Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.19

DISBURSEMENT REQUEST AND AUTHORIZATION

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	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

LOAN TYPE. This is a Fixed Rate (8.250%1 Nondisclosable Loan to a Limited Liability
Company for $3,517,572.00 due on March 23, 2008.

PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for:

o Personal, Family, or Household Purposes or Personal Investment.

þ Business (Including Real Estate Investment).

SPECIFIC PURPOSE. The specific purpose of this loan is: Term loan.

DISBURSEMENT INSTRUCTIONS. Borrower understands that no loan proceeds will be disbursed until
all of Lender’s conditions for making the loan have been satisfied. Please disburse the loan
proceeds of $3,517,572.00 as follows:

	 	 	 	 	 
	Other Disbursements:
	 	$	3,500,000.00	 
	$3,500,000.00
	 	 	 	 
	 
	 	 	 	 
	Other Charges Financed:
	 	$	72.00	 
	$72.00 Mortgage Fee
	 	 	 	 
	 
	 	 	 	 
	Total Financed Prepaid Finance Charges:
	 	$	17,500.00	 
	$17,500.00 Origination Fee
	 	 	 	 
	 
	 	 	 
	 
	 	 	 	 
	Note Principal:
	 	$	3,517,572.00	 

BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS DISBURSEMENT REQUEST AND
AUTHORIZATION AND ALL OTHER DOCUMENTS RELATING TO THIS DEBT.

FINANCIAL CONDITION. BY SIGNING THIS AUTHORIZATION, BORROWER REPRESENTS AND WARRANTS TO
LENDER THAT THE INFORMATION PROVIDED ABOVE IS TRUE AND CORRECT AND THAT THERE HAS BEEN NO
MATERIAL ADVERSE CHANGE IN BORROWER’S FINANCIAL CONDITION AS DISCLOSED IN BORROWER’S MOST
RECENT FINANCIAL STATEMENT TO LENDER. THIS AUTHORIZATION IS DATED MARCH 23, 2007.

	 	 	 	 	 	 	 	 	 
	BORROWER:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	HOMELAND ENERGY SOLUTIONS, LLC	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

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

	 	 

Steve Eastman, President of Homeland Energy
Solutions, LLC
	 	 	 	 

Bernard Retterath, Treasurer of Homeland Energy
Solutions, LLCFiled by Bowne Pure Compliance

 

Exhibit 10.20

LIMITED LIABILITY COMPANY RESOLUTION TO BORROW / GRANT COLLATERAL

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	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.

	 	 	 	 	 	 	 	 	 
	Company:

	 	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

WE, THE UNDERSIGNED, DO HEREBY CERTIFY THAT:

THE COMPANY’S EXISTENCE. The complete and correct name of the Company is Homeland Energy
Solutions, LLC (“Company”). The Company is a limited liability company which is, and at all
times shall be, duly organized, validly existing, and in good standing under and by virtue of
the laws of the State of Iowa. The Company is duly authorized to transact business in all
other states in which the Company is doing business, having obtained all necessary filings,
governmental licenses and approvals for each state in which the Company is doing business,
Specifically, the Company is, and at all times shall be, duly qualified as a foreign limited
liability company in all states in which the failure to so qualify would have a material
adverse effect on its business or financial condition. The Company has the full power and
authority to own its properties and to transact the business in which it is presently engaged
or presently proposes to engage. The Company maintains an office at 106 W Main, PO Box C,
Riceville, IA 50466. Unless the Company has designated otherwise in writing, the principal
office is the office at which the Company keeps its books and records. The Company will notify
Lender prior to any change in the location of The Company’s state of organization or any
change in The Company’s name. The Company shall do all things necessary to preserve and to
keep in full force and effect its existence, rights and privileges, and shall comply with all
regulations, rules, ordinances, statutes, orders and decrees of any governmental or
quasi-governmental authority or court applicable to the Company and The Company’s business
activities.

RESOLUTIONS ADOPTED. At a meeting of the members of the Company, duly called and held
on March 23, 2007, at which a quorum was present and voting, or by other duly authorized
action in lieu of a meeting, the resolutions set forth in this Resolution were adopted.

MEMBERS. The following named persons are members of Homeland Energy Solutions, LLC:

	 	 	 	 	 	 	 
	NAMES	 	TITLES	 	AUTHORIZED	 	ACTUAL SIGNATURES
	Steve Eastman

	 	President
	 	Y
	X	/s/ Stephen K. Eastman
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Bernard Retterath

	 	Treasurer
	 	Y
	X	/s/ Bernard Retterath
	 

	 	 	 	 	 	 

ACTIONS AUTHORIZED. Any two (2) of the authorized persons listed above may enter into any
agreements of any nature with Lender, and those agreements will bind the Company.
Specifically, but without limitation, any two (2) of such authorized persons are authorized,
empowered, and directed to do the following for and on behalf of the Company:

Borrow Money. To borrow, as a cosigner or otherwise, from time to time from Lender, on such
terms as may be agreed upon between the Company and Lender, such sum or sums of money as in
their judgment should be borrowed, without limitation.

Execute Notes. To execute and deliver to Lender the promissory note or notes, or other
evidence of the Company’s credit accommodations, on Lender’s forms, at such rates of
interest and on such terms as may be agreed upon, evidencing the sums of money so borrowed
or any of the Company’s indebtedness to Lender, and also to execute and deliver to Lender
one or more renewals, extensions, modifications, refinancings, consolidations, or
substitutions for one or more of the notes, any portion of the notes, or any other evidence
of credit accommodations.

