Document:

exv10w1

 

EXHIBIT 10.1

THE ASSOCIATED GENERAL CONTRACTORS OF AMERICA

[AGC SYMBOL]

 

STANDARD FORM OF AGREEMENT AND

GENERAL CONDITIONS BETWEEN OWNER

AND CONTRACTOR

(Where the Contract Price is a Lump Sum)

 

TABLE OF ARTICLES

	 	1.	 	AGREEMENT
	 
	 	2.	 	GENERAL PROVISIONS
	 
	 	3.	 	CONTRACTOR’S RESPONSIBILITIES
	 
	 	4.	 	OWNER’S RESPONSBILITIES
	 
	 	5.	 	SUBCONTRACTS
	 
	 	6.	 	CONTRACT TIME
	 
	 	7.	 	CONTRACT PRICE
	 
	 	8.	 	CHANGES
	 
	 	9.	 	PAYMENT
	 
	 	10.	 	INDEMNITY, INSURANCE AND WAIVERS
	 
	 	11.	 	TERMIANTE OF THE AGREEMENT, SUSPENSION AND
NOTICE TO CURE
	 
	 	12.	 	DISPUTE RESOLUTION
	 
	 	13.	 	MISCELLANEOUS PROVISIONS
	 
	 	14.	 	CONTRACT DOCUMENTS

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
(Where the Contract Price is a Lump Sum)

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This Agreement has important legal and insurance consequences. Consultation with an
attorney and insurance consultant is encouraged with respect to its completion or modification.

 

STANDARD FORM OF AGREEMENT AND

GENERAL CONDITIONS BETWEEN OWNERS AND CONTRACTOR

(Where the Contract Price is a Lump Sum)

ARTICLE 1

1) AGREEMENT

This
Agreement is made this 14th day of October

in the year 2005 by and between the

	 	a)	 	OWNER

Siouxland Ehtanol, LLC

Box 147

Jackson, NE 68743

and the

	 	b)	 	CONTRACTOR

Holly A. Brown Construction

2408 Lucas Avenue

Anthon, IA 51004

for services in connection with the following

	 	c)	 	PROJECT

Siouxland Ethanol, LLC plant Phase I Grading and Drainage Contract Package

Notice to the parties shall be given at the above addresses.

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
(Where the Contract Price is a Lump Sum)

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Section 1.02 ARTICLE 2

GENERAL PROVISIONS

2.1 RELATIONSHIP OF PARTIES The Owner and the Contractor agree to proceed with the Project on the
basis of good faith and fair dealing.

2.1.1 The Contractor shall furnish construction administration and management services and use the
Contractor’s best efforts to perform the Work in an expeditious manner consistent with the Contract
Documents. The Owner shall endeavor to promote harmony and cooperation among the Owner, Contractor
and Others.

2.1.2 The Contractor represents that it is an independent contractor and that in its performance of
the Work it is and shall act as an independent contractor.

2.1.3 Neither Contractor nor any of its agents or employees will act on behalf of or in the name of
Owner unless authorized in writing by Owner’s Representative.

2.2 EXTENT OF AGREEMENT This Agreement is solely for the benefit of the parties, represents the
entire and integrated agreement between the parties, and supersedes all prior negotiations,
representations or agreements, either written or oral. The Owner and Contractor agree to look
solely to each other with respect to the performance of the Contract. The Contract and each and
every provision thereof is for the exclusive benefit of the Owner and Contractor and not for the
benefit of any third party nor any third party beneficiary thereof, except to the extent expressly
provided in the Contract.

2.2 DEFINITIONS

.1 Changed Work means work which is deleted or omitted from, or different from the original scope
of Work.

.2 The Contract Documents consist of this Agreement, the drawings, specifications, addenda issued
prior to execution of the Contract, approved Shop Drawings, subsurface information, if available,
and other documents listed in this Agreement and any modifications issued after execution of this
Agreement.

.3 The Contract Time is the period between the Date of Commencement and final completion. See
Article 6.

.4 The Date of Commencement of the Work is the date established in the Agreement. See
Subparagraph 6.1.1.

.5 The term Day shall mean calendar day unless otherwise specifically defined.

.6 Defective Work is any portion of the Work which is not in conformance with the Contract
Documents as more fully described in Paragraphs 3.5 and 3.8.

.7 Designer means the licensed design professional, and its consultants, retained by Owner to
perform design services for the Project.

.8 Extra Work means work which is in addition to the original scope of the Work.

.9 Fee means salaries and other mandatory or customary compensation of the Contractor’s employees
at its principal and branch offices; general and administrative expenses of the Contractor’s
principal and branch offices other than the field office; and the Contractor’s capital expenses,
including interest on the Contractor’s capital employed for the Work; and profit.

.10 Materials means any tangible item to be incorporated into the Work including, but not limited
to, all materials, equipment, machinery, and parts, whether furnished by Contractor, its
Subcontractors or material suppliers, the Owners or Others.

.11 Others means other contractors and all persons at the Worksite who are not employed by
Contractor, its subcontractors or material suppliers.

.12 Owner is the person or entity identified as such in this Agreement and includes the Owner’s
representative or the Owner’s representative’s designers, and the Designer.

.13 The Project, as identified in Article 1, is the building, facility and/or other improvements
for which the Contract is to provide services under this Agreement. It may also include
construction by the Owner or Others.

.14 A Subcontractor is a party or entity retained by the Contractor as an independent contractor
to provide the labor, materials, equipment and/or services necessary to complete a specific
portion of the Work. The term Subcontractor does not include the Designer or Others as defined in
this Paragraph.

.15 Substantial Completion of the Work, or of a designated portion, occurs on the date when the
Contractor’s obligations are sufficiently complete in accordance with the Contract Documents so
that the Owner may occupy or utilize the Project, or a designated portion, for the use for which
it is intended. The issuance of a certificate of occupancy is not a prerequisite for Substantial
Completion if the inability to obtain the Certificate of Occupancy is due to factors beyond the
Contractor’s control. This date shall be confirmed by a certificate of Substantial Completion
signed by the Owner and Contractor. The certificate shall state the respective responsibilities
of the Owner and Contractor for security, maintenance, heat, utilities, damage to the Work, and
insurance. The certificate shall also list the items to be completed or corrected, and establish
the time for their completion and correction.

.16 A Subsubcontractor is a person or entity who has a contract with a Subcontractor to perform
any portion of the Work. The term “Subsubcontractor” is referred to throughout the Contract
Documents as if singular in number and means a Subsubcontractor or an authorized representative of
the Subsubcontractor.

.17 Supplies means any tangible item which is used to perform the Work or is necessary to perform
the Work but will not be incorporated into the Work including, but not

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limited to, equipment, tools, machinery, apparatus and scaffolding.

.18 The term Work means the construction and services necessary or incidental to fulfill the
Contractor’s obligations for the Project in conformance with this Agreement and the other Contract
Documents. The Work may refer to the whole Project or only a part of the Project if Work is also
being performed by the Owner or Others.

.19 Worksite means the geographical area at the location mentioned in Article 1 where the Work is
to be performed.

ARTICLE 3

CONTRACTOR’S RESPONSIBILITES

3.1 GENERAL RESPONSIBILITIES

3.1.1 The Contractor shall provide all labor, materials, equipment, and services necessary to
complete the following Work for the Project, all of which shall be provided in full accord with and
reasonably inferable from the Contract Documents as being necessary to produce the indicated
results.

3.1.2 The Contractor is responsible for the supervision and coordination of all of the Work,
including the construction means, methods, techniques, sequences and procedures utilized, unless
the Contract Documents give other specific instructions. In such case, the Contractor shall not be
liable to the Owner for damages resulting from compliance with such instructions unless the
Contractor recognized and failed to timely report to the Owner any error, inconsistency, omission
or unsafe practice that it discovered in the specified construction means, methods, techniques,
sequences or procedures.

3.1.3 The Contractor shall confine operations at the site to areas permitted by law, ordinances,
permits and the Contract Documents and shall not unreasonably encumber the site with materials or
equipment.

3.2 COOPERATION WITH WORK OF OTHERS

3.2.1 The Owner reserves the right to perform construction or operations related to the Project
with the Owner’s own forces, and to award separate contracts in connection with other portions of
the Project or other construction or operations on the site under contractual provisions identical
or substantially similar to those in this agreement, including those portions related to insurance,
waiver of subrogation and safety.

3.2.2 The Owner shall provide for coordination of the activities of the Owner’s own forces and
those of Others with the Work of the Contractor, who shall cooperate with them. The Contractor
shall participate with the Owner and Others in reviewing their construction schedules when directed
to do so. The Contractor shall make any revisions to the schedule of the Work, Contract Time and
Price deemed necessary after a joint review and mutual agreement. The construction schedules shall
then constitute the schedules to be used by the Contractor, separate contractors and the Owner
until subsequently revised.

3.2.3 With regard to the work of the Owner and Others, the Contractor shall (a) proceed with the
Work in a manner which does not hinder, delay or interfere with the work of the Owner or Others or
cause the work of the Owner or Others to become defective, (b) afford the Owner or Others a
reasonable opportunity for introduction and storage of their materials and equipment and
performance of their activities, and (c) connect and coordinate the Contractor’s construction and
operations with theirs as required by the Contract Documents.

3.2.4 Before proceeding with any portion of the Work affected by the construction or operations of
the Owner or Others, the Contractor shall give the Owner prompt, written notification of any
defects the contractor discovers in their work which will prevent the proper execution of the
Contractor’s Work. The Contractor’s obligations in this paragraph do not create a reasonability
for the work of Others, but are for the purpose of facilitating the Contractor’s Work. If the
Contractor does not notify the Owner of patent defects interfering with the performance of the
Work, the Contractor acknowledges that the work of the Owner and Others is not defective and is
acceptable for the proper execution of the Contractor’s Work.

3.3 RESPONSIBLITY FOR CONTRACT DOCUMENTS

3.3.1 In order to facilitate its responsibilities for completion of the Work in accordance with and
as reasonably inferable from the Contract Documents, prior to commencing the Work the Contractor
shall examine and compare: the Contract Documents; information furnished by the Owner pursuant to
Paragraph 4.3; relevant field measurements made by the Contractor; and any visible conditions at
the site affecting the Work.

3.3.2 If in the course of the performance of the obligations in Subparagraph 3.3.1 the Contractor
discovers any errors, omissions or inconsistencies in the Contract Documents, the Contractor shall
promptly report them to the Owner. It is recognized, however, that the Contractor is not acting in
the capacity of a licensed design professional, and that the Contractor’s examination is to
facilitate construction and does not create an affirmative responsibility to detect errors,
omissions or inconsistencies or to ascertain compliance with applicable laws, building codes or
regulations.

3.3.3 The Contractor has no liability for errors, omissions or inconsistencies described in
Subparagraphs 3.3.1 and 3.3.2 unless the Contractor knowingly failed to report a recognized problem
to the Owner. If, however, the Contractor fails to perform the examination and reporting
obligations of these provisions, the Contractor shall be responsible for any avoidable costs or
direct damages.

3.3.4 The Contractor may be entitled to additional costs and/or time because of clarifications or
instructions growing out of the Contractor’s reports described in the three preceding
subparagraphs.

3.4 CONSTRUCTION PERSONNEL AND SUPERVISION

3.4.1 The Contractor shall provide a competent level of supervision for the performance of
the Work on the Project, including a Contractor’s Representative who shall possess full

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
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authority to receive instructions from Owner and to act on those instructions.

3.4.2 Before beginning performance of the Work, Contractor shall notify Owner in writing of the
name and qualifications of its proposed superintendent (or foreman) so Owner may review the
individual’s qualifications. If, for reasonable cause, the Owner refuses to approve the
individual, or withdraws the approval after once giving it, Contractor shall name a different
superintendent for Owner’s review. Any disapproved superintendent will not perform in that
capacity thereafter at the Owner’s Worksite.

3.4.3 As between the Owner and Contractor, the Contractor shall be responsible to the Owner for
acts or omissions of parties or entities performing portions of the Work for or on behalf of the
Contractor or any of its Subcontractors.

