Document:

EXHIBIT
10.10

	
  GOE/LOL

  	
  SUBORDINATED
  PROMISSORY NOTE

  

RIGHTS OF THE HOLDER TO RECEIVE PAYMENTS HEREUNDER ARE SUBJECT TO
A SUBORDINATION AND INTERCREDITOR AGREEMENT (THE “SUBORDINATION AGREEMENT”)
DATED THE DATE  HEREOF EXECUTED BY
THE HOLDER REFERRED TO BELOW IN  FAVOR
OF COBANK, ACB, AS AGENT FOR THE LENDERS (TOGETHER WITH THE AGENT, THE “SENIOR
LENDERS”) PARTY TO THAT CERTAIN AMENDED AND RESTATED CREDIT AGREEMENT OF EVEN
DATE HEREWITH BETWEEN THE DEBTORS (AS DEFINED BELOW) AND THE SENIOR LENDERS
(THE “CREDIT AGREEMENT”).

SUBORDINATED PROMISSORY NOTE

	
  $17,000,000

  	
  June 30, 2006     

  
	
   

  	
  Minneapolis, Minnesota

  

 

FOR VALUE RECEIVED, Golden Oval Eggs, LLC, a Delaware limited liability
company Midwest Investors of Iowa, Cooperative, an Iowa Cooperative, and GOECA,
LP, a Delaware limited partnership (the “Debtors”), hereby promise to pay to
the order of Land O’ Lakes, Inc., a Minnesota cooperative corporation (the “Holder”),
at 4001 Lexington Avenue North, Arden Hills, MN 55126, or such other address or
such other holder as the Holder of this Note may specify, in lawful money of
the United States of America and in immediately available funds, the principal
sum of Seventeen Million Dollars ($17,000,000) together with interest on the outstanding principal from the date
hereof until paid in full at the applicable interest rate provided below.

This Note was issued pursuant to that certain Asset Purchase Agreement
dated as of May 23, 2006 (the “Agreement”) among the Debtors, the Holder and
others.  Except as otherwise defined in
this Note, all capitalized terms shall have the meanings provided in the
Agreement.

Repayment

1.             No payments of principal or interest shall be
due or payable under this Note until June 30, 2008, at which point Debtors
shall be obligated to begin making payments of $200,000 (with such payments
being applied against principal, which shall be defined as the original
principal amount of this Note plus all accrued but unpaid interest from the
date of issuance to June 30, 2008, or an estimated $21,080,000) and on the last
day of each succeeding calendar quarter through and including June 30, 2009
(the “Maturity Date”), at which point the
entire unpaid balance of principal and interest shall be due and payable
in full.  In addition to, and together
with, the above-described payments of principal, Debtors shall, commencing June
30, 2008, be obligated to pay interest on a monthly basis.

Interest; Warrant Coverage

2.             Subject to the other provisions of this Note,
interest shall accrue on the unpaid principal balance at the rate of twelve
percent (12%) per annum, computed on the basis of a 365-day year containing 12
months, counting the actual number of days in each month; provided, however,
that in the event Debtors fail to make a scheduled payment of principal and/or
interest at any time between June 30, 2008 and the Maturity Date, then the
applicable interest rate shall increase to twelve and a quarter percent
(12.25%); in the event Debtors fail to make a scheduled payment of principal
and/or interest for a second time between June 30, 2008 and the Maturity Date,
then the applicable interest rate shall increase to twelve and a half percent
(12.50%); in the event Debtors fail to make a scheduled payment of principal and/or
interest for a third time between June 30, 2008 and the Maturity Date, then the
applicable interest

 

rate shall increase to twelve and three quarters percent (12.75%); and
in any event, if there remains outstanding any amounts due under this Note
after June 30, 2009, then the applicable interest rate for the period from June
30, 2009 until this Note is paid in full, shall be the then applicable interest
rate plus one percent (1%); provided, however, that in no event shall the
applicable interest rate (including the “Default Rate” described in Section 6,
below) exceed thirteen and three quarters percent (13.75%).

In the event this Note has not been paid in full on or before the
Maturity Date, Holder shall have the right, at Holder’s option, to exercise that
number of units of the common membership interests of Debtor Golden Oval Eggs,
LLC equal to ten (10%) of the then-issued and outstanding units of such Debtor’s
common membership interest at an exercise price of $0.01 per share pursuant to
the Warrant issued by Debtor Golden Oval Eggs, LLC to Holder as of the date
hereof.

