? Item 1.01 Other Events

On September 3, 2009, Corning Natural Gas Corporation and Community Bank N.A. signed a commitment letter to renew the Company's existing $8.0 million revolving line of credit. The line of credit will be due and payable in full on the earlier to occur of (1) March 3, 2010, (2) the date of demand by Community Bank, or (3) the date of an event or default, as defined in the Credit Agreement, unless extended by Community Bank. The line of credit bears interest annually at a fluctuating rate equal to the greater of 4% or the 30 day Libor Rate plus 2.25%. Payments of accured and unpaid interest will be payable monthly beginning on October 1, 2009.