Document:

EXHIBIT
10.5

 

REVOLVING CREDIT LOAN NOTE

 

	
  $5,000,000.00

  	
   

  	
  May 9,
  2008

  

 

For
value received, the undersigned, BLACKHAWK BIOFUELS, LLC, a Delaware limited
liability company (“Borrower”), promises to pay to the order of FIFTH THIRD
BANK, a  Michigan banking corporation (“Lender”),
in lawful money of the United States of America, the principal sum of Five
Million and 00/100 Dollars ($5,000,000.00), or if less, the principal amount
advanced and/or re-advanced from time to time pursuant to the Loan Agreement
(as hereinafter defined) and outstanding hereunder, together with interest from
the date hereof at the rate provided for herein.

 

This
Revolving Credit Loan Note (the “Note”) is given for one or more advances to be
made by the Lender to the Borrower and is the Revolving Credit Loan Note
referred to in, and is issued pursuant to, that certain Loan Agreement between
Borrower and Lender dated of even date herewith (as amended or otherwise
modified from time to time, the “Loan Agreement”), and is entitled to all of the
benefits and security of the Loan Agreement. 
All of the terms, covenants and conditions of the Loan Agreement and all
other instruments evidencing or securing the indebtedness hereunder are hereby
made a part of this Note and are deemed incorporated herein in full.  All capitalized terms used herein, unless
otherwise specifically defined in this Note, shall have the meanings ascribed
to them in the Loan Agreement.

 

Interest
hereunder shall (i) accrue on the principal amount outstanding at the end
of each day at a variable rate per
annum as set forth in Section 3.1 of the Loan Agreement and (ii) be computed on the basis of actual
days elapsed over the period of a 360-day year.

 

Upon
or after the occurrence and during the continuation of any Event of Default
hereunder, under the terms of the Leasehold Mortgage (as hereinafter defined),
or under the Loan Agreement, the outstanding principal balance of this Note
shall bear interest at a variable rate per annum equal to the Default Rate.

 

The
principal amount and accrued interest of this Note shall be due and payable on
the dates and in the manner set forth in the Loan Agreement.

 

Lender
is authorized to rely on the oral or written loan requests, including
facsimile, telecopy or telegraphic loan requests, which Lender believes in its
good faith judgment to emanate from a properly authorized representative of
Borrower, whether or not that is in fact the case.

 

In
no contingency or event whatsoever, whether by reason of advancement of the
proceeds hereof or otherwise, shall the amount paid or agreed to be paid to
Lender for the use, forbearance or detention of money advanced hereunder exceed
the highest lawful rate permissible under any law which a court of competent
jurisdiction may deem applicable hereto.

 

This Note is secured by the
Collateral described in the Loan Agreement, including, without limitation, a Mortgage of Leasehold, Security Agreement,
Assignment of Rents and 

 

 

Leases and Financing Statement executed and delivered as of the date hereof,
encumbering certain real estate in the County of Vermilion, Illinois
(hereinafter, as amended, restated or replaced from time to time, the “Leasehold
Mortgage”), which Leasehold Mortgage secures future advances and future
obligations.

 

Payments
of principal and interest shall be made to Lender by wire transfer, in
immediately available funds, before 12:00 noon, St. Louis, Missouri time, on
the appropriate due date, at its offices located at 8000 Maryland Avenue, Suite 1400,
St. Louis, MO 63105; or in such
other manner as Lender may elect from time to time.  If any payment is due on a day other than a
business day, such payment shall be due on the next succeeding business
day.  Failure to make payments on this
Note as required under the terms hereof (subject to any cure rights contained
in the Loan Agreement) and under the terms of the Loan Agreement shall
constitute an Event of Default hereunder. 
All payments due under this Note and not received within fifteen (15)
days following the date due hereunder shall be subject to a late payment fee of
five percent (5%) of the amount of said late payment.

 

Borrower
may prepay this Note and terminate the underlying credit facility in accordance
with and subject to the terms of the Agreement.

 

Upon
the occurrence of an Event of Default hereunder or under any of the other Loan
Documents, including, without limitation, the Loan Agreement or the Leasehold
Mortgage, Lender shall be entitled, at its option, to declare the then
outstanding principal balance and accrued interest hereof to be, and the same
shall thereupon become, immediately due and payable without notice to or demand
upon Borrower, all of which Borrower hereby expressly waives.

