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<br /> Attn: Documentation J>
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<br />
<br />FIRST MODIFICATION OF DEED OF TRUST AND
<br />CONSTRUCTION SECURITY AGREEMENT
<br />(Hall County Nebraska Real Property)
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<br />THIS MODIFICATION (this "Modification") is entered into as of December 20,2005, by and
<br />between GLOBAL INDUSTRIES, INC. and THE COUNTY OF HALL, NEBRASKA ("Global Industries"
<br />and "County of Hall" respectively, and collectively the "Trustor"), and WELLS FARGO BANK, NATIONAL
<br />ASSOCIATION, successor in interest by assignment to Wells Fargo Credit, Inc. ("Beneficiary").
<br />
<br />RECITALS
<br />
<br />This Modification is entered into upon the basis of the following facts and understandings of the
<br />parties:
<br />
<br />A. This Modification pertains to that certain Deed of Trust and Construction Security Agreement
<br />dated as of June 13, 2002, executed by Trustor to Wells Fargo Credit, Inc., as Trustee, in favor of Wells
<br />Fargo Credit, Inc., as beneficiary, and recorded on June 21,2002 at 2.50 p.m. as Instrument No.
<br />200206623, in the Office of the Registrar of Deeds, Hall County, Nebraska ("Deed of Trust"), with respect
<br />to the real property described on Exhibit A attached hereto and incorporated herein by this reference.
<br />
<br />B. The notes secured by the Deed of Trust and the Deed of Trust have been assigned to Wells
<br />Fargo Bank, National Association, as successor Beneficiary. The obligations secured by the Deed of
<br />Trust have been modified, and Trustor and Beneficiary have agreed to modify the Deed of Trust to
<br />accurately reflect the obligations secured thereby.
<br />
<br />NOW, THEREFORE, the parties hereto agree as fdllows:
<br />
<br />1. The Deed of Trust is hereby modified to provide that it secures the obligations of Global
<br />Industries to the Beneficiary arising under that certain promissory note dated December 20, 2005,
<br />executed by GLOBAL INDUSTRIES and payable to Beneficiary or its order, in the principal amount of
<br />TWELVE MILliON DOLLARS ($12,000,000.00) (hereafter the "Note") which Note has been given as a
<br />replacement for, and not in satisfaction of, a $10,000,000.00 revolving promissory note dated June 13,
<br />2002 that has been secured by the Deed of Trust), together with interest thereon; PROVIDED,
<br />HOWEVER, that at no time during the term of this Deed of Trust shall this Deed of Trust secure unpaid
<br />and outstanding principal amounts in an amount in excess of TEN MILliON AND 00/100 DOLLARS
<br />($10,000,000.00), and interest accruing on principal amounts advanced thereon up to but not in excess of
<br />said $10,000,000.00 amount. The defined term "Credit Agreement" set forth in the Deed of Trust shall
<br />refer to the Credit Agreement entered into between Global Industries and Beneficiary dated December
<br />20, 2005, as same may be replaced or amended from time to time.
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<br />S:\Documentation\ T eam3\Nebraska -1-
<br />62441\Legal\Globallndustries, Inc. (Hall County) 11-05
<br />C-520_NE.DOC (Rev. 08/05) Ob # 4375073518
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