the Collateral, in addition to all other rights which Lender may have by law,

COLLATERAL DESCRIPTION. The word “Collateral” means the following described deposit account
(“Account”):

CD Account Number 520655 with State Bank of Lawler with an approximate balance of $614,000.00

together with (A) all interest, whether now accrued or hereafter accruing; (B) all additional
deposits hereafter made to the Account; (C) any and all proceeds from the Account; and (D) all
renewals, replacements and substitutions for any of the foregoing.

In addition, the word “Collateral” includes all of Grantor’s property (however owned if owned by
more than one person or entity), in Lender’s possession (or in the possession of a third party
subject to Lender’s control), whether existing now or later and whether tangible or intangible
in character, including without limitation each and all of the following:

(A) All property to which Lender acquires title or documents of title.

(B) All property assigned to Lender.

(C) All promissory notes, bills of exchange, stock certificates, bonds, savings passbooks,
time certificates of deposit, insurance policies, and all other Instruments and evidences of
an obligation,

(D) All records relating to any of the property described In this Collateral section, whether
in the form of writing, microfilm, microfiche, or electronic media.

CROSS-COLLATERALIZATION. In addition to the Note, this Agreement secures all obligations, debts
and liabilities, plus interest thereon, of Grantor to Lender, or any one or more of them, as
well as all claims by Lender against Grantor or any one or more of them, whether now existing or
hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or
otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or
contingent, liquidated or unliquidated, whether Grantor may be liable individually or jointly
with others, whether obligated as guarantor, surety, accommodation party or otherwise, and
whether recovery upon such amounts may be or hereafter may become barred by any statute of
limitations, and whether the obligation to repay such amounts may be or hereafter may become
otherwise unenforceable.

RIGHT OF SETOFF. To the extent permitted by applicable law, Lender reserves a right of setoff in
all Grantor’s accounts with Lender (whether checking, savings, or some other account). This
includes all accounts Grantor holds jointly with someone else and all accounts Grantor 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. Grantor authorizes Lender, to the extent permitted
by applicable law, to charge or setoff all sums owing on the Indebtedness against any and all
such accounts.

GRANTOR’S REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE COLLATERAL. With respect to
the Collateral, Grantor represents and promises to Lender that:

Ownership. Grantor is the lawful owner of the Collateral free and clear of all loans, liens,
encumbrances, and claims except as disclosed to and accepted by Lender in writing.

Right to Grant Security Interest. Grantor has the full right, power, and authority to enter
into this Agreement and to assign the Collateral to Lender.

No Prior Assignment. Grantor has not previously granted a security interest in the Collateral
to any other creditor.

No Further Transfer. Grantor shall not sell, assign, encumber, or otherwise dispose of any
of Grantor’s rights in the Collateral except as provided in this Agreement.

No Defaults. There are no defaults relating to the Collateral, and there are no offsets or
counterclaims to the same. Grantor will strictly and promptly do everything required of
Grantor under the terms, conditions, promises, and agreements contained in or relating to
the Collateral.

Notice to Third Party Issuer. With regard to any certificates of deposit or similar
Collateral for which Lender is not the issuer, Grantor agrees to notify the issuer or
obligor of the interests hereby granted to Lender and to obtain from such issuer or obligor
(a) acknowledgment of the interests in favor of Lender, and (b) the issuer’s or obligor’s
agreement to waive in favor of Lender any and all rights of set-off or similar rights or
remedies to which issuer or obligor may be entitled. Grantor further agrees, in connection
therewith, to execute and cause the issuer or obligor to execute any and all
acknowledgments, waivers and other agreements in such form and upon such terms as Lender may
request.

Proceeds. Any and all replacement or renewal certificates, instruments, or other benefits or
proceeds related to the Collateral that are received by Grantor shall be held by Grantor in
trust for Lender and immediately shall be delivered by Grantor to Lender to be held as part
of the Collateral.

Validity; Binding Effect. This Agreement is binding upon Grantor and Grantor’s successors
and assigns and is legally enforceable in
accordance with its terms.

 

 

 

ASSIGNMENT OF DEPOSIT ACCOUNT

					
	Loan No: 3787
	 	(Continued)
	 	Page 2

Financing Statements. Grantor authorizes Lender to file a UGC financing statement, or
alternatively, a copy of this Agreement to perfect Lender’s security interest. At Lender’s
request, Grantor additionally agrees to sign all other documents that are necessary to
perfect, protect, and continue Lender’s security interest in the Property. This includes
making sure Lender is shown as the first and only security interest holder on the title
covering the Property. Grantor will pay all filing fees, title transfer fees, and other fees
and costs involved unless prohibited by law or unless Lender is required by law to pay such
fees and costs. Grantor irrevocably appoints Lender to execute documents necessary to
transfer title if there is a default. Lender may file a copy of this Agreement as a
financing statement. If Grantor changes Grantor’s name or address, or the name or address of
any person granting a security interest under this Agreement changes, Grantor will promptly
notify the Lender of such change.

LENDER’S RIGHTS AND OBLIGATIONS WITH RESPECT TO THE COLLATERAL. While this Agreement is in effect,
Lender may retain the rights to possession of the Collateral, together with any and all evidence of
the Collateral, such as certificates or passbooks. Lender may notify the institution which issued
the Collateral of this Agreement. Grantor agrees that such institution will not pay any amount on
the Collateral, other than to Lender, so long as this Agreement is in effect. This Agreement will
remain in effect until (a) there no longer is any Indebtedness owing to Lender; (b) all
other obligations secured by this Agreement have been fulfilled; and (c) Grantor, in writing, has
requested from Lender a release of this Agreement.