 

Time
is of the essence of this Note.  To the
fullest extent permitted by applicable law, Borrower, for itself and its
successors and assigns, expressly waives presentment, demand, protest, notice
of dishonor, and any and all other notices, demands and consents in connection
with the delivery, acceptance, performance, default or enforcement of this
Note, and hereby consents to any extensions of time, renewals, releases or any
parties to or guarantors of this Note, waivers and any other modifications that
may be granted or consented to by Lender from time to time in respect of the
time of payment or any other provision of this Note.

 

Wherever
possible each provision of this Note shall be interpreted in such a manner as
to be effective and valid under applicable law, but if any provision of this
Note shall be prohibited or invalid under applicable law, such provision shall
be ineffective to the extent of such prohibition or invalidity without
invalidating the remainder of such provision or remaining provisions of this
Note.  No delay or failure on the part of
Lender in the exercise of any right or remedy hereunder shall operate as a
waiver thereof, nor as an acquiescence in any default, nor shall any single or
partial exercise by Lender of any right or remedy preclude any other right or
remedy.  Lender, at its option, may
enforce its rights against any collateral securing this Note without enforcing
its rights against Borrower, any guarantor of the indebtedness evidenced hereby
or any other property or indebtedness due or to become due to Borrower.  Borrower agrees that, without releasing or
impairing Borrower’s liability hereunder, Lender may at any time release,
surrender, substitute or exchange any collateral securing this Note and may at
any 

 

 

time release any party primarily or secondarily
liable for the indebtedness evidenced by this Note.

 

This
Note shall be governed by, and construed and enforced in accordance with, the
internal laws of the State of Missouri.

 

Mo.Rev.Stat.
§  432.047 Required Statement.  “Oral agreements or commitments to loan money,
extend credit or to forbear from enforcing repayment of a debt including
promises to extend or renew such debt are not enforceable, regardless of the legal theory upon which it is
based that is in any way related to the credit agreement.  To
protect you (borrower(s)) and us (creditor) from misunderstanding or
disappointment, any agreements we reach covering such matters are contained in
this writing, which is the complete and exclusive statement of the agreement
between us, except as we may later agree in writing to modify it.”

 

[Remainder
of page intentionally left blank]

 

[Signature
page follows]

 

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be executed and delivered by
its duly authorized representative as of the date first written above.

 

 

	
   

  	
  BLACKHAWK
  BIOFUELS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
        /S/  Ronald
  L. Mapes

  
	
   

  	
   

  	
  Ronald L. Mapes, Chair

  

 

Fifth Third/Blackhawk Biofuels, LLC

Revolving Credit Loan Note Signature PageEXHIBIT 10.6

 

SECURITY AGREEMENT

 

This
Security Agreement (the “Agreement”) is given as of May 9, 2008, from
BLACKHAWK BIOFUELS, LLC, a Delaware limited liability company (the “Borrower”),
to FIFTH THIRD BANK, a Michigan banking corporation (the “Lender”).

 

Preliminary
Statement.  The Borrower and the Lender have entered
into, or contemporaneously herewith are entering into, that certain Loan
Agreement dated on or about the date hereof (as amended or otherwise modified
from time to time, the “Loan Agreement”) pursuant to which, and subject to the
terms and conditions thereof, the Lender has agreed to extend credit to or for
the benefit of the Borrower.  Capitalized
terms used and not defined herein shall have the meanings given to them in the
Loan Agreement or the Code.  The Borrower
now desires to grant to the Lender a security interest in all present and
future personal property of the Borrower as security for all present and future
obligations of the Borrower to the Lender.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Borrower and the Lender agree as follows:

 

l.  Grant of Security Interest.   The Borrower hereby grants to the Lender a
security interest in all assets and personal property of the Borrower,
including but not limited to all the Borrower’s right, title and interest in
and to the following property, wherever located, whether held by
Borrower or any other person (including Secured Party, any financial
institution or securities intermediary) and whether such property or interest
therein is now owned or existing or hereafter acquired or arising (collectively, the “Collateral”):

 

(a)                                  All
Accounts, accounts receivable, other receivables, any right to payment  of a 
monetary obligation, whether or not earned by performance, leases and
lease payments, contract rights, any other obligations or indebtedness owed to
Borrower from whatever source arising, all other rights of Borrower to receive
performance or any payments in money or in kind whether or not earned by
performance, all guaranties, security interests and Supporting Obligations of
any of the foregoing and insurance policies and proceeds relating thereto, and
all rights of Borrower as an unpaid seller of Goods and services, including,
but not limited to, the rights to stoppage in transit, replevin,
reclamation, and resale, all rights to payment for money or funds advanced or
sold.