3.4.4 Contractor shall permit only fit and skilled persons to perform the Work. Contractor shall
enforce safety procedures, strict discipline and good order among persons performing the Work. If
Owner determines that a particular person does not follow safety procedures, or is unfit or
unskilled for the assigned work, Contractor shall immediately reassign the person on receipt of
Owner’s written notice to do so.

3.5 WORKMANSHIP

3.5.1 Every part of the Work shall be executed in accordance with the Contract Documents and
submittals approved pursuant to paragraph 3.13 in a workerlike manner. All materials used in the
Work shall be furnished in sufficient quantities to facilitate the proper and expeditious execution
of the Work and shall be new except such materials as may be expressly provided in the Contract
Documents to be otherwise.

3.6 MATERIALS FURNISHED BY THE OWNER OR OTHERS

3.6.1 In the event the scope of the Work includes installation of materials or equipment furnished
by the Owner or Others, it shall be the responsibility of the Contractor to examine the items so
provided and thereupon handle, store and install the items, unless otherwise provided in the
Contract Documents, with such skill and care as to provide a satisfactory and proper installation.
Loss or damage due to acts or omissions of the Contractor shall be the responsibility of the
Contractor and may be deducted from any amounts due or to become due the Contractor.

3.7 TESTS AND INSPECTIONS

3.7.1 The Contractor shall schedule all required tests, approvals and inspections of the Work or
portions thereof at appropriate times so as not to delay the progress of the Work or other work
related to the Project. The Contractor shall give proper written notice to all required parties of
such tests, approvals and inspections. The Owner and Others may observe the tests promptly at the
normal place of testing if feasible. The Owner shall bear all expenses associated with tests,
inspections and approvals required by the Contract Documents which, unless otherwise agreed to,
shall be conducted by an independent testing laboratory or entity approved by the Owner. Unless
otherwise required by the Contract Documents, required certificates of testing approval or
inspection shall be secured by the Contractor and promptly delivered to the Owner.

3.7.2 If the Owner or appropriate authorities determine that testing, inspection or approval in
addition to those required by the Contract Documents will be necessary, the Contractor shall
arrange for the procedures and give timely notice to the Owner and Others who may observe the
procedures. Costs of the additional tests, inspections or approvals are at the Owner’s expense
except as provided in Subparagraph 3.7.3

3.7.3 If the procedures described in Subparagraphs 3.7.1 and 3.7.2 indicate that portions of the
Work fail to comply with the Contract Documents, the Contractor shall be responsible for costs of
correction and retesting.

3.8 WARRANTY

3.8.1 The Contractor warrants to the Owner that to the extent consistence with the standards of
care and diligence normally practiced by construction contractors in performing Work of a similar
nature and to the extent either required or permitted by the Contract Documents, materials used and
equipment furnished shall be new and of good quality. At the Owner’s request, the Contractor shall
furnish satisfactory evidence of the quality and type of materials and equipment furnished. The
Contractor further warrants that the Work will be free from material defects not intrinsic to the
design or materials required in the Contract Documents. The Contractor’s warranty does not include
remedies for defects or damages caused by normal wear and tear during normal usage, use for a
purpose for which the Project was not intended, improper or insufficient maintenance, modifications
performed by the Owner or Others, or abuse.

3.8.2 If within one year after the date of Substantial Completion of the Work as defined in
Subparagraph 2.3.15, any Work is found to be defective as defined in Subparagraph 2.3.6, Paragraph
3.5, and Subparagraph 3.8.1 above, the Owner shall promptly notify the Contractor in writing.
Unless the Owner provides written acceptance of the condition, the Contractor shall promptly
correct the Defective Work. If within the one-year correction period the Owner discovers and does
not promptly notify the Contractor or give the Contractor as opportunity to test and/or correct
Defective Work as reasonably requested by the Contractor, the Owner waives the Contractor’s
obligation to correct that Defective Work as well as the Owner’s right to claim a breach of the
warranty with respect to the Defective Work.

3.8.3 With respect to any portion of Work first performed after Substantial Completion, the
warranty period of one year shall be extended by the period of time between Substantial Completion
and the actual performance of the Work. Correction periods shall not be extended by corrective
work performed by the Contractor.

3.8.4 The Contractor shall obtain from its Subcontractors and Suppliers any special or extended
warranties required by the Contract documents. Contractor’s liability for such warranties shall be
limited to the one year correction period referred to in Subparagraph 3.8.2. After that period
Contractor shall assign them to the Owner and provide reasonable assistance to the

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
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Owner in enforcing the obligations of Subcontractors or suppliers.

3.8.5 If after the one-year correction period but before the applicable limitation period the Owner
discovers any Defective Work, the Owner shall, unless the Defective Work requires emergency
correction, promptly notify the Contractor. The Owner may either (a) allow the Contractor at its
option to correct the Work or (b) have the Work corrected by itself or Others and charge the
Contractor for the reasonable cost of the correction.

3.8.6 If the Contractor fails to correct Defective Work within a reasonable time after receipt of
written notice from the Owner, the Owner may correct it in accordance with the Owner’s right to
carry out the Work in Paragraph 11.2. In such case, an appropriate Change Document shall be issued
deducting the cost of correcting such deficiencies from payments then or thereafter due the
Contractor. If payments then or thereafter due Contractor are not sufficient to cover such
amounts, the Contractor shall pay the difference to the Owner.

3.8.7 If the Contractor’s correction or removal of Defective Work causes damage to or destroys
other completed or partially completed construction, the Contractor shall be responsible for the
cost of correcting the destroyed or damaged construction. The Owner shall be responsible for the
cost of correcting damaged or destroyed, completed or partially completed construction, when the
damage or destruction is caused by the Owner or Others.

3.8.8 The one-year period for correction of Defective Work does not affect a limitation period with
respect to the enforcement of the Contractor’s other obligations under the Contract Documents.

3.8.9 At the Owner’s option and with the Contractor’s agreement, the Owner may elect to accept
Defective Work rather than require its removal and correction. In such case the Contract Price
shall be equitably adjusted, whether or not the Owner has made final payment.

3.9 CORRECTION OF COVERED WORK

3.9.1 On request of the Owner, Work which has been covered without a requirement that it be
inspected prior to being covered may be uncovered for the Owner’s inspection. The Owner shall pay
for the costs of uncovering and replacement if the Work proves to be in conformance with the
Contract Documents, or if the defective condition was caused by the Owner or Others. If the
uncovered Work proves to be defective, the Contractor shall pay the costs of uncovering and
replacement.

3.9.2 If contrary to specific requirements in the Contract Documents or contrary to a specific
request from the Owner, a portion of the Work is covered, the Owner, by written request, may
require the Contractor to uncover the Work for the Owner’s observation. In this circumstance the
Work shall be replaced at the Contractor’s expense and with no adjustment to the Contract Time.

3.9.3 The Contractor is required to correct in a timely fashion any Work rejected by the Owner
which fails to comply with the Contract Documents prior to the commencement of the warranty
period(s) or during the warranty period(s) established under Paragraph 3.8. The Contractor shall
correct at is own cost and time and bear the expense of additional services for any Defective Work
for which it is responsible.

3.10 SAFETY OF PERSONS AND PROPERTY

3.10.1 SAFETY PRECUATIONS AND PROGRAMS The Contractor shall have overall responsibility for safety
precautions and program in the performance of the Work. While the provisions of this Paragraph
establish the responsibility for safety between the Owner and Contractor, they do not relieve
Subcontractors of their responsibility for the safety of persons or property in the performance for
their work, nor for compliance with the provisions of applicable laws and regulations.

3.10.2 The Contractor shall seek to avoid injury, loss or damage to persons or property by taking
reasonable steps to protect:

.1 employees and other persons at the site;

.2 materials and equipment stored at on-site or off-site locations for use in performance of the
Work; and

.3 the Project and all property located at the site and adjacent to work areas, whether or not
said property or structures are part of the Project or involved in the Work.

3.10.3 CONTRACTOR’S SAFETY REPRESENTATIVE The Contractor shall designate an individual at the site
in the employ of the Contractor who shall act as the Contractor’s designated safety representative
with a duty to prevent accidents. Unless otherwise identified by the Contractor in writing to the
Owner, the designated safety representative shall be the Contractor’s project superintendent. The
Contractor will report immediately in writing all accidents and injuries occurring at the Worksite
to the Owner. When the Contractor is required to file an accident report with a public authority,
the Contractor shall furnish a copy of the report to the Owner.

3.10.4 The Contractor shall provide the Owner with copies of all notices required of Contractor by
law or regulation. The Contractor’s safety program shall comply with the requirements of
governmental and quasi-governmental authorities having jurisdiction.

3.10.5 Damage or loss not insured under property insurance which may arise from the performance of
the Work, to the extent of the negligence attributed to such acts or omissions of the Contractor,
or anyone for whose acts the Contractor may be liable, shall be promptly remedied by the
Contractor. Damage or loss attributable to the acts or omissions of the Owner or Others and not to
the Contractor shall be promptly remedied by the Owner.

3.10.6 If the Owner deems any part of the Work or Worksite unsafe, the Owner, without assuming
responsibility for the Contractor’s safety program, may require the Contractor to stop performance
of the Work or take corrective measures satisfactory to the Owner, or both. If the Contractor does
not adopt corrective measures, the Owner may perform them and

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deduct their cost from the Contract Price. The Contractor agrees to make no claim for damages, for
an increase in the Contract Price, or for a change in the Contract Time based on the Contractor’s
compliance with the Owner’s reasonable request.

3.11 HAZARDOUS MATERIALS

3.11.1 A Hazardous Material is any substance or material identified now or in the future as
hazardous under any federal, state or local law or regulation, or any other substance material
which may be considered hazardous or otherwise subject to statutory or regulatory requirement
governing handling, disposal and/or clean-up. The Contractor shall not be obligated to commence or
continue work until any Hazardous Material discovered at the project site has been removed,
rendered or determined to be harmless by the Owner as certified by an independent testing
laboratory and approved by the appropriate government agency.

3.11.2 If after the commencement of the Work, Hazardous Material is discovered at the project site,
the Contractor shall be entitled to immediately stop Work in the affected area. The Contractor
shall report the condition to the Owner and, if required, the government agency with jurisdiction.

3.11.3 The Contractor shall not be required to perform any work relating to or in the area of
Hazardous Material without written mutual agreement.

3.11.4 The Owner shall be responsible for retaining an independent testing laboratory to determine
the nature of the material encountered and whether it is a Hazardous Material requiring corrective
measures and/or remedial action. Such measures shall be the sole responsibility of the Owner, and
shall be performed in a manner minimizing any adverse effect upon the work of the Contractor. The
Contractor shall resume Work in the area affected by any Hazardous Material only upon written
agreement between the parties after the Hazardous Material has been removed or rendered harmless
and only after approval, if necessary, of the government agency with jurisdiction.

3.11.5 If the Contractor incurs additional costs and/or is delayed due to the presence or
remediation of Hazardous Material, the Contractor shall be entitled to an equitable adjustment in
the Contract Price and/or the Contract Time.

3.11.6 To the extent not caused by the negligent acts or omissions of the Contractor, its
Subcontractors and subsubcontractors, and the agents, officers, directors and employees of each of
them, the Owner shall defend, indemnify and hold harmless the Contractor, its Subcontractors and
subsubcontractors, and the agents, officers, directors and employees of each of them, from and
against any and all direct claims, damages, losses, cost and expenses, including but not limited to
attorney’s fees, costs and expenses incurred in connection with any dispute resolution process,
arising out of or relating to the performance of the Work in any area affected by Hazardous
Material. To the fullest extent permitted by law, such indemnification shall apply regardless of
the fault, negligence, breach of warranty or contract, or strict liability of the Owner.

3.11.7 Material Safety Data (MSD) sheets as required by law and pertaining to materials or
substances used or consumed in the performance of the Work, whether obtained by the Contractor,
Subcontractors, the Owner or Others, shall be maintained at the Site by the Contractor and made
available to the Owner, Subcontractors and Others.

3.11.8 During the Contractor’s performance of the Work, the Contractor shall be responsible for the
proper handling of all materials brought to the site by the Contractor. Once the Owner takes
possession of the Worksite, the Owner shall be responsible under this Paragraph for materials and
substances brought to the site by the Contractor if such materials or substances were required by
the Contract Documents.

