RAVENSDOWN APPLICATION FOR CREDIT ACCOUNT GUARANTEE

Customer Number:RAVENSDOWN APPLICATION FOR CREDIT ACCOUNTName of applicant: __________________________________________________________________ Date of birth: _________________________Company Sole Trader Partnership Trust Other (please specify):_______________________________________Trading name: ________________________________________________________________________________________________________Postal address: ___________________________________________________________________________________ Postcode: _____________Location address: ______________________________________________________________________________________________________Phone number: ___________________________ Fax number: _________________________ Mobile number: ______________________________Email address: ________________________________________________________________________________________________________Names of Directors / Partners / Trustees / Sole Trader (if more than four individuals please attach details)Surname First Names Address Private Phone Date of Birth (optional)1. _________________________________________________________________________________________________________________2. _________________________________________________________________________________________________________________3. _________________________________________________________________________________________________________________4. _________________________________________________________________________________________________________________Signing and acknowledgementI/We apply to open a credit account with Ravensdown Fertiliser Co-operative Limited [Ravensdown], and agree to comply with the Terms of Trade on thefollowing page. I/We acknowledge receipt of a copy of the Terms of Trade and waive any right to receive from Ravensdown a copy of any financing statement,financing change statement or verification statement that is registered, issued or received at any time in relation to the Terms of Trade.Signed: ________________________________________________________________ Name: ________________________________________Position: _______________________________________________________________ Date: _________________________________________GUARANTEEIn consideration of Ravensdown agreeing to supply products and services to me/us, we jointly and severally unconditionally and irrevocably guarantee toRavensdown the due and punctual performance by [the Applicant] of all its obligations to Ravensdown (including without limitation the due and punctualpayment of all amounts payable by the Applicant to Ravensdown for the supply of products and/or services howsoever arising). I/we acknowledge that I am/weare deemed a principal debtor as between Ravensdown and me/us, and no indulgence, granting of time, variation of these terms, waiver or forbearance to sueon the part of Ravensdown in any way relieves me/us from liability under this guarantee.Signed as guarantor by each of:__________________________ ____________________________ __________________________ ____________________________Signature: Signature: Signature: Signature:__________________________ ____________________________ __________________________ ____________________________Print Name Print Name Print Name Print NameDate: Date: Date: Date:Please complete entire form and return the original to Ravensdown, PO Box 1049, Christchurch 81401

ADDITIONAL INFORMATION(must be completed)Maximum Level of credit sought $__________________________Farm size: ________________________ hectares Farm type: ______________________________________________ Owned LeasedPlease tick to receive via email relevant information about Ravensdown products and services including Co-operative News.The following information is required for any credit application over $10,000.STATEMENT OF FINANCIAL POSITION AS AT: _______________________(Date)Please note that by supplying this information to Ravensdown it will remain strictly confidential between both parties.AssetsLand and BuildingsMachineryLivestockCrop/GrainRavensdown sharesFonterra sharesOther investmentsTotal$ ___________________________$ ___________________________$ ___________________________$ ___________________________$ ___________________________$ ___________________________$ ___________________________$ ___________________________LiabilitiesMortgageOverdraft limitCredit card limitOther liabilities (secured)Other liabilities (unsecured)TaxTotal$ ___________________________$ ___________________________$ ___________________________$ ___________________________$ ___________________________$ ___________________________$ ___________________________SIGNATURE ____________________________________________2Please complete entire form and return the original to Ravensdown, PO Box 1049, Christchurch 8140AM-CA August 2013