 

(b)                                 All
Inventory, merchandise, raw materials, goods in process, work in progress,
materials used or consumed in a business, finished goods, component materials,
and all supplies, incidentals, office supplies, packaging materials and any and
all property or items used or consumed in the operation of the business of
Borrower or which contribute to the finished products or to the sale, promotion
and shipment thereof, As-Extracted collateral, all property leased by Borrower,
held 

 

1

 

by Borrower for sale or lease or to be furnished under
a contract of service, or furnished by Borrower under a contract for service
and all Documents evidencing any part of any of the foregoing.

 

(c)                                  All
Equipment, Goods other than Inventory, parts, computers, including data,
hardware and software, machinery, fixtures, furniture, furnishings, tools,
dies, aircraft, vessels and vehicles of every kind and description, whether or
not titled, all parts and accessories for or relating to any of the foregoing.

 

(d)                                 all
Documents, including, without limitation, all warehouse receipts, bills of
lading and similar documents of title relating to goods in which Borrower at
any time has an interest, whether now or at any time or times hereafter issued
to Borrower or Lender by any person or entity, and whether covering any portion
of Borrower’s inventory or otherwise;

 

(e)                                  all
Instruments (including, without limitation, Promissory Notes) of any kind or
nature whatsoever, whether negotiable or non-negotiable;

 

(f)                                    all
Chattel Paper of any kind or nature whatsoever, including, without limitation,
all leases, rental agreements, installment sale agreements, conditional sale
agreements and other chattel paper relating to or arising out of the sale,
rental, lease or other disposition of any of the Collateral;

 

(g)                                 all
General Intangibles of any kind or nature whatsoever, including, without
limitation, all Payment Intangibles, all patents, trademarks, copyrights and
other intellectual property, and all applications for, registrations of and
licenses of the foregoing and all computer software, product specifications,
trade secrets, licenses, trade names, service marks, goodwill, tax refunds,
rights to tax refunds, franchises, rights related to prepaid expenses, rights
under executory contracts, choses in action, causes of action and rights under
partnership, joint venture, co-ownership, management and/or similar agreements
and/or arrangements, except to the extent that Borrower is prohibited from
granting a security interest in any of the foregoing under the applicable
license or agreement giving rise to Borrower’s rights in same;

 

(h)                                 all
monies, reserves, deposits, cash, cash equivalents and other property now or at
any time or times hereafter in the possession or under the control of Lender or
any bailee of Lender;

 

(i)                                     all
Deposit Accounts and certificates of deposit and all interest or dividends
thereon;

 

(j)                                     all
Investment Property and financial assets of any kind or type, whether
certificated or uncertificated, including, without limitation, all securities,
securities accounts, securities entitlements, stocks, bonds, options, warrants,
commodity contracts, futures contracts, commodity accounts, commodity options,
commercial paper, money market funds and/or accounts, Treasury bills, notes and
bonds, 

 

2

 

instruments,
certificates of deposit, mutual fund shares, cash and money, together with all
rights, income, revenues, proceeds and profits therefrom, including, without
limitation, all dividends, distributions (cash or stock, extraordinary as well
as ordinary), interest and other payments, all additions thereto, substitutions
or replacements thereof, any goods or other property to be delivered
thereunder, and any exchanges for or changes in any of the foregoing;

 

(k)                                  all
Commercial Tort Claims (Lender acknowledges that the attachment of its security
interest in any Commercial Tort Claim as original collateral is subject to
Borrower’s compliance with Section 3(d));

 

(l)                                     all
Supporting Obligations;

 

(m)                               all
letters of credit and Letter-of-Credit Rights;

 

(n)                                 all
books, records, computer records, computer disks, ledger cards, programs and
other computer materials, customer and supplier lists, invoices, orders and
other property and general intangibles at any time evidencing or relating to
any of the Collateral;

 

(o)                                 all
accessions to any of the property described above and all substitutions,
renewals, improvements and replacements of and additions thereto; and

 