3.11.9 The terms of this Paragraph shall survive the completion of the Work under this Contract
and/or any termination of this Contract.

3.12 EMERGENCIES

3.12.1 The Contractor shall act as it deems appropriate in an emergency situation threatening
personal injury or property damage. An equitable adjustment in compensation and/or time may be
determined in a Change Document.

3.13 SUBMITTALS

3.13.1 The Contractor shall submit to the Owner for review and approval all shop drawings, samples,
product data, and similar submittals required by the Contract Documents. The Contractor shall be
responsible to the Owner for the accuracy and conformity of its submittals to the Contract
Documents. The Contractor shall prepare and deliver its submittals to the Owner in a manner
consistent with the Project Schedule and in such time and sequence so as not to delay the
performance of the Work or the work of the Owner and Others. The review and approval of the
Contractor submittal shall not be deemed to authorize deviations, substitutions or changes in the
requirements of the Contract Documents unless express written approval is obtained from the Owner
specifically authorizing such deviation, substitution or change. In the event that that Contract
Documents do not contain submittal requirements pertaining to the Work, the Contractor agrees upon
request to submit in a timely fashion to the Owner for review and approval by the Owner any shop
drawings, samples, product data, manufacturers’ literature or similar submittals as may reasonably
be required by the Owner.

3.13.2 The Owner shall be responsible for review and approval of submittals with reasonable
promptness to avoid causing delay.

3.13.3 The Contractor shall perform all Work strictly in accordance with approved submittals.
Approval of shop drawings is not authorization to Contractor to perform Extra Work or Changed Work,
unless the procedures of Article 8 are followed. The Owner’s approval does not relieve the
Contractor from responsibility for Defective Work resulting from errors or omissions of any kind on
the approved Shop Drawings.

3.13.4 Current record copies incorporating field changes and selections made during construction of
the following are to be

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maintained at the Project site and available to the Owner upon request: drawings, specifications,
addenda, Change Document and other modifications, and required submittals including product data,
samples and shop drawings.

3.13.5 No substitutions shall be made in the Work unless permitted in the Contract Documents and
then only after the Contractor obtains all approvals required under the Contract Documents for
substations.

3.14 PROFESSIONAL SERVICES The Owner, through its Designer, shall provide all professional services
required for the completion of the Work. The Contractor shall not be required to provide
professional services which constitute the practice of architecture or engineering unless the
Contractor needs to provide such services in order to carry out its responsibilities for
construction means and methods. The Contractor shall not be required to provide such services in
violation of existing laws, rules and regulations in the jurisdiction where the Project is located.

3.15 SITE CONDITIONS

3.15.1 PRE-BID SITE VISIT The Contractor acknowledges that it has visited, or has had the
opportunity to visit, the Project site to visually inspect the general and local conditions which
could affect the Work.

3.15.2 POST-CONTRACT FIELD CONDITIONS The Contractor shall compare its field measurements and
observations with the Contract Documents and any other information before commencing the Work. The
Contractor shall promptly report any recognized errors, inconsistencies or omissions to the Owner.
If the Contractor fails to report to the Owner any recognized errors, inconsistencies or omissions,
the Contractor shall be liable to the Owner for damages resulting therefrom.

3.15.3 CONCEALED OR UNKNOWN SITE CONDITIONS If the conditions at the site are (a) subsurface or
other physical conditions which are materially different from those indicated in the Contract
Documents, or (b) unusual or unknown physical conditions which are materially different from
conditions ordinarily encountered and generally recognized as inherent in Work provided for in the
Contract Documents, then prompt notice shall be given to all affected parties before the conditions
are distributed, but in no event later than seven (7) days after discovery. If appropriate, an
equitable adjustment to the Contract Price and Contract Time shall be made by Change Document. If
agreement cannot be reached by the parties, the party seeking an adjustment in the Contract Price
or Contract Time may assert a Claim in accordance with eh Contract Documents.

3.16 PERMITS AND TAXES

3.16.1 Contractor shall give public authorities all notices required by law and, except for permits
and fees which are the responsibility of the Owner pursuant to Paragraph 4.4, shall obtain and pay
all necessary permits, licenses and renewals pertaining to the Work. The entire cost of obtaining
all necessary notices, permits, licenses and renewals is included in the Contract Price.
Contractor will provide the Owner copies of all notices, permits, licenses and renewals required
under this Contract.

3.16.2 Contractor shall pay all applicable taxed legally enacted when bids are received or
negotiations concluded for the Work provided by the Contractor.

3.16.3 The Contractor shall be compensated for additional costs resulting from laws, ordinances,
rules, regulations and taxes enacted after the date of this Agreement.

3.16.4 If in accordance with the Owner’s direction an exemption is claimed for taxes, the Owner
agrees to defend, indemnify and hold the Contractor harmless from any liability, penalty, interest,
fine, tax assessment, attorneys fees or other expense or cost incurred by the Contractor as a
result of any action taken by the Contractor in accordance with the Owner’s direction.

3.17 CUTTING, FITING AND PATCHING

3.17.1 The Contractor shall ensure the performance of all cutting, fitting and patching required to
coordinate the various parts of the Work and to prepare its Work for the work of the Owner or
Others by the Contract Documents.

3.17.2 Cutting, patching, or altering the Work or the work of the Owner or Others shall be done wit
the prior written approval of the Owner and the consent of the Contractor or Others as appropriate.
Such consent shall not be unreasonably withheld.

3.18 CLEANING UP

3.18.1 The Contractor shall at all times during its performance of the Work keep the Worksite clean
and free from debris resulting from the Work. Prior to discontinuing Work in an area, the
Contractor shall clean the area and remove all rubbish and its construction equipment, tools,
machinery, waste and surplus materials. Contractor shall make provisions to minimize and confine
dust and debris resulting from construction activities.

3.18.2 If the Contractor fails to immediately commence compliance with cleanup duties within
forty-eight (48) hours after written notification from the Owner of non-compliance, the Owner may
implement appropriate cleanup measures without further notice and the cost thereof shall be
deducted from any amounts due or to become due the Contractor.

3.19 ACCESS TO WORK The Contractor shall facilitate the access of the Owner and Others to Work in
progress.

3.20 CONFIDENTIALITY Contractor agrees that it will treat as confidential information and not
disclose to third persons or use for its own benefit any of Owner’s developments, confidential
information, know-how, discoveries, production methods and the like that may be disclosed to
Contractor or which Contractor may acquire in connection with the Work.

3.20.1 Any drawings, plans, specifications, analyses, proposals, reports, photographs, models or
other information, data or documents proprietary to the Owner but not relating to the Contractor’s
means, methods, techniques or processes

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(whether in raw, preliminary or final form) which are developed by the Contractor while performing
Work under this Agreement belong to the Owner and are Owner’s confidential information.

ARICLE 4

OWNER’S RESPONSIBILTIES

4.1 INFORMAITON AND SERVICES Any information or services to be provided by the Owner shall be
provided in a timely manner.

4.2 FINANCIAL INFORMATION Prior to commencement of the Work and thereafter at the written request
of the Contractor, the Owner shall provide the Contractor with evidence of Project financing.
Evidence of such financing shall be a condition precedent to the Contractor’s commencing or
continuing the Work. The Contractor shall be notified prior to any material change in Projects
financing.

4.3 SITE INFORMATION Except to the extent that the Contractor knows of any inaccuracy, the
Contractor is entitled to rely on the following site information to be furnished at the Owner’s
expense and with reasonable promptness.

.1 information describing the physical characteristics of the site, including surveys, site
evaluations, legal descriptions, data or drawings depicting existing conditions, subsurface and
environmental studies, reports and investigations;

.2 structural, mechanical, chemical, air and water pollution tests for hazardous materials, and
other laboratory and environmental tests, inspections and reports required by law; and

.3 any other information or services requested in writing by the Contractor which is relevant to
the Contractor’s performance of the Work and under the Owner’s control.

The surveys and legal information shall include, as applicable, grades and lines of streets,
alleys, pavements and adjoining property and structures; adjacent drainage; rights-of-way,
restrictions, easements, encroachments, zoning, deed restrictions, boundaries and contours of the
site; locations, dimensions and necessary data pertaining to existing buildings, other improvements
and trees; and information concerning available utility services and lines, both public and
private, above and below grade, including inverts and depths. All information on the survey shall
be referenced to a project benchmark.

4.4 BUILDING PERMIT, FEES AND APPROVALS Except for those permits and fees related to the Work which
are the responsibility of the contractor pursuant to Paragraph 3.16, the Owner shall secure and pay
for all other permits, approvals, easements, assessments and fees required for the development,
construction, use or occupancy of permanent structures or for permanent changes in existing
facilities, including the building permit.

4.5 MECHANICS LIEN INFORMATION Within seven (7) days after receiving the Contractor’s written
request, the Owner shall provide the Contractor which the information necessary tot give notice of
or enforce mechanics lien rights and where applicable stop notices. This information shall include
the Owner’s interest in the real property on which the Project is located and the record legal
title.

4.6 CONTRACT DOCUMENTS Unless otherwise specified, Owner shall provide a reasonable number of the
Contract Documents to the Contractor without cost.

4.7 OWNER’S REPRESENTATIVE The Owner’s representative is Tim Smith, Construction Manager for
Siouxland Ethanol, LLC.

The representative or the representative’s designee:

.1 shall be fully acquainted with the Project;

.2 agrees to furnish the information and services required of the Owner pursuant to Paragraph 4.3
so as not to delay the Contractor’s Work; and

.3 shall have authority to bind the Owner in all matters requiring the Owner’s approval,
authorization or written notice.

If the Owner changes its representative or the representative’s authority as listed above, the
Owner shall immediately notify the Contractor in writing.

4.8 STOPPING THE WORK If the Contractor is continually negligent in its performance of the Work in
accordance with the Contract Documents or fails to correct Defective Work as required in Paragraph
3.8, the Owner may order the Contractor in writing to stop the Work or any portion of the Work
until such negligent performance or failure is rectified. The Owner’s right to stop the Work,
however, does not create a responsibility to do so except in an emergency or in the mitigation of
damages.

4.9 CUTTING AND PATCHING As described in Subparagraph 3.17.2, the Owner and Others have the same
responsibility for cutting, patching, or altering the Work as the Contractor.

4.10 OWNER’S RIGHT TO CLEAN UP In case of a dispute between the Contractor and Others with regard
to respective responsibilities for cleaning up at the site, the Owner may implement appropriate
cleanup measures and apportionately allocate the cost among those responsible.

ARTICLE 5

SUBCONTRACTS

5.1 SUBCONTRACTORS The Work not performed by the Contractor with its own forces shall be performed
by Subcontractors.

5.2 AWARD OF SUBCONTRACTS AND OTHER CONTRACTS FOR PORTIONS OF THE WORK

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5.2.1 As soon after the award of the Contractor as possible the Contractor shall provide the Owner
with a written list of the proposed Subcontractors and significant material suppliers. If the
Owner has a reasonable objection to any proposed Subcontractor or material supplier, the Owner
shall notify the Contractor in writing. Failure to promptly object shall constitute acceptance.

5.2.2 If the Owner has reasonably and promptly objected as provided in Subparagraph 5.2.1, the
Contractor shall not contract with proposed Subcontractor or material supplier, and the Contractor
shall propose another acceptable to the Owner. An appropriate Change Document shall reflect any
increase or decrease in the Contract Price or Contract Time required by the substitution.

5.3 BINDING OF SUBCONTRACTORS AND MATERIAL SUPPLIERS The Contractor agrees to bind every
Subcontractor and material supplier (and require every Subcontractor to so bind its subcontractors
and material suppliers) to all the provisions of this Agreement and the Contract Documents as they
apply to the Subcontractor’s and material supplier’s portions of the Work.

5.4 LABOR RELATIONS

Contractor shall conduct his operations without any disruptions to other work operations on the
project site. Contractor shall be solely responsible for his own labor relations.

5.5 CONTINGENT ASSIGNMENT OF SUBCONTRACTS

5.5.1 If this Agreement is terminated, each subcontract agreement is assigned by the Contractor to
the Owner, subject to the prior rights of any surety provided that:

.1 the Contract is terminated by the Owner pursuant to Paragraphs 11.3 or 11.4; and

.2 the Owner accepts such assignment after termination by notifying the Subcontractor and
Contractor in writing.

