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5- = 001024 <br />This Promissory Note and the rights and duties of the parties hereto <br />and all endorsers, sureties and guarantors hereon shall be governed <br />by the laws of the State of Iowa. <br />This Promissory Note constitutes.the continuing indebtedness of the <br />undersigned to SURCO as described hereinabove and nothing herein <br />contained shall be construed to deers this Promissory Note a payment, <br />prepaym*nt, or novation of the indebtedness incurred pursuant to <br />the Crude Oil Sales Agreement or to release or terminate any liens, <br />security interests or other collateral granted under the Security <br />Agreement or the Mortgages to secure payment of amounts owing <br />under the Crude 011 Sales Agreement. <br />PESTER REFINING COMPANY <br />a ester, <br />Chairman of the Board <br />-3- <br />19 <br />in <br />