Document:

Exhibit 10.2

AMENDED AND RESTATED

ETHANOL
MARKETING AGREEMENT*

THIS
ETHANOL MARKETING AGREEMENT (the “Agreement”) is entered into
on 29, 2007, to be effective as of the “Effective Date” (defined in Section
1(c) hereof), by and between Archer Daniels Midland Co., a Delaware corporation
with its principal place of business in Decatur, Illinois (“ADM”), and LSCP,
L.L.L.P., an Iowa limited liability limited partnership with its principal
place of business in Marcus, Iowa (“LS”).

BACKGROUND

WHEREAS, ADM
and LS are both in the business of processing corn to produce ethanol for
commercial sale; and

WHEREAS, ADM
has knowledge of the ethanol industry in the United States, and has experience
related to ethanol marketing, sales, and distribution; and

WHEREAS, LS entered into an
Ethanol Marketing Agreement ,dated February 19, 2002, with Minnesota Corn
Processors, LLC (the “Initial Agreement”); and

WHEREAS,
Minnesota Corn Processors, LLC subsequently assigned the Initial Agreement to
ADM and ADM assumed all the rights, duties and obligations of Minnesota Corn
Processors under the Initial Agreement; and

WHEREAS,
LS and ADM believe that it would be in their mutual best interests for ADM to
continue to purchase ethanol produced by LS, for purposes of marketing,
selling, and distributing that ethanol, along with the ethanol produced by ADM;
and

WHEREAS, LS
and ADM desire to amend and restate the Initial Agreement, for purposes of
setting out the terms and conditions of the business arrangement.

NOW,
THEREFORE, the parties to this Agreement hereby covenant and
agree as follows:

AGREEMENT

1.             TERMS OF THIS AGREEMENT.

(a)           The Initial Term.  The term of this Agreement will
be for four years from its Effective Date, unless this Agreement is terminated
earlier in the manner described below in Section 2.  That four-year period will hereafter be
referred to as the “Initial Term.”

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

(b)           The Renewal Terms. 
Unless this Agreement is terminated in the manner described below in
Section 2, this Agreement will automatically renew for successive additional
terms of one year each.  These additional
terms will each be referred to hereafter as a “Renewal Term.”

(c)           Effective Date.  “Effective
Date” means the earlier of the date upon which this Agreement is executed or
February 19, 2007.

2.             TERMINATION. 
This Agreement may be terminated under the circumstances set out below.

(a)           Termination for Intentional Misconduct.  If either
party engages in intentional misconduct reasonably likely to result in
significant adverse consequences to the other party, the party harmed or likely
to be harmed by the intentional misconduct may terminate this Agreement
immediately, upon written notice to the party engaging in the intentional
misconduct.

(b)           Termination for Uncured Breach.  If one of the
parties breaches the terms of this Agreement, the other party may give the
breaching party a notice in writing which specifically sets out the nature and
extent of the breach, and the steps that must be taken to cure the breach.  After receiving the written notice, the
breaching party will then have thirty (30) days to cure the breach, if the
breach does not involve a failure to make any payments which are required by
this Agreement.

If the breach does
involve a failure to make any payments which are required by this Agreement,
then the breaching party will have five (5) days after receiving the written
notice to cure the breach.  If the
breaching party does not cure any breach within the applicable cure period,
then the non-breaching party will have the right to terminate this Agreement
immediately.

(c)         Termination at the End of the Initial Term or Any Renewal Term. 
Either party may terminate this Agreement at the end of the Initial
Term, or at the end of any Renewal Term, by providing the other party with a
written notice of intent to terminate. 
Such a written notice of intent to terminate must specify the proposed
termination date, and must be received by the non-terminating party at least
three (3) months before the proposed termination date.

(d)           Termination by Mutual Written Agreement.  This Agreement
may also be terminated upon any terms and under any conditions which are
mutually agreed upon in writing by the parties.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 2
 

3.             REPRESENTATIONS AND WARRANTIES OF LS.  In connection
with its sale of ethanol to ADM under this Agreement, LS makes the following
representations and warranties, for the benefit of ADM:

(a)           Good Title.  LS will have good and marketable title to all
of the ethanol sold to ADM under this Agreement, free and clear of all liens
and encumbrances.

(b)           Corporate Existence and Good
Standing.  LS is a limited liability limited partnership
validly existing and in good standing under the laws of the State of Iowa.

(c)           Corporate Authority and Corporate
Approval.  LS has the power and authority to enter into
this Agreement.  Further, LS has taken
all corporate action necessary to authorize it to execute, become bound by, and
perform its duties and obligations under this Agreement.

(d)           No Conflicts as to Law or
Agreements.  The execution of this Agreement by LS, the
sale and transfer of ethanol from LS to ADM, and the taking of all actions by
LS under this Agreement do not require the consent of any person, entity, or
agency; do not violate any law, rule, or regulation; and do not breach or
violate any contract or agreement to which LS is a party, or by which LS is
bound.

(e)           Compliance with Laws. 
LS is now in compliance, and during the entire term of this Agreement
will remain in compliance, with all applicable federal, state, local, and
foreign laws, ordinances, orders, rules, and regulations (“Laws”), other than
Laws where neither the costs or potential costs of failing to comply, nor the
costs or potential costs of causing compliance, would be material to LS or its
business or assets.  The definition of
Laws set out above includes, but is not limited to, the Toxic Substances
Control Act (“TOSCA”), and all other laws related to the protection of the
environment (“Environmental Laws”).

(f)            Complete and Accurate Disclosure. 
LS has not withheld from ADM any documents, information, or material
facts relating to LS’s ethanol production capabilities, and/or relating to the
business operations of LS.  Further, no
representation or warranty in this Agreement, or in any letter, certificate,
exhibit, schedule, statement, or other document furnished or to be furnished
pursuant to this Agreement, contains any untrue statement of a material fact.

(g)           Licenses and Permits. 
LS now has, and will have at all times during the term of this
Agreement, all of the licenses and permits necessary to operate the LS
Production Facilities.

(h)           Production Capacity.  The amount of
ethanol that LS is capable of producing each year, based on the nameplate design
capacity of all of the LS Production Facilities, will hereafter be referred to
as LS’s “Annual Production Capacity.” 
The nameplate

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 3
 

design capacity of LS’s
ethanol plant in Marcus, Iowa, is at least fifty-two million (52,000,000)
gallons of ethanol per year and that is LS’s Annual Production Capacity as of
the Effective Date of this Agreement.  LS
has the plant capacity and the technical capability to produce the quality of
ethanol required under this Agreement, in the quantities required under this
Agreement.

LS is currently
undergoing an expansion which will increase LS’s nameplate design capacity by
an addition forty million (40,000,000) gallons of ethanol per year.  Upon completion of LS’s expansion, the
nameplate design capacity and Annual Production Capacity of LS’s ethanol plant
in Marcus, Iowa will be at least ninety-two million (92,000,000) gallons of
ethanol per year.  At such time as the
expansion is complete, ADM and LS agree that the nameplate design capacity and
Annual Production Capacity will automatically increase to ninety-two million
(92,000,000) gallons of ethanol per year. 
LS shall provide ADM with written notice at such time as LS reasonably
believes that such expansion is six (6) months from completion, three (3)
months from completion and one (1) month from completion.

(i)            Product Quality. 
All of the ethanol sold to ADM by LS under this Agreement will be of
merchantable quality, and will be fit for its intended purpose.  All such ethanol must meet all applicable
ASTM Standards, must meet the ethanol standards established by the Williams
Pipeline test, and must meet the ethanol standards established by all other
standard ethanol industry tests.

