Document:

exv4w3

 

Exhibit 4.3

ESCROW AGREEMENT

     THIS
ESCROW AGREEMENT (this “Agreement”) is made this  19th  day of
March, 2007, by and between Northwest Iowa Renewable Energy, LLC, an Iowa limited liability
company, with its principal offices in Akron, Iowa, (“NIRE”), Security National Bank, Sioux City,
Iowa, as escrow agent (the “Escrow Agent”) and 1st National Bank of Akron, Iowa (“First
National Bank”).

RECITALS

     WHEREAS, NIRE intends to offer at least 38,100 of its Membership Units (the “Units”), with a
required minimum investment of twenty (20) Units per investor at the price of $1,000 per Unit in an
offering in the States of Colorado, Iowa, Nebraska and South Dakota, and possibly other states,
made pursuant to a federal registration under the provisions of the Securities Act of 1933, as
amended (the “Offering”);

     WHEREAS, NIRE will allow investors in the Offering (the “Subscribers”) to deliver the purchase
price of the subscribed Units in ten percent (10%) and ninety percent (90%) installments; and

     WHEREAS, NIRE desires to comply with the requirements of the Securities Act of 1933, the Iowa
Securities Act and the various federal and state regulatory statutes and regulations, and desires
to protect the Subscribers by providing, under the terms and conditions herein set forth, for the
return to Subscribers of the money which they may pay on account of purchases of Units in the
Offering if the Minimum Escrow Deposit (hereinafter defined) is not deposited with the Escrow
Agent.

     NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good
and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree
as follows:

1. ACCEPTANCE OF APPOINTMENT: Escrow Agent hereby agrees to act as escrow agent under this
Agreement. The Escrow Agent shall have no duty to enforce any provision hereof requiring
performance by any other party hereunder.

2. ESTABLISHMENT OF ESCROW ACCOUNT: An escrow account (the “Escrow Account”) is hereby
established with the Escrow Agent for the benefit of the investors in the Offering. Except as
specifically provided in this Agreement, the Escrow Account shall be created and maintained subject
to the customary rules and regulations of the Escrow Agent pertaining to such accounts.

3. OWNERSHIP OF ESCROW ACCOUNT: Until such time as the funds deposited in the Escrow
Account (the “Deposited Funds”) shall equal the Minimum Escrow Deposit (as hereinafter defined),
all funds deposited in the Escrow Account by NIRE shall not become the property of NIRE

1

 

 or be
subject to the debts of NIRE or any other person but shall be held by the Escrow Agent solely for
the benefit of the investors who have purchased Units in the Offering.

4. ESCROW FEES: NIRE hereby agrees to pay to the Escrow Agent an annualized fee of 0.1%
from the monthly fund yield, which fees shall be paid exclusively from the interest on the Escrow
Account and not from principal.

5. DEPOSIT OF PROCEEDS: All proceeds from sales of Units in the Offering shall be
delivered by NIRE to First National Bank within forty-eight hours of the receipt thereof from
investors, endorsed (if appropriate) to the order of the Escrow Agent, together with an appropriate
written statement setting forth the name, address and social security number/taxpayer
identification number of each person or entity purchasing Units, the number of Units purchased, and
the amount paid by each such purchaser. First National Bank shall deposit all funds into an account
established by Escrow Agent at First National Bank. Any such proceeds deposited with First
National Bank in the form of uncollected checks shall be promptly presented by First National Bank
for collection through customary banking and clearing house facilities. The funds in the account
maintained at First National Bank shall be swept daily into the Escrow Account which will be
established pursuant to paragraph 2 herein. As the proceeds of each sale are deposited with the
Escrow Agent, NIRE shall reserve the number of Units confirmed to the purchaser thereof in
connection with such sale. All such deposited proceeds are referred to herein as the “Escrow
Funds.”

