Document:

EXHIBIT 10.3

                                    GUARANTY

TO:      JOHN DEERE CONSTRUCTION EQUIPMENT COMPANY

         DEERE CREDIT, INC.

         JOHN DEERE COMPANY, A DIVISION OF DEERE & CO.

         6400 NW 86TH STREET

         JOHNSTON, IOWA 50131-6600

In consideration of your extension of credit to RDO Construction Equipment Co.,
a North Dakota corporation, and RDO Agriculture Equipment Co., a North Dakota
corporation, their successors and assigns (collectively referred to as the
"Debtor"), pursuant to a Amended and Restated Loan Agreement executed
contemporaneously herewith, the undersigned unconditionally guarantees payment
of whatever sums the Debtor shall at any time owe you, your successors or
assigns or any company affiliated with you, whenever incurred (including
subsequent to the date of this Guaranty), including interest, finance charges,
or service charges thereon, and including reasonable attorneys' fees and all
court costs incurred in collecting such sums (such amounts are referred to as
the "Indebtedness"). You shall be under no obligation to pursue or exhaust any
of your remedies against the principal debtor, any other obligor or any other
guarantor(s), or of enforcing any rights against any collateral for said
indebtedness prior to enforcing payment hereunder by the undersigned guarantors.

This is a guarantee of payment and not of collection, and Guarantor agrees that
you shall not be obligated prior to seeking recourse against or receiving
payment from Guarantor, to do any of the following (although you may do so, in
whole or in part, at its sole option), the performance of which are
unconditionally waived by Guarantor:

     (a)  Take any steps to collect the Indebtedness from Debtor or to file any
          claim of any kind against Debtor; or

     (b)  Take any steps to enforce, accept, perfect your interest in, foreclose
          upon, or realize on any collateral security for the payment of the
          Indebtedness or any other guaranty of the Indebtedness; or

     (c)  Take any steps to collect the Indebtedness from any other guarantor or
          to file any claim of any kind against such other guarantors; or

     (d)  In any other respect exercise any diligence whatever in collecting or
          attempting to collect the Indebtedness by any means.

Guarantor's liability for payment of the Indebtedness shall be absolute and
unconditional, and nothing except full payment to you of all of the Indebtedness
shall operate to discharge Guarantor's liability under this Guaranty. Guarantor
unconditionally and irrevocably waives each and every defense that under
principles of guaranty or suretyship law would otherwise operate to impair or
diminish the liability of Guarantor for the Indebtedness. Without limiting the
generality of the foregoing waiver, Guarantor agrees that none of the following
acts, omissions, or occurrences shall diminish or impair the liability of
Guarantor in any respect (all of which acts, omissions or occurrences may be
done without notice to Guarantor):

     (a)  Any extension, modification, indulgence, compromise, settlement, or
          variation of any of the terms of the Indebtedness;

                                       47
<PAGE>

     (b)  The discharge or release of any obligations of the Debtor or of any
          other person now or hereafter liable on the Indebtedness by reason of
          bankruptcy or insolvency laws or otherwise;

     (c)  The acceptance or release by you of any collateral security or any
          other Guaranty, or any settlement, compromise or extension with
          respect to any collateral security or other Guaranty;

     (d)  The application or allocation by you of payments, collections, or
          credits on the Indebtedness or any other obligations of the Debtor to
          you;

     (e)  The creation of any new Indebtedness by Debtor;

     (f)  The making of demand, or absence of demand, for payment of the
          Indebtedness, or giving, or failing to give, any notice of dishonor or
          protest, or any other notice.

     Guarantor unconditionally waives:

     (a)  Any subrogation to your rights against Debtor until the indebtedness
          has been paid in full;

     (b)  Any set-off or counterclaims against you which would impair or affect
          your rights against Guarantor;

     (c)  Any defenses related to the validity or enforceability of any
          documentation executed by Debtor or by Guarantor in connection with
          the Indebtedness.

This guaranty is to take effect without notice of its acceptance, which notice
is waived, and is to be a continuing guaranty in full force and effect until the
effective date of a written notice of revocation delivered to you either
personally or by Registered or Certified Mail. It is understood and agreed that
the effective date of any such revocation shall be 90 days after your receipt of
such notice, and that such revocation shall not discharge the obligation of the
undersigned guarantor(s) with respect to indebtedness incurred by the principal
debtor prior to said effective date of revocation.

The undersigned guarantor consents and agrees that your books and records
showing the account, obligations, and indebtedness of the principal debtor shall
be admissible in evidence and shall be binding upon the undersigned guarantor
for the purpose of establishing the items set forth, and shall constitute prima
facie proof.

The foregoing constitutes the complete guaranty agreement, there being no other
representations or warranties made, and such guaranty cannot be altered, changed
or amended in any way except by an instrument in writing signed by your duly
authorized officer.

This Guaranty and all rights and obligations hereunder, including matters of
construction, validity and performance, shall be governed by the laws of the
State of Iowa.

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<PAGE>

THIS GUARANTY IS FREELY AND VOLUNTARILY GIVEN TO YOU BY GUARANTOR, WITHOUT
DURESS OR COERCION, AND AFTER GUARANTOR HAS EITHER CONSULTED WITH LEGAL COUNSEL
OR HAS BEEN GIVEN AN OPPORTUNITY TO DO SO, AND GUARANTOR HAS FULLY AND CAREFULLY
READ AND UNDERSTANDS ALL OF THE TERMS AND PROVISIONS OF THIS GUARANTY.

RDO Equipment Co.