(j)            Patent Infringement. 
LS is not now, and will not be at any time in the future during the term
of this Agreement, infringing upon any patents or other intellectual property
rights held by any other parties.

4.             REPRESENTATIONS AND WARRANTIES OF ADM.  In connection with providing the services
on behalf of LS which are described in this Agreement, ADM makes the following
representations and warranties, for the benefit of LS:

(a)           Corporate Existence and Good Standing.  ADM is a
corporation validly existing and in good standing under the laws of the State
of Delaware.

(b)           Corporate Authority and Corporate Approval. 
ADM has the power and the authority to enter into this Agreement.  Further, ADM has taken all corporate action
necessary to authorize it to execute, become bound by, and perform its duties
and obligations under this Agreement.

(c)           No Conflicts as to Law or Agreements.  The execution
of this Agreement by ADM, the purchasing of ethanol from LS by ADM, and the
taking of all actions by ADM under this Agreement do not require the consent of
any person, entity, or agency; do not violate any law, rule, or regulation; and
do not breach or violate any contract or agreement to which ADM is a party, or
by which ADM is bound.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 4
 

(d)           Compliance with Laws.  ADM is now in
compliance, and during the entire term of this Agreement will remain in
compliance, with all applicable federal, state, local, and foreign laws,
ordinances, orders, rules, and regulations (“Laws”), other than Laws where
neither the costs or potential costs of failing to comply, nor the costs or
potential costs of causing compliance, would be material to ADM or its business
or assets.  The definition of Laws set
out above includes, but is not limited to, the Toxic Substances Control Act (“TOSCA”),
and all other laws related to the protection of the environment (“Environmental
Laws”).

(e)           Licenses and Permits.  ADM now has,
and will have at all times during the term of this Agreement, all of the
licenses and permits necessary to perform its obligations under this Agreement.

(f)            Product Quality.  All of the ethanol produced by
ADM and sold to its customers under this Agreement will be of merchantable
quality, and will be fit for its intended purpose.  All such ethanol must meet all applicable
ASTM Standards, must meet the ethanol standards established by the Williams
Pipeline test, and must meet the ethanol standards established by all other
standard ethanol industry tests.

(g)           Patent Infringement.  ADM is not
now, and will not be at any time in the future during the term of this
Agreement, infringing upon any patents or other intellectual property rights
held by any other parties.

5.             QUANTITY. 
During the entire term of this Agreement, LS agrees to sell to ADM, and
ADM agrees to purchase from LS, all of the ethanol produced by LS at its
production facility near Marcus, Iowa (the “LS Production Facilities”).

6.             PRODUCTION ESTIMATES.  As of the
Effective Date of this Agreement, LS will provide ADM with LS’s best estimate
of LS’s anticipated monthly ethanol production for the next twelve (12) months,
to assist ADM in developing appropriate marketing strategies for the ethanol to
be produced by LS.

On or before the first
day of each month, LS will provide ADM with its updated best estimate of LS’s
anticipated monthly ethanol production for the next twelve (12) months, so that
ADM will have ethanol production estimates from LS twelve (12) months into the
future during the entire time that this Agreement is in effect.

Once this Agreement has
been terminated under Section 2(a), Section 2(b), or Section 2(d) above, LS
will no longer be required to provide ADM with any further monthly ethanol
production estimates, except to the extent required in any written termination
agreement between the parties entered into under Section 2(d) above.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 5
 

Once either party has
sent a written notice of intent to terminate this Agreement under Section 2(c)
above, LS’s monthly ethanol production estimates must continue to cover the
time period through the proposed termination date, but need not extend to any
months after the proposed termination date.

7.             MONTHLY ETHANOL VOLUME REQUIREMENTS

(a)           Development of the Ethanol Volume Requirement.  On or before the first day of the month, LS
will provide ADM with written notice setting out the number of gallons of
ethanol that LS expects to produce and make available for sale under this
Agreement during the next month (the “Ethanol Volume Requirement”).

For
example, on or before April 1, the LS will provide ADM with its Ethanol Volume
Requirement for the next month, which would be May.

(b)           Intent of the Parties to Transact at or
Near Full Capacity.  Both parties acknowledge and agree that if
market conditions and other conditions are favorable, LS intends to operate the
LS Production Facilities at or near full capacity.

8.             SHORTFALLS IN THE MONTHLY ETHANOL VOLUME REQUIREMENTS OF LS.  To the extent that LS fails to produce enough ethanol
to meet LS’s Ethanol Volume Requirement in any month, ADM will have the right
to purchase ethanol elsewhere, in a commercially reasonable manner, in order to
cover the shortfall.  All costs and expenses
related to such purchases which are in excess of the costs and expenses that
ADM would have incurred in the absence of such a shortfall will be charged to
LS.

9.             EXCESS
ETHANOL PRODUCTION.  To the extent that LS produces more
than the Ethanol Volume Requirement for a particular month, ADM may, but is not
required to take immediate delivery of such excess ethanol.  If ADM does not take immediate delivery of
such excess ethanol, LS shall add such excess ethanol to the Ethanol Volume
Requirement for the next month, and store such excess ethanol at its own
expense until the next month.

10.           SERVICES TO
BE PROVIDED BY ADM.  ADM in
its sole discretion will provide, in good faith, the marketing, sales, storage,
and transportation services for the ethanol produced under this Agreement.

11.           QUALITY
ASSURANCE AND QUALITY CONTROL.

(a)           Ongoing QA and QC Support.  As reasonably
requested by either party, ADM will provide reasonably appropriate quality
assurance (“QA”) and quality control (“QC”) support to LS, to assist LS in
consistently producing ethanol at the LS Production Facilities 

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 6
 

which meets the standards
for product quality which are set out in Section 3(i) of this Agreement.

(b)           LS’s Responsibility and Liability for the Ethanol that it Produces. 
Notwithstanding ADM’s agreement to provide LS with QA and QC support in
the manner described in this Section 11, the parties agree that LS will
ultimately be responsible for the quality of the ethanol produced at the LS
Production Facilities.  Further, the
parties agree that LS, and not ADM, will be responsible and liable for all
claims related to the quality of the ethanol produced by LS at the LS
Production Facilities.

(c)           LS’s Release of ADM from Liability Related to QA and QC Support. 
ADM’s agreement to provide QA and QC support to LS under this Agreement
is a good faith attempt by ADM to help LS meet the ethanol quality standards
set out in this Agreement, for the mutual benefit of ADM and LS.  However, ADM’s agreement to provide QA and QC
support to LS does not constitute a warranty or a guarantee of any type with
respect to the quality of the ethanol produced by LS.  Thus, LS and all of its related persons and
organizations hereby release ADM and all of its related persons and
organizations from all liability, in the absence of gross negligence and/or
willful misconduct, related to the QA and QC support provided to LS by ADM
under this Agreement.

12.           SALES TO ADM’S ETHANOL CUSTOMERS.  When ADM sells
the ethanol produced under this Agreement to its customers, the parties
understand and agree that the ethanol sales prices, and all other terms and
conditions of ethanol sales to customers under this Agreement, will be
established by ADM subject to commercially reasonable standards.  These decisions may be made by ADM, without
the need for obtaining consent from LS.

13.           PAYMENTS TO ADM FOR SERVICES PROVIDED.  In exchange
for the marketing, sales, storage, and transportation services provided by ADM
under Section 10 above during the Initial Term, LS will pay ADM the sum of [*].  During each
Renewal Term, the fee paid to ADM by LS for these same services will be
negotiated and agreed upon by the parties.

