Document:

EXHIBIT 10.1

                                 PROMISSORY NOTE

$3,000,000.00                                                November ____, 2001

       FOR VALUE RECEIVED, United Financial Corp. (the "Borrower") promises to
pay on October 30, 2002 (the "Maturity") to the order of Wells Fargo Bank
Minnesota, National Association ("Wells Fargo"), at its principal office or
such other address as Wells Fargo or holder may designate from time to time, the
principal sum of Three Million and N0/100 Dollars ($3,000,000.00), or the amount
shown on Wells Fargo's records to be outstanding, plus interest (calculated on
the basis of actual days elapsed in a 360-day year) accruing each day on the
unpaid principal balance at the annual interest rate defined below. Absent
manifest error, Wells Fargo's records shall be conclusive evidence of the
principal and accrued interest owing hereunder.

       INTEREST. The outstanding principal balance of this Promissory Note (the
"Note") shall bear interest at a rate per annum One and Seventy Five-Tenths
Percent (1.75%) above the Fed Funds Rate in effect from time to time. The term
"Fed Funds Rate" means a fluctuating interest rate per annum set by Wells Fargo
at approximately noon each business day as the rate at which funds are offered
to Wells Fargo by Federal funds brokers. Borrower understands and agrees that
Wells Fargo may base its quotation upon recognized market sources, including
such quotes as are received by Wells Fargo from Federal funds brokers of
recognized standing selected by it.

       INTEREST PAYMENTS. Interest shall be payable in quarterly installments
commencing on November 30, 2001, and continuing on the last day of February
2002, May 2002, August 2002, and upon Maturity when all remaining unpaid,
accrued interest shall be payable in full.

       PRINCIPAL PAYMENTS. Principal of the Note remaining on Maturity shall be
payable in full. Any principal paid or repaid prior to Maturity may be
reborrowed.

       EFFECTIVE DATE. This Note shall be deemed effective as of October 30,
2001.

       ADDITIONAL TERMS AND CONDITIONS. This Note is issued pursuant to that
certain Letter Agreement dated November 17, 1999, as amended by a First
Amendment To Letter Agreement dated September 29, 2000, and by a Second
Amendment To Letter Agreement of even date herewith between the Borrower and
Wells Fargo (the "Agreement"). The Agreement, and any amendments or
substitutions, contains additional terms and conditions, including default and
acceleration provisions, which are incorporated into this Note by reference.
This Note shall be secured by the Collateral referenced in the Agreement.
Capitalized terms not expressly defined herein shall have the meanings given
them in the Agreement. The holder hereof may change any terms of payment of
this Note, including extensions of time and renewals, and release any security
for, or any party to, this Note, without notifying or releasing any
accommodation party, endorser or guarantor from liability in connection with
this Note. The Borrower agrees to pay all costs of collection, including
reasonable attorneys' fees and legal expenses incurred by Wells Fargo if this
Note is not paid as provided above. This Note shall be governed by the
substantive laws of the State of Minnesota.

       WAIVER OF PRESENTMENT AND NOTICE OF DISHONOR. Borrower and any other
person who signs, guarantees or endorses this Note, to the extent allowed by
law, hereby waives presentment, demand for payment, notice of dishonor, protest,
and any notice relating to the acceleration of the maturity of this Note.

UNITED FINANCIAL CORP.

By: /s/ Kurt R. Weise
    -------------------------

Its: President & CEO
     ---------------EXHIBIT 10.2

                      SECOND AMENDMENT TO LETTER AGREEMENT

THIS SECOND AMENDMENT TO LETTER AGREEMENT (the "Second Amendment") is made on
the 16th day of November, 2001, and is by and between United Financial Corp., a
Minnesota corporation (the "Borrower"), and Wells Fargo Bank Minnesota, National
Association, a national banking association ("Wells Fargo").

REFERENCE IS HEREBY MADE to that certain letter loan agreement dated November
17, 1999, as amended by a First Amendment to Letter Agreement dated September
29, 2000 (as amended, the "Agreement"), made between the Borrower and Wells
Fargo. Capitalized terms not otherwise defined herein shall have the respective
meanings ascribed to them in the Agreement.

