|
<br />I
<br />
<br />84"-- 002800
<br />
<br />This inst~ument was p~epa~ed by:
<br />Ga~y L. G~een
<br />Chapman and Cutle~
<br />111 West Mon~oe St~eet
<br />Chicago, Illinois 60603
<br />
<br />r
<br />
<br />DEED OF TRUST
<br />
<br />OPEN END
<br />
<br />(To Secu~e P~esent and Futu~e Obligations and Advances)
<br />
<br />THIS DEED OF TRUST, made as of the date of execution
<br />he~eof f~om PESTER MARKETING COMPANY, an Iowa co~po~ation (nG~anto~n),
<br />whose post office add~ess is P.O. Box 10006, Des Moines, Iowa 50306
<br />to Chicago Title Insu~ance Company (the nT~usteen), whose post
<br />office add~ess is 4820 West 77th St~eet, Edina, Minnesota 55435, as
<br />T~ustee fo~ the use and benefit of SOUTHERN UNION REFINING COMPANY,
<br />a Delawa~e co~po~ation ("Beneficia~y"), whose post office add~ess
<br />is P.O. Box 980, Hobbs, New Mexico 88240;
<br />
<br />WITNESSETH THAT. in conside~ation of the ag~eement of
<br />Beneficia~y to sell ce~tain c~ude oil and oil p~oducts t~Pester
<br />Refining Company up to a value of TWENTY FIVE MILLION DOLLARS
<br />($25,000,000) pu~suant to a Lette~ Ag~eement with ~espect. to the
<br />sale of c~ude 011 dated as of Ap~ll I, 1984 (the "C~ude Oil Sales
<br />Ag~eement") and ente~ed into between Beneflcia~y and G~anto~,
<br />Peste~ Refining Company. a Kansas co~po~ation, Peste~ Co~po~ation,
<br />an Iowa co~po~ation. Peste~ Wholesale Company, an Iowa co~poration,
<br />Pet~oleum Special. Inc. of Iowa, an Iowa co~po~ation and P D Company
<br />of Iowa. an Iowa co~po~ation (G~anto~ and each such co~poration
<br />~efe~~ed to individually as a "Peste~ Affiliate" and collectively
<br />as the "Peste~ Affiliates") and a Lette~ Ag~eement with ~espect to
<br />the p~ocessing of c~ude oil and the sal~ of p~ocessed oil p~oducts
<br />dated as of Feb~ua~y 15, 1984 (the "P~ocessing Ag~eement") between
<br />Beneficia~y and Peste~ Refining Company, and in conside~at10n of
<br />all futu~e sales of c~ude oil and oil p~oducts unde~ said Agree-
<br />ments and all othe~ future obligations of any Pester Affiliate to
<br />Beneficiary whethe~ absolute or contingent, Grantor does by these
<br />presents jointly and seve~ally sell, war~ant. pledge. ass1gn, bar-
<br />gain, hypothecate. g~ant, t~ansfer, set over, convey and mo~tgage
<br />unto the Trustee and its successors in trust and assigns, for the
<br />use and benefit of Beneficia~y, the p~operty legally described in
<br />EXHIBIT A attached hereto and by this refe~ence made a part hereof,
<br />togethe~ with all buildings, imp~ovements, and appurtenances
<br />thereon o~ in any way pe~taining thereto, including without limita-
<br />tion and so fa~ as they now are or may hereafter belong to or be
<br />used with said ~eal estate o~ buildings thereon and whether attached
<br />or detached, all elevators, all gas, steam. electric or other heat-
<br />ing. air conditioning, lighting, plumbing, ventilating, sprinkling,
<br />irrigating, wate~ and powe~ systems, appliances, fixtures. storm
<br />and screen windows and doors, gasoline dispensing. pumps. storage
<br />tanks located above or unde~ g~ound and all other fixtures (as to
<br />any such personal p~ope~ty. o~ fixtu~es. o~ both. a Secu~ity
<br />Inte~est is hereby g~anted by Granto~, as provided by the Unifo~m
<br />Commercial Code of the state in which the ~eal estate described in
<br />
<br />(NEBRASKA)
<br />
<br />L
<br />
<br />L
<br />
<br />L
<br />
<br />L
<br />
|