During any time period
after the Initial Term when the parties have not agreed upon the amount that LS
will pay ADM for these services, the fee paid to ADM by LS for these services
will be [*] LS will pay ADM this fee for
services by the fourteenth day of each month, for the services provided and the
gallons of ethanol sold by ADM during the previous month.

14.           INDEPENDENT CONTRACTOR STATUS OF ADM, AND EMPLOYMENT STATUS OF ADM’S
EMPLOYEES.  Nothing contained in this Agreement,
including the services to be provided by ADM on behalf of LS, will make ADM the
agent of LS for any purpose.  ADM and its
employees shall be deemed to be independent contractors, with full control over
the manner and method of performance of the services they will be providing on
behalf of LS under this Agreement.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 7
 

Any of the employees of
ADM which are providing services on behalf of LS under this Agreement will
remain employees of ADM.  These employees
will continue to be paid by ADM and to enjoy the benefits to which they are
entitled as employees of ADM, unless otherwise provided in any separate
agreement covering the services of such employees.

15.           SEPARATE ENTITIES.  LS and ADM are
separate entities.  Nothing in this
Agreement or otherwise shall be construed to create any rights or liabilities
of either party to this Agreement with regard to any rights, privileges,
duties, or liabilities of the other party to this Agreement, except to the
extent otherwise provided in this Agreement, or in any other agreement between
the parties to this Agreement.

16.           ORDERING AND SHIPPING PROCEDURES.  ADM and LS
agree to follow the ordering and shipping policies and procedures currently in
place, attached hereto as “Exhibit A.”

17.           PRODUCT DISTRIBUTION.

(a)           The ADM Production Facilities.  ADM presently
produces ethanol at its plant in Marshall, Minnesota (the “Marshall Plant”),
and at its plant in Columbus, Nebraska (the “Columbus Plant”).  The Marshall Plant and the Columbus Plant may
be collectively referred to hereafter as the “ADM Production Facilities.”

(b)           Product Substitution.  The parties
agree that the ethanol produced at the ADM Production Facilities and the
ethanol produced at the LS Production Facilities will be considered fungible
and interchangeable for purposes of product distribution under this
Agreement.  ADM will not brand, label, or
otherwise identify any ethanol sold under this Agreement differently because
that ethanol was produced at the LS Production Facilities, as opposed to being
produced at the ADM Production Facilities.

(c)           Efficient Product Distribution. 
When customers purchase ethanol from ADM that has been produced under
this Agreement, ADM may fill the orders of those customers with ethanol
produced at the LS Production Facilities, the ADM Production Facilities, or
both.  ADM will manage the factors such
as customer and delivery locations, order sizes, freight availability, and
product delivery logistics in a manner that will result in a reasonably
efficient and cost effective product distribution, for the mutual benefit of
both LS and ADM.

18.           PRODUCT
TESTING.  At least twice each
week during the term of this Agreement, and more often at the request of ADM,
LS agrees to provide ADM with samples of the ethanol produced at the LS
Production Facilities, so that ADM can test LS’s product quality on a regular
basis.  ADM agrees to provide LS with the
information LS will need in order to collect, pack, and ship these ethanol
samples to ADM in a manner satisfactory to ADM.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 8
 

19.           COLLECTION
AND RETENTION OF PRODUCT SAMPLES.

(a)           Collection
of Product Samples.  During
the entire term of this Agreement, LS agrees to collect samples of not less
than 250 milliliters each from each shipment of ethanol that leaves the LS
Production Facilities under this Agreement. 
Each such product sample will be labeled to include the production date,
the plant at which the product sample was produced, and any other applicable
information.

(b)           Retention of
Product Samples.  LS agrees to
retain these product samples for at least three months after the date of the
shipment from which each product sample was taken, in a manner which preserves
the integrity of each individual product sample.  Further, LS agrees to promptly provide any of
these samples to ADM, at the request of ADM.

20.           THE ACTUAL
PRICE FOR ETHANOL SOLD TO ADM BY LS. 
ADM agrees to pay LS a price for all ethanol sold to ADM by LS under
this Agreement that is equal to the “Final Average Net Ethanol Selling Price,”
as defined in this Section 20.  For
purposes of this Agreement, the Final Average Net Ethanol Selling Price will be
calculated as follows:

(a)           [*]

(b)           [*]

(c)           [*]

(d)           [*]

21.           THE ESTIMATED PRICE FOR ETHANOL SOLD TO ADM BY LS.

(a)           [*]

(b)           [*]

(c)           Invoices and Payments Between LS and ADM. 
LS will invoice ADM, upon shipment, at the applicable Estimated Average
Net Ethanol Selling Price for all ethanol sold to ADM by LS under this
Agreement.  ADM will pay LS for all such
ethanol on a “Net 15 Days” basis.

(d)           [*]

(e)           Reconciliation of Estimated Selling Prices and Actual Selling Prices
After Each Month.  Within fourteen (14) days after ADM provides
LS with the actual Final 

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 9
 

Average Net Ethanol
Selling Price for the preceding month, the parties will reconcile the
difference between the Estimated Average Net Ethanol Selling Price and the
actual Final Average Net Ethanol Selling Price for the preceding month.  If the Estimated Average Net Ethanol Selling
Price exceeded the Final Average Net Ethanol Selling Price, then LS will refund
to ADM the overpayments that it previously received from ADM, within fourteen
(14) days after the completion of this actual and estimated selling price
reconciliation.  In lieu of LS directly
refunding any amounts to ADM by separate payment, and ADM directly refunding
any amounts to LS by separate payment, under this Section 21(e), the parties
may offset the required amounts on their next respective monthly payments.

On the other hand, if the
Estimated Average Net Ethanol Selling Price was less than the actual Final
Average Net Ethanol Selling Price, then ADM will pay LS the additional amounts
owed to LS, within fourteen (14) days after the completion of this actual and
estimated selling price reconciliation.

22.           MONTHLY MEETINGS.  Representatives of LS and ADM
will meet on a monthly basis to discuss issues related to this Agreement.  It is the intent of both LS and ADM that
these monthly meetings be conducted in a manner that complies with all
applicable state and federal laws.

23.           MONTHLY RECONCILIATION OF SHIPMENT VOLUMES.  On a monthly basis, LS and ADM will compare
and reconcile their information related to the volumes of ethanol shipped from
the LS Production Facilities, in order to minimize disputes and disagreements
between them under this Agreement, and in order to provide more accurate
information for calculating the Average Net Ethanol Selling Price under Section
20 of this Agreement.

In the event that the
parties are unable to agree on which party’s numbers are correct for any month,
the average of the parties’ numbers for such month shall be used unless either
party demands resolution of the issue pursuant to Section 31 of this Agreement.

24.           AUDITING OF ADM’S BOOKS AND
RECORDS.

(a)           Audit of Records.  During the term of this Agreement, LS may either
periodically inspect or periodically require that quarterly or annual audits or
reviews performed upon those books and records of ADM directly related to the
ethanol bought and sold under this Agreement. 
The audits or reviews shall be performed in accordance with generally
accepted accounting principals by an independent certified public accounting
firm selected by LS.  The purposes of the
audits shall be to confirm the accuracy and completeness of information provided
by ADM to LS, the Average Net Ethanol Selling Price, ADM’s sales and shipment
volumes for ethanol purchased under this Agreement, and to verify any other
information related to this Agreement.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 10
 

LS shall be responsible
for any accounting fees incurred during such audits or reviews.

(b)           Confidentiality Obligations.  Any such
independent public accountants hired by LS will be subject to the same
confidentiality obligations that LS is subject to under Section 26 of this
Agreement.   LS agrees to inform its
accountants of those confidentiality obligations.

