Amendment to Distiller’s Grain Marketing Agreement between Granite Falls Energy, LLC and CHS Inc.
Granite Falls Energy, LLC and CHS Inc. have amended their existing Distiller’s Grain Marketing Agreement, effective June 7, 2010. The amendment updates the description of products to be sold, specifying that Granite Falls Energy will sell all bulk feed grade DDGS output from its plant to CHS Inc., except for sales to the Montevideo Intermodal facility, which are excluded from fees or commissions to CHS Inc. All other terms of the original agreement remain unchanged.
Exhibit 10.2
AMENDMENT
TO
DISTILLERS GRAIN MARKETING AGREEMENT
This AMENDMENT TO DISTILLERS GRAIN MARKETING AGREEMENT (the Amendment) is entered into effective as of June 7, 2010, by and between Grainte Falls Energy, LLC, a Minnesota limited liablity company (the Seller) and CHS Inc., a Minnesota cooperative corporation (the Buyer).
RECITALS
A. Seller and Commodity Specialists Company entered into a certain Distillers Grain Marketing Agreement dated as of December 1, 2004, which was subsequently assigned by Commodity Specialists Company to Buyer (the Agreement); and
B. Subject to the terms and conditions set forth herein, Seller and Buyer desire to amend description of the Products to be sold under the Agreement, as provided herein.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. Purchase and Sale. The first sentence of Section 2 of the Agreement is deleted and replaced in its entirety with the following:
Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller the entire bulk feed grade DDGS output from Sellers plant at Granite Falls Minnesota (hereinafter, the Plant), other than the Montevideo Intermodal facility sales (defined below), subject to all terms and conditions set forth in this Agreement. Notwithstanding the foregoing, the parties agree that Seller may sell DDGS from the Plant to Montevideo Intermodal facility, or its subsidiaries (collectively, Motevideo Intermodal) for delivery to the Montevideo Intermodal container loading facility located in Montevideo, Minnesota, without any fees, commissions or amounts due Buyer, provided that Seller notifies Buyer of the quantity to be sold under this provision prior to any such sale.
2. Reminaing Terms Unchanged. Except as set forth in this Amendment, all terms of the Agreement shall remain unchanged and in full force and effect.
3. Definitions. Any capitalized term not defined in this Amendment shall have the meaning set forth in the Agreement.
4. Counterparts This Amendment may be executed in any number of counterparts, each of which shall be an original, but all of which will constitute on in the same instrument. Any executed counterpart of this Amendment delivered by facsimile or other electronic transmission to a party to the Amendment will constitute an original counterpart of this Amendment.
IN WITNESS WHEREOF, the undersigned have duly executed this Amendment effective as of the date first above written.
Granite Falls Energy, LLC |
| CHS Inc. | ||
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By: | /s/ Tracey L. Olson |
| By: | /s/ Steve Markham |
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Its: | CEO/GM |
| Its: | Merchant |