Document:

Phone (937)
276-3931   •   2875 Needmore
Road   •   Dayton, Ohio
45414   •   Fax (937) 276-2713

February 6, 2009

Bank of
America

Mr. Rick Hill

MA5-100-09-09

100 Federal Street, 9th
Floor

Boston, MA 02110

Dear Rick,

This letter
serves as notice that Rex Radio and Television, Inc., As The Lead Borrower,
wishes to terminate the Revolving Credit Commitment dated September 14, 2004 as
allowed for in Section 3.01 upon at least five (5) Business Days’ notice
(February 13, 2009). Please advise the date
the Agent Bank agrees to make the notice effective and any matters
needed to be settled. Please obtain executed mortgage releases on the Company real estate included in the Borrowing Base (list
attached) and have them available to us at your earliest opportunity.

Thank you for the many years of a great working relationship and we
hope we can do business together at a later date.

	
 

	
Sincerely,

	
 

	

	
Douglas L. Bruggeman
Chief Financial Officer

Enclosures
DB/kep

Appraised Values

Bank
of America

April 1, 2007

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Land

	
 

	
Market

	
 

	
Dark

	
 

	
Insurable

	
 

	
NBV

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
1

	
 

	
Needmore
 Rd

	
 

	
780,000

	
 

	
9,000,000

	
 

	
7,140,000

	
 

	
11,450,000

	
 

	
4,615,000 

	
 

	
25

	
 

	
Greenville
 MS

	
 

	
600,000

	
 

	
840,000

	
 

	
640,000

	
 

	
660,000

	
 

	
860,000
 

	
 

	
82

	
 

	
Ottumwa,
 Iowa

	
 

	
260,000

	
 

	
1,000,000

	
 

	
580,000

	
 

	
880,000

	
 

	
635,000 

	
 

	
127

	
 

	
Vicksburg
 MS

	
 

	
450,000

	
 

	
1,170,000

	
 

	
930,000

	
 

	
610,000

	
 

	
995,000
 

	
 

	
137

	
 

	
Meridian
 MS

	
 

	
400,000

	
 

	
1,300,000

	
 

	
1,040,000

	
 

	
660,000

	
 

	
965,000
 

	
 

	
138

	
 

	
Columbus
 MS

	
 

	
400,000

	
 

	
970,000

	
 

	
750,000

	
 

	
660,000

	
 

	
925,000
 

	
 

	
264

	
 

	
Monroe
 Ml

	
 

	
300,000

	
 

	
1,300,000

	
 

	
1,060,000

	
 

	
1,350,000

	
 

	
1,260,000 

	
 

	
290

	
 

	
Clinton,
 Iowa

	
 

	
400,000

	
 

	
1,250,000

	
 

	
1,010,000

	
 

	
880,000

	
 

	
960,000 

	
 

	
298

	
 

	
Troy OH

	
 

	
330,000

	
 

	
1,600,000

	
 

	
1,400,000

	
 

	
900,000

	
 

	
910,000
 

	
 

	
801

	
 

	
Needmore
 Rd (New

	
 

	
400,000

	
 

	
5,400,000

	
 

	
4,520,000

	
 

	
5,650,000

	
 

	
3,660,000 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
23,830,000

	
 

	
19,070,000FOURTH AMENDMENT TO CONSTRUCTION AND TERM

LOAN AGREEMENT

          THIS
FOURTH AMENDMENT TO CONSTRUCTION AND TERM LOAN AGREEMENT (this “Amendment”),
dated as of May 31, 2008, is executed by and among LEVELLAND/HOCKLEY COUNTY
ETHANOL, LLC, a Texas limited liability company (the “Borrower”), each
of the Lenders or other lending institutions which is a signatory hereto or any
successor or assignee thereof, and MERRILL LYNCH CAPITAL, a division of Merrill
Lynch Business Financial Services Inc., a Delaware corporation (in its capacity
as administrative agent for the Lenders, together with its successors in such
capacity, the “Administrative Agent”). 

R E C I T A L S:

          A.
The Borrower, the Lenders, and the Administrative Agent are parties to that
certain Construction and Term Loan Agreement, dated as of September 27, 2006,
as amended by (a) that certain First Amendment to Construction and Term Loan
Agreement and other Loan Documents dated as of August 10, 2007, (b) that
certain Second Amendment to Construction and Term Loan Agreement dated as of
February 15, 2008 and (c) that certain Third Amendment to Construction and Term
Loan Agreement dated as of February 19, 2008 (as has been and may be amended,
modified, supplemented or restated from time to time, the “Loan Agreement”).  