(c)           Challenges. 
Any disputes arising from the audit or review of ADM’s books and records
shall be resolved pursuant to Section 31 hereof.

25.           FINANCIAL INFORMATION. 
On a quarterly basis, LS will provide ADM with copies of current balance
sheets, income statements, and statements of cash flows (audited if available)
related to LS.  However, for each quarter
during which ADM is a limited partner of LS, the requirements of this Section
25 shall be deemed satisfied by virtue of ADM’s access to such information in
its capacity as a limited partner of LS.

26.           HANDLING OF CONFIDENTIAL INFORMATION.  The parties
acknowledge that they will be exchanging information about their businesses
under this Agreement which is confidential and proprietary, and the parties
agree to handle that confidential and proprietary information in the manner
described in this Section 26.

(a)           Definition of Confidential Information.  For purposes
of this Agreement, the term “Confidential Information” will mean information
related to the business operations of LS or ADM that meets all of the following
criteria:

(i)            The information must
not be generally known to the public, and must not be a part of the public
domain.

(ii)           The information must
belong to the party claiming it is confidential, and must be in that party’s
possession.

(iii)          The information must have
been protected and safeguarded by the party claiming it is confidential by
measures that were reasonable under the circumstances before the information
was disclosed to the other party.

(iv)          The disclosure of the
information to third parties must be likely to result in adverse consequences
to the party claiming it is confidential.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 11
 

(v)           Written information
must be clearly designated in writing as “CONFIDENTIAL INFORMATION” by the
party claiming it is confidential before it is disclosed to the other party,
except that all information about costs and prices will always be considered
Confidential Information under this Agreement, without the need for
specifically designating it as such.

(vi)          Verbal Confidential
Information which is disclosed to the other party must be summarized in
writing, designated in writing as “CONFIDENTIAL INFORMATION,” and transmitted
to the other party within ten (10) days of the verbal disclosure.

(b)           Limitations on the Use of Confidential Information. 
Each party agrees that it will not use any Confidential Information that
it obtains about the other party for any purpose, other than to perform its
obligations under this Agreement or make disclosures to the
Securities and Exchange Commission (“SEC”) required by law in the opinion of LS’
legal counsel.  The parties recognize that
Little Sioux Corn Processors, LLC, LS’s general partner, will file this
Agreement and disclosures regarding this Agreement with the SEC by LS and this
Agreement will therefore be publicly available to the extent that the
provisions are not eligible for protection via a confidential treatment
request.  Little Sioux Corn Processors,
LLC will request confidential treatment for the terms of this Agreement that
disclose the payments to be made to ADM hereunder, and other information to the
extent that its legal counsel advises that any such other information contained
herein is eligible for confidential treatment by the SEC.  LS and Little Sioux Corn Processors, LLC
shall have no duty or responsibility to request confidential treatment if, in
the opinion of its legal counsel, confidential treatment is not available.

(c)           The Duty not to Disclose Confidential
Information.  The parties agree that they will not disclose
any Confidential Information about each other to any person or organization,
other than their respective legal counsel and accountants, without first
getting written consent to do so from the other party.  This will be the case both while this
Agreement is in effect and for a period of five (5) years after it has been
terminated.

(d)           The Duty to Notify the Other Party in Cases of Improper Use or
Disclosure.  Each party agrees to immediately notify the
other party if either party becomes aware of any improper use of or any
improper disclosure of the Confidential Information of the other party at any
time while this Agreement is in effect, and for a period of five (5) years
after it has been terminated.

(e)           Protection of the Confidential Information. 
Each party agrees to develop effective procedures for protecting the
Confidential Information that it obtains from the 

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 12
 

other party, and to
implement those procedures with the same degree of care that it uses in
protecting its own Confidential Information.

(f)            Return of the Confidential
Information.  Immediately upon the termination of this
Agreement, each party agrees to return to the other party all of the other
party’s Confidential Information that is in its possession or under its
control.

27.           RIGHT OF OFFSET. 
A party hereto (the “Withholding Party”) has the right to withhold
payments otherwise required hereby from the other party hereto (the “Withheld
Party”) as an offset against any payments that the Withheld Party fails to make
under Sections 13 and 21 hereof.  If a
Withholding Party exercises its right of offset at any time, the Withheld Party
may request a written explanation from the Withholding Party that includes the
amount of the offset claimed and the basis for the exercise of the offset.  Upon receiving such written notice for an
explanation, the Withholding Party shall promptly provide a reasonably detailed
explanation to the Withheld Party.

28.           INSURANCE.

(a)           LS’s Insurance.  During the entire term of this
Agreement, LS will maintain insurance coverage which is standard, in the
reasonable opinion of ADM, for a company of its type and size which is engaged
in the business of producing and selling ethanol.  At a minimum, LS’s insurance coverage must
include:

(i)            Comprehensive General Product and
Public Liability Insurance,             naming ADM as an additional named
insured, with liability limits of at least five million dollars ($5,000,000) in
the aggregate.

(ii)           Property and Casualty Insurance adequately insuring the LS Production
Facilities and LS’s other assets against theft, damage, and destruction, on a
replacement cost basis.

(iii)          Workers’ Compensation Insurance, to the extent required by law.

On or before the
Effective Date of this Agreement, LS will provide ADM with a Certificate of
Insurance Coverage verifying that insurance coverage complying with the
requirements of this Section 28 is in place.

LS will not change its
insurance coverage during the term of this Agreement, except to increase it or
enhance it, without the prior written consent of ADM.

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 13
 

(b)           ADM’S Insurance.  ADM now has, and will maintain during the
entire term of this Agreement, comprehensive general liability insurance with
liability limits of at least five million dollars ($5,000,000) in the
aggregate.  During the entire term of
this Agreement, LS will be an additional named insured under ADM’s
comprehensive general liability insurance policy.

29.           MUTUAL INDEMNIFICATION.  If any third
party makes a claim against ADM or any person or organization related to ADM as
a result of the actions or omissions of LS or any person or organization
related to LS, including but not limited to claims related to the quality of
the ethanol produced by LS, then LS agrees to indemnify ADM and its related
persons and organizations, and to hold all of them harmless from any
liabilities, damages, costs, and/or expenses, including costs of litigation and
reasonable attorneys’ fees, which they incur as a result of any such claims
made against them by third parties.

The indemnification
obligations of the parties under this Agreement will be mutual, and ADM
therefore makes the same commitment to indemnify LS and its related persons or
organizations that LS has made to ADM in the proceeding paragraph.

30.           SURVIVAL OF REPRESENTATIONS, WARRANTIES, AGREEMENTS, AND CLAIMS.  All representations, warranties, and agreements
made in connection with this Agreement will survive the termination of this
Agreement.  The parties will therefore be
able to pursue claims related to those representations, warranties, and
agreements after the termination of this Agreement, unless those claims are
barred by the applicable statutes of limitation.

Similarly, any claims
that the parties have against each other that arise out of actions or omissions
that take place while this Agreement is in effect will survive the termination
of this Agreement.  This means that those
claims may be pursued by the parties even after the termination of this
Agreement, unless those claims are barred by the applicable statutes of
limitation.