RAVENSDOWN FERTILISER CO-OPERATIVE LIMITEDTERMS OF TRADE1. GENERAL1.1 All products and services provided to you by RavensdownFertiliser Co-operative Limited or another member of theRavensdown group (Ravensdown) are on the basis set outin these terms unless otherwise agreed in writing.1.2 Ravensdown may vary these terms from time to timeby giving one month’s written notice to you. Any variedterms will also be posted on Ravensdown’s website atwww.ravensdown.co.nz. Any varied terms will apply tothe provision of all goods and services you order after thenotice period referred to above.1.3 Nothing in these terms requires Ravensdown to provideany products and services to you, and Ravensdown maycancel any order you make by notice in writing to you.1.4 If you are a company and your directors have previouslyguaranteed your obligations to Ravensdown in relationto products and services supplied by Ravensdown, theguarantee will continue in full force and effect.2. SUPPLY OF PRODUCTS AND SERVICES2.1 Ravensdown will use its reasonable skill, care and effortin supplying all products and services to you, usingresources reasonably available to Ravensdown, andwill use its reasonable efforts to supply all products andservices by any agreed delivery date(s) in a timely andefficient manner. However, Ravensdown will not be liablefor any delay or non-performance in supplying productsor services to you, including where there are delays incartage.2.2 You must satisfy yourself as to the suitability for yourintended purposes of all products and services suppliedby Ravensdown to you.2.3 Ravensdown may deliver up to 3% more or less than theamount of any product ordered by you (subject to anappropriate adjustment to the price payable).2.4 Delivery of all products is deemed to be completed whenRavensdown has delivered the products to you directly orto a carrier nominated by or acceptable to you.2.5 Within 14 days from delivery of any products or theperformance of any services being completed, you mustinspect the products and performance of the servicesand notify Ravensdown of any damage to or defect in theproducts or performance of the services.2.6 Risk in respect of all products supplied to you byRavensdown will pass to you when delivery of theproducts is deemed to have been completed inaccordance with clause 2.4.2.7 Title to all products supplied to you by Ravensdown willnot pass on delivery, but will remain with Ravensdownuntil full payment of all monies owing in respect of suchproducts pursuant to clause 4 has been made, and untiltitle passes you will hold such products as Ravensdown’sbailee and so that the products can be separatelyidentified from all other products held by you.2.8 Products supplied to you may only be returned toRavensdown with Ravensdown’s prior written consent(and provided you have notified Ravensdown within 14days of delivery of the products to you). Ravensdown maycharge you a fee for delivery, return and handling wherethere is no material defect in the product returned.3. ORDERS AND QUOTES3.1 You may not cancel any order for products or services(whether fully or in part) without Ravensdown’s consentin its sole discretion.3.2 Ravensdown may withdraw any quote before it isaccepted by you, and in any event any quote will lapsewithout notice at the end of the day on which the quoteis given.4. PRICE4.1 The price for all products and services will be eitheras quoted by Ravensdown to you or at Ravensdown’sstandard charges for products and services applying atthe time of despatch or performance. Prices are availableat www.ravensdown.co.nz or by calling 0800 100 123.4.2 A 1.5% discount is available to direct customers who payby direct debit. All prices for products and services setout in Ravensdown’s quote or pricelist (as applicable)exclude GST and freight charges except as expresslystated otherwise, which are payable by you at the sametime as the price for the products and services. Purchaseswhich are not purchased on account may be subject to apremium.5. PAYMENT5.1 Payment for all products and services is due on the 20thday of the month following the date of Ravensdown’sinvoice, unless other payment terms have been arrangedwith Ravensdown.5.2 Without prejudice to any of Ravensdown’s other rights orremedies, in the event of late payment or non-paymentor any other breach of these terms by you, Ravensdownmay:a. suspend or terminate any credit facility made availableto you (at which time all amounts owed by you toRavensdown will become immediately due andpayable);b. recover from you all costs incurred by Ravensdownarising from such breach (including legal costs andcosts of recovery of unpaid amounts); and/orc. charge interest to you at a rate equal to 2% permonth on any monies outstanding, both before andafter judgment, from the due date until the date ofpayment. Interest will be payable on demand.5.3 You agree that Ravensdown reserves the right towithdraw credit at any time.5.4 You agree that Ravensdown reserves the right to makeimmediate formal demand of all monies owing toRavensdown on any account whatsoever should therebe any default in payment of any monies owing toRavensdown.CONTINUE3