Optional Prepayments

3.             The Debtors may prepay in whole, or from time
to time in part, amounts due under this Note, without penalty or premium.  Any partial prepayments shall be applied first
to accrued interest and then to the installments of principal in the inverse
order of their maturity.

Payments of Principal and Interest

4.             The Debtors shall pay to the Holder, either
by certified check or by wire transfer of immediately available funds to such
account as Holder may specify in writing, all amounts payable to Holder in
respect of the principal of, or interest on, this Note, without any
presentation of this Note.  Each such
payment, when paid, shall be applied first to the payment of interest accrued
and unpaid on this Note, and second to the payment of the principal
hereof.  Notwithstanding any other
provision of this Note, in no event shall the interest due under this Note
exceed the highest rate permitted by applicable law.

Subordination; Security

5.             The indebtedness evidenced by this Note shall
be subordinated in accordance with and to the extent provided in the
Subordination Agreement referenced on the first page hereof.  Throughout the term of this Note, the Holder
shall receive from the Debtors copies of any periodic reports and other
information required of the Debtors by its Senior Lenders.  The Note shall be secured by a lien on all of
Debtors’ assets pledged pursuant to the Security Agreement of even date
herewith between Debtors and Holder which lien shall be fully subordinated to
the Senior Lenders, as more fully set forth in the Subordination Agreement
referenced above.

Default, Acceleration, Default Interest Rate

6.             For purposes of this Note, an “Event of
Default” shall mean Debtors’ failure to make a payment of interest or principal
when due; Debtors’ failure to provide Holder with the information more
particularly described in Section 7, below; Debtors’ failure to observe any
other covenant described in this Note; or Debtors’ default under the Credit
Agreement where such default results in the acceleration of amounts due
thereunder.

(a)           Upon the occurrence of any Event of Default,
and while such Event of Default is continuing, the Note shall accrue interest
at the interest rate that would otherwise then be applicable plus one
percent (1%) (the “Default Rate”), compounded and payable as provided in
Section 2 above.  In the event Debtors
have no outstanding obligations to the Senior Lenders and the Subordination
Agreement has been terminated, Holder may, upon an Event of Default, by

 2
 

 

written notice to Debtors, declare the indebtedness under this Note to
be immediately due and payable, whereupon the same shall become due and payable
without further notice or demand.

(b)           Upon the occurrence of any Event of Default,
in the event of a collection action or efforts pursued by Holder, Debtors shall
pay Holder’s out-of-pocket collection costs, including without limitation
reasonable attorneys’ fees and legal costs, whether or not any suit or
enforcement proceeding is commenced.

Information Rights

7.             For so long as this Note remains outstanding,
Debtors will furnish Holder such periodic financial statements and reports of
Debtors as may be required to be furnished to the Senior Lender, including,
without limitation, the following:

(a)           As soon as available and in any event within
90 days after the end of each fiscal year of Debtors, the financial statements
of Debtors consisting of at least statements of income, cash flow and changes
in members’ equity, and a balance sheet as at the end of such year, setting
forth in each case in comparative form corresponding figures from the previous
annual audit, certified without qualification by certified public accountants
of recognized national standing, selected by Debtors, together with any
management letters, management reports or other supplementary comments or
reports to Debtors furnished by such accountants.

(b)           As soon as available and in any event within
30 days after the end of each fiscal month (except for the month of January),
unaudited statements of income, cash flow and changes in members’ equity for
Debtors for such month and for the period from the beginning of such fiscal
year to the end of such month, and a balance sheet of Debtors as at the end of
such month, setting forth in comparative form figures for the corresponding
period for the preceding fiscal year.

(c)           As soon as practicable and in any event
within 30 days prior to the beginning of each fiscal year of Debtors,
statements of forecasted income for Debtors for such fiscal year and a
forecasted balance sheet of Debtors, together with supporting assumptions.

(d)           As soon as practicable and in any event
within 30 days after the end of each month, a written report on Debtors’
capital expenditures, and promptly upon the mailing or filing thereof, copies
of all financial statements, reports, proxy statements, registration
statements, periodic reports and other documents filed with the Securities and
Exchange Commission (or any successor thereto) or any national securities
exchange.