31.           ALTERNATIVE DISPUTE RESOLUTION AND ATTORNEYS FEES AND
COSTS

(a)           Mediation. 
Any dispute, controversy or claim arising out of or relating to this
Agreement which cannot be independently resolved by the parties shall then be
attempted to be resolved by mediation with a single mediator selected by mutual
agreement of the parties.  If the parties
are unable to agree on a mediator, such mediation, including without
limitation, the selection of the mediator, shall be administered under the
Commercial Mediation Rules of the American Arbitration Association

(b)           Attorney’s Fees and Costs. 
The parties agree that the prevailing partying in any dispute resolution
proceedings related to this Agreement shall be entitled to collect that 

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 14
 

portion of its costs,
expenses, and reasonable attorneys’ fees from the other party that the award of
the court bears to the amount claimed by the prevailing party in the proceeding.  The same shall be true if one of the parties
incurs costs, expenses, or attorneys’ fees in connection with the enforcement
or the protection of its rights under this Agreement, as a result of an uncured
breach by the other party.  The breaching
party shall reimburse the other party for costs, expenses, and reasonable
attorneys’ fees incurred after the expiration of the applicable cure period,
regardless of whether or not the enforcement or the protection of the rights of
the other party involved judicial proceedings or other formal dispute
resolution proceedings.

32.           TITLE AND RISK OF LOSS.  With regard to
the ethanol sold to ADM by LS under this Agreement, title to and risk of loss
for such ethanol will pass from LS to ADM when the ethanol leaves the premises
(not the Production Facilities) of LS.

33.           GOVERNING LAW AND FORUM.  The parties
agree that the Agreement will be governed by, interpreted under, and enforced
in accordance with Iowa law and hereby consent to the jurisdiction of the
United States District Court for the Northern District of Iowa sitting in Sioux
City, Iowa whenever federal jurisdictional requirements are otherwise
satisfied, and alternatively the jurisdiction of the Iowa District Court in and
for Cherokee County District Court, sitting in Cherokee, Iowa, for the
resolution of all disputes and legal proceedings arising hereunder, and the
parties waive any defense they might otherwise have to venue.

34.           NOTICES.  All notices related to this Agreement which
relate to breaches of this Agreement, indemnification claims or other claims
being made under this Agreement, challenges to the books and records of the
parties, or the termination of this Agreement (the “Significant Notices”) must
be in writing, and must be delivered personally or sent by certified or
registered mail, return receipt requested. 
All Significant Notices will be effective, and will be deemed to have
been received, upon the actual receipt of the Significant Notice by its intended
recipient, meaning either LS or ADM.

Subject to change upon
ten (10) days written notice to the other party, all written notices to LS
provided for in this Agreement will be addressed as follows:

Steve Roe

President

Little Sioux Corn
Processors, LLC

4808 F Avenue

Marcus, IA 51035

with a copy to:

William E. Hanigan, Esq.

BrownWinick

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 15
 

.666 Grand Ave., Suite
2000

Des Moines, IA 50309

and notices to ADM will
be addressed as follows:

Archer Daniels Midland
Company

4666 Faries Parkway

Decatur, Illinois 62526

Attn:  Martin A. Lyons

Archer Daniels Midland
Company

4666 Faries Parkway

Decatur, Illinois 62526

Attn:  General Counsel

Written notices required
or permitted under this Agreement which are not Significant Notices may be hand
delivered, sent by mail, or sent via facsimile. 
These written notices will be effective, and will be deemed to have been
received, upon the actual receipt of the written notices by their intended
recipients, meaning either LS or ADM.

35.           ASSIGNMENT; SUCCESSORS AND ASSIGNS.  Because of ADM’s
concerns about product quality, and because of LS’s concerns about the proper
performance of the services to be provided by ADM, neither party may assign its
rights or obligations under this Agreement without the written consent of the
other party, which consent will not be unreasonably withheld.  This Agreement will be binding on the
successors of the parties, and their assigns.

36.           NO WAIVER.  If any party to this Agreement fails to
insist upon strict performance of any obligation under this Agreement, that
failure will not result in a waiver of that party’s right to demand strict
performance in the future.  This will still
be the case, no matter how long the failure to insist upon strict performance
continues.

37.           ENTIRE AGREEMENT.  This Agreement, and the other
documents related to the business transactions described in this Agreement
which are referred to either generally or specifically in this Agreement, set
out the entire agreement between the parties regarding the business
transactions described in this Agreement. 
This Agreement and those other documents supersede all prior
understandings between the parties with respect to the subject matter of this
Agreement.  The parties agree that there
are no other oral or written understandings or agreements between them
regarding the subject matter of this Agreement.

38.           AMENDMENT, MODIFICATION, OR WAIVER.  No amendment,
modification, or waiver of any provision of this Agreement or any other related
document will be 

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 16
 

effective unless it is
made in writing, unless it is signed by the parties to be bound by it, and
unless it clearly specifies the extent and nature of the amendment,
modification, or waiver.

39.           SEVERABILITY.  If any provision of this Agreement
or any other related document is held to be invalid or unenforceable under any
applicable law, that holding will not affect the validity or enforceability of
the rest of this Agreement, or the other related document.  Also, any provision of this Agreement or any
other related document which is held to be invalid or unenforceable will not be
completely invalidated, but will instead be considered amended to the extent
necessary to remove the cause of the invalidity or unenforceability.

40.           INTERPRETATION.  This Agreement and any other
documents related to it will be interpreted in a fair and neutral manner,
without favoring one party over the other. 
No provision of this Agreement or any other document related to it will
be interpreted for or against either party because the provision was drafted by
that party, or its legal representative.

41.           UNDERSTANDING OF AND VOLUNTARY EXECUTION OF THE AGREEMENT. 
The parties acknowledge and agree that they have read this Agreement,
that they understand it, and that they are entering into it willingly and
voluntarily.  The parties further
acknowledge that they either consulted with their respective legal counsel, or
had ample opportunity to consult with their respective legal counsel, before
entering into this Agreement.

42.           HEADINGS AND CAPTIONS.  The headings
and captions of the sections and subsections of this Agreement are inserted for
convenience of reference only, and do not constitute part of the Agreement.

43.           SUPERSEDING OF OTHER AGREEMENTS.  It is the
intent of the parties that this Agreement be consistent with any other
documents or agreements related to the same subject matter covered in this
Agreement.  However, in the event of any
inconsistencies, the parties agree that this Agreement will supersede and take
priority over the other inconsistent documents or agreements, except in cases
where there is specific contract language to the contrary which has been agreed
upon by both parties.

IN
WITNESS WHEREOF,
the parties have executed this Agreement on the day and year set forth above,
to be effective as of the Effective Date.

	
  ARCHER DANIELS MIDLAND CO.

  	
  LSCP, L.L.L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By: 

  	
    /s/
  Martin A. Lyons

  	
   

  	
  By: 

  	
  Little Sioux Corn Processors, LLC

  
	
   

  	
    March 12, 2007

  	
  Its: 

  	
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
  /s/ Steve Roe,
  President

  	
   

  

 

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 17
 

 

	
  

  	
   

  	
  Steve Roe,
  President

  

 

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 18
 

EXHIBIT A

ORDERING
AND SHIPPING PROCEDURES

* Portions of this exhibit have been omitted
pursuant to a request for confidential treatment and have been filed with the
United States Securities and Exchange Commission.

 19Exhibit
10.3

DISTILLER’S
GRAIN MARKETING AGREEMENT

THIS
DISTILLER’S GRAIN MARKETING AGREEMENT (the “Agreement”), is
entered into effective as of 3-20-07_, 20  07, by Akron Riverview Corn Processors,
LLC, an Iowa Limited Liability Company (“Seller”), and Commodity Specialist
Company, a Delaware Corporation (“Buyer”).