5.5.2 If the Owner accepts such an assignment, and the Work has been suspended for more than thirty
(30) consecutive days, the Subcontractor’s compensation shall be equitably adjusted as a result of
the suspension.

ARTICLE 6

CONTRACT TIME

6.1 PERFORMANCE OF THE WORK

6.1.1 DATE OF COMMENCEMENT The Date of Commencement is the effective date of this Agreement as
first written in Article 2 unless otherwise set forth below:

Contractor shall mobilize the jobsite and commence work by 10/17/05.

6.1.2 TIME Substantial Completion of the Work shall be achieved in sixty (43) Days from the Date
of Commencement. Unless otherwise specified, the Work shall be finally complete within seventy
(50) days after the date of Substantial Completion, subject to adjustments as provided for in the
Contract Documents.

6.1.3 Time limits stated in the Contract Documents are of the essence.

6.1.4 Unless instructed by the Owner in writing, the Contractor shall not knowingly commence the
Work before the effective date of insurance that is required to be provided by the Contractor or
the Owner.

6.2 OWNER’S RIGHT TO DETERMINE THE ORDER OF CONTRACTOR’S ACTIVITIES

6.2.1 Before submitting the first application for payment, the Contractor shall submit to the Owner
a progress construction schedule document which will specify the dates on which the Contractor
plans to begin and complete various parts of the Work, including dates on which information and
approvals are required from the Owner. On the Owner’s written approval of the schedule, the
Contractor shall comply with it unless directed by the Owner to do otherwise. The Contractor will
update the schedule on a monthly basis or at appropriate intervals as required by the conditions of
the Work and the Project.

6.2.2 The Owner may determine the sequence in which the Work is performed, provided it does not
unreasonably interfere with the approved project schedule. The Owner may require the Contractor to
make reasonable changes in the sequence at any time during the performances of the Work in order to
facilitate the performance of work by the Owner or Others. To the extent such changes increase
Contractor’s time and costs the Contract Price and Contract Time shall be equitably adjusted
including a reasonable overhead and profit resulting from the change in sequence.

6.2.3 The Owner, for any reason, may require the Contractor at any time to perform any portion of
the Work on an overtime basis or may require the Contractor not to perform any portion of the Work
on an overtime basis. If the Owner requires overtime Work, the overtime portion will be considered
Extra Work, provided the Owner exercised its right to accelerate the scheduled completion date or
to promote the Owner’s interests. Overtime Work required to enable the Contractor to meet a
scheduled completion date or to correct Defective Work is not Extra Work. The Contract Price, the
Contract Time or both will be increased or changed under Article 8 for all overtime Work
constituting Extra Work. In no event will an increase in the Contract Price be greater than an
amount equal to the additional costs incurred by the Contractor as a result of the overtime Work
(i.e., the overtime premium portion of the applicable wage rates plus the payroll taxes, insurance,
and overhead and profit applicable to the overtime premium portion of the applicable wage rates).

6.3 DELAYS AND EXTENSIONS OF TIME

6.3.1 The Contract Time shall be equitably extended by Change Document if the Contractor is delayed
at any time in the commencement or the progress of the Work by any justifiable cause beyond the
Contractor’s control including but

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not limited to any of the following: an act or omission of the Owner or Others; changes ordered in
the Work, including multiple changes issued in a short period of time whose cumulative impact may
cause delay; labor disputes; fire; hazardous materials; adverse weather conditions not reasonably
anticipated; concealed or unknown conditions; or delay authorized by the Owner pending dispute
resolution.

6.3.2 In the event delays to the Work are encountered for any reason, the Owner and Contractor
agree to undertake reasonable steps to mitigate the effect of such delays. Subject to the
provisions of Article 12, if either party is entitled to additional costs as a result of such
mitigation, they shall be recoverable.

6.4 DELAY CLAIMS Subject to the provisions of Articles 8 and 12, if the Contractor is entitled to
recover additional costs incurred and/or to have an adjustment in the Contract Time as a result of
events set forth in Subparagraph 6.3.1, those costs shall be recoverable and an equitable time
extension granted. Subject to Paragraph 10.2, to the extent the Contractor causes delay in the
completion of the Work, the Owner shall be entitled to recover its additional costs following the
procedures established in Article 12.

ARTICLE 7

CONTRACT PRICE

7.1 LUMP SUM As full compensation for performance by the Contractor of this Agreement, the Owner
agrees to pay the Contractor the lump sum price of One million one-hundred eighty six thousand sixty six dollars
Dollars ($1,186,066) subject to additions and deductions as provided for in this Agreement.
The lump sum price is hereinafter referred to as the Contract Price.

7.2 ADJUSTMENTS The Contract Price is subject to increase or decrease solely as provided in Article
8. The Contract Price, including authorized adjustments, is the total amount payable by the Owner
to the Contractor for performance of the Work under the Contract Documents.

7.3 ALLOWANCE

7.3.1 All allowances stated in the Contract Documents shall be included in the Contract Price.
While the Owner may direct the amounts of and particular suppliers for specific allowances items,
if the Contractor reasonably objects to a supplier, it cannot be required to contract with them.
The Owner shall select allowance items in a timely manner so as not to delay the Work.

7.3.2 Allowances shall include the costs of materials and equipment delivered to the site less
applicable trade discounts and including requisite taxes, unloading and handling at the Project
site, and labor and installation. The Contractor’s overhead and profit for the allowances shall be
included in the Contract Price, but not in the allowances. The Contract Price shall be adjusted by
Change Document to reflect the actual.

ARTICLE 8

CHANGES

8.1 CHANGE DOCUMENTS

8.1.1 The Owner, without invalidating the Contract, may order changes in the Work within the
general scope of the Contract consisting of additions, deletions or other revisions, the Contract
Price and the Contract Time being adjusted accordingly. All such changes in the Work shall be
authorized by applicable Change Document, and shall be performed under the applicable conditions of
the Contract Documents. The Owner and Contractor shall negotiate in good faith an appropriate
adjustment to the Contract Price and Contract Time and shall conclude these negotiations as
expeditiously as possible. Acceptance of the Change Document and any adjustment in the Contract
Price or the Contract Time shall not be unreasonably withheld.

8.1.2 A Change Document is a written order signed by the Owner and the Contractor after execution
of this Agreement, indicating changes in the Work and substitutions proposed by the Contractor and
accepted by the Owner within the general scope of the Agreement. All such changes in the Work
shall be performed under the applicable conditions of the Contract Documents. The Contract Price
and the Contract Time may be modified only by Change Document. A Change Document signed by the
Contractor indicates agreement therewith, including the adjustment in the Contract Price or the
Contract Time.

8.2 COST OR CREDIT DETERMINATION

8.2.1 The cost or credit to the Owner resulting from a change in the Work shall be determined in
one or more of the following ways:

.1 by mutual acceptance of an itemized lump sum;

.2 by unit prices as indicated in the Contract Documents or as subsequently agreed to by the
parties;

.3 by costs determined in a manner acceptable to the parties and a mutually acceptable fixed or
percentage fee; or

.4 by the method provided below.

If none of the methods set forth above is agreed upon, or if the proposed work must be expedited,
the Contractor, provided it receives from the Owner a written order to proceed with a
representation that a Change Document will be promptly signed by the Owner, shall promptly proceed
with the Work involved. Absent an agreement to one of the above methods, the cost of such Work
shall be determined on the basis of reasonable expenditures and savings of those performing the
Work attributable to the change, including, in case of an increase in the Contract Price, a
reasonable allowance for overhead and profit. The Contractor shall keep and present, in such form
as the Owner may prescribe, an itemized accounting together with appropriate supporting data for
inclusion in a Change Document. Unless otherwise provided in the Contract Documents, costs shall
be limited to the following: cost of materials, supplies and equipment, including sales tax and
cost of delivery; costs of labor, including employs benefits, social security, retirement,
unemployment, and workers compensation insurance required by law, agreement or under

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Contractor’s standard personnel policy; bond and insurance premiums; rental value of equipment and
machinery; costs of field office personnel and supervision; and fees and taxes related to the
change. Pending final determination of cost to the Owner, interim Change Documents shall be issued
each month for costs incurred in the past month. Payments on account for such costs shall be made
on the Certificate of Payment, and the Contract Price shall be increased accordingly.

8.2.2 Adjustments shall be based on net change in Contractor’s reasonable cost of performing the
changed Work plus, in the case of a net increase in cost, an agreed upon Fee not to exceed Ten
percent (10%). For purposes of determining such adjustments, the allowable cost of equipment
rental for any Extra Work, if a lump sum is not agreed on, shall be subject to guidelines
established by the Owner and set forth in Paragraph 13.9.

8.3 UNIT PRICES If unit prices are indicated in the Contract Documents or are subsequently agreed
to by the parties, but the character or quantity of such unit items as originally contemplated is
so different in a proposed Change Document that the original unit prices will cause substantial
inequity to the Owner or the Contractor, such unit prices shall be equitably adjusted.

8.4 PERFORMANCE OF CHANGED WORK The Contractor shall not be obligated to perform Changed Work until
a Change Document has been executed by the Owner and Contractor.

ARTICLE 9

(a) PAYMENT

9.1 SCHEDULE OF VALUES

9.1.1 Within twenty-one (21) calendar days from the date of execution of this Agreement, the
Contractor shall prepare and submit to the Owner a Schedule of Values apportioned to the various
divisions or phases of the Work. Each line item contained in the Schedule of Values shall be
assigned a monetary price such that the total of alt such items shall equal the Contract Price.

9.2 PROGRESS PAYMENTS

9.2.1 APPLICATIONS The Contractor shall submit to the Owner a Bi-monthly application for payment
no later than (Choose one of the following):

Subcontractor’s applications for payment shall be itemized and supported by the Contractor’s
Schedule of Values and any other substantiating data as required by this Agreement. Payment
applications may include payment requests on account of properly authorized interim Change
Documents. The Owner shall pay the amount otherwise due on any payment application, less any
amounts as set forth below, no later than twenty (5) calendar days after the Contractor has
submitted a complete and accurate payment application. The Owner may deduct, from any progress
payment, such amounts as may be retained pursuant to Subparagraph 9.2.4 below.

9.2.2 STORED MATERIALS AND EQUIPMENT If approved by the Owner, applications for payment may
include materials and equipment not incorporated into the Work but delivered to and suitably stored
on-site, or off-site and applicable insurance, storage and transportation costs to the site.
Approval of payment applications for stored materials and equipment shall be conditioned on
submission by the Contractor of bills of sale and proof of applicable insurance, or such other
procedures satisfactory to the Owner to establish the proper valuation of the stored materials and
equipment, the Owner’s title to such materials and equipment, and to otherwise protect the Owner’s
interests therein, including transportation to the site.

9.2.3 PARTIAL LIEN WAIVERS AND AFFIDAVITS As a prerequisite for payment, the Contractor shall
provide, if requested by the Owner, partial lien and claim waivers in the amount of the application
for payment and affidavits from its subcontractors, materialmen and suppliers for the completed
Work. Such waivers may be conditional upon payment. In no event shall the Contractor be required
to sign an unconditional waiver of lien or claim, either partial or final, prior to receiving
payment or in an amount in excess of what it has been paid.

9.2.4 RETAINAGE From each progress payment made prior to the time Substantial Completion of the
Work has been reached, the Owner shall retain ten percent (10%), if required, of the amount
otherwise due after deduction of any amounts as provided in Paragraph 9.3 of this Agreement. If
the Owner chooses to use this retainage provision

.1 at the time the Work is fifty percent (50%) complete and thereafter, the Owner shall withhold
no more retainage and pay the Contractor the full amount of what is due on account of progress
payments;

.2 once each early finishing trade contractor has completed its work and that work has been
accepted by the Owner, the Owner may release final retention on such Work;

.3 in lieu of retainage, the Contractor may furnish securities, acceptable to the Owner, to be
held by the Owner. The interest on such securities shall accrue to the Contractor;

.4 the Owner may, in its sole discretion, reduce the amount to be retained at any time.