6. INVESTMENT OF ESCROW FUNDS: The Escrow Funds shall be credited by Escrow Agent and
recorded in the Escrow Account. The Escrow Agent shall be permitted, and is hereby authorized to
deposit, transfer, hold and invest all funds received under this Agreement, including principal and
interest, in the Goldman Sachs Financial Square Government Fund (CUSIP #38141W273) (the “Fund).

Any interest received by Escrow Agent with respect to the Escrow Funds shall be paid pursuant to
the terms of this Agreement.

7. TERMINATION OF ESCROW: This Agreement and the Escrow created hereunder shall be
terminated as provided in paragraph 8 hereof or as of the date in calendar year 2008 (the
“Termination Date”) one year and one day following the date in calendar year 2007 upon which the
Securities and Exchange Commission authorizes the Offering (the “Offering’s Effective Date”),
provided; however, that if prior to Termination Date, NIRE has sold membership units equal to the
minimum offering amount and NIRE has advised the purchasers of those membership units to remit to
the Escrow Agent the balance of the purchase price, then the Escrow may continue beyond the
Termination Date until all Funds have been paid and the conditions for releasing the Funds have
been satisfied. In no event shall this date be later than three (3) months following the
Termination Date. NIRE shall notify Escrow Agent of the Offering’s Effective Date within thirty
(30) days of the receipt of notice of the Offering’s Effective Date from the Securities and
Exchange Commission.

8. DISPOSITION OF ESCROW FUNDS: The Escrow Agent shall have the following duties and
obligations under this Agreement:

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     A. The Escrow Agent shall send a written notice acknowledging the receipt of the Deposited
Funds every seven days to NIRE.

     B. The Escrow Agent shall give NIRE prompt written notice when the Deposited Funds equal
$3,810,000 (exclusive of interest). Following receipt of such notice, NIRE will advise the
purchasers of Units to remit to the Escrow Agent the balance of the purchase price within twenty
(20) days. Thereafter, Escrow Agent shall give NIRE written notice acknowledging the receipt of
the Deposited Funds every seven days. The Escrow Agent shall give NIRE prompt written notice when
the Deposited Funds total $38,100,000 (exclusive of interest).

     C. At the time (and in the event) that: (a) the Deposited Funds shall, during the term of this
Agreement, equal $38,100,000 in subscription proceeds (exclusive of interest) (the “Minimum Escrow
Deposit”); (b) the Escrow Agent shall have received written confirmation from NIRE that NIRE has
obtained a written debt financing commitment for debt financing ranging from a minimum of
$33,788,750 to a maximum of $46,588,750; (c) NIRE has affirmatively elected in writing to terminate
this Agreement; and (d) the Escrow Agent shall have provided NIRE an affidavit that NIRE may file
with the Iowa and South Dakota Securities Bureaus stating that the foregoing requirements (a), (b)
and (c) of this subsection 8C have been satisfied, then this Agreement shall terminate, and the
Escrow Agent shall promptly disburse the funds on deposit, including interest, to NIRE to be used
in accordance with the provisions set out in the Prospectus. NIRE will deliver a copy of the
Prospectus to the Escrow Agent upon execution of this Agreement. The Escrow Agent will have no
responsibility to examine the Prospectus with regard to the Escrow Account or otherwise, nor shall
Escrow Agent have any duty to ensure that Company complies with the Prospectus. Upon the making of
such disbursement, the Escrow Agent shall be completely discharged and released of any and all
further responsibilities hereunder.