LENDER’S EXPENDITURES. If any action or proceeding is commenced that would materially affect
Lender’s interest in the Collateral or if Grantor fails to comply with any provision of this
Agreement or any Related Documents, including but not limited to Grantor’s failure to discharge
or pay when due any amounts Grantor is required to discharge or pay under this Agreement or any
Related Documents, Lender on Grantor’s behalf may (but shall not be obligated to) take any action
that Lender deems appropriate, including but not limited to discharging or paying all taxes,
liens, security interests, encumbrances and other claims, at any time levied or placed on the
Collateral and paying all costs for insuring, maintaining and preserving the Collateral. All such
expenditures incurred or paid by Lender for such purposes will then bear interest at the rate
charged under the Note from the date incurred or paid by Lender to the date of repayment by
Grantor. All such expenses will become a part of the Indebtedness and, at Lender’s option, will
(A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be
payable with any installment payments to become due during either (1) the term of any applicable
insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment
which will be due and payable at the Note’s maturity. The Agreement also will secure payment of
these amounts, Such right shall be in addition to all other rights and remedies to which Lender
may be entitled upon Default.

LIMITATIONS ON OBLIGATIONS OF LENDER. Lender shall use ordinary reasonable care in the physical
preservation and custody of any certificate or passbook for the Collateral but shall have no
other obligation to protect the Collateral or its value, In particular, but without limitation,
Lender shall have no responsibility (A) for the collection or protection of any income on the
Collateral; (B) for the preservation of rights against issuers of the Collateral or against third
persons; (C) for ascertaining any maturities, conversions, exchanges, offers, tenders, or similar
matters relating to the Collateral; nor ID) for informing the Grantor about any of the above,
whether or not Lender has or is deemed to have knowledge of such matters.

DEFAULT. Each of the following shall constitute an Event of
Default under this Agreement:

Payment Default. Grantor fails to make any payment when due
under the Indebtedness.

Other Defaults. Grantor fails to comply with or to perform any other term, obligation,
covenant or condition contained in this Agreement 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 Grantor,

Default in Favor of Third Parties, Should Grantor or any Grantor default under any loan,
extension of credit, security agreement, purchase or sales agreement, or any other agreement,
in favor of any other creditor or person that may materially affect any of Grantor’s property
or Grantor’s or any Grantor’s ability to repay the Indebtedness or perform their respective
obligations under this Agreement or any of the Related Documents.

False Statements. Any warranty, representation or statement made or furnished to Lender by
Grantor or on Grantor’s behalf under this Agreement 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.

Defective Collateralization. This Agreement or any of the Related Documents ceases to be in
full force and effect (including failure of any collateral document to create a valid and
perfected security interest or lien) at any time and for any reason.

Insolvency. The dissolution of Grantor (regardless of whether election to continue is made),
any member withdraws from the limited liability company, or any other termination of
Grantor’s existence as a going business or the death of any member, the insolvency of
Grantor, the appointment of a receiver for any part of Grantor’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 Grantor.

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 Grantor or by any governmental agency against any collateral securing the Indebtedness.
This includes a garnishment of any of Grantor’s accounts, including deposit accounts, with
Lender. However, this Event of Default shall not apply if there is a good faith dispute by
Grantor as to the validity or reasonableness of the claim which is the basis of the creditor
or forfeiture proceeding and if Grantor 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 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.

Adverse Change. A material adverse change occurs in Grantor’s financial condition, or Lender
believes the prospect of payment or performance of the Indebtedness is impaired.

Insecurity. Lender in good faith believes itself insecure.

 

 

 

ASSIGNMENT OF DEPOSIT ACCOUNT

					
	Loan No: 3787
	 	(Continued)
	 	Page 3

Cure Provisions. If any default, other than a default in payment is curable and if Grantor
has not been given a notice of a breach of the same provision of this Agreement within the
preceding twelve (12) months, it may be cured if Grantor, after receiving written notice from
Lender demanding cure of such default: (1) cures the default within fifteen (15) 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.

RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, or at any time
thereafter, Lender may exercise any one or more of the following rights and remedies, in addition
to any rights or remedies that may be available at law, in equity, or otherwise:

Accelerate Indebtedness. Lender may declare all Indebtedness of Grantor to Lender immediately
due and payable, without notice of any kind to Grantor.

Surrender of Account. Lender may surrender the Account to the Issuer and obtain payment
thereunder subject to any early withdrawal penalty imposed by the Issuer, when applicable.

Application of Account Proceeds. Lender may obtain all funds in the Account from the issuer
of the Account and apply them to the Indebtedness in the same manner as if the Account had
been issued by Lender. If the Account is subject to an early withdrawal penalty, that penalty
shall be deducted from the Account before its application to the Indebtedness, whether the
Account is with Lender or some other institution. Any excess funds remaining after
application of the Account proceeds to the Indebtedness will be paid to Grantor as the
interests of Grantor may appear. Grantor agrees, to the extent permitted by law, to pay any
deficiency after application of the proceeds of the Account to the Indebtedness. Lender also
shall have all the rights of a secured party under the Iowa Uniform Commercial Code, even if
the Account is not otherwise subject to such Code concerning security interests, and the
parties to this Agreement agree that the provisions of the Code giving rights to a secured
party shall nonetheless be a part of this Agreement.

Transfer Title. Lender may effect transfer of title upon sale of all or part of the
Collateral. For this purpose, Grantor irrevocably appoints Lender as Grantor’s
attorney-in-fact to execute endorsements, assignments and instruments in the name of Grantor
and each of them (if more than one) as shall be necessary or reasonable.

