LEASES

GFE has a lease agreement with a leasing company for 75 hopper cars to assist with the transport of distiller's grains by rail. In November 2010, the original lease was renewed for an additional five-year period. Based on final manufacturing and interest costs, the Company will pay the leasing company $620 per month plus $0.03 per mile traveled in excess of 36,000 miles per year. Rent expense for these leases was $557,000, $552,000 and $553,000 for the fiscal years ended October 31, 2013, 2012 and 2011, respectively.

GFE has lease agreements with three leasing companies for 176 rail car leases for the transportation of the Company's ethanol with various maturity dates through October 2017. The rail car lease payments are due monthly in the aggregate amount of approximately $121,000. Rent expense for these leases was $1,437,000, $1,278,000 and $1,171,000 for the fiscal years ended October 31, 2013, 2012 and 2011, respectively.

HLBE leases equipment, primarily rail cars, under operating leases through 2017. Rent expense for fiscal 2013, 2012, and 2011 was approximately $1,800,000, $2,200,000, and $1,800,000, respectively.

At October 31, 2013, the Company had the following commitments for payments of rentals under operating leases which at inception had a non-cancelable term of more than one year:



November 1, 2013 to October 31, 2014	$	2,602,286
November 1, 2014 to October 31, 2015	1,640,775
November 1, 2015 to October 31, 2016	940,910
November 1, 2016 to October 31, 2017	474,004
November 1, 2017 to October 31, 2018	60,816
Total minimum lease commitments	$	5,718,791