          B.
The Borrower, the Administrative Agent and the Lenders desire to amend the Loan
Agreement as described herein, subject to the terms and conditions contained
herein. 

          NOW,
THEREFORE, in consideration of the premises herein contained and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows intending to be legally
bound: 

ARTICLE I

Definitions

          Section
1.1 Definitions. Capitalized terms used in this Amendment, to the extent
not otherwise defined herein, shall have the same meanings as in the Loan
Agreement, as amended hereby. 

ARTICLE II

Amendments

          Section
2.1 Amendment to Section 6.3(b) of the Loan Agreement. Effective as of the date
hereof, Section 6.3(b) of the Loan Agreement is amended and restated in its
entirety to read as follows:  

	
 

	
 

	
 

	
          (b)
 Indebtedness under capital leases not to exceed $3,500,000 in the aggregate
 from time to time; 

Fourth Amendment to Construction and Term Loan Agreement – Page 1

ARTICLE III

Conditions Precedent

          Section
3.1 Condition. The effectiveness of this Amendment is subject to the
satisfaction of the following conditions precedent: 

	
 

	
 

	
 

	
          (a)
 Amendment. The Administrative Agent shall have received this Amendment
 executed by the Borrower, the Administrative Agent and the Required Lenders. 

	
 

	
 

	
 

	
          (b)
 No Default. No Default shall have occurred and be continuing. 

	
 

	
 

	
 

	
          (c)
 Representations and Warranties. All of the representations and warranties
 contained in Article IV of the Loan Agreement and in the other Loan Documents
 shall be true and correct on and as of the date of this Amendment with the
 same force and effect as if such representations and warranties had been made
 on and as of such date, except to the extent such representations and
 warranties speak to a specific date. 

ARTICLE IV

No Waiver

          Nothing
contained herein shall be construed as a consent by the Administrative Agent
and the Lenders to any breach of any covenant or provision of the Loan
Agreement, the other Loan Documents, this Amendment, or of any other contract
or instrument among Borrower, the Administrative Agent and the Lenders, and the
failure of the Administrative Agent or any Lender at any time or times hereafter
to require strict compliance by Borrower of any provision thereof shall not
waive, affect or diminish any right of the Administrative Agent and the Lenders
to thereafter demand strict compliance therewith. The Administrative Agent and
the Lenders hereby reserve all rights granted under the Loan Agreement and the
other Loan Documents (in each case as amended by this Amendment), and this
Amendment and any other contract or instrument among Borrower, the
Administrative Agent and the Lenders. 

ARTICLE V

Ratifications, Representations and Warranties

          Section
5.1 Ratifications. The terms and provisions set forth in this Amendment
shall modify and supersede all inconsistent terms and provisions set forth in
the Loan Agreement and the other Loan Documents and except as expressly
modified and superseded by this Amendment, the terms and provisions of the Loan
Agreement and the other Loan Documents are ratified and confirmed and shall
continue in full force and effect. The Borrower, the Administrative Agent and
the Lenders agree that the Loan Agreement as amended hereby shall continue to
be legal, valid, binding and enforceable in accordance with its terms, except
as enforceability may be limited by bankruptcy and other similar laws affecting
the rights of creditors generally. 

Fourth Amendment to Construction and Term Loan Agreement – Page 2

          Section
5.2 Representations and Warranties. The Borrower hereby represents and
warrants to the Administrative Agent and the Lenders that (i) the execution,
delivery and performance of this Amendment and any and all other Loan Documents
executed or delivered in connection herewith have been authorized by all
requisite action on the part of the Borrower and will not violate the articles
of organization, operating agreement or regulations or other organizational
documents of the Borrower, (ii) the representations and warranties contained in
the Loan Agreement, as such Loan Agreement is amended hereby, and any other
Loan Document are true and correct on and as of the date hereof as though made
on and as of the date hereof except for those that relate solely to a specific
date or have changed as a result of transactions permitted by the Loan
Agreement, (iii) after giving effect to this Amendment, no Default has occurred
and is continuing, and (iv) after giving effect to this Amendment, the Borrower
is in full compliance with all material covenants and agreements contained in
the Loan Agreement as amended hereby. 

ARTICLE VI

Miscellaneous 

          Section
6.1 Survival of Representations and Warranties. All representations and
warranties made in this Amendment or any other Loan Document (as amended by
this Amendment), including any Loan Document furnished in connection with this
Amendment, shall survive the execution and delivery of this Amendment and such
other Loan Documents, and no investigation by the Administrative Agent or any
Lender shall affect the representations and warranties or the right of the
Administrative Agent or any Lender to rely upon them. 