Restrictions On Debtors Actions While Subordinated
Note is Outstanding.

8.             As long as this subordinated Note is
outstanding, the Holder may restrict the following actions at the Debtors:

(a)           If the subordinated Note will not be
completely paid off as part of a merger or exchange, the Holder can veto such
merger or plan of exchange of the Debtors. 
In the event of a cashless merger, such approval shall not be
unreasonably withheld.  If a portion of
the subordinated Note is not being paid, the Holder could veto the sale of
fixed assets to a third party of more than 10% per calendar year, or 30%, in
the aggregate, of the assets of the Debtors.

 3
 

 

(b)           Except as specifically permitted in the
Credit Agreement, without prior approval of the Holder, the Debtors will not
take on additional debt, nor will it mortgage, pledge, assign, encumber or
grant security interests in any Debtors assets.

(c)           The Debtors will not have an annual operating
and capital budget that exceeds the budget for the preceding year by more than
10% in any one year after, but including, the acquisition and with full
accommodation for the recent growth at Debtors. 
Such budget to be discussed prior to financial close on this
transaction.

General.

9.             Debtors hereby:

(a)           waive diligence, presentment, demand for
payment, notice of dishonor, notice of non-payment, protest, notice of protest,
and any and all other demands in connection with the delivery, acceptance,
performance, default or enforcement of this Note;

(b)           waive the benefit of any statute of
limitations to the maximum extent permitted by law with respect to any action
to enforce or otherwise related to this Note;

(c)           agree that Holder shall have the right,
without notice, to grant any extension of time for payment of any indebtedness
evidenced by this Note or any other indulgence or forbearance whatsoever;

(d)           agree that no failure on the part of Holder
to exercise any power, right or privilege hereunder, or to insist upon prompt
compliance with the terms of this Note shall constitute a waiver of that power,
right or privilege;

(e)           agree that the acceptance at any time by
Holder of any past due amounts shall not be deemed to be a waiver of the
requirement to make prompt payment when due of any other amounts then or
hereafter due and payable; and

(f)            agree that Holder may pledge this
subordinated Note to its creditors without seeking Debtors’ consent; provided,
however, that Holder shall not be permitted to pledge or otherwise assign this
Note to a competitor of Debtors without Debtors’ advance written consent.  For purposes of this Section 9(f), the term “competitor”
shall mean any person or business enterprise engaged in a business that
competes directly or indirect with that of Debtors.

Jurisdiction.

10.           This Note shall be governed in all respects by the laws of the state of
Minnesota. Debtors covenant, and by the acceptance of this Note Holder also
covenants, that each irrevocably (a) waives, to the fullest extent permitted by
law, any and all right to trial by jury in any legal proceeding arising out of
the Agreement or this Note or any of the transactions contemplated hereby, (b)
submits to the personal jurisdiction of the state courts of Minnesota or, if
the United States District Courts would otherwise have jurisdiction, the United
States District Court for the District of Minnesota, (c) waives any and all
objections (including, without limitation, inconvenience of forum) to
jurisdiction or venue within the state of Minnesota.

 4
 

 

 

	
  

  	
  GOLDEN OVAL EGGS, LLC

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Dana Persson

  	
   

  
	
   

  	
  Its

  	
   President and Chief Executive Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MIDWEST INVESTORS OF IOWA, COOPERATIVE

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Dana Persson

  	
   

  
	
   

  	
  Its

  	
   President and Chief Executive Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GOECA, LP

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Dana Persson

  	
   

  
	
   

  	
  Its

  	
   President and Chief Executive Officer

  	
   

  
					

 

 5EXHIBIT
10.11

SECURITY AGREEMENT

This
Security Agreement, dated as of June 30, 2006 (the “Security Agreement”), is
made by Golden Oval Eggs, LLC, a Delaware limited liability company, GOECA, LP,
a Delaware Limited Partnership, and Midwest Investors of Iowa, Cooperative, an
Iowa Corporation (each a “Grantor,” together the “Grantors”), for the benefit
of Land O’Lakes, Inc., a Minnesota cooperative corporation (the “Secured Party”).