W I T N E S S E T
H:

WHEREAS, Seller
desires to sell and Buyer desires to purchase the Distiller’s Dried Grains with
Solubles (“DDGS”) (hereinafter DDGS is sometimes referred to as the “Products”)
output of the ethanol production plant which Seller owns in Akron, Iowa and
which is to be shipped by railcar; and

WHEREAS, Seller
and Buyer wish to agree in advance of the sale and purchase of the Products to
the price formula, payment, delivery and other terms thereof in consideration
of the mutually promised performance of the other;

NOW, THEREFORE, in
consideration of the promises and the mutual covenants and conditions herein
contained, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged by both parties, it is hereby agreed:

1.             BUYER PERFORMANCE.  Buyer agrees to perform the services that it
provides for Seller in a professional and competent manner.

2.             PURCHASE AND SALE.  Seller agrees to sell to Buyer and Buyer
agrees to purchase from Seller the entire bulk feed grade DDGS output from the
Plant which is to be shipped by railcar, subject to all terms and conditions
set forth in this Agreement.  Buyer shall
label all Products that are sold by Buyer and shall register all labels with
the states where such Products are sold.
All DDGS that is to be shipped
by any method other than railcar shall be sold by Seller and Buyer shall have
no responsibility with respect to such DDGS.

3.             TRADE RULES.  All purchases and sales made hereunder shall
be governed by the Feed Trade Rules of the National Grain and Feed Association
unless otherwise specified.  Said Trade
Rules, a copy of which is appended hereto as Exhibit A, shall, to the
extent applicable, be a part of this Agreement as if fully set forth herein.

4.             TERM AND
TERMINATION.

A.            The initial term of
this Agreement shall be for one year
commencing as of substantial completion and start-up of production of the Plant
(the “Effective Date”).  Start-up is
anticipated to occur in 2008.  Unless
earlier terminated in accordance with this 

Agreement, this Agreement shall be automatically
renewed for successive one (1) year terms thereafter unless either party gives
written notice to the other party of its election not to renew not later than
60 days prior to the expiration of the then current term.

B.            In the event that during the term of this
Agreement, or any renewal thereof, Seller materially changes the quality of the
Products produced at the Plant through the application of new technology and
equipment, either Seller or Buyer shall have the right to terminate this
Agreement upon 60 days notice. Notwithstanding such termination, Seller shall
remain liable to provide Products to Buyer in sufficient quantities, either
through the Plant or buying such product, to honor any sales contract that
Buyer may have to which Seller has consented.

5.             DELIVERY AND TITLE.

A.  The place of
delivery for all Products sold pursuant to this Agreement shall be FOB
Plant.  Buyer and Buyer’s agents shall be
given access to Seller’s Plant in a manner and at all times reasonably
necessary and convenient for Buyer to take delivery as provided herein.  Buyer shall schedule the loading and shipping
of all outbound Products purchased hereunder which is shipped by rail.  All labor and equipment necessary to load
rail cars shall be supplied by Seller without charge to Buyer.  Seller agrees to handle all Products in a good
and workmanlike manner in accordance with Buyer’s reasonable requirements and
in accordance with normal industry practice. 
Seller shall maintain the rail loading facilities in safe operating
condition in accordance with normal industry standards.

B.  Seller shall be responsible at all times for the quantity,
quality and condition of any Products in storage at the Plant. Seller shall not
be responsible for the quantity, quality and condition of any of Products
stored by Buyer at locations other than the Plant.

C.  Buyer shall give to Seller a schedule of
quantities of the Products to be removed by rail with sufficient advance notice
reasonably to allow Seller to provide the required services.  Seller shall provide the labor, equipment and
facilities necessary to meet Buyer’s loading schedule and, except for any
consequential or indirect damages, shall be responsible for Buyer’s actual
costs or damages resulting from Seller’s failure to do so.  Buyer shall order and supply rail cars as
scheduled for rail shipments.  All
freight charges shall be the responsibility of Buyer and shall be billed
directly to Buyer.

D.  Buyer shall provide loading orders as
necessary to permit Seller to maintain Seller’s usual production schedule,
provided, however, that Buyer shall not be responsible for failure to schedule
removal of the DDGS unless Seller shall have provided to Buyer production
schedules as follows:  Five (5) days
prior to the beginning of each calendar month during the term hereof, Seller
shall provide to Buyer a tentative schedule for production in the next calendar
month which is to be shipped by railcar. 
Seller shall inform Buyer daily of inventory and production status. For
purposes of this paragraph, 

 2
 

notification will
be sufficient if made by e-mail or facsimile as follows:

If to Buyer, to
the attention of Steve Markham, Facsimile number 612-330-9894 or email to smarkham@csc-world.com,
and

If to Seller, to
the attention of Steve Galles, Facsimile number 712-376-2815 or email to
steve.galles@littlesiouxcornprocessors.com,

Or to such other
representatives of Buyer and Seller as they may designate to the other in
writing.

E.  Title, risk of loss and full shipping
responsibility shall pass to Buyer upon loading the DDGS into rail cars and
delivering to Buyer of the bill of lading for each such shipment.

6.             PRICE AND PAYMENT

A.  Buyer agrees to pay Seller as follows:  for all Products removed by Buyer from the
Plant a price equal to ninety eight (98%) of the FOB Plant price actually
received by Buyer from its customers, with 2% to be retained by Buyer as its
service fee, provided, however, that Buyer’s service fee shall not be less
$1.50 per ton nor shall it exceed $2.00 per ton.  The calculation on the minimum and maximum
fee payable to Buyer shall be made with respect to each weekly payment and will
not be carried over to any subsequent payments. By way of illustration, if the
2% to be retained by Buyer for any given week is less than $1.50 per ton, the
fee to be retained by Buyer shall then be $1.50 per ton.  If in subsequent
weeks the 2% is greater than $1.50 but less than $2.00, the fee shall be the
2%.  Conversely, if the 2% for any period exceeds $2.00, the fee shall
then be $2.00 per ton. If in subsequent weeks the 2% is less than $2.00 but
greater than $1.50, the fee shall be the 2%.  For purposes of this
provision, the FOB Plant price shall be the actual sale price, less all freight
costs incurred by Buyer in delivering the Product to its customer.

B.            Buyer agrees that it shall not sell Products for
delivery without the prior oral or written consent of Seller.  Buyer agrees to use commercially reasonable
efforts to achieve the highest resale price available under prevailing market
conditions.  Seller’s sole and exclusive
remedy for breach of Buyer’s obligations hereunder shall be to terminate this
Agreement. Buyer shall collect all applicable state tonnage taxes on Products
sold by Buyer and shall remit to the appropriate governmental agency.

B.  Within ten (10) days following receipt of
certified weight certificates, which certificates shall be presented to Buyer
each Thursday for all shipments during the preceding week, Buyer shall pay
Seller the full price, determined pursuant to paragraph 6(A) above, for all
properly documented shipments.  Buyer
agrees to maintain accurate sales records and to provide such records to Seller
upon request.  Seller shall have the
option to audit Buyer’s sales invoices at any time during normal business hours
and 

 3
 

during the term of
this Agreement.  If any such audit
reveals a deficiency in payment due Seller, Buyer shall immediately pay Seller
the amount of such deficiency plus interest calculated from the date such
payment should have been made at the prime rate then in effect as represented
in the Wall Street Journal.

7.             QUANTITY AND
WEIGHTS.

A.  It is understood that the output of Products
shall be determined by Seller’s production schedule and that no warranty or
representation has been made by Seller as to the exact quantities of Products
to be sold pursuant to this Agreement.