     D. In the event the Deposited Funds do not equal or exceed the Minimum Escrow Deposit on or
before the Termination Date or if NIRE has not received a written debt financing commitment as
described herein on or before the Termination Date, the Escrow Agent shall return to each of the
purchasers of the Units in the Offering, as promptly as possible after such Termination Date and on
the basis of its records pertaining to the Escrow Account: (a) the sum which each purchaser
initially paid in on account of purchases of the Units in the Offering and (b) each purchaser’s
portion of the total interest earned on the Escrow Account as of the Termination Date, (c) reduced
by the transaction fees provided in paragraph 10 hereof. Computation of any purchaser’s share of
the net interest earned will be a weighted average based on the proportion of such purchaser’s
deposit in the Escrow Account from the Offering to all such purchasers’ deposits held by the Escrow
Agent and upon the length of time in days such deposit was held in the Escrow Account as compared
to all such deposits. All computations with respect to each purchaser’s allocable share of net
interest shall be made by the Escrow Agent, which determinations shall be final and conclusive.
Any amount paid or payable to a purchaser pursuant to this paragraph shall be deemed to be the
property of such purchaser, free and clear of any and all claims of NIRE or its agents or
creditors; and the respective purchases of the Units made and entered into in the Offering shall
thereupon be deemed, ipso facto, to be cancelled without any further liability of the purchasers or
any of them to pay for the Units purchased. At such time as the Escrow Agent shall have made all

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the payments called for in this paragraph, the Escrow
Agent shall be completely discharged and released of any and all further responsibilities
hereunder, and the Units reserved (as provided in paragraph 5) shall be released from such
reservation, except that Escrow Agent shall be required to prepare and issue a single IRS Form 1099
to each investor in the event that funds are returned to investors.

9. LIABILITY OF ESCROW AGENT AND FIRST NATIONAL BANK: In performing any duties under the
Escrow Agreement, neither the Escrow Agent nor First National Bank shall be liable to NIRE, any
subscriber/purchaser or any Party for damages, losses, or expenses, except for gross negligence or
willful misconduct on the part of the Escrow Agent or First National Bank. Neither the Escrow
Agent nor First National Bank shall incur any such liability for (I) any act or failure to act made
or omitted in good faith, or (II) any action taken or omitted in reliance upon any instrument,
including any written statement or affidavit provided for in this Agreement that the Escrow Agent
shall in good faith believe to be genuine, nor will the Escrow Agent be liable or responsible for
forgeries, fraud, impersonations, or determining the scope of any representative’s authority. In
addition, the Escrow Agent and First National Bank may consult with legal counsel in connection
with First National Bank and the Escrow Agent’s duties under this Agreement and shall be fully
protected in any action taken, suffered, or permitted by it in good faith in accordance with the
advice of counsel. The Escrow Agent and First National Bank are not responsible for determining
and verifying the authority of any person acting or purporting to act on behalf of any party to
this Agreement.

10. FEES AND EXPENSES: In the event the Deposited Funds do not equal or exceed the Minimum
Escrow Deposit before the Termination Date or NIRE does not receive a written debt financing
commitment as described herein before the Termination Date, the Escrow Agent shall be entitled to a
fee of $10 per purchaser, which fees shall be paid from the interest on the Escrow Account only and
not from principal. In the event the Escrow Agent renders any service not provided for in this
Agreement, or if NIRE requests a substantial modification of its terms, or if any controversy
arises, or if the Escrow Agent is made a party to, or intervenes in, any litigation pertaining to
this escrow or its subject matter, the Escrow Agent shall be reasonably compensated for such
extraordinary services and reimbursed for all costs, attorney’s fees, including allocated costs of
in-house counsel, and expenses occasioned by such default, delay, controversy or litigation and the
Escrow Agent shall have the right to retain all documents and/or other things of value at any time
held by the Escrow Agent in this escrow until such compensation, fees, costs and expenses are paid.
NIRE promises to pay these sums upon demand. Unless otherwise provided, NIRE will pay all of the
Escrow Agent’s usual charges and the Escrow Agent may deduct such sums from the interest on the
Escrow Account only and not from principal deposited to the Escrow Account.