Other Rights and Remedies. Lender shall have and may exercise any or all of the rights and
remedies of a secured creditor under the provisions of the Iowa Uniform Commercial Code, at
law, in equity, or otherwise.

Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any
deficiency remaining in the Indebtedness due to Lender after application of all amounts
received from the exercise of the rights provided in this section.

Election of Remedies. Except as may be prohibited by applicable law, all of Lender’s rights
and remedies, whether evidenced by this Agreement or by any other writing, 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 Grantor under this Agreement, after Grantor’s
failure to perform, shall not affect Lender’s right to declare a default and exercise its
remedies.

Cumulative Remedies. All of Lender’s rights and remedies, whether evidenced by this Agreement
or by any other writing, 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 Grantor under
this Agreement, after Grantor’s failure to perform, shall not affect Lender’s right to
declare a default and to exercise its remedies.

MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

Amendments. This Agreement, together with any Related Documents, constitutes the entire
understanding and agreement of the parties as to the matters set forth in this Agreement. No
alteration of or amendment to this Agreement shall be effective unless given in writing and
signed by the party or parties sought to be charged or bound by the alteration or amendment.

Attorneys’ Fees; Expenses. Grantor agrees to pay upon demand all of Lender’s costs and
expenses, including Lender’s attorneys’ fees and Lender’s legal expenses, incurred in
connection with the enforcement of this Agreement. Lender may hire or pay someone else to
help enforce this Agreement, and Grantor shall pay the costs and expenses of such
enforcement. Costs and expenses include Lender’s attorneys’ fees and legal expenses whether
or not there is a lawsuit, including attorneys’ fees and legal expenses for bankruptcy
proceedings (including efforts to modify or vacate any automatic stay or injunction),
appeals, and any anticipated post-judgment collection services. Grantor also shall pay all
court costs and such additional fees as may be directed by the court.

Caption Headings. Caption headings in this Agreement are for convenience purposes only and
are not to be used to interpret or define the provisions of this Agreement.

Governing Law. This Agreement will be governed by federal law applicable to Lender and, to
the extent not preempted by federal law, the laws of the State of Iowa without regard to Its
conflicts of law provisions. This Agreement has been accepted by Lender in the State of Iowa,

No Waiver by Lender. Lender shall not be deemed to have waived any rights under this
Agreement unless such waiver is given in writing and signed by Lender. No delay or omission
on the part of Lender in exercising any right shall operate as a waiver of such right or any
other right. A waiver by Lender of a provision of this Agreement shall not prejudice or
constitute a waiver of Lender’s right otherwise to demand strict compliance with that
provision or any other provision of this Agreement. No prior waiver by Lender, nor any course
of dealing between Lender and Grantor, shall constitute a waiver of any of Lender’s rights or
of any of Grantor’s obligations as to any future transactions. Whenever the consent of Lender
is required under this Agreement, the granting of such consent by Lender in any instance
shall not constitute continuing consent to subsequent instances where such consent is
required and in all cases such consent may be granted or withheld in the sole discretion of
Lender.

Notices. Any notice required to be given under this Agreement shall be given in writing, and
shall be effective when actually delivered, when actually received by telefacsimile (unless
otherwise required by law), when deposited with a nationally recognized overnight courier,
or, if mailed, when deposited in the United States mail, as first class, certified or
registered mail postage prepaid, directed to the addresses shown near the beginning of this
Agreement. Any party may change its address for notices under this Agreement by giving formal
written notice to the other parties, specifying that the purpose of the notice is to change the
party’s address. For notice purposes, Grantor agrees to keep Lender informed at all times of
Grantor’s current address. Unless otherwise provided or required by law, if there is more
than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to
all Grantors.

 

 

 

ASSIGNMENT OF DEPOSIT ACCOUNT

					
	Loan No: 3787
	 	(Continued)
	 	Page 4

Power of Attorney. Grantor hereby appoints Lender as its true and lawful attorney-in-fact,
irrevocably, with full power of substitution to do the following: (1) to demand, collect,
receive, receipt for, sue and recover all sums of money or other property which may now or
hereafter become due, owing or payable from the Collateral; (2) to execute, sign and endorse
any and all claims, instruments, receipts, checks, drafts or warrants issued in payment for
the Collateral; (3) to settle or compromise any and all claims arising under the Collateral,
and in the place and stead of Grantor, to execute and deliver its release and settlement for
the claim; and (4) to file any claim or claims or to take any action or institute or take
part in any proceedings, either in its own name or in the name of Grantor, or otherwise,
which in the discretion of Lender may seem to be necessary or advisable. This power is given
as security for the Indebtedness, and the authority hereby conferred is and shall be
irrevocable and shall remain in full force and effect until renounced by Lender.

Severabillty. If a court of competent jurisdiction finds any provision of this Agreement to
be illegal, invalid, or unenforceable as to any circumstance, that finding shall not make the
offending provision illegal, invalid, or unenforceable as to any other circumstance. If
feasible, the offending provision shall be considered modified so that it becomes legal,
valid and enforceable. If the offending provision cannot be so modified, it shall be
considered deleted from this Agreement, Unless otherwise required by law, the illegality,
invalidity, or unenforceability of any provision of this Agreement shall not affect the
legality, validity or enforceability of any other provision of this Agreement.

Successors and Assigns. Subject to any limitations stated in this Agreement on transfer of
Grantor’s interest, this Agreement shall be binding upon and inure to the benefit of the
parties, their successors and assigns, If ownership of the Collateral becomes vested in a
person other than Grantor, Lender, without notice to Grantor, may deal with Grantor’s
successors with reference to this Agreement and the Indebtedness by way of forbearance or
extension without releasing Grantor from the obligations of this Agreement or liability under
the Indebtedness.

