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EQUIPMENT LEASE AGREEMENT THIS EQUIPMENT LEASE AGREEMENT (this "Lease") is made as of the 17th day of July, 2014, by and between the SOUTH BEND REDEVELOPMENT COMMISSION ("Lessor"), organized and existing under Indiana Code 36-7-14, and NOBLE AMERICAS SOUTH BEND ETHANOL LLC ("Lessee"). RECITALS A. Lessor, the governing body of the City of South Bend, Indiana, Redevelopment District and the City of South Bend, Indiana, Department of Redevelopment, exists and operates under the provisions of Indiana Code Section 36-7-14, as amended from time to time (the "Act"). B. Lessor desires to foster redevelopment and economic development within the City of South Bend, Indiana(the "City"). C. Lessee owns an ethanol production facility located in South Bend, IN, capable of producing up to 100,000,000 gallons of ethanol per year. The company has begun a project that will involve restart, re-commissioning, significant upgrades and subsequent operations of this facility after being idle since November 2012 (the "South Bend Operations"). D. The upgrades proposed by Lessee would include substantial maintenance and capital expenditures activities, as well as installation of incremental on-site projects to improve and stabilize the operations of the facility(the"Project Upgrades") E. In order to more fully develop the Project Upgrades and expand its applications, Lessee requires the Equipment (as defined below), to be used in connection with the South Bend Operations. F. The Project Upgrades proposed by Lessee would include substantial maintenance and capital expenditures activities, as well as installation of incremental on-site projects to improve and stabilize the operations of the facility, and the creation of new jobs in the City of South Bend. G. Lessor owns the Equipment(as defined below)described on the attached Schedule A. H. As a material inducement for Lessor to enter into this Lease upon the terms provided herein, and in connection with that certain Economic Development Memorandum of Understanding dated [ ], 2014, by and between Lessor and Lessee (the "MOU"), Lessee has agreed to complete the Project Upgrades in the total amount of $31,175,000.00, referenced in the MOU and to create the number of jobs of the types and wage ranges also referenced in the MOU,upon the terms and subject to the conditions set forth herein and in the MOU. I. In connection with the foregoing, Lessee now desires to lease the Equipment from Lessor, and Lessor now desires to lease the Equipment to Lessee, upon the terms and subject to the conditions set forth in this Lease.