(p)                                 all proceeds,
including, without limitation, proceeds which constitute property of the types
described in (a), (b), (c), (d), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n) and/or
(o) above and any rents and profits of any of the foregoing items, whether
cash or noncash, immediate or remote, including, without limitation, all
income, accounts, contract rights, general intangibles, payment intangibles,
chattel paper, notes, drafts, acceptances, instruments and other rights to the
payment of money arising out of the sale, rental, lease, exchange or other
disposition of any of the foregoing items (provided, however, that nothing
contained herein shall be deemed to permit or assent to any such disposition
other than the sale or lease of inventory in the ordinary course of business
(which does not include any sale, lease or other transfer of inventory in partial
or total satisfaction of any Indebtedness)), or the disposition of obsolete
Collateral in the ordinary course of business, and insurance proceeds, and all
products, of (a), (b), (c), (d), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n) and/or
(o) above, and any indemnities, warranties and guaranties payable by
reason of loss or damage to or otherwise with respect to any of the foregoing
items.

 

2.  Security for Obligations.  This Agreement secures the payment and
performance of all obligations of (i) the Borrower to the Lender under the
Loan Agreement and the other Loan Documents, (ii) the obligations of
Borrower and/or the Lender to the IFA pursuant to the IFA Guaranty Documents,
whether due to any Lender recovery under the IFA Guaranty or otherwise, and (iii) any
other obligation of the Borrower to the Lender, whether monetary, nonmonetary,
direct, indirect, acquired, joint, 

 

3

 

several, joint and several, liquidated, unliquidated, contractual,
noncontractual, existing, future, contingent or otherwise, and any
replacements, renewals, extensions and other modifications of any of the above,
together with any interest, fees, expenses and other charges thereon, and any
amounts expended by or on behalf of the Lender for the protection and
preservation of the security interest granted herein by the Borrower to the
Lender, including, without limitation, any post-petition financing provided by
the Lender in connection with any bankruptcy or insolvency proceeding with
respect to Borrower (collectively, the “Obligations”).

 

3.  Further Assurances.

 

(a) 
The Borrower agrees that from time to time, at the sole expense of the
Borrower, the Borrower shall promptly execute and deliver all further
instruments and documents, and take all further action, that may be necessary
or desirable, or that the Lender may reasonably request, in order to perfect
and protect any security interest granted or purported to be granted hereby or
to enable the Lender to exercise and enforce its rights and remedies hereunder
with respect to any Collateral.  Without
limiting the generality of the foregoing, the Borrower shall: (i) if any
Collateral shall be evidenced by any certificated Investment Property or
promissory note or other Instrument, deliver and pledge to the Lender such note
or instrument, duly endorsed with recourse by the Borrower, and accompanied by
duly executed instruments of transfer or assignment, all in form and content
satisfactory to the Lender; and (ii) execute and file such assignments,
financing or continuation statements, or amendments thereto, title or lien
registrations and such other instruments or notices, as may be necessary or
desirable, or as the Lender may request, in order to perfect and preserve the
security interests granted or purported to be granted hereby.  When any Collateral is in the possession of a
third party, the Borrower will join with the Lender in notifying the third
party of the Lender’s security interest and obtaining an acknowledgement from
the third party that it is holding the Collateral for the benefit of the
Lender.  The Borrower will obtain control
agreements in form satisfactory to the Lender as deemed necessary by the Lender
for purposes of further perfecting or enforcing the security interests of the
Lender hereunder.  The Borrower shall not
create any Chattel Paper without delivering same to the Lender or placing a
legend on the Chattel Paper acceptable to the Lender indicating that the Lender
has a security interest in the Chattel Paper.

 

(b)                                 The
Borrower hereby authorizes the Lender to file one or more financing or
continuation statements, and amendments thereto, relating to all or any part of
the Collateral, without the signature of the Borrower.  A copy of this Agreement shall be sufficient
as a financing statement to the extent permitted by law.

 

(c) 
The Borrower will furnish to the Lender from time to time statements and
schedules further identifying and describing the Collateral and such other
reports in connection with the Collateral as the Lender may reasonably request
from time to time, all in reasonable detail.

 

(d) 
The Borrower agrees that if Borrower shall at any time hold or
acquire a commercial tort claim, Borrower will promptly notify Lender in a
writing signed by 

 

4

 

Borrower of
the brief details thereof and grant to Lender in such writing a security
interest therein and in the proceeds thereof, all upon the terms of this
Agreement.