          Section
6.2 Severability. Any provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or
invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provision so held to be invalid or unenforceable. 

          Section
6.3 GOVERNING LAW. THIS LOAN
AGREEMENT, THE NOTE AND, UNLESS OTHERWISE EXPRESSLY PROVIDED THEREIN, EACH OF
THE OTHER LOAN DOCUMENTS, SHALL BE GOVERNED IN ALL RESPECTS BY THE LAWS OF THE
STATE OF ILLINOIS, NOT INCLUDING ITS CONFLICT OF LAW PROVISIONS; PROVIDED THAT
THE LAWS OF THE STATE WHERE REAL PROPERTY COLLATERAL IS LOCATED SHALL GOVERN
WITH RESPECT TO THE CREATION, PERFECTION AND ENFORCEMENT OF RIGHTS, SECURITY
INTERESTS, REMEDIES AND LIENS AGAINST THE REAL PROPERTY COLLATERAL.

          Section
6.4 Successors and Assigns. This Amendment is binding upon and shall
inure to the benefit of the Administrative Agent, the Lenders and the Borrower
and their respective successors and assigns, except the Borrower may not assign
or transfer its rights or obligations hereunder without the prior written
consent of the Administrative Agent and the Lenders. 

          Section
6.5 Counterparts. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original,
but all of which

Fourth Amendment to Construction and Term Loan Agreement – Page 3

when taken
together shall constitute one and the same instrument. Facsimiles of signatures
shall be binding and effective as originals. 

          Section
6.6 Effect of Waiver. No consent or waiver, express or implied, by the
Administrative Agent or any Lender to or for any breach of or deviation from
any covenant, condition or duty by the Borrower shall be deemed a consent or
waiver to or of any other breach of the same or any other covenant, condition
or duty. 

          Section
6.7 Headings. The headings, captions, and arrangements used in this
Amendment are for convenience only and shall not affect the interpretation of
this Amendment. 

          Section
6.8 ENTIRE AGREEMENT. THIS AMENDMENT, THE LOAN AGREEMENT AND THE OTHER
LOAN DOCUMENTS EMBODY THE FINAL, ENTIRE AGREEMENT BETWEEN THE PARTIES HERETO
RELATING TO THIS AMENDMENT AND SUPERSEDE ANY AND ALL PRIOR AND CONTEMPORANEOUS
COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR
ORAL, RELATING TO THIS AMENDMENT, AND MAY NOT BE CONTRADICTED OR VARIED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS
OF THE PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES HERETO.

[Remainder of Document Intentionally Left
Blank]

Fourth Amendment to Construction and Term Loan Agreement – Page 4

          IN
WITNESS WHEREOF, this Amendment is executed as of the date first set forth
above. 

	
 

	
 

	
 

	
 

	
BORROWER:

	
 

	
 

	
 

	
 

	
LEVELLAND/HOCKLEY
 COUNTY ETHANOL, LLC 

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
James P.
 Halbert

	
 

	
 

	
Vice
 President

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

	
 

	
 

	
 

	
 

	
ADMINISTRATIVE AGENT AND LENDER:

	
 

	
 

	
 

	
 

	
MERRILL LYNCH
 CAPITAL, a division of Merrill Lynch Business Financial Services Inc., as
 Administrative Agent and a Lender

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Steve Coley

	
 

	
 

	
Vice
 President, Group Credit Manager

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

	
 

	
 

	
 

	
 

	
 

	
 

	
OTHER LENDERS:

	
 

	
 

	
 

	
 

	
STATE BANK
 OF TEXAS,

	
 

	
as a Lender

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	

	

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

	
 

	
 

	
 

	
 

	
 

	
 

	
PALM DESERT
 NATIONAL BANK,

	
 

	
as a Lender

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	

	

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

	
 

	
 

	
 

	
 

	
 

	
 

	
COMMUNITY
 FIRST BANK,

	
 

	
as a Lender

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	

	

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

	
 

	
 

	
 

	
 

	
 

	
 

	
MIDWEST BANK
 OF WESTERN ILLINOIS,

	
 

	
as a Lender

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	

	

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

	
 

	
 

	
 

	
 

	
 

	
 

	
TEXAS
 CITIZENS BANK N.A.,

	
 

	
as a Lender

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	

	

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

	
 

	
 

	
 

	
 

	
 

	
 

	
INTERSTATE
 BANK, SSB,

	
 

	
as a Lender

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	

	

Signature Page to Fourth Amendment to Construction and Term Loan Agreement

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