9.3 ADJUSTMENT OF CONTRACTOR’S PAYMENT APPLICATION The Owner may adjust or reject a Contractor
payment application or nullify a previously approved Contract payment application, in whole or in
part, as may reasonably be necessary to protect the Owner from loss or damage based upon the
following, to the extent that the Contractor is responsible therefor under this Agreement:

.1 the Contractor’s repeated failure to perform the Work as required by the Contract Documents;

.2 loss or damage arising out of or relating to this Agreement and caused by Contractor to the
Owner, or others whom the Owner may be liable;

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.3 the Contractor’s failure to properly pay Subcontractors for labor, materials, equipment or
supplies furnished in connection with the Work;

.4 nonconforming or Defective Work not corrected in a timely fashion;

.5 reasonable evidence of delay in performance of the Work such that the Work will not be
completed within the Contract Time, and that the unpaid balance of the Contract Price is not
sufficient to offset any direct damages that may be sustained by the Owner as a result of the
anticipated delay caused by the Contractor; and

.6 reasonable evidence demonstrating that the unpaid balance of the Contract Price is insufficient
to fund the cost to complete the Work.

The Owner shall give written notice to the Contractor at the time of disapproving or nullifying an
application for payment of the specific reasons therefor. When the above reasons for disapproving
or nullifying an application for payment are removed, payment will be made for the amounts
previously withheld.

9.4 RESPONSIBILITY FOR LIENS If Owner has made payments in the time required by this Article 9,
the Contractor shall, within thirty (30) days after filing, cause the removal of any liens filed
against the premises or public improvement fund by any party or parties performing labor or
services or supplying materials in connection with the Work. If the Contractor fails to take such
action on a lien, the Owner may cause the lien to be removed at the Contractor’s expense, including
bond costs and reasonable attorney’s fees. This Paragraph shall not apply if there is a dispute
pursuant to Article 12 relating to the subject matter of the lien.

9.5 ACCEPTANCE OF WORK Neither the Owner’s payment of progress payments nor its partial or full
use of occupancy of the Project constitutes acceptance of Work not complying with the Contract
Documents.

9.6 PAYMENT DELAY If for any reason not the fault of the Contractor, the Contractor does not
receive a progress payment from the Owner within seven (7) calendar days after the time such
payment is due, as defined in Subparagraph 9.2.1, then the Contractor, upon giving seven (7)
calendar days’ written notice to the Owner, and without prejudice to and in addition to any other
legal remedies, may stop Work until payment of the full amount owning to the Contractor has been
received. The Contract Price and Contract Time shall be equitably adjusted by a Change Document if
reasonable cost and delay resulting from shutdown, delay and start-up are incurred by the
Contractor.

9.7 SUBSTANTIAL COMPLETION

9.7.1 The Contractor shall notify the Owner when it considers the Substantial Completion of the
Work or a portion thereof to have been achieved. The Owner shall promptly conduct an inspection to
determine whether the Work or designated portion thereof can be occupied or utilized for its
intended use by the Owner without excessive interference by the Contractor in completing any
remaining unfinished Work. If the Owner determines that the Work or designated portion thereof has
not reached Substantial Completion, the Owner shall promptly compile a list of items to be
completed or corrected so the Owner may occupy or utilize the Work or designated portion thereof
for its intended use. The Contractor shall promptly complete all items on the list.

9.7.2 When Substantial Completion of the Work or a designated portion thereof is achieved, the
Contractor shall prepare a Certificate of Substantial Completion, which shall establish the date of
Substantial Completion, recommending the respective responsibilities of the Owner and Contractor
for interim items such as security, maintenance, utilities, insurance, and damage to the Work, and
fixing the time for completion of all items on the list accompanying the Certificate. The
Certificate of Substantial Completion shall be submitted by the Contractor to the Owner for written
acceptance of responsibilities assigned in the Certificate.

9.7.3 Unless otherwise provided in the Certificate of Substantial Completion, warranties required
by the Contract Documents shall commence on the date of Substantial Completion of the Work or a
designated portion.

9.7.4 Upon acceptance by the Owner of the Certificate of Substantial Completion, the Owner shall
pay to the Contractor the remaining retainage held by the Owner for the Work described in the
Certificate of Substantial Completion less a sum equal to two hundred percent (200%) of the
estimated cost of completing or correcting remaining items on that part of the Work, as agreed to
by the Owner and Contractor as necessary to achieve final completion.

9.8 PARTIAL OCCUPANCY OR USE

9.8.1 The Owner may occupy or use completed or partially completed portions of the Work when (a)
the portion of the Work is designated in a Certificate of Substantial Completion, (b) appropriate
insurer(s) consent to the occupancy or use, and (c) appropriate public authorities authorize the
occupancy or use. Such partial occupancy or use shall constitute Substantial Completion of that
portion of the Work. The Contractor shall not unreasonably withhold consent to partial occupancy
or use. Owner shall not unreasonably refuse to accept partial occupancy.

9.9 FINAL PAYMENT

9.9.1 Upon notification from the Contractor that the Work is complete and ready for final
inspection and acceptance the Owner will promptly conduct an inspection to determine if the Work
has been completed and is acceptable under the Contract Documents. Uncompleted items shall be
completed by the Contractor in a mutually agreed time frame. The Owner shall pay the Contractor
monthly the amount retained for unfinished items as each item is completed.

9.9.2 When final completion has been achieved, the Contractor shall prepare for the Owner’s
acceptance a final application for payment staling that to the best of the Contractor’s knowledge,
and based on the Owner’s inspections, the Work has reached final completion in accordance with the
terms and conditions of the Contract Documents.

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9.9.3 Final payment of the balance of the Contract Price shall be made to the Contractor within
twenty (20) days after the Contractor has submitted a complete and accurate application for final
payment.

9.9.4 Final payment and any retained amounts shall be due on the Contractor’s submission of the
following to the Owner:

.1 an affidavit declaring any indebtedness connected with the Work, e.g. payrolls or invoices for
materials or equipment, to have been paid, satisfied or to be paid with the proceeds of final
payment, so as not to encumber the Owner’s property;

.2 as-built drawings, manuals, copies of warranties and all other close out documents required by
the Contract Documents;

.3 release of any liens, conditioned on final payment being received;

.4 consent of any surety; and

.5 a report of any accidents or injuries experienced by the Contractor or its Subcontractors at
the Worksite.

9.9.5 If after Substantial Completion of the Work, the final completion of a portion of the Work is
materially delayed through no fault of the Contractor, the Owner shall pay the balance due for
portion(s) of the Work fully completed and accepted. If the remaining contract balance for Work
not fully completed and accepted is less than the retained amount prior to payment, the Contractor
shall submit to the Owner the written consent of any surety to payment of the balance due for
portions of the Work that are fully completed and accepted. Such payment shall not constitute a
waiver of claims, but otherwise shall be governed by these final payment provisions.

9.9.6 Final payment shall constitute a waiver of Claims by the Owner except those arising from:

.1 unsettled liens, claims, security interests or encumbrances arising out of the contract;

.2 failure of the Work to comply with the requirements of the Contract Documents;

.3 terms of warranties required by the Contract Documents; or

.4 latent defects

9.9.7 ACCEPTANCE OF FINAL PAYMENT Unless the Contractor, Subcontractor or material supplier
provides written identification of unsettled claims with an application for final payment, their
acceptance of final payment constitutes a waiver of such claims.

9.10 LATE PAYMENT Payments due pursuant to Subparagraph 9.2.1, less any amount retained pursuant
to Subparagraphs 9.2.4 and 9.7.4, and Paragraph 9.9 may bear interest from the date payment is due
at the prime rate prevailing at the place of the Project.

ARTICLE 10

INDEMNITY, INSURANCE AND WAIVERS

10.1 INDEMNITY

10.1.1 To the fullest extent permitted by law, the Contractor shall defend, indemnify and hold the
Owner and Others harmless from all claims for bodily injury and property damage, other than to the
Work itself and other property insured under Paragraph 10.3.4, that may arise from the performance
of the Work to the extent of the negligence attributed to such acts or omissions by the Contractor,
Subcontractors or anyone employed directly or indirectly by any of them or by anyone for whose acts
any of them may be liable. The Contractor shall not be required to defend, indemnify or hold
harmless the Owner or Others for any acts, omissions or negligence of the Owner or Others.

10.1.2 The Owner shall cause any other contractor who may have a contract with the Owner to
perform work in the areas where Work will be performed under this Agreement to agree to indemnify
the Contractor, Subcontractors or anyone employed directly or indirectly by any of them or anyone
for whose acts any of them may be liable and hold them harmless from all claims for bodily injury
and property damage, other than property insured under Paragraph 10.3.4, that may arise from that
contractor’s operations. Such provisions shall be in a form satisfactory to the Contractor.

10.2 MUTUAL WAIVER OF CONSEQUENTIAL DAMAGES The Contractor and Owner waive all claims against each
other for all consequential damages arising out of or relating to this Contract. This mutual
waiver includes:

.1 damages incurred by the Owner for rental expenses for losses of use, income, profit, financing,
business and reputation, and for loss of management or employee productivity or of the services of
such persons; and

.2 damages incurred by the Contractor for principal office expenses including the compensation of
personnel stationed there, for losses of financing, business and reputation, and for loss of
profit other than anticipated profits arising directly from this Project.

This mutual waiver is applicable, without limitation, to all consequential damages due to either
party’s termination in accordance with Article 11. Nothing contained in this Subparagraph shall be
deemed to preclude an award of liquidated direct damages, if applicable in accordance with the
requirements of the Contract Documents.

10.3 INSURANCE

10.3.1 Prior to the start of Work, the Contractor shall procure and maintain in force Workers’
Compensation Insurance, Employer’s Liability Insurance, Business Automobile Liability Insurance,
and Commercial General Liability Insurance (CGL). The CGL policy shall include coverage for
liability arising from premises, operations, independent contractors, products-completed
operations, personal injury and advertising injury, contractual liability, and broad from property
damage.

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
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The CGL will also name the Owner as an additional insured for liability arising out of the
Contractor’s Work.

The Contractor’s Emploer’se Liability, Business Auto Liability, and Commercial General Liability
policies, as required in this Subparagraph 10.3.1, shall be written with limits of liability not
less than the following:

	 	 	 
	Employer’s Liability

	 	$1,000,000.00
	 

	 	Bodily Injury by Accident
	 
	 	 
	 

	 	$1,000,000 — Policy Limit
	 

	 	Bodily Injury by Disease
	 
	 	 
	Business Auto Liability

	 	$1,000,000.00
	 

	 	Each Accident
	 
	 	 
	Commercial General

	 	$1,000,000.00
	Liability

	 	Each Occurrence
	 
	 	 
	 

	 	$2,000,000.00
	 

	 	General Aggregate
	 
	 	 
	 

	 	$2,000,000.00
	 

	 	Products/Completed
	 

	 	Operations Aggregate
	 
	 	 
	 

	 	$1,000,000.00
	 

	 	Personal and Advertising
	 

	 	Injury Limit

10.3.2 Employer’s Liability, Business Auto Liability and Commercial General Liability coverages
required under Subparagraph 10.3.1 may be arranged under a single policy for the full limits
required or by a combination of underlying policies with the balance provided by Excess and/or
Umbrella Liability policies.

10.3.3 The Contractor shall maintain in effect all insurance coverage required under Subparagraph
10.3.1 at the Contractor’s sole expense with insurance companies lawfully authorized to do business
in the jurisdiction in which the Project is located. If the Contractor fails to obtain or maintain
any insurance coverage required under this Agreement, the Owner may purchase such coverage and
charge the expense thereof to the Contractor, or terminate this Contract.

The policies of insurance required under Subparagraph 10.3.1 shall contain a provision that the
coverages afforded under the policies will not be cancelled or allowed to expire until at least
thirty days prior written notice has been given to the Owner. The Contractor shall maintain
completed operations liability insurance for one year after acceptance of the Work, substantial
completion of the Project, or to the time required by the Contract Documents, whichever is longer.
The Contractor shall furnish the Owner evidence of such insurance at the time of completion of the
Work.

Prior to commencement of the Work, Contractor and Owner will furnish each other with reasonably
acceptable certificate or certificates of insurance.