By: /s/ Thomas K. Espel
    --------------------------------

Title: /s/ Treasurer
       -----------------------------

Date: 8/7/00
      ------------------------------

                                       49<PAGE>

             ALLMERICA FINANCIAL LIFE INSURANCE AND ANNUITY COMPANY

                       ENHANCED DEATH BENEFIT "EDB" RIDER

OVERVIEW:

The EDB Rider ("Rider") is an optional rider the Owner has selected. It provides
an enhanced Death Benefit, which guarantees [7%] growth, has an investment cap
and provides a ratchet.

APPLICABILITY:

The Rider is made a part of the contract to which it is attached and is
effective on the issue date.

BENEFIT:

The "Death Benefit" provision on [page XX] of the contract is replaced by the
following:

I.       If an Owner, or an Annuitant if the Owner is a non-natural person, dies
         before the Annuity Date and before his/her [90th] birthday, the Death
         Benefit will be the greatest of:

         (a)      the Accumulated Value on the Effective Valuation Date
                  increased for any positive Market Value Adjustment ("MVA");

         (b)      gross payments accumulated daily at the "EDB Effective Annual
                  Yield" shown on the Specifications page, starting on the
                  Effective Valuation Date of each gross payment and ending on
                  the date of death, proportionately reduced for subsequent
                  withdrawals; and

         (c)      the highest Accumulated Value on any contract anniversary
                  prior to the date of death, as determined after being
                  increased for any positive MVA and subsequent payments and
                  proportionately reduced for subsequent withdrawals.

Investment Cap - The value determined in section (b) above cannot exceed [200%]
of gross payments, proportionately reduced for subsequent withdrawals.

II.      If an Owner, or an Annuitant if the Owner is a non-natural person, dies
         before the Annuity Date but after his/her [90th] birthday, the Death
         Benefit will be the greater of:

         (a)      the Accumulated Value on the Effective Valuation Date
                  increased for any positive MVA; or

         (b)      the Death Benefit, as calculated under Section I, that would
                  have been payable on the contract anniversary prior to the
                  deceased's [90th] birthday, increased for subsequent payments
                  and proportionately reduced for subsequent withdrawals.

PROPORTIONATE REDUCTION:

Sections I(b), I(c) and II(b) refer to a proportionate reduction. This
proportionate reduction is calculated by multiplying the (b) or (c) value,
whichever is applicable, determined immediately prior to the withdrawal by the
following:

                            Amount of the Withdrawal
                            ------------------------
        Accumulated Value determined immediately prior to the withdrawal

FORM 3290-00

<PAGE>

CHARGE FOR BENEFIT:

While this Rider is in effect, the Company will assess the EDB Charge (see
Specifications page).

TERMINATION:

This Rider will terminate on the earliest of the following:

        (a) the Annuity Date;

        (b) when a Death Benefit is payable and the contract is not continued
            under a spousal takeover; or

        (c) surrender of the contract.

                   Signed for the Company at Dover, Delaware

        President                                                      Secretary

FORM 3290-00<PAGE>

             ALLMERICA FINANCIAL LIFE INSURANCE AND ANNUITY COMPANY

                       ENHANCED DEATH BENEFIT "EDB" RIDER

OVERVIEW:

The EDB Rider ("Rider") is an optional rider the Owner has selected. It provides
an enhanced Death Benefit, which guarantees [7%] growth and has an investment
cap.

APPLICABILITY:

The Rider is made a part of the contract to which it is attached and is
effective on the issue date.

BENEFIT:

The "Death Benefit" provision on [page XX] of the contract is replaced by the
following:

I.       If an Owner, or an Annuitant if the Owner is a non-natural person, dies
         before the Annuity Date and before his/her [90th] birthday, the Death
         Benefit will be the greater of:

         (a)      the Accumulated Value on the Effective Valuation Date
                  increased for any positive Market Value Adjustment ("MVA"); or

         (b)      gross payments accumulated daily at the "EDB Effective Annual
                  Yield" shown on the Specifications page, starting on the
                  Effective Valuation Date of each gross payment and ending on
                  the date of death, proportionately reduced for subsequent
                  withdrawals.

Investment Cap - The value determined in section (b) above cannot exceed [200%]
of gross payments, proportionately reduced for subsequent withdrawals.

II.      If an Owner, or an Annuitant if the Owner is a non-natural person, dies
         before the Annuity Date but after his/her [90th] birthday, the death
         benefit will be the greater of:

         (a)      the Accumulated Value on the Effective Valuation Date
                  increased for any positive MVA; or

         (b)      the Death Benefit, as calculated under Section I, that would
                  have been payable on the contract anniversary prior to the
                  deceased's [90th] birthday, increased for subsequent payments
                  and proportionately reduced for subsequent withdrawals.

PROPORTIONATE REDUCTION:

Sections I(b) and II(b) refer to a proportionate reduction. This proportionate
reduction is calculated by multiplying the (b) value, determined immediately
prior to the withdrawal by the following:

                            Amount of the Withdrawal
                            -------------------------
        Accumulated Value determined immediately prior to the withdrawal

FORM 3288-00

<PAGE>

CHARGE FOR BENEFIT:

While this Rider is in effect, the Company will assess the EDB Charge (see
Specifications page).

TERMINATION:

This Rider will terminate on the earliest of the following:

        (a) the Annuity Date;

        (b) when a Death Benefit is payable and the contract is not continued
            under a spousal takeover; or

        (c) surrender of the contract.

                    Signed for the Company at Dover, Delaware

        President                                                      Secretary

FORM 3288-00

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