RECITALS

In connection with the closing of the transactions
contemplated in that certain Asset Purchase and Sale Agreement dated as of May
23, 2006, between Golden Oval Eggs, LLC (“Golden Oval”) and certain affiliates
of Secured Party (the “Asset Purchase Agreement”), Golden Oval has issued to
Secured Party a Subordinated Promissory Note (the “Subordinated Note”) of even
date herewith, which note was issued subject to the terms, conditions and
restrictions more particularly described in that certain Subordination and
Intercreditor Agreement (the “Subordination Agreement”) of even date herewith
between Golden Oval, Golden Oval’s senior lender and Secured Party;

It is a condition to Secured Party’s acceptance of
the Subordinated Note that the Grantors deliver to Secured Party this Security
Agreement to secure, subject to the Subordination Agreement, the obligations
under the Subordinated Note.

ACCORDINGLY, in consideration of the foregoing and
the agreements set forth below, the Grantors hereby agree as follows:

1.             Definitions. All capitalized terms that are not otherwise defined herein shall
have the meanings given them in the Asset Purchase Agreement. All terms defined
in the UCC and not otherwise defined herein have the meanings assigned to them
in the UCC.  In addition, the following
terms have the meanings set forth below or in the referenced Section of this
Agreement:

“Accounts” means all of each
Grantor’s accounts, as such term is defined in the UCC, including each and
every right of such the Grantor to the payment of money, whether such right to
payment now exists or hereafter arises, whether such right to payment arises
out of a sale, lease or other disposition of goods or other property, out of a
rendering of services, out of a loan, out of the overpayment of taxes or other
liabilities, or otherwise arises under any contract or agreement, whether such
right to payment is created, generated or earned by such Grantor or by some
other person who subsequently transfers such person’s interest to the Grantor,
whether such right to payment is or is not already earned by performance, and howsoever
such right to payment may be evidenced, together with all other rights and
interests (including all Liens) which such Grantor may at any time have by law
or agreement against any account Grantor or other obligor obligated to make any
such payment or against any property of such account Grantor or other obligor;
all including but not limited to all present and future accounts, contract
rights, loans and obligations receivable, chattel papers, bonds, notes and
other debt instruments, tax refunds and rights to payment in the nature of
general intangibles.

“Collateral” means all of
each Grantor’s personal property, including, without limitation, all of each
Grantor’s Accounts, chattel paper, deposit accounts, documents, Equipment,
General Intangibles, goods, instruments, Inventory, Investment Property,
letter-of-credit rights, letters of credit, all sums on deposit in any
collateral account, and any items in any lockbox; together with (i) all
substitutions and replacements for and products of any of the foregoing;
(ii) in the case of

 

all goods, all accessions;
(iii) all accessories, attachments, parts, equipment and repairs now or
hereafter attached or affixed to or used in connection with any goods;
(iv) all warehouse receipts, bills of lading and other documents of title
now or hereafter covering such goods; (v) any money, or other assets of
each Grantor that now or hereafter come into the possession, custody, or
control of the Secured Party; and (vi) proceeds of any and all of the
foregoing.

“Default” means an event
that, with giving of notice or passage of time or both, would constitute an
Event of Default.

“Equipment” means all of
each Grantor’s equipment, as such term is defined in the UCC, whether now owned
or hereafter acquired, including but not limited to all present and future
machinery, vehicles, furniture, fixtures, manufacturing equipment, shop
equipment, office and recordkeeping equipment, parts, tools, supplies, and
including specifically the goods described in any equipment schedule or list
herewith or hereafter furnished to the Secured Party by a Grantor.

“Event of Default” means (a)
any party signing the Subordinated Note shall fail to pay any or all of the
Obligations when due, or (b) any Grantor shall fail to observe or perform any
covenant or agreement herein binding on it.

“General Intangibles” means
all of each Grantor’s general intangibles, as such term is defined in the UCC,
whether now owned or hereafter acquired, including all present and future
Intellectual Property Rights, customer or supplier lists and contracts,
manuals, operating instructions, permits, franchises, the right to use any
Grantor’s name, and the goodwill of any Grantor’s business.

“Intellectual Property
Rights” means all actual or prospective rights arising in connection with any
intellectual property or other proprietary rights, including all rights arising
in connection with copyrights, patents, service marks, trade dress, trade
secrets, trademarks, trade names or mask works.