11. CONTROVERSIES: If any controversy arises between the Parties to this Agreement, or
with any other Party, concerning the subject matter of this Agreement, its terms or conditions, the
Escrow Agent will not be required to determine the controversy or to take any action regarding it.
The Escrow Agent may hold all documents and funds and may wait for settlement of any such
controversy by final appropriate legal proceedings or other means as, in the Escrow Agent’s
discretion, the Escrow Agent may require, despite what may be set forth elsewhere in

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this Agreement. In such event, the Escrow Agent will not be liable for interest or damage.
Furthermore, the Escrow Agent may at its option file an action of interpleader requiring the
Parties to answer and litigate any claims and rights among themselves. The Escrow Agent is
authorized to deposit with the clerk of the court all documents and funds held in escrow, except
all costs, expenses, charges and reasonable attorney fees incurred by the Escrow Agent due to the
interpleader action and which NIRE agrees to pay. Upon initiating such action, the Escrow Agent
shall be fully released and discharged of and from all obligations and liability imposed by the
terms of this Agreement.

12. INDEMNIFICATION OF ESCROW AGENT: NIRE and its successors and assigns agree jointly and
severally to indemnify and hold the Escrow Agent harmless against any and all losses, claims,
damages, liabilities, and expenses, including reasonable costs of investigation, counsel fees,
including allocated costs of in-house counsel and disbursements that may be imposed on the Escrow
Agent or incurred by the Escrow Agent in connection with the performance of its duties under this
Agreement, including but not limited to any litigation arising from this Agreement or involving its
subject matter. The Escrow Agent shall have a first lien on the property and papers held under
this Agreement for such compensation and expenses.

13. RESIGNATION OF ESCROW AGENT: The Escrow Agent may resign at any time upon giving at
least (30) days written notice to NIRE provided, however, that no such resignation shall become
effective until the appointment of a successor escrow agent which shall be accomplished as follows:
NIRE shall use its best efforts to obtain a successor escrow agent within thirty (30) days after
receiving such notice. If NIRE fails to agree upon a successor escrow agent within such time, the
Escrow Agent shall have the right to appoint a successor escrow agent authorized to do business in
the state of Iowa. The successor escrow agent shall execute and deliver an instrument accepting
such appointment and it shall without further acts, be vested with all the estates, properties,
rights, powers, and duties of the predecessor escrow agent as if originally named as escrow agent.
The Escrow Agent shall thereupon be discharged from any further duties and liability under this
Agreement.

14. AUTOMATIC SUCCESSION: Any company into which the Escrow Agent may be merged or with
which it may be consolidated, or any company to whom the Escrow Agent may transfer a substantial
amount of its global escrow business, shall be the Successor to the Agent without the execution or
filing of any paper or any further act on the part of any of the Parties, anything herein to the
contrary notwithstanding.

15. MISCELLANEOUS:

     (a) GOVERNING LAWS: This Agreement is to be construed and interpreted according to
Iowa law.

     (b) COUNTERPART: This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
instrument. The exchange of copies of this Agreement and of signature pages by facsimile
transmission shall constitute effective execution and delivery of this Agreement as to the parties

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and may be used in lieu of the original Agreement for all purposes. Signatures of the parties
transmitted by facsimile shall be deemed to be their original signatures for all purposes.

     (c) NOTICES: All instructions, notices and demands herein provided for shall be in
writing and shall be deemed to have been duly given (a) on the date of service if served personally
on the party to whom notice is to be given; (b) on the day of transmission if sent by facsimile
transmission to the facsimile number given below and telephonic confirmation of receipt is promptly
obtained after completion of transmission; (c) on the next day on which such deliveries are made in
Akron, Iowa, when delivery is to Federal Express or similar overnight courier or the Express Mail
service maintained by the United States Postal Service; or (d) on the fifth day after mailing if
mailed to the party to whom notice is to be given, by first class mail, registered or certified,
postage prepaid and properly addressed, return receipt requested, to the party as follows:

	 	 	 	 	 
	 

	 	If to NIRE:
	 	If to Escrow Agent:
	 
	 	 	 	 
	 