10.3.4 The Owner shall be solely responsible for all risk of physical loss or damage to the entire
Project including portions of the Work stored off-site, Work in transit, scaffolding, falsework,
temporary buildings located at the Project, and tenant improvements. Before the start of Work, The
Owner shall obtain and maintain property insurance upon the entire Project for the full cost of
replacement at the time of loss. This insurance shall list as named insured the Owner, Contractor,
Subcontractors and Subsubcontractors. This insurance shall be written as a Builder’s Risk, “all
risk” or equivalent form to cover all risks or physical loss except those specifically excluded by
the policy, and shall insure at least against the perils of fire, lightning, explosion, windstorm,
and hail, smoke, aircraft (except aircraft, including helicopter, operated by or on behalf of
Contractor) and vehicles, riot and civil commotion, theft, vandalism, malicious mischief, debris
removal, flood, earthquake, earth movement, water damage, wind, testing if applicable, collapse
however caused, and damage resulting from defective design, workmanship or material. The Owner
shall be solely responsible for any deductible amounts or coinsurance penalties.

This insurance shall remain in effect until final payment has been made or until no person or
entity other than the Owner has an insurable interest in the property to be covered by this
insurance, whichever is sooner. Partial occupancy or use of the Work shall not commence until the
Owner has secured the consent of the insurance company or companies providing the coverage required
in this Subparagraph 10.3.4.

Upon written request of the Contract, the Owner will provide a copy of the property policy or
policies obtained in compliance with this Subparagraph 10.3.4.

10.3.5 If the Owner does not intend to purchase the property insurance required by this Agreement
including all of the coverages and deductibles described herein, the Owner shall give written
notice to the Contractor before the Work is commenced. The Contractor may then provide insurance
to protect its interests and the interests of the Subcontractor and Subsubcontractors in the Work
including the coverage of deductibles. The cost of this insurance shall be charged to the Owner in
a Change Document. The Owner shall be responsible for all of Contractor’s costs reasonably
attributed to the Owner’s failure or neglect in purchasing or maintaining the coverage described
above.

10.3.6 Owner and Contractor waive all rights against each other and their perspective employees,
agents, contractors, subcontractors and subsubcontractors for damages caused by risks covered by
the property insurance in Subparagraph 10.3.4, except such rights as they may have to the proceeds
of such insurance and such rights the Contractor may have for the failure of the Owner to obtain
and maintain property insurance in compliance with Subparagraph 10.3.4. To the extent of the
limits of Contractor’s Commercial General Liability Insurance specified in Subparagraph 10.3.1
or two million dollars ($2,000,000) whichever is more, the Contractor shall indemnify and
hold harmless the Owner against any and all liability, claims, demands, damages, losses and
expenses, including attorney’s fees, in connection with or arising out of any damage or alleged
damage to any of Owner’s existing adjacent property that may arise from the performance of the

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
(Where the Contract Price is a Lump Sum)

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anyone employed directly or indirectly by any of them or by anyone for whose acts any of them may
be liable.

10.3.7 BUSINESS INCOME INSURANCE The Owner, at the Owner’s option, may purchase and maintain such
insurance as will insure the Owner against loss of use of the Owner’s property due to fire or other
hazards, however caused. The Owner waives all rights of action against the Contractor for loss of
use of the Owner’s property, including consequential losses due to fire or other hazards however
caused.

10.3.8 OWNER’S LIABILITY The Owner shall obtain and maintain its own liability insurance for
protection against claims arising out of the performance of this Agreement, including without
limitation, loss of use and claims, losses and expenses arising out of the Owner’s errors or
omissions.

10.4 ROYALTIES, PATENTS AND COPYRIGHTS The Contractor shall pay all royalties and license fees
which may be due on the inclusion of any patented or copyrighted materials, methods or systems
selected by the Contractor and incorporated in the Work. The Contractor shall defend, indemnify
and hold the Owner harmless from all suits or claims for infringement of any patent rights or
copyrights arising out of such selection. The Owner agrees to defend, indemnify and hold the
Contractor harmless from any suits or claims of infringement of any patent rights arising out of
any patented materials, methods or systems specified by the Owner.

ARTICLE 11

TERMINATION OF THE AGREEMENT,

SUSPENSION AND NOTICE TO CURE

11.1 SUSPENSION BY OWNER FOR CONVENIENCE

11.1.1 OWNER SUSPENSION Should the Owner order the Contractor in writing to suspend, delay, or
interrupt the performance of this Agreement or any part which affects the Work for such period of
time as may be determined to be appropriate for the convenience of the Owner and not due to any act
or omission of the Contractor or any other person or entity for whose acts or omissions the
Contractor may be liable, then the Contractor shall immediately suspend, delay or interrupt that
portion of the Work as ordered by the Owner.

11.1.1.1 ADJUSTMENTS The Contract Price and the Contract Time shall be equitably adjusted for the
cost and delay resulting from any such suspension, including any increases in the cost of
materials, equipment, construction equipment, labor and a reasonable overhead and profit on such
increase.

11.1.2 Any action taken by the Owner which is permitted by any other provision of the Contract
Documents and which results in a suspension of part or all of the Work, does not constitute a
suspension of Work under this Article.

11.2 NOTICE TO CURE If the Contractor refuses or fails to supply enough properly skilled workers,
proper materials, and/or equipment, to maintain the approved project schedule in accordance with
Article 6, or it fails to make prompt payment to its workers, subcontractors or suppliers,
disregards laws, ordinances, rules, regulations or orders of any public authority having
jurisdiction, or is otherwise guilty of a material breach of a provision of this Agreement the
Contractor may be deemed in default of this Agreement. If the Contractor fails within seven (7)
working days after written notification to commence and continue satisfactory correction of such
default, with diligence and promptness, then the Owner without prejudice to any other rights or
remedies may:

.1 supply such number of workers and quantity of materials, equipment and other facilities as the
Owner deems necessary for the satisfactory correction of such default, which the Contractor has
failed to complete or perform after the aforesaid notice, and charge the cost thereof to the
Contractor, who shall be liable for the payment of same including reasonable overhead, profit and
attorneys’ fees;

.2 contract with one or more additional trade contractors, to perform such part of the Work as the
Owner shall determine will provide the most expeditious correction of the default and charge the
cost thereof to the Contractor;

.3 withhold payment of moneys due the Contractor in accordance with Paragraph 9.3 of this
Agreement; and

.4 in the event of an emergency affecting the safety of persons or property, the Owner may
immediately commence and continue satisfactory correction of such default per (.1) or (.2) above,
without first giving written notice to the Contractor, but shall then give prompt written notice
of such action to the Contractor.

11.3 OWNER’S RIGHT TO TERMINATE FOR CAUSE

11.3.1 TERMINATION BY OWNER FOR CAUSE If the Contractor fails to commence and satisfactorily
continue correction of a default within seven (7) working days after the written notification
issued under Paragraph 11.2, or provide the Owner with written verification of positive action that
is in process, then the Owner may, in lieu of or in addition to the remedies set forth in Paragraph
11.2, issue a second written notification to the Contractor. Such notice shall state that if the
Contractor fails to commence and continue correction of the default within fourteen (14) working
days of the second written notification, this Agreement may be terminated. The Owner also may
furnish materials, equipment, appliances or tools and employ such workers or trade contractors as
the Owner deems necessary to maintain the orderly progress of the Work. A written notice of
termination shall be issued by the Owner to the Contractor at the time this Agreement is
terminated.

All costs incurred by the Owner in performing the Work, including attorney’s fees, shall be
deducted from any moneys due or to become due the Contractor under this Agreement. The Contractor
shall be liable for the payment of any amount by which such expense may exceed the unpaid balance
of the Contract Price. If the unpaid balance of the Contract Price for Work performed in
accordance with this Agreement exceeds the expense of finishing the Work, Contractor shall be paid
for Work performed in accordance with the Contract Documents up to the amount that the unpaid
contract balance exceeds the expense of finishing the Work.

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
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Upon request of the Contractor the Owner shall furnish to the Contractor a detailed accounting of
the costs incurred by the Owner in finishing the Work.

11.3.2 USE OF CONTRACTOR’S EQUIPMENT If the Owner performs work under this Paragraph 11.3, or
subcontracts such work to be so performed, the Owner shall have the right to take and use any
materials, implements, equipment, appliances or tools furnished by, belonging or delivered to the
Contractor and located at the Project for the purpose of completing any remaining Work.
Immediately upon completion of the Work, any remaining materials, implements, equipment, appliances
or tools not consumed or incorporated in performance of the Work, and furnished by, belonging to,
or delivered to the Project by or on behalf of the Contractor, shall be returned to the Contractor
in substantially the same condition as when they were taken, reasonable wear and tear excepted.

11.3.3 If the Contractor files a petition under the Bankruptcy Code, this Agreement shall terminate
if the Contractor or the Contractor’s trustee rejects the Agreement or, if there has been a
default, the Contractor is unable to give adequate assurance that the Contractor will perform as
required by this Agreement or otherwise is unable to comply with the requirements for assuming this
Agreement under the applicable provisions of the Bankruptcy Code.

11.4 TERMINATION BY OWNER FOR CONVENIENCE Upon written notice to the Contractor, the Owner may,
without cause, terminate this Agreement with the Contractor. The Contactor shall immediately stop
the Work, follow the Owner’s instructions regarding shutdown and termination procedures, and strive
to mitigate all costs.

11.4.1 ADJUSTMENTS If the Work is so terminated, the Contractor may recover from the Owner payment
for all Work performed in accordance with this Agreement, all costs from the termination, plus a
reasonable profit.

11.4.2 If the Owner terminates this Contract pursuant to Paragraphs 11.3 or 11.4, the Contractor
shall:

.1 execute and deliver to the Owner alt papers and take all action required to assign, transfer
and vest in the Owner the rights of the Contractor to all Materials and Supplies for which payment
has or will be made in accordance with the Contract Documents and alt subcontracts, orders and
commitments which have been made in accordance with the Contract Documents;

.2 exert every effort to reduce to a minimum the Owner’s liability for subcontracts, orders and
commitments which have not been fulfilled at the time of the termination;

.3 cancel any subcontracts, orders and commitments as the Owner directs; and

.4 sell at prices approved by the Owner any Materials and Supplies as the Owner directs with all
proceeds paid or credited to the Owner as Owner directs.

11.5 CONTRACTOR’S RIGHT TO TERMINATE

11.5.1 Upon seven (7) days’ written notice to the Owner, the Contractor may terminate this
Agreement if the Work has been stopped for a thirty (30) day period through no fault of the
Contractor for any of the following reasons:

.1 under court order or order of other governmental authorities having jurisdiction;

.2 as a result of the declaration of a national emergency or other governmental act during which,
through no act or fault of the Contractor, materials are not available; or

.3 suspension by Owner for convenience pursuant to Paragraph 11.1.

11.5.2 The Contractor may terminate the Agreement for any of the following reasons:

.1 if the Owner fails to furnish reasonable evidence that sufficient funds are available and
committed for the entire cost of the Project in accordance with Paragraph 4.2 of this Agreement,
or

.2 if the Owner assigns this Agreement over the Contractor’s reasonable objection,

.3 if the Owner fails to pay the Contractor in accordance with this Agreement and the Contractor
has complied with Paragraph 9.6,

.4 if the Owner otherwise materially breaches this Agreement

11.5.3 Upon termination by the Contractor in accordance with Paragraph 11.5, the Contractor shall
be entitled to recover from the Owner payment for all Work executed and for any proven loss, cost
or expense in connection with the Work, plus all demobilization costs and reasonable damages plus a
reasonable profit.

11.6 OBLIGATIONS ARISING BEFORE TERMINATION Even after termination pursuant to Article 11, the
provisions of this Agreement still apply to any Work performed, payments made, event occurring,
costs charged or incurred or obligations arising before the termination date.

ARTICLE 12

DISPUTE RESOLUTION

12.1 WORK CONTINUANCE AND PAYMENT Unless otherwise agreed in writing, the Contractor shall continue
the Work and maintain the approved schedules during any dispute resolution proceedings. If the
Contractor continues to perform, the Owner shall continue to make payments in accordance with the
Agreement.