 

(e)                                  The
Borrower’s (i) chief executive office and all Collateral locations are as
provided in Schedule 3(e) of this Security Agreement; (ii) State of
Organization is Delaware and (iii) exact legal name is Blackhawk Biofuels, LLC.

 

4.  The Lender’s Duties.  The powers conferred on the Lender hereunder
are solely to protect its interest in the Collateral and shall not impose any
duty upon it to exercise any such powers. 
Unless otherwise required by law or as agreed to in
writing between the Borrower and Lender, the Borrower has the risk of loss of the
Collateral and the Lender shall have no duty as to any Collateral or as to the
taking of any necessary steps to preserve rights against other parties or any
other rights pertaining to any Collateral.

 

5.               Continuing
Borrower Liability.

 

(a)                                  Notwithstanding
anything herein to the contrary, (i) the Borrower shall remain liable
under the contracts and agreements included in the Collateral to the extent set
forth therein to perform all of its duties and obligations thereunder to the
same extent as if this Agreement had not been executed, (ii) the exercise
by the Lender of any of its rights hereunder shall not release the Borrower
from any of its duties or obligations under the contracts and agreements
included in the Collateral, and (iii) the Lender shall not have any
obligation or liability under the contracts and agreements included in the
Collateral by reason of this Agreement, nor shall the Lender be obligated to
perform any of the obligations or duties of the Borrower thereunder or to take
any action to collect or enforce any claim for payment assigned hereunder.

 

(b)                                 This
Agreement and any and all security interests created or evidenced hereby and
all Obligations will continue to be effective or be reinstated, as the case may
be, as though payment had not been made, if at any time any amount received by
Lender in respect of the Obligations is rescinded or must otherwise be restored
or returned by Lender, including upon the insolvency, bankruptcy, dissolution,
liquidation or reorganization of the Borrower or upon the appointment of any
intervenor or conservator of, or trustee or similar official for, the Borrower,
any substantial part of its assets, or otherwise.

 

6.  Remedies.  If any Event of Default shall have occurred
and be continuing:

 

(a) 
The Lender shall have the right to take immediate possession of the Collateral,
and (i) to require the Borrower to assemble the Collateral, at the
Borrower’s expense, and make it available to the Lender at a place designated
by the Lender which is reasonably convenient to both parties, and (ii) to
enter any of the premises of the Borrower or wherever any of the Collateral
shall be located, and to keep and store the same on such premises until sold or
otherwise realized upon (and if such premises are the property of the Borrower,
the Borrower agrees not to charge the Lender for storage thereof).

 

5

 

(b) 
The Lender shall have the right to sell or otherwise dispose of all or
any Collateral at public or private sale or sales, with such notice as may be
required by law, all as the Lender, in its sole discretion, may deem
advisable.  The Borrower agrees that ten (10) days
written notice to the Borrower of any public or private sale or other
disposition of such Collateral shall be reasonable notice thereof, and such
sale shall be at such locations as the Lender may designate in such
notice.  The Lender shall have the right
to conduct such sales on the Borrower’s premises, without charge therefor.  All public or private sales may be adjourned
from time to time in accordance with applicable law.  The Lender shall have the right to sell,
lease or otherwise dispose of such Collateral, or any part thereof, for cash,
credit or any combination thereof, and the Lender may purchase all or any part
of such Collateral at public or, if permitted by law, private sale and, in lieu
of actual payment of such purchase price, may set off the amount of such price
against the Obligations.  At any sale,
the Lender may specifically disclaim any warranties including of title or the
like.  The Lender may comply with any
applicable state or federal law requirements in connection with a disposition
of the Collateral and compliance will not be considered to adversely affect the
commercial reasonableness of any sale or disposition of the Collateral.

 

(c) 
The Lender may exercise in respect of the Collateral, in addition to other
rights and remedies provided for herein, under the Loan Agreement or under the
other Loan Documents, all the rights and remedies of a secured party on default
under the Code or otherwise available at law or in equity.

 

7.  Indemnity and Expenses.

 

(a) 
The Borrower agrees to indemnify the Lender from and against any and all
claims, losses and liabilities arising out of or relating to this Agreement,
and/or any of the Obligations (including, without limitation, enforcement of
this Agreement and the Lender’s exercise of its rights and remedies hereunder),
unless such claim, loss or liability is caused solely by the gross negligence
or willful misconduct of Bank.  The
foregoing indemnity shall survive the termination of this Security Agreement
and the Loan Agreement and payment in full of the Obligations.