B.  The quantity of Products delivered to Buyer
from Seller’s Plant shall be established by weight certificates obtained from
scale at the Plant which is certified as of the time of weighing and which
complies with all applicable laws, rules and regulations or in the event that
the scale at the Plant is inoperable then at other scales which are certified
as of the time of weighing and which comply with all applicable laws, rules and
regulations. The outbound weight certificates shall be determinative of the
quantity of Products for which Buyer is obligated to pay pursuant to Section 6.

8.             QUALITY.

A.  Seller understands that Buyer intends to sell
the Products purchased from Seller as a primary animal feed ingredient and that
said Products are subject to minimum quality standards for such use.  Seller agrees and warrants that the Products
produced at its Plant and delivered to Buyer will comply with current industry
standards in the feed trade.

B.  Seller warrants that all Products, unless the
parties agree otherwise, sold to Buyer hereunder shall, at the time of delivery
to Buyer, conform to the following minimum quality standard:

	
  

  	
   

  	
  Protein

  	
   

  	
  Fat

  	
   

  	
  Fiber

  	
   

  	
  Moisture

  	
   

  	
  Ash

  	
   

  
	
   

  	
   

  	
  Min

  	
   

  	
  Max

  	
   

  	
  Min

  	
   

  	
  Max

  	
   

  	
  Min

  	
   

  	
  Max

  	
   

  	
  Min

  	
   

  	
  Max

  	
   

  	
  Min

  	
   

  	
  Max

  	
   

  
	
  DDGS

  	
   

  	
  25

  	
   

  	
   

  	
   

  	
  9

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  15

  	
   

  	
   

  	
   

  	
  12

  	
   

  	
   

  	
   

  	
  6

  	
   

  

 

The standard for DDGS will be determined on an “as
is” basis rather than a dry weight basis. Minimum quality standards for
Solubles shall be agreed upon by the parties at a subsequent date.  Buyer may amend the foregoing minimum
quality standard upon 90 days written notice to Seller; provided, however, such
amended minimum quality standards are acceptable under current industry
standards in the feed trade industry at the time of amendment.

C.  Payment of invoice does not waive Buyer’s rights if goods do not comply
with terms or specifications of this Agreement. Unless otherwise agreed
between the parties to this Agreement, and in addition to other remedies
permitted by law, the Buyer may, without 

 4
 

obligation to pay,
reject either before or after delivery, any of the Products which when
inspected or used fail in a material way to conform to this Agreement.  Should any of the Products be seized or
condemned by any federal or state department or agency for any reason except
noncompliance by Buyer with applicable federal or state requirements, such
seizure or condemnation shall operate as a rejection by Buyer of the goods
seized or condemned and Buyer shall not be obligated to offer any defense in
connection with the seizure or condemnation. When rejection occurs before or
after delivery, at its option, Buyer may:

(1) Dispose of the
rejected goods after first offering Seller a reasonable opportunity of
examining and taking possession thereof, if the condition of the goods
reasonably appears to Buyer to permit such delay in making disposition; or

(2) Dispose of the
rejected goods in any manner directed by Seller which Buyer can accomplish
without violation of applicable laws, rules, regulations or property rights; or

(3) If Buyer has
no available means of disposal of rejected goods and Seller fails to direct
Buyer to dispose of it as provided herein, Buyer may return the rejected goods
to Seller, upon which event Buyer’s obligations with respect to said rejected
goods shall be deemed fulfilled.  Title
and risk of loss shall pass to Seller promptly upon rejection by Buyer.

(4) Seller shall
reimburse Buyer for all costs reasonably incurred by Buyer in storing,
transporting, returning and disposing of the rejected goods. Buyer shall have
no obligation to pay Seller for rejected goods and may deduct reasonable costs
and expenses to be reimbursed by Seller from amounts otherwise owed by Buyer to
Seller.

(5) If Seller
produces Products which comply with the warranty in Section C above but which
do not meet applicable industry standards, Buyer agrees to purchase such
Products for resale but makes no representation or warranty as to the price at
which such Products can be sold.  If the
Products deviates so severely from industry standard as to be unsalable, then
it shall be disposed of in the manner provided for rejected goods in Section C
above.

D.  If Seller knows or reasonably suspects that
any of the Products produced at its Plant are adulterated or misbranded, or
outside of industry quality standards, Seller shall promptly so notify Buyer so
that such Products can be tested before entering interstate commerce.  If Buyer knows or reasonably suspects that
any of the Products produced by Seller at its Plant are adulterated, misbranded
or outside of industry quality standards, then Buyer may obtain independent
laboratory tests of the affected goods. If such goods are tested and found to
comply with all warranties made by Seller herein, then Buyer shall pay all
testing costs; and if the goods are found not to comply with such warranties,
Seller will pay all testing costs.

 5
 

9.             RETENTION OF
SAMPLES.  Seller will take an origin
sample of Products from each rail car before it leaves the Plant using standard
sampling methodology.  Seller will label
these samples to indicate the date of shipment and the  railcar number involved.  Seller will also retain the samples and
labeling information for no less than 
one year.

10.           INSURANCE.

A.  Seller warrants to Buyer that all employees
engaged in the removal of the Products from Seller’s Plant shall be covered as
required by law by worker’s compensation and unemployment compensation
insurance.

B.  Seller agrees to maintain throughout every
term of this Agreement comprehensive general liability insurance, including
product liability coverage, with combined single limits of not less than
$2,000,000.  Seller’s policies of
comprehensive general liability insurance shall be endorsed to require at least
thirty (30) days advance notice to Buyer prior to the effective date of any
decrease in or cancellation of coverage. 
Seller shall cause Buyer to be named as an additional insured on Seller’s
insurance policy and shall provide a certificate of insurance to Buyer to
establish the coverage maintained by Seller not later than fourteen (14) days
prior to completion and start-up of production of the Plant.

C.  Buyer agrees to carry such insurance on its
vehicles operating on Seller’s property as Seller reasonably deems
appropriate.  The parties acknowledge
that Buyer may elect to self insure its vehicles.  Upon request, Buyer shall provide certificate
of insurance to Seller to establish the coverage maintained by Buyer.

D.  Notwithstanding the foregoing, nothing herein
shall be construed to constitute a waiver by either party of claims, causes of
action or other rights which either party may have or hereafter acquire against
the other for damage or injury to its agents, employees, invitees, property,
equipment or inventory, or third party claims against the other for damage or
injury to other persons or the property of others.

11.           REPRESENTATIONS AND
WARRANTIES

A.  Seller represents and warrants that all of
the Products delivered to Buyer shall not be adulterated or misbranded within
the meaning of the Federal Food, Drug and Cosmetic Act and may lawfully be
introduced into interstate commerce pursuant to the provisions of the Act.  Seller further warrants that the Products
shall fully comply with any applicable state laws governing quality, naming and
labeling of product.  Payment of invoice
shall not constitute a waiver by Buyer of Buyer’s rights as to goods which do
not comply with this Agreement or with applicable laws and regulations.  EXCEPT AS
SPECIFICALLY STATED IN THIS AGREEMENT, SELLER MAKES NO WARRANTY OR
REPRESENTATION, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTY
OF MERCHANTABILITY OR 

 6
 

FITNNESS
FOR A PARTICULAR PURPOSE.

B.  Seller represents and warrants that the
Products delivered to Buyer shall be free and clear of liens and encumbrances.

12.           EVENTS OF DEFAULT.  The occurrence of any of the following shall
be an event of default under this Agreement: 
(1) failure of either party to make payment to the other when due; (2)
default by either party in the performance of the covenants and agreements set
forth in this Agreement; (3) if either party shall become insolvent, or make a
general assignment for the benefit of creditors or to an agent authorized to
liquidate any substantial amount of its assets, or be adjudicated bankrupt, or
file a petition in bankruptcy, or apply to a court for the appointment of a
receiver for any of its assets or properties with or without consent, and such
receiver shall not be discharged within sixty (60) days following appointment.