12.2 INITIAL DISPUTE RESOLUTION If a dispute arises out of or relates to this Agreement or its
breach, the parties shall endeavor to settle the dispute first through direct discussions. If the
dispute cannot be settled through direct discussions, the parties shall endeavor to settle the
dispute by mediation under the Construction Industry Mediation Rules of the American Arbitration
Association before recourse to the

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
(Where the Contract Price is a Lump Sum)

17

 

dispute resolution procedures contained in this Agreement. Once one party files a request for
mediation with the other contracting party and with the American Arbitration Association, the
parties agree to conclude such mediation within sixty (60) days of filing of the request. Either
party may terminate the mediation at any time after the first session, but the decision to
terminate must be delivered in person by the party’s representative to the other party’s
representative and the mediator.

12.3 EXHIBIT NO. 1 If the dispute cannot be settled by mediation within sixty (60) days, the
parties shall submit the dispute to any dispute resolution process set forth in Exhibit No. 1 to
this Agreement.

12.4 MULTIPARTY PROCEEDING The parties agree that all parties necessary to resolve a claim shall be
parties to the same dispute resolution proceeding. Appropriate provisions shall be included in all
other contracts relating to the Work to provide for the consolidation of such dispute resolution
procedures.

12.5 COST OF DISPUTE RESOLUTION The prevailing party in any dispute arising out of or relating to
this Agreement or its breach that is resolved by the dispute resolution process set forth in
Exhibit No. 1 to this Agreement shall be entitled to recover from the other party reasonable
attorneys fees, costs and expenses incurred by the prevailing party in connection with such dispute
resolution process.

12.6 LIEN RIGHTS Nothing in this Article shall limit any rights or remedies not expressly waived by
the Contractor which the Contractor may have under lien laws.

ARTICLE 13

MISCELLANEOUS PROVISIONS

13.1 ASSIGNMENT Neither the Owner nor the Contractor shall assign their interest in this Agreement
without the written consent of the other except as to the assignment of proceed. The Owner and
Contractor respectively bind themselves, their partners, successors, assigns and legal
representatives to the other party hereto and to partners, successors, assigns and legal
representatives of such other party in respect to covenants, agreements and obligations contained
in the Contract Documents. Neither party to this Agreement shall assign the Contract as a whole
without written consent of the other except that the Owner may assign the Contract to a wholly
owned subsidiary of Owner when Owner has fully indemnified Contractor or to an institutional lender
providing construction financing for the Project as long as the assignment is no less favorable to
the Contractor than this Agreement. The Contractor shall execute all consents reasonably required
to facilitate such assignment. In such event, the wholly owned subsidiary or lender shall assume
the Owner’s rights and obligations under the Contract Documents. However, if the Contractor has a
reasonable objection to such assignment, it shall have the right to terminate this Agreement as
provided in Subparagraph 11.5.2.2. If either party attempts to make such an assignment, that party
shall nevertheless remain legally responsible for all obligations under the Contract, unless
otherwise agreed by the other party.

13.2 GOVERNING LAW This Agreement shall be governed by the law in effect at the location of the
Project.

13.3 SEVERABILITY The partial or complete invalidity of any one or more provisions of this
Agreement shall not affect the validity or continuing force and effect of any other provision.

13.4 NO WAIVER OF PERFORMANCE The failure of either party to insist, in any one or more instances,
on the performance of any of the terms, covenants or conditions of this Agreement, or to exercise
any of its rights, shall not be construed as a waiver or relinquishment of such term, covenant,
condition or right with respect to further performance.

13.5 TITLES AND GROUPINGS The title given to the Articles of this Agreement are for ease of
reference only and shall not be relied upon or cited for any other purpose. The grouping of the
articles in this Agreement and of the Owner’s specifications under the various headings is solely
for the purpose of convenient organization and in no event will the grouping of provisions, the use
of paragraphs or the use of headings be construed to limit or alter the meaning of any provisions.

13.6 JOINT DRAFTING The parties hereto expressly agree that this Agreement was jointly drafted,
and that they both had opportunity to negotiate its terms and to obtain the assistance of counsel
in reviewing its terms prior to execution. Therefore, this Agreement shall be construed neither
against nor in favor of either party, but shall be construed in a neutral manner.

13.7 RIGHTS AND REMEDIES The parties’ rights, liabilities, responsibilities and remedies with
respect to this Agreement, whether in contract, tort, negligence or otherwise shall be exclusively
those expressly set forth in this Agreement.

13.7.1 The parties agree to look solely to each other with respect to the performance of this
Agreement. This Agreement and each and every provision hereof is for the exclusive benefit of
Owner and Contractor and not for the benefit of any third party, and no third party shall be
entitled to rely upon or enforce the terms of this Agreement, or to be a third party beneficiary
thereof, except to the extent expressly provided in this Agreement.

13.8 PRECEDENCE If any provision of this Agreement conflicts with or is inconsistent with any
other provision of other Contract Documents, the provision of this Agreement governs, unless the
other provision specifically refers to the provision it supersedes and replaces in this Agreement.

13.9 OTHER PROVISIONS

ARTICLE 14

CONTRACT DOCUMENTS

14.1 The Contract Documents in existence at the time of execution of this Agreement are as follows:

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
(Where the Contract Price is a Lump Sum)

18

 

.1 Fagen Engineering Phase 1 Rough Grading Package Drawings; 200 thru 211

.2 Antioch International Inc. Phase 1 Track Grading Drawings; Cover Sheet, sheets 1 thru 3,
sheets 100 and 200

.3 Fagen Engineering Instructions to Bidders Dated 10/4/05

.4 Report of Geotechnical Exploration prepared by Olsson Associates dated 5/31/05 and
Addendum #1 dates 10/3/05

.5 Proposal from Holly A Brown Construction dated 10/12/05

.6 Notice of Contract Award dated 10/14/05 from Siouxland Ethanol, LLC to Holly A Brown
Construction

.7 Supplemental Instructions to Bidders dated 10/7/05 distributed to Bidders at Pre Bid
meeting on 10/7/05

.8 Prebid Meeting minutes prepared by Siouxland Ethanol, LLC dated 10/7/05

14.2 INTERPRETATION OF CONTRACT DOCUMENTS

14.2.1 The Owner’s drawings and specifications are complementary. If Work is shown only on one but
not on the other, the Contractor shall perform the Work as though fully described on both
consistent with the Contract Documents and reasonably inferable from them as being necessary to
produce the indicated results.

14.2.2 In case of conflicts between the Owner’s drawings and specifications, the specifications
govern. In any case of omissions or errors in figures, drawings or specifications, the Contractor
shall immediately submit the matter to the Owner for clarification. The Owner’s clarifications are
final and binding on all parties subject to an equitable adjustment in Contract Time or Price
pursuant to Article 8.

14.2.3 Where figures or memoranda are given, they will be preferred to scale dimensions.

14.2.4 Any terms which have well-known technical or trade meanings, unless otherwise specifically
defined in the Contract Documents, will be interpreted in accordance with their well-known
meanings.

This Agreement is entered into as of the date entered in Article 1

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	OWNER: Siouxland Ethanol, LLC
	 
	 	 	 	 	 	 	 	 	 	 
	ATTEST:

	 	 	 	 	 	BY:
	 	/s/ Tom Lynch	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	PRINT NAME: Tom Lynch
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	PRINT TILE: President of the Board
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	CONTRACTOR: Holly A. Brown Construction
	 
	 	 	 	 	 	 	 	 	 	 
	ATTEST:

	 	 	 	 	 	BY:
	 	/s/ Holly A. Brown	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	PRINT NAME: Holly A. Brown
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	PRINT TILE: President

(i) Exhibit No.1, dated      ,

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
(Where the Contract Price is a Lump Sum)

19

 

STANDARD FORM OF AGREEMENT AND

GENERAL CONDITIONS BETWEEN OWNER

AND CONTRACTOR

(Where the Contract Price is a Lump Sum)

DISPUTE RESOLUTION MENU

Pursuant to Subparagraph 12.3, if neither direct discussions nor mediation successfully resolve the
Claim, the parties agree the following shall be used to resolve the Claim.

(Check the appropriate selection(s). These procedures can be used singularly, or progressively as
agreed to by the parties.)

	 	 	 
	o

	 	Dispute Review Board The Dispute Review Board is composed of one member
selected by the Owner, one selected by the Contractor, and a third member
selected by the two Owner and Contractor selected members. This Board shall be
selected by the time construction commences, shall meet periodically, and shall
make advisory decisions which may be introduced into evidence at any subsequent
dispute resolution process. If a Dispute Review Board is selected, it is
understood its review will precede mediation.
	 
	 	 
	o

	 	Advisory Arbitration Advisory Arbitration shall be pursuant to the Construction
Industry Rules of the American Arbitration Association.
	 
	 	 
	o

	 	Mini Trial Each party, in the presence of top management, shall submit its
position to a mutually selected individual who shall make a non-binding
recommendation to the parties. Such advisory decision may be introduced into
evidence at any subsequent dispute resolution process.
	 
	 	 
	þ

	 	Binding Arbitration Binding Arbitration shall be
pursuant o the Construction Industry Rules of the
American Arbitration Association unless the parties
mutually agree otherwise. A written demand for
arbitration shall be filed with the American Arbitration
Association and the other party to the Agreement within a
reasonable time after the dispute or claim has arisen,
but in no event after the applicable statute of
limitations for a legal or equitable proceeding would
have run. The location of the arbitration proceedings
shall be at the office of the American Arbitration
Association nearest the Project site, unless the parties
agree otherwise. The arbitration award shall be final.
Notwithstanding Paragraph 13.2, this agreement to
arbitrate shall be governed by the Federal Arbitration
Act and judgment upon the award may be confirmed in any
court having jurisdiction.
	 
	 	 
	o

	 	Litigation Action may be filed in the appropriate state
or federal court located in the jurisdiction in which the
Project is located.

AGC DOCUMENT NO. 200 STANDARD FORM OF AGREEMENT AND GENERAL CONDITIONS BETWEEN OWNER AND CONTRACTOR
(Where the Contract Price is a Lump Sum)

20exv10w2

 

EXHIBIT 10.2

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Form 5131 (9-2005)
	CTL 2: 102

	 	CTL 3: 268
	 	Customer No: 138039
	 	Note No: 151
	 	Note Date: October 14, 2005

Farm Credit Services of America

PROMISSORY NOTE (INSTALLMENT LOAN) AND LOAN AGREEMENT

For value received, I/we, the undersigned Maker(s), jointly and severally promise to pay in U.S.
dollars to Farm Credit Services of America, PCA, Lender, at its office in Omaha, Nebraska,
or order, the principal sum of SEVEN HUNDRED SIXTY THOUSAND, $760,000.00, (Maximum
Principal Balance), plus interest on the principal remaining from time to time unpaid.

MAXIMUM PRINCIPAL BALANCE/ADDITIONAL ADVANCES OPTION (THIS DOES NOT CONSTITUTE A COMMITMENT BY
LENDER TO MAKE ANY TYPE OF ADVANCE): Lender, at its option, may advance sums to Maker(s) up to the
Maximum Principal Balance until October 15, 2005 (Final Advancement Date).

Budgeted Credit: Each advance made will reduce the funds available for future advances by
the amount of the advance. Repayments of principal will NOT be available for subsequent
advances.

INTEREST RATE OPTION: Interest will accrue at the Initial Interest Rate of 7.050 percent
per annum, with interest thereafter at the rate provided in the interest rate option specified
below unless the Default Interest provision has been invoked on the loan.

Restrictions on Maximum Principal Balance/Additional Advances: The right to request and receive
funds is not assignable. Lender may determine whether Maker(s) continues to meet Lender’s credit
standards at the time of each requested advance. Lender, in its sole discretion, may decrease the
funds available for disbursement following this review. The obligation to advance funds may be
terminated prior to the Final Advancement Date or before funds available for disbursement following
this review. The obligation to advance funds may be terminated prior to the Final Advancement Date
or before the Maximum Principal Balance is reached if intervening liens have been filed on any
collateral given or pledged to secure payment of this loan since the date of closing, including the
filing of a notice of lis pendens, or any Maker or guarantor has given written notice to Lender to
terminate this provision of this Note. Lender’s termination of this provision will not alter
my/our obligation to make the payments as specified in this Note.

