WHEN
RECORDED RETURN TO:
Private
Capital Group, Inc.
486 West
50 th North
American Fork, Utah 84003
Space Above for
Recorder’s Use
FIRST AMENDMENT TO DEED OF TRUST, ASSIGNMENT
OF RENTS AND LEASES, SECURITY AGREEMENT AND FINANCING
STATEMENT
(Interline – file in Niobrara County,
Wyoming)
THIS FIRST AMENDMENT TO DEED OF TRUST,
ASSIGNMENT OF RENTS AND LEASES, SECURITY AGREEMENT AND FINANCING
STATEMENT (“ Amendment ”) is made and entered
into as of the 29 th day of April 2008, by and
between INTERLINE RESOURCES CORPORATION, a Utah corporation,
whose address for notice is 160 West Canyon Crest, Alpine, Utah
84004 (“ Grantor ”) and PRIVATE CAPITAL
GROUP, INC., a Utah corporation, serving as agent for
Participants, whose address for notice is 486 West 50
th North, American Fork, Utah 84003, as “
Grantee ,” beneficiary, assignee and secured party
(together with successors and assigns “ Lender
” or “ Grantee ”), for the purpose of
amending in part the Deed of Trust, Assignment of Rents and
Leases, Security Agreement and Financing Statement (the “
Original Deed of Trust ”) dated as of September 7,
2007 by and between Grantor and Lender for the purpose of
securing a loan from Lender to NORTHCUT REFINING LLC, a Wyoming,
limited liability company (“ Borrower ”).
The Deed of Trust was recorded with the Niobrara County,
Wyoming Recorder on September 20, 2007, as Entry No. 396883, in
Book 434, at page 0084, of the Official Records of the Niobrara
County, Wyoming Clerk and Recorder’s office.
FOR GOOD AND VALUABLE CONSIDERATION, Guarantor,
Lender and Borrower agree that the Deed of Trust is hereby
amended as follows:
1.
Defined Terms . Except as otherwise
specifically provided in this Amendment, all capitalized terms
used in this Amendment shall have the meaning assigned to such
terms in the Original Deed of Trust, as amended by this
Amendment.
2.
Increase in Principal Secured .
Section 1.1 titled “Principal Secured” is
deleted and the following sections substituted:
Section 1.1
Principal Secured . This Deed of
Trust secures the aggregate principal amount of Twelve Million
Seven Hundred Thousand Dollars ($12,700,000) plus such
additional amounts as Lender may from time to time advance
pursuant to the terms and conditions of this Deed of Trust for
advances for the protection of the lien of this Deed of Trust,
together with interest thereon.
3.
Increase in Amount of Secured Obligations
. The definition of the word “Promissory Note”
in Section 1.2, “Definitions”, is deleted and the
following definition is substituted as of the date of this
Amendment.
“ Amended Promissory Note ”
means that Amended Promissory Note dated on or about the date
hereof, which amends the original Promissory Note to increase
the amount payable to the order of Lender from the original
principal face amount of Eleven Million Five Hundred Thousand
Dollars ($11,500,000) to Twelve Million Seven Hundred Thousand
Dollars ($12,700,000) bearing interest as provided in the
Promissory Note, as amended, contained in provision for among
other things payment of interest and attorneys’ fees.
Additionally, wherever in the original Deed of
Trust it mentions the Promissory Note those words will be
amended as of the date hereof to include the words
“Amended Promissory Note.”
4.
Ratification .