13.           REMEDIES.  Upon the happening of an Event of Default,
the parties hereto shall have all remedies available under applicable law with
respect to a Event of Default by the other party.  Without limiting the foregoing, the parties
shall have the following remedies whether in addition to or as one of the
remedies otherwise available to them; (1) to declare all amounts owed
immediately due and payable; and (2) immediately to terminate this Agreement
effective upon receipt by the party in default of the notice of termination,
provided, however, the parties shall be allowed 10 days from the date of
receipt of notice of default for to cure any default. Notwithstanding any other
provision of this Agreement, Buyer may offset against amounts otherwise owed to
Seller the price of any product which fails to conform to any requirements of
this Agreement.

14.           FORCE MAJEURE.  Neither Seller nor Buyer will be liable to
the other for any failure or delay in the performance of any obligation under
this Agreement due to events beyond its reasonable control, including, but not
limited to, fire, storm, flood, earthquake, explosion, act of the public enemy,
riots, civil disorders, sabotage, strikes, lockouts, labor disputes, labor
shortages, war stoppages or slowdowns initiated by labor, transportation
embargoes, failure or shortage of materials, acts of God, or acts or
regulations or priorities of the federal, state or local government or branches
or agencies thereof.

15.           INDEMNIFICATION.

A.  Seller shall
indemnify, defend and hold Buyer and its officers, directors, employees and
agents harmless, from any and all losses, liabilities, damages, expenses (including
reasonable attorneys’ fees), costs, claims, demands, that Buyer or its
officers, directors, employees or agents may suffer, sustain or become subject
to, or as a result of (i) any misrepresentation or breach of warranty, covenant
or agreement of Seller contained herein or (ii) the Seller’s negligence or
willful misconduct.

B.  Buyer shall
indemnify, defend and hold Seller and its officer, directors, employees and
agents harmless, from any and all losses, liabilities, damages, expenses 

 7
 

(including reasonable
attorneys’ fees), costs, claims, demands, that Seller or its officers,
directors, employees or agents may suffer, sustain or become subject to, or as
a result of (i) any misrepresentation or breach of warranty, covenant or
agreement of Buyer contained herein or (ii) the Buyer’s negligence or willful
misconduct.

C.  Where such
personal injury, death or loss of or damage to property is the result of
negligence on the part of both Seller and Buyer, each party’s duty of
indemnification shall be in proportion to the percentage of that party’s
negligence or faults.

D.  Seller
acknowledges that in order to maximize the total revenue to be generated
through the sale of the Products, Buyer may take positions by selling Products
in anticipation of Seller providing the Products provided the Seller has given
verbal or written consent. 
Notwithstanding the fact that Seller’s obligation is to provide Buyer
with the output of the Plant the parties acknowledge that Buyer may suffer
losses as a result of positions taken by Buyer if Seller discontinues
operations for any reason whatsoever including Force Majeure.  Therefore, Seller shall indemnify, defend and
hold Buyer and its officers, directors, employees and agents harmless from any
and all losses, liabilities, damages, expenses (including reasonable attorney’s
fees), costs, claims, demands that Buyer or its officers, directors, employees,
or agents may suffer, sustain or become subject to as a result of any sale or
purchase of Products taken by Buyer in anticipation of Seller delivering the
Porducts hereunder, provided Buyer has taken commercially reasonable steps to
avoid the loss.  Seller shall not be
liable for any loss resulting from Seller discontinuing operations related to a
position taken by Buyer for deliverywithout the consent of Seller.

16.           GOVERNMENTAL ACTION.  The parties recognize that the value of the
Products could change as a result of various governmental programs, be they
foreign or domestic.  In the event that a
significant value change of the Products as a result of any such governmental
program, Buyer may request re-negotiation of the contract price for the
Products by providing written notice to Seller. 
Buyer shall be required to demonstrate that the value of the Products
has significantly changed in the market. 
Should such a change take place, the parties agree to negotiate, in good
faith, a revised sale price for the Products. 
If, after a good faith effort, the parties are unable to agree on a new
price within the 90 day period immediately following notice to the other party,
then in such event and notwithstanding the other provisions hereof, Buyer may
terminate this Agreement upon 90 days prior written notice.

17.           RELATIONSHIP OF
PARTIES.  This Agreement creates no
relationship other than that of buyer and seller between the parties
hereto.  Specifically, there is no
agency, partnership, joint venture or other joint or mutual enterprise or
undertaking created hereby.  Nothing
contained in this Agreement authorizes one party to act for or on behalf of the
other and neither party is entitled to commissions from the other.

 8
 

18.           MISCELLANEOUS.

A.  This writing is intended by the parties as a
final expression of their agreement and a complete and exclusive statement of
the terms thereof.

B.  No course of prior dealings between the
parties and no usage of trade, except where expressly incorporated by
reference, shall be relevant or admissible to supplement, explain, or vary any
of the terms of this Agreement.

C.  Acceptance of, or acquiescence in, a course
of performance rendered under this or any prior agreement shall not be relevant
or admissible to determine the meaning of this Agreement even though the
accepting or acquiescing party has knowledge of the nature or the performance
and an opportunity to make objection.

D.  No representations, understandings or
agreements have been made or relied upon in the making of this Agreement other
than as specifically set forth herein.

E.  This Agreement can only be modified by a
writing signed by all of the parties or their duly authorized agents.

F.  The paragraph headings herein are for
reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement.

G.  This Agreement shall be construed and
performed in accordance with the laws of the State of Iowa.

H.  The respective rights, obligations and
liabilities of the parties under this Agreement are not assignable or delegable
without the prior written consent of the other party.

I.  Notice shall be deemed to have been given to
the party to whom it is addressed ninety-six (96) hours after it is deposited
in certified U.S. mail, postage prepaid, return receipt requested, addressed as
follows:

	
   

  	
  Buyer:

  	
  Commodity Specialist Company

  
	
   

  	
  310 Grain
  Exchange Bldg.

  
	
   

  	
  400 South Fourth
  Street

  
	
   

  	
  Minneapolis,
  Minnesota 55415

  
	
   

  	
  ATTN: Steve J.
  Markham

  
	
   

  	
   

  
	
   

  	
  Seller:

  	
  Akron Riverview Corn Processors, LLC

  
	
   

  	
  4808 F. Avenue

  
	
   

  	
  Marcus, Iowa
  51035

  
	
   

  	
  ATTN: Steve Roe

  
	
   

  	
   

  
	
   

  	
  Copy To:

  	
  Amy Piepmeier, Esq.

  
	
   

  	
  Brown, Winick,
  Graves, Gross

  

 

 9
 

 

	
  

  	
  Baskerville and
  Schoenbaum, PLC

  
	
   

  	
  Suite 2000 Ruan
  Center

  
	
   

  	
  666 Grand Avenue

  
	
   

  	
  Des Moines, Iowa
  50309

  

 

IN WITNESS
THEREOF, the parties have caused this Agreement to be executed the day and year
first above written.

	
   

  	
  COMMODITY SPECIALISTS COMPANY

  
	
   

  	
   

  
	
   

  	
  By

  	
        /s/ Philip
  Nindau

  	
   

  
	
   

  	
  Title

  	
      Co-President

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AKRON RIVERVIEW CORN PROCESSORS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
        /s/ Stephen G.
  Roe

  	
   

  
	
   

  	
  Title

  	
      President

  	
   

  
					

 

 10

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