Protective Advances: Lender may make advances to protect the collateral for this Note: such
advances may be added to the Maximum Principal Balance stated above and will, at Lender’s option,
be immediately due and payable and bear interest at the default interest rate from the date
advanced until paid.

Variable Interest Rate: The interest rate is variable until maturity. A higher or lower
rate of interest may be established for any individual Loan Pricing Classification (ILPC)
Index for which the loan from time to time qualifies: this higher or lower rate will
thereupon apply to the outstanding principal balance of the debt evidenced hereby and will
remain in effect until a different rate of interest is established. The amount of each
subsequent payment will be increased or decreased accordingly to reflect the different rate
of interest without in any manner changing the due date of the payments. Lender may have
up to 15 days from any Index change to change the rate. There is no limitation on the
frequency or the amount of the change in the interest rate.

The amount of the change is based on the ILPC LIBOR Short-Term Index with a
3.000 percent spread.

Lender may adjust (increase or decrease) the interest rate on November 15, 2005 and
every 001 months thereafter.

REPAYMENT: I/We will repay the loan as follows:

	 	 	 	 	 	 	 	 	 
	No.	 	Each Due	 	Amount and Type (Each Payment)	 	Begin Date	 	End Date
	 
	 	 	 	 	 	 	 	 
	1

	 	Annually
	 	$760,000.00 Principal,
plus interest on the unpaid
principal balance
	 	12/01/2005
	 	12/01/2005

The amount of the first payment may be larger or smaller than shown above depending upon the actual
number of days between loan closing and the first payment due date. The actual payment amount of
all other payments may vary according to the interest rate then in effect and the outstanding
principal balance.

Payments will be made at the location identified by Lender. Any amounts submitted by me/us will,
at Lender’s option, be applied first to the payment of default interest, then to protective
advances and fees, then to accrued interest, and finally to principal to the extent of the amount
submitted.

LATE CHARGES: Late charges may be assessed when any amount of a schedule payment is past due. Late
charges are 0.50 percent of amount past due and may be assessed after the payment due date and
every 15 days thereafter up to 60 days past the due date. Late charges may be added to your
principal balance and interest may be charged thereon.

ADDITIONAL PAYMENTS: This additional payment provision applies to any payment of principal that
exceeds the principal payment specified in the Repayment provisions of this Note. Additional
payments will not postpone, defer, or alter the amount or due date of any payments required by this
Note. The obligation to continuously make scheduled payments remains in force until this Note is
paid in full.

	 	 	 
	App #: 44098; CIF #: 138039; Note #: 151                                   050LM

	 	Legal Doc. Date: October 14, 2005
	FORM 5131, Promissory Note (Installment Loan) and Loan Agreement

	 	Page 1

 

 

Additional Payments: Additional payments may be made in any amount at any time to reduce
the principal owning hereunder.

CARRY FORWARD INTEREST: Upon request, this note may also include accrued and unpaid interest from
previous indebtedness to Lender. This will be the starting balance on Lender’s books for the
interest accrual on this note and is not alone cause for the note to be considered due, past due or
in default.

DEFAULT INTEREST: If any principal, interest, or advance is past due, regardless of the length of
time, or if there is any failure to comply with any covenant, condition, or agreement contained in
this Note, in any loan agreement, or in any mortgage, trust deed, security agreement, or other
document given to secure payment of this Note, then, at the election of the holder hereof, all
principal, all accrued interest thereon, and all advances will become immediately due and payable
without presentment or demand and the whole will bear interest at the default interest rate from
the date of election until paid. Any attorney fees (to the extent allowed by law), costs, or
expenses incurred and advanced by holder to enforce collection of this Note will be added to the
principal and bear interest at the default interest rate from the date of advance until paid. At
Lender’s option, any condition of default may result in interest being charged on all principal,
all accrued interest thereof, and all advances at the default rate without declaring the loan in
default.

Variable Rate: Default interest will be assessed at a rate which is 6.00 percent per annum
higher than the ILPC Prime Rate Index. If the loan is subsequently brought current, the
ILPC may be re-evaluated and the interest rate adjusted as provide in the Interest Rate
Option provision of this Note.

ASSUMPTIONS: This Note is assumable only at the sole discretion of the holder.

WAIVERS AND OTHER PROVISIONS: The Maker(s) and any endorsers, sureties, and guarantors of this
Note hereby severally waive presentment, demand, notice of nonpayment, protest, notice of protest,
and due diligence in enforcing the payment hereof and consent that the time of payment may be
extended from time to time by holder without notice. Each Maker hereby binds their separate
estate, existing now or hereafter acquired, for the payment of this Note and agrees that any
release of any collateral or of any person liable hereon will not operate as a release of any other
Maker, endorser, surety, or guarantor.

In consideration of the advances of any credit by AgriBank, FCB to Lender in reliance upon this
Note, the Makers, sureties, and guarantors of this Note hereby severally waive any and all defenses
or right of offset which they may have, individually or collectively, against Lender and its
successors or assigns under this Note.

LOAN AGREEMENT: This Note includes the provisions on the back hereof or attached hereto and any
addenda or amendments thereto or replacement thereof.

Collateral: This Note is secured by trust deed/mortgage(s) dated 10/14/2005 including any
addendums.

LOAN AGREEMENT: I/We further understand and agree or certify as follows:

1. Disbursement Authorization. Any person executing this Promissory Note and Loan Agreement
(Agreement) is authorized to request, accept, receive, and receipt for all or any portion of the
proceeds of the loan(s) or of any refinance, conversion, extension, additional loan,
reamortization, or revision of the same and to execute and approve all agreements required by
Lender in the disbursement of loan proceeds.

Any one of those who have executed and signed this Agreement may initiate/request either by phone,
in person, or in writing, disbursements or advances in the form of check, wire, or electronic
transfer to an account specified by the requester. Lender may also disburse or retain form the
initial loan proceeds of any subsequent advance of proceeds any amount required to: (a) purchase
stock as set out above; (b) pay any fees or charges assessed in connection with any loan, loan
servicing action, or other service, including optional financial services provided by or through
Lender; (c) obtain any evidence of title to any property, real or personal, which secure the loan
(s); (d) satisfy any loan closing or title requirements necessary to clear title or obtain a first
lien on loan collateral; (e) pay any letters of credit issued for or on behalf of me/us; and (f)
otherwise close the loan.

2. Stock Ownership/Voting Member. Stock ownership and voting requirements are already established
as acknowledged in other documents with Farm Credit Services of America.

3. Financial Information. To provide Lender on request with financial information in a format
acceptable to Lender.

4. Cross Default. Declaration of default under any loan may, at Lender’s option, cause all loans
to be in default, charged interest at the default rate stated in the note(s), and declare all sums
loaned or advanced and all accrued interest thereon to be immediately due and payable.

The loan(s) may be declared in default for: (a) providing false, misleading, or incomplete
information to Lender for the purpose of influencing the decision(s) of Lender; (b) selling,
transferring, or disposing of property, whether or not the property is collateral for the loan(s),
with the intent to defraud Lender; (c) using loan proceeds for purposes not designated and approved
in the loan application; (d) failure to comply with any term, covenant, or agreement in any loan
application, note, mortgage, trust deed, security agreement, loan agreement, or other document or
instrument executed in connection with any loan.

5. Environmental Declaration. All known sources of existing or potential environmental
contamination on or near any property owned or operated by me/us have been fully disclosed to
Lender; to comply fully with all applicable environmental laws and promptly inform Lender of any
environmental contamination discovered on or near any property I/we own or operate; to promptly
notify

	 	 	 
	App #: 44098; CIF #: 138039; Note #: 151                                   050LM

	 	Legal Doc. Date: October 14, 2005
	FORM 5131, Promissory Note (Installment Loan) and Loan Agreement

	 	Page 2

 

 

Lender if I/we or property owned or operated by me/us is or may be subject to investigation by any
governmental agency for a violation of environmental laws, or is or may be subject to lien for
cleanup of environmental hazards. Further, to hold Lender harmless from any liability for
environmental waste or contamination on any property owned or operated by me/us or liability
imposed as a consequence of my/our activities and will indemnify Lender against all claims, losses,
liabilities, and expenses incurred by Lender as a result thereof. This covenant will survive
cancellation or termination of this Agreement.

6. Set Off. Any voluntary advance conditional payments made by me/us to Lender or any funds held
by Lender in any account are subject to applicable policies and procedures as may be adopted from
time to time. Lender is grated a security interest in all of the above funds and may exercise the
right to apply these funds against any loans or other obligations I/we may owe Lender.

7. Legal Authority/Compliance with Laws. That I/we are, and shall continue to be, dully organized
validly existing and/or legally qualified to do business under the laws of the states in which I/we
operate, in compliance with federal, state and local laws or regulations, and have legal authority
in such states to conduct my/our business operations and to own agricultural real estate. No
change has been made in the name, ownership, control, legal status or organizational documents of
any undersigned legal entity since the time any such information was last provided to Lender.

8. Rights in Third Parties. No loan approved hereunder confers any contractual rights or benefits
on any third party.

9. No Commitment. Nothing contained in this or any other document or instrument executed in
connection with the loan(s) will be construed to obligate Lender to make any loan, refinance,
advance, revisions, or disbursement for any purpose. All advances and disbursements are at the
option of Lender based on Lender’s standards existing at the time of the requested advance or
disbursement.

10. Disclosure. I/we certify that: (1) I/we have received a copy of the “Customer Information and
Disclosure Handbook” and (2) ALL the information provided at any time by me/us or on my/our behalf
to Lender is true, accurate, and correct. I/We may designate in writing to Lender the person to
receive future effective interest rate disclosures. Unless so designated, Lender may provide such
disclosures to any party liable on this note.

11. Construction. The term “I/we” shall be construed to include the neuter gender and legal
entities as required by context. Paragraph headings are illustration only.

12. Designation of Payer of Record. Siouxland Ethanol LLC is identified as the primary
customer/payer of record on this loan on behalf of all liable parties to accept and receive tax
notices and any dividends, patronage or other distributions declared under the Bylaws of Lender.
This designation will remain in effect until Lender is notified in writing by all liable parties of
any change.

 

LENDER ENDORSEMENT — FARM CREDIT SERVICES USE ONLY: Pay to the order of AgiBank, FCB. For value
received, we guarantee the payment of the within Note with interest according to its terms, or any
renewal or extension thereof, and agree to pay all expenses of collection thereof, or in the
enforcement of this guarantee, including reasonable attorney fees; and we waive demand for payment,
notice of default or nonpayment, protest and notice of protest, presentment, notice of extension,
notice of substitution of other collateral, or other indulgence and we agree that the rights of the
holder will remain undisturbed notwithstanding any extensions of time of payment, release and/or
substitution of collateral security or other indulgence granted by such holder.

The within Note is hereby endorsed by Lender named in the body of said note as if the name of
Lender were actually printed under the endorsement.

 

Taxpayer Identification Number Certification: The Internal Revenue Service (IRS) does not require
your consent to any provision of this document other than the following certification required to
avoid backup withholding. Under penalties of perjury, I certify that (1) the Taxpayer
Identification Number shown herein is correct (2) I am not subject to backup withholding either
because I am exempt, have not been notified that I am subject to backup withholding, and (3) I am a
U.S. person (including U.S. resident alien.

Certification Instructions. You must cross out item 2 if you have been notified by the IRS that
you are currently subject to backup withholding because you have failed to report all interest and
dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage
interest paid, acquisition or abandonment of security property, cancellation of debt, contributions
to an individual retirement arrangement (IRA), and generally, payments other than interest and
dividends, you are not required to sign the Certification, but you must provide your correct TIN.

Siouxland Ethanol LLC (22-3902184)

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Siouxland Ethanol LLC, A Limited Liability Company	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	By
	 	          /s/ Tom Lynch
	 	 	 	By
	 	          /s/ Shennen Saltzman	 	 
	 

	 	 	 	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Tom Lynch, President
	 	 	 	 	 	Shennen Saltzman, Member	 	 

	 	 	 
	App #: 44098; CIF #: 138039; Note #: 151                                   050LM

	 	Legal Doc. Date: October 14, 2005
	FORM 5131, Promissory Note (Installment Loan) and Loan Agreement

	 	Page 3

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