Survival of Representations and Warranties. All representations, warranties, and agreements
made by Grantor in this Agreement shall survive the execution and delivery of this Agreement,
shall be continuing in nature, and shall remain in full force and effect until such time as
Grantor’s Indebtedness shall be paid in full.

Time is of the Essence. Time is of the essence in the performance of this Agreement.

DEFINITIONS. The following capitalized words and terms shall have the following meanings when
used in this Agreement. Unless specifically stated to the contrary, all references to dollar
amounts shall mean amounts in lawful money of the United States of America. Words and terms used
in the singular shall include the plural, and the plural shall include the singular, as the
context may require. Words and terms not otherwise defined in this Agreement shall have the
meanings attributed to such terms in the Uniform Commercial Code:

Account. The word “Account” means the deposit accounts described in the “Collateral
Description” section.

Agreement. The word “Agreement” means this Assignment of Deposit Account, as this Assignment
of Deposit Account may be amended or modified from time to time, together with all exhibits
and schedules attached to this Assignment of Deposit Account from time to time.

Borrower. The word “Borrower” means Homeland Energy Solutions, LLC and includes all
co-signers and co-makers signing the Note and all their successors and assigns.

Collateral. The word “Collateral” means all of Grantor’s right, title and interest in and to
all the Collateral as described in the Collateral Description section of this Agreement.

Default. The word “Default” means the Default set forth in this Agreement in the section titled
“Default”.

Event of Default. The words “Event of Default” mean any of the events of default set forth in
this Agreement in the default section of this Agreement.

Grantor. The word “Grantor” means Homeland Energy Solutions, LLC,

Guaranty. The word “Guaranty” means the guaranty from guarantor, endorser, surety, or
accommodation party to Lender, including without limitation a guaranty of all or part of the
Note.

Indebtedness. The word “Indebtedness” means the indebtedness evidenced by the Note or Related
Documents, including all principal and interest together with all other indebtedness and
costs and expenses for which Grantor is responsible under this Agreement or under any of the
Related Documents, Specifically, without limitation, Indebtedness includes all amounts that
may be indirectly secured by the Cross-Collateralization provision of this Agreement.

Lender. The word “Lender” means Home Federal Savings Bank, its successors and assigns.

Note. The word “Note” means the Note executed by Homeland Energy Solutions, LLC in the
principal amount of $3,517,672.00 dated March 23, 2007, together with all renewals of,
extensions of, modifications of, refinancings of, consolidations of, and substitutions for
the note or credit agreement.

Property. The word “Property” means all of Grantor’s right, title and interest in and to all
the Property as described in the “Collateral Description” section of this Agreement.

Related Documents. The words “Related Documents” mean all promissory notes, credit
agreements, loan agreements, environmental agreements, guaranties, security agreements,
mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments,
agreements and documents, whether now or hereafter existing, executed in connection with the
Indebtedness.

GRANTOR HAS READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS ASSIGNMENT OF DEPOSIT ACCOUNT AND
AGREES TO ITS TERMS. THIS AGREEMENT IS DATED MARCH 23, 2007.

GRANTOR ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS ASSIGNMENT OF DEPOSIT ACCOUNT AND ALL
OTHER DOCUMENTS RELATING TO THIS DEBT,

 

 

 

ASSIGNMENT OF DEPOSIT ACCOUNT

					
	Loan No: 3787
	 	(Continued)
	 	Page 5

	 	 	 	 	 	 	 	 	 
	GRANTOR:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	HOMELAND ENERGY SOLUTIONS, LLC	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Stephen K. Eastman
	 	By:
	 	/s/ Bernard Retterath	 	 
	 

	 	 

Steve Eastman, President of Homeland Energy
	 	 	 	 

Bernard Retterath, Treasurer of Homeland Energy
	 	  
	 

	 	Solutions, LLC
	 	 	 	Solutions, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	LENDER:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	HOME FEDERAL SAVINGS BANK	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	X

	 	/s/ Bradley Krehbiel	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	Authorized SignerFiled by Bowne Pure Compliance

 

Exhibit 10.18

FOR RECORDER’S USE ONLY

Prepared By: Bradley Krehbiel, Executive Vice President, Home Federal Savings Bank, 1016
Civic Center Dr NW Suite 300, Rochester, MN 55901, (507) 252-7163

ADDRESS TAX STATEMENT:

Home Federal Savings Bank, Business Banking, 1016 Civic Center Dr NW Suite 300, Rochester,
MN 55901

RECORDATION REQUESTED BY:

Home Federal Savings Bank, Business Banking, 1016 Civic Center Dr NW Suite 300, Rochester,
MN 55901

WHEN RECORDED MAIL TO:

Home Federal Savings Bank, Business Banking, 1016 Civic Center Dr NW Suite 300, Rochester,
MN 55901

ASSIGNMENT OF RENTS

The names of all Grantors (sometimes “Grantor”) can be found on page 1 of this Assignment. The
names of all Grantees (sometimes “Lender”) can be found on page 1 of this Assignment. The property
address can be found on page 1 of this Assignment. The legal description can be found on page 1 of
this Assignment.

THIS ASSIGNMENT OF RENTS dated March 23, 2007, is made and executed between Homeland Energy
Solutions, LLC, an Iowa Limited Liability Company (referred to below as “Grantor”) and Home Federal
Savings Bank, whose address is 1016 Civic Center Dr NW Suite 300, Rochester, MN 55901 (referred to
below as “Lender”).

ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security
interest in, and conveys to Lender all of Grantor’s right, title, and interest in and to the Rents
from the following described Property located in Chickasaw County, State of Iowa:

See Exhibit A, which is attached to this Assignment and made a part of this Assignment as if
fully set forth herein.

The Property or its address is commonly known as IA.

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 2

CROSS-COLLATERALIZATION. In addition to the Note, this Assignment secures all obligations, debts
and liabilities, plus interest thereon, of Grantor to Lender, or any one or more of them, as well
as all claims by Lender against Grantor or any one or more of them, whether now existing or
hereafter arising,
whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether
due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated
or unliquidated, whether Grantor may be liable individually or jointly with others, whether
obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such
amounts may be or hereafter may become barred by any statute of limitations, and whether the
obligation to repay such amounts may be or hereafter may become otherwise unenforceable.

FUTURE ADVANCES. In addition to the Note, this Assignment secures all future advances made by
Lender to Grantor whether or not the advances are made pursuant to a commitment. Specifically,
without limitation, this Assignment secures, in addition to the amounts specified in the Note, all
future amounts Lender in its discretion may loan to Grantor, together with all interest thereon.

THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND
ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED DOCUMENTS. THIS
ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:

PAYMENT AND PERFORMANCE. Except as otherwise provided in this Assignment or any Related Documents,
Grantor shall pay to Lender all amounts secured by this Assignment as they become due, and shall
strictly perform all of Grantor’s obligations under this Assignment. Unless and until Lender
exercises its right to collect the Rents as provided below and so long as there is no default under
this Assignment, Grantor may remain in possession and control of and operate and manage the
Property and collect the Rents, provided that the granting of the right to collect the Rents shall
not constitute Lender’s consent to the use of cash collateral in a bankruptcy proceeding.

GRANTOR’S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:

Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens,
encumbrances, and claims except as disclosed to and accepted by Lender in writing.

Right to Assign. Grantor has the full right, power and authority to enter into this Assignment
and to assign and convey the Rents to Lender.

No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other
person by any instrument now in force.

No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of
Grantor’s rights in the Rents except as provided in this Assignment.

LENDER’S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even
though no default shall have occurred under this Assignment, to collect and receive the Rents. For
this purpose, Lender is hereby given and granted the following rights, powers and authority:

Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them
of this Assignment and directing all Rents to be paid directly to Lender or Lender’s agent.

Enter the Property. Lender may enter upon and take possession of the Property; demand, collect
and receive from the tenants or from any other persons liable therefor, all of the Rents;
institute and carry on all legal proceedings necessary for the protection of the Property,
including such proceedings as may be necessary to recover possession of the Property; collect
the Rents and remove any tenant or tenants or other persons from the Property.

Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the
same in repair; to pay the costs thereof and of all services of all employees, including their
equipment, and of all continuing costs and expenses of maintaining the Property in proper repair
and condition, and also to pay all taxes, assessments and water utilities, and the premiums on
fire and other insurance effected by Lender on the Property.

Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the
State of Iowa and also all other laws, rules, orders, ordinances and requirements of all other
governmental agencies affecting the Property.

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 3

Lease the Property. Lender may rent or lease the whole or any part of the Property for such term
or terms and on such conditions as Lender may deem appropriate.

Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in
Lender’s name or in Grantor’s name, to rent and manage the Property, including the collection and
application of Rents.

Other Acts. Lender may do all such other things and acts with respect to the Property as Lender
may deem appropriate and may act exclusively and solely in the place and stead of Grantor and to
have all of the powers of Grantor for the purposes stated above.

No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things,
and the fact that Lender shall have performed one or more of the foregoing acts or things shall
not require Lender to do any other specific act or thing.

APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property
shall be for Grantor’s account and Lender may pay such costs and expenses from the Rents. Lender,
in its sole discretion, shall determine the application of any and all Rents received by it;
however, any such Rents received by Lender which are not applied to such costs and expenses shall
be applied to the Indebtedness. All expenditures made by Lender under this Assignment and not
reimbursed from the Rents shall become a part of the Indebtedness secured by this Assignment, and
shall be payable on demand, with interest at the Note rate from date of expenditure until paid.

FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the
obligations imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender
shall execute and deliver to Grantor a suitable satisfaction of this Assignment and suitable
statements of termination of any financing statement on file evidencing Lender’s security interest
in the Rents and the Property. Any termination fee required by law shall be paid by Grantor, if
permitted by applicable law.

NO OBLIGATION OF LENDER. The assignment and security interest granted in this Assignment shall not
be deemed or construed to constitute Lender as a mortgagee or trustee in possession of the
Property, to obligate Lender to lease the Property or to attempt to do so, or to take any action,
incur any expense or perform or discharge any obligation, duty or liability whatsoever under any of
the leases or otherwise.

LENDER’S EXPENDITURES. If any action or proceeding is commenced that would materially affect
Lender’s interest in the Property or if Grantor fails to comply with any provision of this
Assignment or any Related Documents, including but not limited to Grantor’s failure to discharge or
pay when due any amounts Grantor is required to discharge or pay under this Assignment or any
Related Documents, Lender on Grantor’s behalf may (but shall not be obligated to} take any action
that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens,
security interests, encumbrances and other claims, at any time levied or placed on the Rents or the
Property and paying all costs for insuring, maintaining and preserving the Property. All such
expenditures incurred or paid by Lender for such purposes will then bear interest at the rate
charged under the Note from the date incurred or paid by Lender to the date of repayment by
Grantor. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A)
be payable on demand; (B) be added to the balance of the Note and be apportioned among and be
payable with any installment payments to become due during either (1) the term of any applicable
insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment
which will be due and payable at the Note’s maturity. The Assignment also will secure payment of
these amounts. Such right shall be in addition to all other rights and remedies to which Lender may
be entitled upon Default.