Grant Security. To mortgage, pledge, transfer, endorse, hypothecate, or otherwise encumber
and deliver to Lender any property now or hereafter belonging to the Company or in which
the Company now or hereafter may have an interest, including without limitation all of the
Company’s real property and all of the Company’s personal property (tangible or
intangible), as security for the payment of any loans or credit accommodations so obtained,
any promissory notes so executed (including any amendments to or modifications, renewals,
and extensions of such promissory notes), or any other or further indebtedness of the
Company to Lender at any time owing, however the same may be evidenced, Such property may
be mortgaged, pledged, transferred, endorsed, hypothecated or encumbered at the time such
loans are obtained or such indebtedness is incurred, or at any other time or times, and may
be either in addition to or in lieu of any property theretofore mortgaged, pledged,
transferred, endorsed, hypothecated or encumbered.

Execute Security Documents. To execute and deliver to Lender the forms of mortgage, deed of
trust, pledge agreement, hypothecation agreement, and other security agreements and
financing statements which Lender may require and which shall evidence the terms and
conditions under and pursuant to which such liens and encumbrances, or any of them, are
given; and also to execute and deliver to Lender any other written instruments, any chattel
paper, or any other collateral, of any kind or nature, which Lender may deem necessary or
proper in connection with or pertaining to the giving of the liens and encumbrances.
Notwithstanding the foregoing, any one of the above authorized persons may execute,
deliver, or record financing statements.

Negotiate Items. To draw, endorse, and discount with Lender all drafts, trade acceptances,
promissory notes, or other evidences of indebtedness payable to or belonging to the Company
or in which the Company may have an interest, and either to receive cash for the same or to
cause such proceeds to be credited to the Company’s account with Lender, or to cause such
other disposition of the proceeds derived therefrom as they may deem advisable.

Further Acts. In the case of lines of credit, to designate additional or alternate
individuals as being authorized to request advances under such lines, and in all cases, to
do and perform such other acts and things, to pay any and all fees and costs, and to
execute and deliver such other documents and agreements as the members may in their
discretion deem reasonably necessary or proper in order to carry into effect the provisions
of this Resolution.

ASSUMED BUSINESS NAMES. The Company has filed or recorded all documents or filings required by
law relating to all assumed business names used by the Company. Excluding the name of the
Company, the following is a complete list of all assumed business names under which the
Company does business: None.

 

 

 

LIMITED LIABILITY COMPANY RESOLUTION TO BORROW / GRANT COLLATERAL

					
	Loan No: 3787
	 	(Continued)
	 	Page 2

NOTICES TO LENDER. The Company will promptly notify Lender in writing at Lender’s address
shown above (or such other addresses as Lender may designate from time to time) prior to any
(A) change in the Company’s name; (B) change in the Company’s assumed business name(s); (C)
change in the management or in the Members of the Company; ID) change in the authorized
signer(s); (E) change in the Company’s principal office address; (F) change in the Company’s
state of organization; (GI conversion of the Company to a new or different type of business
entity; or (H) change in any other aspect of the Company that directly or indirectly relates
to any agreements between the Company and Lender. No change in the Company’s name or state of
organization will take effect until after Lender has received notice.

CERTIFICATION CONCERNING MEMBERS AND RESOLUTIONS. The members named above are duly elected,
appointed, or employed by or for the Company, as the case may be, and occupy the positions set
opposite their respective names. This Resolution now stands of record on the books of the
Company, is in full force and effect, and has not been modified or revoked in any manner
whatsoever.

CONTINUING VALIDITY. Any and all acts authorized pursuant to this Resolution and performed
prior to the passage of this Resolution are hereby ratified and approved. This Resolution
shall be continuing, shall remain in full force and effect and Lender may rely on it until
written notice of its revocation shall have been delivered to and received by Lender at
Lender’s address shown above (or such addresses as Lender may designate from time to time).
Any such notice shall not affect any of the Company’s agreements or commitments in effect at
the time notice is given.

IN TESTIMONY WHEREOF, we have hereunto set our hand and attest that the signatures set
opposite the names listed above are their genuine signatures.

We each have read all the provisions of this Resolution, and we each personally and on behalf
of the Company certify that all statements and representations made in this Resolution are
true and correct, This Limited Liability Company Resolution to Borrow / Grant Collateral is
dated March 23, 2007. We acknowledge receipt of a completed copy of this Limited Liability
Company Resolution to Borrow / Grant Collateral.

	 	 	 	 	 	 	 
	 	 	CERTIFIED TO AND ATTESTED BY:	 	 
	 
	 	 	 	 	 	 
	 

	 	X
	 	/s/ Stephen K. Eastman	 	 
	 

	 	 	 	 

Steve Eastman, President of Homeland Energy
Solutions, LLC
	 	 
	 
	 	 	 	 	 	 
	 

	 	X
	 	/s/ Bernard Retterath	 	 
	 

	 	 	 	 

Bernard Retterath, Treasurer of
Homeland Energy Solutions, LLC
	 	 

NOTE: If the members signing this Resolution are designated by the foregoing document as
one of the members authorized to act on the Company’s behalf, it is advisable to have this
Resolution signed by at least one non-authorized member of the Company.

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