“Inventory” means all of
each Grantor’s inventory, as such term is defined in the UCC, whether now owned
or hereafter acquired, whether consisting of whole goods, spare parts or
components, supplies or materials, whether acquired, held or furnished for
sale, for lease or under service contracts or for manufacture or processing,
and wherever located.

“Investment Property” means
all of each Grantor’s investment property, as such term is defined in the UCC,
whether now owned or hereafter acquired, including but not limited to all
securities, security entitlements, securities accounts, commodity contracts,
commodity accounts, stocks, bonds, mutual fund shares, money market shares and
U.S. Government securities.

“Lien” means any security
interest, mortgage, deed of trust, pledge, lien, charge, or encumbrance of any
kind whatsoever, including, but not limited to the interest of the lessor or
titleholder under any capitalized lease, title retention contract or similar
agreement and the interest of any bondsman under any payment or performance
bond, in, of or on any assets or properties of a person, whether now owned or
hereafter acquired and whether arising by agreement or operation of law.

“Obligations” means each and
every debt, liability and obligation of every type and description arising
under or in connection with the Subordinated Note.

 2
 

 

“Permitted Liens” means the
Security Interest and any Lien of Golden Oval’s senior lender as identified in
the Subordination Agreement.

“Security
Interest” has the meaning given in Section 2 hereof.

“UCC”
means Uniform Commercial Code as in effect from time to time in the State of
Minnesota.

2.             Security Interest. Subject to the terms of the Subordination
Agreement, the Grantors hereby grant the Secured Party a security interest (the
“Security Interest”) in the Collateral to secure payment of the Obligations.

3.             Grantors Acknowledgment/Financing Statements.  The
Grantors hereby acknowledge that the grant of the Security Interest in Section
2 hereof constitutes a grant of a security interest in all of the collateral
and authorizes the Secured Party to file financing statements designating the
collateral described therein as “all personal property” of each Grantor.

4.             Representations, Warranties and Agreements. Each Grantor hereby represents, warrants
and agrees as follows:

(a)           Title. Such Grantor (i) has absolute title to
each item of Collateral in existence on the date hereof, free and clear of all
Liens, except Permitted Liens, (ii) will have, at the time the Grantor
acquires any rights in Collateral hereafter arising, absolute title to each
such item of Collateral free and clear of all Liens, except Permitted Liens,
(iii) will keep all Collateral free and clear of all Liens, except
Permitted Liens, and (iv) will defend the Collateral against all claims or
demands of all persons other than the Secured Party, except with respect to
Permitted Liens. Except as permitted under the Credit Agreement, the Grantor
will not sell or otherwise dispose of any Collateral or any interest therein,
without the prior written consent of the Secured Party.

(b)           Legal
Name; Chief Executive Office; Identification Numbers. Each Grantor’s correct legal name, chief
executive office and principal place of business, federal employer
identification number and organizational identification number are properly set
forth by its signature below.

 (c)          Changes in Name, Location or Jurisdiction
of Organization. No
Grantor will change its name, business address, or jurisdiction of organization
without prior written notice to the Secured Party.

(d)           Fixtures. No Grantor will permit any tangible
Collateral to become part of or to be affixed to any real property without
first assuring that the Security Interest will be prior and senior to any Lien
then held or thereafter acquired by any mortgagee of such real property or the
owner or purchaser of any interest therein.

(e)           Miscellaneous
Covenants. Each Grantor
will:

(i)            keep all tangible Collateral in good repair,
working order and condition, normal depreciation excepted, and will, from time
to time, replace any worn, broken or defective parts thereof;

 3
 

 

(ii)           promptly pay all taxes and other governmental
charges levied or assessed upon or against any Collateral;

(iii)          at all reasonable times, permit the Secured
Party or its representatives to examine or inspect any Collateral, wherever
located, and to examine, inspect its books and records pertaining to the
Collateral and its business and financial condition;

(iv)          keep accurate and complete records pertaining
to the Collateral and pertaining to its business and financial condition and
submit to the Secured Party such periodic reports concerning the Collateral and
its business and financial condition as the Secured Party may from time to time
reasonably request;

(v)           promptly notify the Secured Party of any
material loss of or damage to any Collateral or of any material adverse change,
known to it, in the prospect of payment of any sums due on or under any
instrument, chattel paper, or account constituting Collateral;

(vi)          at all times keep all tangible Collateral
insured against risks of fire (including so-called extended coverage), theft,
collision (in case of Collateral consisting of motor vehicles) and such other
risks and in such amounts as the Secured Party may reasonably request, with any
such policies containing a bank loss payable endorsement acceptable to the
Secured Party; and

(vii)         not amend any financing statement in favor of
the Secured Party as secured party except upon written authorization of the
Secured Party.