	 	Northwest Iowa Renewable Energy, LLC
	 	Security National Bank
	 

	 	Attn: John Lucken, Chairman
	 	Attn: Joe Twidwell
	 

	 	221 Reed St.
	 	601 Pierce St.
	 

	 	P.O. Box 366
	 	P.O. Box 147
	 

	 	Akron, Iowa 51001
	 	Sioux City, Iowa 51102
	 

	 	Fax: (712) 568-3211
	 	Fax: (712) 277-6713
	 
	 	 	 	 
	 

	 	with a required copy to:
	 	If to First National Bank
	 
	 

	 	Brown, Winick, Graves, Gross, Baskerville
	 	First National Bank of Akron
	 

	 	&
Schoenebaum, P.L.C.

	 	Attn: Kevin Eekhoff
	 

	 	Attn: Sean Moore
	 	251 Reed Street
	 

	 	666 Grand Avenue, Suite 2000
	 	Akron, IA 51001
	 

	 	Des Moines, IA 50309
	 	Fax: (712) 568-2113
	 

	 	Fax: (515) 323-8550	 	 

     (d) AMENDMENTS: This Agreement may be amended or modified and any of the terms,
covenants, representations, warranties or conditions hereof may be waived, only by a written
instrument executed by the parties hereto, or in the case of a waiver, by the party waiving
compliance. Any waiver by any party of any condition or of the breach of any provision, term,
covenant, representation or warranty contained in the Agreement, in any one or more instances,
shall not be deemed to be nor construed as further or continuing waiver of any such conditions or
of the breach of any other provision, term, covenant, representation or warranty of this Agreement.

     (e) ENTIRE AGREEMENT: This Agreement contains the entire understanding among the
parties hereto with respect to the escrow contemplated hereby and supersedes and
replaces all prior and contemporaneous agreements and understandings, oral or written, with regard
to such escrow.

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     (f) NON-ENDORSEMENT: NIRE represents and agrees that it has not made nor will it in
the future make any representation that states or implies that the Escrow Agent has endorsed,
recommended or guaranteed the purchase, value, or repayment of the Securities offered for sale by
NIRE. NIRE further agrees that it will insert in any prospectus, offering circular, advertisement,
subscription agreement or other document made available to prospective purchasers of the Securities
the following statement in bold face type: “Security National Bank is acting only as an escrow
agent in connection with the Offering described herein, and has not endorsed, recommended or
guaranteed the purchase, value or repayment of such Securities,” and will furnish to the Escrow
Agent a copy of each such prospectus, offering circular, advertisement, subscription agreement or
other document at least 5 business days prior to its distribution to prospective Subscribers.

The undersigned acknowledges that the Security National Bank is acting only as an escrow agent in
connection with the offering of the Securities described herein, and has not endorsed, recommended
or guaranteed the purchase, value or repayment of such Securities.

     IN WITNESS WHEREOF, the parties hereto have hereunto affixed their signatures as of the day
and year first above written.

	 	 	 	 	 	 	 	 	 
	NIRE:	 	 	 	ESCROW AGENT:
	 
	 	 	 	 	 	 	 	 
	NORTHWEST IOWA RENEWABLE ENERGY, LLC	 	 	 	SECURITY NATIONAL BANK
	 
	 	 	 	 	 	 	 	 
	/s/
John E. Lucken
	 	 	 	 	 	/s/ Joseph E. Twidwell
	 	 	 	 	 	 	 
	John Lucken, Chairman	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	Joseph E. Twidwell
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Its:
	 	SVP
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	FIRST NATIONAL BANK:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	FIRST NATIONAL BANK OF AKRON	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Kevin R. Eekhoff	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	President & CEO	 	 	 	 	 	 

7exv10w7

 

Exhibit 10.7

AG VISIONS ENTERPRISES, LLC.-

NORTHWEST IOWA RENEWABLE ENERGY, LLC

CONSULTING AGREEMENT

Phase II

     THIS CONSULTING AGREEMENT (the “Agreement”) is made effective as of the 27th
day of December, 2006 (the “Effective Date”) by and between Ag Visions Enterprises, LLC, of Breda,
Iowa, an Iowa Limited Liability Company (Ag Visions Enterprises) and Northwest Iowa Renewable
Energy, LLC, of Akron, Iowa (“Client”).