DEFAULT. Each of the following, at Lender’s option, shall constitute an Event of Default under this
Assignment:

Payment Default. Grantor fails to make any payment when due under the Indebtedness.

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 4

Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant
or condition contained in this Assignment 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 Grantor.

Default on Other Payments. Failure of Grantor within the time required by this Assignment to
make any payment for taxes or insurance, or any other payment necessary to prevent filing of or
to effect discharge of any lien.

Default in Favor of Third Parties. Grantor defaults under any loan, extension of credit,
security agreement, purchase or sales agreement, or any other agreement, in favor of any other
creditor or person that may materially affect any of Grantor’s property or Grantor’s ability to
perform Grantor’s obligations under this Assignment or any of the Related Documents.

False Statements. Any warranty, representation or statement made or furnished to Lender by
Grantor or on Grantor’s behalf under this Assignment 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.

Defective Collateralization. This Assignment or any of the Related Documents ceases to be in
full force and effect (including failure of any collateral document to create a valid and
perfected security interest or lien) at any time and for any reason.

Death or Insolvency. The dissolution of Grantor’s (regardless of whether election to continue is
made), any member withdraws from the limited liability company, or any other termination of
Grantor’s existence as a going business or the death of any member, the insolvency of Grantor,
the appointment of a receiver for any part of Grantor’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 Grantor.

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
Grantor or by any governmental agency against the Rents or any property securing the
Indebtedness. This includes a garnishment of any of Grantor’s accounts, including deposit
accounts, with Lender. However, this Event of Default shall not apply if there is a good faith
dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the
creditor or forfeiture proceeding and if Grantor 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.

Property Damage or Loss. The Property is lost, stolen, substantially damaged, sold, or borrowed
against.

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. In the event of a death, Lender, at
its option, may, but shall not be required to, permit the guarantor’s estate to assume
unconditionally the obligations arising under the guaranty in a manner satisfactory to Lender,
and, in doing so, cure any Event of Default.

Adverse Change. A material adverse change occurs in Grantor’s financial condition, or Lender
believes the prospect of payment or performance of the Indebtedness 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 Grantor has
not been given a notice of a breach of the same provision of this Assignment within the
preceding twelve (12) months, it may be cured if Grantor, after receiving written notice from
Lender demanding cure of such default: (1) cures the default within fifteen (15) 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.

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 5

RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time
thereafter, Lender may exercise any one or more of the following rights and remedies, in addition
to any other rights or remedies provided by law:

Accelerate Indebtedness. Lender shall have the right at its option to declare the entire
Indebtedness immediately due and payable, including any prepayment penalty which Grantor would
be required to pay without notice, except as may be expressly required by applicable law.

Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the
Property and collect the Rents, including amounts past due and unpaid, and apply the net
proceeds, over and above Lender’s costs, against the Indebtedness. In furtherance of this right,
Lender shall have all the rights provided for in the Lender’s Right to Receive and Collect Rents
Section, above. If the Rents are collected by Lender, then Grantor irrevocably designates Lender
as Grantor’s attorney-in-fact to endorse instruments received in payment thereof in the name of
Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users
to Lender in response to Lender’s demand shall satisfy the obligations for which the payments
are made, whether or not any proper grounds for the demand existed. Lender may exercise its
rights under this subparagraph either in person, by agent, or through a receiver.

Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of
all or any part of the Property, with the power to protect and preserve the Property, to operate
the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply
the proceeds, over and above the cost of the receivership, against the Indebtedness. The
receiver may serve without bond if permitted by law. Lender’s right to the appointment of a
receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness
by a substantial amount. Employment by Lender shall not disqualify a person from serving as a
receiver.

Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or
the Note or by law.

Election of Remedies. 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
Grantor under this Assignment, after Grantor’s failure to perform, shall not affect Lender’s
right to declare a default and exercise its remedies.

Attorneys’ Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms
of this Assignment, Lender shall be entitled to recover such sum as the court may adjudge
reasonable as attorneys’ fees at trial and upon any appeal. Whether or not any court action is
involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in
Lender’s opinion are necessary at any time for the protection of its interest or the enforcement
of its rights shall become a part of the Indebtedness payable on demand’ and shall bear interest
at the Note rate from the date of the expenditure until repaid. Expenses covered by this
paragraph include, without limitation, however subject to any limits under applicable law,
Lender’s attorneys’ fees and Lender’s legal expenses, whether or not there is a lawsuit,
including attorneys’ fees and expenses for bankruptcy proceedings (including efforts to modify
or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment
collection services, the cost of searching records, obtaining title reports (including
foreclosure reports), surveyors’ reports, and appraisal fees, title insurance, and fees for the
Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in
addition to all other sums provided by law.

MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment:

Amendments. This Assignment, together with any Related Documents, constitutes the entire
understanding and agreement of the parties as to the matters set forth in this Assignment. No
alteration of or amendment to this Assignment shall be effective unless given in writing and
signed by the party or parties sought to be charged or bound by the alteration or amendment.

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 6

Caption Headings. Caption headings in this Assignment are for convenience purposes only and are
not to be used to interpret or define the provisions of this Assignment.

Governing Law. This Assignment will be governed by federal law applicable to Lender and, to the
extent not preempted by federal law, the laws of the State of Iowa without regard to its
conflicts of law provisions. This Assignment has been accepted by Lender in the State of Iowa.

