Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - HIGHWATER ETHANOL LLCFinancial_Report.xls
EX-10.102 - AMENDED AND RESTATED CREDIT AGREEMENT - HIGHWATER ETHANOL LLCa10102amendedandrestatedcr.htm
EX-31.2 - CERTIFICATION - HIGHWATER ETHANOL LLCa312-certification10x31x14.htm
EX-31.1 - CERTIFICATION - HIGHWATER ETHANOL LLCa311-certification10x31x14.htm
EX-10.112 - AMENDED AND RESTATED MORTGAGE - HIGHWATER ETHANOL LLCa10112amendedandrestatedmo.htm
EX-10.107 - AMENDED AND RESTATED TERM NOTE UNITED FCS - HIGHWATER ETHANOL LLCa10107amendedandrestatedte.htm
EX-10.105 - AMENDED AND RESTATED RLOC UNITED FCS - HIGHWATER ETHANOL LLCa10105amendedandrestatedrl.htm
EX-10.111 - AMENDED AND RESTATED TERM REVOLVING NOTE UNITED FCS - HIGHWATER ETHANOL LLCa10111amendedandrestatedte.htm
EX-32.2 - CERTIFICATION - HIGHWATER ETHANOL LLCa322-certification10x31x14.htm
EX-10.106 - AMENDED AND RESTATED TERM NOTE BADGERLAND - HIGHWATER ETHANOL LLCa10106amendedandrestatedte.htm
EX-32.1 - CERTIFICATION - HIGHWATER ETHANOL LLCa321-certification10x31x14.htm
EX-10.110 - AMENDED AND RESTATED TERM REVOLVING NOTE BADGERLAND - HIGHWATER ETHANOL LLCa10110amendedandrestatedte.htm
EX-10.104 - AMENDED AND RESTATED RLOC BADGERLAND - HIGHWATER ETHANOL LLCa10104amendedandrestatedrl.htm
EX-10.108 - AMENDED AND RESTATED TERM NOTE AGSTAR - HIGHWATER ETHANOL LLCa10108amendedandrestatedte.htm
10-K - 10-K FYE 10-31-2014 - HIGHWATER ETHANOL LLCa10-kfye10x31x14.htm
EX-10.103 - AMENDED AND RESTATED RLOC AGSTAR - HIGHWATER ETHANOL LLCa10103amendedandrestatedrl.htm


AMENDED AND RESTATED
TERM REVOLVING NOTE
$3,378,378.38    September 22, 2014
FOR VALUE RECEIVED, HIGHWATER ETHANOL, LLC, a Minnesota limited liability company (the "Borrower"), hereby promises to pay to the order of AgStar Financial Services, PCA (the "Bank"): (a) the principal sum of $3,378,378.38, or, if less, (b) the aggregate unpaid principal amount of all Term Revolving Loan Advances (as defined in the Credit Agreement (as defined below)) made by the Bank to the Borrower pursuant to Section 2.03 of the Credit Agreement. The Borrower further agrees to pay interest in like money to the Bank on the unpaid principal amount hereof from time to time outstanding at the rates and on the dates specified in the Credit Agreement, subject to the terms and conditions set forth in the Credit Agreement; all such payments, unless sooner paid, shall be made no later than the Maturity Date. All capitalized terms used and not defined herein shall have the meanings assigned to them in the Credit Agreement. This Amended and Restated Term Revolving Note (this "Term Revolving Note") amends, restates and replaces that certain Term Revolving Note of the Borrower dated February 27, 2014.
This Term Revolving Note is one of the Term Revolving Notes evidencing the Term Revolving Loan referred to in that certain Credit Agreement dated February 27, 2014, which has been amended and restated under that certain Amended and Restated Credit Agreement of even date herewith, among the Borrower, the Bank and the other commercial, banking or financial institutions from time to time parties thereto, and AgStar Financial Services, PCA, as Administrative Agent (the "Agent") (such agreement, as amended and restated, the "Credit Agreement").
This Term Revolving Note is subject to prepayment as provided in the Credit Agreement. This Term Revolving Note is secured as provided in the Loan Documents. Reference is hereby made to the Loan Documents for a description of the properties and assets in which a mortgage, security interest or other lien has been granted, the nature and extent of the security, and the terms and conditions upon which such mortgages, liens and security interests were granted and the rights of the Bank in respect thereof.
Upon the occurrence and during the continuance of any one or more of the Events of Default set forth in Section 6.01 of the Credit Agreement, all amounts then remaining unpaid on this Term Revolving Note shall, at the election of the Agent, be immediately due and payable, all as provided in the Credit Agreement. The Borrower hereby waives demand, presentment, protest and notice of nonpayment and dishonor of this Term Revolving Note.
This Term Revolving Note shall be governed by and construed in accordance with the laws of the State of Minnesota (without reference to the choice of law principles thereof). The Borrower hereby submits to the jurisdiction of any Minnesota State court sitting in Blue Earth County, Minnesota, or Federal court sitting in Minneapolis, Minnesota, in any action or proceeding arising out of or relating to this Term Revolving Note, and the Borrower hereby agrees that claims in respect of such action or proceeding may be heard and determined in such Minnesota State court or in such Federal court. The Borrower hereby waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of such action or proceeding.
 
 
 
HIGHWATER ETHANOL, LLC
 
 
 
a Minnesota limited liability company
 
 
 
 
Date:
January 29, 2015
 
/s/ Brian Kletscher
 
 
 
Brian Kletscher
 
 
 
Chief Executive Officer
 
 
 
(Principal Executive Officer)