WHEREAS, Client intends to develop, finance and construct a biodiesel plant near Akron, Iowa (the
“Project”); and

WHEREAS, Ag Visions Enterprises, an Iowa Limited Liability Company owned by Jim and Becky Venner,
has a background in developing renewable fuels projects and is willing to provide services to
Client based on this background.

NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, Client
hereby engages Ag Visions Enterprises, and Ag Visions Enterprises hereby accepts engagement, upon
the terms and conditions hereinafter set forth.

	 	1.	 	Term. Ag Visions Enterprises engagement with Client shall commence as
of the Effective Date and may be terminated at any time by either party upon thirty
(30) days prior written notice of the party’s intent to terminate this Agreement. Upon
termination, neither Client nor Ag Visions Enterprises shall have any further rights or
obligations under the terms of this Agreement other than delivery of payments for
services to which Ag Visions Enterprises may be entitled through the date of
termination.
	 
	 	2.	 	Services. Ag Visions Enterprises shall serve as the Client’s Project
Consultant and shall p3rform the following duties incident to that service subject to
Client’s approval:

     a. Assist in site selection and negotiate for local and state incentive
packages,

     b. Prepare Business Plan,

     c. Prepare financial plan and submit to selected auditor for forecast,

     d. Assist the negotiations of contracts with various service and product
providers.

     e. Assist the planning of the Client’s equity marketing effort,

     f. Assist the securing of debt financing for and commencement of construction
of the Product,

     g. Assist the education of local lenders including, without limitation, the
preparation of a “banker’s book” tailored to the Project; and

     h. Perform such other reasonably necessary duties as Client may request for the
timely and successful securing of debt financing and

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 commencement of construction of
the Project, including without limitation, cooperating with the Client’s personnel
similarly engaged. Notwithstanding the foregoing, Ag Visions Enterprises shall not
be asked to, or actually, solicit an offer to buy, or accept an offer to sell, any
equity security to be issued by Client.

Subject to Client’s approval, Ag Visions Enterprises shall determine the manner in which the
services are to be performed and the specific hours to be worked by Ag Visions Enterprises.
Client will rely on Ag Visions Enterprises to work as many hours as may be reasonably
necessary to fulfill Ag Visions Enterprises commitments under this Agreement.

3. Employees, Members, Agents. Ag Visions Enterprises’ employees, members, or
agents, if any, who perform services for Client under this Agreement shall also be bound by
the terms of this Agreement.

	 	4.	 	Remuneration. Compensation for services rendered shall be paid to Ag
Visions Enterprises by Client under the following schedule.
	 
	 	 	 	Monthly service fee - $3,000 per month to be paid the last business day of the
month. This service fee also covers Ag Visions Enterprises, LLC expenses for one
(1) monthly NIRE Board meeting.
	 
	 	 	 	Business Plan Bonus - $20,000 upon acceptance of business plan by Northwest Iowa
Renewable Energy’ Board of Directors or within 30 days of initial presentation to
board, whichever occurs first. Financials will accompany with later revisions to be
made on an as needed basis.
	 
	 	 	 	Loan Commitment Bonus - $40,000 upon receipt and the company’s acceptance of the
senior loan commitment. Typically this is following a successful equity drive and
after selection of a lead lender.
	 
	 	 	 	Loan Closing Bonus - $40,000 at time of execution of the definitive documents
required per the senior loan.
	 
	 	 	 	Upon opening of equity drive, Ag Visions Enterprises, LLC will receive $80,000.