Merger. There shall be no merger of the interest or estate created by this assignment with any
other interest or estate in the Property at any time held by or for the benefit of Lender in any
capacity, without the written consent of Lender.

Interpretation. (1) In all cases where there is more than one Borrower or Grantor, then all
words used in this Assignment in the singular shall be deemed to have been used in the plural
where the context and construction so require. (2) If more than one person signs this Assignment
as “Grantor,” the obligations of each Grantor are joint and several. This means that if Lender
brings a lawsuit, Lender may sue any one or more of the Grantors. If Borrower and Grantor are
not the same person, Lender need not sue Borrower first, and that Borrower need not be joined in
any lawsuit. (3) The names given to paragraphs or sections in this Assignment are for
convenience purposes only. They are not to be used to interpret or define the provisions of this
Assignment.

No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment
unless such waiver is given in writing and signed by Lender. No delay or omission on the part of
Lender in exercising any right shall operate as a waiver of such right or any other right. A
waiver by Lender of a provision of this Assignment shall not prejudice or constitute a waiver of
Lender’s right otherwise to demand strict compliance with that provision or any other provision
of this Assignment. No prior waiver by Lender, nor any course of dealing between Lender and
Grantor, shall constitute a waiver of any of Lender’s rights or of any of Grantor’s obligations
as to any future transactions. Whenever the consent of Lender is required under this Assignment,
the granting of such consent by Lender in any instance shall not constitute continuing consent
to subsequent instances where such consent is required and in all cases such consent may be
granted or withheld in the sole discretion of Lender.

Merger. There shall be no merger of the interest or estate created by this assignment with any
other interest or estate in the Property at any time held by or for the benefit of Lender in any
capacity, without the written consent of Lender.

Notices. Any notice required to be given under this Assignment shall be given in writing, and
shall be effective when actually delivered, when actually received by telefacsimile (unless
otherwise required by law), when deposited with a nationally recognized overnight courier, or,
if mailed, when deposited in the United States mail, as first class, certified or registered
mail postage prepaid, directed to the addresses shown near the beginning of this Assignment. Any
party may change its address for notices under this Assignment by giving formal written notice
to the other parties, specifying that the purpose of the notice is to change the party’s
address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor’s
current address. Unless otherwise provided or required by law, if there is more than one
Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.

Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this
Assignment are granted for purposes of security and may not be revoked by Grantor until such
time as the same are renounced by Lender.

Severability. If a court of competent jurisdiction finds any provision of this Assignment to be
illegal, invalid, or unenforceable as to any circumstance, that finding shall not make the
offending provision illegal, invalid, or unenforceable as to any other circumstance. If
feasible, the offending provision shall be considered modified so that it becomes legal, valid
and enforceable. If the offending provision
cannot be so modified, it shall be considered deleted from this Assignment. Unless otherwise
required by law, the illegality, invalidity, or unenforceability of any provision of this
Assignment shall not affect the legality, validity or enforceability of any other provision of
this Assignment.

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 7

Successors and Assigns. Subject to any limitations stated in this Assignment on transfer of
Grantor’s interest, this Assignment shall be binding upon and inure to the benefit of the
parties, their successors and assigns. If ownership of the Property becomes vested in a person
other than Grantor, Lender, without notice to Grantor, may deal with Grantor’s successors with
reference to this Assignment and the Indebtedness by way of forbearance or extension without
releasing Grantor from the obligations of this Assignment or liability under the Indebtedness.

Time is of the Essence. Time is of the essence in the performance of this Assignment.

RELEASE OF RIGHTS OF DOWER, HOMESTEAD AND DISTRIBUTIVE SHARE. Each of the undersigned hereby
relinquishes all rights of dower, homestead and distributive share in and to the Property and
waives all rights of exemption as to any of the Property. If a Grantor is not an owner of the
Property, that Grantor executes this Mortgage for the sole purpose of relinquishing and waiving
such rights.

WAIVER OF RIGHT OF REDEMPTION. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY CONTAINED IN
THIS ASSIGNMENT, GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OF REDEMPTION FROM SALE UNDER ANY ORDER
OR JUDGMENT OF FORECLOSURE ON GRANTOR’S BEHALF AND ON BEHALF OF EACH AND EVERY PERSON, EXCEPT
JUDGMENT CREDITORS OF GRANTOR, ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY SUBSEQUENT TO THE
DATE OF THIS ASSIGNMENT.

DEFINITIONS. The following capitalized words and terms shall have the following meanings when used
in this Assignment. Unless specifically stated to the contrary, all references to dollar amounts
shall mean amounts in lawful money of the United States of America. Words and terms used in the
singular shall include the plural, and the plural shall include the singular, as the context may
require. Words and terms not otherwise defined in this Assignment shall have the meanings
attributed to such terms in the Uniform Commercial Code:

Assignment. The word “Assignment” means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF RENTS may
be amended or modified from time to time, together with all exhibits and schedules attached to
this ASSIGNMENT OF RENTS from time to time.

Borrower. The word “Borrower” means Homeland Energy Solutions, LLC.

Default. The word “Default” means the Default set forth in this Assignment in the section titled
“Default”.

Event of Default. The words “Event of Default” mean any of the events of default set forth in
this Assignment in the default section of this Assignment.

Grantor. The word “Grantor” means Homeland Energy Solutions, LLC.

Guaranty. The word “Guaranty” means the guaranty from guarantor, endorser, surety, or
accommodation party to Lender, including without limitation a guaranty of all or part of the
Note.

