<br />200806505
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<br />fixtures, real/immovable property, personaVmovable property or other assets (the Mortgaged Properties,
<br />the Collateral, and the proceeds of the Collateral being herein sometimes collectively called the
<br />"Property").
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<br />Except as otherwise expressly provided in this Mortgage, all terms in this Mortgage relating to the
<br />Collateral and the grant of the foregoing security interest which are defined in the Uniform Commercial
<br />Code as evidenced in each state whose law is applicable to the Collateral (the "Applicable DCC") shall
<br />have the meanings assigned to them in Article 9 (or, absent definition in Article 9, in any other Article) of
<br />the Applicable UCC, as those meanings may be amended, revised or replaced from time to time.
<br />Notwithstanding the foregoing, the parties intend that the terms used herein which are defmed in the
<br />Applicable DCC have, at all times, the broadest and most inclusive meanings possible. Accordingly, if
<br />the Applicable DCC shall in the future be amended or held by a court to define any term used herein more
<br />broadly or inclusively than the Applicable DCC in effect on the date of this Mortgage, then such term, as
<br />used herein, shall be given such broadened meaning. If the Applicable DCC shall in the future be
<br />amended or held by a court to define any term used herein more narrowly, or less inclusively, than the
<br />Applicable DCC in effect on the date of this Mortgage, such amendment or holding shall, where legally
<br />permitted, be disregarded in defining terms used in this Mortgage. Further, terms used but not defined
<br />herein shall have the meanings given them in the Credit Agreement (as hereinafter defined).
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<br />Section 1.3. Note. Loan Documents. Other Obligations. This Mortgage is made to secure and
<br />enforce the payment and performance of (a) all indebtedness and other obligations and liabilities of any
<br />Loan Party now or hereafter incurred or arising pursuant to the provisions of that certain Amended and
<br />Restated Credit Agreement dated as of February 20,2008, as amended, supplemented, restated,
<br />increased, extended or otherwise modified from time to time (as amended, supplemented, restated,
<br />increased, extended or otherwise modified from time to time, the "Credit Agreement") among
<br />SemGroup Energy Partners, L.P. ("Borrower"), Wachovia Bank, National Association, as
<br />Administrative Agent and LlC Issuer, Bank of America, N.A., as Syndication Agent, and the Lenders
<br />named therein, including, without limitation, (i)(X) those certain revolving credit loans in the maximum
<br />aggregate stated principal amount of $350,000,000, which revolving credit loans may be evidenced by
<br />notes issued from time to time pursuant to the Credit Agreement, and which revolving credit loans are
<br />payable on or before July 20,2012, unless otherwise extended pursuant to the Credit Agreement, as
<br />from time to time amended, supplemented, restated, increased or otherwise modified, and all other
<br />notes given in substitution therefor, or in modification, renewal or extension thereof, in whole or in part
<br />and (Y) those certain term loans in the maximum aggregate stated principal amount of $250,000,000,
<br />under the terms of the Credit Agreement which term loans may be evidenced by notes issued from time
<br />to time pursuant to the Credit Agreement, and which term loans are payable on or before July 20,2012,
<br />unless otherwise extended pursuant to the Credit Agreement, as from time to time amended,
<br />supplemented, restated, increased or otherwise modified, and all other notes given in substitution
<br />therefor, or in modification, renewal or extension thereof, in whole or in part, such revolving credit
<br />loans and such term loans being subject to increase to an aggregate amount of $750,000,000 under the
<br />terms of the Credit Agreement (as from time to time amended, supplemented, restated, increased or
<br />otherwise modified, and all other notes given in substitution therefor, or in modification, renewal or
<br />extension thereof, in whole or in part, the "Notes"); (ii) all other principal, interest and other amounts
<br />which may hereafter be loaned by Administrative Agent, LlC Issuer or Lenders under or in connection
<br />with the Credit Agreement or any of the other Loan Documents, whether evidenced by a promissory
<br />note or other instrument which, by its terms, is secured hereby; (iii) all obligations and liabilities of any
<br />nature now or hereafter existing under or arising in connection with the Letters of Credit and
<br />reimbursement obligations in respect thereof, together with interest and other amounts payable with
<br />respect thereto; and (iv) all other indebtedness, obligations and liabilities now or hereafter existing of
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