5.             Remedies upon Event of Default. Upon the occurrence of an Event of Default
and at any time thereafter, the Secured Party may (but need not) take any and
all actions the Secured Party is permitted to take as provided under the
Subordination Agreement.

6.             Notices; Requests for Accounting. All notices and other communications
hereunder shall be in writing and mailed or delivered (which delivery may be by
telecopy) to the party to whom notice is being given at its address set forth
in the Subordinated Note (with respect to the Secured Party), under its signature
to this Agreement (with respect to each Grantor) or, as to each party, at such
other address as may hereafter be designated by such party in a written notice
to the other party complying as to delivery with the terms of this Section. All
such notices, requests, demands and other communications, when delivered, shall
be effective upon actual delivery, and when mailed shall be effective one
business day after the date sent by nationally recognized overnight mail
courier or delivery service, addressed as aforesaid.

7.             Miscellaneous. This Agreement has been duly and validly
authorized by all necessary corporate action. This Agreement does not
contemplate a sale of accounts, or chattel paper. This Agreement may be waived,
modified, amended, terminated or discharged, and the Security Interest may be
released, only explicitly in a writing signed by the Secured Party, and, in the
case of amendment or modification, in a writing signed by each Grantor. A
waiver signed by the Secured Party shall be effective only in the specific
instance and for the specific purpose given. Mere delay or failure to act shall
not preclude the exercise or enforcement of any of the Secured Party’s rights
or remedies. All rights and remedies of the Secured Party shall be cumulative and
may be exercised singularly or concurrently, at the Secured Party’s option, and
the exercise or enforcement of any one such right or remedy shall

 4
 

 

neither be a condition to nor bar the exercise or enforcement of any
other. The Secured Party’s duty of care with respect to Collateral in its
possession (as imposed by law) shall be deemed fulfilled if the Secured Party
exercises reasonable care in physically safekeeping such Collateral or, in the
case of Collateral in the custody or possession of a bailee or other third
person, exercises reasonable care in the selection of the bailee or other third
person, and the Secured Party need not otherwise preserve, protect, insure or
care for any Collateral. The Secured Party shall not be obligated to preserve
any rights any Grantor may have against prior parties, to realize on the
Collateral at all or in any particular manner or order, or to apply any cash
proceeds of Collateral in any particular order of application. This Agreement
shall be binding upon and inure to the benefit of each Grantor and the Secured
Party and their respective successors and assigns and shall take effect when
signed by each Grantor and delivered to the Secured Party, and each Grantor
waives notice of the Secured Party’s acceptance hereof. This Agreement shall be
governed by and construed in accordance with the substantive laws (other than
conflict laws) of the State of Minnesota. If any provision or application of
this Agreement is held unlawful or unenforceable in any respect, such illegality
or unenforceability shall not affect other provisions or applications which can
be given effect and this Agreement shall be construed as if the unlawful or
unenforceable provision or application had never been contained herein or
prescribed hereby. All representations and warranties contained in this
Agreement shall survive the execution, delivery and performance of this
Agreement and the creation and payment of the Obligations.

 

[signatures next page]

 5
 

 

IN WITNESS WHEREOF, each
Grantor has executed this Agreement as of the date and year first above
written.

	
  

  	
  GOLDEN OVAL
  EGGS, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Dana Persson

  
	
   

  	
   

  	
   

  
	
   

  	
  Its

  	
    President
  and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  FEIN:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MIDWEST
  INVESTORS OF IOWA, COOPERATIVE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Dana Persson

  
	
   

  	
   

  	
   

  
	
   

  	
  Its

  	
    President
  and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  FEIN:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GOECA, LP

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/ Dana Persson

  
	
   

  	
   

  	
   

  
	
   

  	
  Its

  	
    President
  and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  FEIN:

  
				

 

 6

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