Indebtedness. The word “Indebtedness” means all principal, interest and late fees, and other
amounts, costs and expenses payable under the Note or Related Documents, together with all
renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or
Related Documents and any amounts expended or advanced by Lender to discharge Grantor’s
obligations or expenses incurred by Lender to enforce Grantor’s obligations under this
Assignment, together with interest on such amounts as provided in this Assignment. Specifically,
without limitation, Indebtedness includes the future advances set forth in the Future Advances
provision, together with all interest thereon and all amounts that may be indirectly secured by
the Cross-Collateralization provision of this Assignment.

Lender. The word “Lender” means Home Federal Savings Bank, its successors and assigns.

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 8

Mortgage. The word “Mortgage” means this ASSIGNMENT OF RENTS between Grantor and Lender.

Note. The word “Note” means the promissory note dated March 23, 2007, in the original principal
amount of $3,517,572.00 from Grantor to Lender, together with all renewals of, extensions of,
modifications of, refinancings of, consolidations of, and substitutions for the promissory note
or agreement.

Property. The word “Property” means all of Grantor’s right, title and interest in and to all the
Property as described in the “Assignment” section of this Assignment.

Related Documents. The words “Related Documents” mean all promissory notes, credit agreements,
loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of
trust, security deeds, collateral mortgages, and all other instruments, agreements and documents,
whether now or hereafter existing, executed in connection with the Indebtedness.

Rents. The word “Rents” means all of Grantor’s present and future rights, title and interest in,
to and under any and all present and future leases, including, without limitation, all rents,
revenue, income, issues, royalties, bonuses, accounts receivable, cash or security deposits,
advance rentals, profits and proceeds from the Property, and other payments and benefits derived
or to be derived from such leases of every kind and nature, whether due now or later, including
without limitation Grantor’s right to enforce such leases and to receive and collect payment and
proceeds thereunder.

THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS ASSIGNMENT, AND NOT PERSONALLY
BUT AS AN AUTHORIZED SIGNER, HAS CAUSED THIS ASSIGNMENT TO BE SIGNED AND EXECUTED ON BEHALF OF
GRANTOR ON MARCH 23, 2007.

GRANTOR ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS ASSIGNMENT OF RENTS AND ALL OTHER
DOCUMENTS RELATING TO THIS DEBT.

	 	 	 	 	 
	GRANTOR:	 	 
	 
	 	 	 	 
	HOMELAND ENERGY SOLUTIONS, LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Steven K. Eastman	 	 
	 

	 	 

Steve Eastman, President of Homeland Energy Solutions,
LLC
	 	 
	 
	 	 	 	 
	By:

	 	/s/ Bernard Retterath	 	 
	 

	 	 

Bernard Retterath, Treasurer of Homeland Energy
Solutions, LLC
	 	 

 

 

 

ASSIGNMENT OF RENTS

					
	Loan No: 3787
	 	(Continued)
	 	Page 9

LIMITED LIABILITY COMPANY ACKNOWLEDGMENT

	 	 	 	 	 
	STATE OF Iowa 

	 	)	 	 
	 

	 	) SS

	COUNTY OF Chickasaw

	 	)	 	 

On this  23rd  day of March, A.D., 2007, before me, the undersigned Notary Public in said County and State, personally appeared Steve
Eastman, President; Bernard Retterath, Treasurer of Homeland Energy Solutions, LLC, to me
personally known, who being by me duly sworn, did say that they are one of the members or
designated agents of said limited liability company, and that the instrument was signed and sealed
on behalf of the limited liability company by authority of the limited liability company and the
members or designated agents acknowledged the execution of the instrument to be the voluntary act
and deed of the limited liability company by it and by the members or designated agents voluntarily
executed.

	 	 	 	 	 	 	 
	 

	 	/s/ Willis Hansen	 	 	 	 
	 

	 	 

Notary Public in the State of
	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	 

	 	[SEAL: Willis M. Hansen
	 	]	 	 
	 

	 	[ Commission Number 101788
	 	]	 	 
	 

	 	[My Comm. Exp. 021808
	 	]	 	 

 

 

 

EXHIBIT A

All that part of the Northwest Quarter lying North of the Chicago, Milwaukee and St. Paul Railroad
right-of-way in Section 12, Township 95 North, Range 12 West of the 5th P.M., Chickasaw County,
Iowa

Parcel A in the Northeast Fractional Quarter as shown on a plat of survey dated January 30, 2007 by
Daryl Eiffler and filed for record in Document No. 2007-0335 in the office of the Chickasaw County
Recorder also described as the South 104.63 acres of the Northeast Fractional Quarter and the
Northwest Quarter of the Southeast Quarter, and all that part of the East Half of the Southeast
Quarter lying North of the Chicago, Milwaukee, St. Paul and Pacific Railroad, all in Section 1,
Township 95 North, Range 12 West of the 5th P.M. in Chickasaw County, Iowa

The Southwest Quarter of the Southeast Quarter of Section 1 (except Railroad right of way and
except that part thereof deeded to State of Iowa by walTanty deed recorded in Book 70 at Page 407)
in Township 95 North, Range 12 West of the 5th P.M., Chickasaw County, Iowa

The South Half of the Southwest Quarter (except Railroad right-of-way and except Lot 1 of the
Southwest Quarter of the Southwest Quarter) of Section 1, Township 95 North, Range 12 West of the
5th P.M., Chickasaw County, Iowa

All that part of the East Half of Southeast Quarter lying South of the Chicago, Milwaukee and St.
Paul Railroad right of way in Section 1, Township 95 North, Range 12 West of the 5th
P.M., Chickasaw County, Iowa

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]