WHEREAS, pursuant to the provisions of the Agreement, Wells Fargo is the holder
of that certain revolving promissory note dated September 29, 2000, in the face
amount of $3,000,000.00, made by the Borrower and payable to Wells Fargo (the
"Note");

WHEREAS, the Borrower has requested Wells Fargo to renew the Line and
correspondingly the Note from October 30, 2001 to October 30, 2002; and,

WHEREAS, Wells Fargo is willing to grant the Borrower's request, subject to the
provisions of this Second Amendment;

NOW, THEREFORE, in consideration of the premises and for other valuable
consideration received, it is agreed as follows:

       1.     The first sentence of Section 1 of the Agreement is hereby amended
              so that, when read in its entirety, it provides as follows:

                     "From time to time until October 30, 2002 (the "Termination
                     Date") the Borrower may request advances under the Line in
                     an aggregate principal amount not exceeding $3,000,000.00,
                     at any one time outstanding."

       2.     Simultaneously with the execution of this Second Amendment, the
              Borrower shall execute and deliver to Wells Fargo, in form and
              content acceptable to Wells Fargo, a new promissory note (which,
              for purposes of this Second Amendment only, shall be referred to
              herein as the "New Note") in the face amount of $3,000,000.00.
              Upon the execution and delivery to Wells Fargo of the New Note,
              the outstanding principal of, and accrued but unpaid interest on,
              the Note shall be deemed, respectively, the outstanding principal
              balance of, and accrued but unpaid interest on, the New Note. The
              New Note shall replace, but shall not be deemed payment or
              satisfaction of the Note. All references in the Loan Agreement to
              the "Note" shall be deemed to mean the New Note as modified
              herein.

       3.     The Borrower hereby represents and warrants to Wells Fargo as
              follows:

              A.     As of the date of this Second Amendment, the outstanding
                     principal balance of the Note is $1,000,000.00.

              B.     The Agreement, Note and New Note constitute valid, legal
                     and binding obligations owed by the Borrower to Wells
                     Fargo, subject to no counterclaim, defense, offset,
                     abatement or recoupment.

<PAGE>

United Financial Corp.
Second Amendment To Letter Agreement
Effective date: October 30, 2001

              C.     As of the date of this Second Amendment, (i) the
                     representations and warranties set forth in Subsections A,
                     E and G of the Section 9 of the Agreement are each true;
                     and (ii) there exists no Event of Default under the
                     Agreement, nor does there exist any event which, with the
                     giving of notice or the passage of time, or both, could
                     become such an Event of Default.

              D.     The execution, delivery and performance of this Second
                     Amendment and the New Note by the Borrower are within its
                     corporate powers, have been duly authorized, and are not in
                     contravention of law or the terms of the Borrower's
                     Articles of Incorporation or By-laws, or of any undertaking
                     to which the Borrower is a party or by which it is bound.

              E.     All financial statements delivered to Wells Fargo by or on
                     behalf of the Borrower, including any schedules and notes
                     pertaining thereto, have been prepared in accordance with
                     Generally Accepted Accounting Principles consistently
                     applied, and fully and fairly present the financial
                     condition of the Borrower at the dates thereof and the
                     results of operations for the periods covered thereby, and
                     there have been no material adverse changes in the
                     financial condition or business of the Borrower from
                     December 31, 2000, to the date hereof.

       4.     Upon request, the Borrower shall deliver to Wells Fargo a
              Corporate Certificate of Authority as of the date of this Second
              Amendment, and in form and content acceptable to Wells Fargo.

       5.     This Second Amendment shall be deemed effective as of October 30,
              2001.

       6.     Except as expressly modified by this Second Amendment, the
              Agreement remains unchanged and in full force and effect.

IN WITNESS WHEREOF, the Borrower and Wells Fargo have executed this Second
Amendment on the date first written above. Without limiting the generality of
the foregoing, all indebtedness under the Line shall continue to be secured by
that certain Security Agreement/Collateral Pledge Agreement executed by the
Borrower and dated November 18, 1999, which has been duly executed by the
Borrower for the benefit of Wells Fargo, and which remains unchanged and in full
force and effect.

UNITED FINANCIAL CORP.                     WELLS FARGO BANK MINNESOTA,
                                             NATIONAL ASSOCIATION

By: /s/ Kurt R. Weise                       By: /s/ Michael E. Bodeen
    ---------------------                       ---------------------

Its: President & CEO                       Its: Vice President
     ---------------                            --------------

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