RAVENSDOWN FERTILISER CO-OPERATIVE LIMITEDTERMS OF TRADE6. WARRANTIES AND LIABILITY6.1 Because Ravensdown does not have knowledge of yourspecific use of all products and services provided byRavensdown to you, except for any written warrantiesgiven by Ravensdown to you, all warranties andrepresentations (including those expressed or impliedby law) in respect of products and services provided areexcluded to the extent permitted by law.6.2 Notwithstanding any other provision of these terms, in noevent will Ravensdown be liable, whether in contract, tortor otherwise:a. where you have altered or modified any products, misappliedany products or subjected any products to anyunusual or non-recommended use, service or handling;b. where any products are not transported, stored,handled or used in accordance with any directionsgiven by Ravensdown to you;c. where the terms of any written warranty have notbeen complied with;d. for loss or damage caused by any factors beyondRavensdown’s control; ore. for any loss of profit or revenue, or for any special,indirect, incidental or consequential damage, loss orinjury of any kind suffered by you.6.3 Notwithstanding any other provision of these terms,Ravensdown’s maximum liability to you (in the event thatsuch liability exists) in respect of any breach of warranty,any breach of these terms or for defective products orservices provided is limited at Ravensdown’s option to:a. replacing the products;b. re-performing the services; orc. refunding the price for the products or services paid byyou.6.4 Where Ravensdown elects to replace any products or reperformany services it will use reasonable endeavours todo so as soon as practicable but will not be liable for anydelay in such replacement or re-performance.6.5 Ravensdown and you agree that all products and servicessupplied pursuant to these terms are for the purposes ofa business and the statutory guarantees of the ConsumerGuarantees Act 1993 do not apply.7. LIEN / SECURITY INTEREST7.1 You agree to grant Ravensdown a first and paramountlien on all your Ravensdown shares (whether held in yoursole name or jointly) for all amounts owing by you toRavensdown in respect of products and services suppliedby Ravensdown. This lien extends to all distributions,rebates and other amounts payable to you in relationto your Ravensdown shares, and all proceeds fromthe sale or other disposal of your Ravensdown shares.Ravensdown may enforce its lien in accordance with theprocedure set out in Ravensdown’s constitution for theenforcement of liens.7.2 By virtue of the retention of title held by Ravensdownunder clause 2.7 Ravensdown holds a security interestin all products supplied by Ravensdown to you, for thepurposes of the Personal Property Securities Act 1999(PPSA).7.3 You agree (to the maximum extent permitted by law) withRavensdown:a. to provide all information and provide such assistancenecessary to allow Ravensdown to register, maintainand enforce its security interest;b. to waive your right to receive a verification statementin respect of any financing statement or financingchange statement relating to Ravensdown’s securityinterest;c. to contract out of your rights under the sectionsreferred to in section 107(2)(a) and (c) to (i) of thePPSA; andd. that nothing in sections 114(1)(a), 133 and 134 ofthe PPSA applies to these terms, and accordingly tocontract out of these sections.7.4 Ravensdown’s security interest continues in any productsinto which those products are incorporated, and in anyproceeds arising from the sale of the products.7.5 Ravensdown may enter any premises occupied by you oron which products are situated at any time after a defaultby you occurs (or before any such event if Ravensdownbelieves its occurrence is likely) to remove and repossessany products and any other property in which productsare incorporated. To the extent permitted by law,Ravensdown will not be liable for, and you indemnifyRavensdown against, any damage or loss you or any thirdparty incurs as a result of Ravensdown’s actions underthis clause.8. MISCELLANEOUS8.1 Information: You authorise Ravensdown to collect andhold personal information from any source Ravensdownconsiders appropriate for determining creditworthiness,debt collection purposes or for any other purpose relatedto these terms. You further authorise Ravensdown todisclose personal information held by Ravensdown forthe purposes set out above to any other person. You havea right of access and may request correction of personalinformation held by Ravensdown about you.8.2 Suppliers: Where you are a “supplier” for the purposesof the Consumer Guarantees Act 1993, you will not makeor allow to be made any statements or representationsas to the quality, fitness for purpose or description ofany products, other than those made by Ravensdown.You indemnify Ravensdown against any damage or lossRavensdown incurs as a result of any breach of this clauseby you.AM-CA August 20134