 

(b) 
The Borrower shall upon demand pay to the Lender the amount of any and all
expenses, including, without limitation, the reasonable fees and disbursements
of its counsel and of any experts and agents, which the Lender may incur
following Borrower’s default in connection with (i) the administration of
this Agreement, (ii) the custody, preservation, use of, or the sale of,
collection from, or other realization upon, any of the Collateral, (iii) the
exercise or enforcement of any of the rights of the Lender hereunder or (iv) the
failure by the Borrower to perform or observe any of the provisions
hereof.  All such fees, expenses and
disbursements shall be deemed Obligations under the Loan Agreement that are
secured by this Agreement.

 

8.  Notice.  All notices, requests and demands to or upon
a party hereto shall be given in accordance with Section 10.3 of the Loan
Agreement.

 

6

 

9.  Governing Law.  This Agreement shall be governed by and
construed in accordance with the internal laws of the State of Missouri without
giving effect to any choice of law rules thereof; provided, however,
that if any of the Collateral shall be located in any jurisdiction other than
Missouri, the laws of such jurisdiction shall govern the method, manner and
procedure for foreclosure of the Lender’s lien upon or other interest in such
Collateral and the enforcement of the Lender’s other remedies in respect of
such Collateral to the extent that the laws of such jurisdiction are different
from or inconsistent with the laws of Missouri. 
THE BORROWER HEREBY
CONSENTS TO THE JURISDICTION OF ANY STATE COURT LOCATED WITHIN THE CITY OF ST.
LOUIS OR ST. LOUIS COUNTY, MISSOURI OR FEDERAL COURT IN THE EASTERN DISTRICT OF
MISSOURI, EASTERN DIVISION, AND WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS
UPON IT AND CONSENTS THAT ALL SUCH SERVICE OF PROCESS BE MADE BY CERTIFIED OR
REGISTERED MAIL DIRECTED TO THE BORROWER AT THE ADDRESS STATED IN SECTION 10.3
OF THE LOAN AGREEMENT AND SERVICE SO MADE SHALL BE DEEMED TO BE COMPLETED UPON
ACTUAL RECEIPT THEREOF.  THE BORROWER
WAIVES ANY OBJECTION TO JURISDICTION AND VENUE OF ANY ACTION INSTITUTED AGAINST
IT AS PROVIDED HEREIN AND AGREES NOT TO ASSERT ANY DEFENSE BASED ON LACK OF
JURISDICTION OR VENUE.

 

10.  Miscellaneous.  No amendment or waiver of any provision of
this Agreement nor consent to any departure by the Borrower herefrom, shall in
any event be effective unless the same shall be in writing and signed by the
party against whom enforcement of such amendment, waiver or consent is sought,
and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given.  The paragraph and section headings herein are
solely for convenience and shall not be deemed to limit or otherwise affect the
meaning or construction of any part of this Agreement.  This document shall be construed without
regard to any presumption or rule requiring construction against the party
causing such document or any portion thereof to be drafted.  If any provision or provisions of this
Agreement shall be unlawful, then such provision or provisions shall be null
and void, but the remainder of the Agreement shall remain in full force and
effect and be binding on the parties.  A
facsimile or other electronically transmitted signature of the Borrower shall
be deemed an original signature.

 

11.                                 Waiver
of Jury Trial.  THE BORROWER
HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY (WHICH THE BANK ALSO WAIVES) IN ANY
ACTION, SUIT, PROCEEDING OR COUNTERCLAIM OF ANY KIND ARISING OUT OF OR RELATING
TO THIS AGREEMENT, THE OBLIGATIONS, THE COLLATERAL OR THE BANK’S CONDUCT IN
RESPECT OF ANY OF THE FOREGOING.

 

[SIGNATURE PAGE TO FOLLOW]

 

7

 

IN
WITNESS WHEREOF, the Borrower has caused this Agreement to be executed and
delivered by its duly authorized representative as of the date first above
written.

 

	
   

  	
  BLACKHAWK
  BIOFUELS, LLC,

  
	
   

  	
  a Delaware
  limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
        /S/  Ronald L. Mapes

  
	
   

  	
   

  	
  Ronald L. Mapes, Chair

  

 

Signature Page

 

 

SCHEDULE 3(e)

 

CHIEF EXECUTIVE OFFICE AND ALL COLLATERAL LOCATIONS

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