Upon termination or this Agreement, payments hereunder shall cease, provided, however, that
Ag Visions Enterprises shall be entitled to payments for periods or partial periods that
occurred prior to the date of termination for which Ag Visions Enterprises has not been
paid.

5. Expenses. Client shall reimburse Ag Visions Enterprises for all reasonable,
ordinary and necessary expenses incurred by Ag Visions Enterprises in performance of its
duties hereunder, including without limitation,

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reimbursement for automobile mileage at the
deduction rate allowed by the Internal Revenue Service for business miles or such other rate
to which the parties hereto may later agree. Payable expenses will exclude one (1) monthly
trip to board meetings.

6. Successors and Assigns Bound. This Agreement shall be binding upon the Client
and Ag Visions Enterprises, their respective heirs, executors, administrators, successors in
interest or assigns, including without limitation, any partnership, corporation or other
entity into which the Client may be merged or by which it may be acquired (whether directly,
indirectly or by operation of law), or to which it may assign its rights under this
Agreement. Notwithstanding the foregoing, any assignment by Ag Visions Enterprises of this
Agreement or of any interest herein, or of any money due to or to become due by reason of
the terms hereof without the prior written consent of Client shall be void.

7. Relationship of the Parties. The parties understand that Ag Visions Enterprises
is an independent contractor with respect to Client, and not an employee of Client. Client
will not provide fringe benefits, including health insurance benefits, paid vacation, or any
other employee benefits for the benefit of Ag Visions Enterprises.

8. Injuries. Ag Visions Enterprises acknowledges Ag Visions Enterprises’ obligation
to obtain appropriate insurance coverage for its own benefit and the benefit of Ag Visions
Enterprises members, employees, and agents. Ag Visions Enterprises waives any rights to
recover from Client for any injuries that Ag Visions Enterprises may sustain while
performing services under this Agreement resulting from the negligence of Ag Visions
Enterprises.

9. Return of Records. Upon termination of this Agreement, Ag Visions Enterprises
shall deliver all records, notes, data, memoranda, models, and equipment
of any nature that are in Ag Visions Enterprises’ possession or Ag Visions Enterprises’
control and that are Client’s property or relate to Client’s business.

10. Waiver. The waiver by the Client of its rights under this Agreement or the
failure of the Client promptly to enforce any provision hereof shall not be construed as a
waiver of any subsequent breach of the same or any other covenant, term or provision.

11. Entire Agreement. This Agreement constitutes the entire Agreement between the parties
hereto with regard to the subject matter hereof, and there are no agreements, understanding
specific restrictions, warranties or representations relating to said subject matter between
the parties other than those set forth herein or herein provided for. This Agreement
terminates and replaces the prior agreement between the Client, and Ag Visions Enterprises.
No amendment or modification of this Agreement shall be valid or binding unless in writing
and

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signed by the party against whom such amendment or modification is to be enforced.

12. Notices. Any notice required to be given hereunder shall be in writing and
shall be deemed to be sufficiently served by either party on the other party if such notice
is delivered personally or is sent by certified or first class mail addressed as follows:

To Ag Visions Enterprises, LLC:

Ag Visions Enterprises, LLC

Attention: Jim Venner

3891 Taylor Avenue

Breda, Iowa 51436

To Client:

Northwest Iowa Renewable Energy, LLC

Attention: John Lucken

PO Box 366

221 Reed Street

Akron, Iowa

13. Governing Law. This Agreement is entered into pursuant to and shall be governed
by and in accordance with the laws of the State of Iowa.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.

	 	 	 	 	 	 	 	 	 
	AG VISIONS ENTERPRISES, LLC	 	 	 	Northwest Iowa Renewable Energy, LLC
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Jim Venner
	 	 	 	By:
	 	/s/ John E. Lucken
	 

	 	 
	 	 	 	 	 	 
	 

	 	Jim Venner	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	President
	 	 	 	Title:
	 	Chairman
	 

	 	 	 	 	 	 	 	 

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